NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb…
MUMBAI: India has emerged as the single biggest market for Malaysia Airlines Berhad and the carrier has added capacity in this market by pulling out its flights from the Asean and domestic networks. Currently operating 77 weekly flights to 10 cities in India, the airline has flown 13 lakh people in & out of the…
MUMBAI: AU Small Finance Bank’s promoters will transfer their shares to a non-operative holding company (NOHC) as part of RBI’s conditions for the lender’s transition into a full-fledged or universal bank. The lender has also decided to shift its corporate headquarters from Jaipur to Mumbai, after receiving in-principle approval from RBI for the upgrade.AU Small…
NEW DELHI: There is a need to redefine the role of independent directors, and company boards must treat them as “stewards of accountability” and not as honorary appointees, Sebi chairman Tuhin Kanta Pandey said on Friday. He called on boards to equip themselves to meet the challenges of the future.“They must be viewed and treated…
MUMBAI: State Bank of India reported a 9.7% year-on-year rise in consolidated Q1 FY26 profit to Rs 21,201 crore, driven by robust treasury and forex income. Standalone net profit increased to Rs 19,160 crore from Rs 17,035 crore that was recorded a year earlier.Advances grew 11.6% YoY, but core net interest income slipped 0.1% to…
MUMBAI: HDFC Bank MD & CEO Sashidhar Jagdishan told shareholders at the bank’s annual general meeting that reverse mortgage loans do not work in the Indian context because of “various legal and operational issues.” He added, “I’m not aware of any bank currently offering it. One bank did in the past, but they have stopped….
MUMBAI: The profitability of Tata Motors‘ cash cow, Jaguar Land Rover, was hit by tariffs imposed by US President Donald Trump, resulting in a 30% fall in the overall profitability of the Indian company. Outgoing JLR chief Adrian Mardell anticipates new trade deals signed between the US and the UK, effective June 30, and between…
MUMBAI: At the heart of India’s non-leather footwear manufacturing hub in Tamil Nadu where global brands such as Nike, Puma, Crocs and Adidas are pouring in several thousand crores of investments, there is worry over the looming US tariff threat of 50%. Brands are looking to reroute some of their orders to the US through…
BENGALURU: Biocon is gearing up to manage potential challenges arising from US govt’s proposed tariffs on pharma imports. The company cautioned that these higher duties could impact profit margins and disrupt the availability of affordable generic medicines for American patients.The US remains Biocon’s largest market, contributing a significant share of its overall sales. However, the…
NEW DELHI: Asserting that “India will not bow down to anybody”, commerce and industry minister Piyush Goyal said on Friday that countries will restructure their trade routes and partners.“The world keeps evolving, international trade keeps finding new pathways. What we are seeing today is possibly a churn that is bound to happen every few years…
