Business

The finance ministry has directed public sector banks (PSBs) to ramp up lending to micro, small and medium enterprises (MSMEs) and the agriculture sector while maintaining healthy growth in low-cost deposits and ensuring strong risk management, according to an official statement issued on Wednesday.Chairing a performance review meeting with bank chiefs, Department of Financial Services…

India’s fast-growing Global Capability Centre (GCC) ecosystem — which already employs 1.9 million professionals — is set to create an additional 2.8 to 4 million jobs by FY30, according to a new report by TeamLease. But as expansion accelerates, the study warns, operators will face an increasingly complex regulatory and compliance environment, PTI reported.The report,…

American aerospace giant Boeing has downplayed concerns that India–US trade frictions could hit its operations, saying that tariff disputes have no bearing on its commercial or defence business in the country, ET reported.Salil Gupte, President of Boeing India, said the company continues to see India as a key market for growth and industrial partnership, even…

IT stocks rallied sharply on Wednesday, buoyed by investor optimism after US President Donald Trump said the United States “needed skilled workers from abroad,” a comment seen as a potential softening of his administration’s hardline immigration tone.The upbeat sentiment lifted Tech Mahindra, which surged 3.24%, followed by Mphasis (up 2.83%), LTIMindtree (up 2.63%), TCS (up…

Nasscom highlighted concerns about geographical and sector-based disparities in the new system proposed for H-1B visa issuance. (AI image) H-1B visa overhaul: Donald Trump administration’s proposed move to replace the lottery-based system for H-1B visas with a ‘wage-weighted’ system will be disruptive, Nasscom has warned. Nasscom, the IT industry body, has sharply criticised the US…

The initial public offering (IPO) of edtech unicorn PhysicsWallah drew a muted response on the second day of bidding, with only 10% subscription recorded so far. The Rs 3,480-crore IPO, which opened earlier this week, will close for bidding on November 13.According to data available on the National Stock Exchange (NSE) till 11:30 am on…

US President Trump indicated on Monday that he plans to lower tariffs on India in the future. (AI image) With US President Donald Trump hinting at a trade deal soon, Global Trade Research Initiative (GTRI) founder Ajay Srivastava says that India should push for rollback of 25% tariffs on account of Russian crude oil. Srivastava…

Near-term market direction will hinge on the ongoing earnings season and progress on the US–India trade discussions. Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Wednesday. While Nifty50 went above 25,800, BSE Sensex was up over 400 points. At 9:17 AM, Nifty50 was at 25,813.80, up 119…

The US Supreme Court had, once again, refused to order the Trump administration to provide full funding for the Supplemental Nutrition Assistance Program (Snap). Instead it has chosen to allow congress additional time to resolve the matter through a possible agreement tied to ending the government shutdown.In an order issued on Tuesday (local time), the…

MUMBAI: CarTrade Tech is weighing a potential acquisition of the automotive classifieds business of rival CarDekho. “….the company has been in discussions with Girnar Software (parent of CarDekho) regarding a potential consolidation opportunity in the new and used automotive classifieds businesses (CarDekho and BikeDekho) in India. These discussions are limited to the automotive classifieds businesses…