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Latest Updates from Business

RBI
RBI to discontinue incremental cash reserve ratio requirement for banks, funds to be released in phases

The measure was intended to absorb the surplus liquidity generated by various factors, including the return of Rs 2,000 notes to the banking system.

  • Friday, 08 Sep 2023
Gold Hallmarking
Centre notifies 3rd phase of mandatory gold hallmarking; additional 55 districts to be covered

As per official sources, the third phase of the mandatory hallmarking will cover an additional 55 new districts under the mandatory hallmarking system.

  • Friday, 08 Sep 2023
  • Gold
India saw 18 new GCCs in 1st half this year, tier 2 cities gain prominence
India saw 18 new GCCs in 1st half this year, tier 2 cities gain prominence

The country's technological capabilities to drive innovation, availability of highly skilled digital talent, mature tech start-up ecosystem, and the peer GCC ecosystem are some of the key drivers that make India an attractive destination for setting up and expanding GCCs.

  • Friday, 08 Sep 2023
DGCA grants Air India conditional approval to use simulator
DGCA grants Air India conditional approval to use simulator

This decision enables the airline to resume pilot training, which had been halted after the regulator suspended its approval due to an audit that revealed non-compliance with regulatory standards.

Oil could hit $107 due to Saudi, Russia supply cuts
Oil could hit $107 due to Saudi, Russia supply cuts

The Wall Street bank had already factored in the possibility of high oil prices long before Russia and Saudi Arabia announced, earlier this week, that they were extending production cuts through the end of 2023, CNN reported.

 smartphone user
6 Indian companies enter top 10 digital media players’ list in FY23

The robust performance of the digital media market comprises various segments such as over-the-top (OTT) video services, audio streaming, short-form video platforms and digital gaming. 

  • Wednesday, 06 Sep 2023
Oil jumps above $90 as Saudi Arabia extends production cuts
Oil jumps above $90 as Saudi Arabia extends production cuts

Russia extended its voluntary decision to curb crude exports by 300,000 bpd until December 2023, acting in concert with Saudi Arabia, with the alleged aim of maintaining stability and balance in the oil markets.

  • Tuesday, 05 Sep 2023
AIR India
G20 Summit: Air India offers passangers one-time waiver due to travel restrictions

As per traffic advisory, people coming from Dwarka to T3 can take the Blue Line to Dwarka Sector 21 Station and then switch to the Airport Express Line to reach IGI Airport T3.

RBI to highlight digital payments infrastructure at G20 summit
RBI to highlight digital payments infrastructure at G20 summit

According to RBI sources, the RBI exhibition pavilion at the G20 summit will put up five major items for display, including the Public Tech Platform (PTP) for frictionless credit.

  • Tuesday, 05 Sep 2023
  • RBI
4 Financial changes coming into effect from September; know here
4 Financial changes coming into effect from September; know here

September brings financial changes: Aadhaar update deadline, last chance to exchange Rs 2,000 notes, PAN-Aadhaar link for savings, and SEBI's nomination deadline for accounts.

  • Friday, 01 Sep 2023
ITR filing: 4 common mistakes to avoid getting Income Tax dept's notice
ITR filing: 4 common mistakes to avoid getting Income Tax dept's notice

Income Tax sent 100,000 notices for inaccurate income reporting. CBDT reviewed 55,000. Avoid mistakes: choose right ITR form, report all income, verify, and meet deadlines (July 31).

  • Friday, 01 Sep 2023
UPI payments
UPI-based payments cross 10 bn monthly transactions for 1st time

Transactions on UPI have grown by over 50 per cent (year-on-year) and August saw 6.58 billion monthly transactions. 

  • Friday, 01 Sep 2023
India's GDP growth stands at 7.8% for first quarter of 2023-24, lesser than RBI's estimate of 8%
India's GDP growth stands at 7.8% for first quarter of 2023-24, lesser than RBI's estimate of 8%

However compared to 6.1 per cent growth recorded in January-March period of 2022-23, the GDP growth for the first quarter of 2023-24 was higher at 7.8 per cent.

  • Thursday, 31 Aug 2023
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabiliti
Financial Stability and Development Council resolves to remain vigilant against fiscal vulnerabilities

It resolved to remain vigilant against any build-up in vulnerabilities in all segments of the Indian financial system as well as in the broader economy.

  • Monday, 28 Aug 2023
  • RBI
JioAirFiber to be launched on September 19
JioAirFiber to be launched on September 19

"JioAirFiber uses our pan-India 5G network and advanced wireless technologies to bypass the need for last-mile fibre," Ambani said at the 46th AGM of RIL.

  • Monday, 28 Aug 2023
Karizma XMR 210
Hero teases Karizma XMR 210 specs a week ahead of its launch

The first noteworthy elements in the teaser video are stickers that give away the engine’s architecture and construction. It’s already been known that this will be a liquid-cooled engine. And the 210 sticker confirms the 210cc displacement figure.

  • Wednesday, 23 Aug 2023
Snap appoints Google veteran Pulkit Trivedi as India Managing Director
Snap appoints Google veteran Pulkit Trivedi as India Managing Director

Trivedi joins Snap from Google where he has spent the past five years as the Director of Google Pay-India Business Team.

Bank Of Baroda
Bank of Baroda makes U-turn on selling Sunny Deol's villa, explains reasons

The bank said the total dues do not specify the exact quantum of dues to be recovered.

  • Tuesday, 22 Aug 2023
Govt imposes 40% duty on onion export
Govt imposes 40% duty on onion export

The announcement was made through a notification on Saturday. This notification shall come into force with immediate effect, and will remain in force up to and inclusive of the December 31, 2023.

  • Saturday, 19 Aug 2023
reserve bank
RBI bars banks from levying penal interest, allows them to impose "reasonable" penal charges

The banks and other lending institutions will not be allowed to levy penal interest with effect from January 1, 2024, the RBI said in its notification on 'Fair Lending Practice-Penal Charges in Loan Accounts'.

  • Friday, 18 Aug 2023
  • RBI