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IndiaTV Business: Google News Feed: Digest for February 01, 2024

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Former Railway Board chairman Anil Kumar Lahoti was appointed as the chief of the Telecom Regulatory Authority of India (TRAI) on Monday. 
Stock markets update: Equity benchmark indices declined in early trade on Tuesday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 94.08 points to 71,847.49 in early trade. Meanwhile, the Nifty declined 31.6 points to 21,706 points. 
The Department of Telecom (DoT) has instructed telecom service operators to conduct a security audit of their systems in response to claims by cybersecurity firm CloudSEK that data on 750 million Indian subscribers has been leaked, according to a government official.
Union Finance Minister Nirmala Sitharaman is set to present the interim budget for the fiscal year 2024-25 on February 1, marking the last budget of the Narendra Modi government before the Lok Sabha elections.

Budget 2024: 10 facts about the Union Budget you should know

Tuesday 30 January 2024 07:52 AM UTC+00
Union Finance Minister Nirmala Sitharaman is scheduled to present the budget for the fiscal year 2024-25 on February 1.
BLS E-Services Ltd.'s Initial Public Offering (IPO) witnessed full subscription within minutes of opening for subscription on Tuesday. The Rs 311 crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into a 4.26-time subscription as per NSE data until 11:57 hours.
The Nifty closed 207.05 points, or 0.95 per cent lower at 21,530.55 points, while the BSE Sensex ended Tuesday's trading session 760.07 points, or 1.06 per cent lower at 71,181.50 points.
Meesho, a Softbank-backed e-commerce platform, said on Tuesday that it has delisted almost 2 lakh products from its platform in the last quarter following quality checks.
EPACK Durable Ltd shares concluded their debut trade with a nearly 10 per cent decline against the issue price of Rs 230. EPACK Durable specialises in manufacturing room air conditioners and small household appliances.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
Former Railway Board chairman Anil Kumar Lahoti was appointed as the chief of the Telecom Regulatory Authority of India (TRAI) on Monday. 
Stock markets update: Equity benchmark indices declined in early trade on Tuesday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 94.08 points to 71,847.49 in early trade. Meanwhile, the Nifty declined 31.6 points to 21,706 points. 
The Department of Telecom (DoT) has instructed telecom service operators to conduct a security audit of their systems in response to claims by cybersecurity firm CloudSEK that data on 750 million Indian subscribers has been leaked, according to a government official.
Union Finance Minister Nirmala Sitharaman is set to present the interim budget for the fiscal year 2024-25 on February 1, marking the last budget of the Narendra Modi government before the Lok Sabha elections.

Budget 2024: 10 facts about the Union Budget you should know

Tuesday 30 January 2024 07:52 AM UTC+00
Union Finance Minister Nirmala Sitharaman is scheduled to present the budget for the fiscal year 2024-25 on February 1.
BLS E-Services Ltd.'s Initial Public Offering (IPO) witnessed full subscription within minutes of opening for subscription on Tuesday. The Rs 311 crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into a 4.26-time subscription as per NSE data until 11:57 hours.
The Nifty closed 207.05 points, or 0.95 per cent lower at 21,530.55 points, while the BSE Sensex ended Tuesday's trading session 760.07 points, or 1.06 per cent lower at 71,181.50 points.
Meesho, a Softbank-backed e-commerce platform, said on Tuesday that it has delisted almost 2 lakh products from its platform in the last quarter following quality checks.
EPACK Durable Ltd shares concluded their debut trade with a nearly 10 per cent decline against the issue price of Rs 230. EPACK Durable specialises in manufacturing room air conditioners and small household appliances.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
Union Finance Minister Nirmala Sitharaman is set to present the interim budget for the fiscal year 2024-25 on February 1, marking the last budget of the Narendra Modi government before the Lok Sabha elections.

Budget 2024: 10 facts about the Union Budget you should know

Tuesday 30 January 2024 07:52 AM UTC+00
Union Finance Minister Nirmala Sitharaman is scheduled to present the budget for the fiscal year 2024-25 on February 1.
BLS E-Services Ltd.'s Initial Public Offering (IPO) witnessed full subscription within minutes of opening for subscription on Tuesday. The Rs 311 crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into a 4.26-time subscription as per NSE data until 11:57 hours.
The Nifty closed 207.05 points, or 0.95 per cent lower at 21,530.55 points, while the BSE Sensex ended Tuesday's trading session 760.07 points, or 1.06 per cent lower at 71,181.50 points.
Meesho, a Softbank-backed e-commerce platform, said on Tuesday that it has delisted almost 2 lakh products from its platform in the last quarter following quality checks.
EPACK Durable Ltd shares concluded their debut trade with a nearly 10 per cent decline against the issue price of Rs 230. EPACK Durable specialises in manufacturing room air conditioners and small household appliances.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
BLS E-Services Ltd.'s Initial Public Offering (IPO) witnessed full subscription within minutes of opening for subscription on Tuesday. The Rs 311 crore IPO received bids for 5,83,39,440 shares against 1,37,02,904 shares on offer, translating into a 4.26-time subscription as per NSE data until 11:57 hours.
The Nifty closed 207.05 points, or 0.95 per cent lower at 21,530.55 points, while the BSE Sensex ended Tuesday's trading session 760.07 points, or 1.06 per cent lower at 71,181.50 points.
Meesho, a Softbank-backed e-commerce platform, said on Tuesday that it has delisted almost 2 lakh products from its platform in the last quarter following quality checks.
EPACK Durable Ltd shares concluded their debut trade with a nearly 10 per cent decline against the issue price of Rs 230. EPACK Durable specialises in manufacturing room air conditioners and small household appliances.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead, the interim budget and the US Fed interest rate decision—to derive further cues.
As the Modi government prepares to unveil the interim budget for 2024 on February 1, this will mark Finance Minister Nirmala Sitharaman's sixth budget. Given that this is an election year, the budget to be presented is set to be a vote-on-account, with a full-fledged budget slated for post-Lok Sabha elections in 2024.
The Reserve Bank of India (RBI) has taken the decision to prohibit Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags, and more after February 29, 2024. The action by the RBI is a result of a comprehensive system audit report and subsequent compliance validation report by external auditors, which identified persistent non-compliances and ongoing material supervisory concerns at the bank.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.
The Initial Public Offering (IPO) of BLS E-Services Ltd witnessed overwhelming demand, getting fully subscribed within minutes of opening for bidding on Tuesday. The IPO ended the day with 15.63 times subscription, receiving bids for 21,41,26,416 shares against 1,37,02,904 shares on offer, according to NSE data.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead, the interim budget and the US Fed interest rate decision—to derive further cues.
As the Modi government prepares to unveil the interim budget for 2024 on February 1, this will mark Finance Minister Nirmala Sitharaman's sixth budget. Given that this is an election year, the budget to be presented is set to be a vote-on-account, with a full-fledged budget slated for post-Lok Sabha elections in 2024.
The Reserve Bank of India (RBI) has taken the decision to prohibit Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags, and more after February 29, 2024. The action by the RBI is a result of a comprehensive system audit report and subsequent compliance validation report by external auditors, which identified persistent non-compliances and ongoing material supervisory concerns at the bank.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead, the interim budget and the US Fed interest rate decision—to derive further cues.
As the Modi government prepares to unveil the interim budget for 2024 on February 1, this will mark Finance Minister Nirmala Sitharaman's sixth budget. Given that this is an election year, the budget to be presented is set to be a vote-on-account, with a full-fledged budget slated for post-Lok Sabha elections in 2024.
The Reserve Bank of India (RBI) has taken the decision to prohibit Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags, and more after February 29, 2024. The action by the RBI is a result of a comprehensive system audit report and subsequent compliance validation report by external auditors, which identified persistent non-compliances and ongoing material supervisory concerns at the bank.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.

FASTag KYC compliance deadline extended by one month

Wednesday 31 January 2024 04:53 PM UTC+00
FASTags update: Indian Highways Management Company, an arm of state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month, a senior government official said today (January 31). Earlier on January 15, the National Highways Authority of India (NHAI) said FASTags with valid balances but incomplete KYC will get deactivated by banks post-January 31, 2024.
The government has appointed former expenditure secretary Ajay Narayan Jha and SBI Group Chief Economic Advisor Soumya Kanti Ghosh, along with two other members, to the newly-formed 16th Finance Commission. Arvind Panagariya, former vice chairman of Niti Aayog, is appointed as the chairman. The commission will have four members, assisted by Secretary Ritvik Ranjanam Pandey, two joint secretaries, and one economic advisor.
Benchmark equity indices started the day on a bearish note on Wednesday, influenced by weak Asian markets and fresh foreign fund outflows.
President Droupadi Murmu addressed a joint sitting of Parliament, highlighting that 2023 was a historic year for India as it maintained its status as the fastest-growing major economy despite the global crisis. The Indian economy registered growth rates of 7.80 per cent and 7.60 per cent during the April-June and July-September quarters of the financial year 2023-24, respectively.
The government has cut the import duty on essential components used in mobile phone production as part of a strategic move to boost export activities. The finance ministry announced the reduction in import duty rates from 15 per cent to 10 per cent through a notification on Tuesday.
India is set to deviate from its usual practice of presenting the Economic Survey on January 31, with Finance Minister Nirmala Sitharaman opting to deliver an interim budget, or a vote-on-account, on February 1, 2024.
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead, the interim budget and the US Fed interest rate decision—to derive further cues.
As the Modi government prepares to unveil the interim budget for 2024 on February 1, this will mark Finance Minister Nirmala Sitharaman's sixth budget. Given that this is an election year, the budget to be presented is set to be a vote-on-account, with a full-fledged budget slated for post-Lok Sabha elections in 2024.
The Reserve Bank of India (RBI) has taken the decision to prohibit Paytm Payments Bank Ltd (PPBL) from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags, and more after February 29, 2024. The action by the RBI is a result of a comprehensive system audit report and subsequent compliance validation report by external auditors, which identified persistent non-compliances and ongoing material supervisory concerns at the bank.
India's eight core sectors recorded a growth of 3.8 per cent in December, as per data released by the Ministry of Commerce and Industry on January 31. This growth rate, observed in key infrastructure industries including coal, crude oil, steel, cement, electricity, fertilisers, refinery products, and natural gas, marks the lowest in 14 months.

FASTag KYC compliance deadline extended by one month

Wednesday 31 January 2024 04:53 PM UTC+00
FASTags update: Indian Highways Management Company, an arm of state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month, a senior government official said today (January 31). Earlier on January 15, the National Highways Authority of India (NHAI) said FASTags with valid balances but incomplete KYC will get deactivated by banks post-January 31, 2024.
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