RBI maintains India's FY22 GDP growth projection at 9.5%

Mumbai (IANS) The Reserve Bank of India (RBI) on Wednesday maintained India's GDP growth projection for the current financial year to 9.5 per cent on accelerated economic recovery along with pent-up demand.

Accordingly, GDP is expected…

Coal shortage cripples non-power sector as supplies to power sector prioritised

New Delhi (IANS) Federation of Indian Chambers of Commerce and Industry (FICCI) state council, in its recent letter to the Ministry of Coal, has addressed the issue of the proposed increase in coal rakes for power sector that in turn will deprive…

Used car platform Spinny raises $283 mn, becomes new unicorn

New Delhi (IANS) Used car retailing platform Spinny on Tuesday announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn in 2021.

The company said the…

Indian stainless steel sector drowning in Chinese imports

New Delhi (IANS) The first half of 2021-22 has seen a 185 per cent increase in stainless steel imports compared to the average monthly imports in the last fiscal, creating havoc for the Indian players.

The import tide of stainless steel from…

upGrad to acquire edtech rival Talentedge for nearly Rs 400 Cr

Mumbai (IANS) Leading online higher education company upGrad on Monday announced it has acquired Gurugram-based edtech rival Talentedge. According to reliable sources, the acquisition is valued somewhere between Rs 350-Rs 400 crore.

Talentedge,…

Prevent dumping of toxic wastes in India: FM to DRI

New Delhi (IANS) Union Finance Minister Nirmala Sitharaman on Saturday asked the Directorate of Revenue Intelligence (DRI) to prevent dumping of toxic wastes in India.

Speaking at an event to celebrate DRI's 64th foundation day, Sitharaman…

Rapido's bike taxi segment provides 78% to overall business

New Delhi (IANS) Amid the growth of bike taxi services in recent times, Rapido's bike taxi segment contributes 78 per cent to the overall business, the company's top executive said on Sunday.

Rapido started its journey with ride-hailing…

Tightening of norms may increase NBFCs' headline NPAs: Ind-Ra

Mumbai(IANS) Tightening of norms may increase non-banking finance companies' (NBFCs) headline non-performing advances (NPA) by around one third, India Ratings and Research (Ind-Ra) said.

"The Reserve Bank of India's (RBI) clarification…

India should make habit of entering sunrise sectors: Niti Aayog CEO

Panaji (IANS) India's past mistakes in the electronics manufacturing, like entering the sector late after China and other countries have seized the market, should not be repeated when it comes to the area of electric mobility, Niti Aayog Chief…

Global action needed to regulate technology like cryptocurrency: Sitharaman

New Delhi (IANS) Finance Minister Nirmala Sitharaman on Friday said collective "global action" is the only way to regulate the evolving technologies, including the cryptocurrencies.

Speaking at the InFinity Forum organised by Bloomberg and…