Daily Excelsior News

JERUSALEM, Jan 5: Amid deepening strategic ties and discussions around Free Trade Agreement (FTA) between India and Israel gaining momentum, the State Bank of India (SBI), the only Indian bank with a presence in Israel, is looking to facilitate bilateral trade in Indian rupees. In view of Indias significant trade flows from/to its partner countries and growing interest among the global trading community to trade in the Indian rupee, it has been envisaged by our banking regulators, i.e. Reserve B

NEW DELHI, Jan 4: Electric vehicle (EV) penetration in the luxury car segment has seen a drop by nearly 3 percentage points in the GST 2.0 era with the internal combustion engine versions offering better total cost of ownership, according to industry players. While the trend is also visible in the mass market segment, it is the entry luxury segment that is witnessing a more marked shift towards internal combustion engine (ICE) vehicles as price difference between EV and [] The post EV penetrati

NEW DELHI, Jan 3 : Mining giant Vedanta Ltd on Saturday said it has reported a rise in production of aluminium, zinc and iron ore during the December quarter. However, production of steel, and oil and gas dropped during the third quarter of the current fiscal year. The companys total aluminium production during the quarter rose marginally by 1 per cent, mined metal production at Zinc India increased 4 per cent, and mined metal production at Zinc International rose 28 [] The post Vedanta Q3 produ

NEW DELHI, Jan 3: The Transport Ministry has proposed assigning Aadhaar-like unique identification number to EV batteries to ensure their end-to-end traceability and efficient recycling. The proposed framework will make it mandatory for battery producer or importer to assign a 21-character Battery Pack Aadhaar Number (BPAN) to batteries, as per the draft guidelines issued by the ministry. They will also have to upload the relevant Battery Pack Dynamic data on the official portal of BPAN. The bat

New Delhi, Jan 2: The collection of enumeration forms from electors in urban areas was much less as compared to rural areas in the ongoing Special Intensive Revision (SIR) of voters list in nine states and three Union territories, EC officials said on Friday citing available trends. They said most likely reason for electors not returning filled up enumeration forms is that electors are not available at home due to work or professional commitments. Constant migration was seen as anther [] The pos

NEW DELHI, Jan 2: Shares of cigarette and tobacco product makers ITC, Godfrey Phillips and VST Industries dropped on Friday morning, extending their previous days decline, after the government imposed an additional excise duty on such products effective February 1. ITCs stock tumbled 5.11 per cent to Rs 345.35 its 52-week low on the BSE. The stock of Godfrey Phillips India declined 4.58 per cent to Rs 2,184.60. Shares of VST Industries also dipped by 2.56 per [] The post Tobacco stocks contin

NEW DELHI, Jan 2:The Federation of All India Farmer Associations (FAIFA) on Friday said the governments move to levy additional excise duty on tobacco products will hurt farmers income and exacerbate smuggling in a market already grappling with illicit trade. The finance ministry last month notified excise duties of Rs 2,050-8,500 per 1,000 cigarette sticks depending on length, effective February 1, under the Chewing Tobacco, Jarda Scented Tobacco and Gutkha Packing Machines (Capacity Determina

NEW DELHI, Dec 29: Prime Minister Narendra Modi will meet eminent economists and sectoral experts on Tuesday to seek their views on the upcoming Budget, a senior government official said. Finance Minister Nirmala Sitharaman is likely to present the Union Budget for 2026-27 on February 1. She will present the Budget against a backdrop of geopolitical uncertainties and a steep 50 per cent US tariff on shipments from India. Besides economists and sectoral experts, Niti Aayog Vice Chairman Suman Ber

NEW DELHI, Dec 28: Adani Group plans to invest Rs 1.8 lakh crore next year in defence manufacturing, with a focus on strengthening capabilities in unmanned and autonomous systems as well as advanced guided weapons as it looks to play a stealth anchor role in Indias future warfare capabilities, sources said. Adani Defence & Aerospace in 2025 transitioned from extended planning cycles to rapid deployment with some of its military hardware being used in Operation Sindoor. Next year, it [] The post

NEW DELHI, Dec 28:Power regulator Central Electricity Regulatory Commission is considering rationalising transaction fees on power trading exchanges, which aims to potentially lower electricity prices as the power sector gears up for market coupling. The development came as the power regulator moves ahead with market coupling, a reform expected to improve efficiency, deepen liquidity and promote price convergence across exchanges. The move could lead to a reduction in the overall cost of power

New Delhi, Dec 22: Gold and silver prices surged to hit fresh lifetime highs in both domestic and international markets on Monday, driven by a weak US dollar and growing expectations of rate cuts by the US Federal Reserve. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 1,628, or 1.21 per cent, to a new record of Rs 1,35,824 per 10 grams. The yellow metal had gained Rs 574, or 0.43 per cent, during the [] The post Gold, Silver Futures Hit Fresh Peaks On Fed C

New Delhi, Dec 20: The Enforcement Directorate on Saturday said the RBI had issued a compounding order for Genpact India, against a one-time payment, resulting in termination of a FEMA against the technology major. The agency had filed a complaint against the company in October 2018 for alleged contravention of the Foreign Exchange Management Act (FEMA) to the tune of about Rs 26 crore. It issued a show cause notice to the firm and its directors in the same month [] The post RBI has allowed comp

Mumbai, Sep 22: Equity benchmark indices Sensex and Nifty dropped in early trade on Monday, dragged by IT stocks amid concerns over the US President Donald Trumps decision to raise H-1B visa fees to USD 1,00,000 per worker. The 30-share BSE Sensex dropped 475.16 points to 82,151.07 in opening trade. The 50-share NSE Nifty declined 88.95 points to 25,238.10. From the Sensex firms, Tech Mahindra, Infosys, HCL Tech and Tata Consultancy Services were trading lower in the range of 3.88 [] The post St