India Financial News

Indian banks have suggested to the US Treasury that its advisories to them should be routed via the finance ministry to ensure speedy implementation, people privy to the development said. Executives from some of the top lenders, including State Bank of India, Punjab National Bank and Canara Bank, met with a six-member US Treasury delegation last month. The discussions focused on Russian payments and a possible breach of the internationally imposed $60 a barrel purchase price on Russian crude.

Power Grid Corporation of India Ltd (PGCIL)'s consolidated net profit for the quarter ended March dropped 3.6% on-year to ₹₹4,166 crore. Revenue from operations fell to ₹11,978 crore, down 2.5% from the corresponding period a year ago.

Dell Technologies is working with governments worldwide to address ethical concerns about the use of artificial intelligence (AI), helping them tackle deepfakes, frauds and bias, a top executive of the company said. «With vast amounts of data, the attack surfaces increase dramatically. There are good actors in the world, and there are bad actors in the world. Our role in collaboration with governments, different governments, is to balance innovation and technology, and doing the right things using the technology,» said Jeff Boudreau, chief AI officer at Dell Technologies. He was responding to a question on the impact of rogue AI and deepfakes, which could influence the ongoing general elections in India, and what is a company like Dell doing to check this.

New Delhi: India is in talks with Sri Lanka to acquire a graphite mine block in the island nation, pushing ahead with its plan to forge global alliances to secure critical mineral supplies, said people familiar with the development. Separately, the country has received an offer from the United Arab Emirates to partner for critical minerals, they said. «Graphite is crucial for India since it is used for making batteries.

India is the only country, among the top five steel producing nations, to have seen a growth in production in April, with the others seeing production drop by as much as 7% during the month. China, which is the world's largest producer of steel, has seen its production in April fall more than 7% on year to 85.9 million tonne. Its production from January-April this year, at 343.7 million tonne, is 3% lower as compared to 2023, data from the World Steel Association showed. India, which is the world's second-largest producer of steel, saw production rise by 3.6% to 12.1 million tonne. The country has seen an 8.5% growth in production between Jan-Apr this year, having produced 49.5 million tonne of steel.

Reserve Bank of India (RBI) had private shareholders, as it had before 1949, they would have been a happy lot on Wednesday evening. The old lady of Mint Street will deliver its bounty from the financial markets — by far the most generous payout it has ever made — to New Delhi. At a time when some of the central banks in the advanced world have reported losses and negative equity, RBI will hand over a dividend cheque of more than ₹2.1 lakh crore to its sole owner, the government. However, the optics of the event — a monetary authority headed by a former bureaucrat making a huge transfer to a macho government towards the end of a long, noisy general election — masks a more prosaic truth. The payout number is a function of local and offshore currency and money markets, coupled with RBI's active intervention in the foreign exchange market. FY24 WAS DIFFERENT

Delhi riots. He vividly remembers how his shop in the main market was burnt and his family of 10 lived in a camp for over four months before they could gather the courage to return. «The shop took longer to rebuild but the business has not been the same,» he says. North East Delhi constituency, which has the maximum concentration of Muslim voters in Delhi at 20.7%, is divided along communal lines. The epicentre of the Delhi riots of 2020 which claimed 53 lives and left 583 injured, North East Delhi is witnessing a tight contest between two-term BJP MP Manoj Tiwari and Congress' Kanhaiya Kumar, a former CPI leader involved in students politics. Tiwari is the only BJP MP who has not been dropped by the party in Delhi. But anti-incumbency is visible on the ground.

Virat Kohli's IPL 2024 journey concluded with a bittersweet ending, marked by outstanding individual performances yet an ultimate heartbreak. Orange Cap holder Kohli, the charismatic leader and prolific batsman, amassed an impressive 741 runs throughout the season. His remarkable consistency was reflected in an average of 61.75, showcasing his reliability and hunger for runs. Rajasthan Royals ended Royal Challengers Bengaluru's eventful campaign in the Indian Premier League with a four-wicket win in the Eliminator in Ahmedabad on Wednesday. Kohli's strike rate of 154.69 underscored his aggressive intent and ability to accelerate the scoring, keeping bowlers on their toes. His stellar season included five half-centuries and one magnificent century, proving his dominance at the crease. He lit up the tournament with 62 boundaries and 38 towering sixes, enthralling fans and driving his team forward. Throughout the season, Kohli, who became the first player to score 8000 runs in IPL, demonstrated his class and commitment, often being the backbone of his team's batting lineup. His century was a masterclass in pacing an innings, combining textbook shots with innovative stroke play. The half-centuries were crucial in building or consolidating the innings, often coming under pressure situations.

Reserve Bank of India (RBI) on Wednesday said it would pay a record dividend of `2.1 lakh crore for FY24 — more than double the amount the Centre had budgeted for — as Mint Road made windfall interest gains from its overseas investments. The benchmark bond yield retreated below 7% on expectations that New Delhi would now need to borrow less this fiscal year. “The higher dividend is welcome, of course,” finance secretary TV Somanathan told ET. “It exceeds our estimate by 0.2-0.3% of GDP.”

Financial Times (FT) investigative report that found the ports-to-power conglomerate's involvement in an alleged coal scam.Also Read: ‘Will investigate…’, Rahul Gandhi on report on Adani's suspected fraud in alleged coal scamTaking to microblogging platform ‘X’, Singh said, "A major investigative report, on why #GreatBritain had to colonize India in 1757 AD, by FT, BBC et al. Finding of Investigative Report: To stop formation of Adani Group.

PTI on whether he considered himself a PM face of the opposition INDIA bloc."I have no such intention. We (AAP) are a very small party… contesting only 22 seats," Kejriwal said in response.Also Read: Arvind Kejriwal breaks silence on Swati Maliwal assault case: 'Two versions of event'When asked who will become PM if INDIA bloc wins the election, Kejriwal said, “This is an election to save the democracy. We have to save the country from 'taanashai' (dictatorship).

India has achieved a significant milestone, with its market capitalisation crossing the $5 tn mark on Tuesday, tripling in a decade of robust reforms and economic progress. The most heartening features of this growth in wealth have been: Fall in the share of foreign institutional ownership from 19.13% to 16.51%, accompanied by a corresponding rise in domestic ownership. Small investors, typically participating through mutual funds, have seen their ownership rise from 3.33% to 8.87%.

Virat Kohli gained significant runs with his slog sweep during the IPL 2024, but the renowned RCB batsman fell victim to the same shot due to a lack of execution against the Rajasthan Royals in the Eliminator on Wednesday. Kohli, scoring 33 runs off 24 balls, seemed set for a significant innings, but his time at the crease was ended by Yuzvendra Chahal in the eighth over. Chahal outfoxed the key RCB batsman, resulting in Kohli being caught at deep midwicket by substitute fielder Donovan Ferreira, who took a remarkable catch above his head.

Prime minister, the 2014 Lok Sabha campaign was strongly anchored in the fight against corruption. In 2019, it was the 'labharthi' model reaching every segment of society, besides the national security imperative that took centre stage. The 2024 Lok Sabha election campaign was expected to be pitched on 'vikas' and 'Viksit Bharat'. But it seems to have turned communal and polarising, your thoughts? Perhaps, you find it polarising because you have not examined the crux of the matter. What is truly communal and polarising is Congress party's manifesto, their issues and their intent. It is my duty to expose them. Just because I am exposing them, you think it is polarising. You noted it correctly that in 2014, corruption was the main issue. In 2019, it was labarthis. In 2024, the main issue is Viksit Bharat. People across the country know that this is an important election which will ensure that we reach Viksit Bharat at the speed of the country's aspirations.

Tech companies are wading into copyright issues not only over the content they use to train AI but also over how it interacts with humans. Hollywood star Scarlett Johansson has raised the issue of informed consent and fair compensation after OpenAI launched a chatbot with a voice apparently similar to hers. OpenAI claims it has used the voice of another unnamed artiste for its Sky chatbot.

higher studies abroad than before, but the US continues to be their preferred destination. In 2022-23, the US issued over 1.4 lakh student visas in India, more than in any other country. A major jump is expected.

India's electronics manufacturing services (EMS) into sharp focus:

Congress leader Rahul Gandhi said on Wednesday that the system is heavily aligned against the lower castes and that he knows the system from inside as his grandmother and father were prime minister and later he used to visit the PM's house when Manmohan Singh lived there. He asserted that the country's 90 per cent population including the Dalits, OBCs, tribal communities and the minorities does not have representation in the country's narrative and power structure. Gandhi said his party aims to ensure the participation of the country's 90 per cent population in the country's progress. Addressing an event in Panchkula this evening, Gandhi took a swipe at the BJP, saying the saffron party's «end» is coming.

CNN quoting Saudi news agency SPA.Following tests, King Salman, 88, was found to have inflammation for which he is currently receiving antibiotic treatment in Jeddah.“Deeply concerned about the reports of the health of His Majesty @KingSalman bin Abdulaziz of the Kingdom of Saudi Arabia.

₹2.11 trillion, was twice the amount markets had anticipated. Taken together with the jump in market cap, the developments could act as a sentiment booster for the market over the long term, according to market experts.The all-India m-cap rose a stupendous ₹77.45 trillion over 118 sessions to Wednesday's closing of ₹416.13 trillion.

Jubilant FoodWorks Ltd (JFL) which operates master franchise rights from Domino’s Pizza in India and select global markets on Wednesday said it could potentially open over 5,500 Domino’s Pizza stores in the six global markets it operates in the medium term up from the current 2,793 outlets in these markets.To be sure, JFL operates Domino’s Pizza outlets in India, Turkiye, Bangladesh, Sri Lanka, Azerbaijan and Georgia. Last year, Jubilant Foodworks Netherlands BV (JFN), a wholly owned subsidiary of Jubilant FoodWorks Ltd, fully acquired DP Eurasia that operates as exclusive master franchisee of Domino’s Pizza in Turkey and Georgia effectively expanding its geographical footprint outside Asia.Overall, the JFL Group store network across six markets and five brands consists of 2,990 outlets as on 31 March 2024.