Mumbai: The continuous cheque clearing system that came into effect earlier this month was meant to clear cheques within hours. This was to be achieved by banks scanning and sending images of presented cheques for clearing. However, teething troubles have resulted in a high number of rejections, causing cheques to sometimes take over a week…
Bengaluru: Tech Mahindra reported a 1.6% sequential revenue growth in constant currency in the Sept quarter but saw a 0.3% declineas compared to the corresponding period last year. In dollar terms, its revenue increased by 1.4% sequentially to $1.5 billion but declined by 0.2% year-on-year. TNN Source link
BENGALURU: Infosys won a 1.2-billion-pound ($1.6 billion), 15-year contract from the NHS Business Services Authority (NHSBSA). The NHSBSA is a body of the UK’s department of health & social care and provides a range of critical central services to NHS organisations, NHS contractors, patients, and the public.Infosys will develop a data-driven workforce management solution that…
LG India MD Hong Ju Jeon (Screengrab-PTI) LG Electronics India made a striking debut on the National Stock Exchange (NSE) and BSE on Tuesday, but it was managing director Hong Ju Jeon’s decision to deliver his entire speech in Hindi that stole the spotlight.Jeon, who took charge as MD of LG Electronics India in January…
Federal Reserve Chair Jerome Powell warned on Tuesday that the sharp slowdown in US hiring poses increasing risks to the economy, suggesting the central bank may reduce its key interest rate two more times before the year ends.In written remarks ahead of a meeting of the National Association of Business Economics in Philadelphia, Powell noted…
The Indian rupee fell 13 paise to close at an all-time low of 88.81 against the US dollar on Tuesday, pressured by weak domestic equities and a firm dollar amid global risk-off sentiment, according to market sources.Forex traders said foreign fund outflows amid risk-averse global conditions further dented investor sentiment. However, a drop in crude…
Public sector banks have demonstrated stronger performance and resilience recently, with credit growth surpassing that of private banks, Financial Services Secretary M Nagaraju said on Tuesday. He attributed the trend to improved due diligence, enhanced credit underwriting standards, and better monitoring of project loans.Speaking at the inauguration of Punjab & Sind Bank’s MSME Sports Cluster…
Federal Reserve Chair Jerome Powell warned on Tuesday that the sharp slowdown in US hiring poses increasing risks to the economy, suggesting the central bank may reduce its key interest rate two more times before the year ends.In written remarks ahead of a meeting of the National Association of Business Economics in Philadelphia, Powell noted…
Gold and silver are expected to maintain strong momentum in the coming months, driven by robust central bank demand, shifts in US monetary policy, and supply constraints, according to Nilesh Shah, Managing Director of Kotak Asset Management Company (AMC).Shah highlighted that central bank purchases, both in gold and potentially silver, remain a key driver for…
LG IPO performance stands as the most impressive among Indian offerings exceeding one billion dollars since 2021. (AI image) LG Electronics India on Tuesday had a stellar listing on the stock exchanges NSE and BSE, debuting at a whopping premium of 50% above its share price issue. Trading commenced at Rs 1,715 on BSE and…
