India Financial News

ICICI Bank and Times Internet on Wednesday launched a super-premium credit card targeted at ultra high-net-worth individuals. The card, the inaugural edition of which has been crafted from a metal alloy derived from the historic printing plates of The Times of India, is powered by Visa. Cardholders will receive exclusive benefits, including doorstep visa services, exclusive invite-only events by The Times of India Group, access to elite clubs, unlimited lounge access at more than 1,300 global airports, attractive reward points, and helicopter rides, among others. The 'Times Black ICICI Bank Credit Card' provides curated privileges designed to cater to the refined tastes of these individuals with significant spending power. Annual fee for the card is ₹20,000, but the fees will be waived on yearly expenditures of ₹25 lakh through these cards.

Sri Lankan President Anura Kumara Dissanayake may visit China following his trip to India, and preparations are underway to welcome him, according to a senior Chinese official. Dissanayake travelled to India early this week on a three-day visit — his first foreign trip after assuming charge as the president. Vice-Chairwoman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) Qin Boyong, who met Dissanayake on Wednesday, said preparations are underway to welcome him during his future visit to China.

industrial real estate manager Welspun One aims to raise more than Rs 4,000 crore as a new fund to support the platform’s growth strategy even as global investors are exploring financial and strategic general partnerships with the fund. This will be among the first instances of a General Partner (GP) level alliance in the Indian private equity industry. The platform, backed by Welspun Group, is looking to double its portfolio to more than 32 million sq ft by 2028, and has already identified a robust pipeline of over 8 million sq ft across multiple assets in the country.

Requests for unusual items: During frisking and scanning in Parliament complex, security personnel come across various unusual items that are not permitted inside the premises. While cigarettes, lighters and matchboxes are common, ladies are at times found carrying nail-cutters, nail-polish, and some cosmetics which cannot be taken inside the high security area.

Chandrababu Naidu government continues to debate the fate of the controversial solar power deal, the Solar Energy Corporation of India (SECI) has defended the «transfer» of the 2,333 mw power project from Azure to Adani Group before the apex power regulator, citing Andhra Pradesh's power requirement and unchanged terms and conditions of the contract, ET has learnt. In a December 7, 2024 submission to the Central Electricity Regulatory Commission (CERC), SECI stated that «Andhra Pradesh had sought for such supply and SECI could finalise the generation and supply of such quantum by Adani Group on the same terms and conditions». It underlined that the transfer to Adani Group did not affect «the essential terms» on which the regulatory approval was given for the overall Andhra power project by the CERC on April 2, 2022.

constitutional amendments required to synchronise general and state elections, an idea referred to as 'One Nation, One Election' (ONOE). These proposed amendments — three amendments and inclusion of a new article — emerged from the recommendations of a high committee chaired by former president Ram Nath Kovind, who put together a 18,000-pg report nine months ago explaining how synchronising the electoral calendar could be done. The proposed Act lets go of some important recommendations of the committee, such as including local elections. It makes provisions for the mechanisms required to induce and maintain synchronicity. Two key aspects are:

accidentSpeaking about the incident, Maharashtra Deputy CM Eknath Shinde said after a ferry boat capsized off Mumbai coast."I've held talks with both the collectors, the police and Navy personnel present there. More than 100 people (were onboard), and 83 of them have been rescued. The rescue operation is being carried out by the Indian Navy, Indian Coast Guard, the Maritime Board and the coastal police.

Patil, addressing the assembly on Tuesday, shared details about the ongoing efforts. “The Infrastructure Development Corporation Karnataka Ltd (IDeCK) is surveying various proposed sites for the best location. Once it finishes the survey, the report will be submitted to the Airport Authority of India (AAI),” he said. “AAI has the authority to finalise the location for the second airport in Bengaluru,” Patil added. The minister further explained that various factors would play a role in the decision-making process. These include connectivity, proximity to key areas, and the surrounding environment. «There will be some clarity on the location within a week,» Patil said.

Smasher Sports, backed by global investment firm Terra Invest and former Wimbledon tennis player Ashok Amritraj-backed Hyde Park Entertainment, has acquired the Delhi Franchise of the World Pickleball League (WPBL), the company said on Wednesday. “The investment underscores the league’s potential to transform the country’s sports entertainment landscape,” the statement said. The WPBL features six teams and is affiliated with the All India Pickleball Association (AIPA).

MMA) fighter Conor McGregor has reached a preliminary agreement to fight American social media influencer-turned-fighter Logan Paul in an exhibition boxing match, the former UFC champion said on social media on Tuesday. McGregor, who was ordered to pay damages last month after a jury in a civil trial at Ireland's High Court found he assaulted a woman in 2018, said the fight would take place in India but did not specify when it would potentially occur. «I am in preliminary agreements with the Ambani family to face Logan Paul in a boxing exhibition in India. I have agreed,» McGregor wrote on X. «I will then seek my return to the Octagon,» he posted.

Sachin Tendulkar embodies the values of trust, integrity, and excellence that perfectly align with Kissht’s mission to make digital financial services accessible, transparent, and seamless for millions of Indians. The association will include various campaigns and integrated marketing initiatives that Tendulkar will participate in. Expressing his thoughts on this association, Sachin Tendulkar said, “It’s a delight to be associated with Kissht, a brand that aspires to help Indians meet their aspirations through the power of finance. Kissht’s focus on trust and accessibility struck a chord with me, and I look forward to supporting their journey in building one of the most trusted and respected digital financial platforms for millions of Indians.”

Mizoram government on Wednesday signed agreements with the partner banks to provide banking loans under the state's flagship initiative, the handholding scheme – 'Bana Kaih', designed to promote economic growth and self-sufficiency. The 'Bana Kaih' scheme, launched in September this year, is the state government's flagship programme aimed at fostering self-reliance and inclusive economic development in the state. The primary objective of the scheme is to contribute to the realisation of 'Viksit Bharat' (developed India) and the achievement of the United Nations Sustainable Development Goals (SDGs).

INS Nirdeshak, the second ship of the Survey Vessel (large) project, was commissioned into the Indian Navy, in a ceremony presided over by Sanjay Seth, Union Minister of State for Defence, at Naval Dockyard in Andhra Pradesh's Visakhapatnam on Wednesday. Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command hosted the commissioning ceremony marking the formal induction of the second of the four ships of the Survey Vessel (Large) project under construction at Garden Reach Shipbuilders & Engineers (GRSE) Kolkata. The ship is designed to conduct hydrographic surveys, aid in navigation, and support maritime operations. Speaking on the occasion Sanjay Seth said that highly specialised ships — the Survey Vessels — play a vital role in charting the oceans. These are sophisticated niche platforms that allow for a more accurate collation of oceanic data, its precise processing and as a result, highly reliable charts that enhance maritime operations and safety.

Indian firms sought to raise $5.5 billion from the overseas market in October through the external commercial borrowing (ECB) and foreign currency convertible bond (FCCB) route, the latest RBI data shows. ECB registrations through combined automatic and approval route in October was higher sequentially from $4.8 billion in September as well as year on year basis from $765 million last October.

Cochin Shipyard Limited's wholly-owned subsidiary Udupi-Cochin Shipyard on Wednesday announced the launch of the Series of Six 3800 TDW general cargo vessels being built for Norway's Wilson ASA. The vessel was launched by Martine Aamdal Bottheim, Minister Counsellor and Deputy Head of Mission at the Royal Norwegian Embassy, along with Wilson ASA Chief Financial Officer Einar Tornes and Cochin Shipyard's Chairman and MD Madhu S Nair, Cochin Shipyard Ltd said. Constructed as environment-friendly diesel-electric vessels for the transport of general cargo in the coastal waters of Europe, these vessels have a length of 89.43 metres, 13.2 metres breadth with a draft of 4.2 metres and have been designed by Conoship International of the Netherlands, it added.

Identity verification startup Bureau has secured $30 million in a fresh equity funding round led by US venture firm Sorenson Capital and PayPal Ventures. Existing investors Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital and XYZ Ventures also participated in the round. While this is primarily a fresh infusion into the company, there is a small secondary component where some of Bureau’s early investors and employees have sold their shares. This round takes the overall funding raised by the company to around $50 million.

Donald Trump 47th President. The election was preceded by an entire year of campaigning, and a neck-and-neck competition between the Democrats and the Republicans. As Democrat nominee and US Vice-President Kamala Harris and Trump vied for the White House, India became the talk of the election. With 2.6 million eligible Indian-American voters — according to data from the Carnegie Endowment for International Peace — the Indian diaspora’s growing political significance was felt in key US swing states. These states, which were won by Trump, accounted for a significant number of Indian-American votes. Data suggested that there was a shift in the attitude of US voters of Indian origin this year. A large number of them shifted from Democratic Party to Republican Party in this election.

Nirmala Sitharaman as she prepares to present the Union Budget 2025. The trade deficit, driven by high import bills and fluctuating export growth, demands targeted interventions to ensure sustainable economic growth. India’s trade deficit in November widened to an all-time high of $37.84 billion from $27.1 billion in, which has put some pressure on the local currency. This year, the Indian Rupee often traded at around record lows against the US dollar.

premium Scotch whisky brand, The Glenwalk, is set to make a major push in Maharashtra with the launch of a new 200ml Nip bottle. Priced at Rs 500, this more accessible format is part of the brand's strategy to quadruple its sales in the region, which already accounts for 68 per cent of its overall sales, the company said in a press release on Wednesday. Fresh off a Gold Medal win at the 2024 IWS Awards, The Glenwalk has garnered recognition for its quality, having also secured top honours at the ProWine 2023 and the 2024 London Spirits Competition. With the 200ml bottle, the brand aims to expand its customer base and further solidify its position in the competitive Indian whisky market. “We are thrilled to introduce the 200 ml Nip bottle to the discerning consumers of Maharashtra,” said Mokksh Sani, Founder of Living Liquidz, Mansionz, and Co-founder of Cartel Bros. “This launch, backed by the expertise of Cartel Bros, is a testament to our commitment to innovation and our dedication to providing premium spirits experiences. We are confident that this new format will resonate with our existing customers and attract new ones.”