India Financial News

Mass consumers, who drive low average selling price (ASP) purchases in Indian ecommerce, constitute about 80% of the total online shopper population, marketplace Meesho said in a report. Online Indian mass consumers usually have an annual household income of between Rs 2.5 lakh and Rs 10 lakh, the report added. About a third of such users are also under the age of 25. About 80% of these shoppers come from beyond tier 2 towns, while users beyond tier 4 towns are the most frequent repeat shoppers, across categories such as women’s fashion, footwear, and baby care products. States like Uttar Pradesh and Bihar are leading ecommerce growth in this segment.

Chennai on August 10 (Saturday). It will bring together entrepreneurs, industrialists, policymakers and sectoral experts on a common platform to discuss ways to strengthen the industrial ecosystem in the region. The ET Make in India SME Regional Summit in Chennai will focus on discussing ways to improve the state’s manufacturing and export might. To register for the Chennai summit, click here

Delegated Payments" facility in UPI, an individual (primary user) to allow another individual (secondary user) to make UPI transactions up to a limit from the former’s bank account. UPI limit for tax payments hiked to Rs 5 lakh from Rs 1 lakh: RBI According to the RBI governor Monetary Policy Meeting Statement on Developmental and Regulatory Policies, “The Unified Payments Interface (UPI) has a very large user base of 424 million individuals. There is, however, potential for further expansion of the user base. It is proposed to introduce «Delegated Payments» in UPI. “Delegated Payments” would allow an individual (primary user) to set a UPI transaction limit for another individual (secondary user) on the primary user’s bank account. This product is expected to add to the reach and usage of digital payments across the country. Detailed instructions will be issued shortly.”

Bengaluru a 'Metro' status. Union Minister of State for Finance, Pankaj Chaudhary, explained on Tuesday that under Rule 2A of the Income-tax Rules, 1962, a distinction is maintained between the cities of Mumbai, Kolkata, Delhi, and Chennai, and other places concerning special allowance for residential accommodation under section 10(13A) of the Income-tax Act, 1961. The four designated metropolitan cities have a 50 per cent salary consideration for computing exemption limits, while other cities, including Bengaluru, have a 40 per cent limit, a Bangalore Mirror report stated.

Waqf Act, 1995, aiming to curb the unbridled powers of Waqf Boards, powers that were further enhanced by a 2013 amendment. This move is intended to bring transparency and accountability in the regulation and monitoring of over 8.7 lakh properties controlled by state boards across India and to address issues of corruption. Here’s a comprehensive look at what Waqf comprises and the challenges in managing these assets.

Nifty FMCG and Nifty Pharma have returned 8% and 7.7%, respectively, compared to a 0.11% decline in the broader Nifty. In the 20-stock Nifty Pharma index, 16 stocks have posted positive returns. Of these, five have delivered double-digit returns: Granules India (23.43%), Gland Pharma (14.57%), Torrent Pharmaceuticals (11.69%), Ipca Laboratories (10.72%), and Natco Pharma (10.26%).

Vinesh Phogat has announced her retirement from the sport, a decision she shared through a heartfelt social media post. The 29-year-old grappler, who was disqualified from her gold medal bout in the 50kg freestyle wrestling category at the Paris Olympics, cited a lack of strength to continue her career. Phogat's disqualification occurred when she was found to be 100 grams overweight before the match. This announcement marked the end of her international wrestling career, which saw her becoming the first Indian woman to reach the gold medal bout in her weight class. Bajrang Punia, another renowned Indian wrestler, expressed his support for Phogat. He shared a message on social media, telling her, «Vinesh, aap haari nahi, haaraaya gaya hai (Vinesh, you haven't lost; you have been defeated).» He emphasized that Phogat remains a source of pride for India, not just as a daughter of the nation but also as a symbol of its glory .

Bangladesh is set to get a new, interim government headed by Nobel Peace Prize-winning economist Muhammad Yunus on Thursday, after weeks of tumultuous student protests forced Prime Minister Sheikh Hasina to resign and flee to India. Yunus, 84, Bangladesh's only Nobel laureate and a harsh critic of Hasina, was recommended for the job by the student protesters who led the campaign against Hasina. He was expected to be sworn in as chief adviser along with a team of advisers later on Thursday in an interim government which the army chief said may include 15 members, although discussions on the names continued till late on Wednesday.

rupee rose marginally in early trading on Thursday, aided by gains in most Asian currencies, with dollar-rupee forward premiums also ticking up ahead of the Reserve Bank of India's (RBI) monetary policy decision. The rupee was at 83.93 against the U.S. dollar as of 09:30 a.m. IST, compared with its previous close at 83.9550.

₹15,000 crore. The group has already committed billions of dollars towards green energy investments in Gujarat. Elaborating on its green energy roadmap, RIL said that by 2025 it will establish 20 GW solar capacity for captive needs of round-the-clock power and intermittent energy for green hydrogen.

Every crisis comes twinned with opportunity—not just to solve the proximate problem, but also to effect a paradigm shift, away from the conditions that led to the crisis. So it is with Bangladesh.

Aditya Birla Capital, Aditya Birla Fashion & Retail (ABFRL), Birlasoft, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Hindustan Copper, India Cements, Indiamart Intermesh, LIC Housing Finance, Manappuram Finance and RBL Bank. Chambal Fertilizers & Chemicals and Granules India have moved out of the ban.

LIC, Eicher Motors, RVNL, SAIL, MRF and GRSE. Apart from the above, companies like ABB India, Agri-Tech, Astral, AstraZeneca India, Biocon, Birla Corp, Container Corp, Emkay Global, HCL Infosystems, Minda Corp, Oil India, Page Industries, ZEE Learn among others will also declare their quarterly results.

While it is not easy to find stocks at reasonable valuations in a bull market, Vishal Jajoo, Fund Manager – Equity, ITI Mutual Fund, says growth stocks in India would continue to command a premium for the visibility in earnings that they offer. “The risk of not being in the markets is much higher than the risk of being in the markets. We continue to advocate disciplined investing in markets with a medium to long term view,” Jajoo says.

Gajendra Singh Shekhawat on Wednesday said that political instability in Bangladesh is unfortunate as an elected government was toppled there but government of India is vigilant against any negative impact of the situation here. The minister while speaking on sidelines of a function here in Srinagar said that a country cannot chose it's neighbours but ensured that the borders of India are safe and secure. «Undoubtedly this is unfortunate that there is political instability in our neighborhood and an elected government was toppled like this. An individual can chose everything but not his neighbour,» said Shekhawat. He further stated that «GoI is vigilant and keeping a tab on the situation in the neighborhood keenly. We are aware to fact that this situation (in Bangladesh) should have no negative impact on India.»

Faced with vocal vexation over the removal of indexation benefits for capital gains tax on property sales, the government has amended its budget proposal to restore them. For any property bought before 23 July, the day the budget was presented, people will now have the option of paying long-term capital gains tax at the time of its sale either at the new rate of 12.5% without inflation adjustment via indexation, or at the old rate of 20% with the same gain-reduction formula that prevailed before.

India has been a crucible for some of YouTube’s global product successes, including that of its short video format, Neal Mohan, CEO of the Google-owned platform, told ET. A new app, YouTube Create, and some AI-led language tools are being currently tested in India before their global rollout, he added. Mohan, 51, who grew up in Lucknow, is on his first visit to the country after being appointed CEO of YouTube in February last year. Edited excerpts: What are YouTube’s priority areas and expectations from India? I've been on the ground here for a few days now. It's wonderful to see how dynamic the environment here is. The creator economy on YouTube has generated Rs 16,000 crore of economic activity along with 7,50,000 jobs. We're very proud of it and are investing heavily into it. And I think it's just a small example of where this can go.

LIC, RVNL, BSE, Hindalco, Tata Motors, Eicher Motors among others will be in focus due to various news developments and first quarter results. LIC, Eicher Motors, RVNL, SAIL, MRF and GRSE Shares of LIC, Eicher Motors, RVNL, SAIL, MRF and GRSE will be in focus today as the companies will announce their first quarter results.

₹5.9 trillion, a record high. The previous such record was ₹5.49 trillion on 4 June, when the Bharatiya Janata Party's failure to win a simple majority in the Lok Sabha elections spooked investors. Bond yields plunged and stocks rose across markets after Wednesday's soothing words from the Bank of Japan, with the Nifty gaining 1.27% to close above the 24,000 mark at 24297.5, while the Sensex rallied 1.11% to 79,468.01.

global equity markets saw a relief rally following the Bank of Japan's assurance that it will not increase interest rates when the markets are unstable. NSE's Nifty rose 304.95 points, or 1.27%, to close at 24,297, whereas BSE's Sensex rose 874.94 points, or 1.11%, to end at 79,468.

India’s growing influence in the Olympics during a bid to host the 2036 Summer Games should soon see a first sponsor deal from the country for the IOC