Business

Shares of private lender Bandhan Bank Ltd fell on September 25 after its chief audit executive resigned to "explore alternative opportunities".In a stock exchange filing on September 24, Bandhan Bank said chief audit executive Ravi Lahoti has resigned and his last working day at the bank will be December 21, 2024."Ravi Lahoti, Chief Audit Executive of the Bank, has decided to explore alternative opportunities and has accordingly tendered his resignation from the services of the Bank vide a letter dated September 23, 2024," Bandhan Bank said in a stock exchange filing.At 10:55 am on September 25, Bandhan Bank shares were trading lower by 1.3 per cent at Rs 205.06 per share.Lahoti said in his resignation letter, "I have worked in the internal audit and AML domain for over 20 years, includin...

Moody's Analytics on Tuesday said that normalising growth in India will impact the performance of the Asia Pacific (APAC) region in 2025, as the Indian economy is projected to grow at 6.5 per cent in 2025 from an estimated 7.1 percent in 2024."Inflation in developing Asia will slow to 5.1 percent in 2024 and 4.9 percent in 2025, with sluggish economic inflation in China a key factor. Weak domestic demand will push Chinese domestic growth to 4.7 percent in 2024, well behind the official 5 percent target. Growth will slow to 4.6 percent in 2025," Moody's Ratings subsidiary said."Normalising growth in India will also impact the sector's performance. After a strong post-pandemic recovery to 7.8 percent in 2023, Indian gross domestic product (GDP) growth will slow to 7.1 percent in 2024 and 6....

Public sector National Buildings Construction Company (NBCC) Ltd said its wholly-owned subsidiary HSCC (India) Ltd has received an order.HSCC India has received an order worth Rs 1,260 crore from the Ministry of Health and Family Welfare, Government of India for setting up All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar.The further scope of the order and execution timeline have not been specified by the company.Earlier this month, NBCC had signed a Memorandum of Understanding with cash-strapped MTNL Ltd to develop MTNL’s positive land block of around 13.88 acres in New Delhi. The project is said to be worth ₹1,600 crore.NBCC has approved the issue of bonus shares in the ratio of 1:2, which means shareholders will get one free share for every two shares held by them as ...

India's coal imports rose 40.56 percent to 25.23 million tonnes (MT) in July, according to data compiled by B2B e-commerce platform mjunction Services.The country's coal imports stood at 17.95 MT in the same month last fiscal.Coal imports also increased to 100.48 MT in the April-July period of the current fiscal year from 89.11 MT a year ago.Mjunction Managing Director and CEO Vinay Verma said that import demand is expected to pick up in the coming weeks ahead of the festive season next month."Non-coking coal imports witnessed a increase due to softening of prices in the seaborne market. However, coking coal volumes declined due to weak demand from steel mills," Mjunction Services said.The share of non-coking coal in total imports in July was 16.52 MT, as against 10.16 MT imported in the ...

The decline in employee headcount is not just limited to the IT sector. Public sector undertakings (PSUs) have also seen a decline in headcount in the last few years. All but four of the top 16 government-owned companies by market capitalisation have seen a decline in their headcount during FY24.A CNBC-TV18 analysis shows that 12 PSUs, including Coal India, State Bank of India (SBI) and Hindustan Aeronautics Limited (HAL), have cut their workforce by 23,306 in FY24 after cutting at the same level in FY23.The biggest decline in the number of employees was seen in Coal India, where 4% to 5% of its workers retire every year. The country's largest coal producer recorded a net reduction of 10,349 in the number of employees during the year.Its employee strength had declined by 9,340 in FY23. Th...

Retail inflation for agricultural workers and rural labourers declined to 5.96 percent and 6.08 percent, respectively, in August, from 6.17 percent and 6.20 percent in July this year.The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) recorded a rise of 7 points each in August 2024, reaching the levels of 1297 and 1309, respectively.The CPI-AL and CPI-RL in July were 1290 points and 1302 points, respectively.A labour ministry statement said that, "The year-on-year inflation rates based on CPI-AL and CPIRL for this month (August 2024) were recorded at 5.96 percent and 6.08 percent as against 7.37 percent and 7.12 percent in August, 2023. The corresponding figures for July, 2024 were 6.17 percent for CPI-AL and 6.20 percent for CPI-RL."