India Financial News

UPI), Dilip Asbe, managing director and CEO of National Payments Corporation of India (NPCI), said on Friday. Speaking to journalists at the Mumbai Tech Week, Asbe noted that over 30 banks currently issue RuPay credit cards in the country. «About 16% of total credit card spends are happening on Rupay now, and about 50% of that is happening on UPI,» he said.

gold prices to soften, have started purchasing gold jewellery in the last two days as prices have fallen from a high of Rs 86,647 per 10 gm on last Tuesday to Rs 84,056 per 10 gm on Friday. Prices have dropped by Rs 2,509 per 10 gm over the last two days. The gold market was closed on Wednesday on account of Shivratri. Rajesh Rokde. chairman of All India Gem & Jewellery Domestic Council (GJC) said «The footfalls at the stores have increased. Those, who had been waiting to buy gold, have started their purchase. Consumers do not want to miss the chance of lower gold prices.» He added that the correction in gold prices seems to be a temporary one. «It may go up any moment if the trade war intensifies and the geopolitical risk heightens. This a good opportunity to buy gold, Rokde said.

European Commission’s visa “cascade” regime. Effective April 18, 2024, the policy allows frequent travelers from India to obtain multi-entry visas valid for up to two years initially, followed by a five-year validity period if passport conditions permit. The visa policy has improved mobility between India and the Schengen region. Indian travelers meeting the eligibility criteria will have travel privileges similar to those of visa-exempt nationals. The move aims to facilitate tourism, business, and family visits while strengthening EU-India ties. Prime Minister Narendra Modi welcomed the new visa system in the ongoing negotiations for the India-EU Free Trade Agreement (FTA), saying, «We welcome the new visa cascade regime of the EU. This will provide better mobility to the abilities of India's talented youth.»

Ikea as it continues to expand its footprint in the country. Despite a global downturn in the home furnishings sector, Ikea saw robust growth in India, with revenues surpassing 45 billion euros in FY24, demonstrating resilience amid subdued consumer demand. «Affordability is a key focus for us. In the last two years, Ikea India has lowered prices up to 16-39% in line with its global commitment and investment to pass on the benefit to the customers. This was a global move by Ikea to stay true to its affordability promise,'' Susanne Pulverer, CEO & chief sustainability officer, Ikea India told TOI in an interview. In FY24, Ikea substantially lowered prices across 63 markets to push sales in a shrinking home furnishing market. (Ikea financial year runs from Sept 1 to Aug 31). Of the 7,000 products sold at Ikea, nearly 1,000 are priced under Rs 200, ensuring that even those with tighter budgets can find something to purchase, she added. „We have nearly 300 million visitations (online and offline). And 30% business comes from online and it is also our fastest growing channel,'' she added

Bombay high court has refused to direct the transfer of Reserve Bank of India bonds to the mother and wife of a man who has renounced the world and become a Jain sadhu. «This court, in its writ jurisdiction under Article 226, will not enter the arena of disputed claims between the parties,» said Justices Revati Mohite Dere and Neela Gokhale, asking them to seek civil remedy before an appropriate forum. In their petition, the 77-year-old mother and 48-year-old wife of the sadhu said M was the karta of a Hindu Undivided Family. «Renouncing worldly affairs amounts to civil death of M and as such all his properties would devolve upon his other legal heirs, namely the petitioners.» M's son and daughter have also taken sanyas. He holds bonds worth about Rs 56 lakh and the date of maturity is Sept 18, 2026. As per RBI guidelines, the bonds are not transferable except in the case of natural death.

NSE Nifty 50 recorded its fifth straight monthly loss — its longest such streak since 1996 — making India the worst performing global market, with investors and derivative markets signalling the pain is likely to linger. Weak earnings, persistent foreign outflows and uncertainty regarding U.S. tariffs have dragged the Nifty about 15% lower from its September peak, eroding nearly 85 trillion rupees (nearly $1 trillion) in investor wealth.

MUMBAI: The Securities and Exchange Board of India (Sebi) is set to shake up the mutual fund space with a bold new category—specialized investment funds (SIFs). 

Subscribe to enjoy similar stories. MUMBAI : India has emerged as the biggest opportunity for Coursera Inc.’s enterprise business, making it one of the two fastest-growing markets for the global upskilling giant, alongside West Asia, for the vertical, according to a top company executive. The company’s enterprise segment, which caters to businesses, universities, and governments, is experiencing significant traction in India, Karine Allouche, vice-president and general manager of enterprise business at Coursera, told Mint.

Subscribe to enjoy similar stories. Crompton Greaves Consumer Electricals Ltd is poised to benefit from more premium products and new launches in the near future. The company’s management at its recent analysts meeting discussed new launches and innovation as it preps for the summer season ahead, particularly in its fans vertical.

Subscribe to enjoy similar stories. The Securities and Exchange Board of India (Sebi) has proposed revising the ₹500 crore exposure limit for index futures and options (F&O), along with other measures to strengthen risk assessment in the derivatives market.

Punjab National Bank (PNB) has urged select account holders to update their «Know Your Customer» (KYC) information, in accordance with RBI norms. It asked them to complete the KYC before the specified date to ensure seamless account operations.

Bharti Airtel’s India business is set to see its free cash flows (FCF) grow to around Rs 36,100 crore by FY26 while Reliance Jio’s is slated to rise to Rs 36,900 crore on the back of expected further tariff hikes, network capex normalisation and strong average revenue per user (ARPU) growth, said analysts.

sleep health—the highest among surveyed countries—nearly half (47%) of them have taken sick leave at least once in their careers due to sleep deprivation, according to healthtech company ResMed’s fifth annual Global Sleep Survey, findings of which were made public on Friday.

Uttarakhand High Court has asked the state government whether it can invite suggestions afresh on the Uniform Civil Code (UCC) and consider making amendments wherever necessary. A division bench of the high court comprising senior Justices Manoj Tiwari and Ashish Naithani posed the query on Thursday to Solicitor General Tushar Mehta while hearing two new petitions challenging the UCC's provisions regarding live-in relationships.

Karnataka Food Safety Department found that some idlis served in Bengaluru may pose serious health risks. Of the 500 samples collected from 251 hotels and roadside vendors, 51 were declared unsafe. The tests revealed the presence of carcinogenic substances, raising fears about long-term health consequences for consumers.

broker Angel One on Friday said some of its Amazon Web Services (AWS) resources were compromised and that it has hired an external forensic partner to investigate the impact. The company's shares, already pressured in a weak market, extended losses to as much as 4.7% after the news.

«As far as supports are concerned for Nifty, I believe there is a support around 22,200 followed by 22,000 which is the support zone for Nifty,» says Sneha Seth, Angel One. It is just a deep sea of red across the screen and both the benchmark indices are not holding up well. Which are the next support levels as per you? Sneha Seth: If you look at the market, yes, we have seen decent correction. If you see the rollovers for last series, the rollovers were quite decent. In fact, I believe decent amount of shorts have been rolled over to the market. FIIs long-short ratio is also around 16, which clearly indicates that it is in the oversold territory and until we do not see any buying interest from FIIs in the future segment or in equity segment, the market may continue to be in pressure only.

Xi Jinping has admitted the country's economy still faces «numerous difficulties» in an article set to be published this week ahead of a major political meeting in Beijing, state media said Friday.