Business News - English

Gold prices went down and Silver prices remained unchanged on the Multi Commodity Index on Thursday. The average price of 1 gram of 22K Gold stood at ₹5,390 while the 24K gold prices stood at ₹5,880. The rate of 10 grams of 24K gold in Chennai stood at ₹59,020, which was followed by Delhi and Lucknow where the gold costs ₹58,950. The average price of 10gm of Silver was at ₹742 and 1 kg of silver s...

As the festive season unfolds in October, various public holidays will affect banking operations, including the celebrated festivals such as Dussehra. The Reserve Bank of India has released a comprehensive list of bank holidays for the month, which comprises 18 holidays, including both second and fourth Saturdays, as well as Sundays. Per RBI guidelines, all banks, including public sector, private...

As the month of September draws to a close, Indian equities find themselves facing an unusual scenario - Foreign Portfolio Investors (FPIs) have turned into net sellers for the first time in seven months. The exit of foreign investors from Indian markets has been driven by several factors, including rising bond yields and the allure of a stronger US Dollar. So far this month, FPIs have withdrawn o...

Cricket enthusiasts and travellers, brace yourselves for soaring hotel and airline fares during the ICC Cricket World Cup 2023. According to a recent report by Jefferies, the upcoming World Cup is set to send hotel and flight prices skyrocketing, with average fare increases of 150% and 80%, respectively, on match days. World Cup Coinciding with Seasonal Peak The 46-day international cricket event,...

The eagerly anticipated Flipkart Big Billion Days Sale for 2023 is just around the corner, promising a treasure trove of offers, discounts, and deals spanning various product categories, from electronics to clothing. If you've been eagerly awaiting this sale, here's everything you need to know: Flipkart Big Billion Days 2023 Sale: When is it taking place? While the precise dates for the Flipkart B...

The travel and tourism sector in India experienced a remarkable 44% increase in hiring demand in August compared to the same month the previous year, as reported on Wednesday. This substantial growth can be attributed to rising disposable incomes and increased spending on both leisure and business travel within the country. This data comes from a report by foundit (formerly Monster APAC & ME). Bef...

The casual gaming industry in India is expected to experience strong growth in the coming years. One Indian startup making waves in this space is Gamezop. For the seventh episode of our series 'Startup to Scaleup,' we interviewed Gamezop's co-founder, Gaurav Agarwal. Delhi-based Gamezop is a multi-game, plug-and-play platform that has partnered with various social media, e-commerce, video streamin...

Bengaluru Bandh: A dawn-to-dusk Bandh was observed on Tuesday in Bengaluru against releasing Cauvery water to Tamil Nadu. Now, pro-Kannada organisations have called for another Bandh on September 29. Bengaluru Bandh disrupts economic activities According to the Times of India, industry bodies such as Karnataka Employers Association(KEA) and Karnataka Chambers of Commerce and Industry (FKCCI) predi...

Tensions between India and Canada escalated after Canadian Prime Minister Justin Trudeau accused India of killing Canadian Sikh leader Hardeep Singh Nijjar. Along with diplomatic rift, this move has also put billions of dollars under pressure. Lentil Import Slows Down After this irrational claim by Trudeau, India has slowed down the import of lentils from Canada. The Delhi Chamber of Trade and Ind...

Zepto, the newly crowned unicorn in the e-commerce sector, has claimed the top position as the favored workplace for Indian professionals, according to a ranking released by a prominent recruitment platform. Other startups featured in the ranking, following closely behind the e-grocery app Zepto, include EV cab aggregator BluSmart, fintech firm Ditto Insurance, audio OTT platform Pocket FM, and Sk...

Akasa Crisis: The Bombay High Court on Wednesday has given Akasa Air permission to proceed against the pilots who allegedly quit the company without serving their notice period. Akasa Air sues Pilots Justice SM Modak in his oral order has said that the company can approach the court in Mumbai. The airline had filed a suit against six pilots and have asked for a compensation of Rs 21 crore. It has...

Reserve Bank of India's Deputy Governor Swaminathan J has said that banks must ensure their employees understand that the primary responsibility is to serve a customers’ financial needs. He further mentioned that banks should have a policy on customer appropriateness and product suitability framework to help reduce mis-selling. “Being commercial entities, there’s nothing wrong in being target-driv...

JPMorgan, the Wall Street bank, has set its sights on India as one of the top three fastest-growing markets in the Asia Pacific region for the year 2024. According to Filippo Gori, JPMorgan's CEO for Asia Pacific, India is poised to benefit significantly from the "China plus one" strategy, wherein businesses are diversifying their supply chains beyond China. He stated that India's vast scale makes...

Godrej Properties in its newly launched housing project has sold 670 apartments worth over Rs 2,000 crore. The housing project is located in Sector 146, Noida. As per Godrej Properties, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value. The company won the land through e-auction conducted by the Noida Authority in November last year and star...

Amazon is facing a significant legal battle as the Federal Trade Commission and 17 U.S. states jointly filed a lawsuit against the e-commerce giant, alleging anti-competitive practices that inflate online prices and overcharge sellers. This lawsuit, which was filed in a federal court in Amazon's home state of Washington, marks one of the most substantial challenges the company has faced in its nea...

Both Gold and Silver prices went down on the Multi Commodity Index on Wednesday. The average price of 1 gram of 22K Gold stood at ₹5,450 while the 24K gold prices stood at ₹5,945. The rate of 10 grams of 24K gold in Chennai stood at ₹59,780, which was followed by Delhi and Lucknow where the gold costs ₹59,600. The average price of 10gm of Silver was at ₹742 and 1 kg of silver stood at ₹74,200. How...

Amazon Great Indian Festival 2023 Sale: Amazon is preparing for its Great Indian Festival sale, following in Flipkart's footsteps with the Big Billion Days Sales 2023. Amazon, like its rival, has not disclosed the dates for its Great Festival Sale 2023 but is teasing discounts on various products like electronics, fashion, home goods, mobiles, and smart TVs. Amazon Great Indian Festival 2023 Sale:...

Citigroup CEO Jane Fraser has delivered a firm message to the bank's 240,000 employees, urging them to wholeheartedly embrace the sweeping changes she unveiled on September 13 or "get off the train," as reported by the Financial Times. The call to action follows Fraser's strategic restructuring plans aimed at aligning Citigroup's management with its vision and streamlining operations. Fraser, know...

Byju's, the renowned edtech giant, is undergoing a significant restructuring process under its newly appointed CEO, Arjun Mohan, which could result in the reduction of 4,000 to 5,000 jobs, Moneycontrol reported through sources. This restructuring primarily affects employees based in India at Think and Learn Pvt Ltd, the entity responsible for operating Byju's, with Aakash remaining unaffected, acc...

If you haven't yet added a nominee to your demat account, then you're in luck. Capital markets regulator SEBI has extended the deadline for existing demat account holders to add a nominee to December 31st from September 30th earlier. Now, demat account holders have until December end to make their choice of nomination or formally opt out of nomination using a declaration form. Furthermore, SEBI ha...

Billionaire Mukesh Ambani's three children, who are set to become directors of Reliance Industries Ltd, will be compensated solely through fees for attending board and committee meetings, as stated in a resolution requesting shareholder approval for their appointment to the board. While Mukesh Ambani himself has not drawn a salary from the company since the 2020-21 fiscal year, other executive dir...

World Tourism Day 2023: On its 24th Foundation Day coinciding with World Tourism Day on September 27, the Indian Railway Catering and Tourism Corporation (IRCTC) is introducing special offers for air travelers. IRCTC now provides seamless access to multi-modal transport ticket booking, encompassing rail, road, and air travel. Customers can book both international and domestic flight tickets at com...

The Directorate General of GST Intelligence (DGGI) has taken action against several online real money gaming (RMG) companies, issuing a series of pre-show cause notices that collectively amount to a staggering ₹55,000 crore in alleged goods and services tax (GST) evasion. Among the companies targeted, Dream11, a prominent fantasy sports platform led by Harsh Jain, stands at the forefront with a GS...

Dr. Manmohan Singh, who celebrates his 90th birthday today, was India's 13th Prime Minister. Before he became PM, he served as India's finance minister from 1991 to 1996.Here are five crucial reforms by the former PM & former FM of India. Economic Reforms and Liberalization (1991): Dr. Manmohan Singh, as the Finance Minister of India under Prime Minister P.V. Narasimha Rao, played a pivotal role i...

Prime Minister Narendra Modi is set to distribute approximately 51,000 appointment letters to freshly recruited individuals via video conferencing today, on September 26th. These appointments span across central government departments, state governments, and Union Territories, representing a substantial boost to employment opportunities in the country. The recruited workforce will be dispersed amo...