City Mumbai Financial News

1993 Mumbai riots has been arrested here 31 years after he went absconding, police said on Tuesday. Sayyad Nadir Shah Abbas Khan was nabbed in Sewri area by a team of Rafi Ahmed Kidwai Marg police station on Monday, an official said. He was named as an accused in a case of attempt to murder and unlawful assembly during the riots in the city that followed the demolition of the Babri masjid in December 1992. Khan was arrested by police but never attended the court after obtaining bail, the official said. The court then declared Khan as a wanted accused and issued a non-bailable warrant against him, the official said. Police visited his residence in Sewri in central Mumbai many times but he remained untraceable. The sleuths finally got a lead about his whereabouts by examining the mobile phone records of his relatives.

Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions. PNB became the fifth bank to be penalized, with a penalty of Rs 1.31 crore. This penalty was imposed for non-compliance with RBI directions regarding 'Loans and Advances: Statutory and Other Restrictions' and the 'Reserve Bank of India (Know Your Customer (KYC) Direction, 2016'. Before PNB, the RBI penalized four cooperative banks with various penalty amounts. These banks include The Gujarat Rajya Karmachari Co-operative Bank, Gujarat; The Rohika Central Co-operative Bank, Madhubani, Bihar; The National Co-operative Bank, Mumbai, Maharashtra; and The Bank Employees' Co-operative Bank, West Bengal.

IndusInd International Holdings (IIHL) plans to borrow ₹ 4,300 crore for the Reliance Capital acquisition through a non-convertible debenture (NCD) issue. Reliance Capital is currently undergoing the corporate insolvency resolution process, with Nageswara Rao Y appointed as administrator by the Reserve Bank of India under the provisions of the Insolvency and Bankruptcy Code, 2016, following an NCLT Mumbai bench order of December 2021.

Bengaluru/Mumbai: In the run-up to the Union Budget 2024, Indian fintech firms are seeking regulatory clarity, hassle-free licensing procedures, tax considerations, and provisions for financial inclusion to facilitate easier access to credit for small and medium enterprises (SMEs), in their wishlist for the finance ministry. As the fintech industry looks to deepen their presence, they seek a clearer regulatory framework that establishes legal recognition, licensing procedures and supervision which will help level the field with traditional lenders.

Gurugram, July 03, 2024: As the awareness and demand for term insurance gains momentum, Policybazaar has observed a steadily growing preference among High-Net-Worth Individuals (HNIs) for high-value insurance coverage. This shift is visible through an increasing number of HNIs opting for high-value policies of ₹20 Crore over the last few years.

Recalling Shah Rukh's transition from Delhi to Mumbai without a permanent residence, Juhi remarked, «I remember Shah Rukh in those days didn't have a home in Mumbai. He would come from Delhi, his hometown. I don't know where he stayed.» She vividly described Shah Rukh's immersion in the film crew's camaraderie, sharing meals and blending seamlessly with the unit. «He also did 2-3 shifts then. He was very driven,» Juhi added, highlighting Shah Rukh's relentless dedication to his craft amidst multiple film projects.

Mumbai's island city received an average of 47.93mm of rainfall in the 10-hour period ending at 6pm on Monday, while the figure was 18.82 mm and 31.74 mm for eastern and western parts of the metropolis, respectively. «In the 24 hour period ending at 8 am, Mumbai's island city recorded an average rain of 115.63 mm, Eastern Mumbai 168.68 mm and Western Mumbai 165.93 mm rainfall.

Gresham Fernandes, chef-partner, Bandra Born, Mumbai T he 43-year-old Fernandes has always had avant-garde ideas—be it the Smoke House Room in Delhi, which was inspired by the organic, fluid network of fungal threads or mycelium, or the recently shuttered Salt Water Cafe, Mumbai, where European dishes met local produce. And now at Bandra Born, Fernandes celebrates the neighbourhood in which he spent his childhood, and where he learnt to celebrate fine music alongside great food. “My grandmother had five kids, and several of my uncles worked on ships as pursers.

Animal' famed actress Triptii Dimri has recently gained significant popularity, earning the nickname 'Bhabi 2' and attracting widespread attention from the public and paparazzi alike. A few months ago, on the sets of 'Bhool Bhulaiyaa 3' the 30-year-old actress was spotted in Mumbai with her rumoured boyfriend, Sam Merchant. She has gone viral again after sharing intimate snaps of their special moments, further fueling the buzz around their relationship.

Shiv Sena MLA Pratap Sarnaik on Wednesday demanded action against a Mumbai-based college for banning students from wearing «jeans and T-shirts». The Chembur Trombay Education Society's N G Acharya and D K Marathe College, in the notice issued on June 27, banned students from wearing torn jeans, T-shirts, revealing dresses and jerseys, or a dress that «reveals religion or shows cultural disparity». The students should wear a formal and decent dress while on campus, it said. Speaking in the assembly, Sarnaik said the notice issued by the college was a «Talibani fatwa». More than 70 -80 per cent students wear jeans and jackets, he said. «Will you ban a swimming suit for a swimming competition and T-shirts, shorts for sports competitions?» the Sena legislator asked. The education minister should take action against the college authorities for the Talibani fatwa, Sarnaik added. Last month, the students of the same college moved the Bombay High Court, challenging the directive issued by the college imposing a dress code under which they cannot wear hijab, naqab, burka, stoles, caps and badges inside the premises. The high court on June 26 said a dress code is meant to maintain discipline which is part of the college's fundamental right to «establish and administer an educational institution».

MUMBAI : Mumbai: Some of the world’s largest sovereign wealth funds, including Singapore’s GIC Holdings Pte. Ltd, Abu Dhabi Investment Authority, and Kuwait Investment Authority, have significantly increased their investments in Indian stocks and startups the past few years. These three funds held a collective ₹5 trillion, or nearly $60 billion, in Indian stocks as of 31 March, show data compiled by Mint.

Mumbai-based Kartik Sharma, who has been working in the advertising industry since the 90s, is well on track to achieve his retirement goals. His investments already account for 95% of his retirement corpus target.

Kapil Wadhawan, erstwhile promoter of Dewan Housing Finance (DHFL), has moved the appellate tribunal NCLAT to challenge the NCLT order to initiate personal insolvency proceedings against him. Wadhawan has challenged an earlier order passed by the Mumbai bench of the National Company Law Tribunal (NCLT), which on April 2, directed to initiate of personal insolvency proceedings against him over the Union Bank plea. The matter was listed before a two-member bench of the National Company Law Appellate Tribunal (NCLAT), which has been adjourned to July 18 for the hearing.

kurtas, all highlighting zardozi embroidery and a contemporary take on the age-old Banarasi textiles. Reddy believes that any couture showcase merits a physical showcase as one wants to touch and feel the garment. “How a couture ensemble moves on the ramp and catches light… it's important to showcase how a couture piece can be styled in innumerable ways," says Reddy, who opened her third retail store, in Mumbai's Kala Ghoda, in December, after two stores in Delhi and Hyderabad.

Chief Justice of India D.Y. Chandrachud on Thursday said that regulators like SEBI and appellate forums like the Securities Appellate Tribunal (SAT) need to exercise caution when there is a surge in the stock market as they assume immense national importance in fostering a stable and predictable investment environment. Inaugurating the new appellate tribunal premises in Mumbai, the CJI Chandrachud said: “The more you see the surge in the stock market, the greater the role, I believe, for SEBI and SAT, as institutions which will exercise caution, celebrate the successes but at the same time, ensure that the backbone is stable.”

Mint. The government hopes to make concrete progress on these proposals within a year, the official added. According to data from the Airports Authority of India, all operational airports handled 3.4 million tonnes of freight in 2023-24, including 2 million tonnes of international freight.

Rohit Sharma and the Indian men's cricket team landed in Delhi on Thursday morning (July 4) after winning the ICC Men’s T20 World Cup 2024 in the West Indies. The team arrived at the IGI Airport in Delhi early, where a huge crowd of fans gathered to welcome them. After a 17-year wait, India secured their second T20 World Cup trophy. Rohit Sharma proudly showed off the trophy as fans cheered loudly. A video of Rohit displaying the T20 World Cup 2024 trophy upon arrival in India is now trending online.

MUMBAI : The high risks involved in options trading haven’t deterred individual investors from dabbling in the market despite regulators expressing concerns over their excessive participation in an instrument with a low scope for profitability. Retail investors have been net buyers of index options over the past four fiscal years through 2023-24, when their volumes surged five-fold, shows aMintanalysis of data from NSE. The exchange commands 90% of the market share in such instruments.

‘Minor Detail’: A group show interprets the meaning of home She goes on to describe how Paniker’s pedagogy opened avenues for technical and creative explorations that became a hallmark of the school, contributing towards the development of the art movement in Madras (now Chennai). Though the movement was named after the city, its fabric was determined by artists coming in from the four southern states—Tamil Nadu, Kerala, Andhra Pradesh and Karnataka that made up the erstwhile Madras Presidency—thus bringing in different approaches and visual vocabularies.

Marine Drive for the victory parade of the T20 World Cup-winning Indian cricket team, were injured and some faced trouble breathing on Thursday, according to Mumbai police. An eyewitness, Ravi Solanki shared his experience with and said, «I was coming from the office and came to know that the Indian team would reach here between 5 pm-6 pm which did not happen. The crowd kept increasing. The police were not managing the situation. People suddenly started shouting, after which some people fell on each other. It was very unorganised. There was nobody to manage. The incident happened between 8:15-8:45 pm.» A victim, Rishab Mahesh Yadav, who fell unconscious during the victory parade tol ANI, «The crowd was increasing. I fell and got choked. I became unconscious. I was taken to the nearby hospital, where I received treatment. I feel fine now. The crowd was more than necessary. There was mis-mamagement. The police were also not alert.»

MUMBAI : Mumbai: The Reserve Bank of India’s decision to curtail trading in exchange-traded currency derivatives has surfaced an unintended beneficiary some 4,000 km away—the Singapore Exchange, or SGX. Volumes of rupee-dollar futures on the Singapore Exchange have surged since RBI’s restriction—which came into effect on 3 May—crimped volumes on India’s National Stock Exchange. NSE had enjoyed a 94% share in India’s exchange-traded currency derivatives segment.