Business News Updates

He said the task is more important because the entire banking system runs on deposits, which are accumulated from small savers, middle class and retirees.

According to airline spokespersons, bookings for the codeshare flights are being opened across points of sale, for travel starting on Monday. 

However at the same time, he cautioned that the main challenge would be to ensure that the rupee remains competitive, as there is a natural tendency for the Indian currency to appreciate.

The RBI identifies 'wilful defaulters' as those who have the ability to pay a bank's dues but do not or divert bank funds. The RBI did not earlier have a specific timeline within which such borrowers had to be identified.

The Directorate General of Civil Aviation (DGCA) said that on account of the concerted efforts by the regulator in close coordination with the stakeholders the rollout of the regulations marks a significant step towards DGCA's commitment to ensuring the highest level of aviation safety. 

The UPI-based payments crossed 10 billion monthly transactions in August for the first time, according to the National Payments Corporation of India (NPCI).

Inflation data from the US present a mixed picture. While the CPI inflation data for August has come at 3.7 per cent against expectations of 3.6 per cent, core inflation was on expected lines coming at 4.3 per cent. So the market thinking is that the Fed is likely to pause in September.

Tata Motors has also said that they will continue to produce diesel powered cars despite a hike in GST as long as there are customers willing to buy them.

For July 2023, the quick estimates of index of industrial production (IIP) with base 2011-12 stood at 142.0.

The investment forum held on Monday witnessed the attendance of more than 500 companies from India and Saudi Arabia. 

A joint statement issued by Finance Minister Nirmala Sitharaman and UK's Chancellor of the Exchequer Jeremy Hunt after the EFD, said that the UK has a lot to offer in the area of financial and project management.

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.

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

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.

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.