India Financial News

Go First airline are set to move towards liquidation of the airline after finding no headway between banks and the two prospective bidders, five months after bids were formally received for the Wadia Group-owned carrier, said people familiar with the matter. Lenders are putting final touches to a voting proposal seeking liquidation of the airline after both the bids — from a consortium of EaseMyTrip CEO Nishant Pitti and SpiceJet chairman Ajay Singh, and from Sharjah-based Sky One Aviation — were below their expectations. The voting proposal may be put up before the committee of creditors this week, the people said. «Some processes like selection of proposed liquidator, calculating the cost of liquidation and funding of liquidation are being done, after which the proposal will be put to vote this week,» said one of the persons, who did not wish to be identified.

Duqm, the nation's Maritime Security Centre said on social media website X. The Comoros-flagged Prestige Falcon had a 16-member crew — 13 from India and three from Sri Lanka — and search and rescue operations to locate missing seafarers are underway. The incident happened Monday 25 nautical miles southeast of Ras Madrakah.

India's e-mobility R&D roadmap has suggested an Aadhaar number for batteries to keep a digital record of its material composition, usage history and end of life management as part of efforts to streamline the recycling process. The suggestion is part of the eMobility R&D Roadmap for India, released by Principal Scientific Adviser to the government Prof A K Sood, that lists out 34 research projects to become self-reliant and emerge as a global leader in providing innovative mobility solutions. «This roadmap aims to fill critical gaps in the current research and development framework. While many identified projects are yet to achieve global success, some areas already demonstrate significant international accomplishments where India is yet to commence preparations,» said Prof Karthick Athmanathan, a member of the Consultative Group of e-Mobility Advisory Committee. The roadmap has listed 34 projects for research and development across four broad areas — energy storage cells, EV aggregates, materials and recycling, charging and refueling.

EVM-VVPAT memory verification after the recent Lok Sabha and assembly polls will be able to check any machine from any polling station in an assembly segment and opt for a mix and match of EVM units, the Election Commission of India (ECI) announced on Tuesday. Releasing the technical protocol for the Checking & Verification (C&V) for EVM-VVPATs, as directed by the SC in its April 26 order, the ECI said that aggrieved candidates will be allowed to choose from a vast number of random tests/combination of machines and sequences for a thorough analysis to dispel all doubts about the machine and its software. «The 'randomness' and 'enormity' of test vectors and expanded choice-based approach instead of controlled environment C&V process of burnt memory eliminates possibility or apprehension of any bias or hidden functionality in the firmware, by showing intended outcome(s) under parameters selected by the candidate and at every stage of the C&V process,» EC has stated in its July 16 communication to all political parties and CEOs.

nutraceuticals to the drug regulatory authority from the oversight of the Food Safety and Standards Authority of India (FSSAI) has come under fire from pharma lobby groups and industry experts, who have raised apprehensions over the move and said the proposal should be kept in abeyance until it is discussed in detail. Nutraceuticals refers to food products with extra health benefits and includes supplements, functional foods and beverages. According to industry data, the segment is projected to grow to $18 billion in India by the end of 2025 from $4 billion in 2020. Experts said the regulations for nutraceuticals in the country are aligned with Codex Alimentarius, a global body functioning under the auspices of the World Health Organisation (WHO) to ensure safety of consumers.

commerce ministry is looking at setting up a centre for negotiations, as this is an important skill set required in areas like free trade agreements and other business deals, a top government official said on Tuesday. Addressing students and faculties of the Indian Institute of Foreign Trade (IIFT) here, Commerce Secretary Sunil Barthwal said the centre can also help in creating a skill set among students of the institute. «Negotiations are going to be a very very important skill these days. When we do FTAs, negotiation skills are a very important tool, so we have to create one centre for negotiations. But that centre is not just supposed to do FTA (free trade agreement) negotiations, we have to get into the broader framework of negotiations, which also involves mergers and acquisitions and other business deals,» Barthwal said. This centre will not be only for the government, but it will also be able to create skill sets among IIFT students.

Mutual funds may soon get to offer investment products that have been accessible mostly to rich investors with bigger amounts to invest. The Securities and Exchange Board of India (Sebi) has proposed to introduce a new asset class for investors, who want to put between Rs10 lakh and Rs50 lakh in differentiated investment strategies such as Long-short equity and Inverse Exchange Traded Funds, among others. Investors can invest a minimum of Rs 10 lakhs in such products, below the threshold of Rs 50 lakh for portfolio management service (PMS) and Rs 1 crore for alternative investment funds (AIFs). The minimum investment size of mutual funds is as low as Rs 500 and there is no cap. Several affluent investors put money in PMS and AIFs for more focused and unique investment strategies.

release date for the new 'Citadel' spin-off, 'Citadel: Diana.' This series, set in Italy, continues the Russo Brothers' expansive franchise.

National Company Law Tribunal (NCLT) admitted an insolvency petition filed by the Board of Control for Cricket in India (BCCI) against Think & Learn Pvt Ltd, the parent company of Byju’s, for allegedly defaulting on dues worth ₹158 crore. This is the latest in a series of setbacks for the online tutoring platform. While Byju’s has previously navigated similar challenges, such as the out-of-court settlement with Surfer Technologies, this latest development could have a more severe impact.

India’s economy is now forecast to expand 7%, up from the 6.8% the IMF had projected in April, in part because of stronger consumer spending in rural areas. Overall, the IMF said Tuesday that it still expects the world economy to grow a lackluster 3.2% this year, unchanged from its previous forecast in April and down a tick from 3.3% growth in 2023. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8% a year.

₹29,999 for the 8GB RAM/128GB storage variant, ₹32,999 for the 8GB RAM/256GB storage variant and ₹32,999 for the 12GB RAM/256GB storage option.OnePlus Nord 4 features a 6.74-inch AMOLED display with a resolution of 2772 × 1240 pixels, up to 120Hz refresh rate and a peak brightness of 2,150 nits. It features a USB 2.0 port, an alert slider, Bluetooth 5.4, Wi-Fi6, NFC and IP65 rating for splash and water resistance. The latest Nord device is powered by Qualcomm Snapdragon 7+ Gen 3 chipset and is paired with an Adreno 732 GPU for handling all the graphics intensive tasks.

₹39,999 for the 8GB RAM/128GB storage and ₹42,999 for the 12GB RAM and 256GB storage variant. Meanwhile, the OnePlus Stylo 2 is priced at ₹5,499 and OnePlus smart keyboard is priced at ₹8,499.The tablet will be available to buy on Amazon, OnePlus's own website and select retail outlets. The OnePlus Pad 2 features a 12.1-inch LCD 3K display with a resolution of 3,000 × 2,120 pixels and a peak brightness of 900 nits.

Assam Jatiya Parishad (AJP) criticized Assam government’s instruction to police regarding the implementation of the Citizenship (Amendment) Act, 2019 in the state where the police are advised not to forward cases of eligible individuals, who entered India before 2014, the cut-off date under CAA, directly to the Foreigners Tribunals, All Assam Students Union (AASU) staged protest in different areas protesting the notification. AASU burnt the copies of the notification in different districts on Tuesday. On July 5, the Home and Political Department of the Assam government wrote to the Special Director General of Police (Border) of the Assam police, stating that people eligible to apply for citizenship under the provisions of the CAA is not referred to Foreigners Tribunals and that a special registry of such people be maintained.

Bengaluru, India – (July 16, 2024) – RSM US LLP (“RSM") – the leading provider of assurance, tax and consulting services for the middle market – is pleased to announce the opening of its new Bengaluru, India office. The new office will be on the 3rd floor of Rosewood Block, Manyata Embassy Business Park.This strategic expansion represents RSM's continued commitment to long-term growth in India.

medical insurance for senior citizens in India and how a reliable medical insurance policy can empower them in their golden years.Medical insurance for senior citizens is not just a financial product; it is a necessity. Here are some key reasons why:When choosing a health insurance policy for senior citizens, it is important to consider the features and benefits it offers.

As India’s new government gets into its groove, it will inevitably be the recipient of a lot of advice on the economic agenda for a third term. Given the unfinished work on many fronts, it’s reasonable to expect policymakers to receive a laundry list of needed reforms across a multitude of sectors. But, in contrast to expansive lists, state capacity and political capital are typically much more limited.

Countries that adopted such a trajectory have manufacturing’s share at 20%+ of their gross domestic product. Despite the reforms and initiatives, India’s manufacturing ecosystem continues to face challenges on key investment criteria on account of low labour productivity, high logistics and power costs, and limited innovation.

import of precious metals from the UAE under a free trade agreement with India. GTRI demanded an investigation, citing the negative impact on the domestic jewellery industry and potential annual revenue loss for India, PTI reported. The key issue centers around the India-UAE Comprehensive Economic Partnership Agreement (CEPA) that permits unlimited imports of gold, silver, platinum, and diamonds from the UAE into India with zero tariffs in the coming years. GTRI's report highlighted that addressing these issues is crucial to ensure the integrity of import practices, safeguard domestic industries, and prevent significant revenue losses. The report noted that the zero-tariff policy under CEPA could cause an annual revenue loss of Rs 63,375 crore due to duty-free imports of gold and silver, based on FY2024 import levels. This policy is also likely to shift import business from banks to a few private traders and replace top suppliers with Dubai-based firms.

Buckingham Palace to Antilia check the full list of the most expensive houses in the world. 1. Buckingham Palace Buckingham Palace located in London, United Kingdom is almost worth 4,900 million dollars. It has wide planted gardens and a distinctive balcony where the royal family appears during major ceremonies. Buckingham Palace contains state chambers, a vast art collection, and elaborate ceremonial areas.

Patna High Court L Narasimha Reddy on Tuesday withdrew from the one-man Commission of Inquiry set up by the Telangana government to look into the role of ex-chief minister K Chandrasekhar Rao in alleged irregularities in the power sector during his tenure. The top court, which was hearing the plea of the former Telangana chief minister alleging bias against the head of the inquiry panel, was informed by the counsel of Justice (retd) Reddy that he does not want to be part of the commission. A Supreme Court bench comprising Chief Justice of India D Y Chandrachud, Justice J B Pardiwala and Justice Manoj Misra took note of the submission and permitted the Congress-led state government to substitute Justice (retd) Reddy in the Commission of Inquiry.