India Financial News

risen considerably against Indian rupee in the past few weeks, Indian students travelling to the UK for overseas education later this year stare at a tougher (er.. expensive) times ahead. With pound going upward from ₹100 per unit to ₹105 per unit in the recent past, the cost of foreign education of UK-bound students has undoubtedly seen a considerable jump.

MUMBAI : India's top small-cap fund managers will require substantial time, in some cases up to 30 days, to liquidate a quarter of their portfolios during market upheavals, as revealed by stress tests conducted by various fund houses. Fund houses would likely need between six days and 30 days to exit a quarter of their small-cap portfolio, and 12-60 days to liquidate half of the portfolio. If a fund takes longer than two to three days to return investors' money, it suggests stress in the portfolio.

startupindia.gov.in, serves as a comprehensive database encompassing various categories such as investors, incubators, academia, government bodies, mentors, and industry bodies. It provides a one-stop platform for stakeholders to connect, collaborate, and catalyze growth within the ecosystem. "Through the creation of the Bharat Startup Ecosystem Registry, we aim to ensure that everyone in the ecosystem is acknowledged and supported," said Sanjiv, joint secretary (Startup India) at DPIIT which is under the commerce ministry.

external affairs minister S Jaishankar said India has begun to take manufacturing seriously, adding that the world's perspective towards the country's technological landscape has changed in the past decade. Speaking at the ET Awards in Mumbai, the minister said, «India is beginning to take manufacturing seriously. Without manufacturing, no one will take you seriously on technology,» he said.

revenue collection and track laying in the financial year 2023-24. In a press statement, the ministry said, «As per the preliminary data, IR (Indian Railways) has crossed an originating freight loading of 1500 MT today on 15th March, 2024. Previously, IR had achieved the best ever freight loading of 1512 MT during FY 2022-23. »During FY 2023-24, total revenue of Indian Railways stands at Rs 2.40 lakh crore as on date. Last year on 15th March, total revenue was Rs 2.23 lakh crore, an increment of Rs 17,000 crore. Total expenditure of Indian Railways stands at Rs 2.26 lakh crore in FY 2023-24," it stated. According to the ministry, the number of passengers during FY 2023-24 stood at 648 crore, an increment of 52 crore compared to the figures of the same period of last year.

Risk Manager Award by the London-based Central Banking as part of Central Banking Awards 2024. "Reserve Bank of India has been selected for the Risk Manager Award by Central Banking, London, as part of Central Banking Awards 2024, for rolling out a new enterprise-wide risk management (ERM) framework across the organization," RBI said in a post on X.

Karimnagar district is set to see polling activity as the Lok Sabha elections draw closer each day, with the Election Commission of India set to announce dates for the nationwide polls any time now. One of the Telugu state's 33 districts, Karimnagar is an erstwhile Congress stronghold, with the Bharat Rashtra Samithi and the Bharatiya Janata Party taking the seat away from the Gandhi-led outfit in recent years. The seat is currently held by the BJP's Bandi Sanjay, who snagged it from the BRS in the 2019 Lok Sabha elections.

Madras High Court on Friday directed the police in Tamil Nadu's Coimbatore to grant permission with certain conditions to BJP to conduct a four km road show of Prime Minister Narendra Modi in that city on March 18. Justice N Anand Venkatesh gave the directive to the Assistant Commissioner of Police, R S Puram Range, on a petition filed by J Ramesh Kumar, BJP District President, Coimbatore, challenging an order denying permission to BJP to conduct the road show on Monday. In his petition, Ramesh Kumar submitted he had applied for permission with the police on March 14 to permit him to conduct a road show for a span of four km via Mettupalayam road, Coimbatore for the purpose of enabling people to meet the Prime Minister. The road show was to sensitize the people of Coimbatore about various welfare schemes launched by the PM and urge them to avail them through Direct Benefit Transfer without any interference of touts and also promote the habit of saying no to drugs keeping in perspective the recent incidents hazardous drug trafficking in Tamil Nadu, he added.

inflation within tolerable limits, finance minister Nirmala Sitharaman, said on Friday at ET Awards 2023. «Inspite of Covid, and value chain disruptions, droughts, and floods, this government has been very focused on keeping inflation within tolerable limits,» she said. While talking about the labour market, the FM added that it is going through a massive transformation with formalisation of the economy, including women participation in labour force.

stress test report, mentioning the number of days they will require to liquidate 50% and 25% of their mid-and-small-cap schemes portfolio. This move came after the market regulator asked MFs to frame a policy to protect investor interest during the market crash and redemptions. Nippon India Small Cap, the largest scheme in the smallcap category based on assets managed, will take 27 days to liquidate 50% portfolio, while Quantum Smallcap Fund, the smallest scheme in the smallcap category, will be able to liquidate 100% of its portfolio holdings in one day.

Navy Chief Admiral (retd) L Ramdas passed away on Friday at a military hospital here. He was 90 and was suffering from health issues related to old age. Ramdas, who was admitted to the hospital on March 11, breathed his last Friday morning, his daughter Sagari R Ramdas said. «He came to stay with me here in Hyderabad about nine months ago because he was not keeping good health,» she told PTI. The funeral will be held in Hyderabad on March 16, she said.

Ministry of Defence (MoD) on Friday greenlighted the upgrade of 25 Dornier aircraft. The Ministry of Defence on Friday signed a contract with Hindustan Aeronautics Limited (HAL) on March 15, for Mid Life Upgrade (MLU) of 25 Dornier Aircraft along with associated equipment for the Indian Navy at a cost of Rs 2,890 crore. The MLU for Dornier Aircraft includes an upgrade to incorporate state-of-the-art avionics systems and primary role sensors, the Defence Ministry said.

Election Commission of India (ECI) should play its role in restoring democracy in Jammu and Kashmir and announce dates for both Parliament as well as assembly polls in the Union Territory, National Conference vice president Omar Abdullah said here on Friday. «We have no expectations from the Election Commission. The EC should play its role as part of its mission of maintaining democracy. It has been 10 years that J-K has not seen an assembly election,» Abdullah told reporters here. Referring to the submission of a report by former President Ram Nath Kovind-led committee on 'one nation one election, the former J-K chief minister said it was a golden opportunity to start the policy from J-K. «The former president has submitted a report on 'one nation, one election'. What can we hope for from them: drum-beating 'one nation one election' if you do not start from J-K. Is it to fool the people?

Follow Electoral Bonds Data Live updates here However, there's no way to find out which donor/company donated how much to which political parties. This was despite the Supreme Court raising concerns in its February 15 judgement that the now-scrapped Electoral Bond Scheme can lead to quid pro quo. In later rulings, the Supreme Court said the State Bank of India (SBI) does not need to match the names of electoral bond buyers with specific political parties.

joint secretaries have been appointed in different central government departments as part of a senior-level bureaucratic reshuffle effected on Friday by the Centre. These officers are from Indian Administrative Service (IAS), Indian Police Service (IPS), Indian Revenue Service (IRS) and India Postal Service (IPoS) among others. Senior bureaucrat Deepankar Aron has been named joint secretary, department of chemicals and petrochemicals, Harish Kumar Vashisth will be joint DG, Directorate General of Civil Aviation and Siddharth Mahajan has been named as joint secretary in the department of commerce, according to a personnel ministry order. Anand Madhukar will be Additional DG, Archaeological Survey of India, Swati Meena Naik has been named as the joint secretary, department of drinking water and sanitation, and Ravi Shanakar and Gulzar N will be joint secretaries in the department of food and public distribution.

Yashwant Sinha handed over the accolades to India's top industrialists exactly at The Economic Times Awards for Corporate Excellence in Mumbai on October 24, 1998. The event, which has acknowledged the contributions of the India Inc's who's who for decades, with the latest edition set to announce the awardees on March 15, 2024. This year's edition termed S Jaishankar, Minister of External Affairs, as the Reformer of the Year. AM Naik, Chairman Emeritus, Larsen & Toubro, has been awarded the Lifetime Achievement Award.

Rajnath Singh on Friday asserted that the days were not far when 'Ram Rajya' will be established in India, which would be among the top three economies in the world by 2027. He also hit out at those branding the BJP communal over the implementation of the Citizenship (Amendment) Act or CAA and demanded to know under what circumstances the population of Hindus in Pakistan dwindled to about 3 per cent from about 23 per cent. Addressing a rally at Itkhori, around 160 km from state capital Ranchi, Singh said, «Ram Rajya will be established in India with the consecration of Ayodhya temple… Ram Lalla has reached his palace from his hut.» «India will be 'vishwaguru' (world leader) under Prime Minister Narendra Modi on the back of development work undertaken by him and it is God's wish that he remains the PM not only for the third time but for the fourth time as well,» he said.

At the discussion on 'India & Indo-Pacific: Threats and Opportunities', held as part of the India Today Conclave 2024, the Army chief was asked a range of questions in the context of China's growing influence in the region and the future preparedness of the army «if the situation along the LAC escalates». The eastern Ladakh border standoff erupted on May 5, 2020, following a violent clash in the Pangong Lake area.

Finance Minister Nirmala Sitharaman on Friday denied any link between the functioning of investigative agencies, including ED raids, and electoral funding to the ruling party, saying these allegations are just assumptions. «What if the companies gave the money, and after that, we still went and knocked at their doors through ED (Enforcement Directorate). Is that a probability or not...It is an assumption that the ED went and knocked at their doors, and to save themselves they came up with funds. The second assumption is that are you sure that they have given (electoral bonds) to BJP. What if they probably gave to regional parties,» she said while speaking at India Today Conclave. The finance minister's comments came a day after the Election Commission of India published a list of subscribers of the electoral bonds and funds mobilised by various political parties. The list provided by State Bank of India, the issuer of electoral bonds, was published after the order of the Supreme Court.

Competition Commission of India (CCI) Friday ordered an investigation into Google's Play Store billing policies, against which Indian internet companies have raised concerns. In a 21-page order, the antitrust regulator said it is of the view that, prima facie, Google has violated provisions of the Competition Act, which warrants a detailed probe into the matter.