City New Delhi Financial News

NEW DELHI : The National Medical Commission (NMC) has put on hold with immediate effect its recent regulation mandating doctors to prescribe only generic drugs or face punishment. These regulations mandated all doctors and medical professionals—private and government—to prescribe generic drugs.

NEW DELHI : India aims to offer all public services through the digital public infrastructure over the next two years, said minister of electronics and information technology Rajeev Chandrasekhar. DPIs will deepen and widen the availability of government-to-citizen services and drive inclusion, he said.

NEW DELHI : The Centre plans to enforce an upper limit of around 50 decibels in a crackdown on loud vehicle horns, a sharp reduction on existing permissible levels, minister of road transport and highways Nitin Gadkari said. Loud, persistent and often-needless blaring of horns remains a bane of Indian roads. The minister said that along with air pollution, noise pollution is a major irritant and poses a serious health hazard for citizens.

NEW DELHI : Industries such as refineries and fertilizer makers may soon have to follow a green hydrogen consumption mandate, with the ministry of new and renewable energy (MNRE) set to approach the union cabinet with a proposal. Addressing the BloombergNEF Summit here, minister for new and renewable energy R.K. Singh said talks are still underway on the green hydrogen consumption mandate level, which is yet to be decided.

N Chandrasekaran, chair, B20 India, Thursday, lauding India’s growth trajectory. “We are the fifth largest economy, and we have a lot of things going for us. Just not in terms of economic growth, but in terms of infrastructure as well,” the chairman of Tata Sons said on the eve of the B20 Summit India 2023, organised by the Confederation of Indian Industry in New Delhi. Chandrasekaran noted that India stood at the cusp of changes happening worldwide. “Be it digital, energy, or supply chain resilience and transition due to geopolitical situation.

New Delhi: Competition Commission of India (CCI) has sought public comments on two schemes under which it will offer settlements in cases, and accept commitments from businesses to change their behaviour in order to avoid an investigation. The government had earlier this year amended the Competition Act enabling CCI to offer these schemes.

yields were off their lows to end little changed on Thursday as the impact from a fall in U.S. yields was offset by caution before the release of the Reserve Bank of India's policy minutes as well as debt supply. The benchmark 7.26% 2033 bond yield ended at 7.1963% after ending the previous session at 7.1927%.

The 69th National Film Awards was announced on Thursday during a press conference by the Jury at the National Media Center New Delhi. The Jury members for National Film Awards handed over the list of awardees for feature, non-feature and best script category to Union I&B Minister Anurag Thakur.

BRICS - Brazil, Russia, India, China and South Africa: 6 more countries become members. The new members include Argentina, Iran, the United Arab Emirates, Saudi Arabia, Ethiopia and Egypt. South Africa's President Cyril Ramaphosa delivered an address on August 24 and declared the names of the new members while announcing the summit's outcomes.

The numbers tell the story. Just before the pandemic, India was spending a paltry 1.2 trillion rupees ($15 billion) on research and development. Since at least 1995, R&D expenditure has remained stuck at around 0.7% of gross domestic product, with less than two-fifths of it coming from the private sector.

MUMBAI/NEW DELHI (Reuters) -India is expected to ban mills from exporting sugar in the next season beginning in October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said. India's absence from the world market would be likely to increase benchmark prices in New York and London that are already trading around multi-year highs, triggering fears of further inflation on global food markets. "Our primary focus is to fulfill local sugar requirements and produce ethanol from surplus sugarcane," said a government source who asked not to be named in line with official rules.

Narendra Modi met South Africa's President Cyril Ramaphosa on the sidelines of the 15th Brics Summit in Johannesburg on Wednesday and discussed ways to strengthen bilateral cooperation in defence, agriculture, trade and health, among other areas. Both leaders reviewed the progress made in bilateral relations and expressed satisfaction at the progress achieved in various fields, including defence, agriculture, trade and investment, health, conservation and people-to-people ties, according to an external affairs ministry readout. Both sides also exchanged views on continued coordination in multilateral bodies and regional and multilateral issues. Ramaphosa expressed support for India's G20 presidency and appreciated New Delhi's initiative to give the African Union full membership of the G20. He conveyed that he looked forward to visiting New Delhi for the G20 Summit. Modi congratulated Ramaphosa on the successful hosting of the Brics Summit and accepted Ramaphosa's invitation for a state visit to South Africa. During the Brics Plenary session, Ramaphosa said he wanted to congratulate India for the Chandrayaan-3 mission.

India and the Association of Southeast Asian Nations (Asean) are likely to revaluate duty cuts, non-tariff measures, safeguard and anti-dumping duties as part of the review of their existing free trade agreement. While the scope of the review of the Asean-India Trade in Goods Agreement (AITIGA) would be decided at the leaders' meeting next month, sources said that the two sides have agreed on exclusion lists, origin rules and technical barriers to trade to be part of the review. New Delhi also sought an evaluation of the services agreement but the grouping is not on board for the same, people familiar with the matter said. The Asean-India Trade in Services Agreement was signed in November 2014 and contains provisions on transparency, domestic regulations, recognition, market access, national treatment and dispute settlement. «India has been asking for a review for more than five years. Asean has agreed for some provisions and there are concerns on others,» said an official. India has asked for a review of the agreement to eliminate barriers and misuse of the trade pact.

NEW DELHI : Contesting claims of a cost overrun in the construction of the Dwarka Expressway by the Comptroller and Auditor General’s (CAG), Union minister for road transport and highways Nitin Gadkari asserted that the project did not experience any cost overrun or corruption. Speaking at the Mint Sustainability Summit 2023 on Wednesday, he, however, added that ministry officials erred in not providing a written response to CAG’s findings. “In the Bharatmala programme, there was no detailed estimated cost.

NEW DELHI, BENGALURU : Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest ₹8,278 crore ($1 billion) into the retail arm of Reliance Industries Ltd (RIL), marking a fresh round of investments into Reliance Retail Ventures Ltd (RRVL) after the country’s largest retailer raised ₹47,265 crore in 2021. QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021.

NEW DELHI : India on Wednesday carved its legacy in space history with the first soft-landing on the moon’s south pole, a tough terrain holding secrets that could one day aid human spacefarers. With this, the country joins the US, Russia and China, the world’s only other nations to have successfully landed on the lunar surface. Applause broke out at the command centre of the Indian Space Research Organisation (Isro) at 6:04pm as Chandrayaan-3’s Vikram lander module—named after Vikram Sarabhai, the father of space research in India—touched down on the south pole, where previous attempts have failed before.

NEW DELHI : Operational creditors, who have previously aggressively initiated bankruptcy proceedings against clients for payment delays, are adopting a less confrontational stance of late. Data from the Insolvency and Bankruptcy Board of India (IBBI) for the June quarter shows that operational creditors, who had outnumbered financial creditors like banks by a wide margin in initiating bankruptcy action against defaulting firms in the five years till FY22, have for the first time fallen behind lenders in invoking the bankruptcy code during FY23.

NEW DELHI : India will supply 14,000 tonnes of non-basmati rice this year to Mauritius and 79,000 tonnes to Bhutan under humanitarian operations, making an exception for two key diplomatic partners. The decision has been taken after India received requests from both the nations to exempt the export prohibition on non-basmati rice, two government officials aware of the matter said. Mint on 20 August reported that after the UN World Food Programme, and three nations—Singapore, Indonesia and the Philippines—had appealed to New Delhi to resume rice exports to their nations following India’s decision to suspend non-basmati white rice shipments to check prices effective from 20 July.

NEW DELHI—India successfully landed its Chandrayaan-3 spacecraft on the moon’s south pole Wednesday, days after a similar Russian mission ended when its probe crashed into the lunar surface. India is the first country to reach that part of the moon’s surface, an achievement expected to kick off a new era of space exploration. Scientists and engineers hope to tap water resources at the lunar south pole to facilitate missions to other parts of the solar system and future efforts for long-term settlements on the moon.

NEW DELHI : Amid rising demand, the Union ministry of power on Wednesday directed imported coal-based (ICB) power plants to operate at full capacity till the end of October.The original directive on this was issued in February when ICB plants were asked to run at full capacity till 15 June. This was extended till September.

NEW DELHI : The number of reported antimicrobial resistance (AMR) cases spiked more than 4.5 times from 25,833 in 2017 to 119,686 till December last year, a report by the health ministry showed. AMR is recognized by the World Health Organization as one of the top 10 global public health threats. The data indicated a rise in such resistance in India as antibiotics have started to fail in patients, resulting in a public health threat.