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.…

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…

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…

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…

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…

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.

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,…

PE-VC investments decline 15% to $6 billion in Q3'23

New Delhi (IANS) Private Equity-Venture Capital (PE-VC) funds invested $6 billion (across 139 deals) in India-based companies during the quarter ended September 2023 (Q3'23), shows data from Venture Intelligence, a research service focused on…

GST collections rise 2.2% to stand at Rs 1,62,712 crore in September

New Delhi (IANS) The gross GST revenue for September rose 2.2 per cent to Rs 1,62,712 crore from Rs 1,59,069 crore in August.

Out of the Rs 1,62,712 crore GST collections for September, CGST was Rs 29,818 crore, SGST was Rs 37,657 crore, IGST…

RBI extends deadline for returning Rs 2,000 notes to Oct 7

Mumbai (IANS) The RBI on Saturday extended the deadline for the public to exchange or deposit Rs 2,000 currency notes at bank branches till October 7.

The earlier deadline for returning Rs 2,000 notes was scheduled to expire on September 30.