MUMBAI: HDFC Bank, the largest private sector lender in India, has sent a mail to its agents informing them that effective July 1 they should stop mobilising fixed deposits and current account, savings account (CASA) funds from govt entities. The decision comes close on the heels of the bank paying Rs 45 crore incentive to…
BENGALURU/MUMBAI: A day after markets regulator Sebi banned Rajesh Mehta, the chief of Bengaluru-based gold refiner Rajesh Exports, for inflating the company’s revenues over several years to induce investors to invest in the stock, the company said there was communication gap with Sebi that led to the regulatory decision. Mehta also stood by the company’s…
MUMBAI: Union commerce minister Piyush Goyal has called upon Indian industry and MNCs to move beyond seeing the country as a market. He urged them to create bases for manufacturing, design & innovation, and use India for global supply chains and exports. He sought their engagement with India as a co-creator of value and not…
BENGALURU: Many in Karnataka know Rajesh Mehta for his Shubh, Laabh, and Oyzterbay jewellery stores. The three brands for a while looked like they could together take on the might, and replicate the success of the other Bengaluru-headquartered national biggie-Tanishq.But that was not to be. As Mehta struggled with Sebi investigations in the past few…
NEW DELHI: India and the US have discussed issues going beyond trade in goods to include non-tariff measures, customs and trade facilitation and economic security alignment, among other issues, an official statement said Thursday.A team from USTR office was in India since Monday to advance negotiations on the trade agreement, which has been in the…
MUMBAI: Citi’s global CEO Jane Fraser has said that India should not “sell itself short” by focusing disproportionately on short term challenges. It should rather focus on execution and stay confident about its long-term story.Speaking at the Citi India conference, Fraser said that while near-term headwinds persist, the structural case for India remains compelling and…
India’s push for flex-fuel vehicles can help meet twin national goals of cutting crude oil imports and reducing carbon emissions, but will require a full supporting ecosystem from fuel availability to wider model launches, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Thursday.Speaking at the launch of the company’s first flex-fuel car, Wagon…
India’s largest airline IndiGo on Thursday announced the temporary suspension of flights to six international destinations, including Hong Kong, Shanghai and Thailand’s Krabi, as it moves to optimise its network amid softer travel demand and rising operating costs.The budget carrier said services to Langkawi, Krabi, Ho Chi Minh City, Hong Kong and Shanghai will be…
The US stock market began trading on a mixed note on Thursday, as a pullback in several artificial-intelligence-linked stocks offset broader gains across the market, while easing oil prices provided support to investor sentiment.The S&P 500 gained 0.02% to 7,555.08 after retreating from its record high a day earlier, while the Nasdaq Composite fell 0.58%…
Foreign companies are increasingly using India’s booming initial public offering (IPO) market to cash out investments and send billions of dollars back to their home countries rather than raise fresh capital for expansion, according to a Reuters analysis.As per the report, only one of the six foreign-based companies that listed their Indian subsidiaries in Mumbai…
