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India has discovered a new oil reserve in the Krishna Godavari Basin, off the coast of Kakinada, Andhra Pradesh. The discovery was announced by Union Petroleum Minister Hardeep Singh Puri. Puri said that the first oil was extracted from the well on January 7, 2024. He added that the well is expected to produce 45,000 […]
Ecom Express, a leading provider of technology-driven logistics solutions, has created a new position of chief commercial officer at Ecom Express, and has hired Pankaj Singh, former founder of a proptech start-up – Multiliving Technologies, to fill the role from 4th January, 2024. Singh will be responsible for the company’s end-to-end procurement, including sourcing, spend […]
After successfully braving the rough waters of 2023, India is likely to remain as the world’s fastest-growing major economy in 2024 on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange (forex) reserves, says the latest Organization for Economic Cooperation and Development (OECD) report. Despite widespread pessimism witnessed among […]
Veteran Indian banker Uday Kotak has presented a comprehensive plan with seven key recommendations to propel India towards achieving a $30 trillion GDP by 2047. In a post on social media platform X, he says, “In the early 80s, the Indian saver had low confidence in financial assets versus gold and land. Slowly, the saver […]
Reliance Industries Limited (RIL) has demonstrated its commitment to reducing plastic waste and promoting a Circular Economy in India through a groundbreaking innovation. On 29th December 2023, RIL, the operator of the world’s largest integrated refining and petrochemical complex, made history by becoming the first Indian company to transform plastic waste-based pyrolysis oil into International […]
The Reserve Bank of India has mandated requirement for higher capital buffer for the State Bank of India (SBI) and HDFC Bank. Both the Banks have been upgraded one noth up within their respective buckets in the list of the domestic systemically important banks (D-SIBs). RBI informed that SBI has moved from bucket 3 to […]
It’s yet another affirmation that the Adani Group is moving on from the Hindenburg group’s report, accusing it of fraud and insider trading. According to a recent report, Adani Green Energy is considering raising Rs 9,350 crore through equity warrants on preferential basis to its promoter group. The company confirmed this in an exchange filing. The warrants […]
When it comes to celebrating the New Year, it’s different strokes for different folks. Vibes of India asked a cross-section of CEOs about their plans for the Winter Break this year and we got very divergent answers. Some are taking the opportunity to travel; others are celebrating at home and some have decided not to […]
Paytm, the flagship brand of One 97 Communications, has recently undertaken a significant measure to streamline its operations and reduce staff costs by 15 percent. The move resulted in the termination of more than 1,000 employees across various departments, including payments, lending, operations, and sales. This initiative, executed over the past few months, accounts for […]
Taxpayers rejoice! The Income Tax Department has released ITR forms 1 and 4, ahead of the usual March/April schedule, bringing early filing cheer to individuals and entities with an annual income up to ₹50 lakh. This applies to the assessment year (AY) 2024-25, covering income earned in the current fiscal year (April 2023-March 2024). This […]
In August 2023, the Goods and Services Tax Council was reported to have proposed a 28% tax rate to collect more revenue from India’s gambling industry. GST aimed to collect approximately 1 trillion rupees (around $12 billion) in tax if the newly proposed tax bill took effect. According to Reuters, the changes made to the Goods and Services Act would include a 28% tax rate on the total funds deposited to online gambling platforms. This led to some betting firms expressing their frustrations, with others laying off their employees. However, the country’s federal Finance Minister, […]
Former RBI governor Raghuram Rajan said that in the first half of the current fiscal year, the sharp increase in GDP is attributed to infrastructure spending and performance of large economies of the world. Rajan further said that even as India’s growth rate is strong, private investment and private consumption have not picked up. He […]
The India International Bullion Exchange (IIBX) at GIFT-IFSC marked a significant milestone on Wednesday as it commenced silver trading. Within just 30 minutes of the launch, the entire available quota of 3 metric tonnes was traded, demonstrating the robust demand in the market. The platform’s inauguration was presided over by Hasmukh Adhia, Chairman of Gift […]
Mumbai: In a bid to move closer to resolving its debt woes, Reliance Communications has received the green light from the National Company Law Tribunal (NCLT) Mumbai to sell several of its unencumbered real estate assets. This decision, announced on Wednesday, marks a significant step forward in the company’s restructuring efforts. The NCLT order grants […]
India’s economy continues to surge forward, and with it, the fortunes of its richest individuals. In 2023, Forbes’ India Rich List saw a record-breaking 169 Indians make it onto the global billionaires’ list, highlighting the country’s growing economic clout. Let’s delve into the top 10 wealthiest individuals in India, according to Forbes’ Real-Time Billionaires data […]
Multi-billionaire Gautam Adani announced that the Adani Group will invest ₹7 lakh crore over the next 10 years in multiple industries. Sharing the details on social media, Adani Group chairman Gautam Adani took to X highlighting in detail the new green initiative of his firm. Adani said on X, “By 2025, we will set a […]
Alternative Dispute Resolution (ADR) mechanism is a concept resorted to provide a substitute way to resolve disputes, when the conventional methods of judiciary reaches an impasse. A world famous and robust judicial system such as ours is one of the most established in entire world. Even then, our conventional system at times demonstrates it’s inefficiency […]
It was a historic milestone for Indian economy to reach when the Nifty index hit an all-time high of 21,006.10. Reflecting the robust health of Indian stock market with sustained interest from FII and more importantly increased interest from domestic retail investors, the Nifty Index crossed the 21000 benchmark for the first time. Nifty ended […]
India’s economy could rise to the third rank by 2030, S&P Global has projected. “India is set to become the third largest economy by 2030, and we expect it will be the fastest growing major economy in the next three years,” S&P Global was quoted as saying in its Global Credit Outlook 2024 report titled, […]
Shares of Adani Group companies, including the flagship Adani Enterprises, witnessed a strong rally in early trade on Tuesday. This was the company’s second day consecutive bull run after Monday’s positive sentiments that pushed its stocks. The spectacular rally in the listed companies of the Adani Group comes after the Bharatiya Janata Party’s decisive assembly […]
