RBI hikes repo rate by 40 bps on inflation worries, equities plunge

New Delhi (IANS) Reserve Bank of India Governor Shaktikanta Das on Wednesday said that the Monetary Policy Committee (MPC) of the central bank, in an off-cycle meeting, hiked the repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.

Govt-owned insurers goes for organisational rejig, calls for consultants

Chennai (IANS) Is the central government moving towards merging its four general insurance companies into one?

The question pops up as the four general insurers have decided to restructure the organisation towards profitable growth and have…

Network18 Q4 net profit up 58% YoY at Rs 61 cr; TV18's down 13%

New Delhi (IANS) Network18 Media & Investments on Tuesday reported 58.1 per cent year-on-year surge in its consolidated net profit to over Rs 61 crore during Q4FY22.

The media company reported a 14.6 per cent year-on-year rise in consolidated…

Healthcare automation firm Element5 raises $30 mn, to hire more in India

Chennai (IANS) US and Chennai-based automation service provider Element5 on Tuesday said it has raised $30 million in its Series B round led by Insight Partners, and it will use the money to boost the delivery of its post-acute healthcare solutions…

Indian equities plunge in early trade, Titan among top losers

New Delhi (IANS) Indian equity benchmarks declined in the opening session on Monday taking cues from volatility from the global markets.

At 9.19 a.m., Sensex was at 56,680 points, down 0.7 per cent, whereas Nifty was at 16,990 points, down…

KVIC sole FMCG to post Rs 1.15 lakh cr turnover

New Delhi (IANS) The Khadi and Village Industries Commission (KVIC) has clocked a massive turnover of Rs 1.15 lakh crore, which is unprecedented for any FMCG company in the country.

This makes KVIC the only company in the country to record…

GST collection touches all-time high in April at Rs 1.68 lakh cr

New Delhi(IANS) The monthly collection under the Goods and Services Tax (GST) has touched a record high of Rs 1.68 lakh crore in April 2022, data showed.

The gross GST collection has crossed the Rs 1.5 lakh crore-mark for the first time in…

Empowered group approves sale of Pawan Hans to Star 9 at Rs 211cr

New Delhi (IANS) The Alternative Mechanism, committee empowered by the CCEA, has approved the highest bid of Star 9 Mobility Private Ltd for sale of entire government's 51 per cent of shareholding of Pawan Hans Limited (PHL) and transfer of management…

ED seizes Rs 5,551 cr assets of Xiaomi Technology India under FEMA

New Delhi (IANS) The Enforcement Directorate (ED) said on Saturday that it has seized Rs 5,551.27 crore of Xiaomi Technology India Private Limited lying in the bank accounts under the provisions of Foreign Exchange Management Act (FEMA), in connection…

'GST Council's GoM to recommend best practices to tax online gaming, horse racing'

Panaji (IANS) The Goods and Services Tax (GST) Council's group of ministers (GoM) on online gambling, race courses and casinos will look to recommend best global practices while assessing taxability on services like online gaming, horse racing…