India Financial News

RBI) has made certain adverse observations regarding the conduct of a senior executive chosen to head a state-owned bank. The banking regulator has made certain remarks in a letter on the conduct of Asheesh Pandey, currently an executive director (ED) at Bank of Maharashtra (BoM), and has asked the finance ministry to consider them while evaluating his candidature for the managing director position, said multiple people aware of the development. Pandey, age 54, is shortlisted for the role of MD & CEO at Indian Bank, but still requires final approval from the Appointments Committee of the Cabinet (ACC).

Crisil recently pegged investments at 33.7% of GDP in 2023-24, a 1.5 percentage point jump, that translates into a 33% savings rate for a 0.7% current account deficit. That’s also a significant rise. Here’s the clincher: a rising savings rate also allows for greater investments while keeping the current account deficit at the same level.

The NSE Nifty index ended the session 21.7 points up at 24323.85, while BSE Sensex fell 53.07 points to 79996.6.

NDTV quoted Latif as saying on GTV Sports.Apart from this, Latif asked Babar and Rizwan to leave the team for good or change their batting approach. He even cited examples of T20 World Cup champions from India – Virat Kohli and Rohit Sharma – who announced their retirement from the format after the final match on 20 June."I would give examples of Rohit Sharma and Virat Kohli to show how they changed themselves.

The regulation for AI will need global coordination between like-minded countries, Vaishnaw said.

Abhishek said, "My approach is always very much similar to this because if I feel it, even if it's the first ball, I'm going to go for it and I usually go for it… And when it's my day, it usually goes like this. And if it's not, I don't mind because I practice a lot on this, mindset and this game I'm having right now." Abhishek's 46-ball knock was the third fastest T20 hundred by an Indian, with skipper Rohit Sharma retaining his 2017 record.

strategic partnership, noting that the trade turnover between the two nations saw a remarkable increase in recent years, reaching USD 57 billion in 2023. In an exclusive interview with ANI, Manturov said that the momentum continued into 2024 with an additional 23 per cent growth, nearing USD 18 billion by April. This surge marks a 60 per cent growth from previous years, underscoring the robust nature of the bilateral relationship. Expressing optimism about the future of Russo-Indian relations, particularly in trade and economic cooperation, he highlighted India's pivotal role in Russia's foreign policy strategy, affirming a commitment to enhance bilateral ties across various sectors on mutually beneficial terms.

Union Budget 2024: In the 2024 interim Budget, Finance Minister Nirmala Sitharaman allocated ₹2,449.62 crore to the tourism sector, signaling a substantial 44.7% increase from the revised allocation in the current fiscal year. This marked a significant improvement over the 2023 Union Budget, initially set at ₹2,400 crore for the tourism ministry and later revised downward to ₹1,692.10 crore. With the industry experiencing a surge in travel, the upcoming Budget announcements later this month are eagerly awaited by stakeholders in the tourism sector. Hotel operators, who significantly downsised their workforce during the Covid-19 pandemic, are now actively hiring to support expansive growth plans and address high turnover rates in India. Over the next 12-18 months, an estimated 200,000 jobs are anticipated to be generated in the hotel, restaurant, and tourism sectors, as per TeamLease Services, a staffing services firm. This surge in employment comes as hotels expand their capacities, open new locations, and experience robust demand from both business and leisure travelers.

J B Chemicals & Pharmaceuticals Ltd.(up 1.62 per cent), Mankind Pharma Ltd.(up 1.2 per cent), Gland Pharma Ltd.(up 0.8 per cent), Zydus Lifesciences Ltd.(up 0.75 per cent) and Natco Pharma Ltd.(up 0.7 per cent) were among the top gainers.

Best gaming phones under ₹30,000 in July 2024: Poco F6, Realme GT 6T, Infinix GT 20 Pro and moreAs per tipster, Sudhanshu Ambhore on X (formerly Twitter), Poco M6 Plus 5G is likely to feature a 6.79 inch full HD+ LCD display with 120Hz refresh rate. The phone is likely to run on Snapdragon 4 Gen 2 AE chipset. For optics, it could get a 108MP primary sensor and a 2MP secondary shoooter.

CMF Phone 1's rear camera module. The phone will feature a dual rear camera system housed within a vertical, pill-shaped module located at the top left corner of the back panel. Each of the two sensors is set in separate circular units arranged vertically within this module.

Saurabh Mukherjea, the Founder & Chief Investment Officer of Marcellus Investment Managers, a renowned portfolio management service (PMS) player, stressed on three transformative themes driving new investment opportunities in India. These include the democratization of boardroom opportunities, the $300 billion China +1 opportunity, and the empowerment of Indian women.

Intro: Ratnaafin, in association with The Economic Times, presented MSME Growth Conclave to celebrate MSME Day, partnered by the Ahmedabad Chamber of Commerce Welfare Foundation and supported by India SME Forum and Kalyani Sahasik Mahila Vikas Sangh. Ratnaafin—a Non-Banking Financial Company in India—in collaboration with The Economic Times, proudly presented the MSME Growth Conclave to celebrate MSME Day, in partnership with Ahmedabad Chamber of Commerce Welfare Foundation and support of India SME Forum and Kalyani Sahasik Mahila Vikas Sangh. A celebration of the incredible contributions made by micro, small, and medium enterprises, the initiative had some of the most eminent speakers on the panel who discussed about the crucial roles that micro, small and medium enterprises play in driving the economic growth of Gujarat.

Sunteck Realty Ltd.(up 2.98 per cent), Prestige Estates Projects Ltd.(up 1.24 per cent), Brigade Enterprises Ltd.(up 0.34 per cent), Mahindra Lifespace Developers Ltd.(up 0.2 per cent) and Godrej Properties Ltd.(up 0.13 per cent) were among the top gainers.

government spending after the polls has injected fresh liquidity into the banking system, bringing down overnight borrowing rates, Treasury Bill yields and, in turn, short-term financing costs for Indian companies, even as the central bank seems to be in no great hurry to lower policy rates. After being at or above the Reserve Bank of India’s repo rate of 6.50% in May and June, the overnight weighted average call rate (WACR) has averaged 6.39% so far in July, more than 10 basis points lower than the benchmark policy rate, an analysis of daily central bank data showed. One basis point is a hundredth of a percentage point. The key driver of the evident shift in banking system liquidity to a surplus from a protracted deficit has been a flow of government expenditure — of about Rs 1 lakh crore — over the past few days. “Government cash surplus (Centre and states), which had peaked at Rs 5.1 lakh crore as of May 24 after the RBI dividend, has reduced to Rs 2.1 lakh crore as of July 11, with a pick-up in the pace of government expenditure,” said Gaura Sengupta, chief economist, IDFC First Bank.

CBI has registered a corruption case against former chairman and managing director of Heavy Engineering Corporation Ltd (HECL) Avijit Ghosh, officials said on Monday. Ghosh has been booked for alleged irregularities in setting up a centre of excellence for skill development in collaboration with CNIITMASH, a joint stock company of Russia, they said. The agency has alleged that Ghosh and others entered into a criminal conspiracy with CNIITMASH during 2015-19 with intention to cheat government exchequer by floating manipulated Expression of Interest. The CBI, which registered an FIR under IPC section of criminal conspiracy and provisions of Prevention of Corruption Act after a year-long preliminary enquiry, said that the Centre had launched a scheme in November 2014 with an objective to boost Indian economy by making the Indian Capital Goods Sector globally competitive.

IndusInd International Holdings (IIHL) plans to borrow ₹ 4,300 crore for the Reliance Capital acquisition through a non-convertible debenture (NCD) issue. Reliance Capital is currently undergoing the corporate insolvency resolution process, with Nageswara Rao Y appointed as administrator by the Reserve Bank of India under the provisions of the Insolvency and Bankruptcy Code, 2016, following an NCLT Mumbai bench order of December 2021.

anxiety could face double the risk of developing Parkinson's disease compared to their calmer counterparts. Parkinson's, as many know, is becoming increasingly common globally, with projections showing it could affect a staggering 14.2 million people by 2040, thanks to longer lifespans. So, maybe it's worth paying attention to those nerves and keeping tabs on your mental health as you age. The study confirmed that people with anxiety are at higher risk for developing Parkinson’s Disease (PD), with depression, sleep disturbance, fatigue, cognitive impairment, hypotension, tremor, rigidity, balance impairment, and constipation also identified as risk factors.

Bajaj Auto's CNG-run Freedom 125, Roads Minister Nitin Gadkari said that the variant would become the preferred 2-wheeler choice abroad given the cost-savings it offers. The CNG bike will start at Rs 95,000 and will go up to Rs 1.10 lakh. The CNG motorcycle will offer a range of 330 kilometre. It will have a 2 kilogram CNG tank along with a 2 litre petrol tank. The CNG tank is housed under the seat.

Strategists predict lackluster profit growth for companies in the NSE Nifty 50 Index in the three months ended June. Citigroup Inc. sees their aggregate net income rising just 2% from last year, while Motilal Oswal Securities Ltd. pegs the number at 4%. In the prior quarter, the expansion was more than 11%, outpacing forecasts.

China), said the company's current focus is solely on its Bengaluru facility. “While we acknowledge the complexities surrounding ownership, that is an issue for the future. We will address it when the time comes," he said, replying to a question from Mint on the need for an Indian partner on the sidelines of a media interaction on Wednesday.