India Financial News

NaBFID) plans to raise up to $4.8 billion (around ₹40,000 crore) in local currency bonds, Bloomberg reported citing sources. The state-backed lender aims to more than double its loan disbursement, it added.

campus hiring in 2023 is female, according to a report by HirePro, an AI-powered recruitment automation firm. HirePro has released its report on the «State of female participation in campus hiring in India». The report reveals that women's participation in campus hiring exams stands at 34% and suggests that the highest proportion of women being recruited by organisations in India is among freshers. In 2023, 40% of the fresh talent hired from college campuses were women, a 5% jump from the previous year, when the figure stood at 35%. An in-depth analysis of the report reveals that most of the women's participation in campus hiring exams in the fiscal year 2023 was for sectors such as IT, BFSI, and R&D.

market as India heads into general elections scheduled to start in a month from now. Sales, which typically surge ahead of general elections, are expected to be muted with political parties refraining from promising free devices to their constituents as has been the case before. Market trackers said tepid demand has dampened sales in the high-volume sub-₹20,000 price segment that was expected to revive this year led by budget 5G smartphones. According to Counterpoint Research, smartphone sales fell around 5% on year in January, with similar trends being observed for February. «Post festive season effect, increased replacement cycles and absence of government money infusing policies are some of the reasons for slow demand,» said Shilpi Jain, senior research analyst at Counterpoint Research.

India is at the top of the chart for global investors, said HSBC India CEO Hitendra Dave. The absence of global banks in Indian retail lending and the soaring wealth effect of the Indian middle class have provided a springboard for HSBC India to become the vital lever of growth for the British bank, Dave said in an interview with Bhaskar Dutta and MC Govardhana Rangan. Edited excerpts: Among global banks, with Citi exiting retail, you are alone in the competitive retail space. What is it that you are seeing that others don't? My sense is that there is place for only one international bank to have the ambitions and market-share aspirations of a local bank while continuing to operate as an international bank — be it governance, structure, product, technology, and servicing. What distinguishes us is just the totality of all these things — the aspirations of a local, private bank but operations like an international bank. It is very important to have the emotional connection of a domestic bank. I can't judge myself, but I think we are that international bank. When you talk to large customers, if you ask them which is that one international bank which is ticking these boxes? I hope most people will say HSBC.

influencer marketing agency YKONE has bought a controlling stake in Indian content and influencer marketing agency Barcode Entertainment to foray into the Indian market, top executives of both firms told ET. YKONE has bought a 70% stake in the Mumbai-based Barcode for an estimated valuation of $18-20 million. The two companies refused to confirm the value of the transaction, which is one of the biggest in the fledgling influencer marketing industry, pegged at ₹1,200 crore. YKONE has paid cash to acquire the 70% stake and intends to buy out the remaining 30% stake through an equity swap. Rahul Khanna, CEO of Barcode, will become a board member of YKONE.

2024’s growth forecast for India due to stronger than expected momentum at the start of the year. An improving global economic environment and an expected gradual easing of domestic financial conditions will support economic activity," the news platform Economic Times quoted S&P Global Market Intelligence economist as saying. The revised forecast comes days after Moody raised India's growth forecast to 8% from 6.6% in FY24 on the backs of strong domestic consumption and high expenditure from the government.

₹1,440 crore from optionally convertible debentures, or OCDs, to ATC Telecom Infrastructure, the loss-making carrier told the Bombay Stock Exchange on Tuesday. ATC will hold 2.9% of the revised shareholding after conversion, the company told Mint. “As per the terms of the OCDs, on March 18, 2024, ATC has requested VIL for conversion of 14,400 OCDs amounting to ₹1,440 crore into 1.44 billion fully paid-up equity shares of face value of ₹10 each.

₹18.3 trillion, respectively. Such a large-scale shift to digital payments was unthinkable in an emerging economy like India till a few years ago. What is praiseworthy is the trust earned by this payment mode from millions of people, a large fraction of whom are not tech-savvy.

Maharashtra and Rajasthan are among India’s large states in terms of population. The former is also among the most prosperous, with its economic growth driven by the services sector, primarily financial and IT services. The state accounted for over one-third of all direct tax collections in the country and around 15% of the GST mop-up last fiscal year.

₹30,000 price segment like the Nothing Phone 2a, Realme 12 Pro+, Redmi Note 13 Pro+ and more. Also Read | Realme Narzo 70 Pro 5G with 50 MP camera, Dimensity 7050 SoC launched in India: Price, specs, launch offers and more Even before the official launch, OnePlus has already revealed a number of key specifications of the device, including its display, processor, charging capabilities and more.

plants a bomb in a cafe. Another man comes from Delhi and raises pro-Pak slogans in the Vidhan Soudha. Another man comes from Kerala and throws acid at college students," the BJP MP said.

Meta said that it will enable an India-specific Elections Operations Centre to identify potential threats and implement appropriate measures in real time across the company's various applications. Meta also said that its India-specific operations centre will bring together experts from various areas across the company, such as data science, engineering, research, operations, content policy and legal teams.

Supreme Court on Tuesday directed the Ajit Pawar faction of NCP to issue a public declaration that the use of «clock» symbol by it for campaigning in the Lok Sabha and assembly elections is «sub-judice and subject to the outcome» of the challenge by the Sharad Pawar faction to the decision of Election Commission of India. ECI had recognised the Ajit faction as the real NCP. Aggrieved by ECI's decision, the Sharad faction had moved the apex court. A bench headed by justice Surya Kant directed the Ajit faction to issue a public notice in newspapers in English, Marathi and Hindi editions. The bench has ordered that such a declaration should accompany all advertisements to be issued by NCP. «Such declaration shall be incorporated in every template, advertisement, audio or video clip issued» on behalf of NCP, the court ordered. The Supreme Court bench also ordered that a «man blowing Turah (trumpet)» symbol shall not be allotted to any other political party, independent candidate and the same shall not be used in any manner by the Ajit faction. ECI and the Maharashtra State Election Commission have been directed to take necessary actions in this regard.

CAA rules, the Matua community's umbrella organisation on Tuesday asked its members to apply for citizenship only after the formation of a new government at the Centre if they don't have the necessary documents required to prove their previous residential addresses in Bangladesh. The Centre has launched a portal for applying for citizenship under the CAA but many Matua members have faced difficulty in Column 5 of the portal during application. All India Matua Mahasangha has asked its members to not apply for citizenship under the new law for now as many of them do not have required documents. Mahasangha's general secretary Mahitosh Baidya told ET: «Many Matua members tried to fill the online application but have faced difficulties. In column 5, documents related to Bangladesh have been sought like Bangladeshi passport, birth certificate, land deeds or business or job related documents. This column cannot be skipped as 'Not Applicable' and thus they cannot go to the next level.»

Supreme Court on Tuesday refused to grant an interim stay on the implementation of the Citizenship (Amendment) Rules of 2024 which effectively brought into force the Citizenship Amendment Act, 2019. A bench headed by Chief Justice of India DY Chandrachud, however, issued notice to the central government on a slew of interim applications, as many as 20, seeking a stay on the implementation of the rules. The Centre has been given three weeks to respond to the petitions. The batch of petitions will come up for resumed hearing on April 9. Appearing on behalf of the Centre, solicitor general Tushar Mehta told the bench that CAA «does not take away citizenship of any individual». He added that it would be wholly wrong and «misleading» to equate CAA with the National Register of Citizens.

judicial intent of better informing voter choice through disclosures about electoral bonds (EBs) is obviously welcome. But here's the thing — could it lead to a perverse outcome of driving corporate donations to political parties further underground during the upcoming elections? Corporate donations through EBs were premised upon a layer of anonymity by maintaining uncorrelated lists of donors and recipients. If this correlation is established through additional information provided by issuer of the bonds, SBI, companies face the prospect of loss of reputation, or even litigation.

India will play a key role in Prime Video's strategy to acquire the next 250 million subscribers outside the United States (US), a top company official said at an event in Mumbai. Prime Video and MGM Studios Head Mike Hopkins highlighted India as a crucial market for the streaming platform. He also highlighted the growing popularity of streaming among Indian audiences. «As we look at the next 250 million subscribers that we're going to acquire, they are going to come from outside of the United States. And we're not going to be able to achieve that unless we do a really good job for customers in India as well,» Hopkins said in a conversation with film producer Karan Johar.

India with AI skills and knowledge may see salary hikes of more than 54 per cent with those in IT and research and development enjoying the highest pay increases, according to a report by Amazon Web Services (AWS). Around 99 per cent of employers envision their companies becoming AI-driven organisations by 2028, the report commissioned by Amazon subsidiary AWS stated. «While most employers (97 per cent) believe their finance department will be the biggest beneficiary, they also foresee IT (96 per cent), research and development (96 per cent), sales and marketing (96per cent), business operations (95 per cent), human resources (94 per cent), and legal (92 per cent) departments driving significant value from AI too,» it said.

Maharashtra Deputy Chief Minister Ajit Pawar on Tuesday gave an undertaking to the Supreme Court that the Nationalist Congress Party (NCP) led by him will not use the name or picture of party founder Sharad Pawar on banners, posters or any election material. Ajit Pawar had spllit the NCP in July last year and walked away with a majority of MLAs to join the BJP-Shiv Sena government led by Eknath Shinde. He furnished an undertaking before a bench of Justices Surya Kant and KV Viswanathan pursuant to a March 14 order by the apex court. «The Respondent has duly instructed the rank and file of the party to refrain from using the photographs or name of Sharad Pawar on any poster/banner of Nationalist Congress Party,» the undertaking said.

TVS Motor Company and Sun Pharma, on Tuesday launched the Indian Foundation for Quality Management, a not-for-profit company with an aim to foster a culture of quality and innovation within Indian businesses. Other members of the consortium are Motherson Group, Bharat Forge, Boeing India, and Biocon. The initiative under the Indian Foundation for Quality Management (IFQM) aims to propel the "Make in India" brand on the global stage, a statement by IFQM, a Section 8 not-for-profit company, said.

Narendra Modi will be speaking at the Startup Mahakumbh event in New Delhi tomorrow. “At 10:30 AM tomorrow, I will be speaking at the Startup Mahakumbh, a forum which brings together stakeholders from the world of startups, innovators and upcoming entrepreneurs. India’s strides in the world of Startups has been phenomenal in the last few years,” Modi said on microblogging platform X.