India Financial News

Delhi Medical Association on Monday moved the Supreme Court, seeking to be made a party in a suo motu case related to the rape and murder of a postgraduate medic at the RG Kar Medical College and Hospital in Kolkata. The national capital-based doctors' body with more than 15,000 members has sought setting up of a committee headed by a former Supreme Court judge to «prepare a module/scheme for protection of doctors and medical service personnel against any violence in the hospitals and the public healthcare centres». A bench led by Chief Justice DY Chandraachud is scheduled to hear as the first matter on Tuesday a suo motu case related to the rape and murder of the postgraduate medic in Kolkata amid the ongoing nationwide doctors' strike over it. The Delhi Medical Association's (DMA) plea, settled by senior lawyer Vijay Hansaria and advocate Sneha Kalita, has urged the top court that the committee could «comprise of the representatives of the Indian Medical Association; National Medical Commission; secretary of the Ministry of Health and Family Welfare, government of India; an officer not below the rank of inspector general of police; resident doctors or representatives of the doctors from RG Kar Medical College and Hospital; members of civil society and such other person as this Hon'ble Court may deem fit and appropriate».

Bangladesh has filed more than a dozen cases so far against Sheikh Hasina since her ouster as prime minister, people familiar with the matter said, alleging that the cases have been filed at the insistence of Hasina's adversary, Bangladesh Nationalist Party (BNP). Last week, Bangladesh's International Crimes Tribunal also launched an investigation against the former PM and nine others on charges of «genocide and crimes against humanity» during the student protest that led to her ouster. The tribunal is a domestic court that deals with the issues of international crimes such as war crimes and crimes against humanity. Last Tuesday, the deposed PM was slapped with a murder case along with six others over the death of a grocery shop worker amid the July unrest. The next day, a case of enforced disappearance was filed against her and several former members of her cabinet, on charges of kidnapping a lawyer in 2015. On Saturday, another case was filed against her, in connection with the death of a student during the protest.

Liquor demand in India remained unchanged while consumption of brandy and rum fell in the June quarter, amid a high base, election-related disruption in supply chain and sales, and consumers cutting back on lower priced tipple. A year earlier, the spirits market had grown 7% in the same quarter. «Last year, we had very high growth quarters in the first half, and then there was a slowdown in the next half. And this year, we are kind of seeing the reverse. So, we are expecting the first half to be steady, a little muted, lower than our aspirations. There is hope that consumption will pick up this season,» United Spirits managing director Hina Nagarajan said on a recent investor call. Whisky, which accounts for two-thirds of the segment, grew 0.4% in volume, while sales volume of brandy and rum fell 1% and 2.4%, respectively, industry executives said, citing latest excise department data. Both vodka (23.7%) and gin (1.4%) posted growth, but on a low base.

National Steel Policy (NSP) in the wake of some advanced economies such as the EU imposing carbon tariff (Carbon Border Adjustment Mechanism) on steel imports and the growing need to decarbonise the sector, officials said. The idea is to assess the impact of the policy on production and usage of the commodity and examine if any tweaks are required in view of the new emerging challenges, they said. «We are reviewing the NSP 2017 and working on stainless steel and green steel policy,» one of the officials said.

gaming and animation in India is bright and Bengaluru is poised to be at the forefront, said Karnataka Minister Priyank Kharge on Monday. The government is committed to supporting startups and SMEs in the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector and establishing the state as a global hub for AVGC, he said. «Government is ready with funds and is willing to partner with anyone. In fact, I am seeing the AVGC industry as a foot in the door for electronics manufacturing for gaming accessories. So, it has the potential to create a parallel economy with respect to manufacturing as well,» said Kharge, who holds the portfolio of Information Technology. The minister unveiled the theme and poster for GAFX 2025, the 6th edition of one of India's most eagerly awaited gatherings in the gaming, digital media, and entertainment industries, which will be held between February 27 and March 1, 2025.

capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve Bank of India’s (RBI) monthly bulletin estimates that envisaged capex will increase significantly to Rs 2.45 lakh crore in 2024-25 from Rs 1.59 lakh crore in 2023-24. “The significant rise in envisaged capital investment of private corporates, based on the projects sanctioned by banks and financial institutions (FIs) during 2023-24, points to upbeat investment cycle. The total cost of projects sanctioned by banks/FIs increased to a record high of Rs3.90 lakh crore. Infrastructure sector continued to attract the major share of envisaged capital investment, led by ‘roads & bridges’ and ‘power’ sectors, reflecting the government push towards infrastructure development,” said an article from officials of RBI’s Department of Statistics and Information Management. The article said that healthy corporate and bank balance sheets, improved corporate profitability, sustained credit demand, rising capacity utilisation, and optimism in business provide conducive environment for private corporates to undertake investments going forward.

Central Water Commission (CWC) is charting a new course with its Vision 2047, focusing on addressing the evolving challenges posed by climate change, its Chairperson Kushvinder Vohra said. In a conversation with PTI, Vohra outlined the commission's strategic plan, which is divided into short-term, mid-term, and long-term goals aimed at bolstering India's water management infrastructure. «We are creating Vision 2047 for ourselves, keeping in view the challenges, especially climate change, which has led to new emerging issues,» Vohra said. He said the strategy involves a comprehensive approach to deal with the immediate, medium, and long-term needs of water management in the country.

19-year-old Chinese-American pilot who is on a worldwide mission to raise funds for childhood cancer research is preparing to land at the Indira Gandhi International Airport in Delhi next week in pursuit of a world record of flying solo to all seven continents. Ethan Guo, born in Tianjin and resident in Florida, developed a passion for aviation at the age of 13 and has since amassed over 700 flight hours. His 'Flight Against Cancer' Guinness World Record attempt mission began in Geneva, Switzerland, to cover over 50,000 miles with more than 75 take-offs and landings across 60 countries — with India scheduled for next week. «The trip has been challenging, but when you care about something, you give it your all and fight for it,» Guo told PTI in a statement from Saudi Arabia.

WeWork founder Adam Neumann sat across from Jamie Hodari on brown leather seats. They were in a private plane headed to Atlanta. Neumann, the charismatic billionaire founder of WeWork, grilled his buttoned-up, awkward seatmate about the success of his rival firm, Industrious, while the two chief executives sipped Bloody Marys.

Union Health Ministry has instructed airports and land port authorities at Bangladesh and Pakistan borders to remain vigilant for international passengers displaying Mpox symptoms, news agency PTI reported. Three hospitals in New Delhi—Ram Manohar Lohia Hospital, Safdarjung Hospital, and Lady Hardinge Medical College—have been designated as nodal centers for the isolation, management, and treatment of Mpox patients. State governments have been asked to identify similar facilities under their jurisdiction. P K Mishra, principal secretary to the prime minister, convened a high-level meeting on Sunday to assess the country's preparedness for Mpox. Officials reported no current Mpox cases in India. According to the current assessment, the risk of a large outbreak with sustained transmission is low.

rural demand driven by improved monsoon prospects along with a rise in urban demand is expected to encourage investments by the private sector that could accelerate overall economic growth. There are some lead indications already of new capacity creation in a few industries and a pick-up in investment intentions, said an assessment of the state of the economy by the Reserve Bank of India economists published in its latest monthly bulletin. Aggregate demand conditions are gathering momentum after some slack in the first quarter of 2024-25. The central bank has projected an economic growth of 7.2 percent in 2024-25. " Rural consumption spending on the back of growing incomes is beginning to drive volume growth in fast moving consumer goods (FMCG), reflecting strengthening fundamentals." said a study by RBI deputy governor Michael Patra and his team published in the Bulletin. The views are those of the authors and not of the central bank.

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telecom operators' suggestion to bring internet call and messaging apps like WhatsApp, Telegram, and Google Meet under the ambit of telecom licences. Broadband India Forum (BIF) President TV Ramachandran, in a statement, said bringing OTT (over-the-top) services under the Telecom Act is in complete violation of Article 14 of the Constitution, which guarantees equal treatment to every person and entity. «Comparing OTT services to telecom services of voice and SMS is completely erroneous and overlooks the vast and critical differences between the two categories,» Ramachandran said. He said telecom service providers enjoy several exclusive and unique rights that include the right to interference-free spectrum, numbering resources, right of way to set up infrastructure etc. However, OTT players neither have these privileges nor do they own the network or control the access to telecom infrastructure.

Tata Consumer Products Ltd on Monday said it has closed its rights issue of Rs 3,000 crore. The company had opened the issue on August 5, Tata Consumer Products Ltd (TCPL) said in a regulatory filing. The meeting of the capital raising committee of the board of the company held on July 23, 2024, approved the terms of the issuance of equity shares face value of Re 1 each by way of rights issue for an amount aggregating up to Rs 2,997.77 crore, it added.

NCLT) gave its approval for the merger of Bengaluru-based Slice with Guwahati-headquartered North East Small Finance Bank. This will pave the way for the final merger of the two entities, after the Reserve Bank of India (RBI)gave the green signal to the deal back in October 2023. The NCLT, Guwahati bench, has sanctioned the scheme of arrangement and amalgamation involving Garagepreneurs Internet Private Limited, Quadrillion Finance Private Limited, Intergalactory Foundry Private Limited, RGVN (North East) Microfinance Limited, and North East Small Finance Bank Limited, said the Tiger Global-backed startup in a statement issued on Monday. While Garagepreneurs is the registered name for Slice, Quadrillion Finance is the in-house non-banking finance company (NBFC) that Slice ran. RGVN (North East) Microfinance Limited is the microfinance business housed within North East Small Finance Bank.

Gujarat Police, undertook searches in multiple states on Monday as part of a money-laundering probe linked to alleged unauthorised streaming of ICC Men's T20 World Cup 2024 matches by a «betting» website. The federal agency said in a statement that 20 premises in Delhi-NCR, Bengaluru (Karnataka), Lucknow (Uttar Pradesh) and Coimbatore (Tamil Nadu) were covered by its officials and those from the Ahmedabad cyber police department in the case against the «magicwin» web portal. The Enforcement Directorate (ED) case, filed under provisions of the Prevention of Money Laundering Act (PMLA), stems from an Ahmedabad police FIR, which stated that a website — magicwin.games — had unauthorisedly hosted, streamed and broadcast matches during the world cup. The broadcast rights for the tournament were given to Star India Private Limited by the International Cricket Council (ICC), the ED said.

Mint, sitting in his office in Bengaluru’s Koramangala neighbourhood. In 2013, he co-founded Citrus Pay, another payments company, and sold it to Naspers-owned PayU in a cash deal worth $130 million in 2016. Rau decided to take the keys from Singh and joined Pine Labs as CEO in March 2020.

index and a fall in crude oil prices which softens India's inflation and trade deficit. The rupee closed at 83.87 against the US dollar, versus its previous close of 83.94/$1 on Friday, LSEG data showed. The currency strengthened to 83.84 during the day, the strongest since 6th August, but dollar demand from public sector banks capped its gains, traders said.

rural economy is emerging as a key driver of the Fast-Moving Consumer Goods (FMCG) sector's revival, hinting at a robust turnaround in aggregate demand after a sluggish start to the 2024-25 financial year. The Reserve Bank of India (RBI) in its monthly bulletin noted that with rising incomes and improving infrastructure, rural consumption is increasingly fuelling volume growth in FMCG products, underscoring the sector's strengthening fundamentals. The sector registered an approximate 6.6 per cent volume growth in the first quarter of FY25.

markets regulator said on Monday. The regulator introduced the Sebi Settlement Scheme, 2022, allowing entities to settle their cases. After the scheme closed, the regulator continued legal proceedings against those who did not participate. Some of these entities challenged the decisions by appealing to the Securities Appellate Tribunal (SAT). During a hearing in September 2023, the Tribunal directed that if a new settlement scheme is introduced in the future, the appellants would be eligible to benefit from it, and the scheme would cover their cases.