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IndiaTV Business: Google News Feed: Digest for August 08, 2023

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The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Federation of Automobile Dealers Associations (FADA), an automobile industry body, said on Monday that India's auto retail deals saw a 10 percent yearly development in July, driven by strong sales across passenger vehicles, bikes, and business vehicles. FADA said its complete retail deals across fragments rose to 17,70,181 units last month, when contrasted with 16,09,217 units in July 2022, while traveler vehicle deals saw an ascent of 4% to 2,84,064 units last month when contrasted with 2,73,055 units in the year-ago period, reported news agency PTI.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Federation of Automobile Dealers Associations (FADA), an automobile industry body, said on Monday that India's auto retail deals saw a 10 percent yearly development in July, driven by strong sales across passenger vehicles, bikes, and business vehicles. FADA said its complete retail deals across fragments rose to 17,70,181 units last month, when contrasted with 16,09,217 units in July 2022, while traveler vehicle deals saw an ascent of 4% to 2,84,064 units last month when contrasted with 2,73,055 units in the year-ago period, reported news agency PTI.
The footwear industry has written to the Centre expressing its concerns over the BIS standards to be implemented on all kinds of footwear manufacturing saying that it welcomes the government's quality checks but believes that the current standards and implementation directions are not scientific.
India TV Poll Results: The Reserve Bank of India (RBI) is all set to hold a meeting of the six-member Monetary Policy Committee (MPC) on August 8 to discuss the concern about increasing the repo rate amid a jump in inflation. The decision of the meeting will be announced on August 10. With the skyrocketing price of tomatoes, the prices of all food items have increased rapidly. In such a situation, India TV conducted a poll to know the opinion of the public on this issue.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Federation of Automobile Dealers Associations (FADA), an automobile industry body, said on Monday that India's auto retail deals saw a 10 percent yearly development in July, driven by strong sales across passenger vehicles, bikes, and business vehicles. FADA said its complete retail deals across fragments rose to 17,70,181 units last month, when contrasted with 16,09,217 units in July 2022, while traveler vehicle deals saw an ascent of 4% to 2,84,064 units last month when contrasted with 2,73,055 units in the year-ago period, reported news agency PTI.
The footwear industry has written to the Centre expressing its concerns over the BIS standards to be implemented on all kinds of footwear manufacturing saying that it welcomes the government's quality checks but believes that the current standards and implementation directions are not scientific.
India TV Poll Results: The Reserve Bank of India (RBI) is all set to hold a meeting of the six-member Monetary Policy Committee (MPC) on August 8 to discuss the concern about increasing the repo rate amid a jump in inflation. The decision of the meeting will be announced on August 10. With the skyrocketing price of tomatoes, the prices of all food items have increased rapidly. In such a situation, India TV conducted a poll to know the opinion of the public on this issue.
Indian-origin Vaibhav Taneja has been appointed as the new Chief Financial Order (CF) of Tesla Inc., replacing Zachary Kirkhorn, who stepped down on August 4 after a 13-year tenure at the company.
Tesla news: Indian origin Vaibhav Taneja has been named as the new Tesla Chief Financial Officer (CFO) replacing Zachary Kirkhorn after four years in the role. According to reports, Elon Musk-led Tesla has not mentioned any specific reason for the departure of Kirkhorn.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Federation of Automobile Dealers Associations (FADA), an automobile industry body, said on Monday that India's auto retail deals saw a 10 percent yearly development in July, driven by strong sales across passenger vehicles, bikes, and business vehicles. FADA said its complete retail deals across fragments rose to 17,70,181 units last month, when contrasted with 16,09,217 units in July 2022, while traveler vehicle deals saw an ascent of 4% to 2,84,064 units last month when contrasted with 2,73,055 units in the year-ago period, reported news agency PTI.
The footwear industry has written to the Centre expressing its concerns over the BIS standards to be implemented on all kinds of footwear manufacturing saying that it welcomes the government's quality checks but believes that the current standards and implementation directions are not scientific.
India TV Poll Results: The Reserve Bank of India (RBI) is all set to hold a meeting of the six-member Monetary Policy Committee (MPC) on August 8 to discuss the concern about increasing the repo rate amid a jump in inflation. The decision of the meeting will be announced on August 10. With the skyrocketing price of tomatoes, the prices of all food items have increased rapidly. In such a situation, India TV conducted a poll to know the opinion of the public on this issue.
Indian-origin Vaibhav Taneja has been appointed as the new Chief Financial Order (CF) of Tesla Inc., replacing Zachary Kirkhorn, who stepped down on August 4 after a 13-year tenure at the company.
Tesla news: Indian origin Vaibhav Taneja has been named as the new Tesla Chief Financial Officer (CFO) replacing Zachary Kirkhorn after four years in the role. According to reports, Elon Musk-led Tesla has not mentioned any specific reason for the departure of Kirkhorn.
Punjab finance minister Harpal Singh Cheema on Monday said the state has registered an increase of 16.5 per cent and 20.87 per cent in revenue from Goods and Services Tax (GST) and excise, respectively during the first four months of the financial year 2023-24. The state's GST collection stood at Rs 6,810.76 crore, and the mop-up from excise was Rs 3,033.78 crore during the April-July period of the current fiscal.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Federation of Automobile Dealers Associations (FADA), an automobile industry body, said on Monday that India's auto retail deals saw a 10 percent yearly development in July, driven by strong sales across passenger vehicles, bikes, and business vehicles. FADA said its complete retail deals across fragments rose to 17,70,181 units last month, when contrasted with 16,09,217 units in July 2022, while traveler vehicle deals saw an ascent of 4% to 2,84,064 units last month when contrasted with 2,73,055 units in the year-ago period, reported news agency PTI.
The footwear industry has written to the Centre expressing its concerns over the BIS standards to be implemented on all kinds of footwear manufacturing saying that it welcomes the government's quality checks but believes that the current standards and implementation directions are not scientific.
India TV Poll Results: The Reserve Bank of India (RBI) is all set to hold a meeting of the six-member Monetary Policy Committee (MPC) on August 8 to discuss the concern about increasing the repo rate amid a jump in inflation. The decision of the meeting will be announced on August 10. With the skyrocketing price of tomatoes, the prices of all food items have increased rapidly. In such a situation, India TV conducted a poll to know the opinion of the public on this issue.
Indian-origin Vaibhav Taneja has been appointed as the new Chief Financial Order (CF) of Tesla Inc., replacing Zachary Kirkhorn, who stepped down on August 4 after a 13-year tenure at the company.
Tesla news: Indian origin Vaibhav Taneja has been named as the new Tesla Chief Financial Officer (CFO) replacing Zachary Kirkhorn after four years in the role. According to reports, Elon Musk-led Tesla has not mentioned any specific reason for the departure of Kirkhorn.
Punjab finance minister Harpal Singh Cheema on Monday said the state has registered an increase of 16.5 per cent and 20.87 per cent in revenue from Goods and Services Tax (GST) and excise, respectively during the first four months of the financial year 2023-24. The state's GST collection stood at Rs 6,810.76 crore, and the mop-up from excise was Rs 3,033.78 crore during the April-July period of the current fiscal.
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