Business

Paytm’s parent company, One97 Communications Ltd, on Friday said it expects any impact arising from the discontinuation of the Reserve Bank of India’s Payments Infrastructure Development Fund (PIDF) scheme to be offset over time through higher revenue growth and a more targeted sales strategy. In a clarification submitted to the stock exchanges, the company said it had received incentives under the PIDF scheme as revenue, linked to eligible expenses incurred on the deployment of payment acceptance devices such as Soundbox and electronic data capture (EDC) machines. The company added that a sustained focus on expanding merchant services and optimising sales efforts would help mitigate the impact of the scheme’s withdrawal. Paytm reiterated its commitment to strengthening its paymen...

New Delhi:Ahead of the implementation of the Eighth Pay Commission for central government employees, the Union Government has approved a significant increase in salaries and pensions for employees and pensioners of public sector general insurance companies (PSGICs), the Reserve Bank of India (RBI), and the National Bank for Agriculture and Rural Development (NABARD). The decision is set to benefit around 46,322 serving employees, 23,570 pensioners, and 23,260 family pensioners, according to an official government statement. Pay Revision Effective from August 2022 For employees of public sector general insurance companies, the wage revision will be retrospectively effective from August 1, 2022. The revision will result in an overall 12.41 percent increase in the wage bill, with a 1...

New Delhi: Just days before the expected announcement of what is being described as the world’s largest trade deal, the European Union (EU) has delivered a setback to India by withdrawing export tariff benefits on several Indian goods. The move comes at a sensitive time, as negotiations between India and the EU on a Free Trade Agreement (FTA) are in their final stages, with an official announcement expected around January 26. The EU has suspended benefits under its Generalised Scheme of Preferences (GSP) for a wide range of Indian exports, including textiles, jewellery, chemicals, plastics, metals, machinery, and transport equipment. As a result, these products will now face higher import duties in the European market starting January 1, 2026. Loss of Tariff Advantage According to...

After a brief decline in the previous trading session, gold and silver prices rebounded sharply on Friday, the last trading day of the week. As soon as trading began on the Multi Commodity Exchange (MCX), both precious metals witnessed strong buying momentum, led by a sharp spike in silver prices. Silver Sees Sharp Rally Silver prices surged by nearly ₹8,000 per kilogram in early trade. The March 5 delivery silver contract, which had settled at ₹3,27,289 per kg in the previous session, opened higher at ₹3,33,333 per kg. During early trading, silver touched an intraday high of ₹3,39,927 per kg. At around 10:26 AM, silver was trading at ₹3,34,879 per kg, up ₹7,590 or 2.32 per cent, reflecting strong investor demand. Gold Prices Also Rise Gold prices followed a similar upward t...

In response to high tariffs imposed by the United States, the Indian government has launched a strategic initiative to diversify exports and strengthen its global trade footprint. The U.S., India’s largest export market, currently levies a 50% tariff on Indian goods, affecting bilateral trade despite signals of a potential trade deal from President Donald Trump. Diversifying Export Markets The Prime Minister’s Office (PMO) has sent a clear message to Indian missions worldwide: “Every country matters.” Senior officials from the PMO, the Ministry of Commerce, and trade associations have held multiple meetings to identify opportunities for expanding exports beyond the U.S. market. Indian missions have been instructed to prioritize exploring new markets and increasing the diversity of pr...

Silver prices have witnessed significant volatility in recent weeks, with a 38 percent jump this month alone. After a dip on Thursday, silver rebounded sharply in early trading on Friday, fueled in part by insider trading allegations on the Multi Commodity Exchange (MCX). Insider Trading Allegations The All India Jewellers & Goldsmith Federation (AIJGF) has written to the Finance Minister, alleging that silver derivative contracts on MCX were trading at a premium of around ₹40,000 per kg above benchmark or spot-linked parity on January 21. The federation claims the surge was triggered by rumors of an impending hike in import duty on silver. The letter, signed by AIJGF’s National President Pankaj Arora and General Secretary Nitin Kedia, urges regulatory scrutiny of the MCX silv...

India’s largest airline, IndiGo, reported a sharp 78 percent decline in its Q3 profit as operational disruptions and compliance challenges hit the company hard. The airline’s net profit fell to ₹549.1 crore for the December quarter, down from ₹2,448.8 crore in the same period last year. The parent company, InterGlobe Aviation, saw its total revenue rise to ₹24,540.6 crore, compared with ₹22,992.8 crore in Q3 of the previous fiscal year. Despite higher revenue, widespread flight cancellations at the start of December severely impacted profitability. Operational Disruptions and DGCA Intervention In early December, IndiGo faced major operational disruptions, prompting the Directorate General of Civil Aviation (DGCA) to reduce the airline’s winter flight schedule by up to 10 percent u...

Investors looking for a safe and attractive alternative to fixed deposits (FDs) may find an appealing option in the Zero Coupon Bonds (ZCBs) issued by state-owned Power Finance Corporation (PFC). With the subscription window closing on January 30, market experts say these bonds offer better post-tax returns than long-term bank FDs, along with the flexibility of early exit. According to a report by The Economic Times, PFC’s Zero Coupon Bonds have a tenure of 10 years and one month and will be listed on stock exchanges, allowing investors to sell them in the secondary market if liquidity is needed before maturity. How Do These Bonds Work? Unlike regular bonds, zero coupon bonds do not pay periodic interest. Instead, they are issued at a discounted price and redeemed at face value up...

Behind every glamorous success story lies a chapter of struggle that often goes unnoticed. The journey of Manish Chowdhary, co-founder of WOW Skin Science, is a powerful reminder that failure, when met with resilience, can become the foundation of extraordinary success. Today, WOW Skin Science is among India’s most trusted direct-to-consumer (D2C) personal care brands, serving millions of customers across India and overseas. But a decade ago, Chowdhary’s reality was starkly different. Bankrupt at 29 At the age of 29, Manish Chowdhary was effectively bankrupt. A failed business venture had left him burdened with a staggering ₹6.5 crore debt, accompanied by financial stress, legal complications, and the fear of having lost everything even before turning 30. For many, such a setba...

Indian equity markets ended Thursday’s session on a strong note, extending their upward momentum amid broad-based buying across sectors. The benchmark indices closed firmly in the green, setting the stage for selective stock-specific action in Friday’s trade. The Sensex rose by 397.74 points (0.49%) to close at 82,307.37, while the Nifty 50 gained 132.40 points (0.53%), settling at 25,289.90. Defence, PSU Banks Lead the Rally The rally was led by defence stocks, with the Nifty India Defence Index surging 2.67 percent, reflecting strong investor interest following recent policy and budget-related expectations. Other sectoral indices also posted healthy gains: Nifty PSU Bank: +2.34% Nifty Pharma: +1.59% Nifty PSE: +1.51% Nifty Commodities: +1.25% Nifty Metal: +1.18% ...