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

Business Industry

Oil Prices Surge 3% Amid Escalating Israel-Iran Conflict

By Editor - News Desk October 2, 2024

Oil prices climbed more than 3% on Wednesday as tensions between Israel and Iran escalated, following Iran’s largest-ever direct attack on Israel, firing over 180 ballistic missiles. Both Israel and the United States have vowed retaliation, sparking concerns over potential disruptions in the global oil supply. Conflict Sparks Oil Price Surge Brent crude futures surged […]

Business Finance

GST Growth Slows to 6.5% in September Amid Concerns Over Tax Buoyancy

By BPN News Desk October 2, 2024

The growth in monthly Goods and Services Tax (GST) collections further weakened in September, with gross collections rising by just 6.5% compared to a 10% increase in August. The total GST revenue for September stood at Rs 1.73 lakh crore, up from Rs 1.62 lakh crore in the same month last year. This slowdown comes […]

Business Industry

Mobile Retailers Demand Ban on Chinese-Owned Mobile Brands

By BPN News Desk October 1, 2024

Indian mobile retailers have called on the Central government to ban Chinese-owned mobile brands such as iQoo, Poco, and OnePlus, citing their alleged anti-competitive practices that harm local businesses and impact the national economy. The All India Mobile Retailers Association (AIMRA), representing over 1.5 million mobile retailers across the country, has formally

Business Finance

Manba Finance Shares to List Today with Expected 35% Listing Gains

By BPN News Desk September 30, 2024

Shares of Manba Finance are scheduled to make their debut on Dalal Street today. Despite anticipation for a strong listing, investors are advised to moderate their expectations due to a significant drop in the grey market premium (GMP) ahead of the stock’s market entry. The recent rise in broader market volatility has affected Manba Finance’s […]

Business Industry

Tata Motors Breaks Ground on ₹9,000 Cr Manufacturing Plant in TN

By BPN News Desk September 28, 2024

In a major boost to the “Make in India” initiative, Tata Motors Group has initiated the construction of a new state-of-the-art production facility in Panapakkam, Ranipet district, Tamil Nadu. This world-class plant will manufacture next-generation cars, SUVs, and electric vehicles (EVs) for both the domestic and international markets, catering to Tata Motors