BUSINESS
Exim Bank logs Rs 1,556 cr net in FY23
According to Exim Bank, the company closed FY23 with a net profit of Rs 1,556 crore up from Rs 738 crore logged during FY22. During the year under review, the bank had sanctioned loans aggregating Rs 79,764 crore to enhance export capabilities of Indian companies and support development priorities of partner countries.
Greaves Cotton logs Rs 115cr net, declares dividend of Re 0.90 per share
In a regulatory filing, the company said it had closed FY23 with a net profit of Rs 115.10 crore (compared to previous year's Rs 27.08 crore) on a total income of Rs 1,592.29 crore (against last year's Rs 1,209.18 crore). According to Greaves Cotton, it hopes to conclude definitive agreements with Runal Developers LLP for the sale of its land and building at Pune for Rs 284 crore.
Sequoia Capital India makes 2nd semiconductor investment in country
InCore Semiconductors raised $3 million in a seed-funding round from Sequoia Capital India announced during the IT Ministry's 'SemiCon India FutureDesign Roadshow' led by Minister of State for IT and Electronics, Rajeev Chandrasekhar, at IIT Delhi.
India set for domestic carbon market in June
India, China, Brazil and some other developing countries have been strongly advocating at every UN climate summit for continuation of carbon credits, which allow companies to compensate for their greenhouse gas emissions, under the 2015 Paris Agreement -- an ambitious global action plan to fight climate change. So what are carbon markets.
Our aim is to create 100 semiconductor design startups: MoS IT
Addressing a gathering of students, young innovators, industry stakeholders and others at IIT Delhi, the minister said that the country will soon have a talent pool of 85,000 highly-skilled professionals in the semiconductor space. Our target is to create 100 semiconductor design startups as there are immense innovation possibilities in this.
Finance Minister stresses on dilemmas faced by emerging markets between climate security and growth
Addressing a G7 seminar on economic policies for welfare in Niigata, Japan, the Finance Minister shared that technology improves access for the poor to markets and basic services. She further highlighted that access to digital connectivity has empowered people and there is a need to discuss ways to measure empowerment going.
Govt issues order against 5 top e-commerce platforms for selling car seat belt alarm stopper clips
The clips compromise life and safety of consumers by stopping alarm beeps when not wearing seat belts. Headed by chief commissioner, Nidhi Khare, who is also the additional secretary in the consumer affairs department, CCPA, passed the orders against the above-mentioned entities, official sources said.
Nirmala Sitharaman meets IMF chief in Japan
She is on a two-day visit to Japan. The G7 meeting is taking place in Niigata. Meanwhile, she also met Singapore's Deputy Prime Minister and Finance Minister Lawrence Wong during the sidelines of the meeting. Both the ministers exchanged their views on strengthening India-Singapore cooperation on issues like digital.
ONGC discovers oil, gas in 2 Mumbai offshore blocks
"Oil and Natural Gas Corporation Ltd (ONGC) has made discoveries of Oil and Gas in MBS171HAA-1 (MBS171HAA-A)-"AMRIT" in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea," a statement issued by ONGC said.
CBIC rolls out automated scrutiny module for GST returns
In the module, discrepancies on account of risks associated with a return are displayed to the tax officers, who are provided with a workflow for interacting with the taxpayers through the GSTN common portal for communication of discrepancies. Implementation of this automated return scrutiny module has commenced with the scrutiny of GST returns for 2019-20, and the requisite data for the purpose has already been made available on the officers' dashboard, official sources said.
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