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Sanjay Malhotra, a career civil servant, has become India’s new central bank governor at a time when the country’s economic growth is slowing and inflation is surging

Peak XV Partners and ChrysCapital sold shares worth Rs 606 crore in coworking space company Awfis on Wednesday through block deals. Together, the investors sold 8.5 million shares at Rs 709.90 apiece. This was a nearly 9% discount from Awfis’ closing share price of Rs 778.65 on Wednesday. While Peak XV Partners, which is tagged as a promoter of the New Delhi-based company, sold a 7.6% stake in the company, private equity firm ChrysCapital divested 4.5% stake.

Subscribe to enjoy similar stories. At the Shrine Empire, New Delhi, a scarlet-hued wall comes into sight. It serves as a backdrop to six drawings by artist Sajan Mani.

Subscribe to enjoy similar stories. New Delhi: On 29 June 2020, two weeks after Indian and Chinese troops brutally clashed at the Galwan Valley, India’s ministry of electronics and IT said it was pulling the plug on 58 Chinese apps operational in the country. Among them was TikTok—the short-form video app was hugely popular back then, with over 200 million users in India.

European Union on Tuesday agreed to hold the first-ever ministerial strategic foreign policy dialogue soon to jointly navigate an array of critical challenges including geo-political tensions and Chinese belligerence in the Indo-Pacific and beyond. The decision to institute the strategic dialogue was taken during a phone conversation between External Affairs Minister S Jaishankar and his counterpart from the 27-nation bloc Kaja Kallas. In a post on 'X', Kallas, the EU High Representative for Foreign Affairs and Security Policy, said it was agreed to hold the first ministerial strategic foreign policy dialogue soon. The move to hold the dialogue comes months before India and the EU hold summit-level talks in New Delhi that is expected to see significant outcomes in terms of deepening of cooperation in a range of areas such as security, digital public infrastructure and trade.

Sanjay Malhotra from the Ministry of Finance in New Delhi to the Reserve Bank of India in Mumbai has left a key position vacant, just seven weeks before Finance Minister Nirmala Sitharaman is set to present the Union Budget. This development poses a unique challenge as the government has yet to announce Malhotra's successor for a role that demands extensive expertise in both direct and indirect taxation. Historically, the government has refrained from extending terms of finance officials even in the crucial lead-up to the budget. The vacancy now highlights the delicate balance required to ensure seamless coordination within the finance ministry, which comprises six departments—Revenue, Expenditure, Economic Affairs, Financial Services, DIPAM, and Public Enterprises. Of these, Revenue, Expenditure, and Economic Affairs play critical roles in shaping the Union Budget. This year's scenario is further complicated by recent changes in leadership. DIPAM Secretary Tuhin Kanta Pandey, now serving as the Finance Secretary due to his seniority, is juggling multiple responsibilities, including overseeing the Department of Public Enterprises and the Department of Personnel. For Expenditure Secretary Manoj Govil and Financial Services Secretary M. Nagaraju, the upcoming budget will be their first experience in such a high-stakes exercise.

Subscribe to enjoy similar stories. NEW DELHI : Amazon is taking the fight to India’s quick commerce startups. Starting this December, the e-commerce giant will roll out 15-minute delivery in Bengaluru, targeting top-selling items like groceries and daily essentials.

Subscribe to enjoy similar stories. New Delhi: The Competition Commission of India (CCI) has engaged attorney general R Venkataramani, the country’s highest-ranking law officer, to fight its case against various current and former online sellers of Amazon and Flipkart, including Cloudtail India Pvt Ltd, Appario Retail Pvt Ltd and Samsung India Electronics Pvt Ltd, two people informed about the development said.

Subscribe to enjoy similar stories. The fall of Assad regime in Syria has thrust India into a delicate balancing act. While the streets of Damascus are filled with jubilation, the corridors of power in New Delhi are marked by caution and concern.

dearness allowances (DA) by 3% to 53% for central government employees. The new DA hike has been in effect from July 1, 2024 onwards. Central government employees received higher take-home pay after the government raised a number of additional benefits when the dearness allowance reached 50%. The 7th Pay Commission suggested raising several allowances when the dearness allowance reaches 50%. The hike in DA led to a 25% increase in 13 important allowances from January 1, 2024 onwards. In September, two additional allowances — the nursing allowance and the clothing allowance, were revised for eligible employees. As stated in a July 4, 2024, circular issued by the Employees' Provident Fund Organization (EPFO), «Attention is drawn to the following orders issued by Department of Expenditure/DoPT in the past and request that consequent upon the increase of Dearness Allowance by 4% to 50% w.e.f. 01.01.2024, the payments of the following allowances wherever applicable may be made at enhanced rates of 25% over the existing rates w.e.f. 01.01.2024.”

Bengaluru-based Kreditbee reported a 20% fall in net profit to Rs 20.7 crore for the quarter ended September 30 from Rs 25 crore a year back. Its operational revenue jumped 73% to Rs 518 crore, but its expenses shot up 84% as well, driven by increasing cost of borrowing and impairment on financial instruments. Fintechs that typically cater to the riskiest segment of the country’s consumer base have seen their cost of borrowing go up. Industry insiders peg the increase to be anywhere between 125 basis points and 300 basis points, depending on the spectrum of operations.

Vikram Misri on Monday delivered a categorical message to the interim regime in Dhaka that forward movement in partnership is conditional on Dhaka's constructive approach in safeguarding minority rights and security interests besides protection of cultural, diplomatic and religious properties. «We also had the opportunity to discuss certain recent developments and issues, and I conveyed our concerns, including those related to the safety and welfare of minorities. We also discussed some regrettable incidents of attacks on cultural, religious, and diplomatic properties. A constructive approach on all these issues by the Bangladesh authorities, and we look forward to moving the relationship forward in a positive, forward-looking and constructive direction,» Misri said in his press statement following his meetings in Dhaka, including with the chief adviser. High-level sources told ET that New Delhi is peeved with Dhaka's lackadaisical approach in safeguarding India's interests and the foreign secretary delivered message in unambiguous terms.

First was the presence of legendary designer — famous for his stiletto footwear with its signature red-lacquered soles — Christian Louboutin at the annual Hornbill Festival in Nagaland. Louboutin, on his second visit to the state, had already earlier shared his discovery of 'exceptional savoir-faire and great artisans in Nagaland'. As a guest this time, he investigated Naga fabrics and patterns, and Nagaland's potential for providing high-end couture creations for a global clientele. On a similar note of highlighting an underrated aspect of northeastern enterprise, at last week's Ashtalakshmi Mahotsav in New Delhi, which showcases the region's textile, artisanal and geographical indication products, Union communications minister Jyotiraditya Scindia and MoS for education Sukanta Majumdar — also Scindia's colleague in the northeastern region development ministry — walked the ramp in off-white regional 'designer' jackets with scarf and cravat.

Indian Navy's Russian-manufactured guided missile frigate INS Tushil was commissioned into the force at Russia's coastal city of Kaliningrad on Monday. Defence Minister Rajnath Singh, Chief of Naval Staff Admiral Dinesh K Tripathi and several other senior Indian officials were present at the commissioning ceremony. INS Tushil is expected to significantly bolster the Indian Navy's operational capability in the Indian Ocean, a region that has witnessed increasing forays by China's PLA Navy in the last few years. The warship has been constructed in Russia as part of an over USD 2.5-billion deal that New Delhi had inked with Moscow in 2016 for four stealth frigates for the Indian Navy.

Rashmi Saluja, the executive chairperson of Religare Enterprises, earned ₹68.86 crore in gross remuneration in FY24, according to the company's annual report released on Saturday. This makes her the third-highest-paid professional to head a company in the BFSI (banking, financial services, and insurance) sector in FY24 and the seventh-highest overall in India, surpassing the gross remuneration of Infosys CEO Salil Parekh, L&T's SN Subrahmanyan and Satish Pai of Hindalco. In the BFSI sector, Abhay Bhutada, the former managing director of Poonawalla Fincorp took home ₹241 crore in FY24 while Rajeev Jain of Bajaj Finance earned ₹101 crore.

Subscribe to enjoy similar stories. New Delhi: A surprisingly warm November led to a slow start to winter apparel sales, but a steady dip in temperature recently has boosted demand, bringing relief to retailers. Unpredictable weather patterns continue to pose challenges for inventory management, as retailers in North India now face shorter, but more intense winter seasons.

The Department of Industries, Government of Bihar, will host the "Bihar Business Connect 2024 Ambassadors' Meet" on December 9, 2024, in New Delhi, according to an official statement. The event will be inaugurated by Samrat Chaudhary, Deputy Chief Minister and Finance Minister of Bihar.

Subscribe to enjoy similar stories. New Delhi: Do you collect luxury leather, suede or satin shoes or are you a big sneakerhead? You may have to wait for several months for a new pair. Shelves at luxury shoe boutiques across India may turn sparse in the coming weeks as India’s mandatory licensing regulations that kicked in August are increasing costs and delaying stock arrivals.

objectionable remarks made against Bhagat Singh in Pakistan and lodged a strong protest with Islamabad on the issue, the government said in Lok Sabha on Friday. Minister of State for External Affairs Kirti Vardhan Singh said New Delhi has also been raising with Islamabad issues «concerning attacks on cultural heritage, growing intolerance and lack of respect for minority communities in Pakistan.» «The government of India has noted the recent reports regarding objectionable remarks made against Shaheed Bhagat Singh in Pakistan and has lodged a strong protest with the government of Pakistan on the incident through diplomatic channels,» he said. Singh was responding to a question.

Subscribe to enjoy similar stories. New Delhi and the National Capital Region (NCR) is beset by problems, with the unbearable amounts of atmospheric pollution being the most acute. But the crisis of livability that the city faces isn’t just confined to this.

Delhi deals with one of its worst air quality crises, five-star hotels in the capital have begun offering clean air as a premium service, highlighting the severity of the city's pollution. This November, Delhi recorded unprecedented levels of air toxicity, with the Air Quality Index (AQI) staying in the “Very Poor” category every day, peaking at “Severe” and even “Severe Plus” levels on several occasions.