Country Financial News

electric vehicles (EVs) into the next financial year and is likely to seek additional resources in the interim budget to expand its corpus. With the third edition of the Faster Adoption and Manufacturing Electric Vehicles (FAME) scheme yet to get a nod from the finance ministry, possibilities are being explored to extend the current edition till a new supporting framework is put in place, sources aware of the details told ET. «Additional funds for FAME II can be sought in a vote on account,» said a person aware of the matter. The extension would not require multiple approvals as needed for a fresh scheme and will help maintain momentum in the market in the interim, he added. Next year's budget will be a vote on account as general elections are due in April-May.

India has sought four seats for its carriers against every extra seat it allows Dubai-based airlines to operate to the country, according to people with knowledge of the matter. The demand is said to be unprecedented as international aviation trade is typically a bilateral process, based on the reciprocal exchange of rights by states. Under the bilateral air service agreement inked between the United Arab Emirates (UAE) and India in January 2014, airlines of both nations are allowed to operate a total of 66,000 seats per week between Dubai and 15 Indian cities.

ride-hailing apps have mushroomed in India in segments such as cabs, autorickshaw and bike taxis. The emergence of these apps and tackling the competition have become a matter of routine management discussions within incumbent operators Uber and Ola, said people in the know. New apps such as InDrive, Namma Yatri, Yaary, BluSmart and Rapido (in the cabs segment) are primarily looking to address gaps left by the larger players in terms of customer service and driver-partner satisfaction, these people said. Meanwhile, Uber and Ola have also moved to solve some of those service problems, like driver cancellations and supply retention.

passengers, mainly Indian, and previously grounded in France due to suspected human trafficking, touched down in Mumbai during the early hours of Tuesday. According to officials, the aircraft completed its journey, departing from Vatry airport near Paris at approximately 2:30 pm local time and arriving in Mumbai shortly after 4 am. Based on information from French authorities, the aircraft carried 276 passengers when it departed for Mumbai. Twenty-five individuals, including two minors, had indicated their intention to seek asylum and remained on French territory. Two additional individuals were apprehended and subsequently brought before a judge.

By Leika Kihara and Takahiko Wada

Elekta, the Swedish medtech company that makes radiation therapy equipment for treating cancers and neurological disorders, is betting big on India. The company sees an acceleration of demand for linear accelerator (LINAC) machines led by expansion of cancer care to tier-2 and tier-3 cities and towns in both the private and public sector. LINACs are machines that use high-energy radiation to pinpoint and destroy cancer cells.

«This is a milder version of Covid-19. Right now, we are not seeing any hospitalisation or severity of the disease, so would want to wait and watch and not do any procurement right away,» said a senior executive at a leading private hospital.

Nostradamus has left an indelible mark on our collective imagination. Because he wrote in cryptic poems or quatrains, his words possess the quality of being perpetually open to reinterpretation to align with historical occurrences. Evaluating his 'accuracy' becomes a notoriously challenging task due to this characteristic.

Mint explains: Terrestrial networks use on-ground telecom infrastructure to enable connectivity. However, on-ground network cannot cover every area. But a satellite network can, by beaming connectivity down to ground stations where ground networks aren’t present.

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.

Dharavi, spread over 600 acres of prime land in the heart of the country's commercial capital, Mumbai has intensified the discussion surrounding Transferable Development Rights (TDRs). The concept of TDRs originated in New York City in the early 1960s. While it has been utilized worldwide since then, it has garnered increased attention, particularly in major Indian cities over the past few decades.

ICIMOD) report, released earlier this year, warns that glaciers in Hindu Kush Himalayas are melting at unprecedented rates. They could lose up to 75% of their volume by the end of the century, leading to flooding and water shortages for the nearly 2 billion people who live downstream of the rivers. Such warnings mean that international monitoring of glaciers will be a crucial bulwark for safeguarding the region's future. But, last week, GoI rejected a parliamentary panel's recommendation for a data-sharing agreement on Himalayan glaciers with countries of the region, including not-best-of-pals China.

NBFCs have been integral to India's formal credit system since Independence, complementing banks in distributing credit. The sector has occasionally been marred by financial accidents, but it has proved resilience each time, followed by improved regulatory frameworks. The first instance of imposing an NBFC regulatory framework was in 1963, empowering RBI to supervise, regulate and control them effectively. This was initiated after a slew of fly-by-night operators denting the trust of household depositors (most NBFCs back then accepted deposits). Multiple government committees since then prompted a series of changes in the NBFC regulatory landscape:

Chinese embassy and consulates in India will continue to provide consular protection and assistance to the individuals concerned in accordance with the law," Chinese foreign ministry spokesperson Mao Ning said. Mao Ning added that China expects a fair, just, transparent, and non-discriminatory business environment from India.

₹20,000 crore in its flagship business, Adani Enterprises. That got pulled after a devastating report from Hindenburg Research, the US-based short seller. For a few weeks, all 10 listed Adani companies were hitting lower circuits, and soon, the shares of each company had crashed by more than 60%.

₹10 trillion, which is almost three times the outlay of 2019-20. “India’s emphasis on sustainable solutions is expected to drive increased usage (of stainless steel) across traditional applications, process industries, and the household sector, as well as in emerging strategic sectors such as defence, aerospace, and the green and blue economies," Abhudhay Jindal, managing director of JSL said. Tata Steel sees growth in demand for steel to stay for the medium term.

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 : Covid cases continued to rise, with India reporting 628 fresh cases and one death in the past 24 hours, the Union health ministry said on Monday. The active caseload of covid-19 infections rose from 3,742 on Sunday to 4,054 showed ministry data. A death was reported from Kerala, bringing the national fatality toll to 5,33,334.

Rahul Gandhi over his silence over some controversial statements made by leaders of INDIA bloc parties. Referring to Rahul Gandhi as «Election Gandhi,» she urged him to clarify his stance on the 'Sanatana Dharma' statement made by DMK leader Udhayanidhi Stalin and other remarks made by other DMK leaders. «We are witnessing unfortunate statements today from many political leaders in this country.

Santa Claus hats, this is one of the best seasons of the year. However is Christmas, 2023 warm or cold? The Met Office says that Christmas Eve this year has been the warmest since 1997 and predicts this day to be the hottest recorded Christmas Day, shattering the dreams of many for experiencing a White Christmas also.

France for a human trafficking investigation departed on Monday for India, after an exceptional holiday ordeal that left about 300 Indians en route to Central America blocked inside a rural French airport for four days. Associated Press reporters outside the Vatry Airport in Champagne country saw the unmarked Legend Airlines A340 take off after the crew and about 200 other people boarded the plane. It wasn't immediately clear what would happen with those who didn't board the plane. The passengers grounded in France included a 21-month-old child and 11 unaccompanied minors who were put under special administrative care.