India Financial News

Subscribe to enjoy similar stories. New Delhi: The board of the National Financial Reporting Authority (NFRA) on Tuesday approved a revision of all audit standards issued by the Institute of Chartered Accountants of India (ICAI) in spite of objections from the accountants' body on some of the changes.

Ed Monk, associate director at Fidelity, noted that the shift away from Jupiter India «may reflect investor caution on growing concern that the market bull run may finally be coming to an end, as international enthusiasm for Indian assets has cooled». During October, India's main stock market indices, the BSE SENSEX and the NSE Nifty experienced their steepest monthly declines since March 2020, while the rupee edged close to a record low against the US dollar.  «Fidelity's personal investors seem to be reassessing their exposure amid a less favourable economic environment,» Monk added...

Subscribe to enjoy similar stories. New Delhi: India now ranks among the top 10 countries globally in the number of patents, trademarks and industrial design applications, according to the World Intellectual Property Organization's (WIPO) 2024 report on IP trends. The World Intellectual Property Indicators report underscores India’s rapid progress in the IP landscape.

Subscribe to enjoy similar stories. Industrial technology major Siemens will be focusing on delivering artificial intelligence-based solutions to its customers over selling simple components to differentiate itself and enrich its margins, a top global executive at the firm said.

Subscribe to enjoy similar stories. At 6.21%, retail inflation in October breached the upper limit of the Reserve Bank of India’s target, for the first time since August 2023, thanks to an alarming rise in vegetable prices. A Mint poll of 18 economists had projected inflation to be at 5.95% for the month.

A financially literate and economically empowered female population means more informed financial decisions at the household level, increased savings and investment, and ultimately, a more robust and inclusive economy. In an era of complex financial landscapes, the persistent gender gap in financial literacy remains a significant barrier to women's economic empowerment.

External commercial borrowings (ECB) contracted $1.1 billion sequentially in September, according to the latest Data released by the Reserve Bank of India. ECB registrations by Indian companies through both the automatic and the approval route combined amounted to $4.8 billion in September, down from $5.9 billion in August. Financial services companies accounted for a bulk of ECB registrations for the month with Power Finance Corporation alone seeking to raise $ 1.06 billion from the approval route. Other major borrowers in the automatic route included Shriram Finance which sought to raise $750 million and Cholamandalam Investment and Finance Company which sought to raise $250 million during the month. All the finance companies are tapping the ECB market for on-lending activities.

MTNL has defaulted on a total payment of Rs 5,726.29 crore, comprising a principal amount of Rs 5,492 crore raised from various banks and an interest of Rs 234.28 crore, the company said in a regulatory filing. The company shared that its total financial debt now stands at Rs 32,097.28 crore — 40 times more than its consolidated annual income of Rs 798 crore. Union Telecom Minister Jyotiraditya Scindia on Tuesday told reporters that there is no insecurity about the debt raised by MTNL as it is backed by a sovereign guarantee and the company's business will be transferred to BSNL.

The two sides had started coordinated patrols in the first week of the month after completing disengagement in both Demchok and Depsang in the last week of October. The two sides have agreed to carry out one patrol each by both sides every week in Depsang and Demchok. In each area, one patrol would be carried out by Indian troops and one patrol would be done by the Chinese troops, defence sources told ANI.

After a disappointing batting performance in the second match, India will be looking to make changes to their lineup. Abhishek Sharma's recent form is a concern, and the team may consider bringing in Tilak Varma to open with Sanju Samson. Ramandeep Singh is also an option for the middle order. India's key batters, including Suryakumar Yadav, Hardik Pandya, and Rinku Singh, will need to perform consistently. Pandya, despite scoring 39 runs in the previous game, was slow to score, highlighting an area for improvement. While Samson is currently in good form, other batters must contribute if he has an off day.

Indian Army hosted a Graziers’ Mela under the “Vibrant Village Zemithang”. The event took place in the border village of Nelya, situated at a stunning altitude of 10,000 feet amongst the snow-capped peaks of Zemithang, along the Indo-Tibet and Indo-Bhutan borders on November 11 . This unique gathering aimed to revive and support the centuries-old practice of cattle grazing—a tradition that has sustained generations of the local community. Each grazing season, these resilient graziers journey across international borders in search of lush pastures for their cattle. However, with changing socio-economic and geopolitical landscapes, fewer people are able to sustain this age-old way of life.

Ajit Pawar on Tuesday supported Prime Minister Narendra Modi's 'ek hai to safe hai' slogan, but opposed Yogi Adityanath's refrain 'batenge to katenge', terming it alien to Maharashtra's ideological heritage. Speaking to PTI amid the campaign for the November 20 state assembly elections, he also claimed that his nephew and now rival candidate Yugendra Pawar is not interested in politics, and does not even like to stay in Baramati. Supporting Prime Minister Narendra Modi's campaign slogan of «ek hai to safe hai', he said India will be safe if it remained united. »There is nothing wrong with that (slogan), I don't see any issue here. If we stay together, everyone will prosper," he added.

A young Afghan student, who has lived in India for seven years and completed his doctorate from South Asia University on an MEA scholarship, has agreed to serve as a diplomat at the Afghan Consulate. Over the past three years, most of the Afghan diplomatic staff in India have left, seeking refuge in various Western nations, leaving behind a significant gap in consular services.

360 ONE Wealth and CRISIL on Tuesday released the Wealth Index report. It is a detailed research and analysis on the investment behaviours, preferences, and wealth management trends of India’s ultra-high-net-worth individuals (UHNIs) and high-net-worth individuals (HNIs). The survey has been conducted on 388 UHNIs and HNIs. The index offers a detailed understanding of the investment strategies and priorities of India’s wealthy. India is an emerging global wealth, with the country now host to 334 billionaires as of 2024. Mumbai has solidified its status as Asia’s billionaire capital and ranks third globally. It has raced based some of the cities in US and China. This economic momentum is expected to further fuel wealth creation across sectors like fintech, e-commerce, space, and defence.

casual gaming studio Funstop Games on Tuesday said it has raised $5 million in its Series A funding, in a round led by 360 ONE Asset alongside InfoEdge Ventures, which has doubled down on its previous round. “Our decision to double down on our investment in Funstop Games reflects our confidence in the founders and their continued ability to churn out viral titles even as they have transitioned to a self-publishing model," Chinmaya Sharma, Partner, InfoEdge Ventures said in a statement. «We are excited to see the adoption of Funstop’s games not just by Indians in India but by the larger Indian diaspora overseas as well.” The company said the funds will be used to ramp up Funstop’s game development efforts, build its ad-tech capabilities, and grow its portfolio of games. This is in line with its vision of expanding its presence in the casual gaming sector and creating new titles.

Zydus Lifesciences reported a net profit jump of 14% to Rs 911 crore in Q2FY25 led by robust sales growth in India and US markets. The drug maker had reported a net profit of Rs 801 crore in the July-September quarter of last fiscal.

Asian Champions Trophy hockey here on Tuesday. India raced to a 2-0 lead in the first half through goals from Sangita Kumari (3rd minute) and Deepika (20th) before Korea mounted a strong comeback in the third quarter and drew parity with goals from Yuri Lee (34th) and skipper Eunbi Cheon (38th). But the match was far from over as Deepika scored from the spot in the 57th minute to eke out a close win for India.

China, Korea, and Thailand for five years to guard domestic players from cheap imports from these nations. The duty was imposed as the chemical — Epichlorohydrin — was exported to India from these countries at below-normal prices. «The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier)...,» the department of revenue said in a notification. The levy is imposed following recommendations for the same by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR).

Mauritius’ opposition coalition has won the country’s election by a landslide

Best executive chairs in India 2024: Here are the top 8 options available in different designs for home and office useThe Solimo Accord Chair by Amazon Brand offers a balance of simplicity and functionality for any workspace. This fabric chair has a high-quality build, providing lasting comfort with a contoured back and ergonomic support.

Subscribe to enjoy similar stories. Devyani International Ltd continues to battle weak consumption demand, especially in urban areas. This has hurt the quick-service restaurant operator’s same-store sales performance for many quarters now.