Finance

Rupee Falls Below 84 Mark as FPIs Exit, Oil Prices Rise

By Editor - News Desk October 12, 2024

On Friday, the Indian rupee breached the 84-mark, closing at 84.06 against the US dollar due to sustained foreign portfolio investor (FPI) outflows and rising crude oil prices. The domestic currency hit an intra-day low of 84.07 before settling at this new record low. RBI’s Intervention Amid Rupee Weakness The Reserve Bank of India (RBI) […]

Business

Noel Tata Elected as Tata Trusts Chairman After Ratan Tata’s Passing

By BPN News Desk October 11, 2024

Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the new chairman of Tata Trusts, according to a report by CNBC-TV18 on Friday. This significant appointment comes after the passing of the legendary industrialist Ratan Tata on October 9, 2024, at the age of 86. Noel Tata has been closely involved […]

Business Industry

JSW Green Mobility to Invest Rs 27,200 Crore in AURIC City Plant

By BPN News Desk October 11, 2024

Aurangabad Industrial City (AURIC) has allotted 636 acres of land to JSW Green Mobility, marking a significant step towards boosting the state’s industrial ecosystem. The plant, set to be established in the Bidkin node, is expected to go into production within the next 12 to 18 months, according to an official statement by Maharashtra Industrial […]

Business Industry

JSW Infra Secures ₹4,259 Cr Murbe Port Project in Maharashtra

By BPN News Desk October 10, 2024

JSW Infrastructure Limited (JSW Infra), a leading private port operator in India, has been awarded the contract to develop, operate, manage, and maintain a new all-weather multipurpose port in Murbe village, Palghar district, Maharashtra. The Maharashtra Maritime Board (MMB) issued a Letter of Intent (LoI) to the company, according to a filing made by JSW […]

Business Industry

India to Pass New Law for Offshore Oil Exploration Boost

By BPN News Desk October 10, 2024

India is set to pass a new law in the upcoming parliament session aimed at encouraging investments in offshore oil exploration, Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Tuesday. The proposed law will replace the existing Oilfields (Regulation and Development) Act of 1948, modernizing the legal framework for the country’s oil […]

Business Economy National

RBI Keeps Repo Rate Steady at 6.5%, Shifts Policy Stance to ‘Neutral’

By BPN News Desk October 9, 2024

RBI maintains status quo on repo rate; MPC revises policy stance to ‘neutral’ as inflation and growth projections remain steady. In its latest monetary policy meeting held from October 7 to 9, 2024, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5% for the tenth […]

Business Industry

Govt Allocates ₹1,000 Crore Venture Fund for Space Startups

By BPN News Desk October 7, 2024

The Indian government has earmarked ₹1,000 crore as a venture fund to support the growth of space startups, signaling a significant investment in the country’s rapidly expanding space sector. This was announced by Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh, who highlighted that the decision was made within the […]

Business Markets

Hyundai India Aims for Record $19 Billion Valuation in IPO

By Editor - News Desk October 4, 2024

Hyundai Motor India Ltd. is poised to make history with its upcoming initial public offering (IPO), which is expected to be the largest-ever listing in India. According to a recent report by Bloomberg, the South Korean automaker is seeking a valuation of approximately $19 billion for its Indian subsidiary’s public offering. Hyundai India Targets Record […]

Business Finance

Supreme Court Validates 90,000 Income Tax Notices, Settles Major Dispute

By BPN News Desk October 4, 2024

In a significant judgment, the Supreme Court has validated approximately 90,000 income tax reassessment notices, ending a prolonged legal dispute over the applicability of amendments to the Income Tax Act. The ruling, delivered on Thursday, clarified that the amended provisions introduced by the Taxation and Other Laws (Relaxation & Amendment of Certain Provisions) Act

Business Industry

Safran Group to Establish First Overseas Defence Electronics Unit in India

By BPN News Desk October 3, 2024

In a significant move reflecting the deepening strategic relationship between India and France, French defence giant Safran Group has indicated its intent to establish its first Defence Electronics unit outside France in India. This development was discussed during a two-day strategic dialogue between India’s National Security Advisor (NSA) Ajit Doval and top French