Author: NNI Editor
The Andhra Pradesh state government, on Friday (February 28, 2025), presented the annual budget for the financial year 2025-26 with a total outlay of ₹3,22,359 crore. Of this, revenue expenditure is estimated at ₹2,51,162 crore, and capital expenditure at ₹40,635 crore.Click here for our Live Coverage of the Andhra Pradesh Budget presentationTalliki Vandanam, Annadata sukhibhava, the two promises made under Super Six, key electoral promises, found their way into the Budget. The government made a mention of Godavari-Banakacherla, an ambitious ‘intra-linking of rivers’ initiative. But, there was no specific mention of funds allocated to it. However, allocation of ₹6,705 crore for…
The digital payments landscape has demonstrated remarkable expansion | Photo Credit: KAMAL NARANG UPI transactions in January surpassed 16.99 billion and the value exceeded ₹23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday (February 28, 2025). For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement.Unified Payments Interface (UPI) remains the cornerstone of India’s digital payment ecosystem, contributing to 80% of the retail payments across the country, it said.The total transaction volume exceeded 131 billion and the value exceeded ₹200 lakh crore for the 2023-24.…
India’s first woman Sebi Chief Madhabi Puri Buch, who faced conflict of interest allegations by the U.S.-based short-seller Hindenburg and also political heat thereafter, would complete her three-year tenure later on Friday (February 28, 2025) and will be succeeded by Finance Secretary Tuhin Kanta Pandey.Before her appointment as Sebi chief, veteran investment banker who has also work with country’s leading private sector lender ICICI Bank, joined Sebi’s board as a whole-time member in April 2017 and was later elevated as a chairperson in March 2022. She succeeded former IAS officer Ajay Tyagi, who held the top position for five years,…
Representative image | Photo Credit: Reuters The rupee declined 19 paise to 87.37 against the U.S. dollar in early trade on Friday (February 28, 2025), as the strength of the American currency and a negative trend in domestic equities dented investor sentiments. Forex traders said the ongoing uncertainty surrounding tariff imposition by the U.S. has left financial markets in flux. Moreover, the tariff chaos has injected volatility and uncertainty into the U.S. Dollar Index. At the interbank foreign exchange, the rupee opened at 87.32, then fell to 87.37 against the American currency, registering a decline of 19 paise over its…
From the Sensex pack, IndusInd Bank, Mahindra & Mahindra, Tech Mahindra, HCL Tech, Infosys, Tata Steel, Tata Motors and Maruti were the biggest laggards. | Photo Credit: Reuters Benchmark indices Sensex and Nifty tanked in early trade on Friday (February 28, 2025) mirroring deep cuts in global markets after the latest announcement of additional 10% tariff on Chinese products rattled investors. The 30-share BSE benchmark Sensex tanked 790.87 points to 73,821.56 in early trade. The NSE Nifty slumped 231.15 points to 22,313.90. From the Sensex pack, IndusInd Bank, Mahindra & Mahindra, Tech Mahindra, HCL Tech, Infosys, Tata Steel, Tata Motors…
Udupi Deputy Commissioner K. Vidyakumari speaking at an awareness programme in Udupi on Thursday. | Photo Credit: SPECIAL ARRANGEMENT Karnataka Small Scale Industries’ Association president M.G. Rajagopal on Thursday said the recently introduced e-khata system by the State government has considerably been affecting small-scale industries in Karnataka.He was speaking at an awareness programme on export, zero defect zero effect (ZED) certification and lean scheme, jointly organised by the Industries and Commerce Department, the district industries centre, the Visvesvaraya Trade Promotion Centre, and KASSIA in Udupi.Mr. Rajagopal said micro, small and medium entrepreneurs were unable to undertake any activity, including registration,…
Tech leaders have broadly fallen in line around Trump since he won the election in November, with Zuckerberg making a particular turn towards the Republican since his return to office [File] | Photo Credit: AP Meta on Thursday said it had laid off 20 workers for leaking information to the media, as the social media giant faces pressure over the recent political shift of its boss Mark Zuckerberg towards US President Donald Trump.”We tell employees when they join the company, and we offer periodic reminders, that it is against our policies to leak internal information, no matter the intent,” a…
The Karur Vysya Bank (KVB) on Thursday opened its branch at Melachinthamani in Tiruchi. Kumaravel, Dean, Mahatma Gandhi Memorial Government Hospital, Tiruchi, inaugurated the new branch. The new branch will cater to all basic banking transactions and also specific needs of customers, offering the entire spectrum of banking products and financial services covering retail, institutional and consumer lending, said a press release issued by the KVB. Published – February 28, 2025 08:13 am IST Source link
U.S. President Donald Trump and British Prime Minister Keir Starmer attend a press conference at the White House in Washington, D.C., U.S., February 27, 2025 | Photo Credit: Reuters U.S. President Donald Trump held out the prospect of a “great” post-Brexit trade deal that could avoid tariffs on Britain on Thursday (February 27, 2025) — as he hailed Prime Minister Keir Starmer as a tough negotiator.“We’re going to have a great trade agreement, one way or the other,” Mr. Trump told reporters during a joint press conference with Mr. Starmer at the White House, adding that a new deal could…
Tuhin Kanta Pandey. File | Photo Credit: ANI The government on Thursday (February 27, 2025) appointed Finance and Revenue Secretary Tuhin Kanta Pandey as the new chairman of the Securities and Exchange Board of India (SEBI).Mr. Pandey replaces Madhabi Puri Buch, who completes her three-year tenure on Friday (February 28, 2025).The Appointments Committee of the Cabinet has approved the appointment of Mr. Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of SEBI chairman, according to a government order issued late in the evening.Mr. Pandey’s appointment is initially for a period of three years from the…