Tesla may set up EV plant in Gujarat, Musk likely to visit India next month

New Delhi (IANS) Elon Musk’s Tesla may finally end its dry run in India and announce to set up an Electric Vehicle (EV) supply system manufacturing plant in Gujarat during the ‘Vibrant Gujarat Global Summit’ next month. The announcement is likely…

India’s economy is on stable high growth path backed by stronger banks: RBI

Mumbai (IANS) Amidst a challenging global macroeconomic environment, the Indian economy is exhibiting “a quickening growth momentum,” with resilience and financial stability, according to the RBI’s Financial Stability report released on Thursday.

RBI comes out with draft to simplify licensing norms for money changers

Mumbai (IANS) The Reserve Bank of India (RBI) has come out with a set of new draft norms aimed to simplify and rationalise the authorisation of money changers for facilitating foreign exchange-related services.

The review of the extant licensing…

IPO-bound FirstCry’s losses surge to Rs 486 cr in FY23, revenue at Rs 5,632 cr

New Delhi (IANS) Mother and child care e-commerce platform FirstCry, likely to file a draft paper for its IPO soon, reported Rs 5,632 crore revenue from operations in FY23, while its losses surged over six times to Rs 486 crore from Rs 79 crore in…

Indians travel 64 mn kms in Uber EVs in 2023, Saturdays most popular

New Delhi (IANS) Indians travelled 64 million kms in Uber EVs through the year, spending a total of 3.9 million hours and helping build a greener future, the ride-hailing platform said on Wednesday.

Uber trips during the year covered a record…

BharatPe logs 182% growth in revenue in FY23, EBITDA loss cut by Rs 158 cr

New Delhi (IANS) Fintech major BharatPe on Tuesday said it has recorded 182 per cent growth in revenue in FY23 while EBITDA loss reduced by Rs 158 crore.

Announcing its financial performance for the fiscal year 2023, the fintech firm registered…

PSU stock indices outperform in trade

New Delhi (IANS) PSU stocks are the top gainers in trade on Tuesday notching up gains of up to 11 per cent.

BSE CPSE index is the best performing index with several PSU stocks rallying. HOCL is up 11 per cent, Mazagaon Dock is up 8 per cent,…

FDI flows jump to 21-month high in Oct

Mumbai (IANS) The net Foreign Direct Investment (FDI) flowing into India reached a 21-month high in October reflecting the strengthening fundamentals of the economy, according to data compiled by the RBI.

According to RBI data, the net FDI…

India’s current account deficit narrows to $8.3 bn in July-Sept quarter

Mumbai (IANS) India's current account deficit narrowed in the July-September quarter of the current financial year due to a lower merchandise trade deficit and an increase in services exports, the RBI said on Tuesday.

The current account…

Bitcoin miners see transaction revenue grow a massive 400% in 2023

New Delhi (IANS) The revenue collected by Bitcoin miners as transaction fees averaged about $2 million per day in 2023, registering a whopping 400 per cent increase year-on-year.

The Bitcoin miners earned more than $10 billion in 2023, according…