India Financial News

Odisha, Andhra Pradesh, Telangana, and West Bengal ranging between 41 and 46 degrees Celsius. Bengaluru, which is well-known for its pleasant weather, is witnessing a record-high rise in temperatures. As per the Indian Meteorological Department (IMD), Odisha is facing the major burnt of heatwave conditions prevailing in the country.

Also Read: India VIX: Volatility may rise in the upcoming sessions following a three-month declining trend; here's why Market analysts reckon that the volatility index may rise just ahead of the election outcome. However, the increase may remain capped as the market has already priced in the stability. A significant drop in the volatility index indicates that participants are confident about the near-term market trajectory.

Sebi) on Tuesday approved a proposal to increase participation from non-resident Indians (NRIs) and Overseas citizens of India (OCIs) through the foreign portfolio investor(FPI) route in local markets. The board also cleared a proposal to simplify norms for passive schemes of domestic mutual funds allowing exposure to securities of group companies of the sponsor.

Election Commission of India (ECI) to push telecom operators to send SMSes to voters to encourage them to exercise their franchise in larger numbers in the subsequent phases, said people familiar with the matter. However, they said, while the ECI wants telecom operators to send about 100 million SMSes daily to voters, the telcos have said they can handle only about 20 million SMSes a day, citing a lack of capacity. «The Department of Telecommunications (DoT), Election Commission officials and executives from telecom operators have been meeting for the past few days to evolve a consensus on how many promotional messages need to be sent,» said an official, who did not wish to be identified.

A Portuguese-flagged container ship has come under attack by a drone in the far reaches of the Arabian Sea

Indian Oil Corporation plans to invest ₹5,215 crore in building 1 gw of renewable energy capacity in the country. The state-run company said in a stock exchange filing on Tuesday that its board has approved the investment plan, which would involve setting up «standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects» in a phased manner. The plan entails an equity investment of ₹1,304 crore by Indian Oil. The company plans to house its renewable energy business in a wholly owned subsidiary.

Sam Pitroda, a yesteryear technocrat, recently rattled the beehive after he suggested India should consider inheritance tax as a means of income redistribution. Even in the US, the super-rich avoid giving back by setting up tax-free trust funds for inheritance. In India, where tax evasion is both endemic and high, tax harvesting for distribution of wealth can only come from a highly incentivised low-tax regime with high volumes of taxpayers, for whom gains from paying up outweigh pains of evasion. In a 2001 IMF paper, 'Tax Policy for Developing Countries', Vito Tanzi and Howell Zee wrote, '...the most prevalent forms of incentives found in developing countries tend to be the least meritorious… personal income taxes have been contributing very little to total tax revenue in many developing countries'. More than two decades later, this is still true. Worse, personal income-taxpayers in India live in an abnormal environment of taxation where they get next to nothing for compliance and good citizenry. Sure, it can be argued that they get roads, utilities and other infra. But these are delivered to all citizens, including those who systematically evade taxes, giving honest taxpayers only the advantage of a good conscience.

The article goes to great lengths to explain why the central incidents — involving the alleged assassination attempt of a Khalistan advocate in the US and murder of another in Canada — did not lead to public censure of India by the US. That India today is geopolitically and commercially important to the US, and like Saudi Arabia, it got a free pass from the Americans because they are, at least at present, playing on the same team. Where the article loses me, however, is in its linking the issue of extrajudicial killings with what it sees as the rise of 'deepening authoritarianism' in India. Killing dissidents, activists and journalists on foreign soil is chilling. And jailing them in a constitutionally democratic country is, indeed, a sign of creeping authoritarianism. But surgically targeting those deemed a credible threat to national security is what the US and its allies have been doing for decades.

Serum Institute of India (SII), a day after AstraZeneca, which sold the vaccine in India, admitted in court that their Covid shot can cause a rare side effect. The parents are hopeful of justice after the AstraZeneca's admission surfaced. The pharmaceutical giant is being sued in a class-action suit over claims that its Covid-19 vaccine, developed with the University of Oxford, caused death and serious injury, including TTS — thrombosis with thrombocytopenia syndrome — a serious adverse event that causes blood clots and a low blood platelet count. Venugopalan Govindan, father of Karunya, who died after taking the vaccine, said the admission by AstraZeneca is «too late» and has come after so many lives have been lost. «AstraZeneca and SII should have stopped the manufacture and supply of these vaccines when 15 European countries either suspended or age-limited these due to deaths from blood clots that happened in March 2021, within a couple of months of the rollout of the vaccine itself.»

food regulators of two popular Indian brands of prepackaged spice-mix products allegedly containing ethylene oxide, a carcinogenic substance — denied by both companies — does raise a flag, and brows. European food authorities reportedly found the same carcinogen in 527 Indian food products. The US FDA, which had raised the issue of salmonella contamination in prepackaged spice mixes, is conducting a fresh probe.

KVS Manian, earlier today, stepped down as the Joint MD of Kotak Mahindra Bank and is now likely to join Federal Bank, according to reports. At the time of the announcement, Manian said that he was tendering his resignation from Kotak Mahindra Bank to pursue other opportunities in the financial services sector that he is currently exploring. Manian also stepped down from his position on the board of the bank.

Uttarakhand Board exam results were declared on Tuesday. Piyush Kholia of Almora and Kanchan Joshi of Haldwhave jointly secured the highest marks in the intermediate examination by securing 97.66 per cent marks, while Priyanshi Rawat topped the Class 10 securing 100 per cent marks. Rawat scored a perfect 500 mark out of 500, while Kholia of Almora scored 488 out of 500 marks. Priyanshi said, «I stopped going to any function for the High School examination for a year and kept focus on my studies. During this time my parents, teachers, and uncle also helped me a lot in my studies. I did not study more than 3-4 hours but I did it consistently.»

fintechs and law enforcement agencies on steps to foster strong collaboration and address key challenges such as cybersecurity and digital financial fraud. Some key issues that were discussed in a workshop held by the finance ministry on Tuesday included the creation of a suspicious registry of banking correspondents and fraudsters involved in financial fraud and the geotagging of digital transactions to track the money trails.

Indian elections — if you have nothing better to do beyond the actual act of voting — is how la-la outlandish they have become. Take Akshay Kanti Bam. The man was Congress candidate for Indore a few hours before he dropped out to join BJP. This is the same candidate whose nomination BJP had earlier objected to owing to 17-year-old attempt-to-murder charges against him. So, as a voter, if you had decided to vote for Congress candidate Bam on May 13, now you have a choice of not voting, opting for Nota, or voting for anyone else, including the incumbent BJP MP. That's like going to a supermarket for bread, not finding it there, and having the option of not buying anything, or coming home with, say, eggs. Bam's case is interesting, since it tells us much about what's going on in the 'world's biggest democratic exercise'. If candidates are replaced by, say, lampposts, it doesn't really matter. What matters is your party and/or poster boy of choice. The rest of the fray may just well be a number.

In the ever-evolving landscape of India’s real estate sector, 2024 is poised to witness a heightened surge in the investments by non-resident Indians (NRI), particularly in the luxury residential market. As per a NoBroker report, between 2019 and 2020, NRIs constituted 10% of total real estate investments in India, which surged to 15% in 2023 and are projected to reach 20% by 2025. This surge in interest in luxury properties is fuelled by various factors that make the industry an increasingly lucrative investment opportunity for them.

India’s Silicon Valley Bengaluru has again emerged as the numero uno city in terms of rise in rental yields in top 11 cities/regions of the country, according to an ANAROCK report. Mumbai was second on the list followed by Gurugram.

InfraMantra, one of the leading PropTech advisory firms in India, has exceeded its sales target of Rs 1000 crore for the fiscal year 2024 and has set a more ambitious target of Rs 2000 crore for FY2024-25.

Insurance companies can no longer refuse to sell health cover to citizens above the age of 65 years. However, for a senior citizen buying insurance for the first-time, it will still not be easy due to the high premiums and the need for a medical check-up for all pre-existing conditions, explains Saikat Neogi

In the fast-paced world of high net-worth individuals (HNIs), investment choices extend beyond financial returns. They seek a blend of profitability, purpose and prestige. Understanding these sophisticated investors reveals the highly diverse nature of an HNI’s investment portfolio.

Royal Green Realty has announced the launch of the new phase of its Royal Green County project in Bahadurgarh, Haryana, named ‘The Select.’ Spanning across 40 acres of land, this project comprises villas, floors, plots, first-time SCO, etc.

The Ministry of Railways keeps sharing captivating glimpses of the enchanting journeys offered by Indian Railways time and again. In another such tweet posted on X, formerly known as Twitter, the national transporter captured the Vande Bharat Express gliding through the picturesque landscape in Thrissur, Kerala.