India Financial News

Subscribe to enjoy similar stories. For Daniel Langthasa, 40, and Avantika Roohi Haflongbar, 39, starting a music festival on wheels was a dream. A little over a decade ago, they entered their idea for a music festival that travelled across the Northeast in a entrepreneurship contest and won the first prize.

The Insurance Broking Association of India recently published a report on general insurance claims, which includes a simple comparison of various insurers’ claims performance across a range of metrics. The data is also broken down by line of business – health, motor, fire, etc. 

Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that a fifth GST slab of 35 per cent on demerit goods such as aerated beverages, cigarettes and tobacco, and pricing-based rate structure will materially and fundamentally alter the country's GST framework with devastating outcomes. These recommendations violate both the letter and the spirit that it will be a 'good and simple tax', Indian Sellers Collective said in a statement on Thursday ahead of the 55th GST Council meeting to be held on December 21, 2024 at Jaisalmer, Rajasthan. «On the contrary, it will hurt the profit margins of the retailers, lead to compliance nightmares and fuel a parallel economy. This move will primarily benefit Chinese producers who dominate the market of cheap products at the cost of Indian producers,» it said.

urban design and create dense cities which fits our esthetics, our way of living and are economically viable, Sanjeev Sanyal, member of the Economic Advisory Council to the PM (EAC-PM) said calling for a need to redeploy land and old buildings and revisiting the standards set for building construction to allow more innovation in design. “This requires us to rethink our architecture and town planning from bottom up instead of the prevalent top down approach,” he said on Wednesday while addressing a session on urban planning at the Global Economic Policy Forum 2024, organised by the Confederation of Indian Industry. Citing the example of Chandigarh, which Sanyal terms as an economically unviable city, he said it is not a good idea to ever recreate Chandigarh again.

Iyengar ceremony. The actress looked radiant in a traditional yellow and green madisar saree, complemented by a side bun styled in the iconic Aandal Kondai. Superstar Thalapathy Vijay was one of the esteemed guests at the wedding. Take a look at the stunning pictures here:

One Nation, One Election" bill, a significant move aimed at streamlining the electoral process. A comprehensive bill is expected to follow this decision, paving the way for unified elections across the nation. Earlier on Wednesday, former President of India Ram Nath Kovind stated that the Central government must build a consensus on the 'One Nation, One Election' initiative, emphasising that the issue transcends political interests and serves the nation as a whole.

MobiKwik, a leading player in India’s fintech space, has launched its ₹572 crore IPO. With 15 years of innovation in digital payments and financial product distribution, it has become a trusted name for users in tier 2 and tier 3 cities. In an exclusive interview, ETMarkets spoke to Upasana Taku (Chairperson & CFO) and Bipin Preet Singh (MD & CEO) about MobiKwik’s journey, competitive edge, financials, and future plans. Excerpts: With an issue size of over ₹570 crore, MobiKwik's IPO seems significant. Could you briefly take us through the journey of the company and its business model? Bipin Preet Singh: MobiKwik is a fintech company that began 15 years ago as a digital wallet. Our primary business revolves around payments, making us India’s largest digital wallet with over 160 million users and 4 million merchants. The app facilitates bill payments, money transfers, online shopping, and QR-based transactions.

Bombay High Court has held that not letting a child meet her mother amounts to 'cruelty' under the Indian Penal Code, and refused to quash a First Information Report registered against the in-laws of a Jalna-based woman. A bench of Justices Vibha Kankanwadi and Rohit Joshi at Aurangabad noted in its order of December 11 that the woman's daughter, only four years old, is being kept away from her despite a lower court's order. «Keeping a young child of four years away from her mother also amounts to mental harassment, amounting to cruelty in as much as it would certainly cause grave injury to the mental health of the mother,» the HC said. Such behaviour by in-laws amounts to 'cruelty' as defined under section 498-A of the IPC, the court added. «The mental harassment is continuing from day to day till date. It is a continuing wrong,» the bench observed. It would not quash the FIR as this was not a fit case for the court to interfere, it added. The woman's father-in-law, mother-in-law and sister-in-law had sought quashing of the 2022 FIR registered against them in Jalna district of Maharashtra for alleged cruelty, harassment and criminal intimidation.

NBCC has been appointed as a project management consultant to complete Supertech Ltd's 16 real estate projects at a cost of nearly Rs 9,500 crore, a move that will provide relief to thousands of homebuyers. In a regulatory filing on Thursday, the company informed that the National Company Law Appellate Tribunal (NCLAT), vide its order dated December 12, 2024, has «appointed NBCC (India) Limited as Project Management Consultant for the completion of 16 projects of Supertech Ltd». NBCC will complete 16 projects, comprising 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana and Karnakata. «The tentative construction cost of the project is approx Rs 9,445 crore, including 3 per cent contingency. The consultancy fee has been fixed as 8 per cent, including 1 per cent marketing fee,» NBCC said.

One Nation One Election bill. A comprehensive bill is expected to follow this decision, paving the way for unified elections across the nation. Earlier on Wednesday, former President of India Ram Nath Kovind stated that the Central government must build a consensus on the 'One Nation, One Election' initiative, emphasising that the issue transcends political interests and serves the nation as a whole.

passive funds: Mirae Asset Nifty India New Age Consumption ETF and Mirae Asset Nifty India New Age Consumption ETF Fund of Fund. The new fund offer or NFO of Mirae Asset Nifty India New Age Consumption ETF and Mirae Asset Nifty India New Age Consumption ETF Fund of Fund are open for subscription and will close on December 20 and December 26 respectively. Also Read | Mutual funds see Rs 8,995 crore inflow in mid and small cap funds in November. Should you allocate more?

ANI. The Ministry of Labour & Employment is upgrading its IT systems for enhanced services to India's workforce, Dawra said.

Capacity utilisation of domestic steel industry in 2024-25 is poised to slip below 80 per cent for the first time in four years as cheap imports nibble at market share, according to rating agency ICRA. Fresh upcoming capacity addition plans could be at risk of a slowdown unless earnings of domestic steel mills inch up from prevailing levels, the rating said in a statement Thursday. Following the post-Covid metals rally, the domestic steel industry was able to achieve the impossible trinity of maintaining above 80 per cent capacity utilisation rates, a strong investment pipeline, and comfortable leverage levels for three years back-to-back between 2021-22 and 2023-24.

Union Budget 2025 approaches, leading experts are calling for a significant increase in infrastructure spending to catalyse India's economic growth. The government is urged to go for an 30% annual rise in infrastructure allocations, with demands for the upcoming budget to push capital expenditure to ₹18 lakh crore from last year’s ₹11.1 lakh crore base. Annual increase in capital expenditure is crucial to reversing GDP slowdown and achieving the nation's ambitious economic goals. A robust budget allocation and proactive private-sector participation will be pivotal in ensuring sustainable and inclusive growth.

Colgate-Palmolive (India) Ltd. 1.56 per cent to Rs 2845.65 in Thursday's trade as of 01:48PM (IST) even as the benchmark Nifty ruled at 24564.0, 77.8 points. The scrip had closed at Rs 2890.75 in the previous session. The stock quoted a 52-week low of Rs 2288.90 and a high of Rs 3893.00. The company quoted a market-cap of Rs 77314.64 crore on the BSE.

edible oil import rose 38.5 per cent to 15.9 lakh tonne in November mainly due to sharp jump in shipments of crude sunflower oil and crude soyabean oil, according to industry data. On Thursday, Solvent Extractors' Association of India (SEA) released the data of import of vegetable oil (edible and non-edible ) for November. As per the data, import of vegetable oils during November, the first month of the 2024-25 oil marketing year, rose 40 per cent to 16,27,642 tonne compared to 11,60,590 tonne a year ago. Out of total vegetable oil import, India imported 15,90,301 tonne of edible oil in November as against 11,48,092 tonne in the same month last year. Import of non-edible oils increased to 37,341 tonne compared to 12,498 tonne in November 2023.

Prashant Mehta as Managing Director to lead its Global Delivery Centre (GDC). Mehta will focus on accelerating the GDC’s global growth, with a significant concentration of talent based in India. The specialist capability hub, accessible to all WPP agency teams worldwide, will be headquartered in India. This follows the recent opening of a new campus in Chennai, WPP’s third in the country after Mumbai and Gurugram. India, a top-10 growth market for WPP and a hub of technological innovation and creativity, is pivotal to the GDC’s strategic expansion. Leveraging an existing workforce of 11,000 in the country, the GDC enhances WPP’s presence by capitalising on India’s resources and specialist expertise.

season's first snowfall, while higher reaches experienced moderate rainfall, officials said on Thursday, adding that the minimum temperature has improved across most places in the valley. The plains of Shopian, Pulwama, and Baramulla, as well as the upper areas of Anantnag, Budgam, and Bandipora received light snowfall. However, there was no snowfall in Srinagar, the summer capital of Jammu and Kashmir. The higher reaches of the valley, including the tourist resorts of Gulmarg, Sonamarg, Tangmarg, Gurez and the Zojila Pass, saw light to moderate snowfall. Due to accumulation of snow along the Zojila Pass, the Srinagar-Leh highway was closed for traffic, while the Bandipora-Gurez road and Mughal Road were also shut, officials said.

India Meteorological Department (IMD) issuing an orange alert in four districts of the state for the day. The IMD sounded the orange alert in Kollam, Ernakulam, Idukki and Thrissur districts. The weather department also issued a yellow alert in eight districts of the state for the day. An orange alert means very heavy rain (6 cm to 20 cm). A yellow alert means heavy rainfall between 6 and 11 cm.

FTA) with the European Union (EU) during an interaction with Ambassadors from the European Commission delegation and member states. According to the Ministry of Commerce and Industry, the meeting, attended by representatives from Austria, Belgium, Bulgaria, and several other EU nations, along with senior Indian officials, emphasized the growing trade and economic partnership between India and the EU. Highlighting the progress in the FTA negotiations, Goyal acknowledged the need for political guidance to finalize a commercially meaningful agreement that respects the sensitivities of both parties.

Mutual funds in November bought stocks worth Rs 264 billion in the Indian secondary market. The mutual fund managers actively churn the scheme portfolios and accordingly make changes from their portfolios to deliver better performance. Here are the large, mid, and smallcap stocks that mutual funds bought and sold in November, according to the Mutual Fund Insights report by Nuvama Alternative & Quantitative Research. The highest deployment by the mutual fund industry were Zomato's QIP (Rs 56 billion), IPOs of Swiggy (Rs 53 billion), and NTPC Green (Rs 40 billion). Meanwhile, mutual funds utilised the MSCI-driven liquidity at the end of November to partially exit inclusion such as HDFC Bank (Rs 110 billion), Voltas (Rs 14 billion), Oberoi Realty (Rs 11 billion), and Alkem (Rs 8 billion). Also Read | Mutual funds see Rs 8,995 crore inflow in mid and small cap funds in November. Should you allocate more?