Indian Financial News

New Delhi: The Central government will launch e-CARe (e-clearance for after life remains) portal on Thursday to facilitate fast transfer of mortal remains of Indian nationals who pass away abroad, Union Health Minister Mansukh Mandaviya said on Wednesday during a press briefing. The government will depute a nodal officer from Airport Health Organization to monitor the portal 24x7 and scrutinize and give fast-track approvals.

India. The necessary judgement should be made by the Indian govt and not by the German govt," the Rajya Sabha MP said. Ariha Shah was accidentally hurt by her grandmother in September 2021 following which the German authorities took the baby away, who is currently under German foster care.

₹1,877.84 crore, while domestic institutional investors (DIIs) also sold securities for a net total of ₹2.23 crore. The decline was triggered by a sell-off in global markets after Fitch downgraded the US credit rating from AAA to AA+. The downgrade was due to concerns about the US government's rising debt levels and the potential for a recession.

Indian expats won big this week in the UAE, with the first one getting Dh20 million in prize money while the other won Dh1 million at the latest Mahzooz Draw in Dubai, reported Gulf News. Feeling absolutely thrilled and happy after winning the big prizes, both winners have also urged others to try their luck at the draw. The first winner is Sachin, who originally comes from the city of Mumbai and is currently working as a CAD technician for a private company.

Reflecting the country’s stable economic performance, Indian real estate experienced a surge in positive sentiment during Q2 2023, as reported in the 37th edition of the Real Estate Sentiment Index, jointly prepared by Knight Frank India and the National Real Estate Development Council (NAREDCO). It also revealed growing confidence in the sector. “The real estate market sentiment in the NCR is overwhelmingly positive. It is primarily driven by the presence of reputable developers known for their timely project deliveries, commitment to promised amenities and construction quality. Besides the recent pause in the interest rate hike by RBI, the country’s stable economic performance, growth projections, and the post-Covid desire to own a home have also played a significant role. Further, there has been a shift in preference towards larger homes, complete with every facility inside the apartment complex,” says Manoj Gaur, CMD of Gaurs Group.

Hockey India president Dilip Tirkey has said that the national men's team will travel to Pakistan for qualifiers in case it fails to directly qualify for the 2024 Paris Olympics by winning gold at the upcoming Hangzhou Asian Games, starting September 23. The team winning the continental event gold shall receive direct berth in the quadrennial extravaganza as per rule but other nations need to play the qualifiers and this time venues identified are Pakistan and Spain. «We will be trying to get the job done in Hangzhou.

Elon Musk's social media platform X is aiming to challenge a verdict by an Indian court, which stated that the platform failed to comply with government directives to take down certain content, reported Reuters. The company asserts that this ruling might empower New Delhi to block additional content and expand the possibilities of censorship. X, previously recognized as Twitter, attempted to reverse official mandates in July 2022, requiring the deletion of specific material from its platform.

Indian Overseas Bank Q1 result: The Indian public sector bank reported a 28.4 per cent rise in its net profit to ₹500.35 crore in the June quarter of FY 23-24 against ₹392.3 crore a year ago. The Chennai-based bank reported a minor reduction in its NPA. In the quarter under review IOB reported gross NPA at 7.13%, whereas its net NPA stood at 1.44%.

yields turned Indian mutual funds (MF) into large buyers of government debt in July, with the trend expected to continue on bets that bond yields are nearing their peak, at least two fund managers said on Wednesday. «The 10-year yield moving above 7.15% has made it attractive and people want to capture this move,» said Murthy Nagarajan, head of fixed income at Tata Mutual Fund said. An increase in inflows into debt schemes allowed MFs to invest in longer term bonds, the best option to put in large sums in the debt market, Nagarajan added, saying he does not expect yields to move sharply in near future.

cold beverages including soft drinks, squashes, powdered mixes and packaged juices have witnessed a growth of 47% in May as against 38% in 2019, a survey showed. In-home penetration refers to the number of households in the survey that consumed the product. Average household consumption of soft drinks too has gone up to just over 7 litres annually from 6.5 litres in 2019, reports TOI. This 47% in-home penetration, according to marketing data and analytics company Kantar, which shared the household panel data exclusively with TOI, is significantly better than any 12-month period before the pandemic. «Whatever struggle the sector faced in the summers of 2020 and 2021 was wiped out by strong performance in 2022 and a reasonably good 2023. There have been important strides that the category made from a purchase standpoint, with increasing trips and quantity signifying a deepening habit,» said K Ramakrishnan, MD, south Asia, Worldpanel division at Kantar. Moreover, families are shopping more frequently for soft drinks. Households are buying bottled soft drinks 6.5 times (average) annually as against 5.5 times in 2019, showing that the habit is now well entrenched.

BYD faces an ongoing Indian investigation over allegations that it paid too little tax on imported parts for cars it assembles and sells in the country, two sources with direct knowledge of the matter said. India's Directorate of Revenue Intelligence (DRI) has alleged that China's largest electric vehicle (EV) maker, whose expansion plans have been hit by fractious relations between New Delhi and Beijing, underpaid tax of 730 million rupees ($9 million), one of the sources said. Although BYD has deposited this sum after the DRI's preliminary findings, the source added, the investigation is ongoing and could lead to additional tax charges and penalties.

Read here: Fitch cuts US credit rating to AA after debt limit standoffs Meanwhile, a report from the Institute for Supply Management said that in July manufacturing contracted at a slightly worse pace than economists expected, but not as badly as it did in June. A separate report from S&P Global also said US manufacturing is continuing to decline. In Japan, the Nikkei 225 declined 1.48%, while the Topix fell 1.11%.

leadership beyond the boundaries of regiments, officials said. Brigadier and above officers are those who have already commanded units and battalions and are mostly posted at headquarters or establishments where officers from all arms and services work and function together.

NIA on Tuesday raided 31 locations in Punjab and Haryana to unravel the full contours of the conspiracy and bring to book the culprits, an official said. The High Commission of India in London was attacked on March 19 by a group of around 50 people during a pro-Khalistan protest. They committed criminal trespass, injured officials, disrespected the Indian flag and damaged public property.

Indian officials have advised Tesla—building a plant in India—to follow Apple in finding “local firms to partner with any Chinese suppliers involved" Reuters reported Tuesday citing government sources having direct knowledge of the matter. The company is in talks with New Delhi about setting up a factory in India but strained India-China ties—after 2020 border clashes—complicate Tesla's plans for bringing in Chinese suppliers crucial for components as India does not have local suppliers for the same.

Singapore is seeing a growing interest from nurses in India to work in the city-state as it grapples to combat the issue of manpower crisis in the nursing industry, according to a media report on Tuesday. The development came as Singapore looks to add about 4,000 new nurses to the workforce by year-end, with two-thirds of them from overseas, the Channel News Asia reported. At least one recruitment agency, Dynamic Health Staff, has seen four times more foreign candidates, mostly from India, who are keen to work here in July compared to January, the report said.

Indian Army has implemented a new common uniform regulation for senior officers with Brigadier and above ranks irrespective of the parent cadre and initial appointment, Army officials said. They said the move will reinforce common identity and Indian Army's character as a fair and equitable organisation.

Tesla examines building a plant in India, officials have asked the company to emulate Apple in finding local firms to partner with any Chinese suppliers involved, according to three government sources with direct knowledge of the matter. Tesla has been in talks with India for weeks about setting up a factory which will potentially build a $24,000 car for local sales and exports, however strained India-China ties threaten to complicate Tesla's plans for bringing in Chinese suppliers.

Starting August 1, Russia has started issuing electronic visa (e-visa) to Indian passport holders that helps visitors get travel approval faster for diverse purposes such as business trips, guest visits, and tourism. The e-visa can be used just like any other regular visa, eliminating the need to check with embassies or any other associations.

Kapil Dev was asked whether India had the right board (BCCI) now, to which he replied that he wasn't sure. When the team performs exceptionally well, it appears to be the right board with nothing wrong, as per the veteran cricketer who spoke to The Week. Dev also mentioned that the right board should strive for improvement.

Indian Bank with a target price of Rs 370. The current market price of Indian Bank is Rs 346.5.