City Kolkata Financial News

West Bengal chief minister Mamata Banerjee on Sunday said in wake of the violence in Bangladesh, she would keep the doors of her state open for people in distress and offer them shelter, referring to the United Nations resolution on refugees. «If someone knocks at my door seeking refuge due to trouble in Bangladesh, I will give them shelter,» Banerjee said, adding, «Don't worry if you have family members in Bangladesh, or people who have come here and got stuck, we will help them. If people come here in a helpless state and the people knock at the door of Bengal, we will surely give them shelter. We will not step in or talk about it as Bangladesh is a sovereign and the Indian government will speak about it. Our empathy and solidarity are with people and students as many lives were lost,» Banerjee said. «We are sad to see so many deaths and my heart goes out to those students who were killed,» she further said. «I should not be speaking on the affairs of Bangladesh as it is a subject matter of the Centre,» Banerjee added. The West Bengal CM's comments came amid the ongoing protests in Bangladesh that erupted over demands of an end to a quota system that reserves up to 30% government jobs for relatives of veterans who fought in Bangladesh's war of independence in 1971 against Pakistan.

West Bengal Chief Minister Mamata Banerjee offered shelter to people in distress from Bangladesh, sources in the Central government said a state administration has no locus standi on the issue. These matters are handled by the Union government and the comments are «totally misplaced», the sources said. In an address at a public event in Kolkata, Banerjee, referring to violence-hit Bangladesh, said she would keep the doors of West Bengal open for people in distress from the neighbouring country and offer them shelter. «These are matters which are handled by the Union government,» said a source in the Central government.

Indian tennis legends Leander Paes and Vijay Amritraj became the first Asian players to be formally inducted in the International Tennis Hall of Fame in a gliterring ceremony. On Saturday, in the ceremony, both players raised the Tricolour high with honour as they were formally inducted into the Hall of Fame. Now 70, Amritraj peaked at 18 and 23 in singles and doubles careers, respectively, winning 13 doubles and 15 singles titles throughout his journey as a tennis player which lasted over two decades.

₹1,200 crore. It presented an enviable opportunity for both Jumbo and United Breweries. As it turned out, Chhabria used Mallya as collateral.

Shimla: The Himachal Pradesh Police has arrested one of the masterminds of a Rs 2,500-crore cryptocurrency scam, which was unearthed in the state in 2022, from Kolkata, officials said on Thursday. Accused Milan Garg (35), a resident of Meerut in Uttar Pradesh, was apprehended on Wednesday night from the Netaji Subhash Chandra Bose International Airport, Kolkata while he was trying to flee to Bangkok in Thailand, they said. Garg, who was allegedly involved in designing and marketing of a fake cryptocurrency, was later brought to Shimla, Deputy Inspector General of Police (DIG), Northern Range, Abhishek Dhullar told. Garg, who earlier fled to Dubai after the scam came to light, had returned to India in June and was again leaving the country when he was detained at Kolkata airport. The accused has been arrested and brought to Shimla, said Dhullar, who is heading an SIT probing the case.

₹190 crore, two company executives told Mint. The company has committed ₹100 crore to Chennai-based Radiance Realty Developers India Ltd, and another ₹90 crore to Pune-based Mantra Properties and Developers Pvt. Ltd, for their respective residential projects.

Budget 2024, scheduled in July, one may expect the government to continue with its objective of moving towards a simplified tax system through the new tax regime (NTR) that was introduced in Union Budget 2020-21. With a view to make the NTR more attractive for individual taxpayers, the government could consider taking measures such as increasing the standard deduction limit from Rs 50,000 to Rs 100,000; including health insurance premium (u/s 80D) in this regime and enhancing the deduction limit available to promote adoption of adequate health insurance cover. Besides, an increase in deduction limit for employer's contribution to the National Pension System (NPS) u/s 80CCD(2) from 10% of basic salary to 14% will be a welcome move. The enhancement of this deduction will ensure parity with the provision applicable for central and state government employees and would provide an option for enhanced tax saving under the new tax regime, along with promoting long-term retirement savings. However, in case the government continues with the old tax regime as an option, it will be important to rationalise some of the tax provisions. One such provision will be to consider Bengaluru as a «metro city» for the purpose of HRA exemption in Budget 2024.

Nazara Technologies on Thursday fell up to 8% to Rs 845.65 on BSE after two of its subsidiaries got show cause notices in relation to Goods and Services Tax (GST) with a total liability of Rs 1,120 crore. The show cause notices were sent by the Director General of GST Intelligence, Kolkata to Openplay Technologies and Halaplay Technologies on Tuesday, July 16 for proposed liability of Rs 845.72 crore and Rs 274.21 crore, respectively, Nazara disclosed in a regulatory filing.

power sector in the country, Union Power Minister Manohar Lal Khattar has called on the state governments to make improvements in the sector to become self-sufficient. Speaking to reporters, Minister Khattar, said, «There are guidelines that can be given to the state governments. Ultimately, the work of implementation is the responsibility of the state governments, so we will definitely appeal to everyone as the power sector has become so important nowadays… if the sector is not made self-reliant, then its effect directly falls on the public as well as the state governments.» He added, «So if the state governments want to stand on their own two feet and be self-sufficient, then it is very important to bring improvements in the power sector...»

spectrum in the 900 Mhz band in Kolkata, telecom operator Vodafone Idea (Vi) announced expansion of a new technology in 3000 sites across the city to enhance network infrastructure. This expansion is part of Vi's broader strategy to upgrade its network infrastructure, following a successful Rs 18,000 crore Follow-on Public Offering (FPO). This upgrade aims at providing a stronger indoor coverage experience for users, with superior calling and faster data speeds, Vi said in a statement. Vi has also acquired additional spectrum in the recently concluded spectrum auction, committing Rs 31 crore for 0.4Mhz of spectrum in the 900 Mhz band in Kolkata Circle and Rs 376 crore for 7.6 Mhz of spectrum in the 900 Mhz band in West Bengal Circle.

Sacred Rest: Recover Your Life, Renew Your Energy, Restore Your Sanity spoke about seven types of rest that a person needs for complete restoration of one’s overall health. These are physical rest along with mental, spiritual, emotional, social, creative and sensory rest. If you constantly feel tired even after getting in your eight hours of sleep, three litres of water, and 30 minutes of exercise, you aren’t the only one.

Panchayat department is planning to create a marketing board dedicated to SHGs and FPOs in the Panchayat Department. “We are going to make a marketing Board separately dedicated to SHGs and FPOs in the Panchayat Department. Market linkages, capacity building, livelihood opportunities and research will be looked into by the Board. We are forwarding the proposals to the state government,” P Ulaganathan, Secretary in West Bengal Panchayat & Rural Development Department. “We have chosen 150 women from Self-Help Groups and IIM Kolkata are training them. We are funding them. Earlier their income was Rs 10-12,000 but it has touched Rs 10 lakhs now. Their products are available in New Delhi and Mumbai. It has happened with the help of IIM-Joka,” Ulganathan said, adding “We are doing entrepreneurship programmes in the state”.

Cargo traffic across 12 major Indian ports rose 6.8 per cent to 69.08 million tonnes (MT) in June from 64.69 MT in the year-ago month, with ten ports showing positive growth while the remaining two witnessed a decline. Jawaharlal Nehru Port in Maharashtra recorded the highest growth in cargo handling at 15.12 per cent during the reporting month, followed by Cochin Port with 15.12 per cent, Kamarajar Port (10.70 per cent), Deendayal Port (8.57 per cent) and New Mangalore Port (8.53 per cent), according to the data released by the major ports' apex body Indian Ports Association (IPA). The 12 major ports are Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port. According to the IPA, VO Chidambaranar Port's cargo traffic grew 7.73 per cent and Paradip Port 7.41 per cent growth, respectively, during the previous month.

tomato price, which soared to Rs 75 per kg in the national capital, is expected to cool in the coming weeks as supply improves from southern states, a government official said on Saturday. The official, who spoke on condition of anonymity, said prices of potato and onion, which also spiked due to supply disruptions, are expected to stabilize soon. «Prices of tomato, potato and onion are ruling high in Delhi and some other cities. Extreme heat followed by spells of excess rainfall disrupted supplies, causing a spike in prices in consuming areas,» the consumer affairs ministry official told PTI. Tomato price in New Delhi has surged to Rs 75 per kg, but is likely to ease if heavy rainfall does not further disrupt supply chains, he said.

Bihar is planning to introduce a few policies in the next 2 months to attract capital in various potential sectors and is poised to become the growth engine of the East, State Industries and Tourism Minister Nitish Mishra has said. The state is implementing strategic measures to suit both large and small businesses in order to promote industry and employment, aligning with Prime Minister Narendra Modi's vision to develop East India as a growth engine, he said. «Bihar is ready to participate in the country's development and become the growth engine of the East,» Mishra said on the sidelines of Bihar Business Connect 2024 first roadshow in Kolkata on Monday. Over 50 companies represented by some nearly 90 officials and industrialists attended the event.

flogging video surfaced on the internet, another shocking video from a Kolkata locality has gone viral, sparking outrage and drawing sharp criticism from the BJP against the Mamata Banerjee-led government. The BJP has accused the Trinamool Congress (TMC) of repeatedly committing atrocities against women in the state. BJP's deputy in-charge for Bengal Amit Malviya condemned the incident and linked it to previous instances of violence against women.

I recently spent ten days in the United Kingdom, driving through the English countryside and occasionally giving lectures. My journey included visits to historical landmarks like the majestic Durham Cathedral, completed in 1133 CE, and the little village in Lincolnshire where Isaac Newton was born. But I also saw, in London and across the country, signs of urban decay and neglect, as well as homelessness, poverty and despair.

Gautam Gambhir. Two-time World Cup winner has been appointed head coach of the India men's cricket team in all formats, starting later this month with the limited-overs tour of Sri Lanka.

IIT-Madras, Archan Bhattacharya, from Sonarpur near Kolkata, was arrested on Saturday for allegedly stabbing and grievously injuring a neighbour of a family friend, along with the neighbour's wife and son. The attack was reportedly in retaliation for the killing of a stray dog, according to Monotosh Chakraborty in a TOI report. Archan, who travelled from Chennai, has been charged with multiple offences, including attempted murder. The injured family members are receiving treatment at MR Bangur Hospital in Kolkata. Investigators revealed that the dispute arose between the families of Gobindo Adhikari and Subhash Debnath, who have been long-time neighbours in the Chouhati area of Sonarpur. The conflict centred around the Debnath family's practice of feeding stray dogs, which the Adhikari family claimed led to the animals entering their house. In May, the Adhikaris allegedly beat one of the stray dogs, which succumbed to its injuries a few days later.

Shoppers Stop, India’s oldest department store chain, plans to enter luxury retailing with large-format standalone stores that will sell brands such as Gucci and Louis Vuitton, one person aware of the company’s plans told ET. The new format will also house the Aditya Birla Group’s luxury store The Collective, the person said. The company plans to launch two luxury outlets this fiscal year and one of them could be in Kolkata, the other in Mumbai, the person said.

Calcutta High Court will hear on Monday an application for interim order by West Bengal Governor C V Ananda Bose in a defamation suit filed by him against Chief Minister Mamata Banerjee and some other TMC leaders over alleged comments made by her. Justice Krishna Rao on Wednesday granted leave for the defamation plaint to be registered before his court. He directed that Bose's application for an interim order, for a direction upon Banerjee and the others not to make any further comment on the issue under contention, will be taken up for hearing on Monday. Justice Rao also directed Bose's lawyer to serve copies of the application to the defendants in the suit in the meantime.