India Financial News

Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions. PNB became the fifth bank to be penalized, with a penalty of Rs 1.31 crore. This penalty was imposed for non-compliance with RBI directions regarding 'Loans and Advances: Statutory and Other Restrictions' and the 'Reserve Bank of India (Know Your Customer (KYC) Direction, 2016'. Before PNB, the RBI penalized four cooperative banks with various penalty amounts. These banks include The Gujarat Rajya Karmachari Co-operative Bank, Gujarat; The Rohika Central Co-operative Bank, Madhubani, Bihar; The National Co-operative Bank, Mumbai, Maharashtra; and The Bank Employees' Co-operative Bank, West Bengal.

Pathan brothers, Yusuf and Irfan, that has caught the attention of fans online is where the ace bowler Irfan was seen getting angry at brother for being responsible for his run out. Similar case was seen in an IPL match where Irfan took a skier of a catch to dismiss Yusuf, playing for the opposite team. The catch completed, Irfan did not even celebrate. Watch video here:

₹5,338 crore. But what did Forbes know? That same year, his group companies Malvika Steels and Usha Ispat defaulted on loans worth close to ₹2,400 crore! Beneath the glittering facade of a sprawling conglomerate, a black fungus of financial manipulation had started to take root that would soon bring the entire edifice crashing. At the heart of the Ispat frauds was a complex system of inflated valuations for public issues, round-tripping of funds and misuse of bank loans.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators for discrepancies. “On a review, banks are hereby permitted to use the ratings of the CRA (Brickwork Ratings) for risk weighting their claims for capital adequacy purposes...,” the RBI said in a statement on Wednesday. Listing out certain conditions, the RBI said that in respect of fresh rating mandates, rating may be obtained from Brickwork Ratings for bank loans not exceeding Rs 250 crore. In respect of existing ratings, Brickwork may undertake rating surveillance irrespective of the rated amount for the residual tenure of such loans, the RBI said.

Indic languages, Indian Institute of Science’s AI and Robotics Technology Park (IISc-ARTPARK) plans to open-source 16,000 hours of spontaneous speech from 80 districts as part of Project Vaani in collaboration with American technology company Google. IISc-ARTPARK is curating datasets of 150,000 hours of natural speech and text from around one million people across 773 districts of India, and the first phase of the project, launched at the end of 2022, is nearing completion.

Women's Asia Cup T20, which is set to take place in Dambulla, Sri Lanka from July 19. Harmanpreet Kaur will once again lead Team India in the tournament, with star opener Smriti Mandhana playing the role of her deputy. The ninth edition of the Women's Asia Cup will be played from 19 to 28 July in Sri Lanka in the T20 format.

Tube Investments of India Ltd. gained 0.12 per cent to Rs 4175.95 in Thursday's trade as of 12:13PM (IST). It hit a high of Rs 4204.25 and low of Rs 4165.0 during the session. The stock quoted a 52-week high price of Rs 4397.1 and a low of Rs 2729.1. The return on equity for the stock stood at 23.54 per cent. About 890 shares have changed hands on the counter so far.

compensation cess levied on imported goods under Goods and Services Tax (GST) to businesses operating in special economic zones and their developers effective 2017. The Central Board of Indirect Tax and Customs also directed issuance of refunds of 5% GST collected on food packages intended for the public distribution system (PDS). These refunds could total about ₹6,500 crore, people familiar with the matter said. The move follows a recent GST Council decision exempting imports by SEZ units and developers retrospectively from July 1, 2017 — the date of introduction of GST.

HCLTech chairperson Roshni Nadar Malhotra was conferred France's highest civilian honor, the Chevalier de la Légion d'Honneur (Knight of the Legion of Honour), the company said on Monday. The award, which is conferred for outstanding service to France, recognised Nadar Malhotra’s business and sustainability contributions and efforts to promote economic ties between France and India, HCLTech said.

Air India flight, the pilot made special announcements to thank the Indian cricket team for ending the long wait for a World Cup victory. Acknowledgment was also given to head coach Rahul Dravid, who will no longer be part of the Indian dressing room.India Today reported that Indian players, their families, and support staff were accommodated in business class.

Vodafone Idea (Vi) out of the proceeds of a likely sale of its balance 3.1% holding in Indus Towers, said analysts who added that this may be used to clear a portion of the Indian telco's dues to the tower company. Vi may also make more substantial payments to Indus towards cutting its dues after the telco raises debt of ₹23,000-25,000 crore through term loans as planned, they added. After the recent sale of its 18% stake in Indus, UK's Vodafone holds 3.1% of the tower company and is said to be in talks with Bharti Airtel to sell these shares, people familiar said. Earlier talks between the two parties got stuck over valuation differences but the latest discussions may yield results, said the people cited above.

MS Dhoni, who led Team India to three major ICC trophies, turned 43 on Sunday. Dhoni needs no introduction in the world of cricket and is famous for his calm and stunning captaincy skills on the field in his international and IPL days. On August 15, 2020, Dhoni announced his retirement from all forms of cricket, bringing down the curtains on an illustrious career. Under Dhoni's leadership, India bagged the top prize in all formats. Under his captaincy, India lead in the Test ranking for 18 months starting December 2009. The side went on to win the 50-over World Cup in 2011, and the T20 world title on his captaincy debut in 2007.

India vs Zimbabwe Live Score Updates: A young side, India, will take on Zimbabwe in the first match of the Sports 5 T20I series at the Harare Sports Club on Saturday. Notably, this will be the first time the Men in Blue have played in Zimbabwe since 2016.The Zimbabwe series has taken on new significance following the T20 World Cup victory and the subsequent retirements of Virat Kohli, Rohit Sharma and Ravindra Jadeja from T20 cricket. With fresh blood in the side, the Men in Blue will be looking to continue their winning ways.Zimbabwe, on the other hand, come into this series having lost their last series against Bangladesh 4-1 in May.

Sunil Gavaskar has offered his advice to Rohit Sharma and co. Gavaskar suggested that Team India should focus on convincing Hardik Pandya to make a Test comeback in order to become "invincible" in red ball cricket.Also Read | Rohit Sharma's retirement: Hardik Pandya to lead India in T20Is vs Sri Lanka; KL Rahul to lead in…In an interaction with RevSportz, Gavaskar said, "I'm hoping that, in these next two months, there will be some effort made to try and convince Hardik Pandya to come back to Test cricket," "If he starts batting at no.

Prime Minister Narendra Modi's upcoming visit to Austria will be the first prime ministerial visit from India to that country in 41 years, the last being of Indira Gandhi in 1983. Modi's official visit on July 9-10 comes when India and Austria mark 75 years of their diplomatic relations. Jawaharlal Nehru travelled to Austria in 1955 in the first prime ministerial visit since diplomatic ties were established in 1949. «India and Austria have had a regular exchange of visits including at the level of leaders, ministers and parliamentarians highlighting the importance that both countries accord to further strengthening their relations,» according to a profile of India-Austria bilateral relations put up on the website of the Ministry of External Affairs.

Infrastructure, Atmnanirbhar Bharat and digitisation which will continue to see higher focus in Budget 2024,” says Sandeep Raina, Executive Vice President- Research, Nuvama Professional Clients Group. In an interview with ETMarkets, Raina said: “We expect some minor volatility in 2H2024; however, it will likely be a stock picker's market rather than a broad-based rally, which we have seen over the last 15 months,” Edited excerpts:

The list of dramatis personae in the drama that unfolded after Hindenburg’s report of 24 January 2023 on the Adani Group has grown. Online searches for ‘Kingdon Capital Management’ and ‘Kotak India Opportunities Fund Class F’ surged this week on news of the American short-seller’s reaction to a show-cause notice sent by the Securities and Exchange Board of India (Sebi).

Vinay Kwatra on Friday announced that Prime Minister Modi will arrive in Moscow on Monday (July 8) afternoon, he said, adding that the PM will then join a private dinner hosted by Russian President Vladimir Putin. Adressing a special briefing on PM Modi's visit to Russia and Austria, Kwatra said, PM Modi will pay an official visit to Moscow on July 8-9, at the invitation of the President of the Russian Federation for the 22nd India-Russia Annual Summit." Further, he also said that after PM Modi and Putin's informal meeting in Uzbekistan's Samarkand in 2022, both leaders have stayed in touch on the phone multiple times.

A post shared by ICC (@icc)Some even said that the boundary cushion was pushed outside deliberately during the second innings, so that an an unfair advantage can be given to India.Putting an end to the controversy, SKY said to the media, as NDTV noted, “I didn't touch the line when I caught the ball in the final match against South Africa. We can't keep everyone happy.

independent system operator to ensure fair access to full capacity of natural gas pipelines for all market players, says Indian Gas Exchange (IGX) CEO Rajesh Kumar Mediratta. In an interview with Sanjeev Choudhary, Mediratta called for splitting of gas companies engaged in both marketing and transportation to end the advantage bundled entities enjoy over standalone marketers. Edited excerpts: What are some of the measures the government can take to develop domestic natgas market? If we want to develop our natural gas market, we need to bring best practices with a level playing. Bundled and unbundled marketers should have equal access to information and the same imbalance or ship-or-pay charge mechanism.