India Financial News

The State of Fashion 2024, 75% of Gen Z aged 11-26 consumers consider sustainability when making purchases. In India, thrifting began humbly in friends' homes, where clothes were piled on to beds and sifted through together. Garage sales and informal swaps were also known, but weren't a popular concept.

On 8 July, a Supreme Court bench will hear around 24 petitions challenging alleged irregularities in the National Eligibility-cum-Entrance Test (NEET-UG), an exam crucial for admission into undergraduate medical programmes. The verdict could affect approximately 2.4 million students. Mint takes detailed look at the situation: The NEET-UG, assessing students on physics, biology, and chemistry, was held on 5 May across 4,750 centres in 571 Indian cities and 14 international locations.

Coal India unit Northeastern Coalfields (NECIL) which is operating one coal mine in Margherita sub-division in Tinsukia district, is making efforts to increase production from two lakh metric tonnes to 15 lakhs tonnes per annum. The Chairman & Managing Director of Coal India Limited (CIL), PM Prasad, and his team of senior officials called on the Chief Secretary, Ravi Kota at his Office chamber in Lok Sewa Bhawan, Guwahati. The Chief Secretary during interaction, reviewed the progress of the ongoing projects of NECIL in Assam. Kota highlighted that the Assam Government under the leadership of the Chief Minister, Himanta Biswa Sarma is keen on developing Assam as a sustainable and environmentally clean source of coal for relevant industries to reduce import of coal and to help in employment generation. The government is also exploring ways to maximize exploration and utilisation of the coal resources to accelerate economic growth, he said. At present, one coal mine in Margherita sub-division in Tinsukia district, under NECIL is actively extracting coal with an annual production of two lakh metric tonnes of coal. The production is likely to increase to three lakh tonnes per annum very soon and efforts are being undertaken to expand the same to 15 lakhs tonnes (1.5 Mn tonnes) per annum.

pre-Budget rally that has seen Sensex and Nifty touch unclaimed peaks this week may not sustain in the run-up to the D-Day, according to historical market trends ahead of the Budget. “If history were to repeat, we should see a dip prior to the Budget announcement. So history advises traders not to chase prices higher this week,” says Anand James, Chief Market Strategist, Geojit Financial Services.

RBI. To achieve India’s ambitious growth objectives and fulfil India’s Nationally Determined Contributions, green finance is imperative. Climate risk disclosure frameworks work in complement with policymaking to support India’s net-zero target and are also pivotal in guiding companies and investors to navigate the opportunities and risks posed by climate change. The introduction of the disclosure framework is a laudable first step, signalling a concerted effort towards addressing climate risks and fostering climate action within the financial sector. These disclosures are poised to accelerate the evolution of Environmental, Social, and Governance (ESG) considerations in financial markets. Modelled on global standards like the Task Force on Climate-related Financial Disclosures (TCFD), they promise interoperability of data (especially relevant for companies operating globally) and reduce operational burdens for banks. Moreover, they foster a level playing field not only for comparison within the domestic financial system but also internationally.

Small businesses will launch over 3200 new products on Amazon across categories like home and kitchen, fashion and grooming, jewelry and handmade products on Prime Day on July 20 and 21 this year. A host of small businesses will be participating in the shopping event on Amazon. “During the two days of the event, sellers will not only get a massive boost in the visibility of their products and brands but also directly access Amazon’s vast customer base across India, spanning 100% of serviceable pin codes. Through such shopping events, our aim is to enable small and medium businesses to embrace the power of e-commerce and unlock new avenues for their success, fostering a vibrant online marketplace that contributes to the larger economic growth of India,” Amit Nanda, Director, Selling Partner Services, Amazon India said in a statement. Small and medium businesses can leverage a robust suite of tools and features available on Amazon to gear up for Prime Day 2024. A streamlined self-service registration process makes it easy for sellers to get started on the Amazon marketplace, with multi-language support, easy registration and invoicing. Sellers can use the Sale Event Planner to opt-in and offer great deals during Prime Day.

«There is enough competition in the telecom sector and the situation is not critical that requires intervention of the authorities. Consumers may feel some pinch of the price rise, but the hike has happened after three years,» one of the officials told ET, asking not to be named. India's three private telcoraised mobile tariffs by 11-25%, with the changes taking effect this week. As per analysts, this would increase the spending on telecom services in urban India to 2.8% of household expenditures in fiscal 2025 from 2.7% in FY24.

tomato price, which soared to Rs 75 per kg in the national capital, is expected to cool in the coming weeks as supply improves from southern states, a government official said on Saturday. The official, who spoke on condition of anonymity, said prices of potato and onion, which also spiked due to supply disruptions, are expected to stabilize soon. «Prices of tomato, potato and onion are ruling high in Delhi and some other cities. Extreme heat followed by spells of excess rainfall disrupted supplies, causing a spike in prices in consuming areas,» the consumer affairs ministry official told PTI. Tomato price in New Delhi has surged to Rs 75 per kg, but is likely to ease if heavy rainfall does not further disrupt supply chains, he said.

FI-Index, capturing the extent of financial inclusion across the country, rose to 64.2 in March 2024, showing growth across all parameters. The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion. «The value of the index for March 2024 stands at 64.2 vis-a-vis 60.1 in March 2023, with growth witnessed across all sub-indices,» the Reserve Bank of India (RBI) said in a statement on Tuesday. Improvement in FI-Index is mainly contributed by usage dimension, reflecting deepening of financial inclusion, it added.

7.7%to ₹1.74 trillion in June, which is the slowest pace growth since June 2021. The growth in May was 10%. The growth has been lucklustre in the past two months when compared to the average growth of 11.7% recorded in 2023-24.

Set in politically crucial badlands of Northern part of India, 'Mirzapur' delves into family feud, regional politics, mafia and control for the coveted throne to rule the area. Also Read:2024 US Presidential Election: Kamala Harris's team fears racial insensitivity if Joe Biden steps down. Will Black voters be angry?

new criminal laws, Chief Justice of India (CJI) D Y Chandrachud on Tuesday refused to comment on them, saying the issues arising from these statutes were pending before the Supreme Court. The new laws — Bharatiya Nyaya Sanhita (BNS), Bharatiya Nagarik Suraksha Sanhita (BNSS) and the Bharatiya Sakshya Adhiniyam (BSA) — came into effect across the country from July 1 and replaced the Indian Penal Code, the Code of Criminal Procedure and the Indian Evidence Act, respectively. Recently, a PIL was filed in the top court seeking a stay on the new criminal laws. It also challenged the constitutional validity of certain provisions in these laws.

Saurabh Mukherjea, Founder & CIO, Marcellus Investment, says a new India is being born – the challenger franchises, roughly 6,000 companies below the top 800. The top 800 companies are the rulers, they make profits of around $60 million. But the fastest profit growth in the country is in the 6,000 companies below the top 800. According to Mukherjea, their job, in the last year, increasingly has been to load up on these new businesses as India's profit landscape changes dramatically. What are the key highlights of your new report and research study and what triggered it? Saurabh Mukherjea: What triggered it is in the two years after COVID, we realised that while the investee companies were continuing to generate 20% profit growth, there was a whole ecosystem of smaller companies – around 6,000 smaller companies – which are growing profits at 30-35%. These are not PE or VC-funded companies but were perfectly ordinary smaller companies that are growing profits at a rapid rate.

Mid-Day quoted Gavaskar as saying.Earlier, legendary cricketer Sachin was awarded with Bharat Ratna, which he won at the age of 40 in 2014."Dravid’s achievements have given joy across all party lines and across caste, creed, communities and brought untold happiness to the whole country. Surely, that deserves the highest accolade the country can give.

Latin America to secure critical mineral blocks on a government-to-government basis, Veena Kumari Dermal, joint secretary in the mines ministry, said on Tuesday. Critical minerals like lithium are crucial in driving energy transition as they are essential for clean energy technologies, including wind and electric vehicles. Currently, New Delhi is heavily reliant on imports for its critical mineral supply. «We are having lots of discussions with many resource-rich countries in Africa as well as in Latin America for getting a block on a priority basis or government-to-government basis,» said Dermal.

The youngest son of Mukesh Ambani, Asia’s richest man, has married his longtime girlfriend in what many have dubbed the wedding of the year attended by global celebrities, business tycoons and politicians, highlighting the billionaire’s staggering weal...

About a quarter of senior executives in GCCs are from the IT services sector, according to a study conducted by staffing firm Xpheno. The report was shared exclusively with ET. According to the findings, there are about 120 top GCCs in India with some 21,000 senior executive roles, including those of vice-president, assistant vice-president, senior vice-president and director. These senior executives have a minimum experience of 15 years, and in the last one year, more than 100 have moved from an IT company to a GCC.

All India Loco Running Staff Association's South Zone president said Saturday loco drivers handed a memorandum to Leader of the Opposition in the Lok Sabha Rahul Gandhi, blaming poor working conditions for recent train accidents. R Kumaresan, who played a crucial role in organising the interaction between the former Congress president and the loco pilots at the New Delhi railway station on Friday, told PTI that they wanted to bring to Gandhi's attention «serious safety issues» faced by drivers and passengers in the Railways. «Recent accidents, including collisions in Indian Railways, apart from other issues, have brought forth the urgent necessity to resolve the working conditions of loco pilots since it is said that there is human failure,» the association said in the memorandum. Highlighting the plight of train drivers, the note said loco pilots, especially those who drive goods trains, work 14 to 16 hours a day and get to go home after three or four days.

Deepak Shenoy, Founder of Capital Mind, says that in the case of options trading, we need to increase regulatory oversight, create a mechanism so that the systemic risk is addressed, and allow for such highly leveraged traders to either bring in more capital to the table either by a margin increase or by an increase in lot size. The Indian options market is currently clocking volumes that on days are higher than India's GDP. The option market has seen activity like never before and we have seen historically when the options market is dominated by a lot of retail activity, it ends up very badly. What is the best way to protect the investor and also ensure that the market liquidity is not compromised? Deepak Shenoy: I would question the second part whether options market retail participation being very high has harmed the market because we have always had a retail run market for the longest time, both in cash and we know the biggest traders in the market on an intraday basis are retail traders, not institutions. And even in options, that has been the case. There is a large amount of them. So, I do not think there is necessarily a need to say that there are too many of them playing this market and therefore we should stop it.

Jaishankar on Wednesday met UN chief Antonio Guterres and discussed global hotspots and their larger implications apart from the reform of the UNSC. Jaishankar, who is here to represent India at the annual summit of the Shanghai Cooperation Organisation and carrying out various bilateral meetings on the sidelines, also met his Belarusian and Tajikistan counterparts Maksim Ryzhenkov and Sirojiddin Muhriddin respectively. «Always a pleasure to meet UNSG @antonioguterres. Appreciate his insights on the state of the world. Discussed global hotspots and their larger implications,» Jaishankar posted on the social media platform X. He further said that he spoke about the reform of the United Nations Security Council (UNSC), preparations for the upcoming 'Summit of the Future' in September, and future prospects for meaningful India-UN partnership.

Two years ago, tough economic conditions and geopolitics weakened financial markets, but 2023’s rebound has helped global net wealth rise, according to Boston Consulting Group.