Reserve Bank of India Governor Shaktikanta Das on Monday said there was “hardly any room” to review the action taken against Paytm Payments Bank. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after...
Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a “lack of compliance” at Paytm. Deputy Governor Swaminathan J said the actions against the fintech have been taken due to “persisted non-compliance”. The Governor declined to specify the specific shortcomings resulting in the...
The Indian mogul has regained much of his wealth after a short-seller attack sent it plunging in early 2023. On Wednesday, Adani’s net worth climbed $2.7 billion to $100.7 billion, the highest it’s been since Hindenburg Research accused his Adani Group of “brazen” market manipulation and fraud — allegations the Adani Group denied. Shares of...
Nasdaq-listed Cognizant Technology Solutions has forecast its revenue for FY24 to be in the range of $19.0 to $19.8 billion, reflecting a decline of 2 per cent to a growth of 2 per cent in constant currency terms. The firm, based in Teaneck, New Jersey, reported a 7 per cent increase in net profit at...
Shares of YES Bank Ltd, Bandhan Bank Ltd and IndusInd Bank Ltd rallied up to 13 per cent in Tuesday’s trade after the Reserve Bank of India (RBI) gave nod to HDFC Bank Ltd to acquire up to 9.5 per cent stake each in the two private lenders. YES Bank shares jumped 12.63 per cent to...
Elon Musk’s use of illegal drugs was common knowledge among several current and former Tesla Inc. and SpaceX directors, the Wall Street Journal reported on Saturday. There was concern about the volume of Elon Musk’s illegal drug use and that he consumed drugs with some of his board members, the newspaper reported, citing people who...
The Biden administration on Thursday notified the US Congress on its proposed supply of 31 MQ-9B Predator long endurance drones to India, in a significant forward movement to firm up the mega deal that was announced during Prime Minister Narendra Modi’s visit to Washington in June last year. The Defence Security Cooperation Agency of the...
Adani Enterprises Ltd.’s quarterly profit more than doubled boosted by its portfolio of newer businesses. Shares jumped as much as 1.5%. The flagship firm of billionaire Gautam Adani’s empire posted net income of 18.9 billion rupees ($228 million) for the quarter through December, compared with 8.2 billion rupees in the year-ago quarter, according to an...
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014. The processing time of tax returns has been reduced from 93 days...
On the back of fast growth in new orders and production, India’s manufacturing Purchasing Managers’ Index (PMI) rose to a four-month high in January, a report released on Thursday showed. According to HSBC Flash India PMI data, the manufacturing PMI rose to 56.5 in January. In December last year, it had fallen to an 18-month...