Business

[ad_1] Bengaluru: Electric two-wheeler maker Ather Energy trimmed its IPO size in the final stretch before listing, signalling a calibrated approach to capital raising amid muted market sentiment for new-age hardware startups.In its red herring prospectus (RHP) filed with market regulator Sebi on Tuesday, [ad_2] Source link

[ad_1] NEW DELHI: Govt has extended the term of RBI deputy governor T Rabi Sankar for another one year till May 2026. This is the second one-year extension granted to him. Appointments Committee of Cabinet has approved the re-appointment of Sankar from May 3, 2025, or until further orders. agencies [ad_2] Source link

[ad_1] NEW DELHI: Puttting an end to his 'big plans' in the telecom business, Adani Group chairman Gautam Adani decided to move out of the competitive and capital-heavy sector. And, he has decided to sell the airwaves, acquired in 2022 auctions, to Bharti Airtel.Adani Data Networks acquired 400 MHz spectrum in 26GHz band for about Rs 212 crore, which will now be taken over by Airtel. Adani Group, which initially said that airwaves will be used for captive use, was running the risk of penalties by DoT for its non-compliance with minimum rollout obligations mandated for companies buying spectrum."Bharti Airtel and its subsidiary Bharti Hexacom, have entered into definitive agreements with Adani Data Networks, a subsidiary of Adani Enterprises, to acquire rights to use 400MHz of spectrum in the 26GHz band in Gujarat (100MHz), Mumbai (100MHz), Andhra Pradesh (50MHz), Rajasthan […]

[ad_1] MUMBAI: Rallying for the fourth consecutive session, gold futures contracts expiring in August, October, and December on the Multi Commodity Exchange (MCX) topped the Rs 1 lakh/10gram mark on Tuesday. In spot markets around the country, the precious metal was trading just under that mark.The upsurge in the yellow metal's rate came after its price in international markets crossed the psychologically important $3,500/ounce mark early in the day. The rally was fuelled by a combination of factors, including growing fears about a showdown between US President Donald Trump and US Federal Reserve chairman Jerome Powell, global trade uncertainties, a weakening dollar, and central banks' purchase of gold."The rally in gold prices continues to be fuelled by the US Federal Reserve's reluctance to cut interest rates immediately, despite growing pressure from Trump, who has been vocal about rate cuts," said […]

[ad_1] MUMBAI: Financial and corporate governance lapses at Gensol Engineering and its affiliate BluSmart have nudged investors to tighten the terms of investment contractsand incorporate additional clauses to protect their investments, lawyers told TOI. A series of frauds and governance mishaps at startups over recent years already made investors legally prudent, but now they are seeking more.For instance, they want founders and promoters to disclose their sources of income, said Maulin Salvi, leader, corporate governance practice at Nishith Desai Associates.They are also expanding the definition of bad leaver events (circumstances in which a founder or key employee exits the company under unfavourable conditions) and making the due diligence process more rigorous. Earlier, only criminal complaints against founders were considered a bad leaver event, allowing investors to remove them from their positions. Now, its ambit is being broadened to include breaches […]

[ad_1] India’s long term growth over the next two decades will rely on a new approach, rooted in bold reforms, better domestic capabilities, and strategic institutional partnerships designed for the growing global landscape, finance minister Nirmala Sitharaman has said at Stanford University California.FM Sitharaman highlighted the various projects undertaken by the Indian government in the last couple of years which has helped in the creation of a strong foundation for a manufacturing-oriented growth in the nation. She also spoke about the strength of the US in the field of start-ups.This has been enabled by a more than four-fold increase in the union government's capital expenditure between 2017-18 and the 2025-26 Budget, she said in reference to India's growing economy."Our experience with implementing the Business Reform Action Plan by different state governments has demonstrated that deregulation is a powerful catalyst for […]

[ad_1] NEW DELHI: The government has extended the term of RBI Deputy GovernorT Rabi Sankar for another one year till May 2026, according to sources. This is the second one-year extension granted to him. The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Rao for a period of one year with effect from May 3, 2025, or until further orders, sources said quoting a government order dated April 21. The ACC is headed by Prime Minister Narendra Modi. He was appointed as RBI Deputy Governor in May 2021 for an initial period of three years. In his previous role as Executive Director, Sankar was looking after the Department of Payment and Settlement Systems, the Department of Information Technology, Fintech and the Risk Monitoring Department in RBI. Sankar has also in the past served as an IMF Consultant […]

[ad_1] The Smart Cities Mission is heading towards its 10th year anniversary, making major progress with the completion of more than 90% projects under the urban development initiative launched by PM Narendra Modi on June 25, 2015. Out of over 8,000 multi-sectoral projects worth Rs 1.64 lakh crore planned across 100 cities, 7,504 projects totalling Rs 1.50 lakh crore have already been completed, reflecting a major leap in India’s transformative efforts, a report by SBI revealed.The findings also showed that almost 92% of the funds were utilised across 21 key states. Uttar Pradesh, Tamil Nadu, and Maharashtra topped the list, together accounting for nearly a third of the total expenditure.The mission majorly focused on enhancing urban mobility and strengthening water and sanitation infrastructure. Nearly half of the total project cost has been channelled into these two sectors, with over 3,000 […]

[ad_1] MUMBAI: Non-bank lender Mahindra Finance on Tuesday reported a 9 per cent decline in standalone profit to Rs 563 crore in the March quarter. The Mahindra Group's financial services arm had posted a net profit of Rs 619 crore in the year-ago period. Its core net interest income grew 9 per cent to Rs 2,156 crore, on a 17 per cent growth in the loan book, but restricted by a narrowing in the interest margin to 6.5 per cent from the 7.1 per cent in the year-ago period. The overall disbursements were up by 2 per cent during the reporting quarter. Provisions or credit costs surged 34 per cent to Rs 457 crore as against Rs 341 crore in the year-ago period, proving to be a dampener on bottom line. On the asset quality front, the GS2+GS3 ratio was […]

[ad_1] US President Donald Trump fired a fresh salvo against Federal Reserve chairman Jerome Powell, escalating attacks for resisting further interest rate cuts. The clash is rattling financial markets, raising a critical question: Can Trump actually fire Powell?The answer is murky—and the implications could be huge.Under the Federal Reserve Act of 1913, members of the Fed's Board of Governors are appointed to 14-year terms and can only be removed "for cause," widely interpreted to mean serious misconduct—not policy disagreements. However, the law is less clear when it comes to the Fed chair’s four-year leadership term, which lacks explicit removal restrictions.According to Reuters, no US president has ever tried to oust a Fed chair, making any such move legally uncharted territory. Several unrelated legal cases involving Trump’s past efforts to remove leaders of independent agencies are now making their way through […]