City New Delhi Financial News

07.08 / 17:23

Provident Action show Inside Sebi slashes pending case load in FY23

NEW DELHI : The Securities and Exchange Board of India (Sebi) significantly reduced the number of pending cases in FY23 as the regulator focused on resolving long pending litigation, according to the annual report of the markets regulator. The total number of cases pending before various adjudication officers of Sebi fell to 1,950 in FY23 from 6,924 in FY22, data showed. This reduction in number of pending cases is largely due to a single batch of cases involving trading in illiquid stock options where Sebi had initiated proceedings against more than 13,000 cases.

07.08 / 17:23

Provident Auto OEMs sceptical on PLI payments

NEW DELHI : Companies applying for the automotive and auto components production-linked incentive (PLI) scheme fear they may not be able to meet all of the government’s requirements to receive the incentives this fiscal, multiple industry sources said, citing lengthy, “onerous" and complex procedures. Their scepticism comes even as the ministry of heavy industries (MHI) is keen to start disbursing incentives under the ₹45,000 crore scheme on a quarterly basis.

07.08 / 17:23

COST UPS MET performer country Indian ‘Guyana to buy Indian Dorniers, interested in other defence hardware’

NEW DELHI : Guyana will purchase two Dornier aircraft from India, said Capt. Gerald Gouveia, the South American nation’s National Security Adviser.The Dornier, built by Hindustan Aeronautics Ltd, suits Guyana’s needs for aircraft to improve connectivity, he said in an interview, adding Guyana is also interested in purchasing patrol vessels, a fleet of armoured vehicles and radar systems. Guyana and India will also step up personnel training to improve military-to-military contacts.

07.08 / 16:57

Provident Action show Inside Cases pending with Sebi dip significantly

07.08 / 16:57

UPS Aviat Airlines creditors Jet Airways asked to pay ₹350 crore to creditors by 31 Aug

NEW DELHI : Jet Airways’ new management has to pay ₹350 crore to the Committee of Creditors (CoC), National Company Law Appellate Tribunal (NCLAT) was informed on Monday. The Jalan Kalrock Consortium (JKC) has to pay ₹350 crore before 31 August as a condition precedent. The next hearing is on 18 August.

07.08 / 16:57

Progressive Assurant Inside social Mkt players identify 4 priority areas: Sebi

NEW DELHI : Markets regulator Securities and Exchange Board of India’s (Sebi’s) plans to form industry standards forum is making progress as the industry has conveyed to Sebi four priority areas. Last month, Sebi announced that it will rope in industry support to formulate standards for implementation of specific rules.

07.08 / 16:13

audit Fire safety audit ordered four days before AIIMS-Delhi blaze

AIIMS' old OPD building here on Monday, the institute had ordered a third-party fire safety audit of its premises. According to the August 3 order, the audit by the Central Building Research Institute (CBRI) has already started.

07.08 / 14:41

Align Remark Pride country social exclusive Kingfisher renews partnership with FC Goa as Associate Sponsor

New Delhi: Kingfisher, a United Breweries brand, has renewed its association with FC Goa as an associate sponsor for three more seasons from 2023 to 2026 in the Indian Super League (ISL), the company said in a statement here today. “Goa, being one of the top cultural hubs in the country, has always been an important market for us, and our commitment is to carry on the good times to enhance social connections.

07.08 / 14:27

FIVE Aviat Airlines Boeing Enterprise Honeywell Explainer Mint Explainer: Akasa Air turns 1. What now?

New Delhi: India’s youngest airline Akasa Air completes one year of operations today and is now getting ready to launch international flights as it now has 20 aircraft in its fleet. According to the current regulatory framework, an airline needs to complete five years of operations or must have a fleet of at least 20 aircraft to be eligible to fly overseas. Mint takes a look at where is Akasa headed: The idea of Akasa Air took birth during the year 2020 when industry veteran Vinay Dube approached stock market investor Rakesh Jhunjhunwala.

07.08 / 13:41

Cooper Action Remark Food security: key element of India-Morocco strategic partnership

India-Morocco strategic partnership stands tall on four pillars including that of food security, each representing a key area of collaboration, according to Moroccan Ambassador to India Mohamed Maliki. “The first pillar focuses on economic ties, emphasizing trade and investment to foster sustainable growth and development for both our nations.

07.08 / 11:59

Provident Manufacturing Platform Enterprise show performer MSME sector continues to show resilience and growth: Minister

New Delhi: The Micro, Small, and Medium Enterprises (MSME) sector in India has continued to demonstrate resilience and growth, as per the latest information received from the ministry of statistics & programme implementation and the Directorate General of Commercial Intelligence and Statistics (DGCIS), said minister of state for micro, small, and medium enterprises, Bhanu Pratap Singh Verma. In a written reply in the Rajya Sabha, the minister said, according to the data presented by the Ministry of Statistics & Programme Implementation, the share of MSME Gross Value Added (GVA) in India’s Gross Domestic Product (GDP) displayed a fluctuating trend over the last three years.

07.08 / 10:27

UPS Platform country star Netflix announces new India original ‘Guns & Gulaabs’

New Delhi: American streaming platform Netflix has announced that its new India original called Guns & Gulaabs starring Rajkummar Rao, Dulquer Salmaan and Gulshan Deviah, will premiere on 18 August. Netflix has finally decided to introduce curbs on password sharing in India, a move aimed at building scale as well as ringing in revenue growth, said media experts. However, this could result in significant decline in subscriber numbers, they added.

07.08 / 10:27

UPS Citi Metro Hotel occupancy down sequentially in June

₹6,600-6,800 over the corresponding 2019 figures. For the month, the most growth in room occupancy was seen in metro cities of New Delhi, Mumbai, Kolkata, Chennai and Kochi, of up to 5%.

07.08 / 07:43

UPS Citi Siemens Platform Align financing Mumbai Adani Energy Solutions secures $1 bn financing for HVDC Link project in Mumbai

New Delhi: Adani Energy Solutions on Monday announced the successful financial closure for its $1 billion Green HVDC link project, which will enable supply of more renewable power to the city and support its rising electricity demand. The credit facility is part of the $700 million revolving project finance initiative tied up in October 2021 for AESL’s ongoing transmission assets portfolio.

07.08 / 06:29

UPS Provident September 30 last day to exchange Rs 2,000 at banks; check list of bank holidays for August and September

According to the RBI press release issued on May 19, 2023, “The facility for deposit and/or exchange of Rs2000 banknotes shall be available for members of the public up to September 30, 2023.The facility for exchange of Rs.2000 banknotes shall be provided to all members of the public by all banks through their branches.”

06.08 / 20:05

Citi Provident Lexus show country exclusive Sustained luxury demand sparks global interest

NEW DELHI : With India set to experience one of the fastest growth rates in luxury goods consumption, several global luxury companies are introducing their latest and best collections in the country. Richemont-owned watchmaker Panerai, for instance, has initiated an exclusive preview of its latest luxury watches in India this month to gauge buyer interest in the newest additions to its ‘Radiomir’ and ‘Luminor Due’ collections, some of which are priced as high as ₹50 lakh per piece. These watches were launched at the ‘Watches and Wonders’ show in Geneva.

06.08 / 20:05

UPS Progressive Gap show performer country More women make it to listed company boards, but slowly, shows data

New Delhi: The number of women on the boards of listed companies in the country has seen a steady but incremental increase, shows official data. At the end of FY23, 4,741 women directors were on the board of 3,232 listed companies in the country, data from the ministry of corporate affairs showed. At the end of FY19, listed companies had 3,941 women directors, which went up to 4,054 by the end of FY20 and then to 4,187 by the end of FY21.

06.08 / 20:05

Provident Aware Manufacturing Samsung Xiaomi show Smartphone market to shrink again this year

NEW DELHI : India’s smartphone market is grinding through its second year of contraction, the first time since the market took off 14 years ago, a Mint analysis of data from three market research firms showed. Smartphone shipments that crossed 100 million for the first time in 2015 peaked at 160 million in 2021 before shrinking 10% to 144 million in 2022.

06.08 / 19:21

UPS Provident FIVE Aware Software show Most still choose old tax regime, new one making inroads

NEW DELHI : An overwhelming majority of personal income tax filers have opted for the old tax regime that allows a host of tax exemptions, but the new regime with more flexible tax rates and fewer exemptions is beginning to attract more takers, according to professionals who assist taxpayers in filing their returns. In the just-concluded season for personal income tax return (ITR) filing, 85% of individuals have opted for the old regime, and the rest for the new regime, showed an analysis by leading fintech software as a service (SaaS) company Clear (formerly ClearTax), based on data of tax returns filed using its tax return filing service.

06.08 / 18:37

Provident Aviat Airlines Strategy country Traffic Egypt Air eyes pie of India transit traffic with direct flights

Mint. “Next step will be codeshare with Indian companies," Moussa said, adding that the airline is getting ready to initiate discussions for a codeshare as part of the strategy going forward. The airline will operate the direct flight between New Delhi and Cairo four times a week in an Airbus A320neo with a two-cabin service.

06.08 / 16:25

UPS Provident Digital Aware Platform country Digital registry on organ transplants to streamline donations on cards

New Delhi: In an initiative aimed at regulating organ donation, the government is developing a digital registry on organ transplantation to smoothen the system and make it transparent. The Organ Donation Registry is being developed by the National Health Authority (NHA) and the union health ministry following consultation with the NITI Aayog for an overhaul of the National Organ Tissue Transplantation Organization (NOTTO), which manages and coordinates organ transplantation across the country. This will help eliminate the presence of touts and middlemen.

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