Latest News, Updates & Breaking Headlines
MUMBAI: State Bank of India has cut rates on select deposits and reduced lending benchmarks. The move follows the 25 bps reduction in policy rate. The revised rates come into effect from Dec 15. The bank has cut the rate on its 444-day deposit from 6.6% to 6.5%.SBI has cut rates on select deposits and…
Train travel could soon become even better, with passengers able to savour their favourite delicacies from popular brands, right on board!Indian Railways has begun testing a revamped on-board catering model on selected trains, as the Indian Railway Catering and Tourism Corporation Ltd (IRCTC) looks to upgrade the quality and delivery of meals served to passengers….
MUMBAI: The Rs 10,600-crore IPO for ICICI Prudential Mutual Fund was subscribed 72% on day 1 with the institutional investors portion subscribed nearly two times. The high net worth part was subscribed 37%, the retail portion 21% while the part reserved for shareholders of ICICI Bank was subscribed 44%. Through the bidding round, Prudential Corp…
In what officials are calling Haryana’s most ambitious environmental push yet, the state has collaborated with World Bank and created the ‘Haryana Clean Air Project for Sustainable Development’ with a corpus of Rs 3,600 crore to ‘significantly improve’ air quality over the next five years.The proposal includes sweeping interventions, ranging from farm-level enforcement to industrial…
MUMBAI: RBI deputy governor T Rabi Sankar on Friday said that stablecoins are inherently unstable and pose major macro-financial risks, including currency substitution, dollarisation and weakened monetary-policy transmission.Sankar’s comments come at a time when US govt’s stance is broadly supportive of dollar-denominated payment stablecoins as part of the formal financial system, distinct from lightly supervised…
Automakers saw a strong rise in factory dispatches to dealerships in November, indicating that consumer demand remained strong even after the festive season ended. Companies noted that cars, two-wheelers and three-wheelers recording strong double-digit growth as compared to the same period, a year earlier. Industry body SIAM said that the month turned out to be…
US President Donald Trump has often pointed to rising government revenues and sweeping investment pledges as proof that his economic strategy is working. However, many Americans, struggling with rising bills, have failed to see this growth materialising.Critics have also argued that the president is talking past households dealing with day-to-day affordability pressures. The disconnect is…
MUMBAI: A record-breaking rally on Wall Street on Thursday night, on the back of a quarter percentage point cut in interest rates by the US central bank the day before, boosted investor sentiment on Dalal Street on Friday that propelled sensex above the 85K mark again. At close, the sensex was up 450 points at…
A California jury ordered Johnson & Johnson to pay $40 million to two women who claimed its talc-based baby powder caused their ovarian cancer. The women testified that decades of use led to major surgeries and chemotherapy. Johnson & Johnson plans to appeal, stating the verdict is aberrant and lacks evidence. A California jury on…
MUMBAI: New York-based alternative asset manager Brookfield is lining up investments worth over $1 billion (around Rs 9,000 crore) to set up a global capability centre (GCC) in Mumbai, raising its bets on India. The GCC, which will be Asia’s largest, is being developed through an agreement between Mumbai Metropolitan Region Development Authority (MMRDA) and…
