India’s net direct tax collections declined 1.34% year-on-year to Rs 5.63 lakh crore as of July 10, dragged down by a sharp surge in refunds, according to government data released on Friday. Gross tax collections — before adjusting for refunds — rose 3.17% to Rs 6.65 lakh crore during the period, reflecting an underlying improvement … Read more
The Open Network for Digital Commerce (ONDC) is considering reviving its subsidy program with a proposed incentive pool of Rs 100–150 crore for food delivery partners operating on its platform. If implemented, the move would mark a significant policy reversal for the government-backed e-commerce platform, which had previously scaled back such incentives.The new subsidy plan, … Read more
The Ministry of Heavy Industries Secretary, Kamran Rizvi, confirmed that the draft scheme for processing rare earth magnets has been distributed. (AI image) Amidst ongoing supply choke for rare earths from China, India has announced its plans to develop rare earth magnets domestically. The government has allocated Rs 1,345 crore towards establishing domestic production capabilities … Read more
MUMBAI: RBI will conduct a record Rs 2.5-lakh-crore variable rate reverse repo (VRRR) auction on Friday as it seeks to absorb a persistent glut of liquidity in the banking system. This move follows a series of recent VRRR operations that have drained Rs 3 lakh crore, yet the money market surplus remains above Rs 3 … Read more
SBI is preparing to sell as much as Rs 25,000 crore ($2.9 billion) of shares to institutional investors as soon as next week, according to people familiar with the matter, in what could be the nation’s biggest deal of its kind.If the qualified institutional placement is fully subscribed, it would mark the biggest QIP ever … Read more
NEW DELHI: National Highways Authority of India (NHAI) plans to bid out 124 highways and expressway projects worth Rs 3.4 lakh crore in current financial year (2025-26). NHAI has put the entire list of projects in public domain, amid a sense of uncertainty among the highway developers.In last two years, there has been a slowdown … Read more
Investor appetite for gold-backed mutual funds surged in June, with Gold Exchange Traded Funds (ETFs) attracting net inflows of Rs 2,081 crore, the highest in five months, amid resilient gold prices, market volatility, and geopolitical tensions.According to data from the Association of Mutual Funds in India (Amfi), the June inflows mark a sharp jump from … Read more
MUMBAI: Another large-size IPO is being planned in the current year. Prudential Corp of UK, the joint venture partner of ICICI Bank in ICICI Prudential Asset Management, is selling 10% stake in the company through an initial public offering that could be worth around Rs 10,000 crore. On Tuesday, the AMC had filed the papers … Read more
Image used for representative purposes NEW DELHI: Manipal Hospitals announced on Wednesday that it signed definitive agreements to acquire Sahyadri Hospitals from Ontario Teachers’ Pension Plan (Ontario Teachers’), a global investor. The acquisition will bring Ranjan-Pai backed Manipal’s total bed count to about 12,000, making it one of India’s largest hospital networks, says a company … Read more
Monthly investments through systematic investment plans (SIPs) surged to a new peak of Rs 27,269 crore in June 2025, up 2% from Rs 26,688 crore in May, crossing the Rs 27,000 crore mark for the first time, according to fresh data from AMFI.The SIP assets under management (AUM) rose to Rs 15.30 lakh crore in … Read more