Buisiness

MUMBAI: IndusInd Bank‘s board has decided to appoint an external agency to conduct a comprehensive investigation into discrepancies identified in its derivative portfolio.On March 10, the bank disclosed that there was an ongoing review by an external agency regarding certain discrepancies in its account balances related to derivative transactions. The bank said any resultant impact…

NEW DELHI: Boeing has laid off up to 180 employees at its Boeing India Engineering Technology Center (BIETC) in Bengaluru as part of a global downsizing exercise. Boeing senior VP & president of Boeing Global, Dr Brendan Nelson, has confirmed this to TOI.“We are right sizing the company. As part of that, 150-180 Boeing employees…

MUMBAI: The rupee on Friday regained 85 level, posting its strongest gain against the dollar in over a month, supported by foreign fund inflows and the unwinding of speculative long-dollar positions. Meanwhile, the sensex and Nifty both continued their northward movements and closed higher, their fifth consecutive sessions of gains.The rupee recorded its best weekly…

MUMBAI: Mukesh Ambani-led Reliance Industries is set to acquire 74% of Nauyaan Shipyard from Welspun Corp, owned by B K Goenka, for Rs 383 crore, gaining access to 138 acres of leasehold land in Dahej, Gujarat. This land is located near Reliance’s petrochemical manufacturing facility. In Jan 2023, Welspun had purchased 165 acres in Dahej,…

Foreign portfolio investors have continued their exodus from Indian stock markets in early March as well. (AI image) Indian stock market indices, Sensex and Nifty, have come down significantly from lifetime highs. Investors have lost several lakh crore in the market correction and foreign portfolio investors have been withdrawing money continuously for several months now.Foreign…

Gratuity payment calculations are governed by specific guidelines outlined in the Payment of Gratuity Act. (AI image) Salaried employees quite often have gratuity as a component of their CTC (cost to company). The Payment of Gratuity Rules, 1972, stipulates that staff members become entitled to gratuity after completing five years of uninterrupted service with an…

Union Railways Minister Ashwini Vaishnaw NEW DELHI: IT & electronics minister Ashwini Vaishnaw on Thursday said that India should develop software products and added there have been efforts by local startups to develop an indigenous browser.“India has a strong IT sector with revenues of more than $282 billion. The focus so far was on services….

For weeks, the US economic picture has been darkening. If Wednesday was an opportunity for Federal Reserve chief Jerome Powell to raise the alarm, he took a hard pass. Speaking to reporters following a two-day meeting of policymakers, Powell downplayed mounting growth concerns and the price hits that could be on the way from President…

AESL, an Adani portfolio company, operates across various energy sectors including transmission, distribution, smart metering. Adani Energy Solutions Ltd (AESL) has secured a power transmission project in Gujarat that will facilitate the supply of green electrons for Green Hydrogen and Green Ammonia production in Mundra, Gujarat. The project, valued at Rs 2,800 crore, has a…

March 2025 bank holidays: With the financial year drawing to a close, people and businesses typically hasten to finalise their banking activities, including tax submissions, investment decisions and monetary settlements. Whilst many prefer conducting bank visits on Saturdays to avoid workday conflicts, it is essential to verify bank operating hours as per the Reserve Bank…