India Financial News

Maldives have signed an agreement to introduce the Unified Payments Interface in the archipelago nation, which will have a «very positive» impact on its tourism sector, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. «Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives,» he said in a post on X. Developed by the National Payments Corporation of India (NPCI), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones.

Ola Electric Mobility on Friday announced that it will be holding its first board meeting after the listing on the exchanges, scheduled for August 14, 2024. “Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that a meeting of the Board of Directors of Ola Electric Mobility Limited (“the Company”) is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter ended June 30, 2024,” the company said in a filing to the exchanges.

HDFC faced a hostile banking landscape following the merger in 2022, HDFC Bank MD & CEO Sashidhar Jagdishan was quoted as saying by a ToI report on August 10. Jagdishan acknowledged that the banking landscape changed dramatically after the lender decided to merge with parent HDFC in April 2022, but he defended the decision. Speaking at the bank’s annual general meeting, Jagdishan highlighted that the global economic situation had shifted, altering their initial growth projections due to tighter liquidity conditions and shifts in consumer preferences. Jagdishan noted that the bank's decision to merge had initially factored in growth rates based on a benign liquidity environment. However, this changed after the Reserve Bank of India (RBI) announced a series of repo rate hikes from May 2022, starting with a 40 basis point increase, in response to rising commodity prices following the Ukraine invasion. These rate hikes, totaling 250 basis points, alongside RBI's measures to drain surplus liquidity, increased deposit costs for banks, impacting HDFC Bank significantly as it needed to raise deposits not only for incremental growth but also to cover HDFC's erstwhile assets.

Parliament by a Congress-led UPA government minister to emphasise that no concept of «national disaster» exists under the rules of the central government. The clarification came amid a demand, including from Leader of Opposition in the Lok Sabha Rahul Gandhi, that the landslide tragedy in Kerala's Wayanad be declared a national disaster. The then minister of state for home and Congress MP from Kerala Mullappally Ramachandran had told the Lok Sabha in 2013 in a reply to a question that «there is no provision to declare a natural disaster as a national disaster», the sources noted. The reply stated that the government of India adjudges a calamity of severe nature on case-to-case basis, taking into account its intensity and magnitude, level of relief assistance, capacity of the state government to tackle the problem, and alternatives and flexibility available within the plan to provide succour and relief etc.

OnePlus Pad 2 with Snapdragon 8 Gen 3 chip launched in India, price starts at ₹39,999: All you need to knowPoco Pad is essentially a rebrand of the Redmi Pad Pro 5G, which was launched in China in the month of April. The first-ever Poco tablet features a 12.1-inch IPS LCD display with a resolution of 2560 x 1600 pixels.

Paris Olympics nears its conclusion, India's presence has dwindled to just two events. On Saturday, wrestler Reetika Hooda will compete in the Freestyle 76kg category while Aditi Ashok and Diksha Dagar will contest in the final round of women's golf. Meanwhile, Reetika Hooda is India's last chance for a seventh medal in women's 76kg wrestling. With the golf events not yielding favorable results on Friday, the focus shifts to Hooda. Golfers Aditi Ashok and Diksha Dagar both finished Round 2 with a 1-under par score. However, they will need exceptional performances in the remaining rounds to challenge the top contenders.

The Prime Minister also took to his X handle on the occasion of World Lion Day celebrated on August 10, to share a few stunning images of the big cats. PM Modi highlighted that in February this year, the Union Cabinet approved the setting up of the International Big Cat Alliance, to bring together all the nations of the world where big cats reside. It seeks to build a holistic approach to boost sustainable development and also support community efforts in this regard. This endeavour, he said received an encouraging response globally.

Donald Trump, former US President and GOP presidential nominee delivered his speech at the Bitcoin 2024 conference, it soon made headlines all across the world. Trump reiterated his plan to establish his country as the “Crypto Capital” and “Bitcoin Superpower” of the world — providing much hope to American crypto enthusiasts. Since Bitcoin was released, it has grown rapidly to become the top new asset class in the world. While world governments did not perceive it as a financial changemaker asset at first, the significant adoption rates globally have forced them to think otherwise. For instance, the US government did not have a high opinion of BTC and other cryptocurrencies in the past decade, but the scenario has changed drastically since then as Trump pledged to create a “strategic reserve” of Bitcoin for the US government. Additionally, Trump raised a significant amount of Bitcoin campaign funding which helped to bolster his claims as BTC price soared thereafter.

Indian markets experienced a marginal recovery from the uncertainties arising from concerns about the unwinding of carry trades, driven by the Yen's rapid appreciation and weak macroeconomic data that fuelled recession fears in the US. However, indices closed the week in red, losing over 1% each. During the week, only 30 smallcap companies offered double-digit returns with Century Enka the top gainer (35%), followed by Authum Investment (34.19%), Symphony (33.53%), and Garware Hi-Tech (26%).

₹2000, you’ve come to the right place. In this article, we’ve compiled a list of the top six budget-friendly gaming headsets available in India. Whether you’re a casual gamer or a competitive eSports player, choosing the right gaming headset is vital for an immersive and enjoyable experience.We recognise the importance of balancing quality with affordability, and this guide is designed to assist you in making an informed choice.

direct plan. Both the plans come with two options — growth and IDCW. It is important for every investor to choose the correct plan as well as option. A growth option is suitable for investors who are not seeking Income Distribution cum capital withdrawal. This option focuses on capital appreciation and compounding impact for the investors. On the other hand, the IDCW option provides investors with regular income in the form of dividends. Regular plan — Mutual funds of regular plans are bought through a mutual fund distributor. In this plan, one may choose to invest in mutual funds with the help of a Mutual Fund distributor/agent in what is termed as a ‘Regular Plan’, according to Association of Mutual Funds in India (AMFI).

Olympics 2024: Reetika Hooda is India's last hope for another wrestling medal at the Paris Olympics 2024. On Saturday, she will face Bernadett Nagy of Hungary in her opening round match at 2:30 p.m. Nagy is a two-time bronze medallist at the European Championships.

investors continued to pour money into equity mutual funds through systematic investment plans (SIPs) and lump-sum allocations. Equity mutual funds, led by thematic funds, received ₹37,113 crore in July, as against ₹40,608 crore in June. Flows through SIPs into mutual funds increased, touching a new monthly record of ₹23,332 crore compared to ₹21,262 crore in the previous month. «A large number of savers are turning investors,» said DP Singh, deputy managing director, SBI Mutual Fund. «Many of them are coming into equity mutual funds through systematic investment plans, to meet their long-term goals.»

Bangladesh Prime Minister Sheikh Hasina Sajeeb Wazed Joy has expressed gratitude to Prime Minister Narendra Modi for his government's quick action following the developments in the neighbouring country which led to her departure. Sheikh Hasina's son also dismissed media reports of a revocation of her visa stating that no one has revoked the visa of the Awami League leader and neither has she applied for political asylum anywhere. In an exclusive interview with ANI, Wazed said «No one has revoked her visa. She has not applied for political asylum anywhere. Those are all rumors.»

High Court has directed the capital markets regulator to disclose the letter that exempted ICICI Securities from the reverse book-building process required for delisting. In a ruling on Wednesday, the court directed the Securities and Exchange Board of India (Sebi) to provide the petitioner-ICICI Securities shareholder Aruna Vinod Modi-with a copy of the exemption letter, subject to a non-disclosure undertaking. The investor had moved the court, contesting Sebi's decision to grant parent ICICI Bank relaxation from rules on delisting the broking firm.

Adani bombshell last year, Hindenburg Research has hinted at another 'big' India reveal. Hindenburg Research on Saturday, in a post on X(formerly Twitter), said, «Something big soon India.» On January 24 last year, Hindenburg Research published a report sharply criticizing the Adani Group just before the planned share sale of Adani Enterprises. The report led to an $86 billion decline in the market value of Adani Group's stocks and triggered a significant sell-off of its overseas listed bonds.

NaBFID), which funds India's infrastructure sector, is raising at least '1,000 crore by issuing a rare 20-year bond, the first of its kind from a development finance institution (DFI) from the country in many years. «The bond will be priced on Monday with a base issue size of '1,000 crore with the option of increasing the size by another '4,000 crore. Insurance companies and pension funds which are the only buyers of this security have already been sounded off,» said a person aware of the issue. The company's debt is rated AAA.

green bonds and also help expand the broader debt market. To enable companies to issue Environmental, Social, and Governance (ESG) bonds locally, the Reserve Bank of India's (RBI) chief general manager Dimple Bhandia talked about the need for an enabling framework for such green bonds within the country, at an Assocham event Friday.

Kirin Holdings Co. wants to overtake entrenched global brands by building a $70 million beer factory and raising fresh funds ahead of a public listing in 2026. B9 Beverages Ltd is building a new brewing facility in the north Indian state of Uttar Pradesh, which, once completed, will become India’s biggest beer factory and expand production, founder and Chief Executive Officer Ankur Jain said in an interview. The company currently leases six brewing units and sells an equivalent of 8 million cases of beer a year. The New Delhi-based company has also appointed investment bank Morgan Stanley to lead another round of fundraising ahead of the IPO.

tech world by storm in the US. A number of the top-tier leadership positions or CXOs in these companies are also held by Indians or those of Indian origin. While the spotlight is on the likes of Microsoft chairman and CEO Satya Nadella and Alphabet CEO Sundar Pichai, the second rung is also filled with Indian Americans who are likely to be the leaders of tomorrow at these companies. They include Apple senior vice president of operations Sabih Khan; Nvidia executive vice president of worldwide field operations Jay Puri and senior vice president of enterprise sales and business development Shanker Trivedi; Tesla chief financial officer Vaibhav Taneja and Google senior vice president Prabhakar Raghavan, who is widely considered to the second most important executive at the search giant. Other prominent executives include Meta vice president of machine learning Sandeep Pandey and vice president of product management Ragavan Srinivasan; storage major Micron’s chief business officer Sumit Sadana; Salesforce president and chief engineering officer Srini Tallapragada; Manish Sharma, chief executive officer, North America, Accenture; or Naga Chandrasekaran, who has been appointed chief global operations officer at global chip company Intel two weeks ago. He replaced company veteran Keyvan Esfarjani who retired after 30 years at Intel.