India Financial News

Cognizant TriZetto, a unit of Cognizant Technology Solutions, sued Infosys in a US court, accusing the Indian IT service firm of stealing trade secrets related to its healthcare insurance software. This was the latest of developments in the healthcare verticals of India-centric IT services firms that have grabbed headlines in recent months, for positive or negative reasons. In November last year, the US Supreme Court rejected Tata Consultancy Services' appeal against a District Court of Wisconsin verdict, charging $140 million in punitive damages in a case filed by Epic Systems. The US healthcare software company had accused TCS of stealing its intellectual property when the Indian firm was contracted to implement its software.

Indian Railways is rapidly progressing towards its goal of achieving net zero carbon emissions by 2030, the Railway Board said on Tuesday. According to the Board, it is making efforts to grant net zero status to Railway premises across the country with a focus on meeting Railways' energy needs entirely through renewable energy sources. «The Northeast Frontier Railway zone of Indian Railways has achieved a significant milestone by converting its buildings to net zero carbon emission structures. »The Bureau of Energy Efficiency (BEE), under the Ministry of Power, has honoured six different buildings of the zone with the 'Shunya Label' recognition as Net Zero Energy Buildings," the Board said in a statement.

proxy advisory firm Glass Lewis has advised the shareholders of Godfrey Phillips to vote «against» the special resolution seeking the reappointment of Bina Modi as Managing Director at the Annual General Meeting on September 6. Glass Lewis has backed Samir Modi's presence on the board. Godfrey Phillips India has scheduled its Annual General Meeting on September 6, 2024, in which it has put five ordinary resolutions and one special resolution for approval from its shareholders. As Bina Modi's remuneration exceeds the limits of Rs 5 crore or 2.5 per cent of the net profits of the company, Godfrey Phillips requires a special resolution, which has to be passed from a super majority of 75 per cent of the total votes polled.

Pakistan Billiards and Snooker Association has lodged a formal complaint with the sport's world governing body and the organisers after their squad was denied visas by the Indian High Commission for the IBSF U-18 and U-21 World Championships, which began in Bengaluru on Saturday. A top official of the PBSA said that they couldn't secure visas for their three players, Ahsan Ramazan, Hasnain Akhtar and Hamza Illyas. «We had applied to the Indian High Commission on time after getting all NOCs from our government and Pakistan Sports Board. But they didn't issue visas due to which our squad could not travel to Bengaluru,» Alamgir Sheikh said. He said the three players had recently done very well for Pakistan and had very good chances of doing well in the world events but were deprived of an opportunity.

India and Singapore has set the stage for Prime Minister Narendra Modi's visit to the city-state that will happen soon, its Foreign Minister Vivian Balakrishnan has said. Senior ministers from the two countries held a «productive» round of discussions at the second multi-ministerial roundtable here and explored how the two countries can boost bilateral cooperation in digital, skill development, sustainability, healthcare, connectivity and advanced manufacturing. This was the second time that ministers from Singapore and India met at the India-Singapore Ministerial Roundtable (ISMR) after its inaugural edition was launched in September 2022 by then Deputy Prime Minister Lawrence Wong during a five-day visit to India. Balakrishnan said advanced manufacturing and semiconductors, as well as aviation and maritime connectivity, are the new areas that Singapore and India have added to a high-level platform for discussing ways to enhance bilateral cooperation.

health insurers to bridge gap in coverage and expand their market reach. Moreover, with a working population ratio of nearly 56% as per the latest Annual Periodic Labour survey report, and comprising largely of Gen Y and Gen Z, there is a pressing need for health insurance solutions that are affordable, easily accessible and relevant for young customers. One of the key issues in the current market is the lack of visibility regarding the value proposition of health insurance, leaving many unsure of its immediate necessity.

Tata Motors is set to roll out the internal combustion engine (ICE) version of its Curvv coupe SUV on September 2, 2024. The Curvv, which was unveiled earlier this year in both electric and ICE versions, has already garnered attention with its futuristic design and advanced features.

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The Dara Presidential Initiatives Foundation (hereinafter referred to as the Foundation) participated in the Edinburgh Festival Fringe, one of the most significant cultural events on a global scale, held in Edinburgh on August 20. This year, as part of the festival, the Foundation initiated an event titled 'Fringe Fusion: Kazakhstan & Global Art Partnerships,' aimed at presenting Kazakhstan’s rich cultural heritage and performing arts to the international audience gathered in Edinburgh. This important step became a key part of the Foundation’s strategy to develop Kazakhstan’s creative industries on the international stage.

Congress on Sunday claimed that a combination of slow wage growth and «back-breaking» inflation has caused an unprecedented decline in real wages and said that like the "proverbial ostrich", the government continues to remain blind to the most fundamental challenge faced by the Indian economy. Congress general secretary in-charge communications Jairam Ramesh said a new report by a noted brokerage firm has once again shed light on the truth that the Union Government has consistently denied — real household incomes in India are facing a persistent decline. «A combination of slow wage growth and back-breaking inflation has caused an unprecedented decline in real wages (wages adjusted for price rise) and therefore incomes,» he said in a statement. Ramesh pointed out that several surveys and data sets — including the Annual Survey of Unregistered Enterprises (ASUSE), the Reserve Bank of India's KLEMS data, and the Household Consumer Expenditure Survey (HCES) — have demonstrated financial distress among working class Indians.

Unified Pension Scheme (UPS), that assures a pension of 50% of the salary for those who joined the service after January 1, 2004, under the National Pension System (NPS). This new scheme will take effect from April 1, 2025. NPS subscribers now have the option to switch to the Unified Pension Scheme (UPS), which provides this assured pension starting from the next financial year. The government's plan to transform NPS came against the backdrop of several non-BJP states deciding to revert to the DA-linked Old Pension Scheme (OPS) and employee organisations in some other states raising demand for the same. Here's how UPS, NPS, and OPS will stack up;

Colombo on Monday on a three-day visit to Sri Lanka during which it will also engage in a Passage Exercise with a Sri Lanka Navy vessel. The Indian Navy's frontline warship was welcomed by the Sri Lanka Navy in compliance with naval traditions, the island nation's navy said in a press release. INS Mumbai, a 163-metre-long Destroyer, is manned by a crew of 410 members. This is the ship's first visit to any port in Sri Lanka and will be the eighth port call by Indian ships this year, the Indian High Commission said in a press release on Sunday. Its commander Captain Sandeep Kumar called on the Commander Western Naval Area, Rear Admiral Chinthaka Kumarasinghe at the Western Naval Command Headquarters upon the ship's arrival.

Sebi directs Religare’s board, Saluja to seek approvals for Burman open offer “We are very upset about it. It should not have been done. Accounts have been filed and submitted to the exchanges, so there is no valid reason for pushing the AGM," one of the investors said on condition of anonymity.

ISKCON Temple in Patna on the occasion of the Janmashtami festival, Senior Superintendent of Police (SSP) Rajeev Mishra said that no injuries have been reported and the police brought the situation under control quickly. «The situation is orderly. For half an hour, a huge number of devotees thronged the ISKCON Temple on the occasion of the Janmashtami festival. When the crowd increased, the number of security forces also increased. All senior officers are present on the spot. The program is going on in a very orderly manner. So far, no injuries have been reported,» SSP Mishra told reporters on Monday. On the occasion of the Janmashtami festival, devotees flocked to temples across the country to seek Lord Krishna's blessing on his birth anniversary, with political leaders like Rajasthan CM Bhajanlal Sharma and Gujarat Chief Minister Bhupendra Patel paying their obeisance.

Japan External Trade Organisation organised University Connect, an interactive event here to bring together Japanese businesses that are keen on hiring Indian talent and the best colleges of Karnataka. University Connect is a global campaign to connect with universities outside of Japan in order to encourage students to pursue employment opportunities in Japanese businesses. «This was the first one held in Bengaluru. Ten Japanese companies and seven Indian institutions attended. There was a more than anticipated exchange of view points and excitement. The Japan External Trade Organisation (JETRO) is determined to keep growing its network of universities in Karnataka actively and will do everything in its power to assist Japanese businesses in hiring skilled Indians,» said Toshihiro Mizutani, Director General of JETRO Bengaluru.

Vanathi Srinivasan on Sunday said it «impossible» for the opposition parties NC and PDP to ensure Article 370 restoration but they are fooling people by guaranteeing it in their manifesto for the Jammu and Kashmir assembly elections. Addressing reporters after a meeting of Jammu and Kashmir Mahila Morcha at the BJP headquarters here in the run-up to the assembly polls, Srinivasan said the younger generation in the union territory want a peaceful life and development, which can only be ensured by her party. In its manifesto, the National Conference (NC) mentioned 12 guarantees, including the restoration of Article 370 and Jammu and Kashmir's statehood, while People's Democratic Party (PDP) promised to pursue the restoration of Jammu and Kashmir to its «original status», and advocate for confidence-building measures (CBMs) and regional cooperation between India and Pakistan. In August 2019, the BJP-led government abrogated Article 370, which gave special status to Jammu and Kashmir, and bifurcated the erstwhile state into two Union Territories — Jammu and Kashmir and Ladakh.

Nagarjuna, Telangana Chief Minister Revanth Reddy said his government would not spare those who encroached upon lakes and also crack down on such activities even if they are influential in the society. Speaking at a function by the Hare Krishna Movement, Reddy said he would follow the preaching of Lord Krishna which proclaims that for the good of the people, one should follow Dharma in order to defeat Adharma through a fight. Officials of Hyderabad Disaster Response and Asset Protection Agency (HYDRAA), GHMC, Town planning, irrigation and revenue departments on Saturday removed encroachments in the Full Tank Level of the / Buffer zones of Tammidikunta lake and amongst the many structures removed, N- Convention co-owned by Nagarjuna was also one of the unauthorised structures. The N-Convention is built in the FTL / Buffer zone and has no building permission whatsoever, a government release said. «That is the reason despite pressures, though ( some of our) friends have farmhouses, the HYDRAA was created ( for protecting lakes and government properties). I want to do some good to the people as part of that. The sole objective is to liberate these lakes from the encroachers. We will crush encroachments with an iron hand. Though there are pressures, we will not go back and we will remove those encroachments,» the CM asserted.

debt market so far this month, pushing the net inflow tally in the debt segment to over the Rs 1-lakh-crore mark. Foreign investors' strong buying interest in the Indian debt market can be attributed to India's inclusion in JP Morgan's Emerging Market government bond indices in June this year. According to data with the depositories, Foreign Portfolio Investors (FPIs) injected Rs 11,366 crore in the debt market this month (till August 24).

Recently released Consumer Price Index-Combined (CPI-C) data shows that food inflation, driven by pulses, vegetables and cereals, is outpacing general CPI inflation. While the latter is 3.54%, food inflation is significantly higher at 5.06%. The relationship between retail and food inflation has been a matter of considerable debate, especially in light of the 2024 Economic Survey’s suggestion that food inflation should no longer be included in the inflation target, since it is largely supply driven.

Food delivery giant Zomato has an exciting new feature for customers. Food lovers can now book orders up to two days in advance. Orders can now be scheduled from no less than 13,000 eateries around Delhi, Mumbai, Chandigarh, Lucknow, Jaipur, and Bengaluru if they exceed Rs 1,000. Goyal mentioned that these establishments were chosen due to their history of maintaining ample stock and consistently preparing meals on time. These restaurants have consistently ensured a well-stocked inventory and have shown reliability in their kitchen operations. More restaurants and cities will be included in the future, and the service will soon be available for all orders. «Improve your meal planning by placing orders up to two days ahead, and we’ll ensure timely delivery,» Goyal shared in a social media update.