India Financial News

Subscribe to enjoy similar stories. MUMBAI : The Banking Laws (Amendment) Bill, 2024, which allows bank account holders to have up to four nominees, marks a significant shift in how money invested in banking products can be managed and distributed after the account holder's demise. The bill, passed by the Lok Sabha on 3 December, says that nominees are only custodians and safekeepers representing the beneficiaries (if there is a testamentary document, e.g., Will/Trust deed) and heirs (in the absence of a testamentary document).

Subscribe to enjoy similar stories. As demand for hotel rooms in India is expected to outpace supply in the coming years, Lemon Tree Hotels is readying itself to leverage its brand identity and capture a more premium pricing. The company’s chairperson, Patanjali G.

Subscribe to enjoy similar stories. Our struggles with achieving foundational literacy and numeracy (FLN) in the nine schools that we run, despite the resources and expertise available, are significant. To begin with, let me recap my earlier column.

BJP leader Pravin Darekar on Sunday stated that Sharad Pawar support for West Bengal Chief Minister Mamata Banerjee's willingess to lead the INDIA bloc, meant that the Nationalist Congress Party (SP) chief wanted to convey Rahul Gandhi's leadership is «incapable» and that now Congress is «unable» to lead the opposition alliance. «I think this means that Pawar Sahab wants to say that Rahul Gandhi's leadership is not capable and Congress can't lead now. So, Pawar Sahab's direction is towards one side and words on the other side. Only time will tell what is in his mind,» Darekar told ANI. Sharad Pawar on Saturday acknowledged the leadership potential of West Bengal Chief Minister Mamata Banerjee, emphasising her prominence as a national leader and the competence of her party's representatives in Parliament.

Congress general secretary in-charge communications Jairam Ramesh said a discussion in Parliament on the India-China relationship should focus on both strategic and economic policy, especially since our dependence on China has increased economically, even as it unilaterally changed the status quo on our borders over four years back. In a statement, Ramesh said the Congress has studied the recent suo motu statement made by External Affairs Minister S Jaishankar in both Houses of Parliament titled «Recent Developments in India's Relations with China».

Bhartiya Nagrik Surakhsha Sanhita 2023. The plea has been filed through advocate Vishal Tiwari, which oppose and challenge the constitutionality of some provisions in criminal laws passed in Lok Sabha on December 20, 2023. In the petition, advocate Vishal Tiwari has urged the Supreme Court to consider his representation and and declare the Provisions/Section 187(2) (3), 43(3), 173 (3) and 85 of the Bhartiya Nagrik Surakhsha Sanhita 2023 as Ultra vires/ Unconstitutional being Violative of Article 21 of the Constitution of India.

Subscribe to enjoy similar stories. There’s something about the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meetings that makes these the cynosure of all eyes.

Subscribe to enjoy similar stories. India’s public broadcaster Prasar Bharati is shaping its new streaming platform, WAVES, as a destination for family-focused content across genres like sports, culture, general entertainment, and education, its top official said. The platform, launched in November, will offer free access to shows from its linear TV channels, alongside select curated premium content from collaborations with streaming platforms like Lionsgate and Eros.

Vishal Mega Mart IPO before subscribing to the issue.

Samajwadi Party (SP) has officially severed its ties with the Maha Vikas Aghadi (MVA) in Maharashtra, citing disagreements over the Shiv Sena (UBT)’s embrace of Hindutva ideology. The decision follows the controversial comments made by Sena (UBT) leaders in the wake of the Babri Masjid demolition anniversary. SP’s two MLAs, Abu Azmi and Rais Shaikh, took their oaths in the Maharashtra Assembly on Saturday despite the MVA's boycott of the ceremony, marking a significant break within the opposition alliance.

Comptroller and Auditor General (CAG) unearthed a loss of excise revenue amounting to Rs 75.07 crore due to manipulation of manually maintained sales registers by retail shops of alcoholic beverages in Odisha during the COVID-19 pandemic. In its report, which was placed in the assembly on Saturday, the CAG said that the Odisha Excise Department in May 2020 imposed the Special COVID Fee (SCF), at the rate of 50 per cent of the maximum retail price, on all foreign made foreign liquor, Indian Made Foreign Liquor (IMFL), beer, wine and ready to drink beverages, sold in the state. SCF was imposed in view of the expected loss of excise revenue, on account of the two months' shutdown, as a response to the COVID-19 pandemic.

The comments from the minister come even as there seems to be some unease among southern states when it comes to dealing with the Adani group, especially after the second richest Indian Gautam Adani and others faced charges of bribing officials to secure contracts. Rajeev said Kerala has a big investment from the Adani group in the Vizhinjam Seaport near its capital Thiruvananthapuram and added that the current government decided to go ahead with the project signed by the predecessors only because the benefits accrued to the state and its people through the ambitious transshipment port.

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said. Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said. Given the paucity of time, it is difficult to present the Bill in the ongoing session, sources said, adding it may, however, come in the Budget session. The finance ministry has proposed to amend various provisions of the Insurance Act, of 1938, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.

Maharashtra Chief Minister Devendra Fadnavis has lauded the state as the business magnet and powerhouse of the Indian economy. «We are back and we are back with a bang,» he said at the CNBC-TV18 India Business Leader Awards (IBLA) in Mumbai on Saturday. The newly elected chief minister thanked the people of Maharashtra for the mandate they gave to the Mahayuti coalition, which he said is not only unprecedented but also entrusts them with the responsibility to contribute most to the Indian economy.

Redmi Note 14 series on December 9. The series, comprising the Redmi Note 14 5G, Redmi Note 14 Pro, and Redmi Note 14 Pro+, will bring advanced features to the Indian market. These devices, initially introduced in China in September, are expected to feature similar specifications with minor changes to suit Indian customers.

Pat Cummins warned India that Australia are pumped up and back to their best as they look to carry the momentum from a commanding 10-wicket win on Sunday into the next Test in Brisbane. «That's the kind of team that I remember, and how we want to play our cricket. So really satisfying. The defeat in Perth and negative media coverage made their eighth consecutive pink-ball win in Adelaide taste even better,» skipper Cummins said. Read More: WTC points table updated: What are India's chances to play WTC final after Australia crushes them to win second Test

fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that «overly aggressive targets» beyond these could adversely affect India's economic growth. «India has been growing rapidly amidst a slowing global economy. Prudent fiscal management for macroeconomic stability has been pivotal to this growth,» said Chandrajit Banerjee, Director General, CII, elaborating on suggestions for the forthcoming Union Budget. CII also highlighted the announcement in the Union Budget 2024-25 to keep the fiscal deficit at levels that help reduce the debt-to-GDP ratio. In preparation for this, the forthcoming budget could lay out a glide path to bring the central government's debt to below 50 per cent of GDP in the medium term (by 2030-31), and below 40 per cent of GDP in the long term, CII has suggested.

Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units. «We have seen a few cycles of price increase in India. It happens at the beginning of the calendar year and financial year, but few OEMs pick the timing based on their planned launches as well,» Deloitte India Partner Rajat Mahajan said.

Gurgaon's DLF Camellias has been sold for Rs 190 crore, marking it as the most expensive high-rise apartment transaction in the National Capital Region (NCR) and one of India's highest-ever price-per-square-foot deals. This 16,290-square-foot property was purchased by Info-x Software Tech Pvt Ltd through its director, Rishi Parti, according to real estate documents accessed by IndexTap.

Modi government has agreed to a «new normal» over the «old normal» prevailing prior to April 2020 and demanded that Parliament must be given an opportunity to debate the full gamut of the relationship between the two countries. Congress general secretary in-charge communications Jairam Ramesh said a discussion in Parliament on India-China relationship should focus on both strategic and economic policy, especially since our dependence on China has increased economically, even as it unilaterally changed the status quo on our borders over four years back. In a statement, Ramesh said the Congress has studied the recent suo motu statement made by External Affairs Minister S Jaishankar in both Houses of Parliament titled «Recent Developments in India's Relations with China».

Jasprit Bumrah is only human and cannot always shoulder the responsibility of bowling opposition out all by himself, skipper Rohit Sharma said on Sunday, urging others to share the load with the premier fast bowler. India lost to Australia by 10 wickets in the second Test and during the Australian innings, only Bumrah stood out with a four-wicket haul. «Jasprit Bumrah cannot alone take responsibility. You don't expect him to bowl from both ends. The other guys also needs to step in and share the responsibility. There will be days when Bumrah won't get wickets,» Rohit said at the post-match press conference.