India Financial News

Finance Ministry has launched a revamped e-auction portal named 'BAANKNET' to further streamline the listing and auctioning of banks' assets, Parliament was informed on Monday. The revamped e-auction portal was launched on January 3, 2025, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. The platform 'e-BKray' was launched in February 2019, he said. The BAANKNET portal is specifically designed to enhance transparency and speed up the process of disposing of non-performing asset (NPA) cases, he added.

Financial Sector Assessment Program (FSAP), a joint programme of the International Monetary Fund (IMF) and the World Bank (WB), undertakes a comprehensive and in-depth analysis of a country's financial sector. IMF has released the latest India-FSSA report, based on the assessment carried out during 2024, while WB's Financial Sector Assessment (FSA) report is due for publication. «India welcomes assessment of the Indian financial system undertaken by the joint IMF-World Bank team conforming to the highest international standards,» the Reserve Bank said in a release on Monday. The IMF report said that since the last FSAP in 2017, India's financial system has become more resilient and diverse, driven by rapid economic growth. «The system recovered from the distress episodes of the 2010s and withstood the pandemic well. NBFIs and market financing have grown, making the financial system more diverse and interconnected. State-owned financial institutions' share remains significant,» it said.

Reacher Season 3 is nearing its conclusion, with the final episode set to release soon. The show follows the same episode structure as previous seasons. Viewers can watch the last episode on Prime Video at different times based on their region.

The Pitt Episode 13 continues the intense storyline from Episode 12. The new episode, titled 7:00 PM, will be released on Max on March 27, 2025. The episode will bring more challenges for the hospital staff as they handle the ongoing crisis.

Quick commerce platform Swiggy Instamart on Monday said it will now deliver smartphones in 10 major cities. According to the platform, these cities include Bangalore, Delhi, Mumbai, Chennai, Faridabad, Noida, Gurgaon, Kolkata, Hyderabad, and Pune, with plans to expand to more cities. The smartphone brands available include the iPhone 16e, Samsung M35, OnePlus Nord CE, and Redmi 14C. Quick commerce platforms have been continuously expanding their offerings by partnering with brands and introducing products that were previously sold on ecommerce platforms. Rivals Zomato-owned Blinkit and Zepto are also offering electronics and phones, in addition to items such as fashion, accessories, beauty, and personal care products.

Ajay Seth, a senior bureaucrat, on Monday was designated as the new Finance Secretary, according to an official order.

Central Board of Secondary Education (CBSE) is looking into the proposal to allow basic non-programmable calculators in class 12 accountancy exams to easy cognitive load associated with lengthy calculations, according to board officials. A panel will be formed to come up with guidelines on their use to maintain uniformity, they added. Currently, CBSE allows students with special needs in both classes 10 and 12 to use calculators. The Council for the Indian School Certificate Examinations (CISEC) allowed class 12 students to use calculators in 2021.

India for a long time, often shares her observations on cultural differences between the two countries. In a recent video, she compared the healthcare systems of India and the USA, highlighting key differences in wait times, costs, and accessibility—points that many viewers agreed with. She began by discussing the waiting period for medical services. In the USA, an appointment with a general physician typically takes 2 to 4 weeks, whereas in India, walk-in consultations are available the same day. Specialist consultations in the USA require a wait of 1 to 3 months, while in India, they can usually be scheduled within a week. Elective surgeries, which take 3 to 6 months in the USA, are completed within 1 to 4 weeks in India. She also addressed the stark contrast in costs. In India, a doctor’s visit costs between $7 and $17 (approximately ₹600 to ₹1,500), whereas in the USA, it ranges from $150 to $600 (₹13,000 to ₹51,000). The cost of a one-night hospital stay is about $3,000 (₹2.56 lakh) in the USA, while in India, it is under $80 (₹7,000). Medical insurance in the USA costs between ₹68,000 and ₹1.28 lakh per month, compared to India, where it ranges from ₹2,000 to ₹5,000.

Eli Lilly has launched Mounjaro (tirzepatide) in India, a drug hailed for its ability to manage diabetes and trigger dramatic weight loss. Originally designed for type 2 diabetes, its secondary benefit—helping users shed up to 20% of their body weight—has turned it into a global phenomenon. But while the buzz is strong, the drug comes with a steep price tag: ₹3,500 for a 2.5 mg vial and ₹4,375 for 5 mg, making long-term use an expensive commitment.

The Asian nation’s state-owned processors are on track to secure more than three dozen cargoes that will load next month, according to people familiar with the matter. Combined with deliveries for private refiners Reliance Industries Ltd. and Nayara Energy Ltd., there may be more than 60 shipments of discounted Russian crude in April, or almost 52 million barrels, the people said, declining to be identified as the transactions aren’t public. Flows between the nations had slipped in recent months as a transition period for tighter US sanctions on shipments from Russia came to an end, forcing the state-owned refiners to issue a slew of spot tenders that saw them buy more expensive oil from alternative producers. Traders have now lined up enough “clean” Russian cargoes — meaning shipments untouched by any US-sanctioned entity — for April to help the companies meet most of their spot demand and ease concerns over future supplies, the people said.

Araku Coffee, the world's first terroir-mapped coffee was launched in the canteens of both houses of the Parliament on Monday afternoon. The coffee was launched in the Lok Sabha and the Rajya Sabha in the presence of Union Minister Ram Mohan Naidu, Kiren Rijiju, Piyush Goyal and TDP MPs. After the launch of the coffee, Union Minister Piyush Goyal said, «It is a matter of pride for me that the government of Andhra Pradesh has taken up the Araku Valley coffee, a GI product, as an important product for every Indian to taste.» «With the collective efforts of Prime Minister Narendra Modi and Andhra Pradesh CM Chandrababu Naidu, this double-engine government will take Araku to new heights; we will make it a premium product,» he added. Union Minister Ram Mohan Naidu Kinjarapu also spoke about the coffee and said, «We are inaugurating the Araku Valley coffee which is a very prestigious coffee from the hills of Araku in Andhra Pradesh. For years, the tribal farmers from Andhra, especially Araku, have been growing this distinctive coffee. Now, it is a world-renowned product.»

Chennai Super Kings despite handing over captaincy to Ruturaj Gaikwad, the talismanic Mahendra Singh Dhoni said he is instead focussed on reinventing himself and his strokes to «stay relevant» in the IPL. Speaking to 'JioStar' after CSK's four-wicket win over Mumbai Indians in their lung-opener on Sunday night here, Dhoni spoke about the team dynamics under Gaikwad, his own form and also the regional commentary being done in the ongoing league. "...batsmen are now willing to take risks. They believe that with proper cricketing shots, they can play big strokes, and at the same time, they are improvising with their shot selection...whether it's a reverse scoop against a fast bowler, a sweep, or a reverse sweep against a pacer. «I am no different, I have to adapt as well. This is what is required of me for where I am batting. You have to try and stay relevant,» Dhoni said. «The way we played T20 in 2008 and the way we played IPL last year, it's very different. Earlier, there was a lot of turn in the wickets. Wickets were two-paced. Now, India's wickets have become much better; they are more batter-friendly,» he explained. The 43-year-old, under whom CSK won five IPL titles, handed over the leadership to Gaikwad at the beginning of the 2024 season. He said although he discusses things with Gaikwad, he refrains from persuading him to follow his advice.

Sunil Gupta, Co-Founder, Managing Director & CEO, Yotta Data Services

currency declaration forms furnished by individuals landing in India. The lab also examines complex banking and financial data of an entity to study possible money laundering and terrorist financing instances. The 'strategic analysis lab' (SAL) was created by the federal financial intelligence agency in 2021 to prepare typologies for the «ever evolving» financial landscape, research and analyse data for improvement of intelligence generation and «effectively» counter economic crimes. The 2023-24 report of the FIU said the SAL has its own «specialised' human resources having access to the latest analytical tools and technologies.

Indian stocks have erased this year’s losses as early signs of a pickup in government spending and monetary easing buoys sentiment. The benchmark NSE Nifty 50 Index climbed as much as 1.3% on Monday, and is set for a six-day winning streak, the longest since September last year.

Dental care provider Clove Dental announced the opening of its 600th clinic in Gurugram on its 14th anniversary. Established in 2011, Clove Dental has grown into a network spanning over 26 cities, having served more than 3 million satisfied patients. Similar to all our existing clinics, the new Gurugram clinic is equipped with state-of-the-art technology and adheres to strict safety and hygiene protocols. Louis Shakinovsky, Group Chairman of Global Dental Services, said in a statement, «Credibility is doing what you say. Our Clove team has unquestionably done this convincingly. Since its inception in 2011, Clove Dental has been on a mission to transform dental care in India. A few years ago, I had envisioned an ambitious goal to reach 600 clinics. It makes me feel joyous to see this become a reality.” Amarinder Singh, Founder & CEO of Clove Dental, said, „At Clove Dental, we believe that trust is the foundation of effective healthcare. Our commitment to transparency ensures that patients are fully informed about their treatment options and computer-controlled pricing. We provide clear communication, and detailed treatment plans for all procedures, ensuring complete compliance to the measures laid by the Dental Council of India. At Clove Dental, we implement world-class quality control processes, leveraging AI and computer vision for unmatched sterilization adherence—pioneering a first-of-its-kind standard in global dental care.“

Adityanath recalled that before 2017, Uttar Pradesh was categorised among India's lagging regions, or the 'BIMARU' states. However, in the last eight years, it has emerged as the driving force of the nation's economy, leading across multiple sectors, he emphasised. The chief minister said that before 2017, agriculture was completely neglected in Uttar Pradesh. Farmers had been struggling, and the sector was on a decline. Reforms under the «double-engine government» changed the situation significantly, he said. The state's agricultural growth rate, which was around 5 per cent in 2016-17, has now risen to over 13.5 per cent, he said.

Subscribe to enjoy similar stories. The World Development Report 2024 by the World Bank highlights a critical issue: emerging economies like India risk being caught in the ‘middle-income trap’, where stagnant productivity and an inability to harness innovation hinder their transition to high-income status.

Subscribe to enjoy similar stories. Sovereign Gold Bonds (SGBs) were introduced nine years ago. These were launched to give investors an opportunity to invest in the much-loved yellow metal in dematerialized form.

Subscribe to enjoy similar stories. The battle for India’s most rewarding credit card is heating up. As premium customers chase higher returns on travel and shopping, banks are stepping up with exclusive reward platforms.

Subscribe to enjoy similar stories. Tejas Networks recently bagged PLI (production-linked incentives) sops worth ₹123.45 crore from the department of telecommunications under the government’s overarching ‘Make in India’ push. For the Tata Group-backed optical and data networking product manufacturer, which had reported a bottom line of ₹166 crore in the December quarter, the PLI for FY24 has enthused investors.