India Financial News

commercial credit portfolio of Indian micro small and medium enterprises grew 11% on-year in Jul-Sep, as accelerating economic activity boosted demand for commercial loans, TransUnion Cibil and the Small Industries Development Bank of India said. “Credit exposure stood at Rs 28.2 lakh crores at end of the quarter ending September 2023...supply volumes grew by 20% year-over-year (YoY) in the July-September 2023 quarter, indicating improved lender confidence,” TransUnion Cibil and SIDBI’s analysts said in a report on 80 lakh MSMEs. Commercial loans grew 29% YoY in Jul-Sep, while the total value of new credit for micro small and MSMEs was Rs. 2.43 lakh crores with small enterprises having the largest share of 42%.

Reliance Industries Limited (RIL), Viacom 18 Media, and The Walt Disney Company have agreed to merge Viacom18 and Star India to create a joint venture that will be valued at Rs 70,352 crore ($8.5 billion). Viacom18's media business will be merged into Star India through a court-approved arrangement as part of the transaction. RIL has committed to investing Rs 11,500 crore ($1.4 billion) into the JV for its growth strategy. RIL, Viacom18, and Disney will own and control 16.34%, 46.82%, and 36.84% of the JV, respectively. Disney may contribute additional media assets to the JV, pending regulatory and third-party approvals.

Spotify has not seen any drastic change in revenue numbers or its user base in the country and is focused on striking a balance between its free and premium services, a senior executive of the music streaming platform said. “We always want to offer a great free service and will obviously keep calibrating because ultimately, we are also running a business here. So, we are going to calibrate between free and paid in such a way that we want to keep our free business growing and also keep our premium business growing,” Amarjit Singh Batra, managing director of Spotify India, said during a fireside chat at the India Digital Summit 2024 in Mumbai.

BJP-led National Democratic Alliance (NDA) is likely to get a majority in the Rajya Sabha in April this year once the remaining six vacancies under the nominated category are filled and those newly elected take oath. According to data available with the Rajya Sabha Secretariat, the BJP, which currently has 94 members, gained two seats in the Upper House in the just concluded elections, pushing its own strength to 96. The strength of NDA, which at present has 113 members, will cross the half-way mark of 123 in the 245-member House in April this year once all nominated members take oath. At present, there are only six MPs who have been nominated by the President of India as members in the Rajya Sabha, with some having joined the BJP later. There are a total of 12 nominated members in the House.

mining and mineral sector. Besides these, Annual Capacity Building Plan for Geological Survey of India (GSI) will be released during the event. First round of critical mineral bids was called in November 2023. This was made possible after an amendment to the Mines and Minerals (Development and Regulation) Act earlier this fiscal. The centre also notified 24 minerals as being Critical and Strategic for the country, demand for which are usually met by imports. Critical minerals cater to the needs of sectors like renewable energy, defence, agriculture, pharmaceutical, high-tech electronics, telecommunications, transport, and creation of gigafactories among others. The amendment allowed the centre to grant mineral concession and prioritise auction of these resources. The revenue generated from these auctions shall accrue to the State Governments. Subsequently, royalty rates of critical minerals were rationalized to encourage more participation in auctions.

Reliance Industries Ltd on Wednesday informed exchanges that the company has inked a binding agreement with Walt Disney Co to merge their media operations in India. Reliance Industries Limited (“RIL”), Viacom 18 Media Private Limited (“Viacom18”) and The Walt Disney Company (NYSE:DIS) (“Disney”) today announced the signing of binding definitive agreements to form a joint venture (“JV”) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (“SIPL”) through a court-approved scheme of arrangement. In addition, RIL has agreed to invest at closing Rs 11,500 crore (~US$ 1.4 billion) into the JV for its growth strategy.

Reliance Industries has signed a binding agreement with Disney to form a joint venture that will combine the businesses of Viacom 18 and Star India. The deal, which has been in the works for months, will create a media behemoth across TV broadcasting, streaming, movies and sports. As part of the transaction, RIL has agreed to invest around Rs 11,500 crore ($ 1.4 billion) into the JV for its growth strategy.

BITS Design School (BITSDES) will move within a 63-acre university campus in the Mumbai Metropolitan region for which Rs.1500 Crore investment is being made. Mumbai, 15 February 2024: BITS Pilani, one of the first private universities to be awarded the status of ‘Institution of Eminence’ by the Government of India, today announced a foray into Design Education with the launch of BITS Design School (BITSDES). The future-focused design school is modelled on top global design institutes and is being set up in Mumbai.

₹658. SMIFS is optimistic about Yatharth for several reasons - 1) It offers quality healthcare at affordable prices; 2) It's expanding into under-penetrated markets like Noida; 3) The focus on enhancing therapy offerings, including the addition of a radiation and oncology block, is expected to improve the Average Revenue per Occupied Bed (ARPOB); 4) Its lean cost structure, with limited dependence on star doctors, is poised to boost EBITDA margins. Yatharth adopts a single large hospital model, constructing 400-500-bed hospitals, which brings operating leverage benefits.

₹11 trillion in 2024-25—almost 4.5 times the level in 2014-15. It represents 3.4% of projected GDP, up from 2% nine years ago. Capital expenditure is seen as the building of assets that yield social and economic benefits over time—for example, road, bridges and ports.

Another dig at Ishan Kishan’s focus on IPL? Sunil Gavaskar says some don’t have the ability to play Test cricket The new annual contracts for the senior men's team will begin on 1 October 2023 and run until 30 September 2024. Notably, veteran Indian players like Rohit Sharma, Virat Kohli, Jasprit Bumrah and Ravindra Jadeja have found a mention in the Grade A+ central cricketers. BCCI also confirmed that Ishan Kishan and Shreyas Iyer were not considered for the annual contracts during the round of recommendations while also issuing a note of caution which is likely to be aimed at the two players.

BENGALURU : Accenture Plc will acquire Mindcurv, German IT services and data analytics firm, to expand its commercial services globally, the US company said in a release. Accenture Song, the parent company’s digital agency, agreed to acquire the Essen-headquartered IT services company for an undisclosed amount. Mindcurv provides digital services to clients in the manufacturing, retail, consumer goods, life sciences and chemicals sectors, most of whom are based in Europe.

prime minister called MGR an “incomparable leader" besides referring to Jayalalithaa’s governance as the hallmark of dedicated service to the people of the state Some analysts said the comments were PM Modi's appeal to the All India Anna Dravida Munnetra Kazhagam (AIADMK) vote bank while others said that it was his indirect reach-out to AIADMK, the opposition party in Tamil Nadu that was a BJP ally until September last year. On Wednesday, PM Modi called the Dravida Munnetra Kazhagam (DMK) leaders ‘blind’, over a state minister’s ad for a new Indian Space Research Organisation (ISRO) spaceport featuring an image of a rocket with the Chinese flag symbol.

₹4900 crore in Yavatmal, Maharashtra. He also released benefits under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) and other schemes during the programme. The 16th instalment amount of over ₹21,000 crore under the PM-KISAN was released through direct benefits transfer to beneficiaries.

₹7 crore each annually. The Annual Player Contracts for Team India will be valid from 1 October 2023 to 30 September 2024. According to the annual contract, the BCCI included R Ashwin, Mohd.

bitcoin hit $59,000 on Wednesday in the global crypto markets. And if the current rally continues, this would be maiden cryptocurrency's substantial monthly rally since Dec 2020. In just one day, bitcoin rose 4.4 per cent reaching 59,259, its highest level since Dec 2021.

Also Read: As India expands its nuclear power capacity, these four companies are at forefront Among the group stocks, Adani Green Energy, the country's largest renewable energy (RE) company and the second-largest solar PV developer in the world, stood out as an outlier as it rallied significantly over the last three-month period. During this period, the shares have grown from ₹1,052 apiece to the current trading price of ₹1,918, resulting in a massive gain of 82%, and they soared 295% in the last one-year period, while over the last five-year period, the shares delivered a staggering return of 5720%. Also Read: Adani Power to Adani Ports: Why Adani group shares are rising today? On February 14, the company announced that 551 MW of solar capacity in Khavda, Gujarat, had become operational and started supplying power to the national grid.

ALSO READ: ‘Kashmir….spun my head round’: Sachin Tendulkar shares 'top moments' from his trip to Valley In a post on social media platform X, PM Modi said: “This is wonderful to see! @sachin_rt’s lovely Jammu and Kashmir visit has two important takeaways for our youth: One - to discover different parts of #IncredibleIndia. Two- the importance of ‘Make in India.’ Together, let’s build a Viksit and Aatmanirbhar Bharat!" Modi’s comments came after Tendulkar in a post on X underlined that the PM had inspired him to uncover India’s various capitals. “Jammu and Kashmir will remain a beautiful experience etched in my memory.

PTI. Mittal receives a KBE under the Most Excellent Order of the British Empire – one of the highest honours conferred by a British monarch., according to the list of honorary British awards unveiled by the UK Cabinet Office, The 66-year-old entrepreneur said in a statement that he was ‘deeply humbled’ by the gracious recognition from King Charles. “The UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration.

JK Cement share price that has risen 56 % in last one year and is trading near 52-week highs seen recently. Strong cement demand in the country has been driving investor confidence on cement stocks. The expansions being carried out by JK Cement have further helped improve sentiments.

The Economic Times. Except the US, most WTO members have backed India's proposal. A cost reduction can not only increase the inflow of remittance to developing countries like India, but also create vantage for the country's Unified Payments Interface (UPI) for global penetration, economists told Livemint, while speaking on its impact on the Indian economy.