PAM Financial News

Nirmala Sitharaman on Monday pitched the India story to a large group of pension funds and institutional investors in the US and impressed on them to take advantage of India's enormous investment opportunities. Sitharaman addressed a roundtable on “Investment Opportunities in India” at the New York Stock Exchange (NYSE), the world’s oldest and largest bourse with around 11 Indian companies listed on it, according to a finance ministry post on X (formerly Twitter). “The roundtable is being attended by various pension funds and other institutional investors and fund managers across USA, forming one of the largest financial systems in the world in terms of total assets under management,” the ministry said in the post.

Pushkar Singh Dhami on Monday made four announcements on the occasion of Police Commemoration Day, including Rs 100-crore allocation for the construction of residential buildings for cops and increasing their diet allowance by Rs 100 per month. Dhami was addressing police personnel after offering a wreath at the Shaheed Smarak at Police Line Dehradun. In his address, the chief minister also announced an raise in the high altitude allowance to Rs 300 per day for personnel living at a height of over 9,000 feet and an increase of Rs 3,500 in the uniform allowance of police inspectors and assistant sub-inspectors. On this occasion, he also honoured the families of the police personnel who sacrificed their lives.

Partha Pratim Sengupta is likely to assume charge as managing director and chief executive officer of Bandhan Bank on November 1, ending four months of leadership gap at the Kolkata-based universal bank having a microfinance legacy. The immediate challenges for Sengupta would be to address the asset quality stress the lender has been facing, especially on its microfinance portfolio, and to contain the higher operational expenses, according to banking experts. A few formalities are yet to be completed, but he will most probably take charge on November 1, two people in the know said. «If not, he will definitely join within the first week of November,» said another bank official.

defence cooperation between the two countries and explore new avenues of cooperation between their navies, an official statement said on Monday. Adm Tripathi will also witness the conduct of the third edition of the India-UAE bilateral naval exercise, the defence ministry said in the statement. The Chief of the Naval Staff is scheduled to hold discussions with Rear Admiral Pilot Saeed Bin Hamdan Al Nahyan, Commander of the UAE Naval Forces and other senior government officials of the UAE, it said. Adm Tripathi is visiting the UAE from October 21-24, the ministry said.

Biltmore Estate after the deadly Hurricane Helene devastated North Carolina in September, forcing the closure of one of the area's most popular tourist attractions. The Biltmore Estate will re-open on November 2, Saturday, the company said in an official press release. The historic 8,000-acre estate in the Blue Ridge Mountains Biltmore estate sustained varying degrees of storm damage when Hurricane Helene ripped through western North Carolina, bringing unprecedented flooding and destructive winds to the area, reported Fox Business. Biltmore Estate is one of the largest and most historic attractions in Asheville and has been shut since Helene battered the western Carolinas as a tropical storm. ALSO READ: How Helene became the near-perfect storm to bring widespread destruction across the South

National Capital Region (NCR), authorities will implement Stage II of the Graded Response Action Plan (GRAP) starting at 8:00 AM on October 22, 2024. The Commission for Air Quality Management (CAQM) announced this decision after Delhi recorded an Air Quality Index (AQI) of 312, marking the air quality as «Very Poor.»

Indian diaspora appear extremely bullish on the Indian economy as aggregate inflows to NRI deposits more than doubled. Inflows into NRI deposit schemes amounted to $7.8 billion in April-August this year to compared to inflows worth $ 3.7 billion in the same period a year ago, the latest data released in the Reserve Bank of India’s latest monthly bulletin. Both dollar (FCBR(B)) and rupee deposits (NRE(RA)) surged reflecting higher returns in the Indian markets as also the strong fundamentals.

Samantha Ruth Prabhu, who has been seen with a mystery man. A video capturing Samantha leaving an event alongside this unidentified individual has gone viral, igniting curiosity and speculation among her fans. In the video, which was shared widely on social media, Samantha can be seen wearing a stylish strapless blue dress. The clip captures a moment where she appears to reach for the man's hand, only to quickly withdraw, leading to a flurry of theories regarding their relationship. Fans have been left pondering, “Who is he??” as discussions swirl around her potential romantic involvement following her divorce from Naga Chaitanya. One fan took to social media to clarify the situation, stating, “Nope, he is not her so-called new boyfriend; he’s actually a camera-shy person who is married. He is her best friend, and she attended this event with her best friend's family. Peace out, leave my woman alone.” This comment aims to quell the rampant speculation, yet Samantha has remained tight-lipped about the identity of her companion, further fueling interest among her followers.

Maharashtra, which is a «significant achievement», Shiv Sena (UBT) leader Sanjay Raut said on Monday. The aim is to ensure the defeat of forces looting Maharashtra, he said in a swipe at the ruling alliance comprising Chief Minister Eknath Shinde's Shiv Sena, the BJP and Ajit Pawar-led NCP. «We have arrived at a consensus on 210 seats. It is a significant achievement. We aim to contest polls as a joint force and we will defeat the forces looting Maharashtra,» Raut, a Rajya Sabha MP and key strategist for the Shiv Sena (UBT), told reporters. The MVA comprises the Shiv Sena (UBT), the Congress and Sharad Pawar's NCP (SP).

Bangladeshi author Taslima Nasreen on Monday made a public appeal to Union Home Minister Amit Shah, requesting him to extend her residence permit to live in India. In an open request to Shah posted on her official X account, Nasreen claimed that the Ministry of Home Affairs is not extending her permit to stay in India since 2022. She expressed her worry, and urged the Minister to intervene for her benefit. «Dear AmitShahji Namaskar. I live in India because I love this great country. It has been my 2nd home for the last 20yrs. But MHA has not been extending my residence permit since July22. I'm so worried.I would be so grateful to you if you let me stay. Warm regard,» read Nasreen's post on X.

Mongolian coking coal by way of Russia, a senior government official with direct knowledge of the matter said, as New Delhi seeks to avoid over-reliance on transit through China. Mills in India, the world's second-biggest producer of crude steel, grappled with volatile Australian supplies of coking coal last year, and the government sent delegations to Mongolia in an effort to diversify sources of the fuel. Despite a longer route, Indian steel companies will now consider importing Mongolian coking coal by way of Russia, said the official, who spoke on condition of anonymity, as the deliberations are not public.

Allied Blenders and Distillers Limited (ABDL), the third largest spirits company in India, has partnered Roust Corporation, one of the largest vodka producers in the world to launch Russian Standard Vodka in India. The new strategic distribution agreement underscores ABDL's wider strategy of offering premium and luxury products to Indian consumers. Russian Vodka is the largest selling vodka in Russia with 30% market share in the premium category and is exported to over 85 countries. ET was the first to report the development on 12 August this year. The strategic arrangement between ABDL and Roust Corporation leverages the strengths of both companies. ABDL's distribution network and consumer marketing expertise will complement Roust Corporation’s globally renowned vodka premium portfolio namely Russian Standard Original, Gold and Platinum, it said in a statement.

Middle East's biggest hypermarket chains, kicked off an initial public offering on Monday that bankers say could be the UAE's largest this year. The offering by the conglomerate that runs more than 240 stores in the six countries belonging to the Gulf Co-operation Council comes during a retail spending boom in the region that is spurring domestic listings by companies in the sector. The listing, set to run from Oct. 28 to Nov. 5, will offer more than 2.582 billion shares, which are expected to start trading on the Abu Dhabi Securities Exchange on Nov. 14, Lulu's IPO document showed.

https://x.com/FlockerzToken/status/1840049282889724227

credit market is growing so fast that a rush of new participants into the direct-lending sector is fueling concern about a weakening of lending standards. “We have seen a bunch of first-time managers raise a lot of local capital,” Indranil Ghosh, head of Pan-Asia special situations at Cerberus, said at the Bloomberg India Credit Forum in Mumbai on Friday. “With some of those managers, I suspect that the underwriting standards, the diligence standards, the structuring, covenants are slightly lighter than what a lot of the global firms and well-established domestic institutions are used to.” Also Read: RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley

Congress president Mallikarjun Kharge on Monday claimed that the BJP is the «biggest enemy» of Maharashtra's farmers and asserted that the state has decided that farmers will benefit only by removing the double engine government from power. In a post in Hindi on X, Kharge slammed the BJP over farmer suicides in Maharashtra and said the promise of making the state drought-free is a «jumla» (rhetoric). «BJP is the biggest enemy of Maharashtra's farmers. 20,000 farmers committed suicide. Huge cut in funding in farming. Promise of Rs 20,000 crore water grid turned out to be false. Promise of making Maharashtra drought-free is a 'Jumla',» he said. Kharge also attacked the BJP over its «refusal to give compensation to the farmers» while insurance companies are being showered with Rs 8000 crore.

mutual funds attracted around Rs 30,350 crore inflows during April to September of the current financial year. The continuous inflows in these categories were mainly due to high returns offered by these categories. According to the Association of Mutual Funds in India (AMFI), mid and small cap funds received inflows of Rs 32,924 crore during the same time a year ago. “Investments in mid and small cap funds should be made based on one’s risk appetite. It is important for investors to note that mid and small cap segments are highly volatile. While they can give exceptionally high returns in up markets, they can fall equally hard in down markets. Therefore, investors should take exposure in these funds in line with their risk appetite and invest only with a long-term investment horizon,” said Melvyn Santarita, Analyst – Manager Research, Morningstar Investment Research India

hand transplant post her amputation. Anamta Ahmad, the youngest person in the world to undergo a shoulder-level limb transplant, faced a daunting recovery journey as she got electrocuted by 11000-volt electric wires. The complex nature of the surgery and extended recovery period required a specialised approach to ensure proper healing and minimised discomfort. Imaginarium's custom 3D printed orthotic device, tailored to Anamta's needs, has been crucial in overcoming these challenges. «We are proud to have played a role in Anamta's recovery by pushing the boundaries of personalised healthcare,” said Aashay Mehta, Managing Director and Co-Chairman at Imaginarium, said in a statement. “There’s nothing that requires more customization than the human body, no two people are the same, and even our left and right sides aren’t identical. That’s why our work is so vital. Whether it's for this surgery or developing patient-specific implants, we’ve been at the forefront of 3D-printed healthcare solutions for two decades. Our goal is to keep innovating and finding new ways to meet the unique medical needs of each individual.»

Hezbollah’s deputy secretary general, Naim Qassem, has reportedly fled crisis-stricken Lebanon and is now residing in Tehran, according to local media sources. The move, reportedly ordered by Iranian leaders, is seen as a precautionary measure amidst rising concerns for Qassem’s safety, as he is believed to be a potential target of an Israeli assassination.

Ekta Kapoor and her mother Shobha Kapoor have landed in legal trouble. A case has been filed against them under the POCSO Act for allegedly showing inappropriate scenes involving minor girls in an episode of the ALT Balaji's web series 'Gandi Baat'. The case is related to season 6 of the web series 'Gandi Baat' on the OTT platform 'Alt Balaji'. According to Mumbai Police, a case has been registered against Balaji Telefilm Limited, Ekta Kapoor and her mother Shobha Kapoor at MHB police station in Mumbai under section 295-A of IPC, IT Act and sections 13 and 15 of POCSO Act.

sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks. But the International Monetary Fund and others worry that a dangerous liquidity shortfall could take its place in many emerging economies — setting back development, stunting climate change mitigation and fuelling distrust in governments and Western institutions. The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.