NEW DELHI: The penalty on nine carmakers that failed to meet the Corporate Average Fuel Efficiency (CAFE-2) targets for three years — FY23 to FY25 — has been revised to Rs 2,728 crore, as per power ministry’s presentation made to the PMO last week. Earlier, the penalty was estimated around Rs 7,800 crore.Earlier, penalty was…
NEW DELHI: Confederation of Indian Industry (CII) on Sunday called upon companies to work with govt to build reserves of raw material, fuel and strengthen supply chains amid disruptions from the West Asia crisis.“The present situation represents a supply side disruption, with pressures transmitted through energy costs, logistics and working capital cycles,” it said in…
NEW DELHI: The ongoing West Asia conflict and concerns over energy supplies have prompted govt to explore faster rollout of flexible-fuel vehicles (FFVs), which can run on blended petrol as well as 100% ethanol. At a meeting called by the petroleum ministry on Saturday, original equipment manufacturers (OEMs) flagged the need to address consumer concerns,…
MUMBAI: RBI has placed consumer empowerment through portable bank accounts and cross-border efficiency at the centre of its Payments Vision 2028, signalling a new focus to improving user experience and reducing friction in money movement.While customers can freely open accounts with any bank, savings accounts are considered ‘sticky’ because of multiple standing instruction to send…
NEW DELHI: WTO talks in Cameroon are deadlocked over a moratorium on e-commerce with the US seeking a long freeze on countries for levying tax on digital downloads and streaming, while India is so far unwilling to agree to this period.Starting from two years, India has indicated its willingness to go up to four, with…
MUMBAI: The RBI’s unorthodox move to steady the rupee by forcing banks to unwind foreign exchange positions beyond $100 million will prevent its slide towards 95, even as markets fret over a possible escalation in the Iran conflict and the prospect of a US ground invasion.The move will also cause banks with large open positions…
Indian stock markets will remain closed on Tuesday, March 31, for Mahavir Jayanti and again on Friday, April 3, for Good Friday, giving investors a holiday-shortened trading week.Trading on the NSE and BSE will be suspended on both days across segments, including equity, equity derivatives, currency derivatives, securities lending and borrowing (SLB) and other market-linked…
KPMG’s UK arm has told nearly 600 employees in its audit business that their roles are at risk, as the Big Four firm moves to cut costs in a tougher market.The proposed shake-up is expected to lead to up to 440 exits if the redundancy process goes ahead.The affected staff have been informed that they…
Passengers flying within India will be able to choose a larger share of seats without paying extra from April 20, after aviation regulator DGCA directed airlines to offer at least 60 per cent of seats on every flight free of charge.The move follows concerns over airlines charging steep fees for seat selection, with the civil…
Precious metals are likely to remain in a corrective phase in the coming week, with investors expected to closely track developments in the Middle East and a packed calendar of global economic data for fresh cues.Analysts cited by news agency PTI said that speeches by US Federal Reserve Chair Jerome Powell on Monday, along with…
