Govt approves Rs 30,600 cr sovereign guarantee to operationise bad bank

New Delhi (IANS) The government has approved providing Rs 30,600 crore as state guarantee for the security receipts issued by the bad bank, National Asset Reconstruction Company Ltd (NARCL).

The government guarantee mechanism was approved by…

Likely govt support measures, PLI schemes buoy equities

Mumbai (IANS) Hopes of government support measures for some beleaguered sectors along with provisions for PLI schemes for others buoyed India's key stock indices during mid-afternoon trade session on Wednesday.

However, gains were capped…

Telcos to get relief in AGR payment

New Delhi (IANS) The Union Cabinet on Wednesday approved a telecom relief package with relaxation in terms of adjusted gross revenue (AGR) payment, sources said.

According to people in the know, the Cabinet has approved the moratorium of four…

Centre ushers in PLI for green autos; focuses on EVs

New Delhi (IANS) Centre on Wednesday approved a PLI scheme for the promotion of renewable and environment friendly automobiles such as EVs, sources said.

Accordingly, the over Rs 25,000 crore scheme is likely to boost production of components…

Reforms to change framework of Indian telecom sector: Minister

New Delhi (IANS) As the Union Cabinet on Wednesday approved several reforms and relief measures for the telecom sector, Union Minister for Communications, Ashwini Vaishnaw said that these measures will change the entire framework of the Indian telecom…

No leadership structural changes on the anvil: Tata Sons Chairman

Mumbai (IANS) Tata Sons Ltd's Chairman Natarajan Chandrasekaran on Wednesday clarified that "no leadership structural changes are on the anvil, as speculated in certain sections of media".

On Tuesday, a source-based report by a newswire…

Refund for unutilised Input Tax Credit can't be claimed on input services: SC

New Delhi (IANS) The Supreme Court on Monday upheld the validity of a rule of the Central Goods and Service Tax, which prescribes a formula excluding the refund of unutilised input tax paid on input services as part of input tax credit (ITC).

Nifty hits record high, Sensex up 200 points

Mumbai (IANS) The Indian stock market opened on a positive note on Tuesday with the Nifty50 on the National Stock Exchange (NSE) touching a record high.

Nifty hit a fresh high of 17,438.55 points.

Healthy buying was witnessed in auto…

Kia Sonet crosses one lakh sales-mark in less than 12 months

New Delhi (IANS) Automobile manufacturer Kia India on Tuesday said it sold 1,00,000 units of compact SUV -- Sonet in less than 12 months of its launch in the country.

Accordingly, during the same period, the vehicle has become the fourth highest-selling…

India's August exports rise by over 45%

New Delhi (IANS) India's merchandise exports in August 2021 rose to $33.28 billion, higher by 45.76 per cent on a year-on-year basis, official data showed on Tuesday.

Exports during August 2020 stood at $22.83 billion.

The data by…