NEW DELHI: Convenience rules and consumers are now reaching for ready-to-cook (RTC) meals more than ever before. Interestingly, RTC is the only category in packaged food that has doubled in volume over the last two years, with an additional 18 million households jumping on board.While packaged foods witnessed single-digit growth of nearly 8%, RTC category…
MUMBAI: RBI has mooted a unique, secure borrower identifier to avoid duplication and misreporting of data with credit bureaus, and to improve loan access for borrowers.“Credit information companies rely on credit institutions to provide accurate and validated IDs. Without this, duplication and misreporting remain risks. We must move towards a unique borrower identifier, which is…
A turf war is breaking out in the vast world of digital payments – and the incumbents are suddenly on defense. Tech firms and crypto startups are moving in on territory long dominated by Visa and Mastercard, powered by a new type of currency – the stablecoin – and a pitch merchants can’t ignore: lower…
BENGALURU: Midcap IT firms are poised to outperform large caps in the June quarter, analysts said. Deal signings continued steadily, with minimal large client cutbacks despite ongoing macroeconomic uncertainty, geopolitical tensions, and tariff concerns. However, clients remain cautious with discretionary spending amid these challenges.Brokerage firm Nomura expects large caps to report a subdued quarter, with…
MUMBAI: Shares of HDB Financial Services rose nearly 14% on the day of listing in the stock exchanges closing at Rs 841 against the issue price of Rs 740. At the closing price the company was valued at Rs 69,758 crore.The Rs 12,500-crore initial share sale of HDB Financial Services got subscribed 16.69 times on…
MUMBAI: Indian entrepreneur and founder of Hong Kong-based The Caravel Group, Harindarpal Singh Banga, and his family are selling around a 2.1% stake in Nykaa worth about $140.3 million (Rs 1,200 crore) through a block deal on Thursday, the term sheet of the share sale showed. The Banga family was one of the early investors…
NEW DELHI: In what has the potential to disturb India’s strong march in manufacturing, tensions with China have seen the neighbouring country delay delivery of critical machinery while ordering the pullout of some of its citizens from Indian factories, including those engaged in engineering and manufacturing jobs at Foxconn, Apple’s contract manufacturer.This comes just as…
MUMBAI: RBI has barred pre-payment penalties on floating rate personal and small business loans, aiming to simplify lending and enabling switching lenders. The ban on prepayment charges applies on floating-rate personal loans, or on business loans given to individuals and micro or small enterprises regardless of how the loan is repaid or the source of…
In a step that also implicates the company’s former director Anil Ambani, SBI has moved to classify the loan account of Reliance Communications as fraud. In a disclosure on July 1, RCom stated that SBI plans to report Ambani’s name to the RBI. The move sets off another round of legal contest amid the telco’s…
CHENNAI: Tyre exports from India hit an all-time high of Rs 25,051 crore in FY25, up 9% compared to Rs 23,073 crore clocked in the previous fiscal, commerce ministry data showed. This milestone has come despite global headwinds. The US remains the top export destination, accounting for 17% of India’s tyre exports by value, followed…
