Business

31 Aug

Bank credit growth upgrade to 15.1% by July, deposits lag: RBI

Priyanka RoyBusiness, News

According to the RBI, growth in credit card outstanding slowed to 22 percent to Rs 2.75 lakh crore from 32.4 percent a year ago.Non-food bank credit is projected to grow 15.1 percent by July 2024 to Rs 162.92 lakh crore by July 2024, compared to 14.7 percent a year ago, according to the latest RBI data.However, RBI data showed that banks' deposit growth slowed by 11.3 percent to Rs 213.28 lakh crore. With deposit growth slowing, banks are racing to raise funds through special deposit schemes and other innovative schemes to meet the credit demand in the system. Many banks…

30 Aug

Bandhan Bank boosts Tripura flood relief with major contribution

Business BureauBusiness

Bandhan Bank has made a substantial donation to the Chief Minister’s relief fund, reinforcing its commitment to supporting flood-stricken Tripura. The contribution, announced at a ceremony with Dr. Manik Saha, Hon'ble Chief Minister of Tripura, and senior bank officials, is set to play a pivotal role in the state’s ongoing recovery efforts. The severe flooding has left a trail of destruction across Tripura, impacting thousands of residents and disrupting local markets. In response, Bandhan Bank's donation aims to expedite relief operations and provide much-needed aid to affected communities. In Agartala, the floods have significantly impacted local commerce, with many businesses…

30 Aug

ICICI Prudential Life Insurance’s AUM surpasses Rs 3 lakh crore mark

Business BureauBusiness

ICICI Prudential Life Insurance Co. Ltd. has crossed the ₹3 lakh crore mark in Assets Under Management (AUM), reaching an impressive ₹3.14 lakh crore as of July 31, 2024. This achievement is more than just a number—it's a reflection of the deep trust and faith that countless individuals have placed in the company to safeguard their financial futures. Anup Bagchi, Managing Director and CEO of ICICI Prudential Life Insurance, shared his thoughts on this momentous occasion: "This milestone is a celebration of our customers' belief in us. We are dedicated to making life insurance simpler and more accessible, ensuring that…

29 Aug

Bikaji said it is ‘not for sale’ amid investor interest in Indian snacks market

Priyanka RoyBusiness, News

Indian snacks maker Bikaji Foods is "not for sale" and is instead aiming to capitalize on the growing appetite for gourmet brands in the world's most populous country, a top executive told Reuters.The Indian salty snacks sector has grown rapidly in recent years as consumers increasingly splurge on packaged foods.“Bikaji is not for sale. No matter what price anyone offers, there are few things that are not for sale,” Chief Operating Officer Manoj Verma had said that earlier this month, without disclosing whether the company had received buyout offers.His comments came after India's Tata Group and a consortium including Blackstone…

29 Aug

Vi boosts connectivity for flood-hit Tripura with extended prepaid validity and extra data

Business BureauBusiness

In a bid to support flood-affected residents in Tripura, telecom giant Vi has announced an extension of prepaid validity and additional benefits. The company is extending the validity of prepaid services by 5 days for select customers in the impacted areas, ensuring that they stay connected during this critical period. Vi is also offering 1GB of extra data and free outgoing minutes at no additional charge, effective immediately. These measures are aimed at alleviating communication challenges and providing essential connectivity amidst the ongoing crisis. Vi's network teams are working round-the-clock with local authorities to restore normalcy and support the affected…

28 Aug

Zee Entertainment shares arised 14% today; here’s why

Priyanka RoyBusiness, News

ZEEL Share Price: The stock traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving average (SMA), but lower than the 150-day and 200-day SMA.Shares of Zee Entertainment Enterprises Ltd (ZEEL) rose 14.26 per cent to hit the day's high of Rs 154.65 in Tuesday's trade. Today's sharp rise in share price came after the media firm settled its merger closing disputes with Sony Pictures."ZEEL, Culver Max Entertainment Pvt. Ltd., steering as Sony Pictures Networks India, together with its group company Bangla Entertainment Pvt. Ltd. have reached a comprehensive non-cash agreement, relating to “All disputes have been…

27 Aug

Bank of Baroda surge Rs 5,000 crore through 10-year infra bonds at 7.3%

Priyanka RoyBusiness, News

State-owned Bank of Baroda on Monday inflation Rs 5,000 crore through 10-year infrastructure bonds at a coupon rate of 7.3 percent, according to sources aware of the development.The offering of the bonds, rated AAA by Crisil Ratings, had a base issue size of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore and was fully subscribed.A dealer at a state-owned bank said yields on 10-year government securities have fallen, resulting in lower cut-off rates for BoB compared to State Bank of India (SBI), the country's largest lender. Generally, SBI is considered like a barometer for the Indian economy…

26 Aug

Gold price relapse in India: Check 22 carat price in your city on August 25

Priyanka RoyBusiness, News

Gold price in India today: On August 25, gold prices in India were around Rs 73,000 per 10 grams. The rate of 24 carat gold of highest purity was Rs 73,040 per 10 grams. For those considering jewellery, 22-carat gold, known for extra durability due to its light alloy mix, was priced at Rs 66,950 per 10 gram.In contrast, the price of silver was Rs 88,000 per kg. retail cost of gold in india The retail price of gold in India, which represents the final cost per unit weight to consumers, is shaped by many factors beyond its intrinsic value.

24 Aug

TKM reaffirms its steadfast commitment to advancing gender equality and empowering women within its workforce and beyond

Business BureauBusiness

In recognition of Women's Equality Day on August 26th, Toyota Kirloskar Motor (TKM) reaffirms its steadfast commitment to advancing gender equality and empowering women within its workforce and beyond. Aligning with the United Nations Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth), TKM has initiated a series of transformative measures aimed at fostering an inclusive and diverse workplace. As part of its long-term vision, TKM has set a target to increase the representation of women in its workforce to 30% by 2030. To achieve this, TKM has implemented a series of…

24 Aug

GNRC Hospitals, Sixmile is breaking new ground in spine surgery by offering day care procedures

Business BureauBusiness

GNRC Hospitals, Sixmile is breaking new ground in spine surgery by offering day care procedures that allow patients to walk home the very same day. This innovative approach to spine surgery is relatively unexplored in India, with only a few centres performing such surgeries in a day care setup. However, GNRC Hospital is leading the way, regularly performing these minimally invasive spine surgeries, which allow patients to return home without spending a night in the hospital. In a statement welcoming the press and citing the achievement, Dr Ram Kumar Goyal, Senior Neurosurgeon from GNRC Sixmile said, “In India, the mere…