Business highlights

Following are the top business stories at 2010 hours: DEL25 BIZ-FM-FINTECH Sitharaman nudges fintech players to have more engagement with govt Mumbai: Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust.

DCM71 BIZ-WINDFALL-TAX Oil ministry says windfall tax response to dynamic situation New Delhi: The oil ministry on Tuesday said the levy of windfall profit tax was a response to a dynamic situation and its design provides for recalibration based on market inputs and feedback.

DEL62 BIZ-2NDLD STOCKS Markets extend gains despite Fed overhang; bank stocks shine Mumbai: The Sensex and Nifty chalked up gains for the second straight session on Tuesday, propelled by across-the-board buying despite concerns over aggressive rate hikes by global central banks to tame inflation.

DEL36 BIZ-RUPEE-CLOSE Rupee rises 7 paise to close at 79.74 against US dollar Mumbai: The rupee consolidated in a narrow range and settled 7 paise higher at 79.74 (provisional) against the US dollar on Tuesday, as investors await the US Fed's policy statement for further cues.

DCM64 BIZ-FM-KYC Working to implement common KYC for financial transactions: FM New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said work is on for implementing common KYC which can be used for undertaking various financial transactions across institutions.

DCM43 BIZ-STEEL-PLI 35 firms submit applications under PLI scheme for specialty Steel: Scindia New Delhi: As many as 35 companies have submitted 79 applications under the PLI scheme for specialty steel, Union Minister of Steel Jyotiraditya Scindia said on Tuesday.

DCM66 BIZ-RBI-DAS-LOAN-APP RBI wants fintech operators to follow rules of game: Shaktikanta Das Mumbai: Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday.

DCM61 BIZ-LD KAMATH India expected to be USD 25-trillion economy in 25 years: Kamath Mumbai: India is expected to be a USD 25-trillion economy in 25 years, veteran banker and chairman of National Bank for Financing Infrastructure and Development K V Kamath said on Tuesday.

DCM36 BIZ-ESSAR Essar to invest USD 4 bn in steel plant in Saudi Arabia New Delhi: The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said.

DCM75 BIZ-RBI-CENTRAL BANK RBI removes Central Bank of India from PCA watchlist Mumbai: The Reserve Bank on Tuesday said Central Bank of India has been removed from the Prompt Corrective Action Framework (PCAF) watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

DCM69 BIZ-BYJUS Byju's shifts focus to profitable growth: CEO to employees New Delhi: Days after reporting a loss of Rs 4,564 crore in the 2021 fiscal, Byju's founder and CEO has told employees that India's most valuable startup has already started shifting focus toward profitable growth and revenue of USD 2 billion was within its sights.

DCM25 BIZ-ONEWEB-SATELLITES OneWeb's 36 satellites arrive at Satish Dhawan Space Centre ahead of planned launch New Delhi: OneWeb, the Low Earth Orbit (LEO) satellite communications company, on Tuesday announced the arrival of 36 satellites at Satish Dhawan Space Centre (SDSC- SHAR) ahead of a planned launch from Sriharikota.

DEL51 BIZ-SPICEJET-PILOTS SpiceJet sends 80 pilots on 3-month leave without pay New Delhi: Budget carrier SpiceJet on Tuesday said it has asked 80 of its pilots to go on a three-month leave without pay.

DCM55 BIZ-EPFO-PAYROLL EPFO adds 18.23 lakh subscribers in July New Delhi: Retirement fund body EPFO added 18.23 lakh new subscribers in July 2022, registering a 24.48 per cent rise as compared to the year-ago period, according to official data.

DEL64 BIZ-LD GOLD-PRICE Gold gains Rs 24; silver drops Rs 222 New Delhi: Gold prices rose by Rs 24 to Rs 49,766 per 10 grams in the national capital on Tuesday, according to HDFC Securities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)