Puneet Gupta, Managing Director, NetApp India/SAARC | Photo Credit: Special arrangement NetApp, a data infrastructure firm, saidsecurity risks and IT costs will not impede its growth and expects its India operations to be the largest in the Asia-Pacific region in five years. The San Jose-based firm posted global revenues of $6.5 billion last year, 20%…
State Bank of India Chairman Dinesh Kumar Khara. File | Photo Credit: The Hindu State Bank of India Chairman Dinesh Kumar Khara has pitched for tax relief on interest income, saying it would help banks to garner savings that could be used for funding long-term infra projects. Currently, banks are required to deduct tax when…
A Kansas businessman shipped banned avionics equipment to Russia through Armenia, the UAE and other third countries. A French firm falsified documents to help unscrupulous European exporters circumvent sanctions. Despite more than two years of Western punitive measures, Russia is still getting its hands on prohibited goods, with the help of cunning businesses that go…
Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70% in 2023 to a four-year low of 1.04 billion Swiss Francs (₹9,771 crore), annual data from Switzerland’s central bank showed on Thursday. The decline in aggregate funds of Indian clients with Swiss banks…
Income tax relief for the middle class to boost consumption, a rethink of the mandatory 45-day payment deadline for micro and small enterprises, restructuring of GST rates, measures to promote exports and simplify IT imports, were some of the ideas presented by industry leaders to Finance Minister Nirmala Sitharaman in pre-Budget consultations held on Thursday….
The coal stock held by coal companies witnessed a surge by June 30, reaching 95.02 MT. File | Photo Credit: G.N. Rao The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last fiscal, according to provisional figures of the government. In…
The Insolvency and Bankruptcy Board of India (IBBI) has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process (CIRP), and benefiting creditors and other…
Photo used for representation purpose only. | Photo Credit: Reuters The RBI on July 2 proposed rationalising regulations that cover export and import transactions with an aim to promote ease of doing business and empower banks to provide more efficient service to their foreign exchange customers. The central bank has issued ‘Regulation of Foreign Trade…
Image used for representational purpose. | Photo Credit: Reuters Business activity in India expanded at a faster clip this month from May thanks to gains in manufacturing and services, according to a business survey that also showed the pace of job creation was at its strongest in over 18 years. Robust gains in both sectors…
Image used for representative purpose only. | Photo Credit: Levin Raju The government on June 21 imposed stock limits on tur and chana dals till September this year to check hoardings and control prices. The Centre has issued an order imposing stock limits, which will be applicable to wholesalers, retailers, big chain retailers, millers and…
