India Financial News

payments platform, Unified Payments Interface (UPI), crossed the Rs 20 lakh crore for the third straight month in July. The platform clocked a transaction amount of Rs 20.64 lakh crore in the month of July growing by 35% on year. It also recorded a transaction volume of 14.44 billion a growth of 45%, as per data released by the National Payments Corporation of India (NPCI). It also had 466 million of average daily transaction count and Rs 66,950 crore worth of average daily transaction amount in July. For the month of June, UPI transaction value was at Rs 20.07 lakh crore in June and Rs 20.44 lakh crore in May.

Black journalists was prepared for a combative exchange well before Donald Trump took the stage Wednesday for an interview at their annual gathering in Chicago. Yet when Trump, just minutes in, began questioning Vice President Kamala Harris' racial identity, there was an instant ripple of reaction — a low rumble that grew into a roar of disapproval. «I didn't know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black. So I don't know, is she Indian or is she Black?» Trump said of Harris, whose mother was Indian American and whose father is Black.

Mint spoke with experts to address some key questions. The Nifty 50's journey from birth to a behemoth that represents the Indian economy is a story of acceleration. While it took 17 years to gain the first 5,000 points, the index has since transformed from a marathon runner into a sprinter.

Reserve Bank of India (RBI) on Thursday said 97.92 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,409 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation. The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal was announced, has declined to Rs 7,409 crore at the close of business on July 31, 2024. «Thus, 97.92 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned,» the central bank said in a statement.

Sunil Dahiya, a South Asia analyst at CREA, said, “This ongoing issue highlights the need for stronger regulations and a focus on reducing emissions. Using better technology and data can help control pollution.” He added, “India’s standards are more lenient than WHO’s, which can lead to long-term exposure to harmful particles. Research shows that even short-term exposure to PM2.5 in India poses significant health risks, suggesting that air quality standards need to be updated to better align with international guidelines to prevent diseases.”

domestic tourism and increasing propensity to travel overseas will expand the revenue of India's tour and travel operators by 15-17 per cent this fiscal, Crisil Ratings said on Thursday. Factors like improving infrastructure, rising disposable incomes, a behavioural shift in travel patterns, and the government's increasing focus on boosting domestic tourism will further support the sector's revenue growth. The assessment was based on an analysis of the country's four major travel operators, who account for about 60 per cent of the sector's revenue. «The credit profiles of travel operators, too, are expected to remain healthy, supported by strong balance sheets and steady operating margins of 6.5-7 per cent, in line with last fiscal, resulting in sizeable cash flows and continuing low reliance on debt,» Crisil Ratings stated.

Satwiksairaj Rankireddy and Chirag Shetty's dreams of securing a maiden Olympic medal came crashing down after a heartbreaking three-game loss to Aaron Chia and Soh Wooi Yik of Malaysia in the men's doubles quarterfinals at the Paris Games here on Thursday. One of the favourites for the gold medal, Satwik and Chirag, the reigning Asian Games champions and Commonwealth Games winners, squandered a first-game advantage to go down 21-13 14-21 16-21 in a hard-fought quarterfinal against the world number 3 Malaysians. Aaron and Chia, the 2022 world champions and Tokyo Games bronze winners, will face world number one and top seed Liang Wei Keng and Wang Chang in the semifinals. The Indians entered the contest after stitching three successive wins against the Malaysians in the last three meetings.

Swapnil Kusale doesn't quite know just why it has taken so long for him to be at the Olympics, where he landed a medal on debut on Thursday. A medal that is definitely life-changing for him personally but also historic in significance for Indian shooting given that it's the first time that a rifle shooter has managed to do it in the physically draining 50m 3 positions event. Ask him why it took him so long to arrive, he was as candid as one can be. «May be I was not as strong mentally,» says the 28-year-old son of a teacher father and sarpanch mother from Kambalwadi village near Maharashtra's Kolhapur.

opens on Fridayat a scaled-down valuation. The initial public offering (IPO) pricing values India’s largest electric scooter maker at $4 billion, about 25% discount to the valuation based on the last private funding round in September. In fact, the valuation is also sharply lower from as much as $7 billion that news reports had said the company’s founder was initially aiming at, but had received investor pushback.

Read this | Modi vibes well with Trump. But India may not be ready for a second Trump term With the death of Haniyeh, a crucial negotiator for a ceasefire, any de-escalation seems unlikely. Geopolitical analysts warn that the situation could escalate into a global conflict if allies on both sides become involved.

Indian banks, grappling with a deepening deposit crunch even after offering higher interest rates in some categories to lure the savings of customers, appear to be resigned to a new normal. With credit growth outpacing deposit growth despite higher interest rates, and a structural shift in the savings habits of customers - who now prefer higher-yielding investments - the proportion of current and savings account (CASA) deposits at banks has shrunk, a situation that may persist for some time.

Ceigall India opened on Thursday, the issue was booked 29% so far on the first day of the bidding process. The highest demand was driven by the employees, which was booked 1.35 times, followed by the retail investors, whose category was booked 43%. The non-institutional category was subscribed by 35%, while the part reserved for QIB investors was not booked so far.

Ola Electric, the biggest of this year, will open for subscription on Friday. Ahead of the listing, the company's shares are trading with a premium of Rs 15 in the unlisted market. Considering the upper price band, the stock is boasting a premium of 20% to the issue price. The IPO is priced in the range of Rs 72-76 per share.

Puravankara Limited recorded a net profit of Rs 15 crore for the first quarter of FY2025 as compared to a loss of Rs 17 crore during the same period last year. The revenue for the first quarter ending June 30, 2024 stood at Rs 676 crore a 101 percentage growth Y-o-Y with an EBITDA at Rs 148 crores, a 96% y-oy increase. The company achieved a quarterly sales value marginally increase of 0.17 percent to Rs 1,128 crore for Q1FY25 as the planned launches were deferred to Q2FY25.

tomatoes at Rs 50 per kg in Delhi-NCR and Mumbai retail markets. This move aims to relieve consumers, following an initial reduction to Rs 60 per kg on July 29, announced by Union Food and Consumer Affairs Minister Pralhad Joshi. «Prices of tomatoes have come down after our intervention,» Joshi stated. This initiative was launched to address the soaring tomato prices caused by supply disruptions due to heat waves and erratic rains in various states.

tax evasion related to work down by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand. In serving its highest-ever tax demand on Infosys, the government accused India's second-largest tech services company of evading taxes and sought Rs 32,000 crore ($3.8 billion), or almost all its revenue for the quarter ended June 30. Infosys said late on Wednesday it had received «pre-show cause» notices from the tax authorities but believed the relevant taxes had been paid. The company said in a statement it had paid its dues and is in compliance with central and state regulations.

Paras Healthcare, the Delhi NCR-based hospital chain has filed Draft Red Herring Prospectus (DRHP) with SEBI for ₹700 crore — ₹900 crore Initial Public Offering (IPO). The IPO comprises of a fresh issue of equity shares of up to ₹400 crores and an offer for sale (OFS) of up to 14,974,010 equity shares with face value of ₹1 each equity share.

India's Vikash Singh and Paramjeet Singh finished at lowly 30th and 37th positions respectively while national record-holder Akshdeep Singh pulled out after the 6km mark as Indian race walkers produced a disappointing performance in the 20km event of the Olympics here on Thursday. Vikash clocked 1 hour 22 minutes and 36 seconds while Paramjeet crossed the finish line in 1:23:48sec in the race won by Brian Daniel Pintado (1:18:55) of Ecuador.

Punjab National Bank on Thursday raised the marginal cost of funds-based lending rate (MCLR) by 0.05 per cent, or 5 basis points, across tenors, making most of the consumer loans costlier.

Swapnil Kusale won a bronze in the men's 50m rifle 3 position shooting event, becoming the first Indian to win in this discipline.