Aware Financial News

Subscribe to enjoy similar stories. New Delhi: Steep prices, rotting stocks and cartel concerns - The heartburn that comes with onion harvests every year may become a thing of the past, with the government looking to sign up private firms for efficient storage and transport of the kitchen staple to supplement its own buffer stocks. Selected companies will source and store onions from hubs in Maharashtra, Karnataka and Madhya Pradesh at a pre-agreed price, to be delivered across the country when needed, a person aware of the plans said on the condition of anonymity.

In a concerning development for Georgia, the state’s top poultry producer, avian influenza (bird flu) has been detected at a commercial poultry farm in Elbert County, marking the first such incident since the nationwide outbreak began in 2022. This case is part of a growing wave of bird flu infections, with the virus spreading through millions of wild and domestic birds globally over the past two years. The infected commercial flock, with approximately 45,000 broiler breeders, was quickly quarantined, and all poultry operations within a 6.2-mile radius have been placed under surveillance for at least two weeks.

Subscribe to enjoy similar stories. In a recent statement, L&T chairperson S.N. Subrahmanyan insisted on the necessity of a 90-hour workweek, sparking a whirlwind of criticism and prompting discussions about the ideal number of hours for work.

Subscribe to enjoy similar stories. New Delhi: The Central government may more than double the insurance coverage under its schemes, the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY), in the upcoming budget, two people aware of the matter told Mint. The initiative aims to strengthen financial security, especially for individuals from economically weaker sections, while advancing the vision of 'Insurance for All by 2047,' ensuring comprehensive insurance access for every individual and business in India, the people mentioned above added.

Hospitality startup Oyo has started work on filing its draft red herring prospectus (DRHP) by the first quarter of the new financial year, sources said, marking its third attempt to go public. The impending initial public offering (IPO) is linked to ongoing shareholding restructuring undertaken by founder Ritesh Agarwal.

Saif Ali Khan at his home in Mumbai remains at large despite more than 30 teams on the lookout for him, while a Maharashtra minister ruled out underworld link to the brutal attack. The attacker was not working for any criminal gang and probably was not even aware whose house he had entered, police said on Friday, citing their investigation carried out so far.

fintech startups that offered short-term credit, primarily to office goers, are either discontinuing or scaling back their offerings as the central bank tightens its norms for short-duration unsecured lending, people aware said.

Subscribe to enjoy similar stories. Tight liquidity will not bind the Reserve Bank of India’s (RBI) hands in intervening to curb excessive rupee volatility in the forex market, said a senior official aware of the thinking at the central bank. "Liquidity will be managed and so will excessive currency volatility," he said.

Subscribe to enjoy similar stories. New Delhi: The government may accord industry status to waste management and recycling businesses, two people aware of the development said, amid a push for circular economy. This has been a long-standing demand of the waste management sector, as an industry status helps businesses get easier access to cheaper bank loans.

Subscribe to enjoy similar stories. NEW DELHI : Greenko founders-backed AM Green has partnered with global logistics giant DP World to establish advanced logistics and storage infrastructure in India and overseas, aiming to accelerate exports of green hydrogen and green ammonia.

Leslie Charleson, the renowned actress who portrayed Dr. Monica Quartermaine on General Hospital for nearly five decades, has passed away at the age of 79. The news was confirmed by the show’s executive producer, Frank Valentini, who expressed deep sorrow over her death.

At least three Indian companies plan to raise more than $1 billion combined by selling dollar bonds to international investors this week, people aware of the details said.

NCLT) has approved the merger of Kiranakart Technologies, which operates quick commerce platform Zepto, with its Singaporean affiliate entity Kiranakart Pte Ltd—a move that will help accelerate its initial public offering (IPO) plans in India this year. Zepto’s domicile flip to India will formally complete within the next 30 days, a person aware of the matter said, adding that this was one of the fastest approvals of its kind from the tribunal. “The scheme appears to be fair and reasonable and (it) is not in violation of any provisions of law and is not contrary to public policy,” the Mumbai bench of NCLT observed in its January 9 order.

Ather Energy is set to value itself at as much as $2.4 billion in its upcoming initial public offering (IPO), people briefed on the matter said. That’s a premium of more than 80% over the last funding round in August, when it turned unicorn, they said. Ather is expected to file its updated draft red herring prospectus (DRHP) later this month or the first week of February after sending final clarifications to the Securities and Exchange Board of India (Sebi), said the people. In contrast to the series of new-age businesses’ listings last year that took a cautious approach to valuation, the likes of Ather and Bluestone are likely to price their offerings at a premium, reflecting their own plans as well as the competitive landscape.

Flipkart is in advanced discussions to lead a $35–40 million funding in its fintech venture, Super.money, which for the first time may see external investors also joining the round but with the web-retailer retaining its majority ownership, people in the know of the matter said. Super.money, started by Flipkart senior executive Prakash Sikaria, is among the big focus areas at Flipkart for its financial services and lending business and has emerged as one of the fastest growing Unified Payments Interface (UPI) apps. It surpassed Amazon Pay last month in terms of volume with more than 100 million UPI transactions, as per National Payments Corporation of India (NPCI) data. Super.money is emerging as a rival to payments firms like PhonePe — previously part of the Flipkart group — and others. The Flipkart-led latest funding will set the valuation benchmark for the fintech venture that will be scaled aggressively in 2025.

Subscribe to enjoy similar stories. India may record a fiscal deficit for FY25 at 4.7-4.8% of GDP, below the budgeted estimate of 4.9%, marking yet another step towards fiscal consolidation. The revision is expected to be primarily driven by lower expenditure, notably on planned capital investments, along with higher-than-anticipated dividends from the Reserve Bank of India (RBI), two people aware of the matter said.

Business correspondents (BCs)-who process thousands of crores of rupees daily in domestic remittances-have urged the Reserve Bank of India (RBI) to relax the restrictions it had imposed on monthly and daily transfers 14 years ago, according to people aware of the development. They have written to the RBI, requesting it to double the monthly transfer limit to ₹50,000 and reduce the requirement of a two-factor authentication (2FA) to once a month from it being needed for every transaction now, the people cited earlier told ET. This comes after the BCs complained to the regulator about the misuse of its latest domestic money transfer rules that mandate KYC (know-your-customer) checks of every remitter.

Subscribe to enjoy similar stories. New Delhi: The Parliamentary Standing Committee on Chemicals and Fertilizers reviewed the prices of essential medicines on 7 January in a meeting attended by officials from the Department of Pharmaceuticals (DoP). This move may lead to a lowering of prices of life-saving medicines.

Loan providers and education consultants reported a surge in applications and inquiries, reflecting a growing financial awareness among students and their families. “While education spends have been growing across the entire spectrum of the student lifecycle, overseas education has been one of the sub-segments with significant growth in recent years,” said Amit Gainda, chief executive of Avanse Financial Services (AFS).

Congress aims to reconnect with these traditional supporters, particularly in slum areas. “Minority-dominated constituencies such as Mustafabad, Seelampur, Okhla, Babarpur, Chandni Chowk, Matia Mahal, Ballimaran and Gokulpuri have consistently supported us through the years,” a party official explained. “This explains why we secured substantial votes during the previous assembly and Lok Sabha elections. We have already declared candidates for most of these constituencies to ensure sufficient time for making the constituents aware of our party's guarantees.” The party is emphasizing its commitment to addressing issues affecting these communities, particularly regarding underdeveloped infrastructure and inconsistent water supply in slums. Congress is also targeting constituencies where it received a substantial vote share in the 2020 elections, including Badli, Gandhi Nagar, Kasturba Nagar, Hari Nagar, Seelampur, Jangpura, and Bawana.