Business

Bengaluru: Citizens in Bengaluru are facing an unusual cash crunch as ATMs across the city report severe shortages. Residents are moving from one ATM to another but are often unable to withdraw sufficient cash. Even ₹500 notes, which form the backbone of daily transactions, have become increasingly difficult to find. According to The Economic Times, banks in the city are struggling to meet the surge in demand. While cash is still arriving at banks, the sudden spike in withdrawals has left many ATMs understocked, with only limited cash being dispensed. Rising Cash Withdrawals Bankers report that cash withdrawals from current and overdraft accounts have increased sharply, especially among businesses in construction, property development, and government civic projects, where salaries...

New Delhi: Gold and silver prices witnessed a significant rise today on the MCX. Silver jumped over ₹7,000 per kg, while gold increased by more than ₹1,100 per 10 grams in early trading. Silver Prices Silver for 5 March delivery closed at ₹2,60,744 per kg in the previous session. Today, it opened at ₹2,65,944 and surged to a high of ₹2,67,990 in early trades, marking a gain of over ₹7,246. At 9:30 AM, silver was trading at ₹2,66,353, up ₹5,609. Gold Prices Gold for 2 April delivery closed at ₹1,59,969 per 10 grams in the previous session and opened today at ₹1,60,977. Early trading saw prices climb above ₹1,61,072, up over ₹1,100. By 9:30 AM, gold was trading at ₹1,60,612 per 10 grams, up ₹643. International Trends Globally, gold gained 0.5%, reaching $5,174.76 per ounce....

New Delhi: Retail investors now have a chance to buy shares of Indian Railway Finance Corporation (IRFC) at a discounted price as the government plans a stake sale via the Offer for Sale (OFS) route. IRFC, a Navratna company under the Ministry of Railways, reported a record profit in the last quarter. The OFS will open for non-retail investors on Wednesday, while retail bidding will be allowed on Thursday, according to Arunesh Chawla, Secretary of the Department of Investment and Public Asset Management. The government is offering 2% equity in this sale, with an additional 2% Green Shoe option. The floor price has been set at ₹104 per share, compared to the previous session’s closing of ₹109.40 on the BSE. The stock’s 52-week high and low are ₹148.90 and ₹108.05, respectively. Throug...

New Delhi: The Trump administration has significantly raised tariffs on solar imports from India, imposing an initial duty of 126%. This move comes amid allegations that India provided unfair subsidies to its solar manufacturing sector. According to The Economic Times, the decision is aimed at protecting American manufacturers but could increase the cost of clean energy projects in the United States. The U.S. Department of Commerce has also imposed initial duties ranging from 86% to 143% on solar imports from Indonesia and 81% from Laos. The administration claims these countries have benefited from government subsidies, allowing their solar products to be sold in the U.S. at prices far below domestic producers. The increased tariffs are intended to level the playing field and support U....

New Delhi: The Marwari community in India is widely recognized for its business acumen. Known for quietly building wealth without ostentation, Marwari entrepreneurs have developed investment principles that focus on discipline, patience, and capital preservation. Chartered Accountant Nitin Kaushik highlights seven key traits that underpin this long-standing financial wisdom. 1. Capital Preservation Comes First Unlike most investors chasing high returns, Marwaris prioritize protecting their capital. Before seeking growth, they ask whether their investments can survive a prolonged economic downturn. Emergency funds are untouchable, and business and personal finances are kept strictly separate. Only surplus funds are deployed into riskier ventures—a strategy that acknowledges that losse...

New Delhi: The Employees’ Provident Fund Organisation (EPFO) is planning a major overhaul in the way it invests members’ funds, aiming to reduce market-related risks. Instead of allocating money across five separate schemes, EPFO will now pool funds into a single shared fund and invest collectively. Additionally, large investments will be made annually rather than monthly, shielding members’ money from short-term market fluctuations. According to The Economic Times, the final approval for these changes could come in the Central Board of Trustees (CBT) meeting scheduled for March 2. However, announcements regarding interest rates for the financial year 2025-26 are not expected during this session. Since 2015, EPFO has allocated 5–15% of new earnings into exchange-traded funds (ETFs). ...

New Delhi: Vineeta Singh, former judge on Shark Tank India, is the co-founder and CEO of Sugar Cosmetics, a premium beauty brand that has captured the hearts of Indian women. Despite being offered a lucrative ₹1 crore job at the age of 23, Vineeta chose the uncertain path of entrepreneurship—and today, her company is valued at ₹4,000 crore. Born in 1983 in Anand, Gujarat, Vineeta grew up in a highly educated household. Her mother held a PhD, while her father was a biophysicist at AIIMS. Excelling academically from an early age, she completed her schooling at Delhi Public School, R.K. Puram, followed by a B.Tech in Electrical Engineering from IIT Madras and an MBA from IIM Ahmedabad. At just 23, she received an offer from an investment bank with a salary of ₹1 crore—but Vineeta decide...

New Delhi: On Tuesday, the gold and silver markets witnessed mixed movements in the first three hours of trading. While gold prices slipped, silver edged higher, showing divergent trends in precious metals. Intraday Price MovementsOn the MCX, April delivery gold fell by ₹748 per 10 grams, trading at ₹1,60,850. In contrast, silver rose sharply, gaining ₹1,067 per kg to reach ₹2,66,400. During the midday session, gold dipped further to ₹1,60,295, while silver momentarily fell to ₹2,62,908 before rallying to ₹2,68,130, up roughly ₹2,800 from earlier levels. Reasons Behind the Price FluctuationsExperts attribute the volatility to a strengthening U.S. dollar and uncertainty over U.S. tariffs. Heightened tensions between Washington and Tehran also contributed to fluctuating prices in the d...

New Delhi: Gurugram is fast emerging as a hub for ultra-luxury residential properties, and the latest high-profile buyer is Ajit Jain, the Vice Chairman of Insurance Operations at Berkshire Hathaway and one of Warren Buffett’s most trusted executives. Jain, a Non-Resident Indian (NRI) and an alumnus of IIT Kharagpur, has purchased a ₹85 crore (approx. $10 million) flat in the prestigious DLF The Camellias development. The sprawling apartment spans 7,400 sq. ft. and was finalized during Jain’s recent visit to Delhi. NRIs Drive Ultra-Luxury DemandAccording to The Economic Times, NRIs contribute over 25% of sales in DLF’s ultra-luxury segment, and Ajit Jain is among the most prominent of these buyers. Such projects are particularly attractive to wealthy NRIs who spend a few months in India...

New Delhi: Indian and international airlines are increasingly investing in premium cabins as the number of passengers opting for business and first-class travel continues to rise. Companies including Air India, Emirates, and Lufthansa are upgrading interiors, enhancing in-flight services, and expanding business-class seating, with multi-billion-dollar investments aimed at capturing the high-paying traveler segment. Rising Demand for Premium TravelIn recent years, air travel in India has surged, along with the expansion of domestic and international routes. A notable trend has emerged: Indian travelers on overseas flights are increasingly choosing business and first-class over economy. International carriers servicing India are responding by increasing premium seat availability. Accor...