BUSINESS
India's Deeptech Startups Total 3,600, Securing 6th Place Globally, Says NASSCOM
According to joint findings by the Nasscom and Zinnov, over 480 of such startups have been set up in just the last year alone, compared to the preceding year of 2022, rising two times higher.
SBI Board Greenlights Rs 20,000 Crore Long-Term Bond Issue
Its shares ended 1 percent higher at Rs 854 on the Bombay Stock Exchange.
Adani Ports Shine in World Bank's Global Container Port Performance Index
Ashwani Gupta, CEO and whole time director of APSEZ, expressed an overwhelming feeling and said that he felt proud of not only the continuous effort of his team but also the unwavering commitment shown by the company toward doing something extraordinary in customer service. The CPP Index is the index of repute which grades the port on parameters such as productivity, efficiency, and reliability; it makes for a very important source of reference for all stakeholders like governments, port authorities, development agencies, and private operators in trade, logistics, and supply chain services.
RBI Forecasts India's Economy Accelerating to 8% Growth
According to indicators, current evidence shows that there is a rebound in private consumption that has become an important driver of demand with participation from the rural consumer. With public welfare spending on the verge of surging, the FMCG sector readies itself for healthy growth even in an otherwise troubled traditional walk-in business, helped by e-commerce platforms, especially in heatwaves.
SBI Study Reveals Public Sector Banks Outperform Private Rivals in Efficiency
Efficiency here is reflected through the banks' ability to effectively utilize their resources.
There has never been a better time to be an Indian, says Gautam Adani
Adani was very confident about India's growth momentum and cited the reason to be intense social and economic reforms that the government has been implementing. He further said that by 2050, India will be a USD 30 trillion economy with probably more than USD 40 trillion stock market capitalisation. Currently, it is more than USD 5 trillion, so the stock market capitalisation of India is all set to grow exponentially.
RBI Governor Optimistic Growth Will Exceed 7.2% Estimate in April-June Quarter
He also pointed to the strong recovery in private consumption, mentioning recovery in rural demand, which, again, he broadly attributed to good growth in the agricultural sector. An above-average monsoon, as projected by the India Meteorological Department, is bound to further raise Khariff crop production.
Foreign Funds Pour Over Rs 83,000 Crore into Indian Debt Market Since September
JP Morgan recently announced that Indian bonds would find a place in emerging global indices from June 28. REUTERS Global funds have invested around Rs 7,350 crore in Indian bonds till June 18, according to data from the Clearing Corporation of India against Rs 5,200 crore invested in May. However, in April these funds sold Rs 9,830 crore worth of bonds in the Indian debt market.
India Sees Strong 21% Rise in Net Direct Tax Collections for FY25
The net direct tax collection includes Corporation Tax CIT of Rs 1,80,949 crore, and Personal Income Tax PIT, including STT, of Rs 2,81,013 crore net of refunds.
Fitch Upgrades India's FY25 Growth Forecast to 7.2%
For the fiscal years 2025-26 and 2026-27, Fitch forecasts growth rates of 6.5 percent and 6.2 percent, respectively.
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