Centre Financial News

web platforms of foreign cryptocurrency exchanges and virtual digital asset service providers such as Binance, Kucoin and OKX. The Android versions of these apps are also likely to be taken down as “orders to that effect have been passed already”, a senior government official said. On Wednesday, the ministry of electronics and information technology’s (MeitY) had asked Apple to remove offshore cryptocurrency apps from its store. The action follows inputs from the finance ministry’s Financial Intelligence Unit (FIU), which suggested that these platforms may have been used for money laundering, the official said. Also read | Threat of ban looms over offshore crypto platforms as govt weighs in

slum clusters in the national capital, the AAP's Delhi unit convenor Gopal Rai on Saturday said the party will launch a campaign against it and hold a protest outside the BJP headquarters here. It was decided at a meeting of AAP MLAs that the "Ghar Bachao, BJP Hatao" campaign would be launched on Sunday from New Delhi.

pro-Pakistan separatist amalgam Tehreek-e-Hurriyat and Muslim League Jammu Kashmir headed by separatist Masarat Alam. Both the organisations were recently banned by the government. Tehreek-e-Hurriyat was founded by late separatist leader Syed Ali Shah Geelani.

High Courts of Bombay and Karnataka, seeking to be heard before the courts pass any stay order on the restrictions imposed on usage of sugar for ethanol production, an official told ET. Several sugar firms have approached various courts seeking a stay on the Centre's December 7 order prohibiting mills from producing ethanol from sugarcane juice in the 2023-24 season. In the absence of a caveat, the courts can pass a stay order without hearing the government, explained the official cited above. The Centre issued the ban to keep a check on rising sugar prices in the domestic market despite restrictions on exports due to lower sugarcane yield in main producer states of Maharashtra and Karnataka. Sugar prices had touched ₹40 in northern India by the end of sugar season 2022-23 (October-September). The government later allowed diversion of 1.7 million tonnes of sugar for ethanol production in the 2023-24 marketing year that started on October 1, 2023, to allay industry concerns. Industry body Indian Sugar Mills Association (ISMA), which has now renamed itself as Indian Sugar and Bio-energy Manufacturers Association, had said the «sudden ban» on the use of cane juice for ethanol would have an adverse impact on capacity utilisation of mills, putting at «risk» their ₹15,000-crore investment in the last three years to set up plants for green fuel. In July, the Food Corporation of India (FCI) had stopped supplying rice for ethanol production to distilleries, leaving distilleries with fewer options for raw materials for ethanol production.

NEW DELHI : ONGC Videsh Ltd has incorporated a wholly owned subsidiary called OVL Overseas IFSC Ltd in Gujarat’s GIFT City that will function as a treasury hub catering to OVL and its 25 subsidiaries, including step-down subsidiaries, across 15 countries. “... OOIL expects to efficiently consolidate funds available with the group in various countries and raise additional funds needed to achieve the ambitious target of producing 40 million metric tonnes oil and oil equivalent (MMToe) by 2040 from overseas assets," ONGC Videsh said in a statement on Wednesday.

26 January Republic Day Parade, scheduled to be held in national capital Delhi. On Tuesday Karnataka Chief Minister Siddaramaiah took to microblogging platform X to hit out at Indian government by accusing them of ‘denying’ the Karnataka tableau because ‘there is Congress government’ in the state.

NEW DELHI : After an expected spurt in the next fiscal year, government capital expenditure (capex) may grow at a more sedate pace in the years ahead as the Centre sets its sights on fiscal consolidation, two people aware of the plans said. The Union government may boost capex allocation by 25% to a record ₹12.5 trillion in 2024-25, Mint reported in November. However, the Centre is also keen to bring the fiscal deficit below the targeted 4.5% by 2025-26.

NEW DELHI : The Supreme Court on Monday issued a notice to the government seeking a response to a plea filed by online gaming companies on tax demands adding up to ₹1.5 lakh crore. The court, however, did not issue a stay on the tax notices issued by the government. A three-judge bench of the Supreme Court led by Chief Justice D.Y.

CHENNAI : Billionaire Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada's Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market. Reliance had in July last year invested about ₹378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based realty estate investment trust Digital Realty were already partners.

NEW DELHI : Qualcomm India will invest ₹177.27 crore in setting up a design centre in Chennai, the chipmaker said at the Tamil Nadu Global Investors Meet on Sunday. The centre will focus on innovations in areas that complement wi-fi technologies and contribute to Qualcomm’s global research and development efforts in 5G cellular technology, the company said.

PDP president Mehbooba Mufti on Sunday the Centre was holding talks with militants in the northeast, but treating ordinary civilians in Jammu and Kashmir as militants. «We will not surrender, we will not raise the white flag. If you talk to us with dignity, we will respond with respect.

Delhi is currently dealing with persistent haze, and to worsen the situation, the smog tower in Connaught Place is not working. This tower, inaugurated by Chief Minister Arvind Kejriwal in 2021, has been shut down by the personnel responsible for its operations.

Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada's Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market. Reliance had in July last year invested about Rs 378 crore to enter an existing joint venture, where Brookfield Infrastructure and US-based realty estate investment trust Digital Realty were already partners.

Chennai presence with a new design centre facility which will specialise in wireless connectivity solutions, with a focus on innovations that complement wi-fi technologies. The announcement was made at the Tamil Nadu Global Investor Meet in Chennai. “The new design centre in Chennai plays a pivotal role in shaping the future of connectivity globally, especially in India," Savi Soin, president, Qualcomm India said in a statement. "(It) is a critical asset to support Qualcomm’s commitment to Make in India and design in India. This will expand our collaboration with India technology partners and accelerate the market adoption of new technology.”

Supreme Court on Friday sought responses from the Centre and probe agencies like the CBI and the ED among others on a plea seeking guidelines for search and seizure of digital devices. A bench of justices B R Gavai and Sandeep Mehta issued notice on the petition filed by news portal NewsClick and its founder Prabir Purkayastha.

top seven cities is poised to exceed one gigawatt by 2024, marking a near three-fold increase in just four years, reflecting the voracious appetite for content in a country that leads the world in smartphone data consumption. That trend is likely to intensify as 5G networks expand further across the country that added a record 230 megawatts of new capacity last year. Cushman & Wakefield reported that the total colocation capacity (IT load) in the top seven cities reached 884 MW in 2023, marking a 35% year-on-year increase. «Colocation supply is expected to reach a record high next year, with numerous greenfield facilities set to go live by both domestic and international players.

NEW DELHI : The Centre has asked states for comprehensive data on the number of successful pregnancies achieved through surrogacy and assisted reproductive technology (ART), including cases involving married, single, divorced, and widowed women. This request, part of an effort to evaluate the effectiveness of the Surrogacy Act and the ART Act, introduced in 2021, was issued on 22 December, with a response deadline set for 1 January. The move follows reports on lapses by several IVF clinics across the country in complying with the rules, said an official from the union health ministry.

I4C wing established by the Home Minister aims to provide a framework and eco-system for Law Enforcement Agencies (LEAs) to deal with cybercrime in a coordinated and comprehensive manner. While responding to a query, Kumar said that per minute, 16 lakh attacks were noted on the G20 account during the summit, adding, that the attacks started soon after the website was up and peaked during the summit. He revealed that I4C along was able to stop these attempts and maintain the security of website with the assistance of several Indian authorities.

NEW DELHI : The Centre is considering a proposal to provide interest-free loans to 15,000 tobacco farmers in Andhra Pradesh, impacted by cyclone Michaung, two officials aware of the matter said. The tenure of interest-free loans, varying between ₹10,000 and ₹20,000, will be six months and will support replanting of tobacco, the officials said. The commerce ministry is considering the proposal forwarded by the Tobacco Board and it is expected to be finalized soon, they added.

Mamata Banerjee's recent meeting with Prime Minister Narendra Modi on pending MGNREGA dues and various central schemes, two nodal officers have been appointed by the Centre and two by the Bengal government to resolve the issues. Sadvi Niranjan Jyoti, Union minister of state (MoS) rural development, who was in Kolkata on Wednesday to attend some political programmes, said, «People of West Bengal are also our own. Their rights cannot be snatched or taken away by any individual or “parivaarbaadi” (who pursues dynastic politics) people.

Adani Group on Wednesday held discussions with the Telangana government to set up a data centre and aerospace park in the state, an official release said. Adani Group representatives led by CEO of Adani Ports and SEZs Karan Adani and CEO of Defence and Aerospace Ashish Rajvanshi met Chief Minister Revanth Reddy in Hyderabad. The chief minister assured the Adani delegation that the state government would provide the required amenities, infrastructure and subsidies to new industries to promote industrial growth and create more employment opportunities.