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The Reserve Bank on Friday said it has imposed a Rs 4.88 lakh penalty on HDFC Bank for contravention of certain norms relating to foreign investment in India while granting a term loan to its client. The central bank also imposed a penalty of Rs 2.70 lakh on Shriram Finance Limited for non-compliance with certain … Read more
India’s foreign exchange reserves declined by $3.049 billion to $699.736 billion for the week ended July 4, according to data released by the Reserve Bank of India (RBI) on Friday.This comes after a sharp rise of $4.849 billion in the previous week, which had taken the reserves to $702.784 billion. The all-time high of $704.885 … Read more
US stocks opened lower on Friday, pulling major indexes off their record highs from the previous session, as investor sentiment turned cautious following President Donald Trump‘s fresh tariff announcements.The S&P 500 fell 0.6% in early trading, while the Nasdaq composite slipped 0.4%. The Dow Jones Industrial Average was down 317 points, or 0.7%. The pullback … Read more
The government on Friday launched its first customer-facing incentive scheme for electric trucks under the PM E-DRIVE initiative, offering up to Rs 9.6 lakh per vehicle. The scheme, announced by Union minister H D Kumaraswamy, has earmarked Rs 500 crore for e-truck incentives out of a total Rs 10,900 crore programme outlay.Targeting industries such as … Read more
Slow US-China trade deal may push Trump’s tariff deadlines Trade deals between the US and China are moving at a pace slower than expected, which may lead to extensions of the current tariff deadlines, according to a report by SBI Funds Management.The report highlighted deadlock amidst ongoing trade talks between both the nations with both … Read more
TCS had previously disclosed in April that salary increases would be postponed due to business uncertainties. (AI image) Employees of Tata Consultancy Services (TCS) will have to wait a little longer for clarity on salary hikes. In its June quarter financial results announcement, India’s largest IT services firm has indicated that decisions regarding salary increases … Read more
The US has expressed fresh concerns at the WTO regarding India’s dairy certification requirements. (AI image) Even as India and the US appear to be in the final leg of talks for an interim trade deal, America has raised issues of India’s dairy certificate requirement at the World Trade Organisation (WTO) again. The US has … Read more
NEW DELHI: Akshat Shrivastava, an investor and entrepreneur has sparked a fresh debate on financial freedom, this time with a blunt and thought-provoking post on X. Known for his straight-talking views on personal finance and macroeconomics, Shrivastava shared five key lessons from his own journey of breaking out of the middle-class trap, challenging widely held … Read more
India has rejected Australia’s demand for deeper tariff concessions on dairy and alcoholic beverages, delaying the second phase of a proposed bilateral trade pact, news agency Reuters reported citing two Indian government sources.The countries signed an interim deal in 2022 that reduced tariffs on a wide range of goods. However, talks on a full-scale Comprehensive … Read more
Britain’s economy contracted for the second consecutive month in May, dealing a blow to finance minister Rachel Reeves as she navigates a shaky domestic recovery and heightened global uncertainty. Official figures released on Friday showed that gross domestic product (GDP) declined 0.1% in May, following a 0.3% drop in April.The latest reading came as a … Read more