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New Delhi, Earthquake tremors were felt in several parts of north India on Friday night, including Delhi, Jammu and Kashmir, Punjab and Haryana, officials said.The tremors, which lasted a few seconds, occurred around 9:45 pm. There were no immediate reports of any damage.An official in J-K said the quake was of 5.9 magnitude.The epicentre of the quake was Afghanistan at a Latitude of 36.398 degrees North and a Longitude of 70.878 degrees East, the official said.The depth of the quake was 150 km, he added."I felt a strong jolt which lasted for a few seconds," Baldev Chand, a Chandigarh resident who lives in a flat on the second floor, said.Ajay Kumar, who lives on the 11th floor of a residential building in Zirakpur, Punjab, said, "The tremors lasted for a few seconds. We thought of rushing down but the tremors stopped soon." from Economic Times https://ift.tt/jV0euBK

New Delhi: The Comptroller and Auditor General (CAG) flagged widespread irregularities in tax exemptions and deductions claimed by banks and non-banking financial companies (NBFCs), with a potential revenue impact of ₹74,766 crore, according to a report tabled in Parliament on Thursday.The report, based on a sample of 2,378 cases examined till June 2023 by the CAG, reviewed the Income Tax Department's handling of deductions and exemptions, and found systemic weaknesses, compliance failures and gaps in oversight across the sector. The CAG called for alignment between tax rules and central bank guidelines, and highlighted the need to address gaps in provisions governing NBFC taxation.The audit identified 1,847 observations, including 671 systemic issues and 533 compliance lapses. The largest discrepancies related to improper deductions for bad debts, provisions for doubtful loans and transfers to special reserves. from Economic Times https://ift.tt/2a0nThC

Mumbai: Mahindra & Mahindra has surpassed JSW MG Motor to become the second-largest electric carmaker in terms of monthly sales, according to March vehicle registration data.The manufacturer of BE 6 and XEV 9e sold 5,217 units of EVs the past month, narrowly ahead of JSW MG Motor's 5,113 units. For the financial year ended March 31, JSW MG Motor stayed at the second spot, show data from the government's Vahan portal.Long-time leader Tata Motors sold 8,224 electric vehicles in March, up 65% from a year earlier. But it ceded some ground to competitors, particularly Mahindra. Its market share declined to 39.2% in FY26 from 53.4% in FY25.Mahindra climbed to the second place within 12 months of entering the market with SUVs that run purely on electricity. A fast-paced launch of new models helped it grow sales 141%-from 2,166 units in March 2025 to 5,217 units a year later. Its market share for the fiscal year rose to 21.2% from 7.8% in FY25. 129961035 Mahindra previously had a s...

Saudi Arabia's crude oil exports fell by half in March after Iran effectively prevented tankers from leaving the Persian Gulf, forcing the kingdom to reroute flows to its west coast.Shipments averaged 3.33 million barrels a day during the month, tanker tracking data show. The drop would have been much bigger if Saudi Arabia hadn't been able to divert crude to export terminals on the Red Sea.The country is a vital source of oil supply for the world, providing about one in every six barrels of crude hauled by tankers. Markets have been watching its ability to keep flows moving after Iran effectively closed access to the open seas for Mideast exporters.Also read | Donald Trump’s NATO threat could be India’s biggest defence breakAverage crude shipments were 6.66 million barrels a day in February, tracking data show. Figures for both months exclude cargoes that were loaded onto vessels but remain stranded in the Persian Gulf.Following the start of the war, Riyadh quickly diverted cr...

Mumbai: Banks are increasingly giving loans to borrowers rated prime and above, latest data from an assessor focused on individual credit showed, indicating risk aversion among lenders at a time when job expansions at corporate India have become rather tentative amid an AI-led onslaught on repetitive tasks.Data from credit bureau TransUnion CIBIL showed that the bulk of new loan originations are concentrated among borrowers with a CIBIL score of 730 and above. The shift away from riskier segments is also evident in the declining share of new-to-credit customers, whose proportion of total originations has fallen sharply to 16% in January 2026 from 22% two years ago."The industry's preference for prime and above has gone up and at the same time, the industry is preferring existing-to-credit customers," said Bhavesh Jain, MD and CEO, TransUnion CIBIL. "The industry is preferring higher ticket size loans. Within existing credit also, we have seen an increasing trend wher...