MUMBAI: The $136.4 billion raised by banks from non-residents and foreign lenders, then swapped with RBI, has swelled India’s foreign-exchange reserves by a record $44.9 billion to $785.7 billion in the week ended Sept 4. The windfall gives RBI a larger war chest to defend the rupee, but creates a problem at home with too…
Clubbing of income is a provision under the Income Tax Act. Can a minor child’s interest income lead to an income tax notice for the father? The Income Tax Appellate Tribunal (ITAT) Delhi has held that a father cannot be subjected to a Rs 12.83 lakh penalty under Section 270A when the income declared in…
MUMBAI: In one of the busiest weeks for the primary market in recent times, six mainboard IPOs closed on Friday, along with three on SME platforms of the two bourses. The nine primary offers together saw total demand worth about Rs 1.4 lakh crore against a mobilisation target of about Rs 3,100 crore, bidding data…
BENGALURU: Boardroom turmoil at Coforge has deepened with independent director and Nomination and Remuneration Committee (NRC) chair DK Singh resigning days after chairman OP Bhatt stepped down amid an internal audit that flagged concerns over how board-evaluation findings were presented to directors.Singh resigned with immediate effect, citing “differences and tension” between independent and executive directors…
Anthropic plans massive IPO Anthropic is planning what could be the biggest IPO in history, with the artificial intelligence giant looking to raise as much as $100 billion at a valuation of around $2 trillion. Nvidia is in talks to become a major early investor in the offering, according to two people familiar with the…
Canada’s tariff war with US is boosting local businesses The US and Canada are embroiled in a tariff war, and it may “will come at a cost” for Ottawa as the Canadian PM Mark Carney had warned. But the fight is proving a win for at rather unusual sectors: from the ice-cream counter and gift…
FM Sitharaman at Global Fintech Fest 2026 in Mumbai MUMBAI: Finance minister Nirmala Sitharaman called upon tech companies to promote a federated industry platform to give India’s technology sector a stronger collective voice in global markets and regulatory discussions.“There may be merit in considering a federated industry platform that brings together the broader Indian technology…
US diesel prices soar past $6 a gallon US farmers are facing a bigger fuel bill as diesel prices hit record highs just as the corn and soybean harvest gets underway, pushing up the cost of running combines, tractors and trucks. The national average price of diesel reached $5.85 a gallon on September 4, the…
MUMBAI: Whether AI will get us all killed by the end of the decade is still a matter of debate, but funding into artificial intelligence continues to soar.In fact, it is only getting bigger. Global AI funding touched a whopping $226 billion in the March quarter this year. That’s almost 80% of all global equity…
MUMBAI: India’s retail credit market is showing a widening gap between the number of borrowers being added and the value of loans being accumulated, with consumer durable loans driving new borrower acquisition, while home and gold loans account for much of the portfolio growth.According to credit bureau CRIF’s ‘How India Lends’ report, gold loan outstandings…