Business

MUMBAI: Kotak Bank’s statement that it is not in the race to acquire IDBI Bank would mean that the success of govt’s plan to sell IDBI Bank will depend upon the interest of foreign bidders. Kotak Bank, while never an official contender, was long seen as a potential acquirer given the bank’s high capital adequacy…

NEW DELHI: After a near standstill in business, carpet exporters are now seeing some signs of activity.The punishing 50% US tariffs, including 25% penalty for Russian oil buys, had resulted in buyers putting orders on hold, which resulted in operations in Bhadohi and parts of J&K, the two carpet-making hubs, slowing down considerably.“There are 24-25…

MUMBAI: State Bank of India has raised its credit growth target for the year after broad-based momentum lifted profitability in the Dec quarter, chairman CS Setty said at a briefing. “On the credit growth advice we had given 12 to 14% credit guidance earlier. We are revising that upwards to 13 to 15% based on…

Union Commerce and industry minister Piyush Goyal said decisions related to India’s imports of Russian crude oil are taken by domestic buyers and are not dictated by the recently concluded India-US interim trade agreement framework, while stressing that diversification into energy supplies including LNG and oil is in India’s strategic interest.Speaking to ANI, Goyal addressed…

Niti Aayog member and former DRDO director general VK Saraswat on Sunday said venture capitalists must increase financial support for Indian defence startups, asserting that these firms have come a long way but require stronger funding backing for sustained growth.Speaking with PTI Videos on the sidelines of the Advantage Vidarbha-2026 Business Conclave and Investment Summit,…

Representative image (Generated by AI) India has allowed a duty concession on imports of only 5 lakh tonnes of dried distillers’ grains (DDGS) from the US under the first phase of the bilateral trade pact, an official told PTI stressing that the volume is equivalent to about 1 per cent of the country’s total consumption.The…

NEW DELHI: Public procurement platform GeM is upgrading its portal to handle higher data load and roll out a future-ready platform this year, its CEO Mihir Kumar said.With the Government e-Marketplace (GeM) platform completing nine years, GeM is replatforming itself which will be a “data lake” for frictionless buyer-seller interface, Kumar told PTI.“We are discussing…

India’s housing market remains strong, with steady growth in both sales volumes and prices, Godrej Properties Executive Chairperson Pirojsha Godrej has said, ruling out any major concerns about demand.In an interview with PTI, Godrej said that the residential market has now stabilised after witnessing unusually rapid growth in the years following the COVID-19 pandemic. He…

Garment exporters in Tamil Nadu’s textile hub Tiruppur expect shipments to the United States to double to about Rs 30,000 crore over the next three years following the India-US trade framework, industry representatives told PTI.They also indicated that the sector could generate about 5 lakh additional jobs over the next three to five years as…

Aadhaar custodian UIDAI has completed mandatory biometric updates (MBU) for over one crore school children across 83,000 schools nationwide, according to an official statement.A child below five years can enrol for Aadhaar using photograph, name, date of birth, gender, address and birth certificate. However, fingerprints and iris biometrics are not captured at this stage as…