Record News

Public Financial Management System 2.0 to ensure efficient and transparent utilisation of funds of urban and rural local bodies, harnessing the Treasury Single Account (TSA) mechanism. The Controller General of Accounts (CGA) is working on a standard accounting process for the urban and rural local bodies and the target is to add at least all large local bodies ahead of FY27, officials said. The move is part of the next set of policy reforms that aim to make local bodies accountable for transparent usage of public money and to prevent fund diversion and delay in allocation of money.

The vox pop-style video, seemingly recorded in Mumbai, features a man posing a straightforward question to pedestrians: “What is the official language of Bengaluru?” One respondent confidently stated, “I think Bengaluru doesn’t have an official language.” Another immediately answered, “Hindi,” while a third person, seemingly uncertain yet determined, offered, “Hindi or Sanskrit. I’d place my bets on both.”

IndiGo continued to dominate the market, expanding its share to approximately 65%, according to a report by domestic brokerage firm Motilal Oswal. Motilal Oswal highlights that IndiGo's domestic PAX stood at 9.5 million, reflecting a 20% YoY surge. Its domestic market share rose to 65.2%, gaining 490 bps YoY, highlighting its ability to capture demand effectively. In contrast, Air India Group’s market share was recorded at 27.7%, while SpiceJet held 3.2%.

Subscribe to enjoy similar stories. The Nifty 50, India's benchmark index, declined by 420 points after US President Donald Trump announced an additional 10% tariff on China and a 25% duty on Canada and Mexico, triggering global trade war concerns among investors. After trading within a narrow range of 22,500–22,800 during a holiday-shortened week, the index fell sharply on Friday, closing around 22,125.

Enforcement Directorate (ED) is investigating if there's a foreign link to a multi-thousand crore fraud allegedly committed by an IT company headquartered in Noida. The agency has thus far identified proceeds of crime to be ₹3,558 crore, generated by Vuenow Marketing Services Ltd (VMSL) and its entities. In a breakthrough, the federal agency Saturday arrested Sukhvinder Singh Kharour, CEO of the company, and his wife Dimple Kharour. The agency said that the duo was trying to fly out of India, however an active look out circular (opened against them at the behest of the agency) helped detain the duo at the Indira Gandhi International Airport after the Bureau of Immigration tipped off the federal agency sleuths. Interestingly, Sukhvinder claimed before the court that he and his wife were arrested from Nepal at 8 am on February 28. The court found Sukhvinder's claim «devoid of any merit» and granted ED ten days of custodial interrogation.

above normal temperatures in March through May summer is likely to adversely affect India's wheat crop. Inflation in wheat has remained high for the past four years mainly due to the adverse impact of weather conditions. After having witnessed the hottest February on record in 125 years, the Met department (IMD) has forecast above normal maximum and minimum temperatures over most parts of the country from March to April 2025. The number of heat waves in March, which is crucial for the grain formation stage of wheat, is also expected to go up.

Real estate project registrations declined to 19,760 in 2024 from 22,143 in 2023 and 25,230 in 2022, as developers grew more cautious after a two-year bull run in the sector, as per data provided by NSE-listed data analytics firm PropEquity. After the Covid pandemic, rising property transactions and values led to a surge in project registrations in 2022 and 2023. However, prices stabilised in 2024, leading to a slowdown in new launches. «With home prices settling, we have seen fewer new projects this year,» said Sachin Arora, founder of Moneytree Realty.

Subscribe to enjoy similar stories. Mumbai: With just over two weeks to go for the Indian Premier League (IPL) 2025, JioStar—the joint venture between Reliance Industries Ltd’s Viacom18 and The Walt Disney Co.—has secured 12 sponsors and is targeting ₹5,000 crore in advertising revenue from this edition, according to two people aware of the matter. However, industry experts are not sure if this target is achievable.

ethnic wear, suits, motorbikes and staples. Listed jewellery chains, such as Tanishq, Kalyan Jewellers and Senco Gold, said same store sales growth has been strong, while the 30%-plus surge in gold prices over the past year appears to have had little impact on demand for the precious metal that has become seemingly inseparable from traditional wedding rituals in the country. «The wedding demand is very strong,» said Ramesh Kalyanaraman, executive director, Kalyan Jewellers India. This, he said, is despite the recent «turbulence» in gold prices.

Five other places recorded temperatures of above 37 degrees Celsius. They are Angul (37.9), Titlagarh (37.6), Jharsuguda and Bhadrak (37.5), and Jajpur (37.2). Bhawanipatna, Sonepur, and Baripada recorded a maximum temperature of 37 degrees Celsius.

Subscribe to enjoy similar stories. Bitcoin and gold actually have a lot in common. They both straddle the line between assets and currencies.

In India, the fastest-expanding major economy, economic growth quickened to close out 2024 on a pickup in government spending and strong rural-area consumption. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics:

For India, Virat Kohli is set to make his 300th ODI appearance, and he will be eager to make a mark after his match-winning century against Pakistan. Shubman Gill currently leads India’s batting charts in the tournament with 147 runs, while Mohammed Shami has been the standout bowler with five wickets to his name. On the New Zealand side, Tom Latham is leading the run-scoring charts with 173 runs, supported by Rachin Ravindra and Will Young. The Kiwi bowling unit, led by Michael Bracewell and William O'Rourke, has also been effective, each picking up five wickets in the tournament.

John Cena entered the Elimination Chamber as the underdog. At 47, many questioned if he could keep up with younger, hungrier competitors. But Cena thrives on defying expectations, and this night was no different. The match kicked off with Drew McIntyre and Seth Rollins, two rivals who reignited their WrestleMania 40 feud. As the pods unlocked one by one, Damian Priest, CM Punk, and Logan Paul entered the fray. The final entrant, Cena, stormed in with a signature flurry—Attitude Adjustments, Five Knuckle Shuffles, and a roar from the crowd that shook the arena. Eliminations came fast and furious. Priest took out McIntyre, only to be eliminated by Logan Paul, who delivered a jaw-dropping Frog Splash from the top of a pod. Cena and Punk then formed an unexpected alliance, teaming up to take out Rollins with a tribute Hart Attack, paying homage to Bret Hart. But alliances in the Chamber are fleeting. Punk and Cena soon turned on each other, trading submission holds and near-falls.

Manav Sharma, a Senior Process Associate at Tata Consultancy Services (TCS), allegedly died by suicide in Agra on 24 February 2025. A live video recorded before his death surfaced, in which he blamed his wife, Niketa, for pushing him towards the drastic step. His family has accused her of harassment and making divorce difficult for him.

Nifty recorded its worst fall in February since the Covid, falling by 6% while the beginning to March series was equally uninspiring as both headline indices ended Friday, down 1.9%, breaking major support levels. When markets resume trading on Monday, a host of important domestic and global events lined up during the week are likely to impact them. Nifty closed at 22,124.70, lower by 420.35.

India will aim to go into knockouts unbeaten when they face New Zealand in the final group encounter at the ICC Champions Trophy 2025 in Dubai today. Both India and New Zealand have qualified for the semifinals from Group B while Australia and South Africa have made it through from Group B.

As soon as Ukrainian President Volodymyr Zelenskyy stepped out of his motorcade at the West Wing and arrived at the White House, Donald Trump wasted no time mocking his outfit. The tense encounter escalated, resulting in a cancelled lunch, an unsigned economic agreement, and a growing dispute between the two leaders. The whole scene was one of undignified spectacle.

Global Investor Summit 2025, Chief Minister Mohan Yadav announced that the state has received investment proposals totalling ₹30.77 lakh crores. This marks one of the highest amounts ever received by any state in a year. Rajasthan had earlier attracted proposals worth Rs 30 lakh crores in January 2023. However, the real challenge lies in converting these proposals into actual investments. According to a report by SBI, total investments from both the government and private sectors in the country between April and December last year amounted to Rs 32 lakh crores.

GST collections grow 9.1 pc to about Rs 1.84 lakh crore in February. GST collections for January reached Rs 1.96 lakh crore, marking a 12.3% increase compared to the same period last year. In December, GST collections stood at Rs 1.77 lakh crore, reflecting a 7.3% year-on-year rise. This was a slowdown from the 8.5% growth recorded in November, attributed to reduced consumption following the festive season.