Business

Mumbai: UPI transactions reached a new peak in July 2025, with a record 1,947 crore transactions worth nearly Rs 25.1 lakh crore. This marked a 35% year-on-year growth in transaction volume and a 22% rise in transaction value.The average daily transaction count in July stood at 62.8 crore , higher than June’s 61.3 crore. Likewise,…

NEW DELHI: Govt has approved higher subsidised loans for street vendors under the second phase of PM SVANidhi scheme and expanded its coverage by bringing around 50 lakh more beneficiaries under its ambit. TOI has learnt that the proposal to enable around 11 beneficiaries who have paid the first two tranches of subsidised loans to…

India’s GDP growth could fall below 6.2% in 2025-26 if the 25% tariff imposed by the US remains in effect beyond September, S&P Global Market Intelligence warned in a report released Friday. The ratings agency had earlier projected India’s GDP at 6.2% for FY26, already a decline from 6.5% in FY25, and said the forecast…

Commerce and Industry minister Piyush Goyal will meet exporters from sectors including food processing, textiles, engineering, and chemicals in Mumbai from August 2-4 to discuss the implications of the 25% tariff announced by the United States, an industry official said on Friday.Exporters from fisheries, IT, pharma, and engineering will also participate in the meetings. A…

In another move aimed at trade enforcement, the US has unveiled a comprehensive revision of global tariff rates, targeting several countries and territories along with the European Union.The move, formalised via an executive order signed by President Donald Trump, marks a shift from negotiation-driven tariffs to a more systemic, penalty-oriented approach.The revised rates — ranging…

Fitch Ratings has revised India’s GDP growth projection for the current financial year down to 6.3%, from its earlier estimate of 6.4%, while stating that the recently announced US tariffs are likely to have only a limited direct effect on Indian corporates.In its latest India Corporates Credit Trends report released Friday, the global rating agency…

NEW DELHI: Despite US President Donald Trump’s regular rants about Apple’s manufacturing in India, company CEO Tim Cook on Thursday confirmed what is generally now more or less known – the “majority” of iPhones sold in the US in the past quarter were Made in India. China – the erstwhile production giant – is only…

Amazon shares slumped nearly 7% on Friday after the company’s cloud business, Amazon Web Services (AWS), posted slower growth than rivals Microsoft and Alphabet, prompting fresh concerns over its positioning in the AI-driven cloud race.AWS revenue rose 17.5% in the June quarter, narrowly beating Wall Street estimates, but trailing far behind Microsoft Azure’s 39% growth…

Exxon Mobil and Chevron on Friday reported their lowest second-quarter profits in four years, as lower global energy prices and a surge in oil supply from OPEC+ weighed on revenues. However, both US oil giants still managed to beat Wall Street’s earnings expectations, driven by higher production volumes.Texas-based Exxon Mobil posted a net profit of…

India’s foreign exchange reserves rose by $2.703 billion to $698.192 billion during the week ended July 25, according to the Reserve Bank of India’s latest data released on Friday.This increase comes after a decline of $1.183 billion in the previous reporting week, when total reserves had slipped to $695.489 billion, PTI reported.The latest uptick was…