City Mumbai Financial News
28.09 / 11:17
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Ganpati Visarjan: Mumbai Traffic Police latest advisory, check road closures, alternate routes and more
Ganpati Visarjan: The Ganesh mandals in Mumbai began the processions to immerse the Lord Ganesha idols on Thursday as the 10 days of colorful festivities come to an end. The crowds have gathered at various points of the city and to minimize the problems for commuters, the Mumbai Traffic Police is releasing advisories informing about the blocked roads and the alternative routes. In its latest advisory, Mumbai Traffic Police informed about no entry from D.
28.09 / 10:35
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Ganesh Visarjan: Devotees begin Lalbaugcha Raja immersion with dance and music in Mumbai | See Images
Anant Chaturdashi, the last day of the festival. The Brihanmumbai Municipal Corporation has posted 1,337 lifeguards, including 1,035 at 69 natural water bodies and 302 at around 200 artificial ponds, and arranged 53 motorboats at natural water bodies, an official said on Wednesday. Police personnel to be on security duty include 16,250 constables, 2,866 officers, 45 Assistant Commissioners of Police, 25 Deputy Commissioners of Police, 8 Additional Commissioners of Police, and other senior officers, the official said.
28.09 / 10:35
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Mumbai: Marathi woman denied office seat in Mulund, netizens slam society owners; call act shameful
Mumbai Tak, the name of the father-son duo is Praveen Thakkar and his son Nilesh Thakkar. In a follow-up of the video, after Trupti Deorukhkar's video went viral on social media, MNS workers in Mulund asked Praveen Thakkar to apologize to the Marathi person. Reacting to the incident, Shams Ur Rehman Alavi wrote on X, “Society must have inclusivity.
28.09 / 09:51
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How a soaring Akasa Air got into a wrangle with its pilots
Akasa Air in August, days before he died, it was considered a gamble, given the highly challenging aviation sector in India. But in less than a year, when it was 11 months old, it overtook SpiceJet in terms of domestic market share in June 2023. While Akasa flew 6.2 lakh passengers last month, SpiceJet was at 5.5 lakh.
28.09 / 09:11
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‘Blot on Bangalore’s tech image’ Biocon's Kiran Mazumdar-Shaw after Trevor Noah forced to cancel shows over tech glitch
Also Read: Nikhil Kamath and Kiran Mazumdar Shaw together pledge ₹50 lakh to charity She wrote, “Forced To Cancel": Trevor Noah's Bengaluru Shows Junked Over Tech Glitch - what a blot on Bangalore’s tech image. The convention centre has much to introspect" Trevor Noah is currently in India for his live Stand-up Comedy shows.
28.09 / 08:29
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Mumbai man searches best way to suicide, Interpol alerts Mumbai police miles away
Mumbai resident, grappling with unemployment for the past six months and the legal troubles faced by his mother, sought answers online about the best way to end his life. As per a TOI report, the international policing organization Interpol, which monitors online activities, promptly alerted the Mumbai police. Acting swiftly, the crime branch located the individual within two hours and provided crucial counseling. Interpol's email alert reached the Mumbai police on a Tuesday afternoon, accompanied by a mobile number linked to the distressing online searches.
28.09 / 06:21
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Mumbai
Ganpati Visarjan Traffic Alert: List of closed roads, bridges to avoid, and alternative routes in Mumbai
Ganesh Chaturthi celebrations on Anant Chaturdashi, the Mumbai Traffic Police have issued a set of guidelines aimed at ensuring a smooth and safe procession. In a bid to maintain order and safety, the Mumbai traffic authorities have placed certain restrictions on the use of 13 «old and dangerous» road over-bridges (ROBs) and announced road closures. On this auspicious day, devotees are urged to refrain from dancing and using loudspeakers while taking Ganpati idols for immersion at designated ROBs.
28.09 / 02:17
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Stocks to Watch: Cipla, Dixon Tech, Oberoi Realty, Tata Power, Barbeque Nation
Cipla: Promoters of India’s fourth-largest drugmaker are in advanced talks with two consortiums—one led by Torrent Pharmaceuticals Ltd, with the participation of prominent family offices, and the other a group of buyout firms led by BPEA EQT and General Atlantic—to sell a controlling stake for $6-7 billion, two people with direct knowledge of the matter told Mint. Dixon Technologies: The company said its subsidiary, Padget Electronics entered into a strategic agreement with Xiaomi Technology India. This agreement encompasses the manufacturing of smartphones and various related products exclusively for Xiaomi.
28.09 / 01:59
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Ganpati Visarjan: Mumbai traffic police release advisory; Check road closures, other details
Also Read: Ganesh Visarjan 2023: Ganesh Chaturthi 10 day festivities to draw to a close. Details about muhurat date and time here Within the jurisdiction of the Azad Maidan traffic division, there will be a suspension of vehicular traffic on Mahapalika Marg on Thursday. Instead, traffic will be rerouted from CSMT Junction, passing through D.N Road and L.T Marg, leading to Metro Junction.
28.09 / 00:41
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Mumbai
Software firm KX Systems to enter India, open offices in Bengaluru and Mumbai
KX Systems is planning to enter the India market and set up sales and research & development offices in Bengaluru and Mumbai, a top executive at the software firm said. The company wants to target Indian developers, IT firms and other enterprises as it plans to capture the country’s artificial intelligence market that is expected to touch $4.2 billion by 2030, chief executive Ashok Reddy said.
27.09 / 18:39
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Fortune 500 company DXC Tech partners with Muskaan Dreams for education in rural India
DXC Technology has announced partnership with technology nonprofit organization Muskaan Dreams. The company said that the collaboration is set to revolutionize public school classrooms. «Through this partnerships, we will try to ensure that no one is left behind.
27.09 / 18:31
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Oberoi Realty to redevelop land in Mumbai's Tardeo, expects 2.5 lakh sq ft of free sale component
Oberoi Realty added. The plot of the land, which is to be redeveloped, is adjoining a property “already being redeveloped" by Oberoi Realty in a joint venture, the regulatory filing noted.
27.09 / 17:15
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Can rent allowance be claimed for more than one property?
I am renting a house in Mumbai and my parents live in another rented property. I am paying the rent for both houses and have the agreement and rent receipts. Can house rent allowance (HRA) be claimed for multiple properties? —Name withheld on request HRA exemption is allowed under section 10(13A) of the Income Tax Act.
27.09 / 12:31
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Bombay HC allows Akasa Air’s plea challenging pilot’s exit
₹21 crores from each of the pilots as damages and an additional ₹18 lakhs for breach of the company’s contract. Pertinently, the airline has also asked the court to direct the pilots to serve their mandatory notice period. The major contention of the pilots was that the Bombay High Court did not have the jurisdiction to rule in the matter.
27.09 / 12:31
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E-Revbay Launches My Loan Bhai & Car Par Loan to transform customer loan journey
Mumbai, September 27, 2023: E-Revbay Pvt. Ltd., a fintech start-up, introduces two game-changing D2C products, My Loan Bhai and Car Par Loan, to revolutionise credit decision-making for customers seeking loans from banks and NBFCs. Both of these customer-facing websites aim to make a customer’s loan journey intelligent, transparent, and easy.
27.09 / 11:25
Aviat
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In a relief to Akasa Air, Delhi HC says DGCA can act against pilots non-compliant with regulations
Civil Aviation (DGCA) can act against pilots who have no been compliant with civil aviation requirements (CAR). In a relief to Akasa Air, it further held that there are no restrictions on the DGCA to take action against pilots in case of default. The aviation regulator previously informed the Delhi HC that it lacks the authority to intervene in the employment agreements between pilots and airlines, in response to a plea by budget airline Akasa Air seeking action against those who left without serving their mandatory contractual notice period.
27.09 / 10:47
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NOT
Not disclosing foreign shares, investments, assets in your ITR can lead to penalty of Rs 10 lakh
Black Money Act, 2015. As per The Times of India report, a Mumbai Income Tax Appellate Tribunal (ITAT) levied a penalty of Rs 10 lakh for each year where foreign shares and other assets were not reported in the 'Schedule FA' of the ITR on the individual. An individual is mandatorily required to fill schedule FA of the ITR if they had invested in foreign assets (such as foreign shares, foreign company mutual funds etc.) directly or have held employee stock options (ESOPs) of foreign companies. «Section 43 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 requires a resident individual to provide information of his foreign assets located outside India in the ITR. If he fails to do so the Assessing Officer may levy a straight penalty of Rs 10 lakh on such person.
27.09 / 10:21
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World Cup 2023, Durga Puja driving surge in hotel, airlines fares in India: Jefferies
RedboxGlobal India on 27 September. Apart from the World Cup 2023, the tenure also coincides with the seasonally strong 3Q for the hospitality industry and the same is likely to benefit both hotels and airlines sectors (including IHCL, and Indigo) in 3Q, said the firm. In the 46 days, 48 matches will take place in 10 different cities in India, where 10 countries are participating.
27.09 / 10:15
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country
Diamond industry associations ask members to temporarily stop import of rough diamonds
diamonds for two months starting from October 15 amid slowing global demand and rising inventories of domestic players. "...demand for loose polished diamonds and jewellery from large consuming economies such as the USA and China have been materially affected over the last many quarters, on the back of all-time highs of 2021 and 2022, with a visible slowdown in orders. «As a result, our country's exports have declined by 25 per cent during January-August, with a similar trend in September.
27.09 / 10:15
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Wealth Redefine unveils strategy to extend offerings to Middle East, aims to grow customer base to 2,000 by 2025
Wealth Redefine, a wealth management and financial advisory firm, is extending its presence to offices in Mumbai, Bangalore and the Middle East by 2025. It is also toying with potential expansion into Kolkata.
27.09 / 09:17
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India, Taiwan likely to sign pact next month for migration of workers: Report
Hindustan Times, adding that a draft memorandum of understanding (MoU) has been finalised after negotiations between the two sides. Taipei is looking towards New Delhi to address the manpower shortage in key sectors such as manufacturing, including factories, construction projects, household workers, and agriculture and fisheries, the sources claimed.
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