Amid Adani group row, RBI says banking sector remains resilient

New Delhi (IANS) Amid doubts being raised over state-owned banks' exposure to Adani group, the Reserve Bank of India (RBI) on Friday said that "the banking sector remains resilient and stable".

"There have been media reports expressing…

IndiGo reports net profit of Rs 1,422 crore in Q3

New Delhi (IANS) IndiGo airline reported a profit of Rs 20,091 million excluding foreign exchange loss for the quarter ending December 2022. The airline reported a net profit for the quarter aggregated to Rs 1,422 crore including foreign exchange…

Portion of Adani Group's capex is deferrable: Moody's

Chennai (IANS) Global credit rating agency Moody's Investors Service on Friday said a portion of Adani Group's planned capital expenditure is deferrable.

Moody's also said the adverse developments relating to the Adani Group - rapid…

No immediate impact on credit ratings of Adani Group: Fitch Ratings

Chennai (IANS) Global credit rating agency Fitch Ratings on Friday said there is no immediate impact on its ratings of Adani Group entities and their securities following a "short-seller report" alleging malpractices.

Fitch Ratings also said…

UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value

New Delhi (IANS) The Unified Payments Interface (UPI)-based transactions hit 8.03 billion in January, a substantial increase from the 7.82 billion transactions recorded in December 2022.

According to the data by the National Payments Corporation…

BYJU's slashes around 15% roles, mostly in engineering, as phased layoffs on

New Delhi (IANS) Edtech major BYJU's has laid off further 15 per cent of its employees from its engineering teams, as the company continues phased layoffs to remain growth-oriented in global economic meltdown.

According to sources, the…

Adani Enterprises withdraws RHP, cancels agreements with several parties

Chennai (IANS) The Adani Enterprises Ltd -- the flagship company of the Adani Group -- on Thursday said it is withdrawing the Red Herring Prospectus (RHP) filed with the Registrar of Companies (RoC) Gujarat.

The move is a follow up to the company's…

Job growth in Indian IT sector slumps 25% amid layoffs

New Delhi (IANS) Due to corrections in hiring in the IT industry, job growth in the Indian IT sector has declined by 25 per cent this year as compared to last year, a report showed on Thursday.

The hiring intent declined across both large IT…

Union Budget 2023-24: Domestic manufacturing gets push, customs duty on kitchen chimney, toys hiked

New Delhi (IANS) With aim to promote domestic manufacturing, Union Finance Minister Niramala Sitharaman, in Budget 2023-24, provided relief in customs duty on import of certain parts and inputs like camera lens and lithium-ion cells for batteries…

Budget's focus on inclusive growth, says FM Sitharaman

New Delhi (IANS) Finance minister Nirmala Sitharaman has said that the economic agenda for the government's vision focuses on facilitating opportunities for citizens, providing strong impetus to growth and job creation as well as strengthening…