GST Council likely to levy 18% tax rate on corporate guarantees for loans

New Delhi (IANS) The GST Council is likely to introduce an 18 per cent tax rate on corporate guarantees extended by parent companies to their subsidiary firms for getting loans from banks, according to reliable sources.

The issue was taken…

Ola, Okinawa continue to lose electric 2-wheeler market share: Report

New Delhi (IANS) Electric two-wheeler (E2W) sales volume rose 20 per cent (year-on-year) and 2 per cent (on-month) in September this year and despite leading the segment by volume, Ola Electric (Ola) continued to lose market share (month-on-month),…

Inclusion of Indian bonds in JPMorgan's emerging market index to attract inflows worth $23 billion, says Sitharaman

New Delhi (IANS) Finance Minister Nirmala Sitharaman on Thursday said that the inclusion of Indian bonds in JPMorgan's emerging market debt index could attract inflows worth $23 billion in the country.

Addressing the annual day function…

OpenAI’s Sam Altman invests in Indian-origin teenagers’ AI startup

San Francisco (IANS) ChatGPT developer OpenAI’s CEO Sam Altman has invested in an artificial intelligence (AI) startup, founded by two Indian-origin teenagers Aryan Sharma and Ayush Pathak in the Silicon Valley in the US.

The startup Induced…

Export-led Indian automotive industry could reach $1 tn by 2035

Mumbai (IANS) Enabled by manufacturing, innovation and technology leadership, India has the potential to become a $1 trillion export-led automotive industry by 2035, a new report showed on Wednesday.

It has the potential to unlock $400 billion…

Exposure of banks’ mutual funds to NBFCs increased in August: CARE Ratings

Chennai (IANS) The credit and debt exposure of banks and mutual funds to non-banking finance companies (NBFC) went up in August 2023, said CARE Ratings in a report.

According to CARE Ratings, the credit exposure of banks to NBFCs stood at Rs.…

IT services growth rate is among the slowest over last decade

New Delhi (IANS) The growth of the IT services industry is expected to remain weak in 2QFY24, as macroeconomic uncertainty continues to weigh on discretionary spending, as per a report by Motilal Oswal Financial Services.

The softness seen…

Cars, SUVs turn costlier amid rising demand in festive season

New Delhi (IANS) Consumers will have to shell out more as automobile manufacturers have hiked prices of hot-selling cars and SUVs from October 1 amid rising demand in the festive season.

Mahindra & Mahindra has raised the prices of its Thar,…

RBI-MPC’s decision on repo rate may be unanimous but not on the stance: Economists

Chennai (IANS) While there will be unanimity on not changing the repo rate from the current 6.5 per cent, there will be divergence within the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) as to the stance, said senior economists.

Adani commissions first 400 KV grid in Mumbai, to boost power supply by 1000 MW

Mumbai (IANS) In order to address the growing needs of power for the country’s commercial capital, the Adani Energy Solutions Ltd (AESL) has commissioned Mumbai’s first 400-KV grid line, an official said here on Monday.

The new line, of Kharghar…