MUMBAI: Banks reported an increase in their weighted average lending rates in July despite a 50-basis point reduction in the repo rate in June. Bankers said this was likely triggered by a rise in the share of high-yielding loans to MSMEs, which typically pick up after the first quarter before the festive season. According to…
MUMBAI: As scores of Amazon and Flipkart sellers prepare for the upcoming festive season, which accounts for a huge chunk of their annual sales, there’s lack of clarity and confusion on the ground about the compliance challenges that the rejigging of GST slabs could possibly bring forth. For one, some sellers are worried that the…
Eight of the top-10 highest valued companies saw their combined market value decrease by Rs 2,24,630.45 crore in the previous week, with Reliance Industries and HDFC Bank experiencing the largest declines, following the negative trend in equities.The BSE benchmark index declined by 1,497.2 points, or 1.84 per cent last week.Among the top-10 companies, eight firms…
India mulls measures to protect exporters after US tariffs (AI image) The government is preparing measures to cushion industries and workers from the fallout of the United States’ steep tariff increase on exports, according to Economic Affairs Secretary Anuradha Thakur. “There are certain employment-heavy sectors which do have exposure to the US and to that…
The specialty fertiliser sector in India could potentially face new supply disruptions as China plans to reenforce export curbs starting October, with potential price increases affecting farmers, according to a senior industry representative.Chinese specialty fertiliser exports have temporarily resumed, offering momentary respite. However, this relief period will conclude as Beijing intends to strengthen export supervision…
The losses faced by Indian textile exporters due to steep reciprocal tariffs imposed by the United States may be cushioned by rising exports to the United Kingdom under the recently concluded India-UK Free Trade Agreement (FTA), CareEdge Ratings said in a report.The ratings agency noted that ongoing negotiations with the European Union could further open…
Reserve Bank of India Deputy Governor M Rajeshwar Rao on Sunday flagged off a walkathon on cyber security awareness at Sukhna Lake here, stressing that banking services, especially digital platforms, are designed for public convenience and must be used responsibly.The walkathon, organised by the Bankers’ Club, Chandigarh, saw enthusiastic participation from bankers across the region,…
Delhi Chief Minister Rekha Gupta on Sunday announced that nearly Rs 1,600 crore in pending GST refunds since 2019 will be released to traders before Diwali, enabling them to celebrate the festival with “greater joy and prosperity.”Gupta chaired a special meeting of the Department of Trade and Taxes at her Civil Lines camp office, which…
The Trump family’s latest foray into cryptocurrency has triggered questions over conflict of interest after a $750 million transaction put their businesses on both sides of the deal, The Wall Street Journal reported.According to the WSJ, the arrangement centres on World Liberty Financial (WLFI) — the Trump family’s flagship crypto venture launched last year. Earlier…
The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Centre to announce immediate relief measures after the United States imposed 50 per cent tariffs on Indian goods, a move that exporters say has started hurting the $40 billion industry.The penal duties, which came into effect on August 27, have already disrupted shipments to…
