Business

Keep abreast on today’s most important business news. Investigate trends, insights, and professional research to maintain your company’s lead in a cutthroat industry.

RBI’s new rules for loan recovery to be effective from January 1, here’s what has changed
07
Aug
By The Press Editor
Business

RBI’s new rules for loan recovery to be effective from January 1, here’s what has changed

New Delhi: The Reserve Bank of India (RBI) has issued new, stricter guidelines to curb the arbitrariness of loan recovery agents. The rules will be implemented nationwide from January 1, 2027 and will protect millions of borrowers across the country who take loans from banks and non-banking financial companies (NBFCs). Strict guidelines have been established to ensure transparency in the recovery process and prevent customer harassment. This development holds significance because there have been frequent complaints of misbehaviour and inappropriate calls from recovery agents. Furthermore, locked devices must be unlocked within one hour of loan repayment; otherwise, the bank will…
Read More
What is an FCNR deposit? Interest rates, tax treatment and other details you must know
07
Aug
By The Press Editor
Business

What is an FCNR deposit? Interest rates, tax treatment and other details you must know

New Delhi: For many Non-Resident Indians (NRIs), the attraction of the highest interest rates is a natural consideration when managing their earnings abroad. But the returns alone should not be the reason. According to experts, the currency you earn today and the currency you'll spend in the future can have a big impact on the value of your savings. The right deposit is often a matter of balancing returns against currency certainty. It is here that a Foreign Currency Non-Resident (FCNR) deposit can come in handy.  Unlike other deposit accounts, it allows NRIs/OCIs (Overseas Citizens of India) to save in…
Read More
Sensex tumbles 455 points to settle at 78,499.17, Nifty below 24,600, Bajaj twins among top losers
07
Aug
By The Press Editor
Business

Sensex tumbles 455 points to settle at 78,499.17, Nifty below 24,600, Bajaj twins among top losers

Mumbai: Benchmark indices Sensex and Nifty ended in the red as renewed uncertainty surrounding the Strait of Hormuz negotiations and broad-based weakness in financial stocks overshadowed an otherwise supportive earnings backdrop. The 30-share BSE Sensex closed 455.59 points or 0.58 per cent lower at 78,499.17. During the day, the benchmark hit a high of 78,757.40 and a low of 78,377.07, gyrating 380.33 points. The 50-share NSE Nifty ended flat with a drop of 65.35 points or 0.27 per cent at 24,570.65. However, the broader market ended the session in the green. While the BSE MidCap Select Index gained 35.97 points or…
Read More
SBI share price gains as PSU bank’s Q1 profit rises 13.7% to Rs 24,113 crore
07
Aug
By The Press Editor
Business

SBI share price gains as PSU bank’s Q1 profit rises 13.7% to Rs 24,113 crore

Mumbai: Shares of State Bank of India (SBI) gained on Friday after the company posted a 13.73 per cent rise in its June quarter consolidated net profit at Rs 24,113 crore. The stock opened in the red at Rs 1,081.95 today amid a decline in the benchmark indices, Sensex and Nifty, dragged down by financial stocks and rising crude oil prices. This was a Rs 2.9 fall from the previous close of Rs 1,084.85 on the BSE. However, it gained amid a spurt in volume, more than 2.68 times, and touched an intraday high of Rs 1,124.40, representing a gain…
Read More
Ardee Industries IPO GMP today suggests positive listing, check subscription status and other details
07
Aug
By The Press Editor
Business

Ardee Industries IPO GMP today suggests positive listing, check subscription status and other details

Mumbai: The initial public offering (IPO) of Ardee Industries Ltd is getting a good response from investors and has so far received 55.14 times subscription on the third day of bidding on Friday. According to data available on the National Stock Exchange (NSE) at the time of writing the report, the issue got bids for 3,22,13,35,106 shares against 5,84,22,516 shares on offer. The category for non-institutional investors received 161.42 times subscription, while the portion for retail investors was subscribed 32.66 times. The portion for qualified institutional buyers (QIBs) was subscribed 13.89 times. Ardee Industries IPO GMP Today  According to Investorgain, Ardee…
Read More
Gold jumps above Rs 1.50 lakh per 10 grams on MCX, silver surges by around 7k per kg | Check city-wise rates
07
Aug
By The Press Editor
Business

Gold jumps above Rs 1.50 lakh per 10 grams on MCX, silver surges by around 7k per kg | Check city-wise rates

Mumbai: Rates of precious metals in futures traded higher on Friday, August 7, 2026, supported by a softer dollar and safe-haven demand amid renewed Strait of Hormuz tensions. The gold October 5 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 536 or 0.36 per cent at Rs 1,49,355 per 10 grams against the previous close of Rs 1,48,858. It gained further to touch the intraday high of Rs 1,50,487, a gain of Rs 1,629 or 0.09 per cent. Last seen, it was trading at Rs 1,50,217 with a gain of Rs 1,359 or 0.91 per…
Read More
Will the bill to allow charges on UPI impact merchants or consumers? Here’s what FM Sitharaman said
07
Aug
By The Press Editor
Business

Will the bill to allow charges on UPI impact merchants or consumers? Here’s what FM Sitharaman said

New Delhi: Lok Sabha has passed a bill to amend the Payment and Settlement Systems Act, 2007. With this, the government will have the authority to permit banks and other service providers to levy charges on payments through the unified payments interface (UPI) and other notified electronic payment modes. The amendment seeks to remove the existing legal provision that prevents banks and payment service providers from charging Merchant Discount Rate (MDR) on notified electronic payment modes. It is important to note that the passage of the bill does not automatically introduce charges on UPI transactions.  Will it have an impact…
Read More
LIC share price jumps over 2% even in weak market as company’s net profit rises 23% to Rs 13,492 crore
07
Aug
By The Press Editor
Business

LIC share price jumps over 2% even in weak market as company’s net profit rises 23% to Rs 13,492 crore

Mumbai: Shares of Life Insurance Corporation of India (LIC) are trading higher today, even as the benchmark indices, Sensex and Nifty, declined in early trade, dragged down by financial stocks and rising crude oil prices. The action in the stock comes as the company has posted a 23 per cent rise in net profit to Rs 13,492 crore in the first quarter of the ongoing financial year. While the 30-share BSE Sensex declined 235.36 points to 78,699.80 in early trade, the 50-share NSE Nifty dipped 24.30 points to 24,608.25. Amid this weakness in the market, LIC's share opened in the…
Read More
Netflix’s Operation Safed Sagar boosts Indian economy by Rs 215 crore, benefits over 850 local businesses
07
Aug
By The Press Editor
Business

Netflix’s Operation Safed Sagar boosts Indian economy by Rs 215 crore, benefits over 850 local businesses

New Delhi: Celebrating Netflix's 10th anniversary in India, the company's Co-CEO Ted Sarandos has stated that 'Operation Safed Sagar,' Netflix's largest and most ambitious production in India to date, has contributed over Rs 215 crore to the Indian economy. This production exemplifies 'The Netflix Effect,' which demonstrates that Netflix films and web series are not just about entertainment, but also strengthen a country's economy by creating jobs, boosting local businesses, advancing creative technology, and investing in talent. India capable of creating world-class content Speaking at the world premiere of the series in New Delhi, Ted Sarandos said, “Every Netflix production is also…
Read More