PAM Financial News

credit card additions at Indian lenders even through the festive season, with analysts anticipating a circumspect approach from banks as pockets of the consumption economy show signs of a demand fatigue. Latest Reserve Bank of India (RBI) data published recently showed credit card additions fell almost 50% year-on-year in October, taking the total card base to about 107 million. Lenders added 786,000 new cards for the month over September. «Net new card additions are expected to moderate in the near term due to rising delinquencies in the credit card receivables,» said Bunty Chawla, research analyst at IDBI Capital Markets. «Most lenders remain cautious on new card disbursements also due to RBI's risk weight norms. Though we expect card spends to remain range bound in the coming months.»

finance ministry that they will continue to deny investigative agencies permission to investigate their employees unless they are provided with material evidence of wrongdoing. The finance ministry is meeting with the CEOs and chief vigilance officers (CVO) of PSU lenders today (Wednesday) on resolving conflicts between banks and investigative agencies probing bank officials. According to the banks, investigative agencies have initiated probes on the basis of suspicion and not evidence, and the investigation process is humiliating and often followed by raids. «It demoralises other employees who are not on the radar,» a senior banker said. The agencies contend that the denial of permission to investigate bankers for alleged frauds has resulted in a significant backlog of unresolved cases.

Justin Trudeau is quite critical of. Trump has now been engaged in a war of words with the Canadian Prime Minister and has even stated that Canada should become the 51st state of the US, if Trudeau is not able to handle tariffs and immigration, according to a Fox News report.

asteroid is on a collision course with Earth. It is expected to enter the atmosphere over northern Siberia tonight. Space experts confirm the event will cause no harm.

Lionel Messi and Cristiano Ronaldo are still popular and respected by their fellow players even though they no longer play for European clubs. The 37-year-old Messi and 39-year-old Ronaldo were the only players not with clubs in Europe to be voted on a 26-man shortlist for the world team of the year organized by global players' union FIFPRO on Monday. The other 24 nominees played in the past year with clubs in England, Germany, Spain and France, though Kylian Mbappe was the only French connection after spending last season at Paris Saint-Germain.

Alex Carey has said. Australia have won 11 of their 12 pink ball tests and all seven they have played at Adelaide Oval, including a victory over India in the last home test series when they skittled Virat Kohli's team for 36. «We're excited. We should take a lot — and we do take a lot — of confidence out of our record from pink ball cricket,» Carey told reporters on Tuesday.

CBIC) has said that media reports regarding the Group of Ministers (GoM) recommendations on GST rate changes regarding various goods and services are premature and speculative. In a social media post, the CBIC said a Group of Ministers was constituted to look into the GST rate rationalisation apart from certain other issues referred by the GST Council. The GoM comprises of ministers from the States of Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka and Kerala with the Deputy Chief Minister of Bihar as the Convenor.

The tennis star, however, dismised the speculations. Addressing the rumors about skin bleaching during a recent makeup tutorial for her beauty line, Wyan Beauty,she denied altering her skin tone, stating she is a Black woman and content with her appearance. The tutorial, broadcast live, showed Williams applying makeup.

Manipur police have arrested three members of Arambai Tenggol. Over 2000 troops are searching for the Meitei man, Laishram Kamal Babu who has been missing since November 25. Manipur police in a statement stated, “On 01.12.2024, Manipur Police arrested three armed miscreants and apprehended one juvenile from Kshetrigao Sabal Leikai, Imphal East District who were found loitering in the area to commit prejudicial activities like extortion of money from general public and government officials of the said areas as well as threatening the general public. They were later found to be members of Arambai Tenggol. The three arrested persons have been identified as — Ningombam Lemba Singh, Mangshatabam Poireinganba Meitei, Laishram Bidyas Singh. Further the following items were recovered from their possession. One Ghatak rifle along with one magazine and 5 live rounds, One .32 Pistol country made with magazine, three number of mobile phones, One four wheeler vehicle and other incriminating items”. Arambai Tenggol is a radical Meitei group.

GTA 6 or Grand Theft Auto VI from Rockstar Games is a much awaited video game for games. Now, fans are curious to know when will GTA 6 second trailer be released. While there have several updates about leaks but none of those were backed by makers. There will be a Game Awards ceremony on December 12. The occasion is a perfect platform to release GTA 6 trailer 2. However, there is no official confirmation regarding this development, as per a report on The Direct.

«To safeguard a liberal South Korea from the threats posed by North Korea's communist forces and to eliminate anti-state elements… I hereby declare emergency martial law,» Yoon said in a live televised address to the nation. «With no regard for the livelihoods of the people, the opposition party has paralysed governance solely for the sake of impeachments, special investigations, and shielding their leader from justice,» he added.

Indian Navy said on Tuesday. Addressing a press conference, Vice Admiral Sanjay J Singh, Flag Officer Commanding-in-Chief of the Western Naval Command, said the three warships — INS Nilgiri, INS Surat, INS Tushil — and submarine INS Vagsheer are expected to be commissioned in a month. «We have got four vessels that are due for induction within the next one month,» Singh said. INS Nilgiri is the first ship of Project 17A and was launched in September 2019, he said.

ZFunds has secured Rs 25 crore in equity funding led by Elevation Capital along with participation from PB Fintech group chief executive officer (CEO) Yashish Dahiya, in its first major institutional funding round. PB Fintech operates the insurance marketplace Policybazaar and credit marketplace Paisabazaar. ZFunds was founded in 2019 by Manish Kothari and Vidhi Tuteja, who worked at Paisabazaar before starting up. Also Read: ETtech in-depth: Decoding PB Fintech’s bull run on the stock markets

In the Lost Lands, a fantasy movie based on George R.R. Martin short story, now has an official release date. This feature brings together a notable cast and director.

InterGlobe Aviation, which runs the largest airline IndiGo, on Tuesday moved the Delhi High Court alleging trademark infringement of its Air Transport Association code ‘6E’ by Mahindra Electric Automobiles. The airline accused the automaker of using the mark ‘6E’ in its upcoming electric sports utility vehicle (SUV) Mahindra BE 6e, which it claimed to be similar to its trademark ‘6E.’ Mahindra BE 6E, which has generated buzz for its unique design and tech loaded features, is expected to hit the roads in February next year. While Justice Amit Bansal recused himself from the hearing the case, senior counsel Sandeep Sethi informed the court that Mahindra had reached out to the airline on Monday and an effort was being made to discuss the matter.

CBSE) is considering introducing two levels of science and social science — standard and advanced — for students in Classes 9 and 10, according to officials. The board already offers two levels of mathematics for Class 10 students. Its curriculum committee has approved the idea, which is in line with the new National Education Policy (NEP). However, the board's governing body is yet to give its nod. According to the NEP, all subjects and corresponding assessments, beginning with mathematics, could be offered at two levels with some students studying subjects at the standard level and others at the advanced level. «The proposal was approved by the curriculum committee. However, the logistics and the framework are yet to be worked out. Currently, we offer only one subject at two levels in Class 10. While the syllabus for students opting for maths (standard) and maths (basic) is the same, the question papers and the difficulty level of the questions in the board exam differ,» a senior CBSE official said.

Replying to the debate on the bill, Oil Minister Hardeep Singh Puri said that the oil and gas sector involves high investment and long gestation period. «We need oil and gas sector 20 more years. We need to bring this legislation here to provide a win-win confidence not only to our own operators but also to foreign investors so that they can come and do business here with view to benefit everyone,» Puri said.

corporate earnings data and the market beginning to show early signs of revival, Quant Mutual finds itself close to fully deployed and believes that its risk-off phase is at the fag-end stage. “Although high-level macroeconomic and corporate earnings data merit tracking, most, if not all of these below-estimates data are factored in and timing is ripe for being optimistic about selective segments of the market. Hence, we are now close to fully deployed and believe that risk-off phase is in its fag-end stage,” the fund house said in its monthly release. Also Read | Taking stock: 70% equity mutual funds outperform their benchmarks in 2024

income tax department making errors in processing income tax returns (ITR). The Karnataka State Chartered Accountants Association (KSCAA) has sent a representation to the CBDT in this regard. KSCAA's representation says that the CPC has erred in considering the due date for filing ITR and has imposed penalties even for those who filed ITR well within the deadline. A chartered accountant, who did not want to be named, also said that her own firm as well as the firm's clients got slapped with the penalty for late filing of ITR even though it was filed on time.