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Inflation in FY26 and FY27 is expected to remain far below the Reserve Bank of India’s (RBI) estimates, according to a new report by the State Bank of India (SBI).The report cited several factors that will help to soothe price pressures, including a strong monsoon, higher kharif crop sowing, healthy reservoir levels, ample foodgrain stocks,…
NEW DELHI: GST collections rose 9.1%, the fastest pace of expansion in four months, to Rs 1,89,017 crore in Sept, indicating that the impact of the announcement of a rate reduction did not significantly dent sales.Domestic collections in Sept — for transactions in Aug — were up 6.8% to Rs 1,36,525 crore as consumers deferred…
MUMBAI: RBI’s monetary policy committee on Wednesday unanimously voted to keep the repo rate unchanged at 5.5% with a neutral stance, while hiking FY26 growth forecast to 6.8% from 6.5%.“Since we last met in June, inflation has come down by about 1%. It is now at 2.6–2.7% compared with our earlier forecast. That’s the reason…
Tesla owner Elon Musk has set a new record, becoming the first person ever to build a fortune of almost $500 billion. The surge comes on the back of a rebound in Tesla’s stock and soaring valuations of his other ventures, including SpaceX and xAI.Forbes’ billionaires index put Musk’s net worth at $500.1 billion as…
MUMBAI: After sliding for eight consecutive sessions, the sensex on Wednesday rallied 716 points or 0.9% to close at 80,983 points even as RBI maintained status quo on interest rates. After a slow start to the session, the index gained pace in the late session, and banks led the gainers.Bank stocks rallied as the central…
MUMBAI: RBI has taken a series of steps to bolster consumer protection in the financial sector, starting with a move that makes access to digital banking a basic entitlement for holders of Jan Dhan and other no-frills accounts.RBI said it will review the framework for basic accounts, which are offered without minimum balance requirements, to…
NEW DELHI: Manufacturing activity moderated in Sept compared to the previous month, but remained robust, as new orders slowed and job creation slipped to a one-year low while selling prices hit a 12-year high, a survey showed on Wednesday.At 57.7 in Sept, down from 59.3 in Aug, the HSBC India Manufacturing Purchasing Managers’ Index pointed…
Warren Buffett’s Berkshire Hathaway is nearing a deal to acquire Occidental Petroleum’s petrochemical business for about $10 billion, a person familiar with the matter said. It would be Berkshire’s largest deal since its acquisition of Alleghany in 2022 for $13.7 billion. Representatives for Occidental and Berkshire didn’t reply to messages seeking comment. Wall Street Journal…
MUMBAI: Reserve Bank of India unveiled on Wednesday its most comprehensive reforms in over a decade, aimed at countering US-driven headwinds and expanding credit to companies, while deepening capital market activity. Banks can now finance mergers and acquisitions, and IPOs more freely, while limits on loans against shares and listed debt securities have been raised.Central…
Piyush Goyal (File photo) NEW DELHI: As companies from the EFTA Bloc — Switzerland, Norway, Iceland and Liechtenstein — promised investment into India as part of the $100 billion commitment under the trade deal, Swiss state secretary for economic affairs Helene Budliger Artieda called for the need for a bilateral investment treaty(BIT), while Liechtenstein sought…
