City New Delhi Financial News

NEW DELHI : The government set a minimum export price (MEP) of $1,200 a tonne on basmati rice shipments in a move aimed at reining in domestic prices ahead of elections in key states. The move came a day after it imposed a 20% duty on non-basmati parboiled rice exports, effective immediately. The measures are aimed at ensuring rice prices remain under control after paddy production came under a cloud because of excess rainfall in Punjab and Haryana, and deficient rains in the eastern region.

By Shivangi Acharya

G20 summit in New Delhi in September. The conflict relates to transparency questions related to wife Akshata Murthy’s Infosys shares – massive Bengaluru-based international IT services and consultancy company, worth an estimated 500 million pounds, in a proposed free trade agreement (FTA) with India, reported The Guardian.

New Delhi: The India Meteorological Department (IMD) on Sunday warned that heavy to extremely heavy rainfall will likely persist over Arunachal Pradesh, Assam, and Meghalaya until Monday. This has been attributed to the influence of a cyclonic circulation over west Assam at lower tropospheric levels, coupled with the western end of the monsoon trough aligning along the Himalayan foothills.

Tent Pegging World Cup held in South Africa. Tent Pegging is a cavalry sport wherein the rider is supposed to pick a wooden block, placed on the ground, with a spear.India, who secured a podium finish on Saturday, had finished at the sixth and the seventh spots in the last two editions of the Tent Pegging World Cup. The most recent edition — fourth — was originally slated to be held in 2022, but was delayed due to the COVID-19 pandemic. The International Tent Pegging Federation comprises 29 countries, which earn World Cup qualification while being divided in groups of four teams each. During its general assembly in Oman, a draw was conducted for each national federation to pick a group.

New Delhi: India’s external affairs minister S Jaishankar on Sunday emphasised on the need for “re-globalisation", as the world recovers from shocks caused by the coronavirus pandemic and conflicts. Speaking at the B20 Forum on Sunday, Jaishankar said that this new globalisation will rely on distributed production centres and resilient supply chains. India’s top diplomat stated that the earlier iteration of globalisation, which took place over the last four decades, concentrated economic power and production in certain countries.

The authors are associated with CPR, New Delhi. More stories, raw data, and methodology details about the survey available here: https://bit.ly/3NBu6b3.)

External Affairs Minister S Jaishankar on Sunday made a strong pitch for a «more diversified and more democratic» re-globalisation, saying the Global South can no longer be at the mercy of a few suppliers. Addressing the B20 Summit organised by the CII in New Delhi, he said the Global South was largely reduced to being a consumer rather than being a producer and could not reap the full benefits of economic change. «They (Global South) not only did not reap the full benefits of economic change, but often ended up saddled with unviable debts emanating from opaque initiatives.

Tipra Motha chief Pradyot Kishore Manikya Debbarma met Union Home Minister Amit Shah in New Delhi ahead of the September 5 bypolls to two Tripura assembly segments, a senior BJP leader said. The meeting, which happened on Saturday, assumes significance as the CPI(M) recently held discussions with the regional party and sought its support for the upcoming assembly bypolls to Dhanpur and Boxanagar seats in Sepahijala district. «Shri @PradyotManikyaJi had a fruitful meeting with Hon'ble Home Minister Shri @AmitShah Ji in Delhi today. They discussed regarding the ongoing talks and the rights and welfare of the indigenous people.

₹12.50 crore nett in India on Day 16, report by Sacnilk.com showed. As per the report, the total collection in India business now stands at ₹438.70 crore nett. Moreover, speaking of the film's Day 17 collection, the report added that film may earm somewhere around ₹14.00 crore nett in India taking the film to cross ₹450 crore mark.

The Indian Express, the individual taken into custody has been recognized as Bhakt Banshi Jha (36), originally from Darbhanga, Bihar. According to authorities, Jha was employed as a delivery personnel at a courier company based in New Delhi.

New Delhi: Kotak Mahindra Bank Chairman Uday Kotak on Saturday pitched for businesses to finance climate transition with the government supporting them in terms of gap-funding. Stating that the risk of existential viability of the Earth has to be kept above the business viability, Kotak said businesses need to go beyond capital which expects returns and opt for capital that is ready to take losses. «We are dealing with two counter forces.

New Delhi: The government is considering a proposal to include electric vehicles (EVs) in priority sector lending category, a senior official said on Saturday. «We have received a representation to include EV in priority sector. We will look at reworking the priority sector lending requirements for banks,» the official said adding the issue has to be discussed with the Reserve Bank of India. As per RBI guidelines, it is mandatory for banks to extend 40 per cent of their adjusted net bank credit to priority sector. Currently, seven sectors — agriculture, Micro, Small and Medium Enterprises (MSME), export credit, education, housing, social infrastructure, and renewable energy — are considered for priority sector lending (PSL).

European Union on Saturday said it is awaiting India's response to its proposal for setting up of a dedicated dispute settlement mechanism under the bilateral investment protection pact that is being negotiated along with an ambitious free trade agreement (FTA) by the two sides. The EU's Executive Vice-President and Commissioner for Trade Valdis Dombrovskis told a small group of journalists that both sides are engaged in «intensive» negotiations on the proposed FTA and that «progress» has been made on various issues. But at the same time the top EU official, currently on a visit to India, noted that there is «still a lot of work ahead of us». Asked when the FTA can be sealed, he said the main focus has been on «substance over deadlines». To a question, Dombrovskis said there is no direct impact of New Delhi's trade ties with Moscow on the India-EU trade negotiations, adding: «In a sense, we do not see new topics emerging which could be obstacles for the FTA in this context.» Dombrovskis also allayed New Delhi's concerns over its proposed carbon tax on imports of high-carbon goods like steel, iron ore and described it as «non-discriminatory» measure aimed at protecting the planet. Over four months back, the European Union announced its decision to impose the carbon tax on imports on imports of steel, aluminium, cement, fertilisers and electricity as part of its Carbon Border Adjustment Mechanism (CBAM). The CBAM that will come into effect from 2026 is aimed at achieving net zero greenhouse emissions by 2050. «Given that the CBAM is non-discriminatory and non-trade distorted, it doesn't really affect certain countries' producers' ability to export to the EU.

New Delhi: To ensure uninterrupted power supply for the G20 Summit, authorities are leveraging latest technology and have installed multiple backups at the venue, Pragati Maidan, officials said on Saturday. Power discom BSES has enhanced the supply to Pragati Maidan by establishing three separate power sources to ensure reliability.

Narendra Modi on Saturday underscored the critical role of heritage in driving economic growth and fostering international cooperation. Addressing the G20 Culture Ministers' Meeting via video link, Modi emphasized the unifying potential of culture in bridging diverse backgrounds and perspectives. He highlighted the profound significance of the G20 Culture Ministers' Group's work for the betterment of humanity.

Gadar 2' is busy celebrating as the movie crossed the Rs 400 crore-mark earlier this week. Since its release on August 11, the Sunny Deol and Ameesha Patel-starrer has collected a total of Rs 426.20 crore (nett) on Day 15 at the box-office. While the movie made Rs 284.63 crore in the first week, it recorded the second week at Rs 134.47 crore, according to production house Zee Studios. With the immense success of the movie, the 'Gadar 2' team has all the reasons to celebrate. On Friday, the lead actor of the movie attended a success party with his actor-brother Bobby Deol in Mumbai. Sunny kept it classy in a T-shirt along with a grey coat and a pair of denim trousers, and Bobby opted for a white T-shirt with green loose-fitted trousers. Meanwhile, Patel attended a special screening of her movie, organised by The ELecon Group of Companies. A special screening of 'Gadar 2' — hosted by the makers — has been planned in the New Parliament House, New Delhi, for the Lok Sabha members for three days, starting on Friday at 11:00 a.m.

Sajjan Jindal wants the government to counter American tariffs and Europe’s carbon tax with a similar levy, to level the playing field for companies like his. In an interview in New Delhi, the chairman of JSW Group spoke about the outlook for flagship JSW Steel Ltd. and confirmed a Bloomberg News report about its acquisition plans.On carbon taxes Every region is thinking in terms of their own protection. US has import tariffs on steel.

NEW DELHI: Ahead of G20 Summit in the national Capital, the drug control department of the Delhi government has issued a cautionary advisory to the chemist association and pharmacists within the city. The advisory cautions the association members from engaging in the acquisition and transaction of substantial quantities of medicines classified as narcotics and sedatives.

National Exhibition of Art will be organised at the Lalit Kala Akademi campus here from August 28, veteran painter and Akademi chairman V Nagdas announced on Friday. The annual art event will be inaugurated by actor Manoj Joshi, writer Chandraprakash Dwivedi and artist Vasudeo Kamath at Kamani Auditorium. The National Exhibition of Art (NEA) every year calls for works of visual art from different genres, including painting, sculpture, print making, photography, digital art, video art and installations. The exhibition will showcase works by a total of 20 artists from across India, who were selected for the National Akademi Award from a total of 2,291 applicants with 5,714 entries. The 20 exhibiting artists will receive the award at the inaugural ceremony in the form of a plaque, a certificate and a cash prize of Rs 2 lakh. Talking about the exhibition and award, Nagdas said the NEA is the most anticipated art event of the country and the Akademi Awards bring artists name, fame and future opportunities. The Lalit Kala Akademi (LKA) has devised a few collateral and complementary events to add more colour to the NEA, said the chairman. «There will be illustrated lectures, curatorial walks and interactive gallery sessions at the LKA while the NEA is on.

financial inclusion model and move much faster, said Dinesh Kumar Khara, SBI Chairman, on Thursday. “If you look at it in our country, I think it's a lesson for all of the globe on how the payment system could be so efficient, cheap and economical,” Khara said in an exclusive interview with ET on the sidelines of B20 Summit organized by CII in New Delhi. Khara noted that if Jan Dhan had been a pure vanilla account, people would not have shown so much interest in the scheme and it is the addition of services which has given it nuance. “Now it has gone beyond.