Business

25

Feb

By The Press Editor

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Business

ED seizes Anil Ambani’s lavish Mumbai ‘Abode’ in Rs 3,716 crore PMLA crackdown

Mumbai: The Enforcement Directorate (ED) has slapped a provisional attachment order on Reliance Group chairman Anil Ambani's opulent Mumbai residence, 'Abode', valued at a staggering Rs 3,716.83 crore, under the Prevention of Money Laundering Act (PMLA). Located in the upscale Pali Hill area, this 66-meter-high, 17-storey luxury tower now joins a growing list of seized assets in a probe tied to alleged bank fraud at Ambani's group firm, Reliance Communications (RCOM). Official sources confirmed the Wednesday (February 25) move, pushing the total attachments in this case to around Rs 15,700 crore. A symbol of wealth under scrutiny 'Abode' stands as…

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25

Feb

By The Press Editor

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Business

What is the difference between callable and non-callable FDs? Know which offers higher interest benefits

New Delhi: Fixed deposits, also known as FDs, have long been the preferred choice for investors looking to grow their savings in a safe and reliable manner. The introduction of callable and non-callable FD options from banks and other financial institutions is providing investors with more strategic investment opportunities based on their needs and goals. However, before investing, it's important to understand which of these two is the best choice. What is callable bank FD? Callable fixed deposits, also known as regular FDs, allow investors to withdraw part or all of the amount before the maturity date. However, banks and Non-Banking…

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25

Feb

By The Press Editor

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Business

Goripalayam flyover in Madurai: Detailed route, cost, features and design of the 2.1 km, four-lane flyover

Madurai: The Netaji Subash Chandra Bose flyover, popularly called the Goripalayam flyover, was inaugurated by Tamil Nadu Chief Minister MK Stalin last week in Madurai, with an aim to reduce traffic congestion in parts of the city.  The 1.3 km flyover, inaugurated on February 21 (Saturday), has been built at a cost of Rs 213.80 crore and it aims to ease the traffic in the city, particularly in areas like Sellur, Tallakulam, Tamukkam, Nelpettai and Anna Nagar. It connects the Anna Salai and Nelpettai with the Tamukkam Junction. How it will reduce travel time? The Goripalayam flyover, whose official name…

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24

Feb

By The Press Editor

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Business

Delhi-Meerut Namo Bharat RRTS ridership surpasses one lakh on first day after launch

New Delhi: Passengers thronged the trains of the Namo Bharat Regional Rapid Transit System (RRTS) on Monday, marking a historic first full day of operations. The National Capital Region Transport Corporation (NCRTC) reported that ridership on the Delhi-Meerut corridor crossed the one lakh mark, setting a new record. The milestone comes a day after Prime Minister Narendra Modi officially inaugurated the complete 82-kilometre Delhi-Meerut stretch, along with the newly opened Meerut Metro link. Videos from stations, particularly Begumpul in Meerut, captured the excitement of commuters eager to experience the new service. Families and young passengers took selfies and photos inside…

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23

Feb

By The Press Editor

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Business

Gurugram surpasses Mumbai in luxury home sales, records over Rs 24,000 crore transactions in 2025

New Delhi: Sales of luxury homes priced at Rs 10 crore and above witnessed a sharp 80 per cent rise in Gurugram last year, touching Rs 24,120 crore on the back of increased demand and rising property prices, according to a new report. The findings were released on Monday by real estate consultant India Sotheby's International Realty and data analytics firm CRE Matrix, which jointly analysed Gurugram's primary luxury housing market. Their report highlights that the IT-driven city in Delhi-NCR has surpassed Mumbai in total sales value of homes priced Rs 10 crore and above. In comparison, Mumbai recorded luxury…

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22

Feb

By The Press Editor

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Business

Air India cancels all New York-Newark flights amid monster East Coast blizzard warning

New Delhi: Air India has cancelled all flights to and from New York and Newark on February 23 (Monday), prioritising traveller and crew safety amid forecasts of a massive winter storm battering the US East Coast. The decision comes as heavy snow- up to 1-2 feet (30-61 cm)- looms over key hubs, threatening operations from Sunday into Monday. Affected passengers will receive full support, including rebooking options and refunds, as the airline scrambles to mitigate chaos. Blizzard alert: Historic Nor'easter looms The National Weather Service issued blizzard warnings stretching from Maryland to Massachusetts, engulfing New York City, Long Island, Boston,…

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22

Feb

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Business

PAN Card: What’s hidden in your 10-digit Permanent Account Number

New Delhi: The PAN card has become a mandatory document for almost every financial transaction in India. Issued by the Income Tax Department of the Government of India, the Permanent Account Number (PAN) serves as a unique personal identification for individuals and entities. It is a 10-digit alphanumeric code used to track tax-related information and financial activities. A PAN card is required for filing income tax returns, opening bank accounts, making investments, purchasing high-value assets, and carrying out several other financial transactions. While most people use the PAN regularly, few are aware that the 10-digit number printed on the card…

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21

Feb

By The Press Editor

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Business

India’s first reaction after US Supreme Court strikes down Trump’s tariffs: ‘Studying developments’

New Delhi: In its first reaction to the US Supreme Court's ruling that President Donald Trump's tariffs are illegal, India said that it is studying the developments for their implications. In a statement, the Commerce Ministry said, “We have noted the US Supreme Court judgement on tariffs yesterday. President Trump has also addressed a press conference in that regard. Some steps have been announced by the US Administration. We are studying all these developments for their implications.” Here's what US Supreme Court said on Trump tariffs  In a major setback to Trump's pivotal economic agenda for his second term, the…

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20

Feb

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Business

5 major credit card rule changes from April 1: Here’s all you need to know

New Delhi: If you use a credit card for everyday expenses, online shopping or tax payments, several rules may change for you starting April 1, 2026. The Income Tax Department has proposed five major changes related to credit cards in the draft Income Tax Rules 2026. If approved, these rules could replace the 1962 provisions. Therefore, it's important to understand how these changes will impact your finances and tax planning. 1. Strict reporting on large credit card bills According to the new draft, if the total amount of payments made on one or more of your credit cards in a…

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20

Feb

By The Press Editor

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Business

AI can accelerate global growth by 0.8%, India’s Viksit Bharat goal achievable: IMF MD

New Delhi: IMF Managing Director Kristalina Georgieva on Wednesday said artificial intelligence can lift global growth by 0.8 per cent, and India's goal of becoming a Viksit Bharat or a developed nation is achievable. Speaking at a panel discussion at the AI Impact Summit here, Georgieva said a research by the International Monetary Fund (IMF) suggests that AI has the potential to significantly accelerate global growth. "We did some research and here is the answer. Based on what we know, AI can lift up global growth by almost a percentage point. We say 0.8 per cent... It would mean that…

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