NEW DELHI: Public sector banks recruited 50,552 employees in the last financial year, 33% higher than 37,860 hired in the previous financial year, as they expanded their operations.In a statement, the finance ministry said that offer letters were sent to over 50,000 candidates in 2025-26 after the recruitment exercise conducted through the Institute of Banking…
The windfall tax was introduced to ensure that adequate domestic supplies of petroleum products remain available. (AI image) The windfall tax on exports of diesel and aviation turbine fuel (ATF) has been lowered effective May 1, 2026. The excise duty on petrol and diesel sold in the domestic market will remain unchanged. The levy on…
MUMBAI: Bombay high court on Thursday quashed and set aside a show cause notice issued in 2022 to Tata Sons for a demand of Rs 1,524 crore as Integrated Goods and Service Tax (IGST).Justices Girish Kulkarni and Aarti Sathe on Thursday also agreed with Tata Sons that following the final settlement in 2017, Docomo’s withdrawal…
BENGALURU: Amazon’s quick commerce push in India is gaining early traction, with orders on its Amazon Now service growing about 25% month on month, chief executive Andy Jassy said during an analyst call, as the company ramps up investments in one of its fastest-growing markets. “We continue to expand our ultrafast delivery service, Amazon Now,…
MUMBAI: Federal Bank said it agreed to acquire a select credit card portfolio of around 4.5 lakh cards from Standard Chartered Bank, India, comprising customers with standalone card relationships. The transaction will strengthen Federal Bank’s retail strategy with a sharper push in the non-co-branded segment. and provide access to a seasoned, high-quality customer base. The…
The rupee hit a record low of 95.33 against the dollar on Thursday, driven by surging crude oil prices and concerns over inflation and capital flows. Suspected RBI intervention helped the currency recover to close at 94.91, though it remains under pressure. The outlook for the rupee is closely tied to the trajectory of global…
MUMBAI: Hindustan Unilever (HUL) has hiked prices by 2-5%, signalling more increases could be in the offing going ahead as the company copes with a 8-10% cost inflation on the back of the West Asia war that sent oil prices soaring, weighing on raw material costs for a host of consumer goods ranging from detergents…
Representative image (AI-generated) US President Donald Trump on Thursday announced that he would remove tariffs and restrictions on whiskey linked to trade between Scotland and the US state of Kentucky.In a post on Truth Social he wrote, “In Honor of the King and Queen of the United Kingdom, who have just left the White House,…
NEW DELHI: Monthly domestic urea production has rebounded to last year’s levels, fertiliser ministry said on Thursday, noting that output of the most widely used soil nutrient reached 21 lakh tonnes in April, which was the same as the level recorded a year earlier.In March, domestic urea output had tumbled to around 16 lakh tonnes…
NEW DELHI: With focus on building resilience in the shipping sector, amid the West Asia conflict and increased instances of global supply chain disruptions, govt will adopt a “structured tender” approach for manufacturing specialised vessels, such as gas and oil tankers, and fertiliser carriers. Under this, some vessels in the tender would be built overseas…