Business
Govt moves bill to decriminalise laws for businesses, individuals
An overhaul of the 153-year-old Cattle Trespass Act will decriminalise key offences, replace jail terms with financial penalties and route collected fines to animal welfare. The definition of cattle, so far limited to bovines, is being expanded to include camels, buffaloes, horses, pigs, sheep and goats. Govt has proposed to reduce the jail term for
Business
Centre, oil companies to split impact of higher crude
For the moment, it has managed to ensure that consumers are fully protected as the oil retailers and govt will split the burden of higher crude prices. For the oil marketing companies (OMCs), which will have to take a hit during the March quarter, the impact will not be significant if the Indian basket remains
Business
Credit-deposit ratio of banks touches a record 83%
Credit growth outpaced deposit mobilisation through the current financial year, with incremental credit at Rs 25.3 lakh crore exceeding incremental deposits of Rs 24.3 lakh crore. As a result, the incremental credit-deposit ratio stood at 103.9%. Historically, an 80% credit-deposit ratio is seen as healthy as it factors in the 3% of bank deposits that
Business
1 month on, Iran war leaves investors poorer by Rs 41.4 lakh crore
The sell-off left investors poorer by nearly Rs 9 lakh crore with BSE’s market capitalisation now at Rs 422.2 lakh crore, exchange data showed.Foreign funds were again the main sellers of stocks with the net outflow figure at Rs 4,367 crore, BSE data showed. Since the war between the US-Israel and Iran started, the sensex
Business
Steel, auto, chemicals to gain from more LPG flow
Pankaj Chadha, chairman of engineering exports body EEPC India, said the measure will help steel mills, particularly smaller units, maintain production. “Steel is a key segment of the engineering goods sector, and its shortage could severely impact the production chain. The additional LPG allocation should minimise supply bottlenecks and ensure steady output,” he added.
Business
Rupee breaches 94, worst fiscal year fall in over a decade
Many analysts are forecasting that oil prices will remain above $100 per barrel for several weeks, pushing up the import bill and inflation. Dealers said that pressure on the rupee has been driven more by heavy foreign investor selloffs than by the West Asia conflict, with outflows crossing $13 billion this month, an all-time high.
