MUMBAI: Zepto on Saturday said that it will raise funds through a pre-IPO financing amid tepid response from investors to its public listing.Zepto did not share the specifics of the transaction but said that the move will strengthen its balance sheet. It is looking to raise around Rs 1,000 crore through the round at a…
MUMBAI: UPI transactions scaled new highs in July 2026, while NETC FASTag transactions declined on a year-on-year basis. UPI processed 2,366 crore transactions in July, up 4.1% from 2,272 crore in June. On a year-on-year basis, transaction count grew 22%. In contrast, NETC FASTag processed 34.7 crore transactions in July, down 4.1% from 36.2 crore…
MUMBAI: RBI has said that total forex mobilisation under its concessional dollar swap facility has crossed $40 billion, more than doubling in a fortnight and surpassing the FCNR(B) deposit mobilisation seen during the 2013 special window despite higher US bond yields and tax-related challenges affecting NRI investments.Authorised dealer banks had mobilised $40.8 billion under the…
NEW DELHI: GST collections rose 15.4% to Rs 2,11,205 crore in July, the second highest since the new structure was implemented last Sept, on the back of a 29% jump in integrated GST (IGST) on imports. This was also the highest pace of growth since rate rationalisation.The rise in IGST on imports in July (for…
NEW DELHI: New model launches, led almost entirely by sport utility vehicles, helped several automakers post record July sales, suggesting that in an otherwise competitive passenger vehicle market, fresh products are increasingly deciding the winners.Tata Motors Passenger Vehicles registered the strongest growth among the larger manufacturers, with sales jumping 59% year-on-year to 63,760 units. While…
India’s Unified Payments Interface (UPI) continued its upward trajectory in July, clocking its highest-ever monthly transaction value. According to data released by the National Payments Corporation of India (NPCI), the platform touched a new peak in transaction volumes, while the value of transactions reached Rs 29.88 lakh crore in July.The platform processed 23.66 billion transactions…
After months of sustained selling, foreign investors are beginning to turn more positive on India, with equities now “probably oversold”, Motilal Oswal Financial Services chairman Raamdeo Agrawal said on Saturday, even as he warned that geopolitical uncertainties and elevated oil prices continue to cloud the outlook.Speaking to news agency ANI, Agrawal said that a large…
Samudra Manthan scheme expected to add over 600 MMTOE of reserves and will be implemented through FY 2030-31. (Representative image) On August 15, 2025, Prime Minister Narendra Modi spoke of energy security, announcing the National Deep Water Exploration Mission. “To make the country developed, we are now moving towards ‘Samudra Manthan’ (churning of the ocean)….
Supply disruptions in the Middle East have prompted Indian Oil Corporation (IOC) to overhaul its crude sourcing strategy, with the state-run refiner sharply increasing purchases from the spot market. The share of spot buying has risen from 50% to nearly 84%, IOC director (finance) Anuj Jain said on Saturday.The move comes after supplies through the…
Foreign currency inflows under the Reserve Bank of India‘s (RBI) special swap facility almost doubled in just two weeks, rising to $40.816 billion by July 31 from $20.718 billion as of July 17. According to the latest RBI data, Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits remained the biggest contributor, accounting for the bulk of funds…
