India Financial News

Sanjay Raut on Sunday said the «insult» of West Bengal Chief Minister Mamata Banerjee at the NITI Aayog meeting held in New Delhi a day earlier was not good for democracy. States have several issues which need to be addressed and muting the microphone of a chief minister doesn't suit democratic norms, Raut told reporters.

India vs Sri Lanka Live Score, 2nd T20I: Suryakumar Yadav's India take on Sri Lanka at the Pallekele International Cricket Stadium in Kandy today. After securing a win in the first T20I, Surya would be looking for his maiden T20 win as skipper of Team India. Sri Lanka, on the other hand, will be looking to keep the series alive with a strong performance in the second T20.There were many positives for India in the first T20I, including the form of skipper Surya, Rishabh Pant, Yashasvi Jaiswal and Shubman Gill.

foreign direct investments from China, and the government can consider FDI applications from Beijing in sectors involving high-end technologies like electric vehicles and batteries, which are not available in other nations, an official said. China has some modern capital equipment of different types, which can be important for India.

Mint. “They're also helping people upgrade from scotch and other blended whiskies to try something newer, more refined. We haven't seen any reduction in sales since the time these brands have become popular.

Jaishankar met the US Secretary of State Antony Blinken on Sunday in Tokyo ahead of the Quad Foreign Ministers' Meeting.

India House, a landmark initiative by the Reliance Foundation and the Indian Olympic Association (IOA), was inaugurated at the Paris Olympics on Saturday, marking a step in India's journey towards potentially hosting the Olympic Games in the future.

PV Sindhu began her quest in the Paris Olympics 2024 with a buoyant start as she defeated her Maldivian opponent Fathimath Nabaaha on Sunday in the first two rounds itself.

WTO's dispute settlement body has accepted a request from India and Chinese Taipei not to adopt the ruling against New Delhi's import duties on certain information and technology products till October-end, as both sides are engaged in resolving the matter mutually, an official said. The issue came up during a meeting of the dispute settlement body (DSB) in Geneva on July 26.

UltraTech Cement board on Sunday approved the purchase of 32.72 per cent equity stake of the promoters and their associates in India Cements.

foreign direct investment norms in the tobacco sector to check promotional activities and curb smuggling in the segment as firms are trying to circumvent norms, an official said. At present, foreign direct investment (FDI) is prohibited in the manufacturing of cigars, cheroots, cigarillos and cigarettes of tobacco or its substitutes.

Investment in equity mutual funds surged over five-fold to Rs 94,151 crore in the June 2024 quarter against Rs 18,358 crore a year ago, driven by a strong economic environment, supportive government fiscal policies, investors confidence and robust stock return. This has also pushed the industry's assets under management (AUM) by 59 per cent to Rs 27.68 lakh crore in June from Rs 17.43 lakh crore a year ago, data from the Association of Mutual Funds in India (AMFI) showed.

Khadi Gramodyog's business has crossed Rs 1.5 lakh crore for the first time and asserted that the rising sales of Khadi and handloom were creating new job opportunities in large numbers. In his Mann Ki Baat monthly radio broadcast, Modi said many people who would not be using Khadi products earlier now wear them with great pride.

Coal India Ltd is advancing 119 projects with a capacity of 896 million tonne per year and a sanctioned capital of Rs 1,33,576 crore, the world's largest miner said. These projects, which are at various stages of implementation, are part of CIL's «proactive strategy» to increase production capacity and meet future coal demands, the company said in its latest annual report.

Paris Olympics.

Cipla expects to commence supplies to the US market from its China facility in the second half of the current fiscal after getting approval from the American health regulator, according to its MD and global CEO Umag Vohra. Addressing shareholders in the company's Annual Report for 2023-24, he noted that the company is working with the USFDA to resolve issues with its various domestic plants.

Jaishankar on Sunday met US Secretary of State Antony Blinken and held a wide-ranging discussion on bilateral ties and regional and global issues. The two leaders met on the sidelines of the Quad Foreign Ministers' meeting in Tokyo.

Mint spoke to founders and investors to understand the evolution of the luggage industry, the attributes of the new entrants, barriers to entry and scaling, and the industry’s outlook. India’s organised luggage market is led by companies such as VIP Industries, Samsonite and Safari. The organised sector accounts for about 40% of India’s ₹15,000-crore luggage industry, according to a report by global analytics firm Crisil last year, and it is mainly this segment that has boomed in the wave of the pandemic.

Manoj Mittal takes charge as Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI), following his appointment by the Government of India. He has over 33 years of extensive experience in the Finance sector, including his previous tenures as Managing Director and CEO at Industrial Finance Corporation of India (IFCI) and Deputy Managing Director at SIDBI. SIDBI was established on April 2, 1990, under an act of the Indian Parliament. SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the MSME sector and coordination of the functions of the various Institutions engaged in similar activities.

ICICI Bank, India's second largest private sector lender, beat Street expectations with a 14.6% rise in first-quarter net profit at Rs 11,059 crore, buoyed by strong treasury income. Analysts polled by Bloomberg had forecast on average a net profit of Rs 10,517 crore. The lender recorded a net profit of Rs 9,648.20 crore a year ago.

Nirmala Sitharaman, through the Union Budget 2024, has introduced a significant amendment for those planning to move abroad from India. This new provision mandates that individuals domiciled in India must clear all tax dues and obtain 'clearance certificates' before leaving the country. However, the government has clarified that, the proposed amendment does not require every person to obtain a tax clearance certificate.