India Financial News

Cargo traffic across 12 major Indian ports rose 6.8 per cent to 69.08 million tonnes (MT) in June from 64.69 MT in the year-ago month, with ten ports showing positive growth while the remaining two witnessed a decline. Jawaharlal Nehru Port in Maharashtra recorded the highest growth in cargo handling at 15.12 per cent during the reporting month, followed by Cochin Port with 15.12 per cent, Kamarajar Port (10.70 per cent), Deendayal Port (8.57 per cent) and New Mangalore Port (8.53 per cent), according to the data released by the major ports' apex body Indian Ports Association (IPA). The 12 major ports are Deendayal (Kandla), Mumbai, Mormugao, New Mangalore, Cochin, Chennai, Ennore (Kamarajar), Tuticorin (V O Chidambaranar), Visakhapatnam, Paradip and Kolkata (including Haldia) and Jawaharlal Nehru Port. According to the IPA, VO Chidambaranar Port's cargo traffic grew 7.73 per cent and Paradip Port 7.41 per cent growth, respectively, during the previous month.

private investment plans reportedly slumping to a 20-year low in the first quarter of this fiscal, the Congress on Monday alleged India has suffered due to «random policy changes» and an atmosphere of «fear and intimidation». Congress general secretary, in-charge communications, Jairam Ramesh, in a statement alleged that everyday in the «Modi-Made Anyay Kaal» is a new record of economic failure. «We have already seen a 45-year high unemployment rate, a 50-year low household savings rate, and the first-ever decrease in real rural consumption. Now, we have another disturbing fact to reckon with. The Hindu reports that in the April-June quarter of this 2023/24 fiscal year, fresh investments announced by corporates is just Rs. 44,000 crore. This is a 20-year low,» Ramesh said in a post on X. «Compare the decade of Manmohan Singh as Prime Minister with that of the non-biological PM. Investment as percentage of GDP (average over time) was 33.4% during the UPA and 28.7% in the Anyay-kaal,» he said.

Rahul Gandhi visited Hathras to meet the grieving families who were affected in the stampede, the Bharatiya Janata Party (BJP) lambasted the Congress MP for being selective and not finding the «empathy» to visit the families of those who lost their lives in the Kallakurichi illicit liquor tragedy in Tamil Nadu. At least 121 devotees lost their lives owing to a stampede at a religious 'Satsang' event of self-styled godman Suraj Pal alias 'Bhole Baba' in Fulari village in Uttar Pradesh's Hathras on Tuesday. BJP leader CR Kesavan said that neither Rahul Gandhi nor Tamil Nadu Chief Minister MK Stalin have consoled the families of the victims of the Kallakurichi illicit liquor tragedy.

Hellboy: The Crooked Man has been released. Jack Kesy stars as Hellboy in this new adaptation. Fans eagerly await this movie. Trailer The trailer for Hellboy: The Crooked Man features Jack Kesy as Hellboy. It shows his intense journey, facing monsters and demons. Hellboy is the only one who can eliminate the evil haunting the hills. Since filming wrapped over a year ago, fans have been eagerly awaiting the trailer.

Bank credit rose 14% on-year as of June 28, outpacing deposit growth at 11%, putting the spotlight yet again on central bank's concerns over the gap that could lead to asset-liability mismatches. Latest Reserve Bank of India (RBI) data showed the growth in deposits and credit was lower than the year-ago period, reflecting a slowdown in economic activities due to the uncertainty on the economic outlook because of the Lok Sabha elections. Year-on-year credit and deposit growth rates in the same period of 2023-24 were higher — at 16.3% and 12.9%, respectively

The Russian Central Bank will finally expand its digital ruble pilot in September, widening its CBDC’s reach “by tens of times.”

Producer Price Index (PPI) to efficiently capture input prices in the economy and has shared it with the IMF, the Department of Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said on Thursday. He also said the government is working towards changing the base year of the wholesale price index (WPI) from 2011-12 at present. India is planning to move from the WPI to PPI going ahead in sync with most G20 economies. Consultations with the ministry of statistic and programme implementation (MoSPI) have been done. “It has to go through a process, including National Statistical Commission (NSC) but we are on the job…The model from our side is final and we have shown it to the IMF,” Singh said.

income tax refund after you file the income tax return (ITR) for that year. However, the income tax refund will only be issued after the tax department processes your ITR and sends you an intimation notice confirming it. This intimation notice is issued under section 143 (1) of the Income-tax Act, 1961. This year, the returns need to be filed for FY 2023-24 (AY 2024-25) with the current deadline being July 31, 2024. The refund for income tax is processed by the State Bank of India (SBI) and is directly deposited into the bank account that the taxpayer has designated in their ITR at the time of filing. Therefore, it is crucial to double-check that the correct bank account number and IFS code have been provided. Additionally, it is important to have the bank account pre-validated on the government's new income tax e-filing portal and to link the PAN with the bank account. Also Read: How to pre-validate bank account to receive income tax refund

Ramon Talwwar, Managing Director and CEO of ACME Group, expressed his heartfelt gratitude for the investor confidence. "We are immensely grateful for the support we have received.

India's Playing XI in the last matchYashasvi Jaiswal, Shubman Gill, Abhishek Sharma, Ruturaj Gaikwad, Sanju Samson, Rinku Singh, Shivam Dube, Washington Sundar, Ravi Bishnoi, Avesh Khan, Khaleel Ahmed.Zimbabwe's Playing XI in the last matchWesley Madhevere, Tadiwanashe Marumani, Brian Bennett, Dion Myers, Sikandar Raza, Johnathan Campbell, Clive Madande, Wellington Masakadza, Blessing Muzarabani, Richard Ngarava, Tendai Chatara. India vs Zimbabwe Live Score: Ravi Bishnoi, Washington Sundar and Avesh Khan have taken 6 wickets each. Skipper Sikandar Raza is the highest wicket-taker for Zimbabwe.India vs Zimbabwe Live Score: Ruturaj Gaikwad is the top run-scorer in the tournament so far.

Congress wins 2 seats in Himachal Pradesh, BJP bags 1The Congress won two seats in Himachal Pradesh. Kamlesh Thakur, wife of Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu, won the Dehri bypolls in Himachal Pradesh.

Gautam Gambhir has been appointed as the new Head Coach of the Indian Cricket Team, according to a statement by BCCI Secretary Jay Shah on social media platform X. Shah expressed confidence in Gambhir's ability to lead Team India forward, citing his deep understanding of modern cricket dynamics and his successful career across various roles. Following the announcement, Gautam Gambhir also posted on social media, «India is my identity and serving my country has been the greatest privilege of my life. I’m honoured to be back, albeit wearing a different hat. But my goal is the same as it has always been, to make every Indian proud. The men in blue shoulder the dreams of 1.4 billion Indians and I will do everything in my power to make these dreams come true!»

NDA Vs INDIAThe bypolls are seen as significant test for the opposition INDIA bloc as it faced off against the Bhartiya Janata Party (BJP)-led National Democratic Alliance (NDA) in first electoral battle after Lok Sabha Elections 2024.The elections, the results of which was announced on June 4, saw the BJP falling short of majority and opposition INDIA bloc gaining strength. The BJP finally bagged 240 Lok Sabha seats - 32 short of the majority.TMC wins 3 of 4 seats in West BengalIn West Bengal's Raiganj seat, TMC leader Krishna Kalyani defeated BJP leader Manas Kumar Ghosh by over 50,000 votes.

Rail Vikas Nigam (RVNL) and Indian Railway Finance Corporation (IRFC) rallied 15.5% and 9% to their new all-time highs of Rs 567 and Rs 206 respectively on BSE in Monday's trade ahead of the Union Budget, where the focus is likely to be on infrastructure investment. The sentiment around RVNL also remains positive as in the last week, the company signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation (DMRC) for participation in upcoming projects in India and abroad.

12 problem statements on Geo-Spatial Applications from centres NRSC, PRL, NESAC, SPL, and SAC.As per ISRO, Teams of 3-4 Indian students from undergraduate, postgraduate, and PhD programs are invited to participate for the Hackathon which involves a rigorous two- level screening process.The Indian space agency said in a statement said, “Initially, 100 teams will be shortlisted based on their ideation and relevance to the problem statements. From these, an expert committee will select 30 teams for the grand finale."The grand finale, a 30- hour marathon event, will be held at the NRSC Outreach Facility in Jeedimetla, Hyderabad, starting at 10:00 hrs IST on August 13, 2024.The hackathon event is managed through a dedicated web portal.

economic policy towards 2047 with an emphasis on job creation through labour-intensive manufacturing, credit for MSMEs and continued focus on services exports by expanding GCCs, according to Goldman Sachs. “We expect the general government to stick to the announced fiscal deficit target of 5.1% of GDP for FY25 (or even slightly lower) and announce further consolidation to a deficit of below 4.5% of GDP by FY26”, Goldman Sachs said in a note Monday. Union finance minister Nirmala Sitharaman will present the full budget for FY25 on July 23. In her interim budget, presented in February, she had pegged fiscal deficit at 5.1% of GDP

Fleabag breaks out and conquers the world, there’s an embarrassment of riches to be unearthed on BBC’s iPlayer, a streaming service to love. However, for international viewers, the iPlayer has long been viewable only by using a VPN and pretending you’re in England — until now. Amazon Prime Video in India now offers a specific “BBC Player" bundle which is a ₹599 add-on service that adds a bunch of BBC shows to your existing Prime Video subscription.

Indian cricket team members received a grand felicitation on their return from Barbados as they first met Prime Minister Narendra Modi on Thursday in New Delhi and then joined a victory parade in Mumbai where large street-side crowds cheered for the T20 World Cup winners as they passed atop an open bus in a procession. The welcome was fitting, given that this title win is only the second for India and ended a 17-year drought in this format of the game, one that has lasted since India’s win in the inaugural edition of the championship in 2007.

Ministry of Home Affairs (MHA) has amended the Jammu and Kashmir Reorganization Act, 2019 enhancing some powers of the Lieutenant Governor of the erstwhile state. President Droupadi Murmu has given her approval to the amendments in the rule exercising the powers conferred by section 55 of the Jammu and Kashmir Reorganisation Act, 2019, (34 of 2019) read with the Proclamation dated 31st October 2019 issued under section 73 of the Act, a notification issued by the MHA mentions. The President made the rules further to amend the Transaction of Business of the Government of Union Territory of Jammu and Kashmir Rules, 2019.

Amazon warehouse and delivery workers in India are enduring intense pressure and unsafe conditions while struggling to support themselves with insufficient pay, the UNI Global Union said on Wednesday. “Four out of five warehouse workers reported that the targets set by Amazon are difficult or very difficult to achieve and only 21.3% of warehouse workers and drivers believe the work environment at Amazon is safe,” it said in its report published in partnership with the Amazon India Workers Association (AIWA) and based on the survey responses of 1,838 participants or Amazon employees in India. Commissioned by UNI Global Union and conducted by Jarrow Insights over 50 days from February 2 to March 22, 2024, the survey used both on-site and digital methods to ensure a representative sample of Amazon’s workforce in India.

Kotak MF first to lift curbs on investing in small-cap fund following elections, earnings growth Jain was chief investment officer at HDFC AMC from 2004 to 2022. He managed the HDFC Balanced Advantage Fund (earlier known as HDFC Prudence Fund), a hybrid equity fund, for 28 years (1994 to 2022).