India Financial News

India to over $4 billion in the current financial year ending June from $1.3 billion two years ago, its regional vice president for Asia and the Pacific Riccardo Puliti told ET. He said climate finance would occupy an even greater focus in the financial institution's future investment in the country. IFC is the World Bank's lending arm focussed exclusively on private sector in developing countries. «Nearly 41% of IFC's total investment this year is related to climate finance; 41% is already very high and will go higher because the whole Indian economy is moving in that direction,» Puliti highlighted.

Tata Sons is rushing to complete the integration of Air India and Vistara and operate as a single airline by the end of this year, people familiar with the matter said. They added that both the airlines have approached the civil aviation regulator and started working on merging their operations manuals and transfer of flying crew from one airline to the other. The merger is an effort by the salt-to-steel conglomerate to simplify its aviation business. As part of that, while Air India and Vistara will be merged to create a full service airline, AirAsia India and Air India Express have been integrated to create a single low-cost airline.

Kolkata Knight Riders notched up a comfortable seven-wicket win over Delhi Capitals in their Indian Premier League match here on Monday. Opting to bat first, Delhi Capitals were stopped at 153/9 by KKR's disciplined bowlers. The home team completed the chase of 154 with 21 balls to spare. While batting, KKR raced to 79 for no loss in the power play with Phil Salt (68 off 33 balls) taking the DC bowling attack to the cleaners. Earlier, Delhi Capitals scored 67 runs in the power play while losing three wickets. However, the visitors simply caved in after the dismissal of their skipper Rishabh Pant (27 off 20 balls).

home ministry has cancelled the Foreign Contribution Registration Act (FCRA) licences of six non-governmental organisations (NGOs) for their alleged violation of the FCRA rules, misuse of foreign grants, religious conversion, among others, ET has learnt. The cancellation came following a scrutiny by the Centre in March-April this year, said officials familiar with the developments. The NGOs include the Diocesan Society Church of North, Jesus and Mary Delhi Educational Society, Delhi Diocese Overseas Grant Fund, Institute of Economic Growth (IEG), Samuel Foundation Charitable India Trust and Hemophilia Federation of India (HFI). Earlier this month, the home ministry had revoked the FCRA licences of five leading NGOs on charges of violations.

BJP President J P Nadda on Monday asked who the prime ministerial candidate of the opposition bloc would be. Nadda, who addressed election rallies at Kothagudem and Mahabubabad in Telangana, said Narendra Modi would become prime minister if the BJP and its allies win the Lok Sabha polls but nobody knows who the INDIA bloc's PM candidate is. «We have decided that Narendra Modi ji will be our prime minister. But, I want to know who will become the prime minister on behalf of INDI alliance's 'arrogant' coalition. Does anyone know?,» he asked. «Who will become prime minister? Modi ji will become. But, who is the prime ministerial candidate from there (INDIA bloc)? Who is the candidate? God forbid if Rahul Gandhi becomes, if anyone brings him to the front, will he be able to fight with Corona (pandemic)?,» Nadda asked.

UGC announced that students with 4-year undergrad degrees and 75% aggregate marks or equivalent grades can now sit for the National Eligibility Test (NET) to qualify for a PhD programme. Earlier, NET candidates were required to hold a master's degree with a minimum of 55% marks. Two reasons have been cited for this change: the new system will simplify the process for students and open many research opportunities.

Tata group-backed Indian Hotels Company (IHCL) has set an ambitious aim of a double digit topline growth this fiscal, besides plans of opening 25-30 hotels. It will also launch hotels overseas, but its primary target will remain India's thriving hospitality industry. “Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,” Puneet Chhatwal, MD and CEO of IHCL, told ET in an interview. Chhatwal said while FY2025 will be a 'breakthrough year' for international expansion, the primary focus will remain on the Indian subcontinent.

WhatsApp cannot issue GoI — or any government, for that matter — a fait accompli over encryption. The right to privacy is by no means absolute in any system of law, and governments are well within their rights to seek with due process information for law enforcement. There can be debate over what constitutes due process, and how to go about satisfying its requirements. In these pursuits, law and technology need to come closer on the art of the possible. But absolute positions, such as threatening to stop services if forced to dilute encryption on occasion, can end up badly. Indian courts, unfortunately, have a long list of precedents that fetter fundamental rights. So, it would be better for everyone that things don't come to such a pass.

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DRHP) with updated financials after markets regulator Securities and Exchange Board of India (Sebi), pressed for detailed key performance indicators or KPIs, a person with knowledge of the development said. The Pune-based company is looking to raise $500 million from its public listing.

Patanjali's case tomorrow (April 30) to determine whether to press contempt charges against Ramdev or not. Earlier today, Indian Medical Association president Dr RV Asokan explained why the IMA dragged Patanjali to court saying Ramdev crossed a red line when he claimed he could cure COVID-19 and at the same time maligned modern medicine.

₹1,400 crore. The latest acquision will see the Karnataka-based hospital chain increase its bed count from 9,500 currently to more than 10,500, making it the largest healthcare group in the country, it said in a statement. Earlier, Apollo Hospitals was the biggest hospital chain in the country with around 10,103 owned and operated beds as of 31 March 2024.

MUMBAI : Unicorns on deal street are finding little love, as investors chasing rising valuations hitch their wagons to smaller startups. Founders, investors and bankers noted greater interest in companies valued up to a billion dollars, while those above $2 billion find few takers. There were 318 deals in companies valued below $1 billion this year against just five in those valued over a billion, one valued over $2 billion and none for companies that are valued over $3 billion, data from Tracxn showed.

MUMBAI : Big banks led Monday's bull charge in stocks, adding the most in percentage terms to the Nifty and Sensex, after trailing their smaller peers in valuations over the past year. The surge lifted the Bank Nifty to a record, helping the Nifty clock a new high during the day. Four of Nifty's five top gainers were banks, fetching 70% of the Nifty’s 223.45-point gain to 22,643.40.

Samajwadi Party leader Shivpal Yadav on Monday claimed the ruling BJP is scared of Mulayam Singh Yadav's family and warned that the more its leaders speak against this family, the more the victory margin of SP will be in the Lok Sabha elections. Speaking to PTI, he also expressed confidence that in the third phase of general elections, candidates of the SP and INDIA bloc will win all 10 seats in Uttar Pradesh. «BJP leaders are scared of Netaji's (SP founder late Mulayam Singh Yadav) family. The more they speak against Netaji and our family, the more the victory margin of SP candidates will be,» Shivpal Yadav said when asked about Union Home Minister Amit Shah's allegation that whatever the SP has is not for the party but for «one family». Shivpal Yadav is the younger brother of Mulayam Singh Yadav.

Indian economy's recent performance has been strong, with promising signs for the future, according to the National Council of Applied Economic Research (NCAER). In its April 2024 Monthly Economic Review (MER), the NCAER highlighted several key indicators showing the economy's resilience. The Purchasing Managers' Index (PMI) for manufacturing, for example, reached a 16-year high, indicating robust growth. Additionally, the Unified Payments Interface (UPI), a leading digital payments system, recorded its highest volume of transactions since its inception in 2016. Goods and Services Tax (GST) collections also saw a significant increase, reaching Rs 1.8 lakh crore in March, the second-highest since its introduction in 2017. Similarly, UPI transactions in March 2024 totaled 13.4 billion, marking a substantial 55.3% year-on-year growth. The NCAER report also highlighted positive global economic forecasts by the International Monetary Fund (IMF) and the World Trade Organization (WTO), which are expected to benefit the Indian economy in the current year.

gender equality have three times higher loyalty, productivity, and motivation than those working with laggards, a survey said on Monday. Deloitte's 'Women @ Work' survey said the transition to full-time work has resulted in difficult adjustments for many women professionals. Around 41 per cent women have asked for a reduction in their hours, 31 per cent said it has negatively impacted their mental well-being. These parameters are better for those who are returning to office in a hybrid setup, the survey said.

travel and tourism sector is all set to add 5.82 crore jobs across the country by 2033, a top executive of global technology and digital talent solutions provider NLB Services said on Monday. «The growing synergy of the sector has led to steadfast employment generation across the country both in tier I and II locations. In the pandemic year 2020, the tourism sector accounted for 39 million jobs, constituting 8 per cent of the nation's total workforce. Post the pandemic recovery tenure, this was one of the sectors that saw the quickest recovery,» NLB Services CEO Sachin Alug said in a statement. Incidentally, talent demand in tourism recorded a 44 per cent spike in August 2023, and 1.6 million additional jobs were expected to be added in the calendar year 2023, he said.

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Narendra Modi has become worried after learning that the Congress had been ahead in the first two phases of polls, AICC president Mallikarjuna Kharge said on Monday, while adding that the PM was attacking the Congress by referring to things the party never said in its manifesto. Neither the Indian Constitution nor the Congress election manifesto said all wealth would be distributed to Muslims, but Modi was saying so in sheer frustration after learning about the Congress party’s leads in the first two phases, the AICC president said, addressing rallies at Sedam, Gurmitkal and Kamalapur. The three assembly segments are part of Kalaburagi (Gulbarga) Lok Sabha seat his son-in-law Radhakrishna Doddamani was contesting from. Kalaburagi is one of the 14 constituencies in Karnataka that are going to polls on May 7. The Congress has only said the poor would get their due share and there was no mention of Hindus or Muslims in the manifesto. The Congress party, since the time of Indira Gandhi, had worked for the upliftment of poor people and battled poverty. Land reforms, bank nationalisation and programmes like NREGA, and Food Security Act were an outcome of the Congress initiatives, the 81-year old AICC leader said, wondering if Modi could claim credit for any such programme.

Harsh Goenka, who describes himself as a sports lover, has six tips for the BCCI for the upcoming T-20 World Cup. In a post on X on 'How can India win the T-20 World Cup', Goenka said, «Pick the team like it is done now in Dream11.» His second suggestion was to pack the team with batsmen. Goenka suggested the names of six batsmen as well: Virat Kohli, Rohit Sharma, Ruturaj Gaikwad, Shubman Gill, Shivam Dube, and Yashasvi Jaiswal.