India Financial News

As the age of AI dawns upon us, it has brought excitement and trepidation in equal measure. The trepidation was mostly around AI-generated deepfakes and how they could change voter minds, influence elections and thus subvert democracy. This was especially true in India, as almost a billion voters were electing a new government.

Tata Digital as CEO, the resignation of Paytm Payments Bank MD and CEO Surinder Chawla, and the appointment of Rakesh Singh as CEO of Paytm Money, among others. ET analysed the top-level movements with data from executive search firm Longhouse Consulting.

tax policy by imposing a 1% Tax Deducted at Source (TDS) on the transfer of Virtual Digital Assets (VDAs), alongside a flat 30% tax on income from these transactions. The Budget also did not allow for set off and carry forward of losses. The taxation framework aimed to monitor VDA transactions, discourage speculative trading, and ensure steady tax revenue. However, recent analyses indicate that these objectives have not been met, prompting calls for urgent reform. Unintended Consequences of the 1% TDS

Niva Bupa Health Insurance has filed the draft red herring prospectus (DRHP) to raise ₹3,000 crore through an initial public offering (IPO). The standalone health insurance firm will be the second health insurer listed on Indian stock exchanges, following Star Health and Allied Insurance. The IPO will include a fresh issue of shares to raise ₹800 crore for improving solvency ratio and operating expenses, and an offer for sale by existing shareholders, British United Provident Fund Bupa and Fettle Tone LLP, amounting to ₹2,200 crore. According to draft papers, the health insurance company is considering a pre-IPO placement of up to ₹160 crore, which would reduce the size of the fresh issue. The company plans to allocate 75% of the net offer to qualified institutional buyers, 15% to non-institutional bidders, and 10% to retail investors.

The federal government announced a $241.5 million settlement with Marathon Oil on Thursday for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota

Arbitration has been struggling to take off in India since the first Arbitration and Conciliation Act, 1996. This is worrisome. From PM to vice-president, many have argued for a sound institutional arbitration process. Law minister Arjun Ram Meghwal recently even wondered why India can't become the hub for arbitration in the Asia-Pacific region. As efforts are made to ensure its take- off, a recent finance ministry notification has the potential to nix the Act. It prohibits automatic arbitration clauses in any procurement and requires that even if one is incorporated, it be for less than ₹10 cr. The primary reason behind this is GoI's unsatisfactory experience in arbitration. The alternative prescribed is mediation or the courts, whose track record in timely disposal is poor. Most contracts come with an arbitration clause because it is quick, and the awards are final. It is the choice for businesses not only in India but all over the world.

Neil Armstrong and Buzz Aldrin walking on the moon and planting the American flag there. They say the photos and videos of moon landing were all staged like a film production. The conspiracy theory has thrived on the internet, refusing to die despite persistent debunking by scientists and media. Finally, a statement from a scientist from Russia, a rival space power and now an inimical force, can put this conspiracy theory to rest since the conspiracy theorists won't be able to find Russia's interest in confirming the truth of the moon landing. The US is the only country so far to land humans on the moon. Luna 25, Russia's first lunar mission, failed in 2023 when it aimed a soft landing on the Moon's South Pole but crashed on the Moon and was lost. Both India and China have successfully landed craft on the moon.

₹238,168 with OAEs reporting only 127,073 per unit. That means 85% of unorganized-sector enterprises were generating around ₹10,000 per month. The situation for hired workers was no better.

India on Thursday made a big push to connect South Asia with SE Asia through The Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) with Foreign Minister S Jaishankar hosting his counterparts from the group's member states, including Myanmar, and exploring possibility of expanding the group to include three SE Asian states that have Bay of Bengal linkages. In his opening remarks at the BIMSTEC Foreign Ministers' Retreat Jaishankar called upon the BIMSTEC countries to come up with own solutions which becomes even more imperative given the current global and regional scenario. «The BIMSTEC Charter, for a start, has come into effect from May 20 this year. The global and regional developments also make it imperative that we find more solutions amongst ourselves.»

Domestic benchmark index NSE Nifty ended 112.66 points up at 24433.2, while the BSE Sensex closed 391.26 points up at 80351.64.

Eli Lilly has yet to get the nod from India's drug regulator for selling its blockbuster drug Tirzepatide in the country for weight loss, said the American pharmaceutical firm. «The apex drug regulator's subject expert committee (SEC) has so far given a go-ahead for its import and marketing for diabetes and not for weight loss,» Elli Lilly told ET, adding that the «obesity» indication is undergoing review by the Central Drugs Standard Control Organisation (CDSCO). The drug is marketed under the brand name Mounjaro for type 2 diabetes treatment and as Zepbound for weight loss, in the US. Mounjaro has been available in the US since 2022 while Zepbound was approved by the US FDA in November 2023. The company said it has yet to firm up the schedule for launching the drug in India.

Dravid also made a special mention of Rohit Sharma, thanking the Indian captain for calling him in November and asking him to continue as India's coach.He said, “Just like to say Ro (Rohit Sharma) thank you very much for making that call in November and asking me to continue. I think it's been such a privilege and a pleasure to work with each and every one of you but also to Ro (Rohit) thanks for the time.

GAIL (India) Ltd. traded 0.82 per cent down at Rs 227.05 on Wednesday at around 12:07PM (IST), while the benchmark BSE Sensex declined 563.46 points to 79788.18. As many as 398,977 shares changed hands on the counter with a total value of Rs 9.02 crore.

Zerodha chief executive officer Nithin Kamath has sought tax exemptions for startup investments, which he believes will eventually help address the unemployment issue plaguing the country. Taking to microblogging site 'X' (formerlyTwitter) days before the presentation of the Union Budget for FY25, he said that encouraging entrepreneurship is one of the ways to tackle unemployment.

Justin Bieber wowed guests at the pre-wedding celebrations of Anant Ambani and Radhika Merchant with one electrifying performance and the other. The ‘Never Say Never’ hitmaker took to Instagram and shared several images of himself posing with the bride and bride-groom at their Sangeet ceremony, and also gave a sneak peek to his live concert at the event. In one of the pictures, the ‘Baby’ singer is seen in a white vest and black baseball cap, posing with the lovebirds. Radhika Merchant looked ethereal in a metallic saree, while Anant appeared dapper in a red leather ensemble. In other pictures, he is shown to have a lighthearted moment with the groom-to-be. The pictures went viral, gaining more than three million likes on Instagram.

Indian lawyers and activists are urging Prime Minister Narendra Modi's government to put on hold three sets of new criminal laws, arguing they will increase litigation in an already overburdened justice system and give excessive powers to police. India this month replaced its criminal justice system — the Indian Penal Code of 1860, the 1973 Code of Criminal Procedure and the Indian Evidence Act of 1872 — with new laws. The new laws, in force since July 1, expand police powers on pre-trial detention of an accused and introduce the death penalty for gang-rape of women aged under 18, among other provisions. They also mandate judges to issue written rulings within 45 days after a trial ends and for charges to be framed within 60 days of the first court hearing in a case.

, the market's momentum largely hinges on the actions of domestic institutional investors (DIIs) and the proposals in the upcoming Budget. FIIs net sold ₹146.29 crore worth of equities between 1 January and 2 July, while DIIs were net buyers, pouring in a staggering ₹2,40,627.19 crore during this period.

Gresham Fernandes, chef-partner, Bandra Born, Mumbai T he 43-year-old Fernandes has always had avant-garde ideas—be it the Smoke House Room in Delhi, which was inspired by the organic, fluid network of fungal threads or mycelium, or the recently shuttered Salt Water Cafe, Mumbai, where European dishes met local produce. And now at Bandra Born, Fernandes celebrates the neighbourhood in which he spent his childhood, and where he learnt to celebrate fine music alongside great food. “My grandmother had five kids, and several of my uncles worked on ships as pursers.

Tata Realty & Infrastructure has secured a loan worth Rs 825 crore loan from the World Bank Group member International Finance Corporation (IFC) for the strategic refinancing of Ramanujan Intellion Park in Chennai. This financing is a part of Tata Realty's broader commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India. The funds will further integrate state-of-art sustainable technologies and practices at this flagship asset, which boasts a total leasable area of approximately around 4.67 million sq ft of IT/ITES commercial office spaces.

deepfakes of someone’s face becomes much easier, YouTube has introduced minor adjustments to simplify reporting videos that misuse your image without permission. One can now submit a request to YouTube to take down deepfakes through the privacy request process. However, the company will verify whether the content is a parody or satire. Not only that, the video uploading platform will check whether the person requesting to take down the content is a real human or a bot. In the past, one could only report these impersonations as being misleading.