BUSINESS
US bank shares tumble despite Joe Biden insisting system is safe
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said her admission that fresh regulations may be needed to stop further failures exposes weaknesses in the current system and now lawmakers will be asked to toughen the rules, The Guardian reported.
BharatPe strongly denies out-of-court settlement talks with Ashneer
BharatPe filed a fraud case against Grover and his family in Delhi High Court for allegedly siphoning off Rs 88.6 crore, which is currently ongoing. In a statement to IANS, the company said that reports "suggesting any settlement between BharatPe and Mr Grover or his family are completely baseless and untrue".
GAIL declares interim dividend of Rs 4 per equity share for 2022-23
The total dividend amount is Rs 2,630 crore. GAIL's board of directors approved the payment during its meeting held on Monday. GAIL Chairman Sandeep Kumar Gupta said that the company has been providing shareholders with a steady long-term returns on their investments.
25 AAI airports have been earmarked for leasing: Government
The AAI has leased out eight of its airports - Delhi, Mumbai, Ahmedabad, Guwahati, Jaipur, Lucknow, Mangaluru, and Thiruvananthapuram through Public Private Partnership (PPP) for operation, management and development on a long-term lease basis.
IREDA gets 'Infrastructure Finance Company' status from RBI
The IREDA was earlier classified as 'Investment and Credit Company (ICC)'. With the IFC status, it will be able to take higher exposure in RE financing. The IFC status will also help the company to access a wider investor base for fund mobilisation, resulting in competitive rates for fundraising.
Coal imports see 25% fall in last 3 years as India aims to enhance domestic production
In fact, coal imports have gradually come down since 2019-20, as in 2020-21, it was 215.25 million tonnes while in 2021-22, it further came down to 208.93 million tonnes. In 2022-23, it further slid below the 200 million tonnes mark to 186 million tonnes till December 2022.
We're building AI for governance, commercial use, deep capabilities: Rajeev Chandrasekhar
Reiterating that artificial intelligence (AI) is a "kinetic enabler" of the digital economy, Chandrasekhar said that India is building AI in a way that is beyond ChatGPT which has made conversations via AI a fashionable thing for the masses. "We aim to build commercially deployable AI platforms and solutions, developed by a vibrant startup ecosystem in the country which is our primary goal," the minister said during a dialogue at the Vigyan Bhawan here.
Retail inflation sees marginal fall to 6.44% in February 2023
Food inflation also slid to 5.95 per cent in February 2023 compared to 6 per cent in January. Consumer price index (CPI) based inflation had touched 6.52 per cent in January 2023, which was a three-month high owing to higher food prices. However retail inflation was 6.07 per cent in February 2022, and therefore CPI-based inflation in February 2023, at 6.44 per cent, was higher compared to the year-ago period.
America's $620 billion ticking time bomb
News of the worrying shortfall came amid the closure of Silicon Valley bank- the largest collapse since Washington Mutual in 2008, the Daily Mail reported. As the government scrambles to prevent contagion, the Federal Reserve announced on Sunday night that all depositors would get their money back.
Excise policy scam: Delhi court extends businessman Arun Pillai's ED custody by 3 days
He was arrested on March 6 after hours of questioning in the case. Special judge M. K. Nagpal of the Rouse Avenue Courts sent Pillai to ED custody on March 7, which expired on Monday. The judge, dealing with the matter, extended his custody on Monday. On March 10, Pillai moved an application before the same court seeking to retract his statements given to the probe agency in the case.
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