Business Archives - Page 27 of 34

08 Jul

UAE Launches Rs 23 Lakh Golden Visa Route for Indians – No Property or Trade Licence Required

Rajeev Sharma0 CommentsBusiness, India, Trending, World NewsGolden Visa, UAE

New Delhi/Dubai (National Times): In a major policy shift aimed at deepening bilateral ties and attracting Indian talent, the United Arab Emirates (UAE) has launched a new nomination-based Golden Visa route for Indian nationals, offering lifetime residency for a one-time fee of AED 100,000 (approx. Rs 23.3 lakh), no investment in real estate or trade licence required. This move marks a dramatic departure from the UAE’s earlier Golden Visa rules, which required at least AED 2 million in real estate or a significant business investment to qualify. The new pathway now opens the door for a wider range of Indian…

07 Jul

Banks Waive Minimum Balance Rule as Customers Shift Funds Elsewhere, Says Chidambaram

Rajeev Sharma0 CommentsBusinessbank penalties, minimum balance rule, P Chidambaram, RBI guidelines, savings accounts

New Delhi, July 7, 2025: Former Finance Minister and senior Congress leader P. Chidambaram on Monday lauded a consumer-driven shift that has forced at least five banks to waive the controversial minimum balance requirement on savings accounts. He noted that while reason had failed to sway banks, market economics had finally succeeded.In a post on X, Chidambaram criticized the "obnoxious" minimum balance rule, stating that several banks had profited by penalizing customers who failed to maintain a minimum balance. “Some banks earned hundreds of crores of rupees a year under this obnoxious rule,” he wrote, emphasizing that banks had long…

07 Jul

High-level review held to fast-track infrastructure projects worth Rs 36,296 crore in Gujarat and Rajasthan

Rajeev Sharma0 CommentsBusiness, India, TrendingGujarat, India, Rajasthan

New Delhi (National Times): A high-level meeting was convened on 03.07.2025 to review key issues impacting major infrastructure projects in Gujarat and Rajasthan, with a focus on resolving bottlenecks through the Project Monitoring Group (PMG) mechanism. A total of 22 issues related to 18 critical projects—collectively valued at over ₹36,296 crore—were taken up for discussion. Among the major initiatives discussed was the Transmission System Strengthening Scheme for evacuation of power from solar energy zones in Rajasthan and Gujarat, with a projected investment of ₹14,147 crore. The scheme aims to facilitate seamless integration of renewable energy into the national grid by…

07 Jul

Chandigarh State Cooperative Bank Announces 85% Job Quota for Chandigarh Residents

Gurpreet Singh0 CommentsBusiness, Punjab, TrendingChandigarh

Chandigarh (National Times): The Chandigarh State Cooperative Bank Limited has taken a significant decision to benefit the youth of Chandigarh. A meeting was held under the chairmanship of Sh. Satinderpal Singh Sidhu, Chairman, Chandigarh State Cooperative Bank. Present during the meeting were Smt. Anuradha Chagti, Managing Director of The Chandigarh State Cooperative Bank Limited, Chandigarh; Sh. Naveen Rattu, SDM Central; and other senior officials. During the meeting it was decided that the Board of Directors resolved to reserve 85% of jobs in the bank for Chandigarh residents.Out of this 85% quota, 15% of posts will be specifically earmarked for the…

05 Jul

Domestic Gold Prices May Touch ₹1 Lakh Mark in H2 2025: ICICI Bank Report

Rajeev Sharma0 CommentsBusinessgold ETF inflows, gold imports, Gold prices India, ICICI Bank

New Delhi, July 5 — Local gold prices in India are expected to maintain an upward bias in the second half of 2025, potentially breaching the psychologically significant ₹1,00,000 per 10 grams mark, according to a report released by ICICI Bank Global Markets.Domestic prices, which currently hover in the range of ₹96,500–₹98,500 per 10 grams, rose 0.6 per cent in June despite a broader global trend of stable prices. The uptick was attributed in part to a modest depreciation of the Indian rupee by 0.2 per cent during the month.“Local gold prices are expected to continue trading with an upside…

05 Jul

Nehal Modi Arrested in US, Extradition to India Underway in Rs 13,000 Crore PNB Scam Case

Rajeev Sharma0 CommentsBusiness, India, TrendingNehal Modi

New Delhi/Washington (National Times): In a major development in the ongoing probe into the Rs 13,000 crore Punjab National Bank (PNB) fraud, Nehal Modi, brother of fugitive businessman Nirav Modi, has been arrested in the United States following an extradition request by Indian authorities. The arrest, confirmed by officials from India’s Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), was carried out after U.S. law enforcement authorities accepted India’s formal request seeking his custody in connection with money laundering and conspiracy charges. Nehal Modi has long been accused of playing a key role in helping Nirav Modi escape India…

02 Jul

Cab Fares May Double in Peak Hours Under New Govt Rules; Stricter Safety Norms for Aggregators

Rajeev Sharma0 CommentsBusinesscab fares, Motor Vehicles Aggregator Guidelines 2025, Ola, Rapido, Uber

New Delhi, July 2: Passengers booking cabs through apps like Uber, Ola and Rapido could soon pay up to twice the base fare during rush hours, as the Ministry of Road Transport and Highways has unveiled new guidelines allowing higher dynamic pricing and stricter safety measures for aggregators.The “Motor Vehicles Aggregator Guidelines 2025,” released by the ministry, permit aggregators to charge between half and twice the base fare, a shift from the current ceiling of 1.5 times. The base fare itself will apply for a minimum of three kilometres to account for “dead mileage”—the distance drivers travel without passengers and…

01 Jul

Punjab to Borrow Rs 8,500 Crore in July-September Quarter; State’s Debt May Cross Rs 4 Lakh Crore by FY 2025-26

Gurpreet Singh0 CommentsBusiness, Punjab, TrendingPunjab

Chandigarh (National Times): The Punjab government plans to borrow a total of Rs 8,500 crore over the next three months, from July to September 2025, following approval from the Reserve Bank of India (RBI). The move comes amid concerns over the state’s mounting debt, which has already reached Rs 3.82 lakh crore as of March 31, 2025, amounting to more than 44% of the state's Gross Domestic Product (GDP). Officials estimate that by March 31, 2026, the total debt burden could exceed Rs 4 lakh crore, which translates to a debt of over Rs 1.25 lakh per person in Punjab.…

01 Jul

Commercial LPG Cylinder Price Cut by Rs 58.50 from July 1; No Change in Domestic Rates

Rajeev Sharma0 CommentsBusiness, India, TrendingCylinder Price

New Delhi (National Times): In a welcome move for the commercial sector, oil marketing companies have reduced the price of 19-kg commercial LPG gas cylinders by Rs 58.50 with effect from Tuesday, July 1. The revision offers relief to hotels, restaurants, and businesses that rely on commercial gas cylinders for daily operations. With the latest price cut, the retail price of a 19-kg commercial LPG cylinder in Delhi now stands at Rs 1,665, down from Rs 1,723.50. The revised rates vary across other major cities, with prices now at Rs 1,616 in Mumbai, Rs 1,769 in Kolkata, and Rs 1,823.50…

30 Jun

Indian Economy Stays Robust Amid Global Uncertainty, Says RBI

Rajeev Sharma0 CommentsBusinessFinancial Stability Report, Indian economy, Reserve Bank of India

New Delhi, June 30, 2025 — The Indian economy continues to stand out as a key driver of global growth, buoyed by strong macroeconomic fundamentals and prudent policy measures, the Reserve Bank of India (RBI) stated on Monday in its bi-annual Financial Stability Report (FSR).Despite heightened global economic and trade policy uncertainties, which have put the resilience of the world economy and financial systems to the test, India’s financial sector remains stable, the central bank said.“Financial markets remain volatile, especially core government bond markets, driven by shifting policy and geopolitical environment. Alongside, existing vulnerabilities such as soaring public debt levels…