Aware Financial News

NEW DELHI : The tender to set up the first green hydrogen plant of state-run oil refiner and marketer Indian Oil Corp. Ltd (IOCL) received one bid till the 29 November deadline, people aware of the development said. The bid came from GH4India Pvt.

NEW DELHI : The government is in the final stages of creating special purpose vehicles for the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks to boost the textile sector. All formalities to establish SPVs will conclude early next year, two officials aware of the development said.

NEW DELHI : The central government’s revamped fund transfer mode for state agencies executing centrally-sponsored schemes (CSS) is helping the Centre save interest costs, and ensuring timely funds for executing agencies. That apart, it also ensures transaction data is made available directly to policymakers at the ground level, a person aware of the impact of executing the new mode, said.

farmers are cultivating climate resilient wheat varieties which has been sown in more than 60 per cent of the planted area of 30.86 million hectares so far, according to agriculture commissioner P K Singh. Wheat is the main rabi (winter) crop, sowing of which normally begins in November and harvesting is done from March-April. As per the agriculture ministry data, wheat sown area stood at 30.86 million hectares till December 22 of the ongoing rabi season, slightly lower than 31.44 million hectares in the year-ago period.

MD and CEO, sources aware of the matter said. The Reserve Bank of India (RBI) has already approved the appointment and Kalra has assumed office as well.

Loan application rejections can stem from various factors. Commonly, inconsistencies or delays in debt payments stand out as primary reasons. Additionally, lack of awareness about how a negative credit history impacts loan approvals can lead to rejections. If you’ve recently faced rejection, it’s crucial to understand the causes and take corrective action.

Reserve Bank of India (RBI) is in talks with banks and the government for more stringent measures to ensure that banking channels are not misused for illegal forex trading. In a letter to all stakeholders last month, the RBI sought suggestions on the matter and also urged them to create greater public awareness. Earlier this year, the Directorate of Enforcement arrested two businessmen in connection with illegal activity. 75 entities in alert list so far The investigations revealed that the Kolkata-based accused controlled and managed 180 bank accounts, from which Rs 120 crore was seized. «There would be far more scrutiny by banks on account holders making forex transactions on non-authorised platforms, including apps,» said one of the officials who didn't want to be named.

alternative investment funds (AIFs) in India have put their cards on the table. A fund lobby has told RBI it would accept a directive that forces lenders which have used AIFs to 'evergreen' loans to slash exposure to 10% of a fund corpus within six months from the date of RBI's circular. It has also mooted a limit on investment by a non-banking finance company (NBFC) in an AIF.

NEW DELHI : The price stabilization fund (PSF), established to build buffer stocks of farm commodities to help contain sudden rise in food prices, may get additional allocations in the 2024-25 and 2025-26 budgets of ₹1,500 crore each. The department of consumer affairs (DoCA) has placed a proposal for the allocations before the expenditure finance committee (EFC), government officials aware of the matter said.

NEW DELHI : As the government looks to bring electricity under goods and services tax (GST), the Union power ministry is looking at its likely impact on the industry, states’ revenue and household electricity bills. Electricity is one of several commodities like petrol, diesel and natural gas that have so far remained out of the purview of GST. Audit and consulting firm Deloitte, which was appointed to analyse the impact of the move, submitted a report to the power ministry that showed the move would benefit industry by lowering its outgo in levies.

NEW DELHI : Spain is pushing for a high level visit from its Prime Minister to India in 2024 according to people aware of the matter. The focus of both countries will be on deepening defence ties and inking migration and mobility agreements. The move comes after Spain’s Prime Minister Pedro Sanchez missed the G20 Leaders Summit in Delhi in September due to a positive covid diagnosis.

NEW DELHI : Vivo India’s interim chief executive officer (CEO) Hong Xuquan, chief financial officer Harinder Dahiya and consultant Hemant Munjal were arrested by Enforcement Directorate (ED) on charges of money laundering and remanded to custody by a sessions judge in Patiala House Court for three days. The order was issued on the grounds that the executives held critical positions, played a crucial role in acquiring ₹20,241 crore as proceeds of crime, and that the executives were not cooperating with the authorities. Interim CEO Hong Xuquan was cited as a witness in the previous complaint filed by the enforcement body earlier this month.

ALSO READ: RBI imposes monetary penalty on five co-operative banks. Details here Some even turned to experts for guidance and that is how training on compliance gained momentum in 2023.

However, for those in Sacramento, Stockton, Modesto, or Roseville eyeing a visit to Walmart, meticulous planning is essential. The retail giant has specific holiday hours, ensuring closure on Christmas and shortened hours on Christmas Eve, with most stores wrapping up by 6 p.m.

growth while over 20,000 sellers witnessed a 10-times jump in their business on Softbank-backed e-commerce firm Meesho, the company said on Sunday. Meesho is the first unicorn e-commerce firm to have reported profit this year and it claims to have maintained the profitability since it first reported the performance in July. The company claimed that nearly 10,000 Meesho sellers crossed the Rs 1 crore sales mark and 130,000 registered sales of over Rs 1 lakh during 2023.

Meesho, the company said on Sunday. Meesho reported a profit this year and claims to have maintained the profitability since it first reported the performance in July.

India vs South Africa, 1st Test: In a major relief for Team India, star batter Virat Kohli has rejoined that Indian squad ahead of the first Test match against South Africa in Centurion. Earlier, it was reported that Virat Kohli had to leave South Africa due to some emergency, but the BCCI sources have revealed that Kohli was on a pre-planned London trip and is back in South Africa. “Virat Kohli wasn't going to play that game.

₹49 trillion in November, led by impressive growth in equity funds amid bullish market sentiment and strong inflows. Equity assets (including index funds) in November were up 32.3% from a year earlier. Since January, equity-oriented schemes have seen net inflows of ₹1.4 trillion, a tad lower than ₹1.5 trillion in the same period a year ago.

Indian Institute of Entrepreneurship has been assigned the responsibility of establishing Entrepreneurship Development Centers in all the 104 government Industrial Training Institutes (ITI) and three National Skill Training Institutes (NSTI) of the Northeastern Region by the Ministry of Skill Development and Entrepreneurship under the Flagship Central Sector Scheme of Government of India “Skill Strengthening for Industrial Value Enhancement” (STRIVE). IIE will be implementing the project in all eight states of NER. The project is aimed at creating a pool of 107 trained mentors who shall operate from ITIs and NSTIs of the region and will be acting as the “Change Agents” to drive the entrepreneurial movement amongst the youth of ITIs and NSTIs. The project is targeting 29,500 enrolled students of ITIs and NSTIs from across all 8 states of NER, who will initially undergo ‘Two Days of Entrepreneurship Awareness Program’ (EAP) in the first stage.

financial awareness sessions and by providing access to various financial tools and, in some cases, trustworthy financial advisors. P&G India, NetApp, MG Motor and Dell Technologies are among organisations enhancing their employee wellbeing offerings to include financial wellness and awareness.

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