City Mumbai Financial News

Pragya Singh Thakur's plea for the day, it directed her to remain present from February 27 onwards "without fail, else, necessary steps will be taken". The court also directed all the accused to be present on their dates till their statements are recorded.

MUMBAI : Paytm founder Vijay Shekhar Sharma has stepped down as non-executive chairman of Paytm Payments Bank as the lender overhauls its board in the face of regulatory strictures. Sharma stepped down to aid the payments bank in the transition, parent company One97 Communications Ltd said in a regulatory filing on Monday.

Manoj Jarange on Monday announced he is withdrawing his 17-day-old fast undertaken over the Maratha quota issue, but insisted he would continue his agitation until the Maharashtra government starts issuing Kunbi caste certificates to extended family members of people already having such documents, thereby allowing them to avail reservation benefits. Jarange's decision came a day after he announced a march to Mumbai to press for his demands related to quota in jobs and education for the Maratha community and coincided with the start of the budget session of the state legislature in Mumbai. Last week, both houses of the state legislature unanimously passed a bill providing 10 per cent separate reservation for the Maratha community in education and government jobs. Jarange, sitting on an indefinite hunger strike since February 10 at Antarwali Sarati village in Jalna district, however, insisted on quota for the Marathas under the OBC category and had continued his fast. «Although I am suspending my agitation (hunger strike) today, there will be 3 to 4 youths who would sit here and fast every day for our demands. I will also visit some villages and explain my stand to them. They could not come to meet me here (at Antarwali Sarati village) because of restrictions imposed by the home department,» he said.

Renowned Ghazal singer Pankaj Udhas, known for his soulful voice and timeless music, passed away at the age of 72, as reported by PTI on Monday. Udhas, along with fellow musicians Jagjit Singh and Talat Aziz, played a significant role in popularizing Ghazal music across India. Early Life and Career Pankaj Udhas was born on April 17, 1951, in Savarkundla, Gujarat, India. He belonged to a family with a musical background; his elder brother, Manhar Udhas, was a successful Hindi playback singer in Bollywood. Pankaj Udhas moved to Mumbai and attended St. Xavier's College. He gained recognition as a professional singer with his song «Chitthi Aayee Hai» from the film Naam (1986).

Adani group is planning to foray into the cab service space with electric vehicles in partnership with Uber, multiple people aware of the negotiations told ET. Billionaire Gautam Adani and Uber CEO Dara Khosrowshahi last week discussed the strategic alliance whereby Adani Group is looking to become a fleet operator by purchasing and listing hundreds of electric four-wheelers on Uber, the sources said.

Internet services were suspended on Monday in Maharashtra's Jalna, Chhatrapati Sambhajinagar and Beed districts to maintain law and order in view of the Maratha quota agitation led by activist Manoj Jarange, officials said on Monday. As a precautionary measure, borders of these districts have also been sealed, they said. The internet services in the three districts have been suspended with effect from 6 am to 4 pm to avoid any untoward incident due to rumours on social media platforms, an official said quoting an order of the state home department. Three cases has been registered in Beed district for agitations without permission, another official said adding that two persons have been arrested for damaging a state transport bus.

The real estate market in India has been witnessing exponential boom over the last two years. With rentals skyrocketing, the sector has remained buoyant with property owners enjoying the lucrative appeal of their property investment. And it is interesting to note that the net rental yield in India is one of the highest in the world.

Siddharth Kannan, Vaswani said that SRK has 17 phones, but he has just one number, which makes it hard for him to catch up with his old friend. "We do not meet, we don’t talk, we don't even have a relationship, Vaswani said. Shah Rukh Khan and Vivek Vaswani's friendship goes back to the 90s when King Khan was still a newbie in the industry.

Gokhale Bridge is all set to re-open partially in Andheri on Monday, February 26. Mumbai's Guardian Minister (Suburbs) Mangal Prabhat Lodha will inaugurate the bridge today. It is expected that the bridge will be fully operational by December 2024.

Mumbai bench of Income Tax Appellate Tribunal has allowed ICICI Bank Ltd to avail ₹1,855 crore bad debt write-off as deduction, but dismissed the private bank's appeal seeking ₹502-crore worth long-term capital loss allowance. The appellate tribunal was hearing ICICI Bank's appeal against an order of principal commissioner of Income tax (PCIT) for 2015-16. The PCIT had ruled that an allowance of long-term capital loss of ₹996 crore was irregular and that the bank had claimed an excess capital loss of ₹502 crore. The bank had calculated capital gain and capital loss while acquiring and selling shares, applying the cost of inflation index on foreign currency rather than Indian currency, it said. The ITAT bench of Sandeep Singh Karhail and Prashant Maharishi upheld the order of PCIT and observed that ICICI Bank transacted in Indian currency and, therefore, it could not have indexed the cost of inflation on foreign currency.

Eknath Shinde on Sunday warned Manoj Jarange Patil that he must not test the patience of the state government after the Maratha quota activist made serious allegations against Deputy Chief Minister Devendra Fadnavis that he was trying to kill him. Earlier in the day, the Maratha quota activist accused the Deputy Chief Minister of hatching a conspiracy to kill him. Jarange was speaking Antarwali Sarati.

MUMBAI : Payment gateway business Razorpay Software Pvt. Ltd is preparing to launch its products in new Southeast Asian and West Asian markets this year, aiming to garner 5-10% of its revenue from its international business in 3-5 years. “We should definitely launch in some new countries this year as we look to expand our business in Southeast Asia and Middle East," said co-founder and managing director Shashank Kumar.

MUMBAI , NEW DELHI : Culver Max Entertainment (earlier Sony Pictures Networks India) and regional broadcaster Sun TV Networks have begun initial discussions to purchase a strategic stake in Arha Media & Broadcasting, which runs the South Indian video streaming platform aha. Arha Media, a joint venture between Geetha Arts and My Home Group, has roped in KPMG Corporate Finance as a strategic adviser, said three people familiar with the development.

Foreign Exchange Management Act (FEMA), news agency PTI reported on Sunday citing sources. The report said the promoters of Mumbai-based real estate company have been asked to depose at the ED office in Mumbai but they may choose to submit their primary responses through an authorised representative.

Maratha quota activist Manoj Jarange on Sunday said he would march to Mumbai and protest outside the residence of Maharashtra Deputy Chief Minister Devendra Fadnavis who he accused of trying to kill him. The announcement, made at the end of a speech of more than one hour in Antarwali Sarati in Jalna in which Jarange made several allegations against Fadnavis, took his supporters by surprise. Asked about Jarange's statements later, Fadnavis just said «I did not hear what he spoke». «Some people are being lured and pressured to make false allegations against me. Fadnavis is behind these conspiracies. He wants to kill me. I am ready to march to Sagar bungalow (Fadnavis' official residence in Mumbai's Malabar Hill) right away,» Jarange said.

Brihanmumbai Municipal Corporation (BMC) has announced a 10% water cut in some areas of Bandra and Khar West (H-West ward) from February 27 to March 11 citing rehabilitate work in Pali Hill Reservoir. As per the civic body, the areas which will face a 10% water cut include— Gazdar Bandh, Dilip Kumar zone, Pali Mala zone, Union Park zone (Khar west), Dandpada, Kantwadi, Sherli Rajan and some areas of Bandra West. The civic body is doing repair and rehabilitation of the 600-mm old water inlet main pipe of the Pali Hill reservoir in the H-West ward, which will cause a low water supply.

MUMBAI (Reuters) — Indians are spending less on food, particularly staples like rice and wheat, and more on discretionary items such as processed food, as well as durables like televisions and fridges, government consumption data showed.

Crakk Box Office Collection Day 2: Vidyut Jammwal starrer action-packed Bollywood film “Crakk," witnessed a slowdown on Day 2 even as it coincided with a weekend day, Saturday, when the numbers usually follow the higher trend. Its numbers fell by 35.2% on February 24 when the film registered 11.27% Hindi occupancy. According to estimates by industry tracker Sacnilk, the film managed to rake in ₹7 crore net within 2 days of its release.

Directorate of Enforcement (ED) has summoned Niranjan Hiranandani, co-founder and managing director of real estate developer Hiranandani Group, and his son Darshan Hiranandani in a forex violation case. It asked them to appear at the agency’s south Mumbai office on Monday. Darshan Hiranandani was informed by email as he is a non-resident Indian (NRI) and lives in Dubai, people aware of the matter told ET. The agency has registered a case against the Hiranandanis and group entities under the Foreign Exchange Management Act (Fema), they said. On Thursday, the federal agency conducted searches at four sites linked to the realty firm in and around Mumbai, including Niranjan Hiranandani’s home as well as the registered and corporate offices of group entities. “There are certain transactions with which the duo need to be confronted and therefore they have been summoned on Monday,” said an official aware of the development. Ordinarily, while summoning a person for the first time in a case, the agency allows the option of being represented through legal counsel.

Nirmala Sitharaman. Amid tight security, the passengers grabbed the opportunity to click pictures with the Union Finance Minister. “Smt @ interacts with commuters while travelling from Ghatkopar to Kalyan in a Mumbai local train," the official X handle of Nirmala Sitharaman said while sharing the pictures of her Mumbai local journey.

Finance Minister Nirmala Sitharaman experienced the daily commute of millions of Mumbaikars on Saturday, taking a ride on the city's iconic local train. Sharing pictures of her journey from Ghatkopar to Kalyan station, Nirmala Sitharaman Office wrote on X (formerly known as Twitter): «Smt @nsitharaman was received by Shri @KapilPatil_, Hon'ble Union Minister of State for Panchayati Raj, upon her arrival at the Kalyan Railway Station.» The photos show her interacting with fellow passengers, engaging in friendly conversations. This move has been met with mixed reactions from the public.