The United States Commerce Department has begun issuing licenses to Nvidia to export its H20 chips to China, a US official told Reuters on Friday, marking a major breakthrough for the AI giant’s access to one of its most important markets.The move follows Washington’s decision last month to reverse an April ban on sales of…
NEW DELHI: There is a need to redefine the role of independent directors, and company boards must treat them as “stewards of accountability” and not as honorary appointees, Sebi chairman Tuhin Kanta Pandey said on Friday. He called on boards to equip themselves to meet the challenges of the future.“They must be viewed and treated…
MUMBAI: State Bank of India reported a 9.7% year-on-year rise in consolidated Q1 FY26 profit to Rs 21,201 crore, driven by robust treasury and forex income. Standalone net profit increased to Rs 19,160 crore from Rs 17,035 crore that was recorded a year earlier.Advances grew 11.6% YoY, but core net interest income slipped 0.1% to…
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank’s annual general meeting that reverse mortgage loans do not work in the Indian context because of “various legal and operational issues.” He added, “I’m not aware of any bank currently offering it. One bank did in the past, but they have stopped….
NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb…
MUMBAI: India has emerged as the single biggest market for Malaysia Airlines Berhad and the carrier has added capacity in this market by pulling out its flights from the Asean and domestic networks. Currently operating 77 weekly flights to 10 cities in India, the airline has flown 13 lakh people in & out of the…
MUMBAI: AU Small Finance Bank’s promoters will transfer their shares to a non-operative holding company (NOHC) as part of RBI’s conditions for the lender’s transition into a full-fledged or universal bank. The lender has also decided to shift its corporate headquarters from Jaipur to Mumbai, after receiving in-principle approval from RBI for the upgrade.AU Small…
MUMBAI: At the heart of India’s non-leather footwear manufacturing hub in Tamil Nadu where global brands such as Nike, Puma, Crocs and Adidas are pouring in several thousand crores of investments, there is worry over the looming US tariff threat of 50%. Brands are looking to reroute some of their orders to the US through…
The Union government has formally withdrawn the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961,.A fresh version of the Bill, incorporating most of the recommendations made by the Select Committee chaired by BJP MP Baijayant Panda, is scheduled to be tabled in the…
The government plans to award road projects worth Rs 10 lakh crore every year, with a target of Rs 7 lakh crore in project awards by the end of FY26, Union road transport and highways minister Nitin Gadkari said on Thursday, signalling renewed momentum after delays linked to the Bharatmala programme.Speaking at the annual session…
