Business

The Asian Infrastructure Investment Bank (AIIB) has launched a $10 billion fund facility to support member countries affected by the economic fallout of the ongoing Middle East conflict, PTI reported. India is the second-largest shareholder in the China-led multilateral lender after China.The Beijing-headquartered bank said the newly launched Energy, Food Security and Economic Resilience Facility…

The Reserve Bank of India (RBI) on Friday announced a record dividend payout of Rs 2.87 lakh crore to the government for FY26, providing additional fiscal space amid evolving global and geopolitical challenges, PTI reported. The decision on the surplus transfer was taken at the 623rd meeting of the RBI Central Board of Directors chaired…

SBI Mutual Fund has increased its holding in private sector lender Bandhan Bank, with its stake crossing the 5 per cent threshold following an additional purchase of shares from the open market, PTI reported.In a regulatory filing, Bandhan Bank said the final holding of SBI Mutual Fund, through its various schemes, stood at 8,12,46,734 shares…

Venezuela has emerged as India’s third-largest crude oil supplier so far in May, overtaking Saudi Arabia and the United States, as Indian refiners increased purchases of cheaper heavy crude amid disruptions linked to the ongoing West Asia conflict.The South American nation supplied around 417,000 barrels per day (bpd) to India this month, sharply higher than…

Kolkata: ITC Ltd has reported a 5% year-on-year rise in standalone net profit from continuing operations for the fourth quarter of the last fiscal, at Rs 5,113.3 crore. The growth came despite a higher GST rate and a steep increase in excise duties, while West Asia conflict weighed on profitability.The Kolkata-headquartered company had seen a…

The Reserve Bank of India (RBI) sold an estimated $2 billion to $3 billion on Thursday to defend the rupee against sustained pressure, and stepped in again on Friday, helping the currency strengthen past the 96-per-dollar mark, according to bankers cited by Reuters.The rupee rose 0.64 per cent to close at 96.20 against the US…

NEW DELHI/MUMBAI: Amid a depreciating rupee, commerce and industry minister Piyush Goyal on Thursday said govt is considering several measures to contain the widening current account deficit (CAD).“We are monitoring the situation. All the various arms of the govt are working as a team. Several steps are under consideration. The situation globally is quite challenging,…

MUMBAI: Banks have made a host of suggestions on how govt could attract $30–$50bn foreign exchange, most of them involving the central bank subsidising the hedging cost of the foreign exchange.While the interest rate differential between India and the US is far less than the 4–5% in 2013, bankers say that the macroeconomic fundamentals are…

NEW DELHI: Jobs in the informal sector grew nearly 15% (yo-y), breaching the 15-crore mark for the first time in JanMarch 2026 from 13.1 crore in the same period last year, the latest quarterly data on the unincorporated sector enterprises released by NSO Thursday showed. The number of establishments in the sector grew nearly 17%…

Global crude oil prices could surge to as high as $200 per barrel in a worst-case scenario if the Strait of Hormuz remains closed through the end of 2026, according to a report.As per a report by Wood Mackenzie, a prolonged disruption in the strategic waterway could trigger a severe global energy and economic crisis.The…