Awards Financial News

gold loans from banks grew more than 50% over the last one year, while all other major personal loan segments saw moderate increase amid tepid consumer demand, high inflation and tighter regulatory oversight on unsecured lending, according to latest data from Reserve Bank of India. «Consumption moderated with elevated borrowing costs and inflation eating into household budgets,» said Crisil's chief economist Dharmakirti Joshi. Growth in gold loans, or bank loans against gold jewellery--mostly taken at times of distress or during emergencies-- though make good business sense, may not reflect a happy situation from borrowers' perspective, a senior banker said.

GST collection rose 8.5 per cent to Rs 1.82 lakh crore in November, government revealed on Sunday. In October, Gross GST collection in October rose 9 per cent to over Rs 1.87 lakh crore, the second-highest ever, on pick-up in domestic sales and improved compliance.

Hyundai Motor India on Sunday said its total sales declined 7 per cent year-on-year to 61,252 units in November. The automaker had dispatched 65,801 units to its dealers in November last year, the automaker said in a statement.

Indian tycoon Gautam Adani says his conglomerate is committed to “world-class regulatory compliance" after being indicted in the U.S. on fraud charges and an alleged bribery scheme worth millions of dollars, his first remarks since the accusations surf...

Following the decision of the state government, police have intensified surveillance at inter-state borders to prevent the transportation of potatoes out of the state. This has led to several trucks being stranded at border crossings. «We will go on strike from Tuesday if the government does not lift the restrictions,» Progressive Potato Traders' Association secretary Lalu Mukherjee told PTI.

Toyota Kirloskar Motor (TKM) on Sunday said its total sales rose 44 per cent year-on-year to 25,586 units in November. The automaker had sold 17,818 units in November last year. «Our diverse portfolio, spanning from hatchbacks to SUVs, continues to offer tailored mobility solutions that resonate with varying lifestyles,» TKM Vice President, Sales-Service-Used Car Business Sabari Manohar said in a statement. The year 2024 has exceeded the company's expectations, he said.

Pradhan Mantri Gram Sadak Yojana (PMGSY) over the past two decades in Jammu and Kashmir, officials said on Sunday. The information was given at a meeting chaired by Joint Secretary, Ministry of Rural Development, Amit Shukla here to conduct a comprehensive review of the implementation of the PMGSY in the Union territory. The review focused on expediting project completion, ensuring adherence to quality standards and enhancing rural connectivity across the region, the officials said. The PMGSY was launched in Jammu and Kashmir during 2001-02 with the aim to provide all-weather connectivity to unconnected habitations in rural areas with a population of more than 250 as per the 2001 Census.

However, the price of 14.2 kg domestic LPG cylinders remains unchanged. Last month, the price of the 19 kg commercial LPG cylinder was raised by Rs 62. This latest price hike is expected to impact commercial establishments and small businesses, such as restaurants and hotels, that rely on LPG for their daily operations. The increase comes amid fluctuating global market conditions, which have influenced fuel price adjustments.

USD 656.582 billion in the week that ended on November 22, data from the Reserve Bank of India (RBI) showed. The forex reserves dropped by about USD 1.310 billion in the reporting week. The reserves have been falling ever since it touched all-time high of USD 704.89 billion in September. The reserves have been declining likely due to RBI intervention aimed at preventing a sharp depreciation of the Rupee. A substantial foreign exchange reserve buffer helps shield domestic economic activity from global shocks.

CBS announced the conclusion of its daytime talk show, The Talk, after 15 successful seasons. The show’s final episode will air on December 20, 2024.

Jennifer Lopez discussed her journey as a Latina actress and the importance of maintaining a positive attitude in a recent interview with Variety’s Awards Circuit podcast, reported Complex. According to Complex, she eventually acknowledged the slow pace of change in Hollywood regarding representation but eventually emphasized on the need to focus on progress rather than setbacks. Jennifer Lopez who has always supported Kamala Harris actually urged artists to use their voices and art to spread love and positivity. Reflecting on her early career, Jennifer Lopez noted the limited roles available for Latinas which are often confined to stereotypes, asserted Complex. She expressed pride in her current status as a leading actress in romantic comedies while stating, ‘I’m just a romantic girl too just like any other girl’.

Lomani Amitabh B Pour Homme Perfume sells on Amazon for Rs 1,299 for a 100 ml pack. Legend 1942 also sells an Amitabh Bachchan range of men’s perfumes—Heritage White and Flamboyance Black. The price is steeper at Rs 3,750 for a 100 ml bottle. The “1942” in the brand name, in case you did not make the connection, is Bachchan’s year of birth. A new range was launched a couple of years ago, on his 80th birthday. Unfortunately, the perfumes don’t seem to be anywhere close to being the hot sellers that one would expect from Big B. They exist, but without much fanfare or franchise —a pale shadow of the legend they represent. I visited Nueva, Virat Kohli’s restaurant in Delhi. It was nice but it wasn’t exceptional. There is also One8 Commune now open in multiple locations. I have read mixed reviews of the restaurant, and those that have been there have provided only lukewarm feedback.

Adani Group side has been charged with any violation of the Foreign Corrupt Practices Act (FCPA), or any conspiracy to obstruct justice, Gautam Adani said on Saturday. He was speaking at an award ceremony in Jaipur. This is the first time that the billionaire founder of the Adani Group has spoken since the US Department of Justice and the US SEC levied charges of bribery among others, on certain executives of the group, including him on November 21. “This is not the first time we have faced such challenges,” he said at the award function. “What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone for a more resilient Adani Group,” he said.

State Bank of India (SBI) on Saturday said it has launched a nation-wide drive to raise awareness about the importance of inoperative account activation. A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years. Activation of these accounts requires Re-KYC. Necessity of regular transactions in the account and preventing categorization into in-operative was the key message, SBI said in a statement.

Knight Frank India. As many as 9,736 units were registered during November 2023. In a statement on Saturday, real estate consultant Knight Frank India said that Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 10,216 property registrations in November 2024. The data is as of 8 pm on Saturday. The number might increase slightly.

Gautam Adani responded by saying that this is not the first time the company has faced such challeneges and every attack made us stronger. «We had our successes, our challenges were even bigger. These challenges have not broken us. They made us tougher. We will rise stronger, said Adani while addressing the 51st Gem & Jewellery Awards, Jaipur. „Less than 2 weeks back, we faced allegations from the US. This is not the first time we faced such challenges. What I can tell you is that every attack makes us stronger,“ said Adani. U.S. authorities accused Adani, 62, his nephew and executive director Sagar Adani and managing director of Adani Green, Vneet S. Jaain, of being part of a scheme to pay bribes of $265 million to secure Indian solar power supply contracts, and misleading U.S. investors during fund raises there.

Congratulations to Citadel, which is not only your ideal hedge fund to work for, but has won the“hedge fund of the year” award from Risk magazine. And congratulations to Citadel's Chief Risk Officer, Joanna Welsh, who has done a lot of the heavy lifting for them this year. (Literally as well as figuratively – she was once a powerlifter in her spare time).

Stacey Macken, the former product manager in BNP Paribas' prime broking division, is no longer employed by the bank. Nonetheless, she is still earning good money. As we noted in September, Macken was awarded £177k ($223k) a year for 15 years as part of the £2.1m settlement of her 2021 gender discrimination claim against the French bank.

GST on insurance premiums and no further hike in foreign direct investment in the sector. Addressing a conference of the All India Life Insurance Employees' Federation (AINLIEF), general secretary V Narasimhan said it will be approaching MPs from all political parties to voice support for the demands. The All India Triennial General Conference here is being attended by delegates from across the country. The federation's demands also include withdrawal of the new labour codes and introduction of the old pension scheme for employees recruited in LIC after 2010.

track slab manufacturing factory has been established near Surat to support India's first bullet train project, marking a major milestone in the country's high-speed rail infrastructure, an official release said on Saturday. The factory is designed to produce high-capacity ballastless track slabs using advanced Shinkansen technology, the release added. Located in Kim village the the project site ensures efficient logistics for the bullet train construction and timely delivery of track slabs.

Gold Loans: Bank loans secured by gold jewelry have seen a dramatic 50.4% increase in the first seven months of this fiscal year, ending October 18, 2024. This surge contrasts sharply with other personal loan categories, which experienced single-digit growth, according to Reserve Bank of India (RBI) data. Total outstanding gold loans reached Rs 1,54,282 crore by October 18, up from Rs 1,02,562 crore in March 2024. This represents a 56% year-on-year increase, compared to 13% in October 2023. Bankers attribute this rise to multiple factors, including borrowers moving from non-banking financial companies (NBFCs) to banks and a preference for secured loans over unsecured options. Bank loans to NBFCs have decreased by 0.7% to Rs 1.5 lakh crore during the same period.