Business

Hyderabad: Hyderabad-based vernacular short news app, Way2News, has raised $16.75 million (about Rs 130 crore) as part of its Series-A round from investors WestBridge Capital and from venture capitalist Sashi Reddi. This marks WestBridge Capital’s debut investment in the media and entertainment sector in India. The company plans to use the fresh capital to expand […]

Mumbai: The Reserve Bank of India will soon come out with regulatory architecture for digital lending platforms, many of which are unauthorised and illegal, Governor Shaktikanta Das said on Thursday. There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps. “I think […]

New Delhi: Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements […]

Mumbai: Equity benchmark Sensex fell over 277 points in opening trade on Thursday, tracking losses in index majors Asian Paints, TCS and HCL Tech amid a negative trend in global markets. The 30-share BSE gauge was trading 277.91 points or 0.51 per cent lower at 54,614.58 in early trade. Likewise, the Nifty declined 76.40 points […]

Mumbai: The rupee slipped 10 paise to 77.78 against the US dollar in early trade on Thursday, as elevated crude oil prices and persistent foreign capital outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 77.74 against the American dollar, then lost ground to quote at 77.78, registering a fall […]

Mumbai: Home, auto and other loan EMIs will rise after the Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points (bps), the second increase in five weeks, to rein in a rise in prices that was seen continuing to hurt consumers in the near term. The increase in […]

New Delhi: With the aim to empower photography enthusiasts, Fujifilm India on Wednesday launched a premium instant camera — Instax Mini Evo — that comes with 100 combinations of shooting effects. Priced at Rs 22,999, the new Instax Mini Evo will be available at all leading e-commerce platforms and with authorized offline Fujifilm retail partners. “At […]

New Delhi: Taking into account the increase in prices since the housing loan limits were last revised and considering the customer needs, central bank Reserve Bank of India decided to increase the existing limits on individual housing loans by the cooperative banks. Accordingly, the limits for Tier I or Tier II urban cooperative banks shall […]

Mumbai: The Reserve Bank of India (RBI) on Wednesday proposed to allow the linking of credit cards to the Unified Payments Interface (UPI) platform. After the Monetary Policy Committee (MPC) meeting RBI Governor Shaktikanta Das announced that the implementation will start with the indigenous RuPay credit cards. “At present, UPI facilitates transactions by linking savings/current […]

Moscow: Following a freeze on activities in Russia earlier this year, IBM CEO Arvind Krishna has informed employees that the company is ending all operations in the country and has begun laying off employees. In a letter shared with the employees, Krishna stated that the company’s focus for months has been on looking after the […]

Mumbai: The rupee strengthened by 9 paise to 77.69 against the US dollar in opening trade on Wednesday, ahead of the Reserve Bank of India’s monetary policy decision. A weak trend in domestic equities, surging crude oil prices and unabated foreign fund outflows capped the appreciation bias of the rupee, forex dealers said. The RBI’s […]

Mumbai: Indian stock market’s benchmark Sensex opened 205 points down on Wednesday as the Reserve Bank of India (RBI) increased the policy repo rate by 50 basis points to 4.9 per cent. The 30 stock S&P BSE Sensex fell 205.27 points or 0.37 per cent to close at 54,902.07 points at 10:30 am. The broader […]

Mumbai: The Reserve Bank of India on Wednesday retained its growth projection at 7.2 per cent for the current fiscal on the back of improvement in urban demand and gradual recovery in rural India. Unveiling the third monetary policy for the current fiscal, RBI Governor Shaktikanta Das said the Indian economy remained resilient, and the […]

Mumbai: Reserve Bank of India (RBI) on Wednesday raised the interest rate by 50 basis points to a two-year high of 4.9 per cent as it doubled down to tame inflation that has surged in the last couple of months. The rate hike comes on the back of a 40 bps increase effected by RBI […]

New Delhi: Investors’ wealth on Tuesday tumbled over Rs 2 lakh crore amid heavy selling pressure in domestic equities. The 30-share BSE Sensex tanked 567.98 points or 1.02 per cent to settle at 55,107.34. In tandem with weak equities, the market capitalisation of BSE-listed firms tumbled by Rs 2,08,291.75 crore to Rs 2,54,33,013.63 crore. “Investors […]

New Delhi: Those investors who had put their money in the initial public offerings of Life Insurance Corporation of India had experienced a heavy depreciation in their portfolio, as the shares of the insurance major have been tumbling ever since its exchange listing. The government had offloaded 3.5 per cent of its stake through the […]

New Delhi: Gold prices on Tuesday fell by Rs 56 to Rs 50,814 per 10 grams in futures trade as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 56 or 0.11 per cent at Rs 50,814 per 10 grams in a business […]

Mumbai: The Indian stock market’s benchmark Sensex opened 497 points down on Tuesday dragged by selling pressure in consumer durables and realty stocks. The 30 stock S&P BSE Sensex fell 497.23 points or 0.89 per cent to close at 55,178.09 points The broader Nifty 50 of the National Stock Exchange fell 145.60 points or 0.88 […]

Hyderabad: Telangana landed four fresh investments across pet food, chocolates, bakery products and mobility segments. Of them, three have announced cumulative investments to the tune of about Rs 400 crore. One company chose not to disclose the investment size. The investment announcements were made at the launch event of Industries Department’s annual report by Industries […]

New Delhi: The central bank Reserve Bank of India (RBI) cleared the air by saying that it has no proposal to bring about changes to the existing currency and bank notes by replacing the face of Mahatma Gandhi with that of others. “There are reports in certain sections of the media that the Reserve Bank […]

Hyderabad: Kitex Garments, which recently laid the foundation stone for its facility at Kakatiya Textile Park, is now looking to up its investments in the State further and also look for a third location for its unit in addition to the Warangal and Sitarampur in Rangareddy. Kochi-based infantwear maker Kitex, which is the second largest […]

New Delhi: Former Indian skipper Mahendra Singh Dhoni has become the shareholder of the Indian drone company Garuda Aerospace. MS Dhoni has decided to invest in a company that makes Drones and supports the Agriculture ecosystem in the country. Leaving cricket aside, Dhoni has stepped into his next career. After retirement, Dhoni has been involved […]

Mumbai: Share price of Life Insurance Corporation of India (LIC) slumped to a record low of Rs 782.45 on Monday, which is 17.55 per cent down from its IPO issue price of Rs 949. At 1.27 pm on the BSE, Life Insurance Corporation of India’s share was trading 2.01 per cent down at Rs 784.15. […]

Hyderabad: Hyderabad-based global technology solutions company Cyient on Monday announced signing of definitive agreements to acquire Celfinet. An international wireless engineering services company, Celfinet is focused on providing end-to-end network planning and performance optimisation services. Cyient will acquire the Portugal-based company for Euro 41 million, according to a release. With this acquisition, Cyient plans to […]