Aware Financial News

UK Home Secretary Suella Braverman's hard line speech that tough action needs to be taken to stop migration. “It's likely that Braverman is aware of the role immigration plays in sustaining the UK economy and fulfilling skill gaps, making her remarks noteworthy for not only political observers; but also stakeholders concerned with immigration's role in the UK's future. This is considering the country is grappling with with a labour shortfall in various sectors, " said Yash Dubal, A Y & J Solicitors, London, United Kingdom.

SAT) has set aside the Securities and Exchange Board of India's order against Cairn India, now part of Vedanta Ltd, over alleged violation of buyback rules. The tribunal set aside a fine of ₹5.25 crore imposed on Cairn India for allegedly making a misleading public announcement of the buyback of shares on January 14, 2014. «The company could not have foreseen or predicted that the stock markets would witness this bullish trend at the time when the decision for going for a buyback was taken nor could the company be aware at the time of making the public announcement that the traded price of the scrip would be above the maximum buyback price on 68 days out of 123 trading days,» SAT said in its order on Thursday. It also set aside a penalty of ₹15 lakh each Sebi had imposed on P Elango, then CEO and a director of Cairn, and two other directors: Aman Mehta and Neerja Sharma.

Sebi), which has stepped up efforts to develop municipal bond issuances, recently brought together stakeholders in the country's nascent civic debt market and urged them to raise money using this route to offer better infrastructure to citizens. According to sources, Sebi held a two-day outreach programme on municipal bonds and financing during October 3-4 at Jaipur with officials from the ministry of housing and urban affairs, the finance ministry, municipal corporations, stock exchanges, credit rating firms, merchant bankers, debenture trustees, lawyers, and institutional investors. Ashwani Bhatia, whole-time member, Sebi, delivered the keynote address, highlighting how municipal bodies could use funds raised through bond issuances for infrastructure development, sources said. Pointing out the smaller scale of the municipal bond market vis-a-vis the government bond market or global civic debt markets, Bhatia emphasised the potential for municipalities to improve infrastructure while being fiscally responsible, they said. Thara D, additional secretary of the housing ministry, said that the government would support municipal corporations wishing to access debt markets for funds, while Baldeo Purushartha, joint secretary, department of economic affairs from the finance ministry urged civic bodies to identify viable projects and plan for sustainable development. Sebi officials raised awareness about an information database run by the market regulator, pointing out that the platform includes a repository of data on municipal bonds.

funds linked to the JP Morgan emerging market bond index that now features India are actively managed, implying the impact of overseas flows could be felt as early as December when global investors decide fresh allocations for the next calendar year. In recent conversations with market participants, JP Morgan's index managers have said that around 75% of the assets under management (AUM) linked to the bond indices are 'active', and that the total AUM tracking the platforms could be more than $300 billion, sources aware of the matter told ET. «With active funds being 75% of more than the $300 billion-AUM tracking the JP Morgan index, pre-positioning could start from December 2023 to March 2024 itself as long as foreign portfolio investors (FPIs) are registered here.

Eastern Command of the Indian Army will host a Mega Defence Event East Tech 2023, showcasing the latest in defence technology in Guwahati on 10th and 11th October, the first such event in the state. It is an initiative to identify cutting-edge technologies needed for solving operational challenges in the Eastern Sector and the Indian Army as a whole. As per the official statement, the aim of the event is to facilitate Eastern Command in meeting its operational challenges by incorporating contemporary indigenous technology. In the true spirit of 'Atma Nirbhar Bharat', the event strives to engage a large number of Indian Manufacturers including MSMEs, DRDO, DPSUs, R&D Organisations and Academia, to showcase their latest and the most advanced weapon & equipment technology at the event. It is also an initiative to promote and provide a platform to various start-ups and major players of the defence Industries belonging to Assam and other North Eastern States to showcase their latest innovations in the defence sector. The two-day-event cum demonstration is being carried out for the first time in the entire North East Region.

Click here! Given the increasing trend in the number of unclaimed deposits, the RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter, the RBI had said in a statement. The web portal will aid users to identify their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.

Bank of India launched a Centralised Web Portal called UDGAM (Unclaimed Deposits — Gateway to Access information) to help and make it simpler for people to search for their unclaimed deposits across different banks at one location. The UDGAM portal was launched in August 2023. Also read: UDGAM RBI portal link: How to register, check unclaimed savings account, FD money in these seven banks Initially, the search feature was initially made available on the portal for seven banks, and it was announced to the public that it will be gradually made available for the remaining institutions by October 15, 2023. Now, the RBI has updated the UDGAM portal with a total of 30 banks. According to the RBI press release dated, “The search facility was initially made available on the portal for seven banks and it was intimated to public that the search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023. The members of public are hereby informed that, the search facility for 30 banks has been made available on the portal on September 28, 2023, which covers around 90% of such unclaimed deposits (in value terms) in Depositor Education and Awareness (DEA) Fund.”

Click here! "We understand there is a policy change and everybody wants a change that will be beneficial for them. That will be there. If we say special groups are discriminatory ...

Kota, known for its coaching hubs preparing students for engineering and medical entrance exams, has witnessed a rising number of student suicides in 2023. These guidelines, based on the principle of «Every Child Matters,» are currently open for public feedback and provide clear directions for schools to improve their handling of self-harm cases. The proposed measures include the establishment of a School Wellness Team (SWT) responsible for identifying students displaying warning signs and those at risk of self-harm, responding promptly to their needs, and providing support. The guidelines also stress the importance of fostering partnerships among schools, parents, and the community to create a robust support network aimed at preventing suicide and reducing the stigma associated with suicidal behavior. Furthermore, the draft guidelines advocate for the elimination of harmful concepts, such as comparing students with their peers, perceiving failure as permanent, and solely equating success with academic performance.

State Bank of India (SBI), has been extended till August 2024, news agency Reuters reported on October 5, citing government sources who are privy to the development. Khara's current tenure was scheduled to conclude on October 7. As per the persons aware of the matter, the SBI chief has been asked to continue till he attains the age of 63, in August next year.

Life Certificates now, the process started on October 1. There is a special provision for pensioners aged 80 years and above to submit their life certificates in October. A pensioner can either submit the certificate physically, by visiting banks, post offices, or online.

Karnataka has floated an expression of interest (EoI) for empanelling agencies to set up an Information Disorder Tackling Unit (IDTU) for the state government. IT/BT Minister Priyank Kharge posted on social media platform X that the state government was serious about tackling misinformation, disinformation, malinformation and fake news. The government has set October 16 as the last day for submission of proposals for the project.

₹12,600 crore. To be built at a cost of about ₹100 crore in Jabalpur, the ‘Veerangana Rani Durgavati Smarak aur Udyaan’ will be spread over nearly 21 acres.

MUMBAI : The founders of Great Learning are trying to line up investors to buy back the online education provider from Byju’s, two people aware of the discussions said. The management buyback will allow the founders to continue to run the firm and receive equity payouts in return. The proposed buyback follows Byju’s efforts to monetize some of its assets to repay its lenders.

MUMBAI : ShareChat, the short-video platform backed by Google Llc, is seeking fresh investments that would value the social-media company at $2.2 billion, marking a 55% drop from the valuation it secured last year, two people aware of the development said. “The company is looking at a bridge round of around $40-50 million in primary capital," said one of the people mentioned above. However, a third person close to the founder said it would be a growth equity round as the company is getting closer to breaking even.

MUMBAI : The Securities and Exchange Board of India (Sebi) on Wednesday said it is statutorily empowered to lift the corporate veil and find out the truth whenever the interests of the investors are affected or likely to be affected. Sebi’s comments came while arguing in the Bombay Dyeing matter before the Securities Appellate Tribunal (SAT). A bench led by Justice Tarun Agarwala was hearing Bombay Dyeing’s petition challenging Sebi’s October 2022 order against the company.

Peyush Bansal, co-founder and CEO of eyewear retailer Lenskart, has purchased a property in Delhi’s Neeti Bagh for Rs 18 crore, two people aware of the transaction said. Bansal has acquired the basement and ground floor of the 813-square-yard property and paid Rs 1.08 crore in stamp duty and corporation taxes, as per documents accessed through the data analytics firm CRE Matrix. Last year, Neha Bansal, co-founder of Lenskart and Peyush’s sister, purchased a 400-square-yard bungalow in Delhi’s Greater Kailash for Rs 22 crore. “A South Delhi based builder bought the other three floors along with the terrace for about Rs 35 crore in two separate transactions. He will probably redevelop the property and sell the floors individually.

Reliance Industries Ltd (RIL) is set to disrupt India’s fledgling market for electric vehicle chargers by launching its own range of EV chargers and removable batteries. The company expects that battery swapping will help reduce the upfront and operating costs of electric vehicles, crucial for its widespread adoption in India, one of the world’s largest automobile markets. The Mukesh Ambani-led conglomerate is looking to tap into the entire ecosystem of EVs ranging from cells and batteries to charging and battery swapping as it seeks to “democratize EVs and make them more affordable,” a company executive said requesting anonymity as he was not authorized to speak to the media. As part of the plan, RIL has developed a removable lithium-ion battery that can power an electric scooter, electric three-wheeler and a light commercial vehicle, besides lighting up homes during a power outage. The batteries can be changed at RIL's battery swapping stations or re-charged by households using rooftop solar panels, which it also plans to sell.

The PEPE price has dropped by 3% in the past 24 hours, with the meme token's fall to $0.000000719755 coming as the cryptocurrency market continues to weather losses incurred yesterday.

Today, October 4, is World Financial Planning Day. This is an initiative of the International Organization of Securities Commissions (IOSCO). World Financial Planning Day is observed to help raise awareness of the importance of financial planning. Besides being aware, it is very important for everyone to be financially independent. 

₹3 lakh. He was caught in South Delhi. Along with him, Mohammad Rizwan Ashraf and Mohammad Arshad Warsi were also arrested.