Business

[ad_1] Higher loans, credit cards coming street vendors' way NEW DELHI: With the contours of the revamped PM SVANidhi scheme having been finalised, street vendors will be getting higher subsidised loans, as well as credit cards with a limit of Rs 30,000, on account of banks coming on board. The credit cards will be issued by banks to street vendors who have repaid the earlier three tranches of subsidised loans, of Rs 10,000, Rs 20,000 and Rs 50,000.TOI has learnt that the revamped scheme will soon be placed before Cabinet for approval. Sources said the subsidised loans will now also be granted to street vendors from rural areas who migrate to cities to make a living. Though the housing and urban affairs ministry did not respond to queries, sources said an additional Rs 10,000 would be provided as part of […]

[ad_1] Donald Trump has sought to restructure America's international trade relationships. (AI image) The Donald Trump administration has lashed out at a US trade court ruling striking down the President’s reciprocal tariffs. The White House has said that the US trade policy will continue and the government is reviewing other avenues as well.‘Big Explosion’ In US House Over Trump’s UAE Deal; ‘President Is LYING Under Oath…’ | Rubio BoilsThe Trump administration sharply criticised a federal court's ruling on Thursday that blocked numerous broad-ranging tariffs, dealing a significant blow to the presidential trade agenda.Since his return to office in January, Donald Trump has sought to restructure America's international trade relationships, employing tariffs as a diplomatic tool to bring other governments into negotiations.However, the inconsistent implementation of these reciprocal tariffs, affecting both allies and adversaries alike, has created instability in markets and […]

[ad_1] The Coca-Cola Company is optimistic about expanding its portfolio of billion-dollar brands, with India playing a key role in this growth trajectory, said Henrique Braun, Executive Vice President and Chief Operating Officer, on Thursday.Speaking during his visit to Mumbai, Braun highlighted the significance of India in the company’s global growth strategy. He noted that Coca-Cola currently has three billion-dollar brands originating from India — ThumsUp, Maaza, and Sprite — which reflects the strength and vibrancy of the Indian beverages market, PTI reported.“We have today 30 billion-dollar brands (globally) of which 15 were built organically and 15 we acquired and built into billion-dollar brands over the years,” Braun said, expressing confidence that more Indian brands would join this elite club in the future.Industry sources indicate that Coca-Cola’s flagship cola drink in India may soon enter the billion-dollar revenue club as […]

[ad_1] The US economy contracted at a 0.2% annual pace from January through March, marking the first quarterly decline in three years, as President Donald Trump’s trade policies disrupted business activity. The Commerce Department released the revised estimate Thursday, slightly improving on its initial figure.The drop in gross domestic product (GDP) — the broadest measure of economic output — follows a 2.4% gain in the fourth quarter of 2024. The contraction was primarily driven by a sharp increase in imports as companies rushed to stockpile foreign goods ahead of Trump’s sweeping tariff hikes, AP reported.“First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes,” the report said.Imports surged at a 42.6% pace, the fastest since the third quarter of 2020, subtracting […]

[ad_1] The Reserve Bank of India’s (RBI) balance sheet expanded by 8.20 per cent year-on-year, reaching Rs 76.25 lakh crore as of March 31, 2025, according to the central bank’s Annual Report for 2024-25 released on Thursday. The increase contributed to a significant dividend payout of Rs 2.69 lakh crore to the central government.The report noted that the increase on the asset side was led by a 52.09 per cent rise in gold holdings, a 14.32 per cent jump in domestic investments, and a 1.70 per cent increase in foreign investments.Income for the year saw a notable rise of 22.77 per cent, while expenditure went up by 7.76 per cent."The year ended with an overall surplus of Rs 2,68,590.07 crore as against Rs 2,10,873.99 crore in the previous year, resulting in an increase of 27.37 per cent," the RBI stated.The […]

[ad_1] India's economy in PPP terms stands at $15 trillion, whilst the United States maintains $ 29 trillion. (AI image) The Indian economy’s size in Purchasing Power Parity (PPP) terms is $15 trillion which is more than half the size of the US economy, NITI Aayog Vice-Chairman Suman Bery has said. He explained that whilst India's GDP at market prices is $4 trillion, the PPP calculation reveals a $15 trillion economy.He added that India's economy in PPP terms stands at $15 trillion, whilst the United States maintains $ 29 trillion, indicating that India's economy is approximately half the American economy's magnitude.PPP represents the number of currency units needed to acquire a collection of goods and services that one unit of the reference economy's currency can purchase.Speaking at the Confederation of Indian Industry's (CII) Annual Business Summit 2025, Bery noted, "There […]

[ad_1] The Indian economy is expected to maintain a promising outlook in 2025-26, supported by several positive factors, according to the Reserve Bank of India’s (RBI) annual report for 2024-25, released on Friday.The report emphasized that economic growth momentum is likely to continue, driven by a revival in consumption demand, healthy balance sheets among banks and corporates, and easing financial conditions."The outlook for the Indian economy remains promising in 2025-26, supported by revival in consumption demand, government's continued thrust on capex while adhering to the path of fiscal consolidation." RBI said, as quoted ANI. The government’s sustained focus on capital expenditure, alongside fiscal discipline, remains a cornerstone of the growth story.Additional contributors to the positive outlook include the resilience of the services sector, growing consumer and business confidence, and solid macroeconomic fundamentals.Also Read: Currency printing cost rises 25% to Rs […]

[ad_1] Florida Governor Ron DeSantis signed a new law on Tuesday that officially recognises gold and silver coins as legal currency in the state and exempts them from sales tax.The move positions Florida as the largest state to take this step, with the law set to take effect on July 1, 2026, pending ratification by the state legislature.Addressing a press conference, DeSantis said, "We are the first large state to step up and to get this done." He further explained that the legislation would enable financial service providers, including PayPal and cheque-cashing establishments, to process transactions using precious metals. "This is right out of the Constitution of the United States. This legislation will authorise money services businesses to accept gold and silver coins that meet specific purity standards," he added.The governor highlighted Florida's position as the largest state to enact […]

[ad_1] By the end of December, Indian Railways will achieve 'Scope 1 net zero', successfully offsetting 2.2 million tonne CO2. In a big boost to Indian Railways' green plans, the national transporter is set to reach its net zero objectives in the current year, significantly earlier than its 2030 target, primarily due to comprehensive electrification efforts.By the end of December, Indian Railways will achieve 'Scope 1 net zero', successfully offsetting 2.2 million tonne CO2, which exceeds its emissions by 200,000 tonnes, according to Indian Railways officials.By 2030, the Indian Railways anticipates requiring approximately 10 gigawatt (GW) of electricity for train operations. The distribution plan includes 3 GW from renewable sources including hydropower, whilst another 3 GW will come from thermal and nuclear sources. The remaining 4 GW requirement shall be fulfilled through arrangements with power distribution companies.On Track for net […]

[ad_1] Government-owned banks demonstrated remarkable growth with a 26% increase in profits to Rs 1.83 lakh crore. (AI image) Big turnaround story! Public sector banks led India's banking sector to record-breaking profits in FY25, with industry earnings rising nearly 14-fold over a decade to Rs 3.71 lakh crore, driven by lending income, treasury gains and reduced provisions for non-performing assets.Government-owned banks demonstrated remarkable growth with a 26% increase in profits to Rs 1.83 lakh crore, closing in on private banks, which recorded a modest 7% growth to Rs 1.87 lakh crore, according to an ET analysis.State Bank of India emerged as the most profitable bank with net earnings of Rs 70,900 crore, with HDFC Bank following at Rs 67,347 crore, and ICICI Bank achieving Rs 47,227 crore in FY25. The overall private sector bank profits were affected by significant declines […]