India Financial News

PTI quoted a participant as saying. The Flea market in Yafo was all decked up with its festive appeal attracting thousands of Indian enthusiasts to the event, these included Israelis of Indian origin and Indian students, from all over the country.

Are most revolutions doomed to become the very thing they sought to overthrow? In the world of business, this question arises in the case of Apple, widely seen as the world’s top brand. It began with a mission to bust the paradigm of centralized big-frame computing by empowering “the rest of us" with personal computers of our own. This was the story captured by 1984, a TV commercial it aired that year which showed it taking on Big Brother of George Orwell’s novel by that name.

BSE), the two leading stock exchanges, will be closed today, (Monday, March 25), on account of the Holi Festival. Therefore, there won't be any trading activity on the Indian stock market today.

Top Events on March 25: Amid Holi festivities today, India is all set to witness significant political events on Monday. These events include the BJP-IPFT meet in Tripura, Delhi metro services to begin after 2.30 pm and more. Stay tuned as we bring you comprehensive coverage of these unfolding events.

IPL 2024: Mumbai Indians (MI) failed to chase the score set by Gujarat Titans (GT) in their first match. After the end of the match, former captain Rohit Sharma and present skipper Hardik Pandya were seen getting into a discussion. Rohit did not look happy while speaking with Hardik.

Holi Bank Holiday on March 25, 2024: All banks — public and private — will be closed today on March 25 (Monday) on account of the Holi festival. Notably, this has been a long weekend off for banks with services being shut since March 23 for fourth Saturday and on March 24 for Sunday leaves.

Edited excerpts: I would interpret this as each regulator doing what they are doing in terms of good housekeeping and making sure that rules are followed. Making sure that disclosures are adequate, and processes are in place. I don't know if there is a master plan which is suddenly combining everything together, but I would say each of the regulators in their domain is doing things.

Tata Motors, as well as luxury carmakers like Mercedes-Benz and Audi, are all gearing up to roll out an array of EV models over the next few years. Mahindra & Mahindra, for instance, is set to introduce five new battery electric vehicles starting from January 2025, built on its innovative INGLO platform. Nalinikanth Gollagunta, CEO of the Automotive Sector at Mahindra & Mahindra, highlighted the company's strategy to capture a significant portion of the electric vehicle market, aiming for 20-30 percent of its portfolio to be electric by 2027.

BENGALURU : Amid a downturn in the software-as-a-service (SaaS) market, marked by declining sales and delayed purchases, innovation-led differentiation has emerged as a key challenge for most SaaS firms, globally, including in India, a top executive at Lightspeed said in an interview. Hemant Mohapatra, a partner at Lightspeed, focussing on SaaS, enterprise infrastructure, crypto, and space and satellite investments, said with rising competition, the sector has become crowded with “hundreds, if not thousands, of companies going after the same set of customers". Around 80% of the SaaS market is now saturated, with every category witnessing several alternatives over the past two decades of the internet, he added.

March 22 this year, marking the return of the students' union after a four-year hiatus. Here are the top ten updates about the JNUSU results: 1. In the polls that happened after a hiatus of four years, Dhananjay from the All India Students' Association (AISA) won the JNUSU president's post by securing 2,598 votes against the Akhil Bharatiya Vidyarthi Parishad's (ABVP) Umesh C Ajmeera who secured 1,676 votes.

Pinarayi Vijayan on Sunday said the electoral bonds scam is the biggest corruption ever witnessed in India and added the BJP government at the Centre arrested his Delhi counterpart Arvind Kejriwal to divert attention from the same. Addressing the third consecutive rally organised here by the CPI(M) against the contentious Citizenship (Amendment) Act (CAA), Vijayan alleged the BJP-led Central government and the Sangh Parivar give scant regard to the rule of the law in the country. He alleged that the Sangh Parivar was trying to take control of the Constitutional institutions and even threatening the country's judiciary. «The Union government, BJP, Sangh Parivar, they all very well know that the Supreme Court order on the electoral bond scam was harmful to them. They wanted to divert the attention from this topic and for that they have arrested Delhi CM Arvind Kejriwal,» Vijayan said.

₹9.76 trillion of the targeted ₹10.88 trillion, according to data from Reserve Bank of India (RBI). In FY23, the ₹7.78 trillion raised from SDLs had fallen short of the targeted ₹9.96 trillion. In a case resembling a year-end sale, 18 states have offered to auction SDL stock for a cumulative ₹60,032.49 crore in the current fiscal’s final weekly auction on 26 March, according to the RBI.

NPCI Bharat Billpay (NBBL), banks and fintech firms are in talks to implement banking interoperability, following central bank approval for the project, said two senior bankers with knowledge of the matter. NBBL could start work on the pipelines to enable such transactions in April, they said. “Currently, conversations are happening with the large participants in the net banking ecosystem to find the right implementation strategy,” one of the bankers said. “The top banks like HDFC Bank, SBI, ICICI Bank are the largest players in this space.”

Physics Wallah will open “as many offline centres as it can” in FY25 even if it erodes profits, founder and chief executive Alakh Pandey told ET. The Noida-based company’s aggressive approach to opening offline centres has not been dampened by the sharp drop in its net profit to Rs 16 crore in FY23 from Rs 98 crore in the previous year.

India units of luxury car manufacturers such as Mercedes-Benz, BMW and Audi may steer clear of the government’s new electric vehicle (EV) policy, which stipulates a sharp cut in import duty on condition that a $500 million investment is made in local manufacturing. The luxury car makers that have already been present in India for decades would rather accelerate local assembly of EV models in the country as the money will need to be ploughed in within three years of receiving approval under the scheme, said auto executives. The aforementioned companies didn’t officially comment on investments under the new policy. Given that luxury car manufacturers have already invested in India through plants and operations, they don’t see much benefit in another large investment for a segment that’s currently less than 2% of the broader car market. Besides, assembling kits in India already allows for a lower duty structure.

minimum wage with living wage by 2025 and has sought technical assistance from the International Labour Organization (ILO) to create a framework for estimating and operationalising these, ET has learnt. Living wages – a minimum income necessary for a worker to meet their basic needs, factoring in key social expenditure by an individual such as housing, food, healthcare, education and clothing – were endorsed by the ILO earlier this month. These would be higher than basic minimum wages. “We could go beyond minimum wages in a year,” a senior government official told ET. The ILO had agreed on the reform at its 350th governing body meeting in Geneva that concluded on March 14. There are over 500 million workers in India and 90% of them are in the unorganised sector where many draw a daily minimum wage of `176 or more, depending on the state where they work. However, this national wage floor — not revised since 2017 — is not binding on states and hence a few states pay even less than that.

credit card spends in the liberalised remittance scheme (LRS) by April 1 — a plan that has been kept in abeyance for a year. Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integrate their systems with RBI’s for capturing the card spend information of individual customers during personal foreign tours. NBBL is a subsidiary of National Payments Corp. of India (NPCI). As part of its 2025 vision document, the RBI wants all payment rails under a centralised payment system. Internet banking is the only one outside the umbrella and the regulator wants this within the fold quickly, putting it on a par with processes such as the Immediate Payment Service (run by NPCI) as well as the Real Time Gross Settlement and National Electronic Fund Transfer systems (run by the RBI).

self-regulatory body for online gaming, it may be looking at incorporating an independent regulator that will allow only registered entities to offer e-gaming services in India. The National Law University (NLU) Delhi, along with industry body E-Gaming Federation (EGF), is consulting with industry stakeholders to determine the direction that gaming regulations should take henceforth, people aware of the development told ET.

Harsh Jain and Haptik CEO Aakrit Vaish to chair its eight-member governing council in its inaugural elections starting from April 1 for a two-year term. Other members of the newly elected governing council include Vishal Gondal, cofounder and CEO of GOQii; Dhruvil Sanghvi, founder and CEO of LogiNext; Akanksha Hazari, founder and CEO of LoveLocal; Mayank Kumar, cofounder and MD of upGrad; Naiyya Saggi, cofounder of The Good Glamm Group; and Vivek Khemani, cofounder of Quantiphi.

BOWL-ERR RCB’s ’24 campaign is just a match old but their bowling was exposed during the 6-wicket defeat to CSK in the IPL opener. The spinners did not have enough resources to exploit a gradually slowingdown pitch as Mayank Dagar, Karn Sharma and Glenn Maxwell bowled five overs between them and managed 37 for 1, without troubling the batters after RCB scored 173 for 6 The RCB pacers blindly followed a shortpitch ball strategy. Mohammed Siraj, Alzarri Joseph, in particular, and Yash Dayal zealously used the quota of two bouncers per over but sacrificed their control over line and length. It reflected in their run-giving rate too — Siraj (9.5), Joseph (10.3), Dayal (9.3)

United Left panel on Sunday effected a clean sweep in the Jawaharlal Nehru University Students' Union (JNUSU) election, defeating its nearest rival the RSS-affiliated ABVP. In the polls that happened after a hiatus of four years, Dhananjay from the All India Students' Association (AISA) won the JNUSU president's post by securing 2,598 votes against Akhil Bharatiya Vidyarthi Parishad's (ABVP) Umesh C Ajmeera who secured 1,676 votes. Dhananjay hails from Gaya, Bihar, and is the first Dalit president from the Left after Batti Lal Bairwa in 1996-97.