City Mumbai Financial News

Opposition bloc I.N.D.I.A in next year's Lok Sabha elections saying the constituents of the newly formed alliance don't consider themselves to be Opposition players anymore. Speaking to reporters in Mumbai on Monday, the former state minister said the whole country was rejoicing the return of Congress leader Rahul Gandhi to the Parliament after the Supreme Court's stay on his conviction in the criminal defamation case over the use of the 'Modi' surname. «We do not consider ourselves to be in the Opposition anymore.

A post shared by Mumbai Police (@mumbaipolice) As reported by ANI, the intention behind this initiative was to communicate the importance of refraining from phone calls while driving, prioritizing safety on the road. The Mumbai Police unveiled a video illustrating a scenario in which an individual engaged in a phone conversation flouts traffic regulations, only to alter their route upon spotting a traffic police officer across the street.

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority (QIA). This is one of the several recent stake sales by billionaire Gautam Adani aimed at cutting promoter-level debt and releasing stock pledges. At current market prices, around ₹31,095 crore ($3.75 billion) is required by the promoters to release the shares pledged by the promoters in five key group firms.

Adani Energy Solutions (AESL), the transmission and distribution business arm of the Adani Group, said it has achieved financial closure for its $1 billion (about ₹8,268 crore) green high voltage direct current (HVDC) link project, which will increase renewable energy supply to Mumbai. The credit facility is part of the $700 million revolving project finance facility tied up in October 2021 for the company's under-construction transmission assets portfolio.

₹80,000 every month on her dialysis and other costs. “Until last year, her treatment was based on medication. But, one day, she collapsed and had to be hospitalized, Now, she needs dialysis thrice a week.

Railway Protection Force (RPF) constable Chetan Singh till August 11 (rpt August 11) for allegedly shooting dead his senior colleague and three passengers on a moving train. The Government Railway Police (GRP) sought the extension of his custody for seven days, saying they need to identify the witnesses and scan CCTV footage.

₹6,600-6,800 over the corresponding 2019 figures. For the month, the most growth in room occupancy was seen in metro cities of New Delhi, Mumbai, Kolkata, Chennai and Kochi, of up to 5%.

BEST remained off roads on Monday as drivers of the private bus operators continued their strike for the sixth day over salary hike and other demands, officials said. Sunil Vaidya, spokesperson of the Brihanmumbai Electric Supply and Transport (BEST), said the public transport body operated 603 wet leased buses with its own drivers on various bus routes, along with operating around 1,390 of its own buses.

New Delhi: Adani Energy Solutions on Monday announced the successful financial closure for its $1 billion Green HVDC link project, which will enable supply of more renewable power to the city and support its rising electricity demand. The credit facility is part of the $700 million revolving project finance initiative tied up in October 2021 for AESL’s ongoing transmission assets portfolio.

Adani Energy Solutions Limited (AESL) on Monday announced financial closure for its $1 -billion green high voltage direct current (HVDC) link project. It will enable further ‘greening’ of the Mumbai Grid by supplying more renewable power to the city while supporting its rising electricity demand, the company said in its press release. The 80 km multi-faceted project’s construction work for this link will begin in October this year. The credit facility is part of the $700 million revolving project finance facility tied up in October 2021 for its under-construction transmission assets portfolio. The banking consortium for the platform infrastructure financing framework comprised nine international banks including DBS Bank Ltd., Intesa Sanpaolo S.p.A., Mizuho Bank Ltd., MUFG Bank Ltd., Siemens Bank GmbH, Société Générale, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and The Hong Kong Mortgage Corporation Limited.“This link is the need of the hour for the city and will support its growth aspirations. It showcases our commitment to offering Mumbai a brighter and greener future. The project will help accelerate the city’s decarbonization and its net zero journey,” said Anil Sardana, MD of AESL.

RPF Constable Chetan Singh, arrested in connection with the shooting of four individuals aboard the Jaipur-Mumbai Superfast Express last week, called his his wife immediately following the incident, informing her of her newfound responsibility to raise their children independently. As per ToI report, on Saturday, Renu Singh, the spouse of the accused, along with his mother, arrived in Mumbai from Mathura, providing their statements before the Borivali Government Railway Police (GRP). Renu submitted medical records outlining her husband's past treatments, including documentation from a neurological hospital in Mathura.

According to the RBI press release issued on May 19, 2023, “The facility for deposit and/or exchange of Rs2000 banknotes shall be available for members of the public up to September 30, 2023.The facility for exchange of Rs.2000 banknotes shall be provided to all members of the public by all banks through their branches.”

Bharti Airtel, telecom giant on Monday announced its plan to launch ‘Airtel Xstream AirFiber,’ India’s first fixed wireless access (FWA) offering 5G for consumers in Delhi and Mumbai, said the company in its exchange filling. All Xstream AirFiber devices will be manufactured in India under the “Make in India” programme, said the company. Airtel's new launch will be India’s first 5G wireless Wi-Fi solution that will offer internet to consumers in fiber-dark areas. The company hopes to address the last-mile connectivity issue present in both rural and urban India where access to fiber infrastructure is a challenge. At present, fiber-to-home internet services are only connecting only 34 million homes in India, and a very large number of customers struggle for fiber access. The company said that the AirFiber service will be available at a plan starting at Rs 799, which offers up to 100Mbps speed. The plan can be availed for a duration of six months with a one-time refundable security deposit of Rs. 2500.

In a country where women usually bear the financial brunt of divorce and are victims of dowry and domestic abuse, most advice and sympathy are directed towards them. In the process, men are often ignored when it comes to highlighting their financial and legal rights in a divorce, or even when they are victimised in fake cases of abuse and dowry. To gain an upper hand during divorce proceedings, women are known to file fake cases to put pressure on their husbands.

MUMBAI : India is in a bright spot and seeing steady, long-term foreign investment inflows, ​according to P​.D. Singh, chief executive and managing director of corporate banking, India, at JPMorgan Chase Bank. In India, regulators have driven change by disruption and innovation, Singh said in an interview.

MUMBAI : Sovereign gold bond (SGB) holders are poised to earn handsome returns, closely rivalling those from the stock markets, when the first tranche of bonds issued eight years ago matures on 30 November this year. Against an issue price of ₹2,684 per gramme on 30 November 2015, the closing price of 24-carat gold was ₹5,929 per gm on Friday, translating into a compounded annual growth rate (CAGR) of 12%, including the interest component on the bond’s nominal value, adjusted for tax at the highest income slab of 30%.

HDFC Bank picked up about 1 lakh sq ft office space spread across two towers of Blackstone Group backed Nucleus Office Parks' commercial complex One International Center in Mumbai's business district Lower Parel through a long-term lease of five years, said persons with direct knowledge of the development. The deal is the first real estate transaction by the bank following after its merger with the group's non-banking finance company Housing Development Finance Corporation (HDFC), indicating the need for additional space for expanded operations. «The new office will be used for consolidation and expansion of the bank's operations including financial services and credit cards.

MUMBAI : Private equity (PE) and venture capital (VC) funds are slashing the management fees they charge investors to enhance returns, cut investing costs, and attract funds, according to portfolio managers and limited partners. The emergence of multi-fund platforms led several PE and VC firms to move away from the traditional ‘2-20 model’, or 2% management fee and 20% carry, where the fund retains a part of the investment profit upon realization. To be sure, this new trend is seen in firms raising multiple funds with large corpus and smaller ones that are into their subsequent fund cycles.

RBI)," it said. Desai, who would have been 58 on 9 August, took his life on 2 August in his studio. According to the HT news report, he had left 11 audio clippings in a voice recorder that the Raigad police have sent for forensics analysis.

MUMBAI : The Reserve Bank of India’s (RBI) monetary policy committee (MPC) is likely to leave interest rates and policy stance unchanged at its meeting this week, according to a Mint survey of 10 economists. The expected status quo will be in the backdrop of a sharp spike in vegetable prices, uneven monsoon and diverging monetary policies worldwide. All economists expect MPC to keep the repo rate unchanged at 6.5% and retain the stance of withdrawal of accommodation.

Mint. “Next step will be codeshare with Indian companies," Moussa said, adding that the airline is getting ready to initiate discussions for a codeshare as part of the strategy going forward. The airline will operate the direct flight between New Delhi and Cairo four times a week in an Airbus A320neo with a two-cabin service.