India Financial News

PayNearby, India’s leading branchless banking and digital network, has announced a strategic partnership with MyShubhLife, an embedded credit platform. This collaboration aims to provide distributors with easy access to revolving credit lines, enhancing financial agility in the MSME sector.

Vedanta Ltd has decided to endorse the demerger of the group’s flagship, ending a nearly seven-month deadlock, confirmed two persons directly aware of the development. The delay had been over the proposed allocation of $7 billion worth of debt owed to Vedanta's creditors in India, including State Bank of India and Bank of Baroda.

Deccan Herald, quoting sources. On Tuesday, the SIT formed by the Karnataka government, had issued summons to Prajwal and his father to appear before them for questioning. Also Read: Prajwal Revanna sex video case: Hassan MP himself sought gag order on assault videos in 2023, says report Reacting to the summons, Prajwal took to X, formerly Twitter, and said that he was not in Bengaluru, and truth will prevail.

Prime Minister Narendra Modi on Thursday labelled the Congress party as a “disciple” of Pakistan, alleging that the neighbouring country is eager to see the Congress leader Rahul Gandhi, referred to as ‘shehzada’ (prince), become the next Prime Minister of India.

Over the last few years, the Indian real estate sector has observed a notable shift, as homebuyers are increasingly looking out for serene and offbeat destinations that are far away from the hustle and bustle of metropolitan cities. Cities like Sonipat, Bhiwadi, Panchkula, and Meerut have emerged as premier locales for residential investments, boasting a blend of natural beauty, cultural richness, and a growing economy. This transition reflects a desire for a better quality of life, where serenity meets modern amenities in a relaxed environment.

₹1,765.40 apiece on the BSE Thursday after the company reported strong earnings for the quarter ended March 2024. Netweb Technologies India’s net profit in the fourth quarter of FY24 jumped 181.8% to ₹29.66 crore from ₹10.52 crore in the year-ago quarter. The company’s revenue from operations in Q4FY24 increased 115.48% to ₹265.80 crore from ₹123.39 crore, YoY.

Indian stock market today: Global equities witnessed a strong rebound after the US Fed meeting, which signaled a willingness to go for a rate cut once there is an ease in the inflation concerns. On Dalal Street, the frontline Indian indices and broad market witnessed buying interest during morning deals, which are still underway.

Recently, the Insurance Regulatory and Development Authority of India (IRDA) declared that they won’t be changing the rules about surrender value for life insurance policies in the country. This decision came after some uncertainty when IRDA was thinking about increasing surrender values back in March.

The recent Lokniti pre-poll voter survey was played up in press reports for the wrong reasons. Voters’ party preferences got headlines, but pre-poll findings on party shares are always suspect because voters may not have finally chosen, or might not reveal their true choice even if they have. What the survey yielded of value was issues of concern to voters.

The Insurance Regulatory and Development Authority of India (IRDAI) has reportedly fixed the pricing of ‘Bima Vistaar’ – a single insurance product that covers life, health, accidental damage and property. This all-in-one insurance product, designed for people living in rural areas of the country, is priced at Rs 1,500 per policy, various media reports suggest. These reports have cited industry officials who attended a two-day programme called ‘Bima Manthan’ held on April 25-26 in Hyderabad.

The Special Investigation Team (SIT), probing the obscene videos case involving former prime minister HD Deve Gowda’s grandson and JD(S) Lok Sabha candidate from Hassan constituency, Prajwal Revanna, on Thursday issued a lookout notice against him.

In one of the biggest reforms for the bonds market in India, capital market regulator SEBI has given its go-ahead to a proposal to cut the minimum ticket size of bond investments to Rs 10,000 from Rs 1 lakh.

₹30,000 price segment in India with the launch of the Vivo V30e smartphone. The camera-focused smartphone starts at a price of ₹27,999 in India, giving tough competition to the likes of Realme 12 Pro, Nothing Phone 2a and OnePlus Nord CE 4. Vivo V30e starts at ₹27,999 for the 8GB RAM/128GB storage variant and ₹29,999 for the 8GB RAM/256GB storage variant.

When Invesco decided to sell 60% stake to the Hinduja group earlier this month, it didn’t surprise anyone. That’s because only a handful of foreign fund houses have been able to grow in the country even though the Indian mutual fund industry has already topped Rs 50 trillion (Rs 54 trillion in FY24).

Aadhaar, UPI, and Fastag. A Nasscom report in February 2024 had stated that DPI could help India become an $8-trillion economy by 2030. The economic value added by DPI could increase to between 2.9% and 4.2% of GDP by 2030, from 0.9% in 2022, it said.

Q4 results 2024: Gujarat Toolroom share price has been on an uptrend for the last two days. The small-cap stock of 162 crore came under the radar of Dalal Street bulls when the company declared its board meeting date for discussing and approving the financial results for Q4FY24. In an exchange filing, the small-cap company informed the Indian stock market exchanges about the board meeting date and its agenda on April 29 2024.

Question: As the new financial year has commenced, kindly guide us on the requirement for submission of Forms 15G & 15H by the taxpayers to banks. Who are the eligible taxpayers to submit the said forms? Further, what are the applicable deadlines for submitting these forms?

Godrej Group reached, the family will not compete among themselves for six years except in one business. Realty is the only business they can compete in, it has been agreed under the deal. As for other businesses, they can compete with each other after the six-year period ends, but not under the Godrej brand name, various reports said on May 2. In family settlement cases, non-complete agreements are a standard practice, in India as elsewhere. For the Godrejs, the non-compete period started on April 30.

India's food safety regulator said on Thursday it had ordered nationwide testing and inspections at all companies making spice mixes, widening a crackdown on the sector as global regulators investigate contamination issues with two popular local brands. Hong Kong last month suspended sales of three spice blends made by India's MDH and an Everest spice mix for fish curry. Singapore ordered a recall of the same Everest mix as well, flagging high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure. MDH and Everest products are hugely popular in India and also sold in Europe, Asia and North America, and the companies have said they are safe. Still, U.S. and Australian food authorities said they are gathering more information on the matter, and India had already ordered testing of the two brands' products.

The Times of India quoted the girl's father Govindan as saying. A senior member of the Covid working group of the government said, "In spite of the uncommon risk of TTS, Covishield, which was used to vaccinate 90% of India's population, has done well in India," reported ET.

Bank Nifty was down by -8.7(-0.02%) at 02 May 2024 10:44:56 IST.Other stocks such as Kotak Mahindra Bank hit their fresh 52 wk lows today.