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IndiaTV Business: Google News Feed: Digest for January 30, 2024

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India's foreign exchange reserves decline by USD 2.8 billion

Saturday 27 January 2024 04:14 AM UTC+00
Business news: India's foreign exchange reserves declined by USD 2.795 billion to USD 616.143 billion in the week that ended on January 19, 2023, the latest data released by the Reserve Bank of India (RBI) showed. During the week, India's foreign currency assets (FCA), the biggest component of the forex reserves, declined by USD 2.653 billion to USD 545.855 billion, the central bank's weekly statistical data showed.
Budget 2024: The government has reduced its budgetary support to state-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), by halving the equity infusion to Rs 15,000 crore.
Budget 2024: Finance Minister Nirmala Sitharaman is set to make history by presenting her sixth consecutive budget on February 1, matching the record held by former Prime Minister Morarji Desai.
Binny Bansal, the co-founder of Flipkart, has officially resigned from the board of the e-commerce giant after recently selling his remaining stake in the startup. His departure follows earlier reports indicating his intention to re-enter the e-commerce space, following in the footsteps of his co-founder, Sachin Bansal, who left Flipkart a few years ago to pursue a fintech venture called Navi.
Ola Mobility is planning to deploy 10,000 electric two-wheelers across three cities in the next two months and gradually scale up its service across the country by the end of year.
BLS International's subsidiary, BLS E-Services, is set to launch its initial public offering (IPO) on January 30, with the subscription window open until February 1.
Yes Bank reported a net profit of Rs 231 crore for the October-December quarter of 2023-24, 349.70 per cent higher Rs 52 crore figure in the same period the previous year, which was significantly impacted by provisions made for the transfer of sour loans to an asset reconstruction company.
The government is working on reforms in the Special Economic Zone (SEZ) domain to facilitate the smooth movement of goods between the domestic tariff area (DTA) and SEZ space without compromising the competitiveness of goods in export markets, according to Commerce Secretary Sunil Barthwal.
The rapid growth of e-commerce in tier-2 and tier-3 cities is the key driving factor behind the rise of the online retail market. According to Deloitte India, online retail penetration is projected to grow at an extraordinary rate in the coming years, and the size of the online retail market could touch USD 325 billion by 2030, compared to USD 70 billion in 2022.
India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors.
Binny Bansal, the co-founder of Flipkart, has officially resigned from the board of the e-commerce giant after recently selling his remaining stake in the startup. His departure follows earlier reports indicating his intention to re-enter the e-commerce space, following in the footsteps of his co-founder, Sachin Bansal, who left Flipkart a few years ago to pursue a fintech venture called Navi.
Ola Mobility is planning to deploy 10,000 electric two-wheelers across three cities in the next two months and gradually scale up its service across the country by the end of year.
BLS International's subsidiary, BLS E-Services, is set to launch its initial public offering (IPO) on January 30, with the subscription window open until February 1.
Yes Bank reported a net profit of Rs 231 crore for the October-December quarter of 2023-24, 349.70 per cent higher Rs 52 crore figure in the same period the previous year, which was significantly impacted by provisions made for the transfer of sour loans to an asset reconstruction company.
The government is working on reforms in the Special Economic Zone (SEZ) domain to facilitate the smooth movement of goods between the domestic tariff area (DTA) and SEZ space without compromising the competitiveness of goods in export markets, according to Commerce Secretary Sunil Barthwal.
The rapid growth of e-commerce in tier-2 and tier-3 cities is the key driving factor behind the rise of the online retail market. According to Deloitte India, online retail penetration is projected to grow at an extraordinary rate in the coming years, and the size of the online retail market could touch USD 325 billion by 2030, compared to USD 70 billion in 2022.
India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors.
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
BLS International's subsidiary, BLS E-Services, is set to launch its initial public offering (IPO) on January 30, with the subscription window open until February 1.
Yes Bank reported a net profit of Rs 231 crore for the October-December quarter of 2023-24, 349.70 per cent higher Rs 52 crore figure in the same period the previous year, which was significantly impacted by provisions made for the transfer of sour loans to an asset reconstruction company.
The government is working on reforms in the Special Economic Zone (SEZ) domain to facilitate the smooth movement of goods between the domestic tariff area (DTA) and SEZ space without compromising the competitiveness of goods in export markets, according to Commerce Secretary Sunil Barthwal.
The rapid growth of e-commerce in tier-2 and tier-3 cities is the key driving factor behind the rise of the online retail market. According to Deloitte India, online retail penetration is projected to grow at an extraordinary rate in the coming years, and the size of the online retail market could touch USD 325 billion by 2030, compared to USD 70 billion in 2022.
India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors.
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in total liabilities. The decision comes more than two years after Evergrande defaulted on a bond repayment and follows several court hearings where the company failed to present a concrete restructuring plan.
Several leading firms in the automobile industry are urging the government to maintain favourable policies for promoting green mobility and focus on robust infrastructure development in the upcoming Budget, scheduled for presentation on February 1.
The rapid growth of e-commerce in tier-2 and tier-3 cities is the key driving factor behind the rise of the online retail market. According to Deloitte India, online retail penetration is projected to grow at an extraordinary rate in the coming years, and the size of the online retail market could touch USD 325 billion by 2030, compared to USD 70 billion in 2022.
India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors.
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in total liabilities. The decision comes more than two years after Evergrande defaulted on a bond repayment and follows several court hearings where the company failed to present a concrete restructuring plan.
Several leading firms in the automobile industry are urging the government to maintain favourable policies for promoting green mobility and focus on robust infrastructure development in the upcoming Budget, scheduled for presentation on February 1.
Over the years, the presentation of the Union Budget in India has undergone a significant transformation. Traditionally, finance ministers were photographed carrying a briefcase into Parliament for the event. However, in 2019, Finance Minister Nirmala Sitharaman departed from this tradition and introduced a 'bahi khata,' a traditional Indian accounting ledger, replacing the colonial-era briefcase.
Equity benchmarks Sensex and Nifty saw a robust recovery on Monday, surging nearly 2 per cent, driven by strong buying in Reliance Industries and a positive trend in Asian markets.
India is projected to become the world's third-largest economy, reaching a GDP of USD 5 trillion in the next three years and aiming for USD 7 trillion by 2030, according to the Finance Ministry.
India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA). Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power generation, refinery and industrial sectors.
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in total liabilities. The decision comes more than two years after Evergrande defaulted on a bond repayment and follows several court hearings where the company failed to present a concrete restructuring plan.
Several leading firms in the automobile industry are urging the government to maintain favourable policies for promoting green mobility and focus on robust infrastructure development in the upcoming Budget, scheduled for presentation on February 1.
Over the years, the presentation of the Union Budget in India has undergone a significant transformation. Traditionally, finance ministers were photographed carrying a briefcase into Parliament for the event. However, in 2019, Finance Minister Nirmala Sitharaman departed from this tradition and introduced a 'bahi khata,' a traditional Indian accounting ledger, replacing the colonial-era briefcase.
Equity benchmarks Sensex and Nifty saw a robust recovery on Monday, surging nearly 2 per cent, driven by strong buying in Reliance Industries and a positive trend in Asian markets.
India is projected to become the world's third-largest economy, reaching a GDP of USD 5 trillion in the next three years and aiming for USD 7 trillion by 2030, according to the Finance Ministry.
Industrialist Kumar Mangalam Birla expressed optimism about the Indian economy, stating that its vibrant energy is "looking like a wow."
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in total liabilities. The decision comes more than two years after Evergrande defaulted on a bond repayment and follows several court hearings where the company failed to present a concrete restructuring plan.
Several leading firms in the automobile industry are urging the government to maintain favourable policies for promoting green mobility and focus on robust infrastructure development in the upcoming Budget, scheduled for presentation on February 1.
Over the years, the presentation of the Union Budget in India has undergone a significant transformation. Traditionally, finance ministers were photographed carrying a briefcase into Parliament for the event. However, in 2019, Finance Minister Nirmala Sitharaman departed from this tradition and introduced a 'bahi khata,' a traditional Indian accounting ledger, replacing the colonial-era briefcase.
Equity benchmarks Sensex and Nifty saw a robust recovery on Monday, surging nearly 2 per cent, driven by strong buying in Reliance Industries and a positive trend in Asian markets.
India is projected to become the world's third-largest economy, reaching a GDP of USD 5 trillion in the next three years and aiming for USD 7 trillion by 2030, according to the Finance Ministry.
Industrialist Kumar Mangalam Birla expressed optimism about the Indian economy, stating that its vibrant energy is "looking like a wow."
Former Railway Board chairman Anil Kumar Lahoti was appointed as the chief of the Telecom Regulatory Authority of India (TRAI) on Monday. 
FASTag KYC update: If you are planning to take your vehicles on highways, then we have an important update for you. To avoid inconvenience, ensure your Fastag KYC is updated as soon as possible. All FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by banks after January 31 even if having enough balance, the National Highway Authority of India (NHAI) has announced. The move aims to prevent the issuance of multiple FASTags for a single vehicle, the distribution of FASTags without KYC verification, and the intentional non-fixing of FASTags on vehicle windscreens.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 503.47 points to 71,204.14. Meanwhile, the Nifty was also up by 178.55 points to 21,531.15 points. 
Nova AgriTech is set to finalise the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive messages, alerts, or emails regarding the debit of funds or revocations of the IPO mandate by the end of Monday.
A Hong Kong court has ordered the liquidation of China Evergrande Group, the world's most indebted property developer with over $300 billion in total liabilities. The decision comes more than two years after Evergrande defaulted on a bond repayment and follows several court hearings where the company failed to present a concrete restructuring plan.
Several leading firms in the automobile industry are urging the government to maintain favourable policies for promoting green mobility and focus on robust infrastructure development in the upcoming Budget, scheduled for presentation on February 1.
Over the years, the presentation of the Union Budget in India has undergone a significant transformation. Traditionally, finance ministers were photographed carrying a briefcase into Parliament for the event. However, in 2019, Finance Minister Nirmala Sitharaman departed from this tradition and introduced a 'bahi khata,' a traditional Indian accounting ledger, replacing the colonial-era briefcase.
Equity benchmarks Sensex and Nifty saw a robust recovery on Monday, surging nearly 2 per cent, driven by strong buying in Reliance Industries and a positive trend in Asian markets.
India is projected to become the world's third-largest economy, reaching a GDP of USD 5 trillion in the next three years and aiming for USD 7 trillion by 2030, according to the Finance Ministry.
Industrialist Kumar Mangalam Birla expressed optimism about the Indian economy, stating that its vibrant energy is "looking like a wow."
Former Railway Board chairman Anil Kumar Lahoti was appointed as the chief of the Telecom Regulatory Authority of India (TRAI) on Monday. 
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