Aware Financial News

New Year's Eve and Christmas Eve, about 48 per cent of Indians plan on increasing their travel budget in 2024, according to a report by ACKO in collaboration with YouGov Travel. About 60 per cent of Indians are set to travel to international destinations this year.

NCLAT) to 20 (including the chairman) from the currently-sanctioned 12, a person aware of details told ET. The idea is to expedite the disposal of appeals against adjudicating authorities in cases ranging from insolvency, mergers and acquisitions to antitrust matters at a time when the economy is expanding at a fast pace, highlighting the indispensability of a much robust dispute resolution system, he said. The proposal comes on top of another plan to bolster the number of members at the National Company Law Tribunal (NCLT) to 163 (including its president) from the sanctioned 63, aimed at faster clearances of such cases, he added. “A final decision on these proposals will be taken by the Cabinet. A Cabinet note for this purpose has been floated by the ministry of corporate affairs (MCA),” said the person quoted above. At present, apart from chairman Ashok Bhushan, the NCLAT has two judicial members and six technical ones, according to its website.

digital fraud news. Individuals, both young professionals and retirees, are falling victim to cybercriminals, losing significant sums of money. The promise of quick financial gains has lured many into the web of deception.

Bank of India (RBI) shows that about ₹10.27 trillion was locked in bank deposits in fiscal year 2023. To put this number in perspective, only about ₹1.8 trillion household savings went into mutual funds through systematic investment plans (SIPs) in the same year. Due to RBI’s hawkish stance on retail inflation and the rising retail demand for credit, term deposit rates in India have risen to their highest in the past decade.

Assembly poll results 2023 in three states - Madhya Pradesh, Rajasthan and Chhattisgarh - being a disappointment for the Congress, some rumblings have begun among the constituents of the INDIA opposition bloc ahead of their meeting on December 6, with many leaders alleging that the grand old party ignored others, but was unable to win elections on its own. Some regional parties, including the TMC, AAP, and SP had earlier expressed eagerness for early seat-sharing talks, but the Congress delayed discussions until after assembly polls.

MUMBAI : The Securities Appellate Tribunal has quashed the market regulator’s 2021 order against Reliance Industries Ltd managing director Mukesh Ambani, Navi Mumbai SEZ, and Mumbai SEZ in a case related to alleged manipulative trades in Reliance Petroleum Ltd shares. In January 2021, the Securities and Exchange Board of India imposed a penalty of Rs25 crore on Reliance Industries and Rs15 crore on Ambani. It had also asked Navi Mumbai SEZ to pay a penalty of Rs20 crore.

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A well-known Quebec entrepreneur and philanthropist and his partner are believed to have been found dead in the Caribbean, where they owned a luxury resort, local reports have confirmed.

India by selling its controlling interest in a high-profile, six-year-old joint venture that includes Tata group, HDFC Bank and ICICI Bank. Mathew Cyriac, former PE co-head for Blackstone India, has emerged as frontrunner to buy a controlling 51% in IARC, said people in the know. The exercise values International Asset Reconstruction Company (IARC) at Rs 200 crore, people aware of the proposed deal told ET.

By Krystal Hu and Ira Iosebashvili

Ericsson has signed pacts to lease up to 525,000 square feet of office space from Skootr at the Vatika One on One building in Gurgaon, in one of the biggest managed workspace deals in the country, three people aware of the development said. The company has signed an agreement to lease about 325,000 sq ft for immediate move-in and kept the right of first refusal for another 200,000 sq ft. «Ericsson already has two offices in Gurgaon, and the decision to take a large office with a manager and office space provider has highlighted the demand for managed and flexible space in the country.

Oil India Ltd. However, there is no specification or mandate on how much gas should go to each of the two segments. Under the administered price mechanism (APM), the price of gas from legacy fields is capped, making it cheaper than gas from other fields.

investing principles are simple as evident from the ideas he has penned down for various publications. Mauboussin relies on hidden opportunities to generate profits, often capitalizing on market turbulence and uncertainty. He explained how during periods of market uncertainty, enterprises endowed with option value can find themselves exceptionally well-placed for success.

Murmu also said that investing in girls' education is the most valuable investment in the progress of the country. The president was speaking at the 111th convocation of Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU) as the chief guest.

President Donald Trump on Saturday attempted to turn the tables on his likely rival in November, President Joe Biden, arguing that the man whose election victory Trump tried to overturn is “the destroyer of American democracy." Trump's allegations about Biden, a Democrat, echo the ones that Biden has been making for years against his predecessor. As Trump has dominated the Republican presidential primary and talked about targeting his rivals and the news media if he wins the White House again, Biden has stepped up his own warnings, contending Trump is “ determined to destroy American democracy." On Saturday, Trump made his most explicit argument to date on why voters should instead see his rival as the bigger democratic threat.

education is sweeping small towns across the country, spurring demand for study loans and underscoring the burgeoning ambitions of young Indians. Guntur, Rangareddy, Krishna, Surat, Prakasam, Warangal, Visakhapatnam, Ludhiana, Nellore, Patiala, Amravati, Bijnor, Medak, Ajmer, Bhilwara, Churu, Darjeeling, Mahbubnagar and Nalanda are among towns that have seen the most applications for education loans in 2023, according to lenders whom ET spoke to. As much as 70-72% of the students funded by Avanse Financial Services in 2023 belonged to tier II-III and beyond, said the education-focused nonbanking financial company’s managing director and chief executive, Amit Gainda.

By Vinesh Gupta

Byju's has delayed November salaries for a section of its employees, people aware of the matter told ET, adding this has impacted around 1,000 staffers at the financially beleaguered edtech firm. The company has told the affected employees that it would deposit the pending salaries by Monday, said the people cited above. It has about 14,000 employees in India, excluding subsidiaries like Aakash Institute.

Air pollution can be more fatal than you know. According to a new study, air pollution causes more than 2 million deaths annually in India. Air pollution, which is worsened by emissions from vehicles, incessant burning of fossil fuels, power generation etc, along with the bursting of crackers during Diwali have all played a huge role in worsening the AQI (Air Quality Index). According to reports, many areas in and around Delhi NCR, crossed 400 after Diwali. Every year, National Pollution Control Day is observed on December 2, to spread awareness on pollution levels and how we contribute to those.

Climate advocacy groups are pressuring world governments gathered at this year's United Nation's COP28 climate conference in Dubai to commit to cutting global food sector emissions, as the conference host promises to put agriculture in the spotlight. Global food systems- including farming and land use, livestock production, household food consumption and waste, and energy used in the farm and food retail sectors — account for 31% of human-made greenhouse gas (GHG) emissions, according to the United Nations' Food and Agriculture Organization (FAO). But few governments have ever published numeric targets for lowering those emissions, focusing instead mostly on the use of fossil fuels for power, transport and industry, according to climate advocates. «Business as usual food systems would use nearly the whole carbon budget for a 2-degree Celsius world. We need to implement food systems approaches throughout COP28,» said Joao Campari, global leader of food practice at the World Wildlife Fund. A full day of the 28th Conference of the Parties (COP), Dec.

LCH has reached out to Indian banks and informed them that it has fulfilled necessary conditions mandated by the Reserve Bank of India to function as a qualifying central counterparty (QCCP) for offshore derivatives trades. In a development that could ease banks' capital requirements for offshore non-deliverable forwards (NDF) trades, LCH has said to banks that it has complied with norms prescribed by the RBI for QCCPs, sources aware of the development told ET. The LCH is one of the largest players in the global interest rate swap market. «The LCH has referred to an RBI circular and informed banks that they have met the requirements.