Business

New Delhi: Good news for private sector employees: the government is preparing a major initiative to bring millions of workers under the social security umbrella. Plans are underway to raise the Employees’ Provident Fund Organisation (EPFO) monthly salary limit from ₹15,000 to between ₹25,000 and ₹30,000. What the Salary Limit Means The salary limit determines the basic salary threshold on which contributions to the provident fund (PF) are legally mandatory. Under current rules, if an employee’s basic salary exceeds ₹15,000, contributing to PF is optional. According to reports, the government had previously considered raising the limit to ₹25,000 but shelved the plan due to opposition from companies, which argued that it would increase their financial burden. Meanwhile, employee u...

New Delhi: Cryptocurrencies and other virtual digital assets (VDAs) continue to spark debate globally. India remains one of the countries that has yet to formally approve cryptocurrencies. The Reserve Bank of India (RBI) has already voiced strong opposition, and now the Income Tax Department has highlighted major risks associated with these digital assets. Concerns Raised by Income Tax Authorities During a presentation to the Parliamentary Finance Committee, tax officials emphasized that cryptocurrencies enable instant money transfers across borders without banks or government intermediaries. Identities can remain hidden, making the system difficult to monitor. The department pointed out that foreign exchanges, private digital wallets, and decentralized platforms make it nearly im...

New Delhi: Age is just a number—and sometimes, it can be the perfect time to start a business. Beena Tom, 56, from Kerala, is a living example. Starting from her home garden, she has built a thriving enterprise, producing and selling a wide range of products made from the fruits and vegetables she grows. Today, her business earns her several lakhs of rupees annually. From Hobby to Enterprise Beena’s business, Bees of Beena, offers more than 140 products, including homemade pickles, jams, squash, juices, chips, pulps, and honey. Her products have gained popularity both online and offline, with orders coming from across India. She now delivers to cities like Bengaluru, Lucknow, and Mumbai, expanding far beyond Kerala. The Beginning Beena’s journey began in 2017, after her husband...

Mumbai: Bharat Coking Coal Ltd (BCCL), a subsidiary of India’s largest coal mining company Coal India Ltd (CIL), is opening its Initial Public Offering (IPO) to the public today, 9 January 2026. Investors can place bids until 13 January 2026, with the company expected to list its shares on the BSE and NSE on 16 January 2026. This marks the first mainboard IPO of 2026. Price Band and Offer Details The IPO is priced in the range of ₹21 to ₹23 per share. At the upper end of the price band, Coal India Ltd stands to raise approximately ₹1,071 crore. As this is a complete Offer for Sale (OFS), BCCL will not receive any proceeds; the entire amount will go to its parent company, Coal India Ltd. Grey Market Response BCCL has received a strong response in the grey market. As of the morni...

New Delhi: The Indian stock market faced significant selling pressure on Thursday, with all major indices closing sharply lower. The Sensex dropped 780.18 points (0.92%) to close at 84,180.96, while the Nifty 50 fell 263.90 points (1.01%) to 25,876.85. Market analysts attribute the decline to concerns over potential U.S. tariff hikes and continued foreign institutional investor (FII) selling. Sector-Wise Performance Metal stocks were the biggest drag on the market, with the Nifty Metal Index plunging 3.40%. Other sectors also ended in the red: Nifty Energy: -2.89% Nifty Oil & Gas: -2.84% Nifty PSE: -2.48% Nifty Commodities: -2.40% Nifty PSU Bank: -2.08% Nifty IT: -1.99% Nifty Realty: -1.71% Nifty Pharma: -1.39% No major index managed to close in the g...

New Delhi: The chill in India-China relations appears to be thawing, with the two countries moving closer in trade and economic cooperation. Following U.S. President Donald Trump’s tariffs last year, India and China have rekindled economic ties, and the Indian government is reportedly considering a major policy shift. According to Reuters, India may soon reopen government contracts to Chinese companies—a significant move, given that these firms have been excluded from public tenders since 2020. Proposed Changes Sources indicate that the Finance Ministry is drafting a proposal to remove rules that required Chinese companies to register with a government panel and obtain security clearance before participating in government tenders. These rules were implemented following violent clashe...

New Delhi: Mukesh Ambani’s Reliance Industries Limited (RIL) is considering buying crude oil from Venezuela once again. The company, which operates the world’s largest refining complex, said it would explore purchasing Venezuelan oil if sales to non-U.S. buyers are permitted. A Reliance spokesperson, responding via email to Reuters, said:"We are waiting for clarity on access to Venezuelan oil for non-U.S. buyers and will consider purchasing it in compliance with regulations." The shift comes after Caracas and Washington recently struck a deal following the arrest of Venezuelan President Nicolás Maduro by the U.S. military. Under this agreement, the U.S. is authorized to export up to $2 billion worth of Venezuelan crude (roughly 30–50 million barrels). Why Reliance Had Stopped Buyi...

New Delhi: Air India, now under the ownership of the Tata Group, has received its first ‘line-fit’ Boeing 787-9 Dreamliner since the airline was privatized. This marks the first addition of a Dreamliner to Air India’s fleet in over eight years. The last line-fit Dreamliner was received in October 2017, when the airline was still government-owned. In the aviation industry, ‘line-fit’ refers to equipment, systems, or features installed during the aircraft’s manufacturing process rather than retrofitted later. According to officials, Air India took possession of the aircraft on 7 January at Boeing’s Everett factory in Seattle, USA. Following inspection by the DGCA, the aircraft is expected to arrive in India in the coming days. Wide-Body Aircraft BoostThis latest aircraft is Air India’s...

New Delhi: Amid a sharp decline in the stock market, Alok Industries, one of India’s leading textile companies, saw its shares jump over 8% today. Reliance Industries holds a 40% stake in the company. The broader market continued its downward trend for the fourth consecutive day, with the BSE Sensex falling nearly 700 points during trading. Over the past four sessions, the Sensex has lost around 1,500 points, wiping out more than ₹7 lakh crore in investor wealth. In this turbulent scenario, Alok Industries’ stock rose to ₹17.25 per share, up from the previous close of ₹15.86 on the BSE. Trading activity in Alok Industries was unusually high, with 23.3 million shares exchanging hands, approximately nine times the average weekly volume. Between July and December last year, the stock fa...

New Delhi: Gold and silver prices witnessed a decline today, with silver experiencing a sharp fall of up to ₹10,000 per kilogram and gold dropping by nearly ₹1,500 per 10 grams. On the MCX, March silver contracts had closed at ₹250,605 per kg in the previous session and opened at ₹251,041 today. During trading, silver fell to a low of ₹240,605 per kg. As of 1:22 PM, silver was trading at ₹242,346, down ₹8,259 or 3.3% from the previous close. Meanwhile, February gold contracts opened marginally lower at ₹137,996 per 10 grams, after closing at ₹138,009 per 10 grams in the previous session. During the session, gold slipped to a low of ₹136,500 per 10 grams. At 1:24 PM, gold was trading at ₹137,035, down ₹974 or 0.71%. Last year had seen record highs in both gold and silver prices. Ou...