India Financial News

Donald Trump at an election rally on Saturday in which the former U.S. president was wounded in the ear: INDIAN PRIME MINISTER NARENDRA MODI ON X «Deeply concerned by the attack on my friend, former President Donald Trump. Strongly condemn the incident. Violence has no place in politics and democracies. Wish him speedy recovery. Our thoughts and prayers are with the family of the deceased, those injured and the American people.»

shooting with multiple victims at a Birmingham nightclub late Saturday, while an earlier shooting outside a home in the city killed three people including a young child, police in Alabama said. Officers responded shortly after 11 p.m. to a report of multiple people shot outside a nightclub on the 3400 Block of 27th Street North, Birmingham Police Department Officer Truman Fitzgerald said in a video posted on social media. Birmingham Fire and Rescue personnel pronounced one man dead on a sidewalk near the nightclub. Two women were pronounced dead inside the club, Fitzgerald said. A second man was pronounced dead at University of Alabama at Birmingham Hospital, where at least nine additional victims were being treated for gunshot wounds, he said.

Anant Ambani, the younger scion of Reliance Industries exchanged vows with his fiancee Radhika Merchant on Friday. Like most big, fat, Indian weddings, the nuptials of Anant & Radhika were star-studded and were attended by bigshots from showbiz and business all across the world. American reality TV star Kim Kardashian was one of the guests at the bash. She was part of the wedding ceremony, as well as the Shubh Aashirwad ceremony on July 13.

old Goa cafes, like Aram in Panjim, you will find a dish of onions, tomatoes and a few spices, cooked into the gravy that serves as a base for many Indian dishes. Here it’s served by itself, with pao or puri, under the odd name of ‘salad bhaji’. There is an echo here of Colonel Kenney-Herbert in his magisterial Culinary Jottings for Madras (1878) when he declares: “An excellent salad is that made by slicing raw ripe tomatoes with a Bombay onion.” He admits that “no man would partake of [it] just before a ball, or on his wedding day” for fear of the smell of raw onions on h is breath. But combining savoury-sweet tomatoes and pungent onions clearly has real culinary value, whether sliced as he suggests, diced like a kachumber, pulverised salsastyle or even cooked in salad bhaji. Defining salad is surprisingly hard. In Judith Weinraub’s Salad: A Global History (2016), she struggles to connect salads, which are usually served cold, but can also be warm; which are served alongside main dishes or as a separate course or even a meal in itself; that are mostly made of leafy greens or other vegetables, but also eggs and meat; that usually have a liquid dressing, but can also just be plain cut vegetables — and let’s not forget fruit salad!

India is likely to see retail digital payments double to USD 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in online purchases has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. «Millennials and Gen X are leading in the adoption of all types of digital payment instruments,» it said. «Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity.»

Oravel Stays Ltd is set to appoint Sumer Juneja, Managing Partner and Head of EMEA & India Investing at SoftBank Vision Fund, as a non-executive director on its board, sources said. The appointment is subject to shareholders' approval to be sought at an Extraordinary General Meeting (EGM), according to information accessed by PTI. Sumer will join Oravel Stays' Board as a nominee director of Softbank.

Congress leader and Rajya Sabha MP P Chidambaram stressed on Sunday that the central government needs to give up all-India examinations, adding that the right to conduct examinations for medical college admissions must be reverted back to states. The NEET-UG exam, held on May 5, 2024, has been mired in controversy, with allegations of cheating and impersonation. In an exclusive interview with ANI, P Chidambaram said, «NEET is a scandal and we have been saying this for the last 3-4 years. Tamil Nadu has passed a resolution in the assembly demanding the exemption of the state from NEET. Each state must have the right to conduct its own entrance examination to select students for the colleges run by the state government. When you have an all-India-level examination, these scandals are bound to happen.»

One of the major steps taken by many tech companies is building diversity initiatives to have an inclusive workforce. In fact, a recent Foundit report said the tech sector was among the top industries that showed the maximum spike in diversity job postings. However, the 2024 Compensation and Benefits Survey by ANSR and Talent500 reveals that 65% of respondents think there is a significant gender-based pay gap, with 56% noting disparities of at least 25% in compensation levels across different roles.

The Ambani women made a striking impact with their meticulously designed outfits by the classic duo, Abu Jani and Sandeep Khosla. Their designs celebrated Indian artistry, modern fashion and the union of two illustrious families. Nita Ambani was a vision of grace in a tissue gold Ghagra with a real gold tissue blouse hand-embroidered in Zardozi.

IAF on Sunday recalled the force's contribution in the Kargil war 25 years ago during which it flew thousands of strike missions and helicopters sorties to bolster the Army's efforts in fighting against the adversary. To commemorate the silver jubilee of the victory in the 1999 Kargil war, the Indian Air Force is celebrating 'Kargil Vijay Diwas Rajat Jayanti' at Air Force Station Sarsawa from July 12-26, honouring the bravehearts who made the supreme sacrifice for the nation, the ministry of defence said in a statement. On Saturday, IAF Chief Air Chief Marshal V R Chaudhari laid a wreath at the Station War Memorial as a tribute to all air warriors who laid down their lives in service of the nation. He felicitated and interacted with many next of kin during the event. A spectacular air show was organised that included display by the Akash Ganga Team and aerial displays by Jaguar, Su-30 MKI and Rafale fighter aircraft.

Also read | Household savings plummet to 5-year low in FY23: Where did young India’s savings go? Savings, debt, and consumption are key considerations for households. Given that households are the biggest savers in India—who help fund the government’s fiscal deficit, along with helping private firms to invest—and private consumption is the largest component of the GDP, the three variables mentioned above have much to reveal about the state of the economy.

Budget 2024, to be presented by Finance Minister Nirmala Sitharaman. Industry players are hopeful for tax reductions on exports to bolster demand for Indian-made gold and diamond jewellery.

Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said. The move will enable the entry of differentiated insurance companies like in the banking sector. The banking sector is currently categorised as universal bank, small finance bank, and payments bank. The provision of composite licenses would allow life insurers to underwrite health insurance or general insurance policies.

BCCI on Sunday decided to release funds of Rs 1 crore for the treatment of former India player and coach Anshuman Gaekwad. The 1983 World Cup winning player is suffering from blood cancer and is currently undergoing treatment at King’s Hospital London. «Mr. Jay Shah has instructed the Board of Control for Cricket in India (BCCI) to release Rs 1 crore with immediate effect to provide financial assistance to India's veteran cricketer Mr Anshuman Gaekwad, who is battling cancer,» BCCI apex council said in a statement. The move comes after former captain Kapil Dev appealed for help from the BCCI after the board announced Rs 125 crore in prize money for the T20 World Cup winning team.

Retail inflation, or the Consumer Price Index (CPI) in India, is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research. India's retail inflation rate increased in June, deviating from the moderation seen in previous months, driven by rising food prices. The year-on-year inflation rate based on the all-India Consumer Price Index (CPI) was 5.08 percent (provisional) for June 2024. The corresponding inflation rates for rural and urban areas were 5.66 percent and 4.39 percent, respectively.

Kapil Dev has also expressed deep concern for former cricketer and coach Anshuman Gaekwad, who is battling blood cancer and facing financial strain. Alongside fellow players like Mohinder Amarnath and Sunil Gavaskar, Kapil Dev is actively seeking support from friends and corporates to assist Gaekwad during this challenging time. “We are ready to contribute by donating our pension amount if the family allows us to,” Kapil said. Reflecting on the issue, Kapil in an interview with SportsStar emphasized the need for a structured approach to handle such medical emergencies for former players. He acknowledges the financial stability enjoyed by current players and support staff, contrasting it with the scarcity during his era when the Board lacked adequate funds. Kapil underscores the responsibility of the Board of Control for Cricket in India (BCCI) to support past players financially, advocating for the establishment of a Trust to streamline contributions and aid for veterans like Gaekwad. In a significant move, the BCCI has responded to emotional appeals from Kapil Dev and Sandip Patil by approving a donation of Rs one crore for Gaekwad's treatment at a London hospital. BCCI Secretary Jay Shah has personally ensured immediate financial assistance and ongoing support for Gaekwad's recovery.

India has already secured the series win, but Zimbabwe will be looking to salvage some pride in the final match. With favorable weather conditions and a determined Zimbabwean side, the match promises to be an exciting conclusion to the series. Fans can catch the live broadcast on Sony Sports Network or stream it on SonyLIV.

I have a B.Tech. from IIT, Bombay, an MBA from IIM, Lucknow, and a CFA charter from the CFA Institute. My wife, a PhD from IIT, Bombay, is an educational consultant, and my daughter, who graduated from NLS, Bangalore, is an advocate. I was born and raised in Mumbai. How did you land up in this job?

Naveen KR, smallcase Manager, Senior Director, Windmill Capital. He also warns that over indexing in one section of the market might lead to erosion of capital. Edited excerpts:

Aatmanirbhar Bharat initiative, aimed at boosting domestic manufacturing and reducing dependence on imports. Launched in 2020, the PLI scheme seeks to incentivize companies to set up and expand their manufacturing capabilities within India, thereby fostering self-reliance and bolstering the country’s economic resilience. At its core, the PLI scheme provides financial incentives to manufacturers based on their incremental sales from products manufactured in domestic units. These incentives are designed to make Indian products more competitive on a global scale, encourage large-scale manufacturing, and attract investments in critical sectors. The scheme is targeted at sectors where India has the potential to emerge as a global leader, thereby creating significant employment opportunities and boosting exports. To date, the government has rolled out PLI schemes across 14 key sectors, including electronics, pharmaceuticals, textiles, and white goods. The success of these initial schemes has prompted the government to consider expanding the program to other strategic sectors.

Hardik Pandya was recently seen enjoying himself at the wedding of Anant Ambani and Radhika Merchant, held at the Jio World Convention Centre in Mumbai. The T20 World Cup champion's presence without his wife, Natasa Stankovic, reignited separation rumors. However, it was Pandya's lively participation in the festivities that captured the internet's attention.