India Financial News

liquidation over a $19 million payment default to the Board of Control for Cricket in India (BCCI). The company, once valued at $22 billion, is undergoing insolvency proceedings — a development that raises questions on what could happen to its 5,000 employees, including teachers, in addition to thousands of vendors and customers.

Securities and Exchange Board of India (Sebi) has intensified surveillance of initial public offerings (IPOs), slowing approvals, as it looks to safeguard investors. The average approval time for IPOs in calendar year 2024 has lengthened to 125 days, the most in 11 years, according to primedatabase.com data. Out of the 44 IPOs approved by Sebi this year, 18 have taken more than 125 days, data showed.

Mumbai continues to experience heavy rainfall, resulting in significant waterlogging and traffic snarls across the city. The India Meteorological Department (IMD) has issued a red alert for parts of central Maharashtra, predicting heavy rain until July 24.

Union Budget, volatility is expected to remain high on Tuesday. «We thus maintain a cautious stance and recommend a hedged approach. Traders should seek buying opportunities in low-beta counters, especially in the defensive sectors, and remain selective in other areas,» said Ajit Mishra – SVP, Research, Religare Broking.

Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman is all set to present her seventh consecutive Union Budget on July 23. This will be the first full financial budget of the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government in its third consecutive term. The Union Budget 2024-25 is expected to focus on revising the income tax structure to benefit taxpayers in all segments and enhancing the ease of doing business in India.

Nepal’s newly appointed prime minister has secured overwhelming support in parliament with more than two-thirds of members voting in his favor

mental health issues among Indians and suggested a bottom-up, whole-of-community approach for addressing the issue.

banks and other regulated entities can create situations of dependence on single vendors for critical services, thus increasing risks, said Reserve Bank of India deputy governor M Rajeshwar Rao, making the observation days after a global outage of Microsoft systems.

Sangh is seen as an attempt by the BJP-led Union government to improve the equations between the two.

growth imperatives. Geopolitical conflict has frequently disrupted trade, and geo-economic fragmentation has added to the uncertainty. The April 2024 edition of the IMF Fiscal Monitor noted that governments worldwide were grappling with high debt and deficits. In this context, the Indian economy's average growth rate of around 8% in the last three fiscal years is a creditable achievement. The economy has firmly put behind the scars of the pandemic. India is one of the only two major economies whose GDP at constant (2011-12) prices is 20% above the pre-pandemic level. While this is truly creditworthy, now is the time to consolidate and further build on the gains achieved while implementing policies safeguarding the growth process. This is the overarching message of Chapter 1 of the Economic Survey 2023-24.

policy framework, the Economic Survey 2023-2024 on Monday said the government should consider export bans on agricultural products only in specific situations and avoid banning futures or options markets at the first sign of any price surge to let markets function in the interest of farmers. India either banned or imposed curbs on exports of major agricultural items such as wheat, rice, sugar and onions as erratic weather hurt output, inflating prices in the domestic market. The Centre also banned trading in wheat, paddy (non-basmati), chana, mustard seeds, soya bean and moong to prevent any price surge.

Tata AIG General Insurance, have received 'circumstances notifications' from major airlines including Air India following the global Microsoft outage on June 19, two sources said. The outage, which affected numerous institutions worldwide, may influence insurance pricing and coverage for the coming year.

IT sector to find the right balance between deployment of technology and deployment of labour because without labour income and without labor employment, that is no demand growth, which means it comes back to hurt the country's top line and bottom line as well," he said. Pointing to findings from the Staff Discussion Note of the International Monetary Fund published in June 2024 that talk of profound concerns stemming from Generative Artificial Intelligence, or GenAI’s, impact on massive labour disruptions and inequality, the survey said that it would be in the ‘self interest’ of corporate India to seriously create jobs even as they invest in AI across sectors.

Mumbai: The sale of carbon credits to overseas entities in voluntary carbon markets (VCM) could make India’s emissions reduction more expensive and difficult, the Economic Survey 2023-24 said, adding that India “may not subsidize the transition of other countries". VCMs comprise trading in carbon credits by entities of their own volition to meet their internal emissions reduction targets. The survey noted that there is uncertainty regarding accounting standards when credits are sold internationally and then redeemed by a foreign entity.

Economic Survey 2023-24 said there is a need for nearer-term goals for human welfare, rather than just one larger, longer-term target for global climate management. It has also suggested a diversified approach for energy transition with the integration of renewables, alongside exploring nuclear energy and biofuels, wherein thermal power would provide the base-load to support largescale deployment of renewables.

The Economic Survey for 2023-24 placed before Parliament on Monday is forthright on some aspects. Its straight talk on the need for private companies to use the profits they’ve piled up, thanks partly to a tax cut, to invest in India is an example. The hypocrisy of the rich world in expecting us to start phasing out fossil fuels at this juncture of the economy’s emergence is also squarely dealt with, especially the “Alice in Wonderland" air around some global plans.

Vivo V40 series is anticipated to come with a 5,500mAh battery and is likely to be launched in India in August. This series is claimed to be the "slimmest phone" in its category. Both models are expected to have an IP68 rating, offering protection against dust and water.

Earlier this year in January, the Reserve Bank of India’s flexible inflation targeting framework completed a decade as the primary determinant of Indian monetary policy. Informally adopted in January 2014 and officially in 2016, the framework has been the subject of considerable debate over the last few years. There really are two branches to India’s inflation targeting debate: the numerical target—4% in a band of 2-6%, and the measure of inflation itself, which is headline inflation as measured by the consumer price index (CPI).

trailer for the penultimate episode of House of the Dragon Season 2 has been released, offering a glimpse into the intense events awaiting viewers. Following the tragic death of Rhaenys and her dragon Meleys at the Battle of Rook’s Rest, Queen Rhaenyra faces significant challenges.

Karnataka Government to amend a labour law to extend the working hours in the tech services companies by up to 14 hours, during exigencies, has come under resistance, putting the government on the backfoot.

crypto asset industry in recent years has been a dynamic and unpredictable journey. While cryptoassets do not yet form a major part of the global financial system, that too is beginning to change and their presence is now indisputable. However, the borderless nature of crypto assets poses various risks to the global economy due to their unique technological and economic characteristics. Effective regulation in the area of investor protection is crucial for building trust in markets like India, which is at the forefront of global cryptoasset adoption. Similar to other G20 nations, India must balance the need to protect investors with the desire to foster innovation in this rapidly evolving sector.