India Financial News

China introduced significant policy measures, including a 20bp OMO rate cut, a 30bp MLF rate cut, and adjustments to the prime loan rates. Deposit rates will decrease by 20-25bp, and a 50bp RRR cut will inject around RMB 1 trillion in liquidity, with further cuts possible. The PBOC will also reduce mortgage rates by 50bp, lower the down payment ratio for second homes, and explore options for banks to purchase land from developers. Additionally, an RMB 500bn liquidity program for non-bank financial institutions and a re-lending initiative for share buybacks were announced. The Chinese stock markets surged following the announcements, with the CSI 300 rising 15% and the Shanghai Composite up 12%. Some economic commentators suggested that these measures could help China curb slowing GDP growth and shift the economy from investment to consumption. However, with India's weight in the MSCI AC World Investable Market Index recently surpassing China's, some are concerned that foreign investors may now reallocate more funds to China.

landslides that killed at least 10 people with seven missing during the last 24 hours, while disrupting transport, officials said on Saturday. Most rivers in the Himalayan nation have swollen, spilling over roads and bridges, authorities said, after nearly a week's delay in the retreat of South Asia's annual monsoon rains brought torrential downpours across the region. Police were working to clear debris and re-open roads to traffic after landslides blocked highways at 28 locations, police spokesman Dan Bahadur Karki said.

Agartala Railway station for entering India illegally from Bangladesh. The arrest was done in a joint operation conducted by the Government Railway Police (GRP), Border Security Force (BSF) and Railway Protection Force (RPF). The arrested include two Bangladeshi nationals identified as Nasim Molla (19) and Shathi Molla (33), one Rohingya Addus Salam (53) and two Indian touts Shabir Aarab (48) and Abdul Sakur Fakir Mahamad Khavra (40), as per information by Tapan Das, OC at the Agartala Rail Station. Das confirmed on Friday that a case has been registered at the GRP Police Station and the arrested individuals are to be presented before the court.

Tamil Nadu Chief Minister M K Stalin on Saturday laid the foundation stone for a new manufacturing facility of auto major Tata Motors here entailing investment of Rs 9,000 crore. The ground breaking ceremony was held at Panapakkam in this district, about 115 km from Chennai. The facility is expected to generate 5,000 new jobs. Besides the CM, senior DMK Ministers Durai Murugan, TRB Rajaa, Chief Secretary N Muruganandam, along with Tata Sons Ltd Chairman N Chandrasekaran participated in the ground breaking ceremony.

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Reasons to buyReasons to avoidThe Safari Pentagon Polypropylene Cabin Luggage is a sturdy and reliable option for travelers seeking durability. With its hardsided construction and compact size, this luggage is perfect for short trips and weekend getaways.

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Amazon Sale 2024: Enjoy up to 75% off on the best room heaters and geysers from brands like Bajaj, Havells and moreThe Philips AC0950 air purifier is a smart solution for purifying air in bedrooms or small spaces, with real-time AQI display and app control. Its HEPA filter captures 99.97% of viruses, allergens, and dust, while its compact design makes it ideal for home use.

Foreign tourist arrivals (FTAs) in India from January to June stood at nearly 4.78 million, with Bangladesh and the US being the top two source countries, according to official data issued by the Ministry of Tourism. The data sheet was shared on Friday on the occasion of the World Tourism Day and figures showed that inbound tourism in the country is trailing the pandemic levels. The ministry shared the figures for the month of June as well as for the January-June period. The FTAs in June 2024 were 7,06,045 as compared to 6,48,008 in June 2023 and 7,26,446 in June 2019 registering a growth of nine per cent and a fall of 2.8 per cent with respect to 2023 and 2019 respectively, according to the data.

Healthcare costs in India are increasing at an annual rate of 14 per cent, the ACKO India Health Insurance Index 2024 shows. The report reveals how that double-digit inflation is causing the rise in healthcare expenses. The index revealed that 23 per cent of hospital costs are funded through borrowings, adding financial strain on families. With 62 percent of healthcare expenses paid out of pocket, the report emphasised the need for improved health coverage to protect individuals from unexpected health crises. The report identified Delhi as having the highest health insurance claims for kidney disease in India, followed by Kochi. «Delhi is the capital for kidney disease, followed by Kochi. Delhi NCR had the highest share of claims related to kidney health. Kochi, Secunderabad, Bengaluru & Jaipur's share of claims was above the National average,» the index report stated. It noted that the average age of patients with kidney issues is 47, and the largest bill filed for kidney-related problems reached Rs 24,73,894.

Global South deserves a permanent seat at the UN Security Council, Bhutan's Prime Minister Tshering Tobgay has said. He also expressed «deepest» gratitude to India for its «support and friendship» for his country's journey of graduating from the Least Developed Countries (LDC) category. «The United Nations must evolve to meet the realities of today's world. The Security Council, as it stands, is a relic of the past. We need a Council that reflects the current geopolitical, economic landscape and social realities,» Tobgay said in his address to the General Debate of the 79th session of the UN General Assembly on Friday.

Indian equity markets scaled new highs in the month of September on the back of 50 bps rate cut by the US Federal Reserve, boosting the sentiments of investors that the easing cycle is here to stay. The markets clocked gains in three out of four weeks during the month. Benchmark Sensex rose 1.22% in September, as many as 62 stocks on BSE 500 clocked double-digit gains of up to 35%. Among these, about seven of them offered over 25% returns to investors during the month.

Ministry of External Affairs on Saturday said that there were no changes made to the overseas citizenship of India (OCI) rules. “We have come across news reports spreading false information that restrictions have been placed on OCI card holders in the recent past,” said the Consulate General of India, New York. It further said, “Friends in the Indian American community are hereby informed that no new change has been introduced in the recent past for OCI card holders. Provisions of Gazette Notification http://F.No. 26011/CC/05/2018-OCI dated March 4, 2021 regarding rights of OCI cardholders continue to remain in force.”

supply chain industry is witnessing a growth in operations as both e-commerce and quick commerce is rising in India. This has pushed up the market for wooden pallets — used for stacking and storing goods and are designed to provide stability to the item. According to Jay Deepak Shah, CEO & MD of Jay Wood Industry, the Indian market for wooden pallets has seen significant growth over the years, and it's poised to continue this upward trajectory. “Between 2024 and 2032, the market is expected to grow at a compound annual growth rate (CAGR) of about 6.8%, driven by several key factors. One of the main drivers is the increasing demand for pallets, which play a critical role in simplifying loading and unloading processes and ensuring the safe delivery of goods. This demand is being further fuelled by the rapid expansion of the e-commerce and logistics sectors in India, which rely heavily on efficient and durable packaging solutions,” he said.

money in the F&O segment in FY24. On average, these traders experienced net losses, including transaction costs, of around Rs 1.20 lakh per person in FY24. SEBI’s study highlights several important findings that shed light on emerging trading patterns in India. Some of these observations challenge common misconceptions and provide much-needed reality checks.

prosthetics and rehabilitation. Yevhen Pramonov was injured last December in Donetsk when he stepped on a mine. Evacuated under heavy gunfire, he survived due to prompt first aid and later treatment at the Superhumans Centre. The centre, established after the Russian invasion, has become essential for both soldiers and civilians. It specializes in prosthetics, mental health support, reconstructive surgery, and rehabilitation. So far, it has treated more than 625 people and provided 850 prosthetic limbs. Aether Biomedical, founded by two Indian innovators, has played a key role in this success by supplying advanced bionic arms. The company, established by Dhruv Agrawal and Faith Jiwakhan, has provided 70 bionic arms to amputees at the centre.

power sector presents a colossal multi-decade investment opportunity, with an estimated INR40 trillion in investments over the next decade. This potential is fuelled by three key drivers: rising power demand, a necessary shift towards renewable energy, and the modernization of aging infrastructure. Power demand in India is expected to grow at a faster rate, with a 7% CAGR over the next decade, driven by a robust economic outlook, urbanization, and new demand drivers such as electric vehicles (EVs), data centres, and the electrification of energy needs.

India has slammed Pakistan in the UN General Assembly, saying its «fingerprints» are on terrorist incidents across the world and the country should realise that cross-border terrorism against India will «inevitably invite consequences». India exercised its Right of Reply in the UN General Assembly on Friday in response to Pakistan Prime Minister Shehbaz Sharif raising the issue of Jammu and Kashmir in his address at the General Debate of the 79th session of the UN General Assembly. «This Assembly regrettably witnessed a travesty this morning. A country run by the military, with a global reputation for terrorism, narcotics trade and transnational crime has had the audacity to attack the world's largest democracy,» First Secretary in India's Permanent Mission to the UN Bhavika Mangalanandan said, delivering India's Right of Reply.

Only 35 overs were possible on the opening day with Bangladesh 107-3 after being invited to bat first by India, who lead the two-match series 1-0. Morning showers made the stadium workers cover the entire ground and more rain is forecast throughout the day.

Thoothukudi on Saturday morning. The India Meteorological Department (IMD) has predicted heavy rainfall in Tamil Nadu, neighbouring Pondicherry, and Kerala on September 29. Several other states including Uttar Pradesh, Madhya Pradesh, Sikkim, Maharashtra, and Andhra Pradesh also received heavy rainfall from 8:30 a.m. on September 27 to 5:30 a.m today, as per the IMD. On September 26, heavy rain lashed the state's capital, Chennai, and left several parts of the city waterlogged. The rain in the city started after 6 pm and continued late into the night. Power outages and traffic snarls were reported from several parts of the city. According to the officials, from yesterday 8.30 am to today 5.30 am, Nungambakkam received 7.42 cm of rainfall and Menambakkam received 7.12 cm of rainfall.