India Financial News

—Name withheld on request Your query infers that you are no longer a person resident in India under the Indian Foreign Exchange Control regime, i.e., Foreign Exchange Management Act (FEMA). We assume that you are now a non-resident Indian (NRI). Sovereign gold bonds (SGBs) issued by the Reserve Bank of India (RBI) can be purchased by resident individuals and even HUFs (Hindu Undivided Families).

Japan International Cooperation Agency (JICA) for $125 million to fund mostly farmers and women entrepreneurs in rural and semi urban India. This is the second such fund raise by the company in the past four months. At least 40% of the funds will be allocated to women borrowers while the rest will be disbursed to farmers, MSMEs, and two-wheeler loans. Last November, L&T Finance sourced $125 million from Asia Development Bank for a similar lending programme. “Despite steady rural economic growth, accessing financial services remains a challenge for rural communities, Ms. Apurva Rathod, Company Secretary & Chief Sustainability Officer of the company. ``A large percentage of marginal farmers lack formal access to credit, with women being disproportionately affected.”

China said on Tuesday that it supports the Maldives in safeguarding its sovereignty, as the first batch of Indian military personnel operating a helicopter left the island nation and was replaced by a civilian crew. Indian military personnel stationed in the Maldives manning the operations of a helicopter left the country after handing over the operations of the chopper to an Indian civilian crew, the Maldivian media reported on Monday. Asked for his comments on the first batch of the Indian military personnel's withdrawal from the Maldives, Chinese Foreign Ministry spokesperson Wang Wenbin said he was not aware of the specifics. «China supports the Maldives in safeguarding its territorial sovereignty and carrying out friendly cooperation with all sides on the basis of independence,» he said.

NEW DELHI : Jet Airways received a glimmer of hope for its revival after an appellate tribunal directed the bankrupt airline’s lenders to hand over the company to its successful bidder, the Jalan-Karlock consortium, within 90 days. The National Company Law Appellate Tribunal on Tuesday also upheld the resolution plan for Jet Airways, which has been grounded since 2019 amid mounting debt and a liquidity crisis. The National Company Law Tribunal had in January 2023 allowed the handover of Jet Airways’ ownership to the Jalan-Karlock consortium.

NEW DELHI : India’s tourism sector is yet to recover from the pandemic years, with international travellers who bring in higher tourism dollars preferring other countries in the Asia-Pacific region over domestic destinations. Despite a resurgence of global travel last year, India welcomed only about 7.24 million international travellers in 2023, according to the ‘India State Ranking Survey’ by hospitality consultancy Hotelivate and The World Travel & Tourism Council (WTTC). Prior to the pandemic, in FY20, India received about 10.93 million international travellers, as per India’s tourism ministry. Of them, about 6.98 million were non-resident Indians visiting family and friends back home.

Mixed Route Juice has secured the complete 360 advertising (ATL & BTL), marketing, and digital mandate for Project Vikalp, which operates in the realm of Women’s Sexual rights by Ipas Development Foundation. The project targets rural regions in Rajasthan, Madhya Pradesh, and Assam.

Bank lockers have been an essential part of India’s banking ecosystem for decades. They serve as a secure space for storing valuables ranging from documents to gold and jewellery. India is the second largest consumer of gold in the world, with 22,000 – 25,000 tons of gold in private Indian households, which is 12% of the world’s gold ever mined.

The 2024 Lok Sabha Election for the Deoria Constituency in Uttar Pradesh, one of the state’s 80 Lok Sabha seats, is anticipated to take place in March of this year. The specific dates for voting and the announcement of results will be confirmed following an official declaration by the Election Commission of India. Below are the key details regarding the Lok Sabha Election 2024 for the Deoria Constituency in Uttar Pradesh that are essential to be aware of.

Amidst the arid expanse of Rajasthan’s Pokhran, Prime Minister Narendra Modi bore witness to the 50-minute-long integrated tri-service firepower and manoeuvre exercise dubbed “Bharat Shakti.”

The benchmark equity indices Nifty 50 and Sensex ended Tuesday’s trading session in positive territory. The Nifty 50 closed 3.05 points higher to settle at 22,335.70 points. While S&P BSE Sensex closed 165.32 points higher to settle at 73,667.96 points. Nifty Bank pulled back 45.45 points or 0.10% to settle at 47,282.40.

In an attack at the BJP-led central government over the implementation of the Citizenship (Amendment) Act, West Bengal Chief Minister Mamata Banerjee on Tuesday alleged lack of clarity on the notified rules and expressed doubts about its legal validity.

₹1,200 crore Gandhi Ashram Memorial masterplan at Sabarmati in Ahmedabad, Gujarat. During the event, he also opened the redeveloped Kochrab Ashram. Addressing the gathering, PM Modi highlighted the significance of cherishing the country's heritage.

Stock market today: The Indian stock market witnessed sharp selling pressure on Monday as the majority of the indices ended red in the previous session. However, some bottom fishing is being witnessed in the key benchmark indices but the small-cap and the mid-cap indices are still under huge selling pressure.

Edited excerpts from the interview: It has played out really well. For me real estate has outperformed the equities portfolio. If you remember, around the end of 2020 and early 2021, the stock market had already recovered from the covid lows.

Retail inflation, IIP data to come today: Here's what experts expect Nifty 50 opened at 22,334.45 against the previous close of 22,332.65 and touched its intraday high and low of 22,452.55 and 22,256 respectively, during the session. The index finally closed 3 points up at 22,335.70. The Sensex opened at 73,516.42 against the previous close of 73,502.64 and touched its intraday high and low of 74,004.16 and 73,342.12 respectively.

UltraTech Cement, ACC, Ambuja Cements, Shree Cement share price have remained volatile and down up to 5% during last one week. While the Cement stocks had seen sharp rally till February, it is the weakness in Cement prices that is one of the reasons attributed by analysts for volatility in share prices now.

in-plant railway siding project (of Maruti Suzuki) was inaugurated by PM Modi in Gujarat on March 12. The project is at Hansalpur in Gujarat's Mehsana district. Modi inaugurated it virtually from a function in Ahmedabad. Modi also inaugurated and laid the foundation stone of Rs 85,000 crore railway projects, including the launch of 10 new Vande Bharat trains, from Sabarmati area of Ahmedabad. He also visited the Dedicated Freight Corridor's (DFC) Operation Control Centre. The project is under PM Gati Shakti mission, in collaboration with the Gujarat government, Indian Railways, and MSIL. The cost of the project is Rs 976 crore. This is the first time in India that an automobile company has established an in-plant railway siding, Rahul Bharti, MSIL's Executive Officer for Corporate Affairs, said.

Green Card backlog, an issue that is majorly impacting Indian professionals and the issues related to the H-1B visa. At the first-of-its-kind 'Tech Immigration Summit' at the US Capitol on Monday hosted by the Foundation for India and Indian Diaspora (FIIDS), the lawmakers pushed for removing the seven per cent country quota when it comes to issuing Green Card or legal permanent residency to foreign guest workers in specialised categories. In the absence of such a move, the Green Card waiting period for Indian immigrants would be more than 20 years and over 70 years in many cases.

Pokhran firing range in Rajasthan to witness the Bharat Shakti exercise, showcasing the prowess of indigenously manufactured defence equipment of the three services. The exercise, held for about 50 minutes, included an integrated tri-service firepower and manoeuvre demonstration. LCA Tejas, ALH Mk-IV, LCH Prachand, mobile anti-drone system, BMP-II and its variants, NAMICA (Nag Missile Carrier), T90 tanks, Dhanush, K9 Vajra, and Pinaka rockets were among the platforms showcased at Pokhran, about 100 km from Jaisalmer city.

Cisco has signed a memorandum of understanding with Karnataka Innovation Technology Society (KITS) to train 40,000 individuals in cybersecurity skills and cyber awareness. Women will represent half of the trained workforce to help meet the growing need for cyber talent as organisations look to bolster defences against an evolving and complex threat landscape.

Sources indicate that 27 properties owned by Krishn Buildtech Pvt Ltd, headquartered in Haryana, are currently under investigation in Delhi, Gurugram, and Sonipat under the Prevention of Money Laundering Act (PMLA). The company's founders are Amit Katyal and Rajesh Katyal.The investigation concerns the suspected transfer of ₹400 crore from homebuyers' funds by the company's promoters, who allegedly sent the funds abroad for storage.