India Financial News

World Bank Friday approved a $1.5 billion loan to help India accelerate low-carbon energy development by promoting a market for green hydrogen as well as electrolysers and renewable energy penetration. The green financing will allow the country to scale up renewable energy and encourage finance for low-carbon energy investments, said World Bank India country director Auguste Tano Kouame. The bank's board of executive directors approved the second tranche of financing to support the country's low-carbon transition on Friday.

Bharti Airtel and Vodafone Idea (Vi) increased mobile tariffs by 11-20% and 10-23%, respectively, to boost average revenue per user (ARPU), a day after Reliance Jio announced higher rates, making this the first wide-ranging headline price increase since November 2021. While Airtel and Jio — which dominate the market — say they need to improve returns after paying high prices for 5G airwaves in 2022, Vi is looking to back up its recent ₹23,000 crore equity fundraising efforts as it strives to become more competitive, stem user losses and repair a stressed balance sheet to pay vendors and statutory dues. Analysts said the three telcos will see a 13-17% rise in ARPU with the main effect being felt in second and third quarters of this fiscal year. Airtel and Vi have been vocal about increasing ARPU at an industry level for a sustainable telecom sector.

Banks across the country have been put on alert amid tip-offs received by the regulator on possible cyberattacks. They have been told to proactively monitor their systems for threat detection on a 24/7 basis. «In the light of credible threat intelligence received regarding potential cyberattacks, regulated entities are advised to put in place enhanced state of surveillance and resilience capabilities to guard against these threats,» said an advisory issued by the Reserve Bank of India to financial institutions on June 24.

protein supplements, powders and shakes without authorised medical certifications or with misleading labelling claims, said people with knowledge of the matter. The Food Safety and Standards Authority of India (FSSAI) is set to release tighter regulations on protein supplements, after it conducted a study which revealed that dozens of protein powders and supplements were being sold at store shelves, gymnasiums and e-commerce platforms with false and misleading claims, said one of the persons. «There are a lot of protein products in the market which are more harmful than beneficial,» said an FSSAI official, who did not wish to be identified. «The idea is to have stringent norms so that there is no damage to public health.» The crackdown could lead to a ban on sale of scores of such products which do not meet the new norms, according to people in the know.

NSA) Vikram Misri was on Friday named as the next foreign secretary, according to an official order. From the highest decision-making office in the country -PMO to External Affairs Minister's office and ambassadorial posting in Beijing, Misri has handled India's most challenging foreign relations in the past. A 1989-batch Indian Foreign Service officer, Misri, who has served in Washington DC in the past, is often known as someone who takes a «360-degree view of things». Being in Beijing during the Galwan crisis and thereafter, he has handled the toughest period in the Sino-Indian ties in recent times. Later as the Deputy NSA, he worked closely with the NSA on various issues, including India's strategic ties with Eurasia and the Gulf, besides groundbreaking iCET with the USA.

full scholarship to a US university, is now facing deportation. The youth faked his father’s death to get admission and a full scholarship to Lehigh University in Pennsylvania, according to Lehigh Valley News. This carefully orchestrated plan also included fabricating financial records and transcripts, as well as creating a fake email address resembling his headmaster's to generate false letters of recommendation. Anand admitted his tactics in a Reddit post titled «I have built my life and career on lies.» Although he did not divulge his identity, another astute Reddit user conducted a background check and identified him.

National Testing Agency today announced new dates for UGC NET June session. In a notification, it said, «This is to inform all concerned candidates that due to certain unavoidable circumstances, some of the National Testing Agency (NTA) examinations were postponed/cancelled. Now, the fresh dates for these examinations have been finalized.»

@Krutrim AI Cloud GPUs on demand, priced not in $ but in ₹for all devs in India! Share in comments what you would build using AI for India! Top 10 innovative ideas will get their AI cloud needs sponsored completely by us! Contest ends Sunday midnight."This initiative is designed to foster innovation and support the local developer community by removing the barrier of foreign currency pricing, which often deters smaller startups and individual developers from utilizing advanced AI resources. By pricing the service in rupees, Ola Electric aims to democratize access to high-performance computing capabilities, enabling more developers to leverage AI in their projects.The announcement has already generated significant buzz, with developers and tech enthusiasts flocking to the comments section to share their ideas.

Rohit Sharma.Former Indian skipper Sourav Ganguly, who captained India in the ICC tournaments in 2000, 2002, and 2003, said he doesn't want to advise Rohit.Speaking at an event in Kolkata on 28 June, Sourav said, as quoted by ANI, "I don't want to advise him. I captained India in three tournaments, and I lost two. In one, I was the joint winner so I don't want to advise him anything and just wish him the best of luck."Apart from this, Ganguly lauded Rohit and Co.

Canada’s newest oil pipeline has turbo-charged exports of the country’s heavy crude to Asia and a diversion through California is making for a longer but potentially cheaper journey.

coal import from 2014-15 to 2023-24 stood at 2.49 per cent only, the coal ministry said in a statement. «Moreover, CAGR of imported coal share stood at 13.94 per cent during the period from fiscal year 2004-05 to 2013-14 while the same figure plummeted to around -2.29 per cent» during the last decade, it said. With strategic focus on optimising indigenous coal resources and leveraging innovative technological solutions, India continues its journey towards self-reliance in energy security of the nation, the statement said.

India on Friday said it opposes unilateral actions seeking to change the status quo by force in South China Sea amid concerns over China's escalatory moves against the Philippines' maritime operations in the region. Tensions between China and the Philippines escalated following an incident of violent clash between their maritime security personnel few days back in the South China Sea. «We have always emphasised on adherence to international law, respect for the rules-based order, and resolution of disputes in a peaceful manner,» external affairs ministry spokesperson Randhir Jaiswal said. «Other than that, we also believe that there should not be any incident or approach that destabilises the region,» he said.

Companies like Barclays, TransUnion, and OakNorth among others are hiring leaders in technology, particularly for roles in cloud, artificial intelligence and machine learning, but also cybersecurity, risk management, and compliance. BFSI GCCs employ between 3,20,000-3,60,000 professionals, accounting for 20-25% of the total GCC workforce, and 30% of digital banking products produced globally are developed in India, according to ANSR, which specialises in setting up and managing GCCs. Those in the BFSI space are not hiring as strongly as some other sectors, but there is a steady rise in demand for leadership roles in banking and markets operations, and in asset and wealth management, it said.

civil aviation ministry on Friday ordered a thorough inspection of the structural strength of all airports in the country, following the roof collapse incident at the Delhi airport that left one dead and at least six persons injured. Following the incident that happened at around 5 am on Friday at Terminal 1, the operations at the terminal have been suspended and the flights that are to operate from there have been shifted to T2 and T3. Sources in the know said that more than 100 flights that were to be operated from T1 have been cancelled by IndiGo and SpiceJet. At a review meeting convened by Civil Aviation Minister K Rammohan Naidu, it was also decided that a 24x7 war room will be set up for efficient management of passengers at T2 and T3.

Risk-adjusted return (RAR) of a scheme portfolio represents a more holistic measure of the scheme's performance because it quantifies the amount of return generated by a mutual fund scheme for each unit of risk taken to achieve that return. The current regulatory framework does not mandate the disclosure of RAR along with the returns of an MF scheme.

Bharat Electronics Limited (BEL) has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) on Friday at AVNL Headquarters in Chennai. According to an official statement, BEL, which is headquartered in Bengaluru, stated the project entails the supply and installation of an advanced, indigenously designed and developed Sighting and Fire Control System (FCS) for the upgrade of BMP 2/2K tanks of the Indian Army, along with a comprehensive engineering support package.

Indian Navy on Friday bid adieu to UH-3H helicopter — a versatile platform that has played a crucial role in humanitarian assistance and disaster relief operations — after 17 years of glorious service, officials said. The de-induction ceremony was held at INS Dega, Visakhapatnam. The event was presided by Vice Admiral Sameer Saxena, Chief of Staff, Eastern Naval Command. Veteran officers and sailors of the UH3H squadron graced the event with families reminiscing the yeoman service of the helicopter. The UH-3H helicopter will be replaced by Sea King 42C helicopter at INAS 350 to continue and deliver operational power and capability, a spokesperson of the Navy said in a statement.

Pakistan's 24 News HD quoted Inzamam as saying. It was the same show where Inzaman had first made those claims."I had only given suggestions to the umpires, that keep your eyes open since the ball was moving around in the 15th over, and I still maintain my stance.

Dhankhar on Friday expressed anguish over Leader of the Opposition Mallikarjun Kharge trooping into the Well of the House during an opposition protest, saying it is for the first time that a person occupying the post has engaged in such conduct. On Friday, the House witnessed three adjournments due to protests and sloganeering by the opposition. Soon after laying of the listed papers on the table of the House during the morning session, Dhankhar informed that he has not accepted 22 notices by the opposition leaders to suspend the scheduled business of the day and take up discussion on the alleged irregularities in the NEET. This led to protest by the MPs of the opposition parties. They started raising slogans and several of them entered into the Well, leading to adjournment of the proceedings.

JP Morgan bond index got off to a muted start with a lower-than-expected quantum of foreign flows on Friday, belying expectations of an immediate deluge. Bankers, including a top executive at the US bank, said however that overseas investment worth billions will steadily be pumped into the debt market of the world’s fastest-growing major economy. Indian bonds debuted in JP Morgan’s GBI-EM global index suite on Friday, with the country expected to reach a maximum weight of 10% in the GBI-EM Global Diversified Index over a 10-month period. JP Morgan’s analysts expect foreign investment worth $20-25 billion to flow into the local bond market from the move.

Gujarat state’s GIFT City model in Karnataka. “I wish to put forward a request for your support and assistance in establishing a central business district hosting a global financial and IT hub, similar to the Gujarat International Finance Tec-City (GIFT City) project of Gujarat, in Karnataka,” Kharge said in a formal letter addressing the FM on Tuesday.