Flipkart has received a lending licence from the Reserve Bank of India, paving the way for direct financing to customers, though the ecommerce firm is yet to disclose operational details.The Walmart-backed company confirmed on Thursday that it had secured a Non-Banking Financial Company (NBFC) licence from the RBI, with sources indicating the approval came in…
ECB President Christine Lagarde (AP) The European Central Bank lowered its key interest rate by 25 basis points on Thursday, citing growing uncertainty from US trade threats and slowing eurozone momentum.In its eighth consecutive rate cut, the ECB reduced its benchmark rate to 2%, down from a recent high of 4%, as policymakers attempt to…
The six-member MPC’s decision will be announced on Friday. RBI MPC meet date, time: The Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) governor Sanjay Malhotra, is meeting this week to evaluate the repo rate, liquidity conditions, CPI inflation and GDP growth prospects for the Indian economy.The bi-monthly policy review began on…
AI image means for representation only Silver prices surged past $35 per an ounce on Thursday, buoyed by currency weakness, industrial appetite and safe-haven flows, with analysts suggesting the rally may not be over yet.Silver prices crossed the $35 mark per ounce and hit their highest level since March 2012, lifted by a mix of…
With demand softening and input costs rising, the consumer goods giant looks to streamline operations and exit select markets in the coming years. Procter & Gamble plans to lay off as many as 7,000 employees — about 6% of its global workforce — over the next two years as part of a sweeping cost-cutting drive…
Supported by easing oil prices and firm domestic equities, the rupee reversed a two-day losing run to settle marginally higher even as traders stayed cautious ahead of the RBI’s rate decision.The rupee closed 7 paise stronger at 85.80 against the US dollar on Thursday, snapping a two-session slide as positive cues from Asian currencies and…
As domestic money cushions corrections, veteran sees index doubling twice; points to compounding, macro strength and rising retail depth.The Indian equity market’s surprising ability to recover from every correction is no accident, says veteran investor Raamdeo Agrawal, who attributes the trend to the sustained flow of domestic capital. This resilience, he believes, will underpin a…
NEW DELHI: Shares of Eternal Ltd, the parent company of food delivery platform Zomato, surged nearly 6% on Thursday, extending its two-day rally to over 8%. The upward momentum followed Morgan Stanley reaffirming the company as its top sector pick. The brokerage firm kept its target price at Rs 320, suggesting a possible 33% upside…
NEW DELHI: Adani Group announced on Thursday that it paid nearly Rs 75,000 crore in taxes in FY2024-25, marking a 29% increase from the previous year. The Adani Group said its listed companies contributed Rs 74,945 crore to the exchequer in FY2024-25, up 29% from Rs 58,104 crore in the previous year. This total includes…
NEW DELHI: Eid al-Adha, also known as Bakrid or Eid ul-Zuha, is expected to be celebrated in India on Friday, June 7, depending on the sighting of the crescent moon.The day is likely to be observed as a public holiday across most parts of the country. Schools, colleges, banks, and government offices are expected to…
