Indian Financial News

Khalistani elements on Saturday. While no untoward incident took place as the countries responded with a show of strength and kept mobs at bay, India is looking for such strong security measures as a matter of norm to deal with future threats as well.

Indian startups raised $3.8 billion in the first half of 2023 (January to June), falling by a massive 36% as compared to the fundraising in H1 of 2022. This is also the lowest six-month funding in the last four years, as per PwC India research report.

North India leading to landslides and floods. In Rajasthan, Udaipurwati in Jhunjhunu recorded a maximum of 12 cm of rain till Sunday morning, the MeT department. Malsisar (Jhunjhunu), Jhunjhunu, Mangaliyawas (Ajmer), and Sikar recorded 11, 9, 8, and 7 cm of rainfall respectively, said the department. A few areas received heavy to very heavy rains while moderate to heavy rainfall occurred in many areas from Saturday till this morning. Four were reported dead due to heavy rain in several districts of Rajasthan.

Amidst the heightened global uncertainty, the Indian economy has proved to be more resilient than many large economies of the world, a report from CII has showed. A conducive domestic policy environment, along with healthy performance of its key macroeconomic indicators have sustained the growth momentum of the economy, the report said. The CII Business Confidence Index (CII- BCI) improved to a reading of 66.1 in Q1 (Apr-Jun FY24) as compared to 64.0 in the previous quarter showing a positive momentum in indicators such as GST collection and air & rail passenger traffic. 63 per cent of over 180 firms surveyed in the Business Outlook Survey (63 per cent) expect India's GDP growth to be 6-7 per cent for FY24, similar to RBI’s growth forecast of 6.5 per cent for this fiscal year. 86 per cent of the respondents expect inflation to fall below 6 per cent in FY24 in line with RBI’s projection of 5.1 per cent of inflation in FY24.

Indian startups fell by 36 per cent in January-June to USD 3.8 billion, the lowest half-yearly number in the last four years, as investors are taking longer time in due diligence of every aspect of business, according to a PwC India Report. Early-stage deals accounted for 57 per cent of the total funding in the first half of 2023 (H1 CY23) in volume terms, said the report titled, «Startup Perspectives — H1 CY23».

pro-Khalistani protestors during a demonstration outside the Indian High Commission on Saturday, according to ANI reports. However, the United Kingdom saw a significantly subdued protest outside the Indian High Commission in London on Saturday, with only 30-40 pro-Khalistanis showing up between 12.30 pm and 2.30 pm GMT yesterday.

SAFF Championship final against Kuwait earlier this week, goalkeeper Gurpreet Singh Sandhu speaks with Boria Majumdar about the all-important save, what the victory means for Indian football, the Asian Cup next year and more. ExcerptsHow do you look back at that brilliant save that helped India won the title? It was a hugely important save. The match and the trophy were up for grabs and all of our fans wanted it to happen.

Dada for his explosive batting style or love him, but nothing in between. Having represented India in as many as 424 matches with a total of 18,575 runs, Sourav Ganguly is easily one of the greats of Indian cricket. The Prince of Kolkata turned 52 today, and the country cannot stop reminiscing the highlights of his career.

₹21,944 crore, hinting that these inflows are likely to surpass investments made in June and May this year. FPIs are likely on the path of recording the fifth monthly buying in the Indian market in a row. This foreign funds inflow is driven by a strong rally in Indian markets with Sensex and Nifty 50 hitting new lifetime highs this week.

By Mayank Bhardwaj and Sumit Khanna

The Railway Ministry with a view to optimize utilization of accommodation in trains, has decided to delegate powers to Zonal Railways to introduce discounted fare scheme in trains with AC sitting accommodation. The fares of AC chair car, executive classes of all trains, including Vande Bharat, to be reduced by up to 25%. This scheme shall be applicable in AC Chair Car and Executive classes of all trains having AC sitting accommodation including Anubhuti and Vistadome coaches.

Canada war zones. Yesterday, US lawmakers and several Indian-American community organisations denounced the recent attack on the Indian consulate in San Francisco and called for a thorough probe into the incident. A video by Khalistan supporters, dated July 2 and posted on Twitter, showed the act of arson at the Indian consulate in San Francisco.

Foreign portfolio investors (FPIs) have bought Indian shares worth almost ₹1 lakh crore so far this year, giving a boost to the Indian market. Strong foreign capital inflow has been a major reason for the recent strong performance of the Indian stock market. While foreign investors have been bullish on Indian stocks, domestic institutional investors (DIIs) have been selling off Indian equities this month.

Indian Army formations carried out drills in Eastern Ladakh to cross the Indus River and attacks in enemy positions. Team ANI witnessed the special drills carried out by Indian Army's tank formations including the T-90 and T-72 tanks and BMP infantry combat vehicles to cross the mighty Indus river which flows from the Tibetan territory controlled by the Chinese Army through the entire Ladakh sector before entering Pakistan.

Indian consulate in San Francisco and called for a thorough probe into the incident so that the perpetrators are brought to justice. While the right to protest is ingrained in the US Constitution, no one has the right to engage in violence, they said in separate statements and tweets on Friday. They also condemned the threats issued to Indian diplomats, including India's Ambassador to the US Taranjit Singh Sandhu, by separatist Sikhs and called on the Biden administration to ensure safety of foreign diplomats.

Ajit Doval on Friday called upon his British counterpart Sir Tim Barrow to take strong public action such as deportation against extremist elements threatening officers of Indian High Commission in the UK, official sources said. Doval raised the issue during his wide-ranging talks with Barrow, who is currently on a visit to India.

Indian refiners, including a private refiner, have paid for some Russian oil imports in Chinese currency Yuan following such demands from suppliers, according to people familiar with the matter. Indian refiners pay for most of most of the Russian oil in dollars but some cargoes that are priced above the G7 price cap of $60 per barrel are paid for in non-dollar currency to avoid the US scrutiny. So far, it was UAE's dirham that Indian refiners used for paying Russian suppliers but now at least two refiners have paid in Chinese Yuan as well, according to people familiar with the matter.

Indian Oil Corp plans to raise up to Rs 22,000 crore through a rights issue as part of the government’s plan to fund three state-run oil marketing companies’ green ambitions, according to a stock exchange filing. The Board of Indian Oil on Friday approved the rights issue. The details will be announced later.

Business Insider reveals that the gravity hole which was known as the Indian Ocean geoid low was possibly due to plumes of molten rock which was rising from the remains of an ancient hotbed. The variation of gravitational forces over the surface of the Earth is not news. A dense continent can have more gravitational force than a zone where the crust is thinner.

Also Read: Indian Oil Corp board to consider fundraising through rights issue on July 7; check details Ramesh said bottling units for ‘Munna’ will be launched in Tripura and North Guwahati soon. “These lightweight LPG cylinders are catering to migrant population in urban and semi-urban areas who do not have local address proof, people with lower gas consumption and commercial establishments with limited space.

FIFA tournaments in 2023 have been purchased by 1Stadia, a US-based firm that specializes in technological improvements in the sports and media rights industries. The broadcast deal includes FIFA Women's World Cup Australia & New Zealand 2023, FIFA Club World Cup 2023, FIFA Beach Soccer World Cup 2023, and FIFA Under-17 World Cup 2023.