City New Delhi Financial News
05.12 / 11:59
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beautiful
Myntra brings quick delivery to online fashion, launches 30-minute service
Myntra, India’s largest online lifestyle and fashion retailer, has joined the quick-commerce bandwagon, launching a 30-minute delivery service called M-Now in Bengaluru that it plans to expand to cities like Mumbai, New Delhi and Pune in the coming months. Myntra is entering the segment with an extensive assortment — about 10,000 stock-keeping units (SKUs) to start with — compared with a limited number of lifestyle and fashion products like regular t-shirts and innerwear offered on quick-delivery platforms such as Blinkit, Zepto and Swiggy Instamart. It started a pilot project last month and the service is now live in some areas of Bengaluru. M-Now will deliver fashion and beauty products and accessories within 30 minutes using dark stores, or micro warehouses, run by third parties as well as retail stores of fashion brands, Myntra chief executive Nandita Sinha told ET.
05.12 / 01:49
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COST
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Wedding season blues: Garment makers caution against GST rate hike
Subscribe to enjoy similar stories. New Delhi: An increase in the goods and services tax (GST) rate on certain readymade garments, currently being discussed by a ministerial panel, could be a dampener for the ongoing wedding season, textile manufacturers said. According to estimates from the Clothing Manufacturers Association of India (CMAI), bridal wear accounts for 10-12% of the total clothing market, underscoring its significance.
04.12 / 14:11
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FIVE
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Assam Cabinet meeting decides to ban beef in hotels, restaurants and public places in the state
Assam Cabinet meeting has decided to ban beef in hotels, restaurants and public places in the state. Assam chief minister Himanta Biswa Sarma after the cabinet meeting held in New Delhi said, “What we started three years back consumption of beef was banned within a radius of 5 km of temple, Satra. Today we have taken a step ahead and decided that beef will be banned in hotels, restaurants and will not be served in public places.” He added, “Assam government has passed the Cattle Preservation 2021 Act, and we have had a lot of success.”
04.12 / 05:27
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Digital
Cooper
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International
India & Oman push defence & maritime partnership
Oman have pushed its partnership in defence, energy, maritime and investment sectors at a high meeting meeting held in New Delhi. The 13th round of the India-Oman Strategic Consultative Group (IOSCG) meeting was held on Tuesday. The meeting was co-chaired by Arun Kumar Chatterjee, Secretary (CPV & OIA), Ministry of External Affairs, and Sheikh Khalifa Alharthy, Undersecretary for Political Affairs, Ministry of Foreign Affairs, Sultanate of Oman. Space is another sector where Oman is interested to collaborate with India. During the meeting, both sides reviewed the entire gamut of bilateral relations, including political and strategic cooperation, trade and investment, energy, maritime and defence partnership, digital collaboration, cultural exchange, and people-to-people ties.
04.12 / 04:25
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Reuters
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Courts
International
Pernod Ricard internal probe reveals top bosses in India violated law in deals with Delhi retailers
Pernod Ricard concluded that top executives at its India business violated the law by colluding with alcohol retailers in New Delhi, according to a document seen by Reuters, even as the French giant's representatives denied wrongdoing in court and publicly. PRI told Reuters in January and February 2023 that it «strongly» denies the Enforcement Directorate allegations, calling them «factually incorrect.» As recently as Sept. 4, lawyers for Benoy Babu, a PRI executive named in Shardul Amarchand Mangaldas's report, asked the Delhi High Court to quash the case against him. They said allegations against Babu, who was briefly jailed pending trial last year, were «false and baseless», and authorities were relying on «hearsay evidence». The court has yet to rule on Babu's non-public filing, which was seen by Reuters. He didn't respond to questions from the news agency.
04.12 / 02:47
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Diversity
India, UK convene second 2+2 Foreign and Defence Dialogue in New Delhi
The Indian delegation was led by Piyush Srivastava, Joint Secretary, Europe West, Ministry of External Affairs, and Vishwesh Negi, Joint Secretary, International Cooperation, Ministry of Defence, according to the Ministry of External Affairs press release. Representing the UK were Ben Mellor, India Director, Indian Ocean Directorate, Foreign, Commonwealth & Development Office, and Shimon Fhima, Director Strategic Programmes, Ministry of Defence.
04.12 / 01:27
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Courts
Amid lack of regulation, online gaming in limbo, failing to attract investment
Subscribe to enjoy similar stories. New Delhi: The Centre’s failure in appointing proposed self-regulatory bodies (SRBs) for the online gaming sector has left the industry in limbo, with small firms struggling to get investors and large ones innovating without any legal guardrails to try and rope in more paying consumers.
03.12 / 23:37
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FIVE
Platform
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E-auction of sick business assets on dedicated platform may become compulsory
Subscribe to enjoy similar stories. New Delhi: Auction of assets like land, buildings, plant and machinery belonging to businesses getting liquidated is likely to see a wider public participation, with the Insolvency and Bankruptcy Board of India (IBBI) planning to make these transactions more mainstream.
03.12 / 12:43
UPS
Manufacturing
awards
Trade
country
reports
Steel solution: Govt-industry discuss safeguard duty, Chinese overcapacity, stuck consignments
The issues were taken up at a meeting between Commerce and Industry Minister Piyush Goyal and Steel and Heavy Industries Minister H D Kumaraswamy. Officials said the steel ministry proposed a 25% safeguard duty on certain steel imports to check the influx of steel without payment of any customs duty or at low duty from the Asean nations under an existing Free Trade Agreement (FTA) with India amid Chinese companies setting up large steel manufacturing capacities in the region.
03.12 / 08:01
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Voda Idea's revenue market share at all-time low in Q2FY25
Subscribe to enjoy similar stories. NEW DELHI : Vodafone Idea Ltd’s revenue market share declined to an all-time low of 14.5% for the quarter ended 30 September 2024, as it lost share in all circles despite having reported revenue growth for consistent quarters. Market leaders Reliance Jio Infocomm Ltd and Bharti Airtel Ltd gained at the expense of the country's No.
03.12 / 07:11
UPS
FIVE
security
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Security beefed up at Bangladesh High Commission in Delhi
With the winter session of Parliament underway, Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), which prohibits assembly of five or more people, is in force in the central part of Delhi, the officer said. In Agartala, thousands of people took out a massive demonstration near the Bangladeshi mission on Monday against the arrest of Hindu monk Chinmoy Krishna Das as well as attacks on the Hindu community in Bangladesh.
03.12 / 03:51
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Freedom
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Let’s not blame India’s early policy settings for our failings in mass education
Subscribe to enjoy similar stories. Three-quarters of a century after freedom from British rule, Nehruvian policies continue to animate debates on the extent to which they aided or hobbled the emergence of India’s economy. Even before we made a decisive shift in 1991 to reduce the state’s role, a leftist critique sought to skewer the policy choices of our formative years for investing in elite education at the cost of mass learning.
02.12 / 13:03
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UPS
Action
security
Experts
country
'Deeply regrettable': India on breach of premises of Bangladesh mission in Agartala
Over 50 protesters reportedly entered the premises of the Bangladeshi mission in Agartala, triggering concerns among those present at the complex. «The incident earlier today of the breach of premises at the Bangladesh Assistant High Commission in Agartala is deeply regrettable,» the MEA said.
02.12 / 12:15
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RBI lifts its supervisory restrictions on Sachin Bansal-led Navi Finserv Limited
Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Sachin Bansal's Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies. «RBI had several rounds of interaction with the company for rectification of deficiencies. Now, having satisfied itself based on company’s submissions, and in view of adoption of revamped processes, systems, and the company’s commitment to ensure adherence to the Regulatory Guidelines on an ongoing basis, especially for ensuring fairness in the loan pricing, the Reserve Bank has decided to lift the afore-mentioned restrictions placed on Navi Finserv Limited, with immediate effect,» said RBI in the statement. The central bank on October 17, 2024 had issued directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024.
02.12 / 09:33
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Waters
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social
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BJP to launch campaign to seek public feedback for its Delhi assembly poll manifesto
Meri Delhi Mera Sankalp BJP", party MP Ramvir Bidhuri said on Monday. At a press conference in Delhi, the South Delhi MP also released a phone number and the #bjpsankalp2025 hashtag, inviting suggestions for the party manifesto from people through social media. The Delhi BJP's manifesto chairman for the assembly polls said the meetings with the various sections of the society will be held at the assembly constituency and district levels. Senior party leaders and members of the manifesto committee were given charges for various Lok Sabha constituencies in Delhi — Parvesh Verma was given the charge of Chandni Chowk, Arvinder Singh Lovely New Delhi, Satish Upadhyay East Delhi, Ajay Mahawar North East Delhi, Kailash Gahlot and Abhishek Tandon South Delhi and former Union ministers Harsh Vardhan and Vijay Goel North West Delhi.
02.12 / 02:21
Target
Trade
Bitcoin
Mint Quick Edit | De-dollarization: Trump should target crypto, not Brics
Subscribe to enjoy similar stories. India has stayed off US President-elect Donald Trump’s target range so far, but Brics was the focus of his latest finger-wag.
01.12 / 12:55
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Manufacturing
economy
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Size matters: Decoding Indian manufacturing’s problem of scale
Subscribe to enjoy similar stories. New Delhi: The production-linked incentive (PLI) scheme—one of the ways in which this government was hoping to increase manufacturing in India—is going through a slowdown, with planned expansions to the programme being put on hold.
01.12 / 10:19
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Digital
security
Align
film
Experts
audience
Strategic business moves give Bollywood a new lease of life
Subscribe to enjoy similar stories. NEW DELHI : The tide may finally be turning for the Indian movie business with Dharma Productions' stake sale to Adar Poonawalla and the completion of the JioStar merger, according to experts. The latest film announcements—Farhan Akhtar's 120 Bahadur, Tiger Shroff’s Baaghi 4, Akshay Kumar’s Sky Force, and Shahid Kapoor’s Deva, among others—also indicate the clouds over Bollywood are indeed starting to lift.
01.12 / 09:43
Citi
security
Remark
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Nov
wellness
surfing
India's Adani says his group is committed to compliance after US bribery and fraud charges
Indian tycoon Gautam Adani says his conglomerate is committed to “world-class regulatory compliance" after being indicted in the U.S. on fraud charges and an alleged bribery scheme worth millions of dollars, his first remarks since the accusations surf...
01.12 / 09:07
Citi
Cooper
Fighting
community
Cycling
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Smog and us: Environmental movements need to lead our fight against air pollution
Subscribe to enjoy similar stories. Public attention is like the smog itself. It materializes as winter sets in, envelops the discourse for a few months and begins to dissipate early in the new year.
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