Business

India’s push to build its own semiconductor ecosystem got a boost after Union Minister for Electronics and Information Technology Ashwini Vaishnaw praised the progress in chip manufacturing, calling it an important step towards becoming a “product nation”.Taking to X on Monday, Vaishnaw cited a media report while highlighting the importance of homegrown chipsets in India’s…

State-owned Bank of Maharashtra (BoM) has joined hands with SBI Card to roll out a new co-branded credit card, promising premium and highly-rewarding shopping experience for discerning customers across segments. According to a joint statement made on Monday, the Bank of Maharashtra-SBI Card has been introduced in three variants: Bank of Maharashtra SBI Card ELITE,…

MUMBAI: IndiGo and IDFC FIRST Bank have launched a co-branded credit card that will be available on both Mastercard and RuPay networks, offering customers wider acceptance and flexibility, including the ability to make UPI payments through RuPay.The IndiGo IDFC FIRST Credit Card is aimed at frequent travelers and comes with accelerated rewards on IndiGo bookings…

Wall Street began the week on a cautious note on Monday, with investors holding back as they waited for a busy line-up of corporate earnings and a key speech from the Federal Reserve chief later this week.US stocks began the day trading near their record highs but slowly drifted in red.The Dow Jones Industrial Average…

The newly launched FASTag Annual Pass has seen a remarkable response, crossing the landmark figure of five lakh users across the country within just four days, an official statement said on Monday.Introduced on Independence Day, the pass allows non-commercial vehicle users to make a one-time payment of Rs 3,000 for one year’s validity or 200…

India’s consumption story could soon receive a major boost, with a mix of tax reforms and economic measures paving the way for stronger domestic demand, according to a new Morgan Stanley report.The report, dated August 17, said an overhaul in GST rate slabs, along with support from personal income tax cuts, monetary policy easing, signs…

India’s unemployment rate eased to 5.2% in July, from 5.6% in June, according to the government’s latest labour force survey, released on Monday.The Periodic Labour Force Survey (PLFS), conducted by the Ministry of Statistics and Programme Implementation (MoSPI), showed that the unemployment rate in May had also stood at 5.6%.Data collected under the current weekly…

The fiscal cost of the government’s proposed Goods and Services Tax (GST) rate rationalisation will remain manageable, with an estimated revenue loss of Rs 1.1 trillion annually or 0.3% of the GDP, a UBS report said.For the financial year 2026, the firm expected the shortfall of Rs 430 billion, or 0.12% of GDP, that could…

As the Centre is proposing a two-slab structure pro-middle-class ‘Next Gen GST,’ many are concerned about its impact on the revenue. However, government sources clarified that the Centre and the states are equal partners in sharing the revenue and the proposal might boost revenue over time, fueled by increased consumption.Under the current Goods and Services…

Prime Minister Narendra Modi‘s Independence Day announcement regarding India’s GST restructuring by Diwali has significantly impacted Dalal Street, with over 40 stocks across various sectors identified as potential beneficiaries. As the stock markets marked the opening for the week on Monday, it witnessed substantial gains across automotive, financial, real estate, consumer and cement sectors as…