City Mumbai Financial News

Enforcement Directorate (ED) on Wednesday filed a fresh case of money laundering against Naresh Goyal, the former promoter of Jet Airways. As part of the fresh money laundering case against Goyal and others, the ED also conducted searches on Wednesday, said a report by PTI citing official sources. This move follows the ongoing probe y the Central Bureau of Investigation (CBI) against Goyal.

As the heavy rains lash Mumbai, the government has announced that all schools in the city will remain shut on Thursday (20 July). The order came as the commercial capital of India is battering with continuous rains for last two days.

ED) Wednesday is carrying out searches at eight locations linked to erstwhile promoter of Jet Airways, Naresh Goyal. The agency has registered a fresh money laundering case against Goyal, his wife, Anita and others, sources in the know told ET. These sources added that the searches are being conducted in Mumbai and Delhi including those linked to the Goyals and the erstwhile auditor of the airline.

Mumbai rains have affected the vehicular and train movement in the region with several trains on the Central Line operating only up to Thane and Dombivli on Wednesday afternoon due to a point failure at Kalyan and flooding between the Ambernath and Badlapur sections. An official statement mentioned that train services on the Chhatrapati Shivaji Maharaj Terminus (CSMT)-Belapur route were operational.

informal employees are prioritising factors such as prestige and career potential over wages today, says a Quess Corp report. The report by leading business service provider Quess Corp titled ‘New Collar Generation Report' uncovers the aspirations of India's informal economy post-pandemic.

diamond industry. It is also a testament to India’s entrepreneurial spirit. It will serve as a hub for trade, innovation and collaboration, further boosting our economy and creating employment opportunities," PM Modi said in a tweet.

Mumbai: Building a more inclusive workplace to curtail attrition, improvements in customer service, and a stronger digital infrastructure are some of the priorities at India’s largest private sector lender HDFC Bank, its chief executive Sashidhar Jagdishan said on Wednesday. In a message to shareholders in the bank’s annual report, Jagdishan said that since talent, potential and capabilities can best be harnessed through an enabling culture, the bank has adopted the managerial behaviour architecture of nurture, care and collaborate. The ‘nurture, care, collaborate’ initiative covered over 12,000 managers in FY22 was extended to the senior leadership levels and over 6,000 new managers in FY23.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) national spokesperson Waris Pathan lashed out at Opposition parties for not inviting AIMIM saying that they were “political untouchables” for the 26 parties who formed a coalition and named it ‘INDIA’.

Mumbai may also get a reserved compartment in Mumbai local. In response to a public interest litigation filed in 2022, Indian Railways reportedly said that it is considering the reservation of one luggage compartment specifically for senior citizens in local trains. As per ToI, the PIL highlighted that approximately 50,000 elderly commuters travel daily on suburban trains in Mumbai, facing difficulties in finding seats, as the limited 14 seats dedicated to seniors in the second class are often occupied by younger passengers during peak hours.

Porter, a tech-based on-demand logistics companies, announced the introduction of its Inter-city Courier Services, aimed at transforming the way goods are transported across the country. This tech-enabled Inter-city delivery offering is set to ease the logistics landscape by providing doorstep pickup and delivery services to a wide range of customers, including SMEs, retail businesses, and regular consumers.

Supreme Court has granted regular bail to activist Teesta Setalvad in a case of alleged fabrication of evidence in relation to the 2002 Gujarat riots. The top court added that charge sheet has been filed in case against Teesta Setalvad, therefore no custodial interrogation is necessary.

Piyush Goyal will hold discussions with representatives of top 100 companies on July 22 in Mumbai on ways to increase share of domestic manufacturing and boost the country's exports, an official said. Senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT) including Secretary Rajesh Kumar Singh are also expected to participate in the deliberations. In the discussions, the ministry would seek suggestions from the industry on ways to increase share of manufacturing in India's GDP; increase exports of goods and services; and reforms to further unlock economic development and improve business environment, the official added.

disaster management with immediate effect in Maharashtra. The Meteorological Department has warned of heavy rainfall in many places in the states. “Moderate to intense spells of rain very likely over the districts of Raigad, Thane, Mumbai, Palghar, and Ratnagiri during the next 3-4 hours.

airport handled 4.2 million passengers in June, an increase of 107% from pre-covid levels of June 2019. Of the total passenger traffic recorded in June, the airport witnessed 2.14 million passengers at arrivals and 2.04 million at departures. Total air traffic in June rose 33% on year.

Mumbai emphasized the importance of pets in human well-being while addressing a domestic violence case. The court directed a businessman to provide interim monthly maintenance of Rs 50,000 to his 55-year-old estranged wife, considering the emotional support provided by her three Rottweiler dogs. The woman sought interim maintenance after filing a domestic violence case against her husband of 34 years.

Amrapali Gan, the CEO of UK-based online subscription platform OnlyFans, announced her resignation as the company’s chief executive on Tuesday.In a LinkedIn post, Gan, who led the platform — known for its adult content — for three years, said she was leaving to start her own venture, Hoxton Projects. OnlyFans’ chief strategy and operations officer Keily Blair will head the company. “Spending nearly 3 years at OnlyFans while it echoed throughout the cultural zeitgeist, has been beyond rewarding.

Government and Private schools in Ramban in Jammu and Kashmir will  remain closed on Wednesday due to ongoing heavy rainfall and to ensure the security of the students. The Chief Education Officer, Ramban took to Twitter to inform the public about the schools in the district, emphasizing the importance of safeguarding the students during adverse weather conditions. The decision to close schools for the day comes after similar announcements in neighboring Doda and Kishtwar districts, where heavy rainfall and inclement weather has been causing disruptions.

Indian Meteorological Department (IMD) issued an ‘orange’ alert for parts of Mumbai as the city witnessed heavy rains on Wednesday morning. Heavy to very heavy showers are predicted at some places during the day. Local train services came to a halt between Badlapur and Ambarnath section in Thane district adjoining Mumbai due to water-logging on railway tracks after heavy rains. Train services on the Panvel-Belapur Harbour Line route were affected to a «point failure» at Panvel at 9.40 am, Central Railway's chief public relations officer Shivraj Manaspure said. The services were reinstalled at 10:00 am. Many passengers of the Central railway complained of trains running 10-15 minutes late. Bus services of the Brihanmumbai Electric Supply and Transport (BEST) undertaking were running as per their proper routes and there was no diversion, a civic official said.

Schools and colleges in Raigad and Chandrapur districts of the state have also declared holiday. Raigad District announced the news about the holiday via their official Twitter handle, the tweet read, “In the wake of heavy rains, Collector Dr. Yogesh Mhase has announced a holiday for all schools and colleges in the district today." With the heavy rain warning, the Raigad District Administration has also said that Savitri River, Amba River and Patalganga River in the district has crossed the danger mark.

Monsoon rain LIVE Updates: The India Meteorological Department (IMD) on Tuesday said that a cyclonic circulation is likely to form over the Bay of Bengal in the next 24 hours. IMD Bhubaneswar Director HR Biswas said that heavy to very heavy rains are likely to occur due to the development of cyclonic circulation.Mumbai and its suburbs received moderate to heavy rainfall during the day and the weather department has issued an orange alert for the city for Wednesday predicting heavy to very heavy rainfall at some places, officials said.

Reliance Industries (RIL) shares witnessed minor gains on Wednesday ahead of demerger of Jio Financial Services. Reliance shares opened at ₹2,832 apiece on BSE. At 9:51 IST, RIL shares were up 0.64% at ₹2,842.