India Financial News

Raj Kapoor on his 100th birth anniversary, hailing him as «the eternal showman». He said on X, «Today, we mark the 100th birth anniversary of the legendary Raj Kapoor, a visionary filmmaker, actor and the eternal showman! His genius transcended generations, leaving an indelible mark on Indian and global cinema.» The prime minister had recently met members of the Kapoor family, which has produced several successful actors, to commemorate his legacy. Born on this day in 1924 in what was then undivided India and is now part of Pakistan, Kapoor was the son of stalwart actor Prithviraj Kapoor and grew to become not only a successful actor but also one of the greatest filmmakers of the Hindi film cinema.

Rice inventories in India surged to a record high at the start of December, reaching more than five times the government's target and potentially boosting overseas shipments from the world's biggest exporter of the staple food. Rice reserves, including unmilled paddy, in state granaries totalled 44.1 million metric tons on Dec. 1 against a government target of 7.6 million tons, data compiled by the Food Corporation of India showed. Wheat stocks on Dec. 1 stood at 22.3 million tons against a targeted 13.8 million tons.

State Bank of India (SBI) report. However, it highlights several challenges in the agricultural supply chain that continue to impact food consumption across the country. Notably, states like Madhya Pradesh, Uttar Pradesh, Punjab, and Jammu & Kashmir have seen growth in both fruit and vegetable production. However, many northeastern states have reported a decline in per capita production.

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Indian capital markets have experienced phenomenal growth over the past five years, highlighted by a 4.4x surge in demat accounts to 179 million and a 3.2x increase in SIP flows to ₹253 billion as of October 2024. Despite this growth, penetration remains relatively low, with demat account penetration at just 12% compared to 62% in the U.S., and mutual fund (MF) AUM-to-GDP at 17% versus the global average of 65%. This highlights immense potential for further expansion.

Bank of Baroda (BoB) report. The arrival of fresh harvests of tomatoes, onions, and potatoes has been reflected in higher mandi arrivals, easing supply pressures. December data indicates further corrections in vegetable prices, while favorable soil moisture and reservoir levels are expected to support a robust Rabi harvest. Additionally, benign global food and energy prices are expected to keep food inflation risks low in the near term.

Jammu and Kashmir Police have filed chargesheets against seven accused persons in Doda district in two separate cases under the Unlawful Activities (Prevention) Act (UAPA). The chargesheets were presented on Friday before the NIA Court in Doda for judicial determination, said the police. Giving details SSP Doda, Sandeep Mehta said that all these accused persons have covertly or overtly supported the militant groups in the Doda district by providing them food and other logistics.

Mind Over Money, Ajit Menon, CEO of PGIM India Mutual Fund, shares insights as a dynamic leader who seamlessly blends creativity, empathy, and innovation to drive growth while fostering a culture of trust and empowerment. With decades of experience in capital markets, he emphasizes the importance of holistic well-being, believing that a fit body fosters a fit mind.

Subscribe to enjoy similar stories. Over the past few weeks, Indian hockey has enjoyed two success stories with a similar storyline, threaded by a common link. At the Women’s Asian Champions Trophy in November, India were favourites as defending champions.

Rammohan Naidu on Friday unveiled the centenary celebrations logo of Netaji Subhash Chandra Bose International Airport (NSCBI Airport) in Kolkata. «Kinjarapu Rammohan Naidu, Hon'ble Union Minister of Civil Aviation has unveiled the official logo to mark 100 years of glorious service of Netaji Subhash Chandra Bose International Airport (NSCBI Airport), Kolkata today,» as per an official release. The logo launch event was graced by Vumlunmang Vualnam, Secretary, MoCA; Vipin Kumar, Chairman, Airports Authority of India (AAI) and other senior officials of MoCA and AAI.

ICICI Bank, India's second largest private lender, Friday said it may realise ₹160-190 crore from the sale of a 19% stake in ICICI Merchant Services to Netherlands-based First Data Holdings 1 (Netherlands) BV. «The board of directors of ICICI Bank at its meeting held today, approved a proposal for sale of a 19% stake held in ICICI Merchant Services (IMSPL), an associate of the bank, subject to receipt of requisite approvals,» the lender said in an exchange filing.

investment demand in 2025, according to ICICI Securities. There are signs of bottom formation and recovery in commodity prices such as cement, metals and oil, along with gross refining margins of oil companies, the brokerage said in a note to clients.

imported coal to use cheaper domestic supplies to help reduce electricity costs while lowering the dependence on overseas sources, said people aware of the matter. India has 15 power plants that use imported coal, including Tata Power’s Coastal Power Gujarat, Adani Power Mundra Ltd, Essar Power Gujarat, and JSW Ratnagiri. A reduction in coal imports will enhance energy security as well. The matter was discussed at a meeting between senior officials of the coal and power ministries this week, said the people cited above.

Double Tax Avoidance Agreement (DTAA) with India effective January 1, 2025, in a move that may raise the tax outgo on dividend income for Indian entities operating in the European country. The decision follows India’s Supreme Court ruling in October 2023 in a case involving Swiss multinational Nestle SA. The court had held that the MFN clause under the DTAA does not get automatically triggered until notified under the Income Tax Act, 1961. “On the basis of the Indian Supreme Court ruling, the Swiss competent authority acknowledges that its interpretation of para 5 of the Protocol to the IN-CH DTA is not shared by the Indian side,” said a recent statement issued by the Swiss authorities. “In the absence of reciprocity, it therefore waives its unilateral application with effect from 1 January 2025.”

Open Network for Digital Commerce (ONDC) non-executive chairperson Ram Sewak Sharma stepped down a few days ago citing personal reasons, people in the know told ET. He was appointed to the position on September 12 this year. Sharma, a former mission director at the Unique Identification Authority of India (UIDAI), continues to be part of the advisory council of the government-backed open ecommerce network, the people said. ONDC and Sharma did not respond to ET's request for comment.

Analogue wristwatches are making a comeback with a growing number of people opting for their simplicity and classic elegance, leaving behind the digital distractions of smartwatches. Tech entrepreneur Madhav Sheth, who introduced Chinese smartphone brands Realme and Honor in the Indian market, has stopped using his smartwatch and returned to an analogue timepiece. The smartwatch would worsen anxiety levels with regular email notifications, which meant taking immediate action, besides constant tracking of health vitals such as pulse rate, according to Sheth. Abhishek Ganguly, former managing director of Puma India, who is building his own sportswear company Agilitas, is giving up on his smartwatch to return to analogue-he uses a fitness band for his workouts only. «Analogue watch adds to my wardrobe,» he said.

Subscribe to enjoy similar stories. India’s non-bank financiers have heeded calls from the Reserve Bank of India to diversify their borrowing profile and are now gradually moving towards more market borrowings and other avenues such as overseas borrowing and securitization or asset sales instead of relying solely upon bank loans.

Subscribe to enjoy similar stories. The name Readymoney evokes an almost magical ability to conjure wealth at will. For the British Empire, hungry for capital to fuel its global mercantile ambitions in the 19th century, Cowasjee Jehangir emerged as a dependable financier, bridging the gap between opportunity and execution.

Subscribe to enjoy similar stories. New Delhi: Businesses need to step up their research and development spending, and the industry expects the government to sustain the growth in budget allocation for capital expenditure as these two would help the Indian industry to become more competitive in global markets, Harsha Vardhan Agarwal, president of Federation of Indian Chambers of Commerce and Industry (Ficci), and vice-chairman and managing director of Emami Ltd, said. In an interview to Mint, Agarwal also downplayed the government’s concerns that private sector salaries were not keeping pace with their multi-year-high profitability, saying that the need to retain talent ensures salary increments in the private sector.

Subscribe to enjoy similar stories. When central banks like the Reserve Bank of India (RBI) reduce interest rates, borrowing becomes cheaper. Companies can then access loans at lower costs, enabling them to invest in new projects, expand operations, or fund innovation more effectively.

Subscribe to enjoy similar stories. Shareholder fury has put a revolving door on the boardroom of Dish TV India Ltd, as investors throw out every new nominee proposed by the company, and the company naming new independent directors who meet the same fate. Investors have ousted a record 25 directors from the Dish TV board in a little over three years, including two on Thursday, as the company continues to reject shareholder demand for a special meeting.