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IndiaTV Business: Google News Feed: Digest for August 13, 2023

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The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Adani Ports has named MSKA & Associates, an independent member firm of BDO International, as its new auditor, after Deloitte resigned from the role amid concerns saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a US short seller. The resignation comes weeks after Deloitte raised concern over certain transactions flagged in the report of Hindenburg Research.
The Arunachal Pradesh government on Saturday inked memorandums of agreement with three central public sector undertakings for the development of 12 hydropower projects with a total capacity of 11,523 MW in the state. An estimated investment of Rs 1,42,000 crore would be made while executing the projects, officials said.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
Recycling player Vikas Ecotech has announced that it has significantly cut its debt in the current financial as it aims to achieve the target of becoming a debt-free entity. The development assumes significance as it comes in the backdrop of the government's efforts to support small and medium enterprises that contribute more than 30 per cent to the country's GDP.
The steel industry is bouncing back with falling input costs and firm demand in the domestic market in the backdrop of rise in economic activities. Tapping the rising market demand, leading pipe manufacturer and supplier Hi-Tech Pipes announced that it has posted a whopping 80 per cent jump in its consolidated net profit on YoY basis in the first quarter of the current financial year.
As India's start-up economy faces a potential funding winter in 2023, employer branding can indeed play a significant role in giving the sector a much-needed boost. Indian start-ups may position themselves for success even in the face of a funding winter and maintain their attractiveness to both talent and investors by investing in a strong employer brand.
In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
Adani Ports has named MSKA & Associates, an independent member firm of BDO International, as its new auditor, after Deloitte resigned from the role amid concerns saying the auditor wanted a wider remit over other firms in the conglomerate following the report of a US short seller. The resignation comes weeks after Deloitte raised concern over certain transactions flagged in the report of Hindenburg Research.
The Arunachal Pradesh government on Saturday inked memorandums of agreement with three central public sector undertakings for the development of 12 hydropower projects with a total capacity of 11,523 MW in the state. An estimated investment of Rs 1,42,000 crore would be made while executing the projects, officials said.
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