India Financial News

“Marriage is a wonderful institution," Groucho Marx quipped, “but who wants to live in an institution?" His joke played on two kinds of set-ups, the latter referring to the one for mental healthcare. On a serious note, Douglass North defined institutions as “the humanly devised constraints that structure political, economic and social interactions." They comprise “both informal constraints (sanctions, taboos, customs, traditions and codes of conduct) and formal rules (constitutions, laws, property rights)." Samuel Huntington, famous for his discredited “clash of civilizations" thesis, held forth a definition based on particulars instead of universals: “Institutions are stable, valued, recurring patterns of behaviour.

Cognizant Technology Solutions is said to have handed out annual salary hikes as low as 1% to some of its employees as the global technology services giant rolled out increments after deferring them by four months. The hikes are as low as 1% and the highest is said to be 5%, at least two people aware of the development told ET on the condition of anonymity. “For a rating of 3, the hike is around 1-3% while a 4 rating has been granted a 4% hike and a 5 rating to an employee is paid an increment of around 4.5% and at the most 5%,” one of the persons said.

IMD) has forecasted cloudy skies with light rain and thunderstorms in the Red Fort area during the morning and forenoon of India’s 78th Independence Day on Thursday, August 15. A few spells of light rain are also expected during the afternoon and night. The maximum temperature is predicted to range between 32 and 34 degrees Celsius, while the minimum temperature will be between 25 and 27 degrees Celsius. Read More: Independence Day 2024 Live Updates IMD has also issued a nowcast valid for the next three hours, indicating no rain in the area, with generally cloudy skies and temperatures ranging between 30 and 32 degrees Celsius.

RBI) is expected to unleash stringent rules, tightening provisioning requirements for project finance, introducing a new expected credit loss (ECL) framework and imposing a higher liquidity coverage ratio (LCR) for deposits to hedge against sharp outflows through digital channels. The central bank is expected to introduce these rules later this year and bankers are worried they will hurt profitability in the medium term. “Banks have given their feedback on all three proposals; we can only hope RBI listens. The project finance norms, particularly, are pretty harsh. If implemented in its current form, it could hurt financing for the sector,” said an executive at a public sector bank. “At a time when India is looking to grow faster and there is no crisis on the horizon, these norms could do more harm than good.” The central bank published a set of draft guidelines in April on project finance.

Independence Day celebrated on August 15th, is a day of great pride and joy for all Indians. It commemorates the historic moment in 1947 when India gained independence from British rule following a long and difficult struggle. This day is not only a time to remember those who fought for the nation's freedom but also a time to reflect on progress made since then and consider the country's future. This day brings communities together to celebrate their common history and culture. Patriotic songs fill the air, traditional foods are enjoyed, and people take part in a variety of events that highlight India's unity in diversity. Schools and colleges organize special programs, and Indians living abroad celebrate with equal zeal, reconnecting with their roots despite their distance. Also Read: ‘Fire Country’ Season 2: Will it release on Netflix? Here’s where you can watch the drama on OTT

Independence Day 2024 Live Updates: Prime Minister Narendra Modi is all set to deliver his 11th Independence Day speech from the ramparts of the Red Fort in Delhi around 7.30 am on Thursday. India is celebrating its 78th Independence Day on August 15, 2024 and all eyes are on the customary speech by the Prime Minister of India.

Har Ghar Tiranga Abhiyan 3.0" is a campaign which summons Indians from across the globe to indulge in reminiscence of India’s rich tapestry and hoist the Tricolor at their dwellings, exemplifying patriotism to a significantly larger degree. With the 78th Independence Day around the corner, the Har Ghar Tiranga Abhiyan 3.0 encourages Indians worldwide to partake in this wholesome nationalistic celebration. Merely living outside India should never restrict an Indian from expressing their love for their motherland. Here’s how you can participate, even from afar.

India Inc is actively pushing to leverage upcoming extended weekends in August and September. Such short breaks can help revitalise employees and boost their productivity, executives say. Executives at travel companies like Thomas Cook, SOTC, and StayVista told ET that working professionals including CXOs are making a beeline to avail quick and snappy breaks during this period. Even companies, at their end, are encouraging their staff to take these microbreaks and return rejuvenated as it increases productivity, executives said.

Indian nationals living in other countries celebrate the joyous occasion with felicity and are full of nationalistic fervour on Indian Independence Day. For individuals living in the United States, the United Kingdom, or any other country, there are a plethora of ways they can celebrate the 78th Indian Independence Day with fanfare, vigour, and a renewed sense of Indian pride in their hearts, even if they are physically away from their motherland.

In a major setback toVinesh Phogat, the Court of Arbitration for Sport (CAS) ad hoc division on Wednesday dismissed the appeal filed by Indian wrestler against her disqualification from Olympic Games final. Vinesh Phogat had filed an application for a silver medal in the women's 50kg event at the Paris Olympics after she was disqualified before the final match due to exceeding the 50kg weight limit.The CAS released a statement to render its verdict which read, "The application field by Vinesh Phogat on August 7 has been dismissed."In a statement, IOA President PT Usha expressed "shock and disappointment at the decision of the Sole Arbitrator at the CAS to dismiss wrestler Vinesh Phogat's application against the United World Wrestling (UWW) and the International Olympic Committee (IOC)."Last week, during the weigh-in, Vinesh was found to be 100 grams over the limit.

Indian Independence Day: Since gaining independence, India has made remarkable strides in the establishment and development of educational institutions, laying the foundation for a strong and progressive nation. These institutions have not only contributed to the intellectual and cultural fabric of the country but have also positioned India as a global leader in various fields of education. Here’s a look at some of the monumental institutions that have shaped India’s educational landscape.

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reported HT Auto.As per the publication, the Thar Roxx is priced starting at ₹12.99 lakh for the entry-level petrol manual variant and ₹13.99 lakh for the base diesel manual model, with all prices reflecting ex-showroom costs. This new model aims to build on the impressive success of the Thar’s original three-door version.Reportedly, this SUV maintains the fundamental design ethos of the Thar lineup but introduces several unique features.

CCI on Wednesday approved the US-based Hewlett Packard Enterprise Company's proposal to acquire Juniper Networks, Inc. HPE specialises in business information technology, offering infrastructure products to support the IT systems of customers, related software to automate and simplify IT operations, and cloud solutions as a service. «The proposed combination pertains to the acquisition by Hewlett Packard Enterprise Company (HPE) of 100 per cent of the outstanding shares of, and sole control over, Juniper Networks, Inc. »The proposed combination is to be carried out by way of a reverse triangular merger through which Jasmine Acquisition Sub, Inc. (a wholly-owned subsidiary of HPE) will merge with and into Juniper, such that Juniper will be the surviving entity and will become a wholly-owned subsidiary of HPE," CCI said in a release.

Golconda Fort in Hyderabad, Chhatrapati Shivaji Terminus in Mumbai, Delhi Secretariat, Bhopal’s Kushabhau Thackeray Convention Center, Mumbai International Airport, Calcutta High Court and Raj Bhavan in Kolkata, and the Brihanmumbai Municipal Corporation headquarters in Mumbai are among the prominent structures that now shimmer with national pride. In Hyderabad, the Golconda Fort, renowned for its architectural beauty, has been meticulously illuminated by Bajaj Electricals. The lighting not only enhances the fort's aesthetic appeal but also honors its historical importance. Several dynasties like the Kakatiyas, Bahmanis, Qutb Shahis, and Mughals have left their architectural imprints on the fort. The fort now stands out even more as a symbol of India's rich heritage and its journey to independence. In Mumbai, the historic Chhatrapati Shivaji Terminus glows with vibrant colored lights. This iconic railway station, a UNESCO World Heritage site, stands as a symbol of the city’s pride and heritage. The introduction of tricolor illumination ahead of Independence Day amplifies its grandeur.

Resident doctors at government hospitals in some states, including West Bengal and Delhi, continued their strike as various doctors' bodies differed over calling off the strike. The Federation of Resident Doctors' Association (FORDA) on Tuesday night called off its strike after meeting Union Health Minister J P Nadda. However, the medics at the central government-run AIIMS-Delhi, the Federation of All India Medical Association (FAIMA), and other Resident Doctors' Associations said that their stir would continue until a central law to curb attacks on medical personnel is implemented and a concrete solution found. In West Bengal, long queues were seen at outpatient department (OPD) ticket counters in government hospitals, where senior doctors joined their junior colleagues in the protest.

Delhi Airport operated by the GMR group has become the first airport in India to successfully achieve Net Zero Carbon Emission Airport status Level 5 certification under the Airport Council International’s (ACI) Airport Carbon Accreditation (ACA) programme. This prestigious certification recognizes the airport's commitment to reaching and maintaining a net zero carbon balance for emissions under its control (Scope 1 and 2), while also extending efforts to influence and report on all other emissions (Scope 3). Delhi Airport's remarkable achievement of Level 5 certification underscores its leadership in sustainability and carbon management. The airport had initially set an ambitious goal to become a “Net Zero Carbon Emission Airport” by 2030. Through relentless efforts, innovative strategies, and proactive initiatives such as the adoption of renewable energy, development of green airport infrastructures, promotion of electric vehicles, and implementation of zero waste to landfill programs, DIAL has met its target well ahead of schedule.

Mehul Choksi's plea seeking records related to the suspension of his passport from the regional passport office. Choksi, an accused in a multi-million dollars scam at the Punjab National Bank, has claimed that he can not return to India as his passport is suspended on the ground of a «security threat to India». The special judge for the Prevention of Money Laundering Act (PMLA) cases S M Menjoge, however, allowed his plea seeking copies of investigation files relevant to decide whether there are sufficient grounds to declare Choksi a Fugitive Economic Offender (FEO).

Vinesh Phogat's petition against her disqualification at the Paris Olympics, Indian Olympic Association (IOA) confirmed on Wednesday. IOA President Dr PT Usha has expressed her shock and disappointment at the decision of the Sole Arbitrator at CAS to dismiss Phogat’s application against the United World Wrestling (UWW) and the International Olympic Committee (IOC). The Indian wrester was disqualified by the IOC for weighing 100 grams more than permissible limit moments before her gold medal bout.

reserves in the month of July in one month since certain Indian government bonds were included in the JP Morgan bond index. Of this, $3 billion worth flows were only for index eligible bonds, said bond market analysts.

₹10,563 crore, while 31 personal guarantors accounting for ₹1,433 crore in defaults by companies approached bankruptcy tribunals on their own for debt resolution, according to data available with Insolvency and Bankruptcy Board of India (IBBI). Lenders in all seek to recover more than ₹2 trillion from personal guarantors since December 2019, when they were brought under the Insolvency and Bankruptcy Code (IBC). Of these, 3,134 cases are in bankruptcy tribunals (National Company Law Tribunal) while 50 are pending in Debt Recovery Tribunals (DRT), showed data from the IBBI.