City New Delhi Financial News

16.11 / 21:33

Digital Platform Mobile Experts MakeMyTrip electronic guidelines RBI bar on two Bajaj Finance products may affect retailers

NEW DELHI : Retailers across the board may suffer after the Reserve Bank of India barred the largest consumer goods financier Bajaj Finance from disbursing loans under two products. On Wednesday, RBI barred Bajaj Finance from lending under its two products—eCom and Insta EMI Card—citing non-compliance with digital lending guidelines. Several retailers that Mint spoke with said this move will significantly impact retailers—both online and offline.

16.11 / 21:33

Provident Manufacturing Tesla show track country reports Tesla does a tango with Indian parts makers

NEW DELHI : Indian auto parts makers are emerging as preferred suppliers to Tesla Inc. as it diversifies away from China, two people familiar with the development said, with the US electric car giant often willing to pay a higher price for the shift. Tesla now sources a range of India-made components from small plastic parts and castings, to complex differential systems used in transmission, and wheel hubs.

16.11 / 21:33

Digital Platform film pandemic Experts audience reports Token releases hit cinemas as OTT mandate kicks in

NEW DELHI : Over the past few weeks, cinemas have been flooded with small-budget films that come with minimal marketing or audience anticipation, resulting in negligible box office returns. Titles such as Aankh Micholi, UT 69, Shastry Viruddh Shastry and Three of Us have made their way to theatres with audiences largely uninformed about their release.

16.11 / 21:33

Gap Mobile economy show cover Mega auto show planned with focus on electric mobility

Alliance (IESA). The focus is on holistic mobility, involving startups in the EV sector," a person close to the developments said on condition of anonymity.

16.11 / 21:33

Target Southern country audience stars cricket T20 cricket league LLC to raise $10mn

NEW DELHI : Legends League Cricket (LLC), a global T20 cricket league with recently retired international cricketers, is looking to raise $10 million to develop the league further, Raman Raheja, a director of Absolute Legends Sports Pvt Ltd and chief executive of LLC, told Mint. Some of the big names in the league are Harbhajan Singh, Gautam Gambhir, and Chris Gayle. The league, which has two formats and runs at two different times of the year, has raised a total of $7 million since its inception in 2022, when the first season of the league was played.

16.11 / 21:33

Platform Mobile President Xiaomi Inside electronic isolate EMIs, pre-used units drive Diwali smartphone sales

NEW DELHI : Refurbished smartphones and no-interest financing schemes spread over two years became the clear demand drivers for retailers in last week’s Diwali sale, which were better than industry expectations, insiders said. The two factors combined to offer a silver lining for India’s smartphone sellers, even as organic demand for smartphones continued to remain tepid at best in the second-largest smartphone market in the world.

16.11 / 18:31

Manufacturing Gap reports Stubble burning hits peak, Delhi chokes

stubble burning hits a late peak, New Delhi continues to choke on one of the longest severe air cycles with AQI persisting over 400. The Centre, meanwhile, once again mulls measures to handle the air pollution with stronger disincentives for farm fi res, subsidies for crop diversification and shorter crop cycle.

16.11 / 14:59

reports travelers Nearly three-fold increase in special train trips this festive season as compared to last year: Railway Minister

Railway Minister Ashwini Vaishnaw on Thursday said there has been a nearly three-fold increase in the number of special train trips this festive season as compared to last year. The railways is operating 6,754 additional train trips this festive season between October 1 and December 31 to clear the rush of passengers as compared to 2,614 in the same period last year, he said. Till date 2,423 trips have been completed and the remaining trips will be made in the coming days, the minister said.

15.11 / 19:39

Citi Aviat Action Airlines Strategy Metro President International International airlines see scope in India as aviation hub

NEW DELHI : Foreign airlines have always seen India as a market that feeds their hubs, but that seems to be changing with key foreign carriers from Asia Pacific seeing India becoming an aviation hub, which can be used to connect Africa and the Middle East from their part of the world. Senior executives from Japan Airlines and Thai Airways said they see the potential of India becoming a hub but it may take some time for this to become a reality.

15.11 / 18:45

Action Strategy Software country reports The plan to keep a lid on food prices is cooking

NEW DELHI : The Centre is prepared with a plan to ensure food security over the coming year, in the wake of an erratic monsoon that disrupted the crop calendar and boosted food prices this year. According to Union consumer affairs secretary Rohit Kumar Singh, this will include sourcing pulses from a variety of countries, intervening quickly and directly in retail markets, and possible export-import related steps, depending on the situation. As part of the plan, the government is working to create a model to predict food prices that will factor in externalities like weather and trade-related measures, Singh said in an interview.

15.11 / 18:33

Digital Platform Strategy WhatsApp Celebrity consequences HUL adds pizzazz so app can help outdo e-comm platforms

NEW DELHI : India’s largest packaged consumer goods company Hindustan Unilever Ltd (HUL) is pushing personalized messages and promotions on its business-to-business app Shikhar to drive engagement for small store owners amid greater competition from online platforms. Shikhar is the company’s business-to-business app that allows millions of shopkeepers to place orders directly with its distributors any time. In FY23—1.2 million retail outlets used the Shikhar app to place orders.

15.11 / 16:23

economy pandemic President country Department Financial Global bodies need to go beyond just financial reforms: DEA secretary Ajay Seth

economic affairs secretary Ajay Seth said on Wednesday. Speaking at a seminar on multilateral institutions for the 21st century, Seth said India’s G20 presidency, which is coming to an end this month, demonstrates the willingness of countries to come together on key global issues despite geo-political differences. It also reflects India's ability to build global consensus in a difficult time.

15.11 / 15:10

Citi Provident Ongoing conflict in Israel and Gaza pose a challenge to IMEC: FM

Nirmala Sitharaman said on Wednesday. Terming the IMEC as one of the most promising connectivity projects, Sitharaman said it will be a win-win situation for all states involved as it enhances transportation efficiency, reduces logistic costs, increases economic unity, generates employment, and lowers Greenhouse Gas emissions, contributing to a cleaner, safer, better world.

15.11 / 14:19

Ripple reports IMEEC will be a win-win for stakeholders, says FM Nirmala Sitharaman

₹14,483 crore ($1.74 billion) for FY25," Sitharaman said. The proposed IMEEC project, which was signed during the G20 leaders summit in New Delhi in September, faces various challenges, including the conflict in Israel.

15.11 / 14:13

Target country reports shock India's food inflation remains above 'comfort' level - official

NEW DELHI (Reuters) — Food inflation in India remains above New Delhi's «comfort» level despite retail inflation easing in October, a government official said on Wednesday.

14.11 / 20:01

Provident FIVE Aware Action Gap stage country CESL tots up 1.4 mn carbon credits but can’t sell them

New Delhi: State-owned Convergence Energy Services Ltd (CESL) has accrued around 1.4 million tonnes of carbon credits under the Gram Ujala scheme in 2022-23. That’s good for its carbon footprint—just as soon as it finds a buyer. Green energy-focussed CESL is yet to sell the carbon credits, although the sale could even finance the government subsidy provided under the scheme.

14.11 / 20:01

Aware Manufacturing country 2020 reports Enel picks HSBC to sell India green portfolio

NEW DELHI : Italy’s Enel Group is looking to sell its entire renewable energy business in India and has hired HSBC for the transaction, two people aware of the development said. The proposed deal may have an equity value of around $300 million, the people said. The portfolio of Enel Green Power India comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW).

14.11 / 20:01

Manufacturing Platform show InoxGFL bets big on battery chemicals in $1 bn investment

NEW DELHI : The InoxGFL Group plans to invest nearly $1 billion across segments, including battery chemicals, green hydrogen and wind energy services, over the next three to four years, a big chunk of which will go into India’s largest battery chemicals factory it plans to build in Gujarat.. In an interview, Devansh Jain, executive director, InoxGFL said the factory investment is in the initial phase of discussions. The business is housed under GFCL EV Products Ltd, a subsidiary.

14.11 / 20:01

Provident Aware Pool Experts show reports resolution Dodgy deals under resolution professionals' lens

NEW DELHI : Bankruptcy resolution professionals (RPs) have stepped up scrutiny of suspect transactions made before bankruptcy filings, moving tribunals to reverse transactions totalling ₹23,700 crore in the September quarter alone. While 24 such questionable transactions—called voidable or avoidance transactions—were flagged to tribunals in the March quarter, it was followed by 76 and 78 in the June and September quarters.

14.11 / 20:01

Provident FIVE show information 2020 reports recommendations BharatPe fraud: EOW spots date discrepancies

NEW DELHI : Recruitment firms linked to BharatPe co-founder Ashneer Grover and his family members used backdated invoices to siphon off funds for work they never did for the fintech unicorn, an investigation by the Economic Offences Wing (EOW) of Delhi Police found. The probe agency also could not trace many firms to which BharatPe had made vendor payments.

14.11 / 20:01

Provident Aware Strategy cover information Department prevention Closure soon in nearly 100 profiteering cases

NEW DELHI : The Competition Commission of India (CCI) will issue final orders on nearly 100 cases of profiteering related to Goods and Services Tax (GST) in the coming six months, a person aware of the matter said, bringing closure to several companies facing charges for years. The Directorate General of Anti-Profiteering (DGAP), part of the tax department, has already completed its investigations, and the CCI is currently adjudicating them, the person cited above said on the condition of anonymity. The commission is expected to rule on more than a dozen cases of profiteering every month.

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