India Financial News

target for monetary policy rather than switching to core inflation, external members of the central bank's rate panel told Reuters. A suggestion was made in the government's official annual economic report last month to target inflation excluding volatile food prices, which are driven more by supply shortages. The idea has ignited a debate in India over the appropriate target for monetary policy. India adopted the inflation targeting framework in 2016, setting a 4% headline inflation target for the central bank's rate setting panel.

regulator Directorate General of Civil Aviation (DGCA) has slapped a fine of ₹90 lakh on Air India for operating a flight on July 9 from Mumbai to Riyadh with an unqualified crew. Besides, the watchdog has slapped fines of Rs 6 lakh and Rs 3 lakh on Air India's Director of Operations and Director of Training, respectively, for the lapse. «Air India Ltd operated a flight commanded by a non-trainer line captain paired with a non-line-released first officer which has been viewed by the regulator as a serious scheduling incident having significant safety ramifications,» the release said.

potato and rice have started falling. Having remained firm for the last three months, prices of potatoes have fallen by 8 per cent in the last 20 days as the cold storages in Uttar Pradesh and West Bengal are overloaded with potatoes which need to be used up before November. Bengal chief minister Mamata Banerjee in the third week of July had stopped inter-state movement of potatoes and didn't even allow truck movement carrying potatoes from Uttar Pradesh to the north-eastern states resulting in oversupply and prices falling. Prices of potatoes which stood at Rs 36 a kg 20 days ago are now commanding a price of Rs 34 a kg. Even though Mamata Banerjee on last Tuesday allowed inter-state trade of potatoes for the next seven days on the consideration that there will be no shortage of the tuber for the state and the prices will not rise, the potato trade in Uttar Pradesh said that the sudden decision to stop movement of potatoes has disrupted the supply chain.

Waterlogging caused severe traffic congestion in South Moti Bagh and Dhaula Kuan, Delhi. Additionally, the Delhi Traffic Police released a notice stating that waterlogging near GTK Depot was causing traffic issues on GTK Road. There is a traffic diversion in the direction of Wazirabad. Travelers can access the NPL side by traveling on Road No. 51.

PIB Fact Check team confirmed that these SMS messages are completely fraudulent. They emphasized that India Post does not send such notifications regarding PAN card updates and urged the public to stay vigilant against such deceptive practices.The typical fraudulent message might read something like this: "Dear user, your India Post Payments Bank account has been blocked today.

Domestic benchmark index NSE Nifty ended 11.66 points up at 24823.15, while the BSE Sensex closed 33.02 points up at 81086.21.

Karma Energy Ltd.(up 5.00%), Transformers & Rectifiers(India)Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), GE T&D India Ltd.(up 4.75%), Energy Development Company Ltd.(up 4.29%), Kalpataru Projects International Ltd.(up 3.70%), Jyoti Structures Ltd.(up 3.68%), Indowind Energy Ltd.(up 2.64%), Power and Instrumentation(Gujarat)Ltd.(up 2.01%) and Inox Wind Energy Ltd.(up 1.74%) stood among the top gainers.

The NSE Nifty index ended the session 11.66 points up at 24823.15, while BSE Sensex rose 33.02 points to 81086.21.

LT Foods Ltd.(up 4.91%), ADF Foods Ltd.(up 4.58%), JHS Svendgaard Laboratories Ltd.(up 2.74%), Dangee Dums Ltd.(up 1.51%), Gillette India Ltd.(up 1.42%), Mrs. Bectors Food Specialities Ltd.(up 0.99%), Hatsun Agro Products Ltd.(up 0.97%), Hindustan Unilever Ltd.(up 0.82%), Heritage Foods Ltd.(up 0.56%) and Procter & Gamble Hygiene & Healthcare Ltd.(up 0.38%) stood among the top gainers.

Bengaluru may be the ‘Silicon Valley’ of India, this NRI has eyes only for the serene city of Kochi. An Indian-origin man took to Reddit to ask netizens about the ideal city he could settle in, along with his British wife and three-month-old daughter. The Reddit user, named J. Pal, revealed that he was planning to relocate permanently to India in February 2025. He also stated that he was considering making Kochi, a major city in Kerala, their new home. However, he had certain questions. He wanted to know if Kochi had any language-based regionalism like Bengaluru. He was also inquisitive about how safe women were in the city. Following that, as a new parent, he was keen to know if Kochi has quality IGCSE schools for their daughter's education. Users also highlighted that Kochi boasts excellent hospitals and a well-connected public transportation network, including both the metro and the water metro.

Bhavish Aggarwal has rejected claims of copying MapmyIndia, saying the map company was attempting to ride on Ola Electric's listing coattails. The Chairman and Managing Director of Ola brand owner ANI Technologies told PTI that the company has sent legal notice to MapmyIndia but hasn't received any reply from them. «Empty vessels make more sound. These people woke up suddenly someday. Ola Electric is not even in the maps business. In the run-up to Ola electric IPO they just wanted to ride on its coattails. We have also given them legal notice, their reply has not come till date,» Aggarwal said. Ola Electric got listed on the bourses on August 9. The company raised Rs 5,500 crore from its initial public offering.

Emily in Paris as well. What’s different this time is the way Emily, played by Lily Collins, dresses. She looks more Parisian than before, reflecting how her character has matured, influenced by her surroundings.

Cred has received certification from NPCI Bharat Billpay to operate as a customer operating unit (COU) on the Bharat Bill Payments System, the company said in a note on Friday. This certification allows Cred to establish more partnerships with major billers and banks on the BBPS platform, speeding up credit card bill payments made through the app. Additionally, Cred users will gain access to process bill payments across all billers available on the BBPS network, the company said on Friday. Developed by the National Payments Corporation of India (NPCI), BBPS is a unified platform that facilitates all forms of bill payments across India.

Fed Chair's speech at Jackson Hole Symposium, where investors will look for cues on rate cut trajectory in the near future. US Fed chair Powell will speak at the event later on Friday, addressing central bankers across the world at 10 am Eastern Daylight Time (EST). In India, this comes to about 7:30 pm Indian Standard Time (IST).

M3M India on Friday reported a 37 per cent increase in sales of residential and commercial properties in the June quarter to Rs 3,911 crore on strong demand. Its sales bookings stood at Rs 2,854 crore in the year-ago period. Out of total sales bookings in the April-June period of the current fiscal, Rs 2,972 crore pertained to the housing segment and Rs 940 crore to commercial properties, the company said in a statement. During the first quarter of this fiscal, M3M India said the total sales bookings in Gurugram stood at Rs 2,415 crore, while Noida projects contributed Rs 402 crore. Sales of residential plots at Panipat in Haryana were Rs 1,094 crore.

Manzuri, describes his work in a straightforward manner: “I sell orgasms for a living.” This statement, shared during an episode of the 1% Club with finance influencer Sharan Hegde, highlights Ritelin’s mission to challenge societal taboos surrounding sexual health in India. Manzuri, a Goa-based wellness startup, focuses on providing pleasure products for women, aiming to address the stigmatized conversations around sexual wellness. Ritelin explained that Manzuri, launched in 2019-2020, entered a market devoid of trustworthy sources for purchasing sex toys. “When we started, there was no player in the market where women could go and find a trustworthy and reliable source to purchase sex toys from,” he said. Due to the lack of recognition for sex toys in India, Ritelin refers to his company as a wellness startup rather than a sex toy company, noting the country's lag in pleasure technology. On the 1% Club video, Ritelin disclosed his financial status, revealing a liquid net worth of Rs 1.5 crore. His non-liquid assets are valued between Rs 8.5 to Rs 9.5 crore. Ritelin owns a 70% stake in Manzuri, which is valued at Rs 12 crore, bringing his total net worth to between Rs 10 to Rs 12 crore. He also shared that his annual expenditure is approximately Rs 40 lakh.

pharmacy of the world," its pharmaceutical giants are not just keeping pace—they're setting the pace. With the industry projected to leap from a value of $40 billion in 2021 to $130 billion by 2030, the stage is set for unprecedented growth. But as these companies scale new heights, they must also navigate a complex landscape of regulatory hurdles, global competition, and supply chain risks.

Benchmark NSE Nifty closed 11.66 points up at 24823.15 amid buying in frontline bluechip counters.

Beverages major Coca-Cola on Friday said Greishma Singh has been appointed as the new market head for India Southwest Asia (INSWA) Operating Unit. Singh will succeed Arnab Roy, who was recently named the Global Category President, Coca-Cola Trademark. Her appointment will be effective September 1, 2024, according to a company statement. Before this, Singh was Vice-President of Customer and Commercial Leadership (C&CL) for the INSWA Operating Unit. She has been with The Coca-Cola Company for over 15 years and held roles of across marketing, strategy and C&CL in Australia and India markets, it added.

"Auto industry is 1.4 times compared to its pre-COVID level. So, we have to look at what is relatively better when it comes to the valuation and one should look at in that context, especially at this level of markets," says Shreyash Devalkar, Axis Mutual Fund. Nifty FMCG Index is actually at life-high levels. Is this really a right time to perhaps come up with a consumption fund or are you not concerned about valuations at all? Shreyash Devalkar: Actually in the market, most of the indices or most of the stocks are at their premium valuations and they are at their peak valuations per se. Barring, actually, if you look at the re-rating which has happened across the board. So, it has happened across the board. It is like consumer durable companies, say capital goods companies.

July 2024, engineering goods exports to countries like the US, UAE, Saudi Arabia, and Singapore witnessed a positive growth whereas exports to countries like Bangladesh and Russia experienced a decline during this period, according to latest data released by Engineering Exports Promotion Council (EEPC). Among the 25 major destinations for Indian engineering goods, exports showed growth in 10 countries, while 15 countries experienced a decline. The top 25 countries contribute 75.5% of total engineering exports to the country, said EEPC in a statement . At $1.5 billion, engineering goods exports to the US recorded 4.2% year-on-year growth in July this year. Engineering exports to the UAE stood at $625.78 million in July this year, up 65.6% year-on-year. The exports to Saudi Arabia rose 9.2% year-on-year to $412.30 million in July this year.