Federal Bank posts Q1 profit growth of 18.2% YoY at Rs 853.74 crore, NII at Rs 2291.98 crore
Federal Bank on Wednesday posted its fiscal first quarter profit at Rs 1009.53 crore, up 18.2 per cent in comparison to Rs 853.74 crore recorded during the corresponding quarter of FY24. It registered total interest earned during the quarter at Rs 6330.88 crore, up 26 per cent as against Rs 5024.53 crore during the same period last year. Federal Bank posted Net Interest Income (NII) at Rs 2291.98 crore, up 19.46 per cent. The Bank registered operating profit of Rs 1500.91 crore. Operating profit recorded a growth of 15.25 per cent on a year-on-year basis.
FM Nirmala Sitharaman modifies capital gains taxation to simplify the filing of ITR form
As the Budget 2024 unfolded, all eyes were riveted towards the finance minister as she laid out the inaugural budget of the Government following the recent Lok Sabha elections. Among the multitude of macroeconomic and direct tax proposals, the capital gains taxation reforms emerged as particularly prominent. The rationalisation and simplification of the capital gains tax regime, a long-cherished aspiration of taxpayers, finally received the Finance Minister’s endorsement in this budget.
Embraer grows its presence in the Indian Civil Aviation Sector
India and Brazil are witnessing a significant strengthening of ties in the civil aviation sector, with Embraer, Brazilian aerospace company, playing a pivotal role. Embraer has established a strong presence in India, contributing to the country’s aerospace ecosystem through its commercial aircraft, business jets, and defence systems.
All-electric EV6 now available under Kia Lease program
Kia has introduced its lease program for its flagship product, EV6. The carmaker says that the move came after the success the company has received for its lease program in just 2 months of its launch. The special lease rental for EV6 stands at Rs 1.29 lakh per month and includes insurance, maintenance, pick-up and drop, scheduled/unscheduled services, and 24X7 RSA.
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Adani Green subsidiary operationalises 250 MW of wind power project in Gujarat
Adani Green Energy on Wednesday announced that its wholly owned subsidiary, Adani Renewable Energy Forty One Limited, has operationalised a 250 MW of wind power project at Khavda, Kutchh, Gujarat.
Delhi High Court seeks police response on Umar Khalid’s bail plea in UAPA case linked to 2020 riots
The Delhi High Court on Wednesday sought the city police’s response on the bail petition of Umar Khalid, a former Jawaharlal Nehru University student, in a UAPA case linked to the February 2020 riots in the national capital.
Llama 3.1: Meta claims its new open-source AI outperforms GPT, Claude, other ‘closed’ rivals
On Tuesday Meta announced the launch of its latest and largest artificial intelligence (AI) model in a blog post. The company claimed that the new open-source model can outperform major closed AI models such as GPT-4, GPT-4o, and Claude 3.5 Sonnet across several benchmarks.?
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