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The pace of employment generation in India's manufacturing sector slowed down to a three-year low in 2023-24 (Apr-Mar), along with a slower pace of rise in average wages, according to the Annual Survey of Industries, the results of which were released by the statistics ministry on Wednesday. Read more
The issue of payment of charges for Unified Payment Interface transactions will evolve at some point, according to Bank of Baroda Managing Director and Chief Executive Officer Debadatta Chand. "UPI is really a game-changer as far as the payment system is concerned. It has really changed the entire payment ecosystem in the country. So, the issue (of UPI charges) will possibly evolve at some point of time," Chand Tuesday said at FIBAC 2025, organised by the Federation of Indian Chambers of Commerce and Industry and the Indian Banks Association. Read more
By Shubham Rana
India's industrial output growth picked up pace in July because of the improved performance of the manufacturing sector, with the Index of Industrial Production seen at a three-month high of 2.0% in July, according to an Informist poll of 11 economists. Read more
By Priyasmita Dutta and Sagar Sen
The National Bank for Financing Infrastructure and Development is planning to sanction loans to the tune of INR 1 trillion in 2025-26 (Apr-Mar) and may raise INR 500 billion through a mix of term loans, domestic debt market borrowing and external commercial borrowing to fund it, the infrastructure financier's senior management said Tuesday. "Our disbursements may be around INR 600 billion, so that much (INR 500 billion) borrowing will be adequate," its Deputy Managing Director Monika Kalia said. Read more
Central Bank of India is using a generative artificial intelligence-led service model to enhance skills of its employees to increase productivity and improve customer experience, Executive Director Mahendra Dohare said at FIBAC 2025, organised jointly by the Federation of Indian Chambers of Commerce & Industry and the Indian Banks' Association. Read more
By Priyasmita Dutta
State-owned Canara Bank is planning to tap the market to raise INR 10 billion to INR 15 billion through additional tier-1 bonds in the current quarter ending September, its Executive Director S.K. Majumdar said Tuesday. "We are discussing the matter, we will definitely raise funds by September to maintain our capital," Majumdar told Informist on the sidelines of FIBAC 2025, organised by the Federation of Indian Chambers of Commerce and Industry and the Indian Banks Association. Read more
By Rajesh Gajra
The June quarter earnings of basic industries companies that are a part of the Nifty 200 surpassed analyst estimates on both revenue and net profit on an aggregate basis. The sector companies also surpassed the Street view on both revenue and net profit for the broader index Nifty 200 companies. Read more
By Anand JC
Automobile and automobile component makers' aggregate bottom line contracted year-on-year for the fourth consecutive quarter in the June quarter and missed analysts' expectations. The June quarter, which is traditionally a weak quarter for automobile companies, saw key metrics come under even more pressure due to disappointing sales, analysts said. Register to read more
By Anjana Therese Antony
The ripple effect of the US tariff flip-flops was seen in the June quarter earnings performance of India's top listed information technology companies. US clients of Indian IT companies reported strong financial growth for the quarter but remain nervous about the uncertainty over tariffs and are keeping their budgets tight, broking firms said. However, the relief for IT companies is that demand has not deteriorated as sharply as was expected at the start of the June quarter. Also, as has become routine, mid-cap IT players outperformed their larger peers for the 17th quarter in a row. Read more