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India expects rainfall in the biggest coal-producing areas of its east-central region to be below the long-term average this year, potentially easing utilities' coal shortages as there could be fewer disruptions to mining activity due to flooding. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/enpqxYk

State-owned Life Insurance Corporation of India (LIC) on Tuesday said the exercise of determining its embedded value as on March 2022 is a "work in progress" and is likely to be completed by the end of next month. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/haxWNs5

The pandemic has changed consumer behaviour and even in agarbattis, there is a shift towards products that offer medical benefits. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tXQ6rjK

Second-hand goods — be it antique watches, books, jewellery or for that matter even paintings — fall within the ambit of the goods and services tax (GST). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i0Zb1d3

A few HDFC Bank account holders in the city became rich for a few hours on Sunday after their bank balances shot up by lakhs and even crores in certain cases. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OnqHs21

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Life Insurance Corporation of India has reported a profit of Rs 2,372 crore for the quarter ended March 2022 — a decline of 18% over Rs 2,896 crore in the corresponding quarter of previous year due to a lower transfer to shareholder accounts from policyholders’ funds. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PReTXS3

The government will soon finalise a consultation paper on cryptocurrencies with inputs from various stakeholders and institutions, including the World Bank and the IMF, economic affairs secretary Ajay Seth said on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Po7ITwh

After green energy, the Ambani and Adani Groups are now in the race to become number one in yet another field - civilian-use drones. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ADbaoJl

Union Bank of India aims to bring down the government’s stake in the lender to around 75% from 83% by raising fresh equity capital. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/G5S8qsF

The government and the Insolvency & Bankruptcy Board of India (IBBI) have worked out a mechanism to share data on companies facing insolvency action as the customs and GST wings repeatedly miss the deadline for filing claims, resulting in prolonged litigation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OZbvBxY

General Insurance Corporation (GIC Re) plans to upscale its branch in the International Finance Centre at GIFT City, Ahmedabad into a subsidiary. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7f3yzuB

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State-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India's second most profitable company behind Reliance Industries Ltd. In a statement, ONGC said net profit for the fiscal FY22 (April 2021 to March 2022) soared 258 per cent to Rs 40,305.74 crore from Rs 11,246.44 crore in the previous financial year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3xcF0XR

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On the back of the best-ever price it earned on crude oil it produces, state-owned Oil and Natural Gas Corporation (ONGC) reported a record net profit of Rs 40,305 crore in the fiscal year ended March 31, becoming India's second most profitable company behind Reliance Industries Ltd. ONGC pushed Tata Steel to No.3 spot, while TCS is at No.4. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/izOYLvu

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Civil aviation regulator DGCA has fined private carrier IndiGo Rs 5 lakh for "deficient" handling of a special child who wasn't allowed by the airline's ground staff at Ranchi airport to board a Hyderabad-bound flight with his parents on May 7, following which the family couldn't make the trip and later filed a complaint. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GQncrpw

The government on Saturday said it will develop a framework to keep a check on fake reviews posted on e-commerce websites to protect consumer interest. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OsPk5Hi

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The Gautam Adani-led Adani Enterprises will buy 50% in General Aeronautics, a Bengaluru-based drone maker, for an undisclosed sum. M&A activity in the futuristic drone industry is on an upward curve. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mTZwhyF

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Defending the right of restaurants to levy service charge, the Federation of Hotels and Restaurants Association of India on Friday said it will participate in the meeting called by the department of consumer affairs (DoCA) on the issue on June 2. The DoCA discussion follows complaints by customers on the National Consumer Helpline that restaurants impose 5-15% service charge even though it is different from taxes and is in the nature of a tip. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/zPVvjxC

India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening risks of widespread power outages. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YXbMw3h

State-owned Oil India Ltd on Friday reported its highest-ever quarterly net profit in the three months to March as it got nearly $100 per barrel price for oil produced and sold. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ra2ncdD

The department of investment and public asset management (Dipam) had invited bids globally on March 7, 2020 for the privatisation of BPCL, but was forced to extend the date for submitting the initial bids multiple times due to the impact of the pandemic as potential bidders faced hurdles due to the lockdowns across the globe. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7f0RYXq

Infosys has raised CEO Salil Parekh's compensation by a massive 88% to Rs 79.8 crore (more than $10 million), a reward for the industry-leading performance of the company, and the phenomenal increase in shareholder value during his tenure. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/z4nc1bl

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India does not plan to curb rice exports as the world's biggest exporter of the staple has sufficient stocks and local rates are lower than state-set support prices, trade and government sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/k8N9wq0

India has asked power producers to bill electricity buyers every week to ensure adequate cash flow as costs surge due to higher imports of expensive coal, according to a federal power ministry letter seen by Reuters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iCu1Vfh

Upcoming release of official data for economic performance is likely to register a 2.7 per cent growth for the January-March period, and the FY22 growth is expected to be 8.5 per cent, economists at SBI said on Thursday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/f5Z7yD4

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A new paper based on insurance policy claims data estimates 0.56 million excess deaths in India in 2020 and 4.15 million excess deaths in 2021, or a total of 4.71 million excess deaths in the pandemic years. The calculations in the paper are based on death claims settled by all life insurers as reported by the Insurance Regulatory and Development Authority till March 2021, death claims settled by LIC in April-December 2021, and CRS data on death registration in India during 2017-20. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/k0bYJMK

Inflation may take a toll on GST rate rationalisation as the Centre and the states may find it prudent to postpone a decision until prices stabilise given that the rejig may see the levy on several items go up, government sources indicated on Wednesday. While a group of state finance ministers has been constituted to look into the issue, it is yet to support the move and the GST Council is unlikely to meet until the second half of June. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xDFBNwi

State discoms ( power distribution companies) will save Rs 19,833 crore on late fee in the next 12 to 48 months from an surcharge-free instalment scheme being rolled out by the power ministry to help them clear their accumulated dues to gencos (generation companies), a major drag on the sector. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Dd5v3iO

The Union Cabinet on Wednesday approved the sale of the government's residual 29.58 per cent stake in Hindustan Zinc, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GFM7XjR

Is the job market moving from the `Great Resignation’ phase to a `Great Layoff’ phase? There are signs of this in the startup world, though not yet in the broader tech world. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PbuFHqL

State-run Coal India will open this year what is expected to become one of the country's biggest coal mines, officials said, as India struggles to keep pace with surging power demand. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jyMZYVQ

The government on Tuesday announced a curb on export of sugar beyond 100 lakh tonnes (MTs) during this sugar season ending September. The government said this has been done considering the high increase in exports of the sweetener in the past few months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w6U5Xbo

Tata Steel is concerned New Delhi's sudden decision to impose an export tax on some steel products could force it to review its production targets, if the levy remains in place for a long time, its CEO told Reuters on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nqY7RhG

Amid a crushing coal crunch, India’s largest electricity producer NTPC is looking at ramping up Black Diamond production by 86% to 26 million tonnes (mt) from its captive mines in the current financial year, even as the power ministry has raised the requirement of domestic coal for the sector by 10% to 742 millions tonnes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/im509Nj

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The government is likely to stick to its fiscal deficit target as specified in the budget and there may not necessarily be a need for increasing government borrowing just yet, governor Shaktikanta Das told CNBC-TV18 in an interview on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LmHtg0I

Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QUoIG6t

The increase in export taxes on iron ore, announced by the government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets, a mining industry body said on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dDXrRqC

Prime Minister Narendra Modi and SoftBank Group founder Masayoshi Son met on Monday to discuss more investments by the country's biggest tech backer, as a startup boom appears to cool in India amid worries about the global economy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pVkDFGC