City Mumbai Financial News
11.01 / 11:15
Waves
Digital
Platform
Netflix
film
Actor
actress
Nayanthara's 'Annapoorani' removed from Netflix; Actress, producers land in legal trouble
Nayanthara's Tamil film 'Annapoorani' has been removed from the streaming platform Netflix, sparking a wave of controversy and legal issues. The decision comes just weeks after the digital premiere of the movie and follows a police complaint filed against the actors, filmmakers, and the streaming service, alleging the film's derogatory portrayal hurt Hindu sentiments. Directed by Nilesh Krishnaa, 'Annapoorani' tells the story of an ambitious young woman from an orthodox Brahmin family, navigating her path through the culinary world despite facing resistance from her priest father. The film, initially released on December 1 to mixed reviews, made its way to Netflix on December 29.
11.01 / 11:15
Citi
Provident
cover
hospital
Department
medicines
Courts
Central govt employees, pensioners: CGHS eligibility, full list of treatments available under CGHS, cities where you can get it
CGHS scheme? What are the facilities available under the CGHS scheme? In which cities you will get the benefits of the CGHS scheme? Here are all your questions answered.
11.01 / 09:17
markets
UPS
Align
Sustainability
wellness
Ajmera Realty records 98% on-year rise in Q3 sales at Rs 253 crore
Ajmera Realty & Infra India Ltd has recorded sales worth Rs 253 crore during the quarter ended December, up 98% from a year ago. The company’s collections for the quarter grew 30% on-year to Rs 151 crore. The developer sold 1,03,573 sq ft space in the December quarter, up 63% from a year ago.
11.01 / 09:17
Digital
economy
Sustainability
Remark
pandemic
trends
banking system
Turnaround in the Indian banking system a cornerstone of India’s success, says RBI Governor
Covid pandemic and this has helped the Indian economy to be the bright spot amid global economic meltdown, Reserve Bank of India Governor Shaktikanta Das said. «The remarkable turnaround in the Indian banking system has been a cornerstone of India’s success story in the recent years. Today, the Indian banking system is well-placed to support India’s growth story in the years ahead,» Das said Thursday at Mint BFSI summit in Mumbai. He said that the trust on the banking and financial system that is built over a period of time through sustained efforts needs to be preserved. «The Reserve Bank has committed itself to safeguard the trust factor of the Indian financial system.
11.01 / 09:17
economy
Experts
country
information
Department
Mumbai
NOT
Exchange of Rs 2000 note at RBI Mumbai office will not be available tomorrow
Reserve Bank of India (RBI) informed that owing to operational considerations, the exchange of Rs 2,000 notes will not be available on January 12 at the RBI's Mumbai Regional Office. The facility will resume on Monday, January 15, 2024, which is the next working day, the RBI stated. The last day to exchange Rs 2000 bank was October 07, 2023, after that individual can Rs 2000 banknotes entities at the 19 RBI Issue Offices for credit to their bank accounts in India for any amount. All About Tax-Saving Why Rs2000 denomination banknotes were withdrawn? According to the RBI FAQs, «The Rs 2000 denomination banknote was introduced in November 2016 under Section 24(1) of Reserve Bank of India Act, 1934 (RBI Act) primarily with the objective of meeting the currency requirement of the economy in an expeditious manner after withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.
11.01 / 09:13
markets
Metro
Marvell
trends
President
consequences
travelers
Mumbai
How Mumbai Trans Harbour Link (MTHL) road will be a game changer for real estate sector— Explained
real estate growth. “The Mumbai Trans Harbour Link is a game-changer! As a proud Mumbai developer, I see this engineering marvel transforming connectivity and our real estate landscape.
11.01 / 07:37
Citi
awards
President
performer
country
cover
sanitizer
Maharashtra marked India's cleanest state, Indore wins cleanest city for 7th time
Maharashtra is followed by Madhya Pradesh, Chhattisgarh. Indore, Surat named cleanest cities in the annual survey. Notably, Indore bagged the title seventh time in a row.
11.01 / 06:23
Digital
Manufacturing
Action
Bill
reports
Department
Investigations
I-T dept detects ₹1,000 crore unaccounted cash sales in Polycab
₹1,000 crore (approximately) after it raided Polycab group, a prominent wires, cables, and electrical items manufacturer, according to an official statement by the Ministry of Finance. The I-T sleuths initiated search and seizure operations last year in December. The search action was conducted at more than 50 premises located in Mumbai, Pune, Aurangabad, Nasik, Daman, Halol and Delhi.
11.01 / 05:07
Citi
Target
MET
FIVE
Enterprise
inclusion
reports
Mumbai
MSMEs in Bengaluru, Pune confident to make profits this year, Mumbai least optimistic: Report
Small enterprises big on new firm registrations Additionally, 75% of Wholesale and Trader segment MSMEs remained bullish on consumer demand in the current calendar year. Among the Indian cities, Delhi appeared most optimistic where 87% of the surveyed MSMEs anticipated a surge in consumer spending. The survey analysed responses from nearly 3,000 MSMEs from more than 25 cities in India.
11.01 / 05:07
UPS
Entertainment
Remark
film
Celebrity
actress
Chat with Sunny Leone! Delhi startup unveils India's first official AI replica of Bollywood celebrity
artificial intelligence startup ‘Kamoto.ai’ has unlocked revenue generation through its advanced generative AI technology. The company, in partnership with Bollywood actress Sunny Leone, achieved a remarkable feat amid the transpiring technological advancements in the entertainment domain.
11.01 / 04:39
markets
Digital
Trade
Experts
cover
reports
Department
Polycab plunges 20% as I-T dept detects unaccounted sales of Rs 1,000 crore during raids
Polycab tanked 20% to the day's low of Rs 3930.55 in Thursday's trade after the Income Tax department detected «unaccounted cash sales» of about Rs 1,000 crore after it recently raided the Polycab group. «Unaccounted cash of more than Rs 4 crore was seized and more than 25 bank lockers were put on restraint after the searches were launched against the group on December 22 last year,» the Central Board of Direct Taxes (CBDT) said in a statement, according to a PTI report. It said a total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were covered. The CBDT said a large number of «incriminating» evidence in the form of documents and digital data were seized during the raids. These reveal the «modus operandi of tax evasion» adopted by the group in connivance with some of authorised distributors, it said. Also Read | Tech growth woes pose risk to Dalal Street's sizzling rally «Credible evidences recovered during the search have established that the flagship company has made unaccounted cash sales of around Rs 1,000 crore which are not recorded in the books of accounts,» the CBDT claimed. Polycab India, however, issued a clarification to stock exchanges calling the reports of «tax evasion by the company» as «rumours». «Polycab India denies any rumours of tax evasion by the Company circulating in the media,» the company filing said, adding that «The company asserts its commitment to compliance and transparency, having fully cooperated with the Income Tax Department officials during the search proceedings in Dec 2023.
11.01 / 04:03
Mumbai
MTHL inauguration on Friday: No bikes, autos allowed on Atal Setu bridge; Mumbai Police announces speed limit for cars
Maharashtra CM promises toll-free coastal road in Mumbai "There will be no entry for vehicles like motorcycles, mopeds, three-wheelers, autos, tractors, animal-drawn vehicles and slow-moving vehicles," Mumbai Police said in a statement. Multi-axle heavy vehicles, trucks, and buses heading towards Mumbai won’t have an entry on the Eastern Freeway.
11.01 / 01:05
markets
UPS
Aware
CEO
show
reports
Ecommerce roll-up companies pause brand buyouts, seek funds for survival
ecommerce roll-up model, in which a company acquires and scales up multiple brands, is showing clear signs of distress with key players pausing fresh buyouts as they look for capital, multiple people aware of the matter said. Goat Brand Labs, among the better funded startups in the sector, is racing against time to raise fresh capital amid a widespread slowdown, people aware of the matter said. The Tiger Global-backed startup’s travails come after nearly two years of record funding that helped roll-up ecommerce firms like Goat bulk up their portfolio of brands, spurred also by the entry of industry pioneer US-based Thrasio into the Indian market.
11.01 / 01:05
markets
Citi
Digital
Food
Diversity
Schools
International
The Baker’s Dozen raises Rs 33 crore in funding round led by Wipro Consumer VC unit
Wipro Consumer Care Ventures –the venture capital arm of Wipro Consumer Care & Lighting, Mirabilis Investment Trust, and She Capital, along with existing investor Fireside Ventures. The funds will be used to enhance distribution growth, expanding reach into non-metro cities and international markets. It will be also employed for brand-building and marketing initiatives.
10.01 / 18:33
markets
Digital
security
economy
awards
wellness
stars
Stars to come out at Mint BFSI Summit and Awards today
MUMBAI : Reserve Bank of India (RBI) governor Shaktikanta Das will deliver the opening keynote address at the Mint BFSI Summit and Awards on Thursday, flagging off a full day of intense deliberations, debates and conversations around the theme of financial wellness in a changing world. Joining the central bank governor will be Debasish Panda, the chairperson of the Insurance Regulatory and Development Authority of India (Irdai); Kamlesh Varshney, whole-time member at capital markets regulator Securities and Exchange Board of India (Sebi); and veteran banker K.V.
10.01 / 18:33
markets
UPS
Aware
Trade
show
concert
Zerodha entry lifts BSE’s options game
MUMBAI : Clients of India’s largest stock broker Zerodha are one of the driving forces behind BSE’s growing success in the derivatives segment since May 2023, after the exchange’s two decades of attempts to gain market share went in vain, people aware of the matter said. Interestingly, a spurt in Sensex volumes coincided with Zerodha teaming up with two related entities to raise its total shareholding in the exchange. The market share of BSE in the derivatives segment, dominated by National Stock Exchange (NSE), rose from a mere 0.004% in the June quarter to 7.38% in the September quarter and further to 15.8% in the December quarter.
10.01 / 14:53
CEO
Schools
Mental health startup Amaha raises Rs 50 crore in funding round led by Fireside Ventures
Amaha Health has raised Rs 50 crore (about $6 million) in funding led by Fireside Ventures. The venture fund invested Rs 36 crore while the remaining Rs 15 crore came in from a set of angel investors and family offices. The startup, which offers psychiatry and other mental health services, has previously been backed by Lightbox Ventures, Capricorn Partners and Info Edge CEO Hitesh Oberoi.
10.01 / 13:49
markets
Provident
Strategy
Experts
beautiful
innovations
IMCD Enhances Presence in India with Acquisition of Valuetree, Bolstering Growth in Beauty & Personal Care Market
Rotterdam, The Netherlands & Mumbai, Maharashtra, India – Business Wire IndiaIMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, and formulator of speciality chemicals and ingredients, today announces the acquisition of 70% of Valuetree Ingredients Private Limited (“Valuetree") to expand its beauty and personal care footprint in India. Founded in 2005, Valuetree is a prominent ingredient supplier to the beauty and personal care market.
10.01 / 12:26
Healthcare
patient
Akumentis Healthcare launches drug for treatment of epilepsy
Akumentis Healthcare on Wednesday said it has introduced a drug for the treatment of epilepsy. The Mumbai-based company has launched Clasepi, a DCGI-approved prescription cannabidiol (CBD) specifically formulated to address seizures linked with Lennox-Gastaut Syndrome (LGS), Dravet Syndrome, or Tuberous Sclerosis Complex (TSC) in patients aged 1 year and older, it said in a statement.
10.01 / 11:56
Citi
Provident
Ball
Platform
performer
reports
cricket
play
BCCI T10 and ISPL tennis-ball cricket: Batting for short-play formats
The ISPL will be India’s first tennis ball cricket tournament to be played in a stadium. The first edition of the ISPL tennis ball cricket tournament will be played over March 6-15. The idea is to provide young players from the grassroots level a national level platform. Six clubs—owned by the likes of Amitabh Bachchan (Mumbai), Ram Charan (Hyderabad), Hrithik Roshan (Bengaluru), Suriya (Chennai), Saif Ali Khan and Kareena Kapoor (Kolkata) and Akshay Kumar (Srinagar)—will compete in the ISPL.
10.01 / 10:31
Citi
Digital
Aware
CEO
Food
wellness
Celebrity
Mental-health startup Amaha raises 50 crores in Series A funding led by Fireside Ventures
₹ 50 crore in Series A funding round, led by Fireside Ventures, with additional participation from other angel investors contributing ₹15.6 crore. Amaha, formerly InnerHour, plans to use this funding to broaden and enhance its mental health services. Operating out of Mumbai, the company offers a variety of treatments and care plans for mental health conditions like anxiety, depression, bipolar disorder, ADHD, OCD, schizophrenia, and addictions, serving over 600 cities in India.
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