BNP Paribas MF ceases to exist as mutual fund, says SEBI

BNP Paribas Mutual Funds cease to exist as a mutual fund, capital markets regulator SEBI said on Wednesday. This comes after BNP Paribas Asset Management Company Private Limited (BNPP AMC) informed SEBI that it wants to surrender the registration granted to BNP Paribas Mutual Fund by the market regulator pursuant to change in control. Following […]

Country applauds heroic efforts of rescue personnel: PM after ropeway incident

Prime Minister Narendra Modi on Wednesday evening said that the entire country applauds the heroic effort of security personnel in saving the lives of people caught in the Jharkhand ropeway accident. PM Modi was having a virtual interaction with the security personnel involved in rescue operations at Jharkhand’s Deoghar, where three people died in a […]

Bullet train trials to be conducted at 350 kmph, comparable to take-off speed of airplanes

The trials of the bullet train will be conducted at a speed of 350 kilometers per hour, comparable to the take-off speed of airplanes, officials said on Wednesday. The first such trial will be held between Bilimora and Surat in Gujarat in 2026, followed by other sections, they said. The operational speed of the trains […]

Center releases Rs 2.94 lakh cr to FCI, states as food subsidy last fiscal

The Center has released Rs 2,94,718 crore towards food subsidy during the last fiscal to Food Corporation of India (FCI) and states, which is slightly higher than the revised budget estimates. During the financial year 2021-22, the Department of Food & Public Distribution released Rs 2,94,718 crore towards food subsidy, under both DCP (decentralized procurement) […]

Jharkhand tragic incident: Deoghar ropeway had passed safety audit last month

Experts who conducted an audit on the Deoghar ropeway where a malfunction saw cable cars colliding and a 46-hour long rescue by helicopters, said that the ropeway was “fine” when a safety audit was done last month. Two separate probes including one by the operator – Damodar Ropeways and Ifra Ltd (DRIL) – and another […]

India, EU to restart talks for free trade agreement in June

India and the 27-nation European Union (EU) will restart negotiations for their long-pending free trade agreement from June, a top official said on Wednesday. Commerce Secretary BVR Subrahmanyam said the EU team would visit India for talks immediately after the ministerial meeting of the World Trade Organization (WTO), which is scheduled from June 12-15. The […]

Global growth will take a hit from Ukraine war: Yellen

Global economic growth will take a hit from Russia’s war in Ukraine, US Treasury Secretary Janet Yellen said on Wednesday, noting that it had sent prices for food, energy and some metals sharply higher, fueling existing inflationary pressures. “It is likely to be a hit to global growth,” Yellen told an event hosted by the […]

Govt exempts all customs duties on cotton imports till 30 Sept

Import of cotton has been fully exempted from customs duties till September 30, 2022, a move which will benefit the textile industry and lower prices for consumers, the Ministry of Finance on Wednesday said in a notification. “This notification shall come into effect on the 14th April, 2022, and will remain in force up to […]

Global growth will take a hit from Ukraine war: Yellen

Global economic growth will take a hit from Russia’s war in Ukraine, US Treasury Secretary Janet Yellen said on Wednesday, noting that it had sent prices for food, energy and some metals sharply higher, fueling existing inflationary pressures. “It is likely to be a hit to global growth,” Yellen told an event hosted by the […]

Flexibility will be key going forward: TCS’s COO N Ganapathy Subramaniam

IT services major Tata Consultancy Services (TCS) reported 7.3 per cent year-on-year (YoY) increase in consolidated net profit for the quarter ending March 31, 2022 at Rs 9,926 crore. The company announced its highest-ever order book at $11.3 billion in Q4 while $34.6 billion in full-year 2021-2022. N Ganapathy Subramaniam, chief operating officer, and Executive […]