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gold loan disbursements during the transition phase and curb growth in the business," the note by Crisil said. It can be noted that a few weeks ago, RBI had flagged certain irregular practices in loan against gold jewellery and asked lenders to comprehensively review their policies, processes and practices to identify gaps and initiate remedial measures in a time-bound manner. The notification had flagged deficiencies in the monitoring of the loan-to-value (LTV) ratio, asset classification norms for overdue loan accounts, and inadequate due-diligence in monitoring the end-use of gold loans.

work from home on Wednesday, October 23, due to a heavy rain forecast in the Bengaluru Urban district. This would be the second time in two weeks that the government has recommended WFH for private companies. “The India Meteorological Department (IMD)—Met Centre Bengaluru has issued a yellow warning for Bengaluru Urban, effective from 1:30 PM on October 22 to 8:30 AM on October 23. The warning indicates potentially bad weather conditions due to heavy rainfall,” said Champa E, General Manager of KITS, adding that the safety and well-being of the employees should be prioritised in such circumstances. Bengaluru Urban District Commissioner G Jagadeesha also issued a directive declaring a holiday for all schools; however, there is no such order for colleges.

“This price rise will impact the demand for silver during the Dhanteras-Diwali period and volume-wise it may drop by 15-20 per cent,” said Surendra Mehta, national secretary of India Bullion & Jewellery Association (IBJA).

online travel agents (OTAs) and industry bodies to develop standard operating procedures (SoPs) and transparent policies to process refunds, to address widespread complaints from travellers about irregularities and transparency issues in air ticket cancellation refunds. The ministry has written to companies such as MakeMyTrip, Yatra, EaseMyTrip, Thomas Cook and Cleartrip and industry bodies including Indian Association of Tour Operators (IATO) and Travel Agents Association of India (TAAI), stating there is an “urgent need” to bring in transparency in the cancellation refund process. ET has seen a copy of the letter dated October 15.

Swavlamban Shakti at the Babina Field Firing Ranges. More than 1,800 personnel, 210 armoured vehicles, 50 specialist vehicles, and multiple air and aviation assets participated in this exercise conducted by White Tiger Division under Sudarshan Chakra Corps over six days from October 17. The Sudarshan Chakra Corps is a strike corps of the Army and is headquartered in Bhopal. This large-scale manoeuvre and live-fire exercise focused on testing New Technology Equipment (NTEs) from the Indian defence industry, to shape future combat strategies.

revenue from Indian trips in 2023. The target is to boost revenues by 10% from India next year besides pitching new luxury accommodation options for Indian travellers and other India only campaigns targeted at honeymooners in the country, said Petra Hedorfer, CEO of German National Tourism Board. The German National Tourist Board (GNTB) works on behalf of the Federal Ministry for Economic Affairs and Climate Action to represent Germany as a tourist destination and is funded by the Ministry in accordance with a decision taken by the German Bundestag. She said in order to continue participating in the rapid growth of the Indian outbound market, the German National Tourist Board (GNTB) is systematically expanding its market activities on the subcontinent. “In view of the changing conditions, especially technological developments, we are also organizing a high-profile delegation trip with top managers from the German travel industry next spring with the GNTB India Digital Travel Knowledge Tour,” said Hedorfer.

“Digital will be one of the competitive advantages for Air India. We want to be the most technologically advanced airline in the world,” Satya Ramawamy, Chief Digital and Technology Officer at Air India. The airline, which lacked any modern technology in its daily functioning before privatisation, has invested heavily to upgrade its digital capabilities including investing in artificial intelligence.

BRICS Summit 2024 at Kazan in Russia will be watched keenly by the United States. The BRIC grouping, including Brazil, Russia, India, and China, was formally started in 2006. In 2009, the first BRIC Summit was held in Russia.

Aadhaar, wherein only the last four digits are visible, is an accepted proof of identity. 72% are also uninformed about the rules of handling a minor's data and the requirement of needing the consent of parents or guardians—these are findings revealed in a PwC report. The report noted that out of the surveyed individuals, only 16% of consumers are aware of the Digital Personal Data Protection (DPDP) Act across diverse geographies, age groups, occupational backgrounds, and urban-rural divides.

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Subscribe to enjoy similar stories. Stock of Hyundai Motor India Ltd, only the second pure-play passenger vehicle maker to be listed on the Indian stock exchanges after Maruti Suzuki India Ltd, debuted on the National Stock Exchange (NSE) at ₹1,934 on Tuesday, a slight discount to its issue price ₹1,960. The issue—a milestone for both the company’s parent Hyundai Motor Co.

Ruchir Modi, son of former Indian Premier League chairman Lalit Modi, has filed a plea in the Delhi High Court seeking distribution of the dividends of Rs 620.83 crore, received by the K.K. Modi Family Trust companies since 2020, among the four family branches — Lalit Modi, Bina Modi, Samir Modi and Charu Modi. Justice Subramonium Prasad has given two weeks to Bina and her daughter Charu Modi to respond to the Ruchir's application. The case will be next heard on November 19. Ruchir in his fresh plea has alleged that several trust companies including Godfrey Phillips India (GPIL), IPM India Wholesale Trading and Indofil Industries have announced and distributed dividends the tune of Rs 620.83 crore to the upstream Trust companies since 2020, but he and his family branch had been kept «completely in the dark» and his family branch is entitled to a 25% share.

Urban India is under some strain as demand continues to be muted amid surging food inflation, packaged foods maker Nestle India’s chairman Suresh Narayanan said at a media briefing on Tuesday at the company’s infant foods plant in Samalkha. He said there are “some pressure points from mega cities and metros" though tier one and below towns and rural markets seem to be reasonably stable. “The FMCG sector is facing sluggish demand with growth declining to 1.5-2 per cent compared to double digit growth a few quarters ago,” Narayanan said. The maker of Maggi noodles, KitKat chocolates and Nescafe coffee, reported a marginal 0.94% year-on-year decline in net profit for the July-September ’24 quarter, down to Rs 899.49 crore, hurt by softer demand and high commodity prices. The India unit of the Swiss foods company had reported net profit of Rs 908.08 crore in the year-ago quarter.

Reliance Infrastructure on Tuesday said it will set up the largest integrated project for manufacturing of explosives, ammunition and small arms in Ratnagiri, Maharashtra at an investment over Rs 10,000 crore in the project over the next 10 years. Reliance Infrastructure through its subsidiaries has exported defence equipment worth more than Rs 1,000 crore over a period of time, it added. «The company has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC). DADC will be the largest GREENFIELD project in the Defence Sector in India by any private sector company,» the company said in a statement.

Cotton Association of India (CAI) has pegged India‘s 2024-25 year-on-year cotton production lower by 7% due to fall in acreage and crop loss due to excess rainfall. The trade body also expects India's cotton imports to jump by 42% and the exports to fall by 37%. The CAI has pegged the all India total cotton pressing for the 2024-25 season at 302 lakh bales of 170 kgs each as against 325 lakh bales produced last year. «There are reports of crop damage due to excessive rainfalls in several cotton growing states. The Ministry of Agriculture has reported acreage under cotton to be lower by 10% than last year,» said CAI in a media release.

Subscribe to enjoy similar stories. NEW DELHI—India and China have reached a breakthrough in discussions over their disputed Himalayan border, signaling room for improved ties after a high-altitude skirmish froze relations between the Asian giants. The two countries have arrived at an arrangement to resume patrolling along their de facto border, said India’s Foreign Secretary Vikram Misri on Monday.

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Subscribe to enjoy similar stories. Ambuja Cements' acquisition of a 46.8% stake in Orient Cement for ₹395.4 per share has sparked debate about whether the company is paying a premium in a competitive market. As consolidation gains pace across the cement sector, Ambuja is expanding capacity despite lofty valuations and soft earnings weighing on the industry’s short-term outlook.