India Financial News

Subscribe to enjoy similar stories. Victims of the $233-million WazirX hack are preparing to sue the cryptocurrency exchange for damages in the national consumer forum after the firm’s Singapore-based parent won a four-month moratorium against legal proceedings in the city-state.

Subscribe to enjoy similar stories. New Delhi: India is putting in place an ambitious plan to secure access to critical minerals in foreign countries by buying majority stakes in overseas companies, two people aware of the development said.

Meta on Friday announced a strategic collaboration with 'IndiaAI' at the Ministry of Electronics and Information Technology (MeitY) to drive advancement of open source AI innovation, R&D and skill development in India. This includes the establishment of the Center for Generative AI, Shrijan at IIT Jodhpur and the launch of the 'AI for Skilling and Capacity Building' initiative, in partnership with All India Council for Technical Education (AICTE). The partnership will enable development of indigenous AI applications, and advance skill development in AI. It would also bolster research capabilities with the aim of contributing to India's AI mission of ensuring tech sovereignty and the vision of AI solutions tailor made for India. «Aimed at propelling the advancement of open source artificial intelligence (AI) in India, as part of its Memorandum of Understanding with the 'IndiaAI', Meta today announced a strategic collaboration with IndiaAI at the MeitY,» according to a release.

telecom services in 600 megahertz spectrum band, a senior official of chip company Qualcomm Technologies said. The smartphone ecosystem will become more premium by the time India decides to make these radio waves available for use, said Durga Malladi, Senior Vice President & General Manager, Technology Planning & Edge Solutions, Qualcomm Technologies. «It's pretty good, actually. Our transceivers already go all the way down to 600 megahertz. So for us, we don't have a problem there, and we are like open to business in any part of the world,» Malladi said during a discussion on the support available in Qualcomm chipsets for 600 Mhz band. Qualcomm chipsets are majorly used in premium smartphones.

Companies News Today Live Updates: Stay ahead of the curve with the latest insights from the corporate world through our company news coverage. This section provides a detailed look at significant events affecting industries and markets globally, including mergers, acquisitions, financial reports, and strategic shifts in leadership and operations.

social security schemes recording a fall in new subscribers, data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday showed. New subscriptions to the Employees Provident Fund (EPF) scheme and the National Pension Scheme (NPS) hit their lowest since the start of the fiscal year, according to MoSPI report, 'Payroll Reporting in India: An Employment Perspective — August 2024'. The number of new EPF subscriptions fell 15% month on month to about 930,000 in August while new subscriptions to Employees State Insurance Corporation (ESIC) dropped by 11% to 1.5 million and those to NPS declined 13% to 54,869.

Narendra Modi's constituency Varanasi, has secured $40 million or over Rs 322 crore of funding from Switzerland's Xport Finance, company's executive director Shivdutt Das told ET. The National Highways and Logistics Management Limited (NHLML), under the administrative control of the ministry of road transport and highways and a 100% owned company of the National Highways Authority of India, has entered into a 60:40 joint venture with VSE to construct the ropeway, sharing 60% of the estimated Rs 807 crore cost of the project. The project could be completed ahead of schedule by early next year as against the earlier target of August 2025, he said. «We had initially targeted to deliver the Varanasi ropeway project by August 2025. At the current pace of work, we should complete it before time,» Das said.

telcos will likely present a united demand before the regulator that new satcom players pay market-determined prices for spectrum – the single biggest capex item for telcos – when they compete with terrestrial network providers. Telcos have collectively spent `5.5 lakh crore to acquire this spectrum. Global biggies such as Elon Musk-owned Starlink and Amazon’s Kuiper are eyeing broadband services in India. Multiple people aware of developments told ET that Reliance Jio, Bharti Airtel and Vodafone Idea will be demanding that if satcom players are allowed to offer services in urban areas, serving retail or enterprise customers, a level playing field with terrestrial networks must be ensured.

Reliance Retail has tapped several expatriates with retail experience from Europe, US and South Asia in a bid to streamline its grocery supply chain operations, enhance the online fashion business Ajio and improve margins, two industry executives said. Some of these expats have also been entrusted to coach a pool of young Indian leaders for a top leadership succession planning exercise started recently by the retail business of Reliance Industries Ltd, the executives said. At least five chief executives at Reliance Retail in their late 50s and 60s may move to mentoring roles as advisors or superannuate over the next few years. The initiatives at Reliance Retail come at a time when brick-and-mortar retailers, including Reliance, and Avenue Supermarts Ltd—the owner of DMart retail chain—are facing intense challenges in grocery retail from quick commerce platforms in large cities amid a subdued demand environment.

Subscribe to enjoy similar stories. The Competition Commission of India (CCI) is considering if there are grounds to open an investigation into the grievances expressed by a trade body against quick commerce platforms Zepto, Blinkit and Instamart.

Patrolling, which had been blocked since April 2020, will resume on the Depsang plateau by the end of this month as the disengagement process with China in Eastern Ladakh will be completed by October 28-29, Army sources said, adding that the process has begun to dismantle temporary structures that had been created after the border flare-up. «Troops from both sides will fall back to positions they held pre April 2020 and will patrol to areas that were patrolled till April 2020. Regular ground commanders meetings will continue to be held,» sources said, explaining that the modalities of patrolling have been identified and a particular strength of patrol parties will be sent by each side.

Vikarm Misri is likely to brief the Shashi Tharoor-led parliamentary panel over the current situation in India-Canada relations and could also brief on recent developments regarding disengagement on LAC between India and China in the next meeting on November 6, sources said. Misri deposed before the parliamentary panel on external affairs on Friday to brief its members belonging from various political parties over the issue of Israel-Palestine conflict. He was accompanied by the senior officials of the External Affairs Ministry.

India «stands ready to make every possible contribution towards restoration of peace» in Ukraine and West Asia, Prime Minister Narendra Modi said on Friday. The strategic partnership between India and Germany has emerged as a «strong anchor» at a time when the world is going through an era of tensions and uncertainty, he said here with Chancellor Olaf Scholz by his side after an inter-governmental commission meeting. «We both agree on ensuring freedom of navigation and adherence to the rule of law in accordance with international laws in the Indo-Pacific region,» Modi said.

NIA) is probing six cases against Sikhs For Justice counsel Gurupatwant Singh Pannun and have attached three immovable properties in Amritsar, said official adding the a red corner notice against him has been withdrawn after he appealed. United States department of justice is probing murder plot against Pannun involving Indian government official and recently indicted a former government official for murder for hire. According to official, Pannun first came under the scanner of Indian security agencies in 2015. This was when he started raising 'Referendum 2020' among Sikh diasporas. Around the same time, there was revival of pro-Khalistan elements in Punjab, with gangs allegedly involved in extortion and killing of religious and political leaders. Pannnun, along with other pro-Khalistan groups, was at the forefront of propaganda on social media, following which the home ministry in 2019 banned SFJ and a year later designated Pannun as a terrorist under Unlawful Activities (Prevention) Act, 1967. After the DoJ indictment of an Indian national, the foreign ministry, however, announced the setting up of a committee to probe the allegations.

Turkey on Friday dismissed reports that India had opposed its entry as a BRICS partner country at the group's just-concluded Kazan Summit. A day earlier, a report had appeared in a German daily alleging that India had opposed Turkey's entry into the BRICS partner mechanism. Ankara's dismissal of the report came in an official statement. The news report also preceded German Chancellor Olaf Scholz's three-day official visit to India which began on October 25.

The GoFundMe set up for the family of a young woman who was found dead inside of a walk-in oven at a Walmart in Halifax have paused donations after the amount quadrupled from the original ask.

Gyanvapi complex. The lawyer representing the Hindu side, Madan Mohan Yadav, said Civil Judge Senior Division Yughul Shambhu rejected the petition. Following a July 2023 order of the district court, the Archaeological Survey of India (ASI) carried out a scientific survey of the Gyanvapi premises, located next to the Kashi Vishwanath temple here, to determine whether the mosque was constructed over a pre-existing structure of a Hindu temple. The ASI submitted its survey report to the district court in a sealed cover on December 18.

Air India Express, a subsidiary of Air India, on Friday announced commencement of direct flights from Port Blair to Kolkata. The double daily flights to and fro Kolkata will commence on December 1, it said, adding that bookings are now open on the airline's website, mobile app, and other major booking channels. The first flight from Port Blair to Kolkata will take off at 8.35am and reach Kolkata at 10.45am. The second flight will leave Port Blair at 12.20pm and reach Kolkata at 2.35pm. On the other hand, the first flight from Kolkata to Port Blair will take off at 5.40am and reach Port Blair at 7.50 am. The second one will start at 9.20am and reach at 11.40am, the airline statement said.

India and Germany voiced concern on the ongoing conflicts in Ukraine and West Asia on Friday, with Prime Minister Narendra Modi asserting that New Delhi is ready to make every possible contribution for the restoration of peace. At the 7th India-Germany Inter-Governmental Consultations (IGC), German Chancellor Olaf Scholz described India as an anchor of stability and requested Modi to work jointly to bring about political solutions to the twin conflicts that have been raging for long. «The ongoing conflicts in Ukraine and West Asia are a matter of concern for both countries. India has always been of the view that war cannot be a solution to problems. India is ready to make every possible contribution for the restoration of peace,» Modi said, with the visiting German chancellor by his side. At the IGC, the two sides signed 18 agreements and documents, including a Mutual Legal Assistance Treaty in Criminal Matters and an agreement on exchange and mutual protection of classified information.

Indian wrestling team's participation at the World Championships after all the 12 selected athletes assembled outside the residence of Sports Minister Mansukh Mandaviya and sought his intervention, a day after the WFI withdrew the nation's entries from the prestigious tournament. The Wrestling Federation of India (WFI) was on Thursday forced to pull all three Indian teams out of the championships after wrestler Satyawart Kadian, husband of Sakshi Malik, approached the court against the federation's decision to conduct trials for the U23 and senior Worlds. Kadian contended that sice WFI is suspended, it was committing a contempt of court by taking decisions. The WFI remains suspended by the ministry and the IOA has refused to re-introduce the ad-hoc panel, leaving the sport and the future of the wrestlers in limbo. The world governing body UWW has, though, lifted suspension of the WFI in February this year.

Chief Justice of India D Y Chandrachud on Friday said what sustained him as a judge, even at the time of scrutiny, was his sense of compassion for society. «The element of scrutiny gets into our work. Nothing misses this scrutiny.