Insolvency petition a ruse for loan write-offs? Major bank union to oppose Go Airlines' write-offs

Chennai (IANS) The All India Bank Employees' Association (AIBEA) will oppose banks writing off a part of their loans to Wadia group's Go Airlines (India) Ltd if the latter has filed a voluntary insolvency petition for that purpose, said a…

Apple set quarterly record in India, country at a tipping point: Tim Cook

New Delhi (IANS) Apple set a quarterly record in the January-March period in India and grew very strong, in double digits year-over-year, said Tim Cook, the company's CEO who was in India last month to open the first branded retail stores in Mumbai…

Paytm logs Rs 7,990 cr revenue in FY23, becomes India's highest earning new-age firm

New Delhi (IANS) Leading payments and financial services company Paytm on Friday announced an impressive growth in its fourth quarter of FY23, ending the financial year on a high note.

In Q4 FY23, the company's revenue surged by 51 per…

India's foreign exchange reserves rise to $588.78 billion

New Delhi (IANS) India's foreign exchange reserves increased marginally by $4.53 billion to $588.78 billion during the week ending April 28, according to Reserve Bank of India data released on Friday.

As per the data, India's foreign…

India to become 50% non-cash economy in consumption in 3 years

New Delhi (IANS) India is expected to become a 50 per cent non-cash economy in consumption in the next three years, with person-to-merchant digital transactions reaching over $1.5 trillion by FY26, a report showed on Thursday.

India's household…

Tata Electronics to become a key Apple player after Wistron's iPhone plant acquisition

New Delhi (IANS) As Apple doubles down on local manufacturing in India, Taiwan-based iPhone manufacturer Wistron is reportedly winding up its operations in the country and Tata Electronics is set to take over Wistron's Karnataka factory and manufacture…

NCLT reserves order on Go First's insolvency plea, crew stranded at various locations as flights suspended

New Delhi (IANS) The National Company Law Tribunal (NCLT) on Thursday reserved its order on the cash-strapped airline Go First's plea seeking voluntary insolvency resolution proceedings.

A two-member bench headed by President, Justice Ramalingam…

While most global equity markets are rising 5-20% in 2023, India is flat

New Delhi (IANS) The Nifty, after a weak run in the last four months, bounced back in April with 4.1 per cent MoM gain, Motilal Oswal Financial Services said in a report.

Notably, the index was extremely volatile and swung around 776 points…

India's coal production rises 15% to 893 mn tonnes in 2022-23

New Delhi (IANS) India's overall coal production stood at 893.08 million tonnes in 2022-23 as compared to 778.19 in 2021-22, showing a growth of 14.78 per cent.

Government aims to enhance production to 1,012 million tonnes in the current…

CBI arrests ex-CMD of WAPCOS, his son in DA case; seizes Rs 38.38 cr

New Delhi (IANS) The Central Bureau of Investigation (CBI) on Wednesday arrested Rajinder Kumar Gupta, the former CMD of WAPCOS, and his son in a Disproportionate Assets case.

During the raid and search operations which got underway on Tuesday…