Seven police personnel have been suspended for allegedly providing special treatment to DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, arrested in connection with a multi-crore bank loan scam, during medical check-ups at hospitals in Mumbai, an official said on Wednesday. The Wadhawan brothers are currently in judicial custody and lodged at the Taloja prison in...
The Manohar International Airport in North Goa on Monday announced a direct Indigo flight service to Abu Dhabi International Airport (AUH) thrice a week, starting September 2. A senior official of the airport operator GMR Goa International Airport Limited (GGIAL) said that the inaugural Indigo flight to Abu Dhabi from Manohar International Airport is scheduled...
With the US flagging concerns over India’s decision to impose import restrictions on certain electronic devices, both countries have agreed to find a solution to the issue that addresses the concerns of both nations, according to a statement of USTR. The issue was flagged during a meeting between Commerce and Industry Minister Piyush Goyal and...
Qatar’s sovereign wealth fund is set to invest $1bn in Indian billionaire Mukesh Ambani’s retail unit,valuing the shopping company at $100bn, in the latest sign of Gulf investors’ deepening exposure toIndia’s fast-growing economy.The $450bn Qatar Investment Authority would take a 0.99 per cent stake in Reliance Retail VenturesLimited, the Reliance Industries subsidiary announced on Wednesday.“QIA...
The rupee registered the highest single-day gain in nearly two months and surged by 25 paise to 82.47 against the US dollar in early trade on Thursday amid a weakening dollar, foreign funds inflows and positive equity markets. According to reports, the rupee’s sharp gain of 52 paise in the past two sessions was attributed...
India’s GDP growth in Q1 FY24 will stand at 8.3 per cent as compared to the Reserve Bank of India’s (RBI) estimate of 7.8-8.0 per cent, noted the latest State Bank of India’s Economic Research Department’s report, SBI Ecowrap. The report added that total FY24 growth will be higher than 6.5 per cent. The...
Jio Financial Services, the demerged financial services unit of Reliance Industries, had a volatile market debut on Monday. Shares of Jio Financial Services hit the lower circuit after slipping 5 per cent to a low of ₹ 248.90 apiece. On BSE, the company’s shares were trading 5 percent lower at 251.75 apiece at 1:53 PM. Jio Financial...
The rupee pared its initial gains and settled for the day lower by 2 paise at an all-time low of 83.10 (provisional) against the US dollar on Thursday, weighed down by a strong greenback overseas and a negative trend in domestic equities. Forex traders said rupee is likely to trade with a negative bias on...
Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank’s comfort zone of 6 per cent, said an article in the RBI’s monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in...
Shares of Adani Power plunged 4 per cent in Wednesday’s trade, only to recover someof the lost ground amid a media report suggesting a promoter entity likely sold sharesin a block deal to a marquee global fund.As per the report, a total of 8.1 per cent of the company’s total equity changed handsvia block deals....