City New Delhi Financial News

Maldives President-elect Mohammed Muizzu may give India a headache in its southern neighbourhood in the backdrop of his pro-China leanings and «India out» campaign. However, the new Maldivian President may not be able to push out India's footprints from the archipelago given the historical development partnership and New Delhi's role as the first responder in a crisis. Muizzu was the proxy candidate for jailed former president Abdullah Yameen and may revive China's footprints in Maldives, according to Maldives watchers.

NEW DELHI : The new Goods and Services Tax (GST) regime of 28% tax on online money games, casinos and horse racing has kicked in from Sunday with Union government issuing orders on norms to be followed covering taxes to be collected by Centre and the Union Territories. Some states are in the process of notifying legislative changes for the part of taxes to be collected by them. The new regime kicks in amid intense litigation around the regime that existed till today with Supreme Court last month issuing a stay order on a Karnataka HC decision, favouring an online gaming company.

NEW DELHI : A top government panel has recommended that Bharat Biotech Ltd conduct phase-3 trials of its Japanese encephalitis vaccine for people aged 65 and above, as the disease emerges as a key concern in India. The Hyderabad-based company had asked the Drugs Controller General of India (DCGI) for permission to conduct phase-3 trials in children up to a year old, as was done in phase 1 and 2 trials. However, the expert panel of DCGI said the company may conduct it for older individuals as well, minutes of its meeting showed.

NEW DELHI : This Gandhi Jayanti, we should reflect upon an important observation the Mahatma made about us-versus-them thinking and its corrosive effect on judgement. Too often, he remarked, do we judge others by their worst actions and ourselves by our best principles.

NEW DELHI : The credibility of the Canadian government’s allegations made regarding India’s involvement in the killing of a pro-Khalistan leader remains poor, said US India Strategic Partnership Forum (USISPF) CEO Mukesh Aghi. Aghi, who was at the UN General Assembly session, said the noise around Canada’s allegations had largely died down. In an interview, he stated that the US has chosen to remain largely silent on the allegations given its sizeable political and economic interests in India.

NEW DELHI : The debt resolution capacity under Insolvency and Bankruptcy Code (IBC) should be stepped up by more than three fold to handle about 1,000 cases a year, said a senior government official. Speaking at seventh foundation day of Insolvency and Bankruptcy Board of India (IBBI), the rule maker and regulator, ministry of corporate affairs secretary Manoj Govil said pace of debt resolution under IBC was steadily increasing and expectation is that number of corporate rescue will go up to 300 cases this financial year from 180 cases last financial year.

NEW DELHI : Following an uneven monsoon, demand for work under the national rural jobs scheme has soared, while farm revenues have been hit by crop losses and export curbs. Will a dent to rural incomes take the sheen off festive season demand? Mint explores. The Mahatma Gandhi National Rural Employment Guarantee scheme (MGNREGS) promises 100 days of work in a year to every rural family.

NEW DELHI : Online real-money gaming firms, and lawyers representing multiple companies in this sector, labelled the Centre’s way of implementation of the new goods and services tax (GST) rate on online gaming companies unprecedented. The stakeholders of the sector, which has remained under fire for numerous taxation issues through the year, claimed that the Centre’s notification of the new online gaming GST regime—done before all states have fully adopted it—could be used as a precedent for breaking the “one nation, one tax" format of GST going forward, and is also in contravention of the law.

Afghan embassy in India stated that a failure to meet expectations in serving Afghanistan's interests is another crucial factor in shutting off the embassy. India has not recognized the Taliban government, which seized power in Afghanistan in August 2021.

BJP leaders in Manipur in a letter to BJP president J P Nadda stated that public anger and protest is now slowly turning the tide, putting the sole onus of this prolonged disturbances solely into the failure of the government in dealing with the situation. The state unit of BJP has sought all possible help and support to release Moirangthem Anand Singh who was arrested by the NIA in connection with the recent crisis in the state. The National Investigation Agency (NIA) arrested Moirangthem Anand Singh in a case related to a transnational conspiracy by Myanmar based leadership of terror outfits to wage a war against the Government of India by exploiting the current ethnic unrest in the State of Manipur. The case was registered suo moto by the NIA at New Delhi.

Aditi Ashok's fortunes tumbled on the final day as she carded a topsy-turvy 73 to sign off with a silver for India's first medal in women's golf at the Asian Games here on Sunday. Coming into the final day with a commanding seven-stroke lead, Aditi saw the advantage evaporate as she stumbled upon four bogeys and a double bogey against a lone birdie to slip to the second position.

Afghanistan's interests is another crucial factor in shutting off the embassy. "Given these circumstances, it is with deep regret that we have taken the difficult decision to close all operations of the mission with the exception of emergency consular services to Afghan citizens till the transfer of the custodial authority of the mission to the host country," the embassy said. It further said, “This decision, while deeply regrettable, is made after careful consideration, taking into account the historic ties and long." On X, the Afghan embassy in India listed the key factors affecting its ability to continue the mission effectively which include lack of support from the host government, failure to meet expectations in serving Afghanistan's interests, and reduction in personnel and resources.

Afghanistan's interests is another crucial factor in shutting off the embassy. "Given these circumstances, it is with deep regret that we have taken the difficult decision to close all operations of the mission with the exception of emergency consular services to Afghan citizens till the transfer of the custodial authority of the mission to the host country," the embassy said.

Abhishek Banerjee on Saturday gave a clarion call to all political parties and people to stand by the «deprived» people of Bengal, who allegedly did not receive their dues in MGNREGA and other schemes, and urged all to participate in the movement in New Delhi on October 2 and 3. He also claimed that the BJP government at the Centre will be ousted in the coming days and asserted that Bengal will give a befitting reply in coming days as it has given reply in 2021. «It is not a political programme but a fight for the deprived job card holders and all should join,» Banerjee said, adding «the autocratic central government will fall from power.» The job card holders and Trinamool supporters were taken by buses to New Delhi after a special train was reportedly cancelled.

NIA) on Saturday arrested Seiminlun Gangte in a case related to a transnational conspiracy by Myanmar and Bangladesh based leadership of terror outfits to wage war against the Government of India by exploiting the current ethnic unrest in Manipur. The case was registered suo moto by the NIA on 19.07.2023 at New Delhi. NIA stated investigation of RC 24/2023/NIA/DLI by NIA revealed that, Myanmar and Bangladesh based militant groups have entered into a conspiracy with a section of militant leaders in India to indulge in incidents of violence with an intention to drive a wedge between different ethnic groups and to wage war against the Government of India.

Satya MicroCapital has announced raising $60 million from Japan's Sumitomo Mitsui Banking Corporation Saturday close on the heels of its mobilising another $20 million from the French Development Agency’s private sector financing arm Proparco. The funding will help the New Delhi-based micro loan provider to expand its portfolio. Satya has assets under management of nearly Rs 5000 crore. The fund is raised at around 11% rate, an official with the micro lender said.

TMC has arranged special buses to ferry nearly five thousand MGNREGA job cardholders to Delhi for their scheduled protest programme next week against the alleged withholding of funds by the Centre, a party leader said on Saturday. Senior TMC leader Abhishek Banerjee announced on Friday that his party would make alternative arrangements for transporting its supporters to Delhi for the October 3 protest programme, accusing the BJP of creating roadblocks after the request for a special train was denied. «As we were denied a special train, we have made alternate arrangements for special buses to transport the MGNREGA workers to Delhi.

Indian Council for Cultural Relations (ICCR) has coordinated over 300 Cultural programs involving 17000+ artists in 60 plus locations across the country during India’s presidency of G-20 to showcase the rich cultural heritage. The Prime Minister, Narendra Modi released a book on Showcasing Indian Culture at G-20 published by Indian Council of Cultural Relations (ICCR) at Bharat Mandapam, New Delhi last week on the occasion of University Connect grand finale event. ICCR team at G-20, led by Joint Secretary MEA and Deputy Director General ICCR Abhay Kumar, under the guidance of Director General of ICCR Kumar Tuhin, coordinated over 300 Cultural programs involving over 17000 artists in over 60 locations across the country during India’s presidency of G-20. The book showcases the range and diversity of Indian culture presented to the G-20 delegates through the length and breadth of the country. India’s presidency of the G20 provided it with a platform to showcase a whole spectrum of Indian culture and India as a premium destination for tourism.

British High Commission has written to Delhi Police informing them about fraudulent visa agents who operate in and around Delhi and have been assisting customers in Haryana, Gujarat and Punjab to obtain visas on forged documents, said the police on Friday. A case has been registered in the matter, the police added. «The British High Commission in New Delhi has identified fraudulent visa agents that operate in and around Delhi, assisting customers in Haryana, Gujarat and the Punjab. It is thought this agent is connected as part of a wider organised criminal network.

World Cup, India Inc is warming up to bring cricket fever to the workplace. Companies including Godrej & Boyce, Physics Wallah, Urban Company, Shiprocket, The Sleep Company, Simpl, VideoVerse and TheMathCompany have plans to screen matches, with some going beyond to organise World Cup-themed contests, reward employees with passes to some matches, and curate special menus on match days, among other initiatives.

Narendra Modi has extended wishes to Kiran Baliyan who rewrote history by becoming the first woman athlete to win a medal in shot put after 72 years. Kiran clinched a bronze medal in the women's shot put winning the first track and field honour for the country at the Asian Games 2023.