Gaurav Bansal

[ad_1] Banks across the country will remain closed today, on May 24, in observance of the fourth Saturday of the month. According to the Reserve Bank of India’s (RBI) official calendar, banks remain shut on every second and fourth Saturday.Customers can verify whether banks are open or closed by checking the RBI’s official website.This holiday applies to all banks regulated by the RBI nationwide. Physical branch services such as cash deposits and withdrawals, account openings, cheque clearances, loan processing, approvals requiring manual intervention, and other documentation-related services will not be available today.However, digital banking services remain operational. Customers can continue to use mobile banking apps, ATMs, and electronic payment systems like NEFT, RTGS, and IMPS to pay bills, transfer money, and carry out other transactions without interruption.The RBI calendar also specifies regional bank holidays. Apart from weekends, upcoming holidays in […]

[ad_1] Foreign portfolio inventors, this week, reversed May’s overall net inflows, withdrawing Rs 4,84.32 crore between May 19 and May 23. The FPIs turned net sellers in Indian equities, as the total investment now stands at Rs 13, 835 crore, down from the Rs 18,620 crore registered over the previous week, the data from National Securities Depository Ltd reported, quoted by ANI.The data shows that foreign investors pulled out almost Rs 4,800 crore worth of investments just in five trading sessions.This withdrawal came despite a strong start to the week, with positive inflows reported on Monday and Tuesday. The bulk of this sharp sell-off came on Wednesday, May 21, when FPIs dumped over Rs 10,000 crore worth of shares in a single trading session. With this week's selling spree, foreign investors have now pulled out a net Rs 98,516 crore […]

[ad_1] The central government has approved an 8.25% interest rate on Employees' Provident Fund (EPF) deposits for the fiscal year 2024-25, benefiting over 7 crore salaried employees. This rate, unchanged from the previous year, follows a record income of Rs 1.07 lakh crore. EPFO also reported a significant increase in auto-claims settlements, reaching 2.16 crore as of March 6, 2025. The central government has approved an interest rate of 8.25 per cent on Employees' Provident Fund (EPF) deposits for the fiscal year 2024–25, an official confirmed to PTI on Saturday.This rate was recommended earlier this year by the Central Board of Trustees of the Employees' Provident Fund Organisation (EPFO). The decision is expected to benefit over 7 crore salaried employees across India.The approved rate remains unchanged from 2023–24, when EPFO credited 8.25 per cent based on an all-time high income […]

[ad_1] Multimodal transport services provider Blue Water Logistics announced on Saturday that it has fixed the price band for its upcoming initial public offering (IPO) at Rs 132–135 per share. The Rs 40.5-crore IPO will open for subscription on May 27 and close on May 29, the company said in a statement.The shares are set to be listed on the NSE Emerge platform. Investors can bid for a minimum of 1,000 equity shares and in multiples thereafter.The IPO comprises a fresh issue of up to 30 lakh equity shares. At the upper end of the price band, the company expects to raise approximately Rs 40.50 crore, PTI reported.Of the net proceeds, Blue Water Logistics plans to allocate Rs 10.51 crore towards capital expenditure and Rs 20 crore for meeting working capital requirements. The remaining funds will be used for general […]

[ad_1] State-owned power major NTPC on Saturday reported a 22 per cent rise in its consolidated net profit to Rs 7,897.14 crore for the March quarter of FY25, boosted by increased revenue from its generation business.The company had posted a profit of Rs 6,490.05 crore in the same quarter of the previous year, according to its exchange filing.NTPC's total income grew to Rs 51,085.05 crore in the March 2025 quarter, up from Rs 48,816.55 crore in Q4 FY24. Revenue from its core generation segment stood at Rs 49,352.99 crore, compared to Rs 47,088.70 crore a year earlier.For the full financial year FY25, NTPC’s net profit rose to Rs 23,953.15 crore from Rs 21,332.45 crore in FY24. Total income for the year increased to Rs 1,90,862.45 crore, up from Rs 1,81,165.86 crore in the previous fiscal.The company also saw an improvement […]

[ad_1] Asian currencies are expected to appreciate against the US dollar in the long term, driven by higher gross national savings in emerging Asian economies compared to developed G7 nations, according to a recent report by Jefferies.The report pointed out that the gross national savings in emerging Asian countries are significantly higher, providing these economies with a robust foundation for currency strength. “The most likely currency bloc to enjoy long-term appreciation against the US dollar remains Asian currencies in what amounts to a reversal of the dynamic triggered by the Asian Crisis nearly 30 years ago,” the report noted as quoted ANI.This shift, the report added, not only stems from changes in US trade policies under the Trump administration but also reflects the growing financial strength of many Asian countries.The Jefferies report further highlighted that the Trump administration’s focus on […]

[ad_1] India has officially surpassed Japan to become the fourth largest economy in the world, according to NITI Aayog CEO B V R Subrahmanyam. Speaking at a press briefing following the 10th Governing Council meeting of NITI Aayog on Saturday, Subrahmanyam highlighted the favourable geopolitical and economic conditions for India."We are the fourth largest economy as I speak. We are a $4 trillion economy as I speak," Subrahmanyam said, as quoted PTI.Subrahmanyam cited IMF data, which confirms that India’s economy is now larger than Japan’s. "It is only the US, China, and Germany which are larger than India, and if we stick to what is being planned and what is being thought through, in 2.5-3 years, we will be the third largest economy," he added.ALSO READ | Top 10 Largest Economies In The World 2025: India Set To Overtake Germany, […]

[ad_1] The Chinese government's subsidies aimed at boosting domestic consumption have led to a surge in the sales of digital products like smartphones, tablets, and smartwatches, generating about $20 billion in just four months, according to the Ministry of Commerce.As of Thursday, over 48 million consumers participated in the government’s digital product subsidy scheme, purchasing a total of 51.48 million products and driving approximately 143.3 billion yuan (around $19.9 billion) in sales, the ministry reported on Friday, as reported PTI.Between January and April, retail sales of communication appliances rose 25.4 per cent compared to the same period last year, marking the fastest growth among 16 major consumer goods categories, data from the ministry showed.In January, China introduced new measures to expand the scope of its consumer goods trade-in programme. The government increased the number of home appliance categories eligible for […]

[ad_1] Maharashtra has set an ambitious target of becoming a $5-trillion economy by 2047, with Chief Minister Devendra Fadnavis highlighting the state’s comprehensive strategy to achieve this goal. Addressing the NITI Aayog Governing Council meeting, Fadnavis said the state government is committed to implementing its vision for both development and the preservation of heritage, aligned with the central government's goal of a "Viksit Bharat" (developed India) by 2047."We are fully prepared to implement our vision for development, and preservation of heritage, which is aligned with the central government’s goal of Viksit Bharat by 2047," Fadnavis said.The state’s roadmap for achieving this goal is outlined in the 'Maharashtra 2047' vision, which is divided into three key stages. The first phase of this plan is to develop Maharashtra into a one-trillion-dollar economy by 2030. Fadnavis further shared that the government has already […]

[ad_1] JK Cement Ltd on Saturday announced a robust 64.5% increase in its consolidated net profit, reaching Rs 361.33 crore for the March quarter of FY25. In comparison, the company had reported a net profit of Rs 219.68 crore in the same quarter of the previous year, according to a regulatory filing.Revenue from operations for the company grew by 15.3%, totalling Rs 3,581.18 crore in Q4 FY25, compared to Rs 3,105.77 crore in the corresponding period a year ago, PTI reported.JK Cement’s total expenses for the March quarter stood at Rs 3,092.04 crore, marking a 9.8% increase year-on-year.The company’s total income, including other income, amounted to Rs 3,627.06 crore, reflecting a 15% annual growth.For the financial year ending March 31, 2025, JK Cement’s net profit rose 10.4% to Rs 872.17 crore, up from Rs 789.93 crore a year ago.In FY25, […]