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…

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…

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…

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,…

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…

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…

Markets to remain range bound

New Delhi (IANS) Markets were on a smooth course during the last week until a tsunami hit them on Wednesday. Even two trading sessions later what happened on that day remains a mystery.

On that fateful day, markets made new highs with BSESENSEX…

Freight rates from Asia spike 53% in a month amid Red Sea attacks

New Delhi (IANS) Freight rates from Asia have spiked 53 per cent in a month depending on the route plus container shipping giants and oil supermajor British Petroleum have halted transit via the Red Sea/Suez Canal route after the attacks, Madhavi…

Undisclosed global client terminates $1.5bn AI deal with Infosys

New Delhi (IANS) IT major Infosys on Saturday announced that a global client has decided to terminate the Memorandum of Understanding (MoU) for a $1.5 billion deal focused on artificial intelligence (AI) solutions.

The 15-year deal was signed…

Tata Steel to consider scheme for merger of Indian Steel & Wire Products, calls shareholders meeting on Jan 25

New Delhi (IANS) A meeting of the equity shareholders of Tata Steel Limited is scheduled to be held on January 25 to consider and approve the 'Scheme of Amalgamation' amongst Tata Steel Limited and The Indian Steel and Wire Products Limited…