India Financial News

The Reserve Bank of India (RBI) has issued guidelines to enhance customer options and flexibility in credit card issuance by card networks.

India’s defence modernization journey reached a pivotal milestone with the commissioning of the MH-60R multi-role helicopters at INS Garuda, Kochi. The commissioning ceremony took place in the presence of Defence Minister Rajnath Singh and Admiral R Hari Kumar, Chief of the Naval Staff, and this signifies a significant step forward in enhancing India’s maritime prowess.

To boost its operational capabilities within the strategically important Lakshadweep islands, the Indian Navy on Wednesday commissioned its new base “INS Jatayu” at Minicoy Island.

Marks & Spencer, the British fashion retailer, has unveiled its latest campaign, Love your body with M&S BraFit. As per the company, the campaign is dedicated to celebrate the transformative power of a well-fitting bra.

Women business owners from smaller cities and towns across India are frontrunners in adopting digital solutions, according to data from 200,0002 SME members on business financial platform Tide. This year’s International Women’s Day’s theme is ‘Inspire Inclusion’, making women business owners ‘Atmanirbhar’.

A charge-sheet has been filed under the anti-money laundering law against 299 entities, including 10 persons of Chinese origin, in an investigation linked to alleged duping of investors in the name of mining cryptocurrencies such as Bitcoins, the Enforcement Directorate said on Wednesday.

Following the publication of its long-awaited 2022 annual report in January and its updated key information document today (6 March), the board said it would submit the application to the regulator «expeditiously». Uncertainty over the valuation of the RUMS project — a solar park construction in India — in which 8% of AEIT's portfolio was invested at the time, prevented the audit of the 2022 accounts, which led to the trust's temporary suspension in April 2023. Former ThomasLloyd Energy Impact trust posts overdue results as strategic review continues A public battle between then ma...

NLC India through an offer for sale (OFS) this week, to raise up to ₹2,200 crore ($266 million) at current prices, Reuters reported Wednesday citing sources. The report said the government will offer to sell 5% of its stake in the state-run firm with an option to sell an additional 2% stake if there is more demand. The government holds a 79.2% stake in NLC India as of December 2023, whose shares have nearly tripled over the last year to ₹226.70 as of Wednesday.

NEW DELHI : The legal vetting for a proposed free trade agreement (FTA) between India and Oman is nearly complete, with the deal likely to be signed in either the coming days or after the general election, two people aware of the matter said. "The government hopes to sign the pact before the announcement of dates for general elections, and in case it cannot be signed before the announcement, the government may nevertheless seek permission from the election commission to announce it as the FTA is in the interest of economy," said the first person mentioned above, who spoke under the condition of anonymity.

₹98,374, or $1,183, in FY23. Despite its FY25 growth forecast being slightly below the RBI's 7% projection, Crisil maintained that India will remain the world's fastest-growing major economy.

demat account to another is common, and the answer is affirmative. While selling securities typically involves transferring shares to another party, having multiple demat accounts allows investors to transfer shares between them. The practice of transferring shares from one demat account to another has become widespread.

MUMBAI : India’s telecom regulator will shortly take its next steps towards updating the national broadcast policy, with a focus on making India a global hub for content creation. The Telecom Regulatory Authority of India is set to issue a detailed consultation paper seeking feedback from various stakeholders on the draft policy, chairman Anil Kumar Lahoti said on Wednesday. Trai has completed a pre-consultation process to identify the focus areas for the policy, Lahoti told a gathering at Ficci Frames, an annual media and entertainment industry convention.

Chef Ranveer Brar's latest creation has set the internet abuzz. Dubbed as 'opulent' by some, the 'KashKan Daal' served at his Dubai-based restaurant has caught the attention of food enthusiasts worldwide. What sets this dish apart is not just its rich blend of spices but the infusion of 24-carat gold dust, elevating the dining experience to unprecedented heights.

training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy. Muizzu also met Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, and President of the Export-Import Bank of China, Ren Shengjun separately. Earlier on Monday, the Maldives Ministry of Defence announced that a military assistance agreement has been signed by Defence Minister Mohamed Ghassan Maumoon and Major General Zhang. However, it did not reveal any additional details. This is the first time Maldives has signed a deal with China for military cooperation of this level. Previously, China had been exclusively known for its assistance towards urban and economic development of the Maldives, news portal Sun.mv said.

Election Commission of India (ECI) on Wednesday issued an advisory to Congress MP Rahul Gandhi to be more careful and cautious in the future, in his remarks on leaders including the Prime Minister. The election governing body said that the advisory comes after considering all facts in the matter related to certain remarks against Prime Minister, including Delhi High Court order and Gandhi's reply. Delhi High Court on December 21 said that Congress MP Rahul Gandhi’s speech given on November 22 against Prime Minister Narendra Modi, calling him a 'pickpocket' was 'not in good taste'. The court directed the Election Commission to decide the matter within 8 weeks.

Google and Indian internet companies have agreed to a four-month extension in the timeline for payment of service fees to the Android maker. The development marks a pause in the acrimonious face-off between Indian internet firms and Google over the US firm’s billing policies that finally prompted the Indian IT ministry to step in to play peacemaker.

Social media startup Hunch has raised $23 million in a funding round led by US-based Alpha Wave and South Korea-based Hashed Emergent. The firm did not disclose the valuation at which the funding, which came as a primary infusion, was done. Hunch had earlier raised $3 million in seed funding in December 2022, when it first launched its app, cofounder and chief executive Ish Goel told ET on Wednesday.

Competition Commission can now impose penalties on companies based on their global turnover for violations, with the government notifying the amended competition norms. Till now, the Competition Commission of India (CCI) has been deciding penalties on the basis of a company's turnover from a particular business segment where violations have been found. The corporate affairs ministry has notified the provisions under the amended the Competition Act with effect from March 6. Vaibhav Choukse, Partner and Head of Competition Lawa at JSA Advocates and Solicitors, said the amendment empowers the CCI to impose a penalty on the global turnover of a company derived from all the products and services.

The Reserve Bank of India (RBI) has recently released a set of frequently asked questions to help depositors in claiming unclaimed deposits through the UDGAM portal (Unclaimed Deposits Gateway To Access Information). Udgam is a portal developed by RBI. These are some of the frequently answered questions:

India has 87% fintech adoption rate – the highest in the world, 1.26 billion digital IDs, 658 million internet users, 30 million merchants who accept QR codes and the digital lending and insurance sectors are expected to grow to $350 billion and $222 billion respectively by 2025. (Barclays Rise Report) While women form 50% of the country’s population, financial and digital literacy of women is lowest, as per World Bank’s Global Findex Data.

China has announced a 7.2% increase in its defence budget, crossing $230 billion, exceeding three times India's military expenditure. This rise comes despite a slowdown in China's economic growth and its refusal to de-escalate tensions along the Line of Actual Control (LAC) with India. Strategic Intent and Military Modernisation China's two-million-strong armed forces are rapidly modernizing to deter the US from interference, especially in Taiwan. Recent moves include strengthening conventional military and nuclear forces and strategic moves in the Indian Ocean Region (IOR), including a military assistance pact with the Maldives.