Economy

New Delhi:  Amid the rise in quick commerce, trend-first commerce and hyper-value commerce, India’s e-retail market is projected to reach $170-$190 billion in gross merchandise value (GMV) by 2030, a report showed on Thursday. The report highlighted India’s emergence as the second-largest e-retail shopper base globally, with an annual shopper base of over 270 million

Mumbai: Nestle India Limited on Wednesday announced that it has been hit with a tax penalty of Rs 69.45 lakh after the Appellate Authority upheld an earlier order issued under the Customs Act, 1962. The penalty arose from a customs duty dispute, as the company had initially appealed against the Deputy Commissioner of Customs’ decision.

Mumbai: The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country’s largest private sector lender, for not complying with directions in the RBI’s Know Your Customer (KYC) master direction, according to an official statement issued on Wednesday. After considering HDFC Bank’s reply to a showcause notice

New Delhi:  The Employees’ Provident Fund Organisation (EPFO) is likely to introduce a major change that will allow its members to withdraw their provident fund (PF) instantly through UPI and ATMs by the end of May or early June 2025. With this update, employees will no longer have to go through long and time-consuming procedures

Mumbai:  Reserve Bank Governor Sanjay Malhotra on Wednesday said that considering the evolving landscape of money laundering, regulators will need to continuously augment artificial intelligence (AI) and Machine Learning (ML) risk assessment framework to make appropriate system enhancements. Addressing the Financial Action Task Force (FATF) Private Sector Collaborative Forum 2025 event here, the RBI Governor

New Delhi:  India’s commercial airlines will operate 25,610 flights per week during the forthcoming summer season, a 5.5 per cent increase compared to the same period last year, the Directorate General of Civil Aviation (DGCA) said. The summer season for airlines this year runs from March 30 to October 25. The number of flights in

Bengaluru:  India’s overall retail sector is poised to become more than $1.6 trillion opportunity by 2030, offering immense headroom for sustained growth for the organised retail industry, according to a new report on Wednesday. While essential categories will continue to drive the majority of spending, discretionary spending is expected to lead the next wave of

New Delhi:  The recent amendments in priority sector lending (PSL) guidelines by the Reserve Bank of India (RBI) should further help the economy grow faster and fine tune the building blocks of the factors of productions, mainly the MSMEs, agri and allied sectors, housing and exports, etc, a report by SBI Research said on Wednesday.

Mumbai:  The domestic benchmark indices opened flat on Wednesday amid positive global cues, as buying was seen in the realty sector in the early trade. At around 9.29 am, Sensex was trading 78.19 points or 0.10 per cent up at 78,095.38 while the Nifty added 46.80 points or 0.20 per cent at 23,715.45. Nifty Bank

New Delhi:  Starting May 1, withdrawing cash from ATMs in India will become more expensive as the Reserve Bank of India (RBI) has approved an increase in ATM interchange fees. This means customers who rely on ATMs for their financial transactions will have to pay additional charges once they exceed their free transaction limit. An