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IndiaTV Business: Google News Feed: Digest for September 03, 2023

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Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
Shares of Jio Financial Services Ltd (JFSL), the demerged financial services unit of Reliance Industries, on Wednesday touched its upper circuit limit for the third consecutive day. Jio Financial Services jumped by 4.99 per cent to close at Rs 232.70 apiece -- its upper circuit limit -- on the BSE.
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The Adani Group on Thursday rejected the allegations of using 'opaque' Mauritius funds for trading its publicly traded stocks. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
The latest data released by the National Statistical Data (NSO) on Thursday revealed that India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. 
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The commerce ministry has recommended an anti-dumping duty of up to USD 243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from the neighbouring country. The finance ministry will take a final decision on imposing the duty.
Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39 per cent to close at 64,831.41 points with 22 of its constituents ending in the red.
State-owned SAIL on Thursday said it has supplied 4,000 tonnes of steel plates for the construction of the seventh frigate ship as part of the P17A project of the Indian Navy.

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The commerce ministry has recommended an anti-dumping duty of up to USD 243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from the neighbouring country. The finance ministry will take a final decision on imposing the duty.
Kotak Mahindra Bank Managing Director and Chief Executive Officer (CEO) Uday Kotak has resigned from his post with effect from September 1. The resignation comes four months ahead of his retirement on December 31. However, Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges on Saturday.  
As Indian economy continues to expand at a faster pace, the non-banking financial companies (NBFCs) are forming a major part of the financial lending sector. These financial institutions have greatly contributed to growing the economy. NBFCs are regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). They have emerged as a vital source of credit for micro, small and medium enterprises (MSMEs)

Government exempts LPG imports from 15 per cent agri cess

Friday 01 September 2023 02:15 AM UTC+00
LPG: The government has exempted imports of LPG, liquified propane and liquified butane from 15 per cent agri cess with effect from today (September 1). The government had in July imposed a 15 per cent agri cess on imports of these goods.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The commerce ministry has recommended an anti-dumping duty of up to USD 243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from the neighbouring country. The finance ministry will take a final decision on imposing the duty.
Kotak Mahindra Bank Managing Director and Chief Executive Officer (CEO) Uday Kotak has resigned from his post with effect from September 1. The resignation comes four months ahead of his retirement on December 31. However, Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges on Saturday.  
As the Indian economy continues to expand at a faster pace, non-banking financial companies (NBFCs) are forming a major part of the financial lending sector. These financial institutions have greatly contributed to growing the economy. NBFCs are regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). They have emerged as a vital source of credit for micro, small, and medium enterprises (MSMEs).
The Indian ceramic tile market is estimated to grow at a CAGR of 8.6 per cent and reach $7,144.7 million by 2027. According to a report by ICICI Securities, the margin uptrend will continue as input prices remain benign. Looking to cash in on the growth opportunity, Delhi-based Exxar Tiles has announced the unveiling of a new showroom in Mumbai as part of its expansion spree. 
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI) asserted that steps have been taken to make keypad mobile phones also operate the UPI payment system.  While addressing a program at Devi Ahilya Vishwavidyalaya (DAVV) in Madhya Pradesh's Indore district on Friday, he also said that he was sharing information in his central board meeting that the number of transactions for the month in the UPI exceeded 10 billion in the month of August.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The commerce ministry has recommended an anti-dumping duty of up to USD 243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from the neighbouring country. The finance ministry will take a final decision on imposing the duty.
Kotak Mahindra Bank Managing Director and Chief Executive Officer (CEO) Uday Kotak has resigned from his post with effect from September 1. The resignation comes four months ahead of his retirement on December 31. However, Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges on Saturday.  
As the Indian economy continues to expand at a faster pace, non-banking financial companies (NBFCs) are forming a major part of the financial lending sector. These financial institutions have greatly contributed to growing the economy. NBFCs are regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). They have emerged as a vital source of credit for micro, small, and medium enterprises (MSMEs).
The Indian ceramic tile market is estimated to grow at a CAGR of 8.6 per cent and reach $7,144.7 million by 2027. According to a report by ICICI Securities, the margin uptrend will continue as input prices remain benign. Looking to cash in on the growth opportunity, Delhi-based Exxar Tiles has announced the unveiling of a new showroom in Mumbai as part of its expansion spree. 
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI) asserted that steps have been taken to make keypad mobile phones also operate the UPI payment system.  While addressing a program at Devi Ahilya Vishwavidyalaya (DAVV) in Madhya Pradesh's Indore district on Friday, he also said that he was sharing information in his central board meeting that the number of transactions for the month in the UPI exceeded 10 billion in the month of August.

RBI Governor Shaktikanta Das ranked top central banker globally

Saturday 02 September 2023 06:12 PM UTC+00
Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally by US-based Global Finance magazine. Das has been rated 'A+' in the Global Finance Central Banker Report Cards 2023.
Days after the price of Domestic LPG was slashed, Public sector Oil Marketing Companies (OMCs) have reduced the price of 19 KG commercial LPG gas cylinders by Rs 158, sources said on Friday (September 1).
There have been many changes which would come into effect from September and would have a great impact on the common man. This includes everything from gas prices to credit card rules.
The Reserve Bank of India on Friday informed that about 93 per cent of Rs 2,000 currency notes have been returned to the banks.
The Competition Commission of India (CCI) on Friday approved the merger of Air India-Vistara with subject to certain conditions. Taking to X (formerly known as Twitter), the CCI said that it has given a nod to the merger. "CCI approves the merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance of voluntary commitments offered by the parties," it added. 
The commerce ministry has recommended an anti-dumping duty of up to USD 243 per tonne of import of Chinese glass used in home appliances with a view to guard domestic players from cheap inbound shipments from the neighbouring country. The finance ministry will take a final decision on imposing the duty.
Kotak Mahindra Bank Managing Director and Chief Executive Officer (CEO) Uday Kotak has resigned from his post with effect from September 1. The resignation comes four months ahead of his retirement on December 31. However, Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges on Saturday.  
As the Indian economy continues to expand at a faster pace, non-banking financial companies (NBFCs) are forming a major part of the financial lending sector. These financial institutions have greatly contributed to growing the economy. NBFCs are regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). They have emerged as a vital source of credit for micro, small, and medium enterprises (MSMEs).
The Indian ceramic tile market is estimated to grow at a CAGR of 8.6 per cent and reach $7,144.7 million by 2027. According to a report by ICICI Securities, the margin uptrend will continue as input prices remain benign. Looking to cash in on the growth opportunity, Delhi-based Exxar Tiles has announced the unveiling of a new showroom in Mumbai as part of its expansion spree. 
Shaktikanta Das, the Governor of the Reserve Bank of India (RBI) asserted that steps have been taken to make keypad mobile phones also operate the UPI payment system.  While addressing a program at Devi Ahilya Vishwavidyalaya (DAVV) in Madhya Pradesh's Indore district on Friday, he also said that he was sharing information in his central board meeting that the number of transactions for the month in the UPI exceeded 10 billion in the month of August.

RBI Governor Shaktikanta Das ranked top central banker globally

Saturday 02 September 2023 06:12 PM UTC+00
Reserve Bank of India Governor Shaktikanta Das has been ranked as the top central banker globally by US-based Global Finance magazine. Das has been rated 'A+' in the Global Finance Central Banker Report Cards 2023.
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