Buisiness

The government on Friday denied reports suggesting GST levying on UPI transactions exceeding Rs 2,000, calling such claims “completely false, misleading, and without any basis.”In an official statement, the finance ministry said, “Currently, there is no such proposal before the government,” dismissing concerns that had surfaced earlier.The ministry also clarifyed the tax framework, explaining that…

The rupee experienced its strongest weekly gain in a month, closing at 85.37 against the dollar, driven by increased foreign portfolio inflows into Indian equities. A persistently weak dollar and bullish sentiment towards emerging Asian currencies, including the rupee, further contributed to the currency’s rise. Markets were closed on Friday for Good Friday. MUMBAI: The…

Indian markets wrapped up the trading week on a high note, with benchmark indices BSE Sensex and Nifty50 registering gains of over 6 per cent in the last four sessions.This spike was fueled by a combination of returning foreign investment, eased inflation, and hopes for a favourable monsoon season that helped lift investor confidence.The BSE…

India’s foreign exchange reserves rose by $1.567 billion to reach $677.835 billion for the week ending April 11, the Reserve Bank of India said on Friday. The reserves have shown continuous growth for sixth consecutive week.The overall forex kitty witnessed an increase of $10.872 billion, reaching $676.268 billion in the previous reporting week ended April…

MUMBAI: Markets regulator Sebi is looking at ways to sort out issues relating to the initial public offering (IPO) of NSE, the largest stock exchange in India in terms of turnover. Sebi set up a committee to look into various issues related to NSE’s IPO, the regulator’s chairman Tuhin Kanta Pandey said on Thursday.The Sebi…

India’s growth of becoming a global powerhouse in the automobile industry is being slowed down by a lack of innovation, according to a new report by NITI Aayog.The report further noted that this drawback was mainly due to inadequate infrastructure in research and development as India’s spending on the sector remains among the lowest in…

NEW DELHI: National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by the BCCI and Byju’s board member Riju Raveendran, rejecting their request to withdraw insolvency proceedings and allow a settlement between debt-ridden edtech firm and the cricket board.The appellants had challenged the February 10, 2025 order by the Bengaluru bench of the National…

NEW DELHI: The United States has told the World Trade Organization (WTO) that its decision to impose tariffs on steel and aluminium imports was taken on national security grounds, not as a safeguard measure, a key distinction that challenges India’s formal complaint filed earlier this month.In a communication dated April 17, the US said the…

The US Equal Employment Opportunity Commission (EEOC) is investigating dozens of allegations that Tata Consultancy Services (TCS), India’s largest IT outsourcer, discriminated against its American workers based on age, race, and national origin. The claims primarily come from professionals over the age of 40, many of whom say they were targeted in layoffs while Indian…

Wallet refunds will take up to 90 days: BluSmart BENGALURU: Electric cab aggregatorBluSmart has pushed the timeline for refunding wallet balances to users to 90 days, up from six days earlier this week, amid a pause in ride bookings across cities where it operates.Several users have taken to social media to express concerns over the…