Indian billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd. reported a record profit aided by its consumer businesses.

Large non-banking finance companies (NBFCs) are likely to be more intensely regulated and their lending to sensitive sectors like capital markets and real estate capped if the RBI were to implement proposals that it has put forward in a discussion paper.

Telcos have asked the government to clarify about the entity that will be held liable if there is security breach in the network post implementation of National Security Directive (NSD) on the telecom sector, according to industry sources aware of the development.

State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector. The statement follows power demand touching an all-time high of 187.3 GW on Friday.

Petrol and diesel prices in the country on Saturday touched new all-time highs after rates were increased for the fourth time this week.Petrol and diesel prices were hiked by 25 paise per litre each, according to a price notification from oil marketing companies.

US President Joe Biden on Friday ordered the faster issuance of pandemic stimulus checks to needy families and increased food aid for children who normally rely on school meals, an effort to ease Americans’ burdens while Congress negotiates over his proposed $1.9 trillion economic stimulus package.

Kick starting the countdown towards Budget 2021, finance minister Nirmala Sitharaman on Saturday hosted the traditional ‘halwa’ ceremony. Every year, the government follows an annual tradition of hosting a halwa ceremony, a few days before the Budget is presented. The ceremony marks the beginning of printing of Budget documents.

Hero Moto, the country’s top-wheeler maker, crossed a record 100 million units in production, and is lining up an aggressive launch plan of 50 products and upgrades over the next five years, chairman Pawan Munjal said on Thursday as the company works to strengthen its premium portfolio with new partner Harley-Davidson.

Sixteen years ago, Rajendra Agarwal’s, 53, accumulated losses from the stock market stood at Rs 35 lakh. “After that, I stopped trading and exited the market. Over the next few years I paid back all my loans from profits I generated from my grocery shop,” said Agarwal, who owned a store in Pune.

Google said on Friday it will disable its search function in Australia if the government proceeds with a media code that would force it and Facebook Inc to pay local media companies for sharing their content.

Google parent Alphabet Inc is shutting down its internet balloon business, Loon, which aimed to provide a less expensive alternative to cell towers, saying on Thursday that “the road to commercial viability has proven much longer and riskier than hoped.”

A key job description of the central bank chief’s profile is that he must take away the punch bowl when the party gets started or, in other words, prevent markets from getting overheated. RBI governor Shaktikanta Das recently attempted to do just that by warning of the growing disconnect between segments of the financial markets … Continue reading Why RBI governor Shaktikanta Das rang alarm bells

Equity indices plunged on Friday with the benchmark BSE sensex falling nearly 750 points, dragged by bank and metal stocks. The 30-share BSE index fell 746 points or 1.50 per cent to close at 48,879; while the broader NSE Nifty settled 218 points or 1.50 per cent lower at 14,372.

The customary halwa ceremony, which marks the process of printing documents for the Union Budget, will be hosted by the finance ministry on Saturday ahead of the presentation of the Union Budget on Feb 1. Finance minister Nirmala Sitharaman, minister of state for finance Anurag Thakur, secretaries of finance ministry will be present at the … Continue reading Budget 2021: Halwa ceremony for to be held on Jan 23