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«But all in all, I think it is something that in this business it happens from time to time. We are well positioned to handle this situation and our response being done quickly is one of the important guidelines that we have shown that we are aware of this, we are well entrenched in this business and our ability to react is very important,» says Ittira Davis, MD & CEO, Ujjivan SFB. You have cut the loan growth guidance for FY25 and if we understand correctly, that is largely on the back of the concerns in the MFI segment. Can you just clarify and elaborate as to what is the reason for the same? Ittira Davis: Yes, we have revised the guidelines and the guidance on Friday and that is, as you rightly said, primarily due to the microfinance portfolio and the stress that we have seen in pockets across the country and we feel that that stress will prevail for part of this year and therefore the credit cost has been moved up to 1.7% from a higher range of 1.5.

Supreme Court reprimanded the Delhi government over the illegal felling of 1,100 trees in South Delhi's Reserve Forest Area without permission, Delhi's government has taken a firm stand on the issue. In response to the illegal felling of 1,100 trees in South Delhi's Reserve Forest Area without Supreme Court permission, Delhi's government has taken a firm stand, the Environment Ministry said in a press release. «Concerned about the significant environmental damage, Environment and Forest Minister Gopal Rai held an urgent meeting with Forest Department officials on Wednesday, demanding all relevant records and a status report on actions taken so far. The Forest Department has been instructed to provide this information by 11 am on Thursday.,» an official release stated.

₹15,000-crore viability gap funding (VGF) plan for companies to shift to greener vessels for inland water transport over the next 10 years, said two persons aware of the development. “The concept of VGF and other incentives for turning Indian maritime segment green is under formulation and consideration," one of the people cited above said on condition of anonymity, adding that the Inland Waterway Development Council (IWDC) is working on finalizing the scheme for this green transition, which would be similar to the FAME scheme for promotion of green automobiles.

Ecom Express is looking to enter the primary market with a Rs 3,000 crore initial public offering (IPO), according to two people aware of the development. The third-party logistics company has appointed bankers such as Kotak Capital, IIFL, Axis Capital, and UBS, according to one of the sources. «Ecom Express has initiated the process for the public issue, which includes both a fresh issue and an offer for sale from the existing investors. The company is likely to file its draft red herring prospectus soon,» said one of the people cited above.

1mg has secured board approval for a major offline expansion to be financed through debt, while the group’s egrocer, BigBasket, will go for an equity and debt mix of $80-100 million, multiple people aware of the plans said. The two biggest assets at Tata Digital will increase reliance on debt capital to fuel expansion this financial year after parent Tata Sons’ nudge, they said. This is a significant change in stance for the salt-to-software conglomerate that has deployed over $2 billion over the past two years into superapp Neu and the businesses on it.

NEW DELHI : The Union budget in July is likely to restore the concessional 15% corporate tax rate for new manufacturing facilities, a scheme introduced in 2019 that expired on 31 March this year, two persons aware of the matter said. The plan now is to extend this scheme by one to two years to facilitate fresh manufacturing investment, which is a priority for the National Democratic Alliance (NDA) government, one of the two persons cited above said on condition of anonymity. The Centre wants to give a strong thrust to the manufacturing sector as it could generate well-paid employment to a large number of people currently engaged in low-paid farm activities.

GST Intelligence (DGGI) has sent fresh summons to online gaming companies, including Delta Corp, seeking details of the cashback given to the players from October onwards. The agency detected reimbursements of taxed money back to players as cashback in a separate promo account by online gaming companies post implementation of the 28% GST (goods and services tax) on the full entry level betting amount. The DGGI Gurgaon has sent summons for a period between October 2023 and June 15, 2024, ET has learnt.

Federal food safety regulators are warning Bimbo Bakeries USA to stop using misleading labels that say products contain potentially dangerous allergens when they don't

Amit Shah on Wednesday hailed Speaker Om Birla for moving a resolution in Lok Sabha condemning the imposition of Emergency in 1975 by former prime minister Indira Gandhi and said it has exposed the «anti-democratic» thinking of the Congress which harmed the major pillars of democracy like «judiciary, bureaucracy and media». Shah also said that Lok Sabha remembered the Emergency, which was an «Era of Injustice» and expressed its sympathy to the poor, Dalits and backward people, who had to suffer the exploitation and atrocities of the then Indira Gandhi government, when the rights of the citizens of the country were destroyed and their freedom was snatched away. The home minister said many sensitive amendments made in the Constitution during the dark period of Emergency expose the dictatorial mentality of the Congress which centralised all powers in one person. «It (resolution) has exposed the anti-democratic thinking of the Congress which has harmed the major pillars like judiciary, bureaucracy and media, has condemned the cruelty of Congress in imprisoning lakhs of opposition leaders for more than one and a half year without any reason,» Shah wrote in a post on X in Hindi with hashtag #EmergencyHorrors.

Samsung Galaxy Watch 6 vs OnePlus Watch 2 comparison: Which Wear OS smartwatch to buy? The Samsung Galaxy Watch4 Classic LTE (4.6cm, Black) is specifically designed for Android smartphones, running on Wear OS Powered by Samsung. It features a Bioelectrical Impedance Analysis Sensor for body composition analysis and an Optical Heart Rate Sensor.

We are all familiar with the fact that investing in tax-saving avenues such as life insurance, NPS, PPF, ELSS, Sukanya Samriddhi Scheme, NSC, among others, is necessary to save tax. However, not many of us are aware of the different tax provisions that can help us reduce our tax liability without making any investments.

Anil Agarwal's Vedanta Resources is likely to sell a minority stake in Vedanta Ltd this week through block deals, people aware of the development said. The promoter group is likely to sell a stake of about 2.5%, or 90 million shares, to raise ₹4,000 crore through the transactions, said one of the persons. The sale is likely to happen at a discount of around 8-10%, one of the persons said. It will help Vedanta Resources repay debt due for payment in the next few months, one of them said.

Quant’s offices in Mumbai and Hyderabad on 21 June for a search and seizure operation triggered by suspicion of front-running by Quant’s employees. “Look around you. Do you see any disruption? We are all carrying on our usual work," said Tandon when this reporter visited the Quant MF office in Mumbai.

Rashid Khan was seen brewing in anger and threw his bat at his partner Karim Janat for not taking the second run.Internet users have responded to this incident, with some suggesting he should improve his anger management skills, while others expressed support for his response.“With great power comes great responsibilities. He must learn to control his anger."“Rashid Khan should have controlled his anger... Threw the bat at his partner."Some other said, “He literally scored 19 of 10 when others can’t play run a ball.

Flipkart explored a potential stake purchase in Swiggy about eight to ten months ago as two of India’s largest consumer internet firms sought to ally amid disruption set off by the rise of quick commerce, investors aware of the matter said. Once the talks fizzled out due to a valuation mismatch, Swiggy filed a confidential draft application in April to list on the public markets, they added. Also present at the negotiations was Prosus—the largest investor in Swiggy with a 33% stake—which was keen to divest some of its holding, the sources said.

Charles Schwab’s division that focuses on increasing giving in the U.S. has reached a milestone 25 year anniversary – and is changing its name.

Quant Mutual Fund (MF), currently under Sebi’s scrutiny for a suspected front-running case, indicated that it would require 28 days to liquidate 50% of its smallcap portfolio, as per stress test results released by the AMC. For liquidating 25% of its portfolio, the smallcap fund would need 14 days. In the case of Quant Mid Cap Fund, it would require 9 days to liquidate 50% of its portfolio and 5 days to liquidate 25%. According to the stress test results from the fund house, the trailing 12-month PE ratio for the midcap fund benchmark has risen above its levels from one year ago and two years ago. For the smallcap index, the trailing 12-month PE ratio is higher than it was one year ago and close to its level from two years ago.

Quant Mutual Fund got its MF license from the markets regulator in 2017 and is the fastest-growing mutual fund in the country with over ₹90,000 crore of assets under management (AUM).Issuing a clarification, the company said it is “fully committed to co-operate with the regulator" and "will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis".Front-running is an illegal practice where fund managers or, dealers or brokers, who are aware of upcoming large trades, place their own orders beforehand to profit from the anticipated price movement when the large trade is executed.Amid this, we take a look at all you need to know about Quant Mutual Fund. According to the official website, the financial services business emerged "in the midst" of the 2008 global financial crisis.

Encounters with terrorists in Jammu and Kashmir have led to the seizure of highly encrypted Chinese telecom gear "Ultra Set", an equipment used by the Pakistani army that has ended up in the hands of terror groups, officials said. This has also raised concerns over undetected infiltrations from across the Line of Control and terrorists potentially residing in the outskirts of cities and villages, they said. The seizure of the mobile handsets used by foreign terrorists, primarily from Pakistan and its occupied Kashmir, indicate that terror groups are receiving training, weapons and ammunition from state actors in Pakistan, said the officials aware of the matter.

capital investment, increased allocations for rural schemes and a boost for housing programmes at their pre-budget meeting with finance minister Nirmala Sitharaman on Saturday. The full budget for FY25 is expected next month. Sitharaman underlined the Centre’s support to states through timely tax devolution and release of GST compensation arrears to stimulate growth, while nudging them to undertake reforms to gain maximum advantage from 50-year interest-free loans. The states also suggested higher assistance be provided to combat disasters and climate change, officials aware of the discussion told ET. Andhra Pradesh asked for central funds for the development of Amaravati as its capital, fresh funds and the clearance of arrears for Polavaram irrigation project and cheap power tariffs among other demands. “There was no demand on special package by any state,” an official told ET. The Telugu Desam Party, support of which is key to the NDA’s majority in Parliament, has just taken over in Andhra Pradesh.

Winners of six critical mineral blocks under the first round of auctions will be announced on Monday. The preferred bidder for the hotly contested Katghora block will be among those being unveiled, making it India’s first lithium and rare earth element (REE) mine. This bid round was launched on November 23 last year with 20 mines. But auctions for 14 of these blocks was annulled citing tepid response. Another 18 blocks were to be auctioned in the second round but bids for 14 have been scrapped due to the poor response. According to officials aware of the first round of bids, blocks holding phosphorite and fertiliser minerals have got 5-6 bids per mine. The lithium block in Chhattisgarh has got more than 10 bids while graphite mines have 4-5 bidders per block.