City New Delhi Financial News

NEW DELHI : India’s aircraft maintenance, repair, and overhaul (MRO) units have sought a reduction in rental rates at which the government renews their land leases, Mint has learnt. “The industry has sought intervention by the civil aviation ministry on lease rentals for the MRO industry. The norms state that a new allotment of Airports Authority of India (AAI) land is approved at 40% of prevailing land lease rates for MRO companies.

New Delhi: Just months after raising their bilateral relationship to the level of a strategic partnership, India and Greece are looking to deepen cooperation in defence and shipping, according to persons aware of the matter. The two sides are discussing defence sales by India to Greece, in line with New Delhi’s goal of tripling defence exports to $5 billion over the next few years.

farmers' protest around the national capital borders, Punjab Kisan Mazdoor Sangharsh Committee General Secretary Sarwan Singh Pandher said their meeting with the Centre will be held tomorrow, February 15, at 5 pm. Sarwan Singh Pandher said the farmers want to resolve all the issues peacefully. The meeting comes after two days of chaos that erupted at the Delhi borders as the security forces lobbed tear-gas shells, water cannons and erected barricades to disperse tens of thousands and restrict their entry into the national capital.

₹52.89-lakh crore of top five States and Union Territories (UTs) including Maharashtra, New Delhi, Karnataka, Gujarat and West Bengal accounted for 68 per cent of the mutual fund industry last month, reported Business Line. However, the top-5 States’ share fell marginally from 69 per cent as new entrants in the mutual fund space are making inroads in smaller cities, shows ICRA Analytics data.

NEW DELHI : The Sixteenth Finance Commission (SFC), whose members were appointed last month, held its first meeting on Wednesday to discuss the terms of reference and other matters, the finance ministry said in a statement. The SFC acknowledged the need for wide-ranging consultations with various stakeholders, including state governments, local bodies, Union ministries, and experts, the statement said.

New Delhi: Congress Parliamentary Party chairperson Sonia Gandhi on Wednesday filed her nomination paper for a Rajya Sabha berth from Rajasthan. Accompanied by her children and top party leaders, Gandhi filed her nomination papers before the officials in Jaipur. With this, 77-year-old Gandhi opted out of contesting yet another election to retain her Rae Bareli Lok Sabha seat in UP which she represented five times in a row since 2004.

Tens of thousands of Indian farmers are marching toward the capital to demand guaranteed crop prices, renewing a movement from two years ago that succeeded in getting the government to repeal contentious new agricultural laws

NEW DELHI : The government has yet to take a call on whether to extend the FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) incentives beyond 31 March, two officials privy to the discussions said, even as electric vehicle makers seek certainty on continuation of the scheme that aims to promote clean mobility in the country. The officials cited a global trend where electric vehicle subsidies have been tapering off in major economies, adding that the same shall be done in India.

Congress leader Ashok Chavan on Tuesday joined BJP here in the presence of Maharashtra deputy chief minister Devendra Fadnavis and state BJP president Chandrashekhar Bawankule. While calling him a «coward», the Congress leadership also requested him to reconsider his decision. Chavan's exit on the eve of the Rajya Sabha polls has forced the leadership to burn the midnight oil to prevent a potential split in the party. Chavan is likely to be BJP's Rajya Sabha candidate. However, BJP has not revealed its cards yet, with Fadnavis claiming that the decision would be taken by the leadership in New Delhi. «One of the senior most leaders in the state has joined us and because of his entry, our grand alliance has been strengthened,» said Fadnavis at a press conference.

NEW DELHI : India and the UAE concluded a bilateral investment agreement and also signed a framework agreement on the India-Middle East Economic Corridor (IMEC) during Prime Minister Narendra Modi’s two-day visit to the UAE. Modi met with his counterpart, UAE president Mohamed bin Zayed Al Nahyan, on Tuesday for both one-on-one and delegation-level talks. The bilateral investment agreement came after the two countries signed their Comprehensive Economic Partnership Agreement (CEPA) in 2022.

NEW DELHI : The Adani-Hindenburg saga returned to the Supreme Court on Tuesday with a petitioner seeking a review of the apex court’s decision to dismiss a plea for a separate investigation into allegations against the Adani group. According to the petition filed by lawyer Anamika Jaiswal, which Mint has seen, there are apparent errors in the court’s 3 January judgment.

NEW DELHI : The Union government informed the Supreme Court on Tuesday that it is prepared to engage with the Kerala government on the limits the Centre imposed on the state’s borrowing powers. Senior advocate Kapil Sibal, appearing for the Kerala government, told the court that a state delegation would fly to New Delhi on Wednesday for a dialogue with the Centre.

Maharashtra, Karnataka, Gujarat, West Bengal and New Delhi — witnessed an average growth of around 27-30% in AAUM (average assets under management) in January 2024 on a year-on-year basis, according to a report by ICRA Analytics. In terms of contribution, these 4 states and Union Territory accounted for nearly 68.46% of the total AAUM of Rs 52.89 lakh crore in January 2024, marginally down from a contribution of 69.43% in January 2023, stated the report. The average asset under management of Maharashtra stood at Rs 21.69 lakh crore in January witnessing year-on-year growth of 27% from Rs 17.13 lakh crore in January 2023.

NEW DELHI : Pune-based Serum Institute of India (SII) plans to expand the annual production capacity of the quadrivalent human papillomavirus (HPV) vaccines to around 70 million doses, starting this year, according to a company spokesperson. The company’s plan to expand the vaccine production capacity from 2-3 million doses currently aligns with the government’s efforts to introduce the HPV vaccine against cervical cancer for girls aged 9-14 years, as announced in the interim budget by finance minister Nirmala Sitharaman. “Currently, SII has a production capacity of around 2-3 million doses for the Cervavac vaccine.

Indian authorities have deployed heavy security and barricaded borders points leading to New Delhi to stop thousands of protesting farmers from entering the capital

Unified Payment Interface (UPI) services were rolled out in Sri Lanka and Mauritius on Monday during a virtual ceremony attended by Prime Minister (PM) Narendra Modi and the top leadership of the two island nations, underlying New Delhi's leadership in the Indian Ocean Region. India's RuPay card services were also launched in Mauritius. Lankan President Ranil Wickremesinghe and PM Pravind Jugnauth of Mauritius were present on the occasion. Jugnauth said the co-branded RuPay card would be designated as a domestic card in Mauritius. Calling it a special day, Modi said, «Today we are connecting our historical relations in a modern digital way. This is proof of our commitment to the development of our people. Through fintech connectivity, not only cross-border transactions but also cross-border connections will be strengthened. India's Unified Payments Interface, that is UPI, is now performing a new responsibility — Uniting Partners with India.»

India's quiet multifaceted diplomatic efforts through formal channels and informal talks, besides a meeting between Prime Minister Narendra Modi and the Emir of Qatar, helped New Delhi secure the release of eight Navy veterans who were sentenced to death last year. Achieving the release of the eight Indians, accused of spying for Israel, was a key item on the agenda of the Ministry of External Affairs since last year. The concerned division in the ministry and the Indian embassy in Qatar had worked quiet channels to gain the reprieve, ET has learnt. The presence of veteran Gulf hand as India's ambassador to Qatar — Vipul — helped New Delhi leverage several channels to successfully secure the objective, according to observers. Vipul served as the head of MEA's Gulf division before heading to Doha last year. Simultaneously, the National Security Council Secretariat led by NSA Ajit Doval worked on its channel of contacts in Doha. The matter was handled deftly, and secrecy was maintained till the veterans returned.

If India wants to build a robust computer and electronics manufacturing industry, it needs to shift focus, fast. Instead of concentrating on its domestic market, it should become regionally competitive and export-driven. That would mean recognizing that Vietnam, not China, is its biggest rival.

NEW DELHI : Delhi Lieutenant Governor VK Saxena on Monday approved the proposal for revival of 1,027 posts of vice principals in the Delhi government's Directorate of Education for the vacancy years 2014-15 to 2019. "In a move aimed at ending adhocism and contractual appointments, Saxena has approved the revival of 1,027 posts of vice-principals in DoE.

By Aditya Kalra and Munsif Vengattil

UPI in Mauritius, Sri Lanka: The Unified Payment Interface (UPI) services was launched in Sri Lanka and Mauritius, as announced by the Ministry of External Affairs on February 12 at 1 pm. India has successfully initiated its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, accompanied by the introduction of RuPay card services in Mauritius as part of a strategic endeavour.