Racing Financial News

Public Sector Banks may have the largest network base in the country but their ability to garner deposits is much lesser than their private peers. HDFC Bank, the largest Indian private sector lender raced miles ahead in garnering deposits even though its branch presence remained a third of the largest Indian lender State Bank of India. State Bank of India recorded the largest deposit base at Rs 49.01 lakh crore at the end of the June 2024 quarter. It added Rs 3.70 lakh crore of deposits in one year, with the June 2023 deposit base at Rs 45.31 lakh crore. SBI has garnered these deposits with a mammoth branch network of 22,580. Private sector lender HDFC Bank was the top performer among banks in bagging deposits, it added a whopping Rs 4.66 lakh crore in one year. Its deposit base stood at Rs 23.79 lakh crore at the end of June 24 quarter versus Rs 19.13 lakh crore in the year ago period. What is noteworthy is that these deposits have been accumulated with a branch network of 8851, almost a third of SBI's network.

By Howard Levitt and Madelena Viksne

NCLAT on Wednesday directed the resolution professional of SKS Power Generation to submit and bring on record the e-mail sent to the successful bidder, Sarda Energy and Mining on May 8, 2023, seeking clarifications over its resolution plan. A three-member bench has directed the RP to file an affidavit with the e-mail having communications between the SRA (successful resolution applicant) Sarda Energy and the RP and directed to list the matter on August 30 for the next hearing. NCLAT was hearing the appeals filed by Torrent Power and Singapore-based Vantage Point Asset Management Pte, against the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on August 13, approved Sarda Energy and Mining's (SEML) bid. Both the petitioners were also in the race to acquire the debt-ridden thermal power producer and opposed the selection of SEML's bid by the CoC. NCLT had rejected their pleas against approval of SEML's bid.

Robert F. Kennedy Jr. is contemplating ending his campaign to potentially ally with former President Donald Trump. As per the reports of Yahoo news, Nicole Shanahan, Kennedy's vice presidential candidate, revealed in a recent interview that they might withdraw from the race to support Trump. Shanahan highlighted that running as independents could divide votes and benefit Democrats Kamala Harris and Tim Walz in the upcoming election. They are considering whether to merge with Trump's campaign or drop out entirely. The decision timeline has not been disclosed.

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Michelle Obama, gave a speech at the Democratic National Convention on Tuesday, just one night after the president gave an emotional and passionate farewell speech. Almost as a way to make things worse, she kept complimenting her husband's 2008 campaign without bringing up Joe Biden. Michelle says there is an incredibly magical vibe in the air. According to a New York Post report, the 60-year-old Chicago native continued to express her gratitude for her husband, referring to his catchphrase from his popular campaign. In the period leading to Biden’s decision to withdraw from the presidential race, Michelle, who fared relatively better against Trump in polls than Harris and any other contender from the Democratic party, insisted that the vice president is capable of stepping into Biden’s shoes on the Democratic ticket. She proudly announced that the woman who could take responsibility of this moment is Kamala Harris and that she is among the most qualified persons to be the president. The former first lady criticized Trump’s barbs towards the vice president-elect, describing them as petty and regressive, and said that Trump was being petty in his swings. She shouted at voters who are ready to vote for a woman and who are ready to bully, and she appealed to Democrats’ action over the attacks on Harris. Also Read: Grave of the Fireflies: Studio Ghibli’s film release date, where to watch, regional availability and plot

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Kamala Harris' election effort has raised around $500 million since she became the Democratic presidential candidate, sources told Reuters, an unprecedented money haul that reflects donor enthusiasm going into the Nov. 5 election. Four sources familiar with the fundraising effort told Reuters that figure had been banked for Harris in the four weeks since she jumped into the race on July 21. Campaign cash is critical for advertising and get-out-the-vote efforts that help bring people to the polls and persuade undecided voters to swing a candidate's way.

Donald Trump has hinted at including Elon Musk in his cabinet should he win the presidential race. “He’s a very smart guy. I certainly would, if he would do it," the Republican candidate told Reuters when asked of such a possibility.

A high-profile spat between the United Auto Workers and Stellantis over reopening an Illinois factory complex has made its way into the race for U.S. president and could bring a strike against the automaker

Vinesh Phogat’s dream of winning an Olympics medal was shattered for being a mere 100 gm overweight, at least 15 brands have queued up to sign her on. There is a rush to make the Indian wrestler — and other Indian athletes who stood out at the recent Paris Games — the face of brands across categories such as packaged foods, health, nutrition, jewellery, banking and education, executives in the know said. Phogat’s endorsement fee is up to `1 crore per deal per year, from Rs 25 lakh before the games, they said. Chopra, Bhaker Also Gain “Marketers are approaching us, citing not only her performance but the grace with which she conducted herself, despite being defeated by the system,” said Tuhin Mishra, cofounder of Baseline Ventures that represents the wrestler. Despite not winning a medal, Phogat, who endorsed Nike sportswear and Country Delight dairy before the start of the Olympics, was clearly one of the standout Indian athletes, along with javelin throw silver medallist Neeraj Chopra and shooter Manu Bhaker, who won two bronze medals.

US polls 2024 on a Democrat ticket. According to latest reports, Kamala Harris is lagging behind in the key swing state of Pennsylvania, based on two recently released poll surveys. Meanwhile, another survey has stated that Donald Trump is ahead of the reigning VP at the national level.

In the fast-paced world of Web3, where every day feels like a year in traditional finance, three projects, MinePro, Aptos (APT), and DogWifHat (WIF) are causing chatter for different reasons. As MinePro’s presale races past the $700,000 mark, it’s clear that this project is capturing serious investor attention with its innovative approach to Bitcoin mining. Meanwhile, Aptos is regarded bullishly by analysts despite recent negative price action, and DogWifHat is climbing back from recent lows with a heavy struggle, causing questions about it’s long term viability. Let’s break down what’s happening with Aptos and DogWifHat before diving into why MinePro could be the next big thing in the crypto-mining space.

Imagine sending a secret message to someone. Traditionally, you might use a unique code or encryption to keep it safe from prying eyes. But can you guarantee that no one intercepts or tampers with your message, especially without being detected? That’s where quantum cryptography comes in.

Kamala Harris' campaign for California attorney general is that she was not necessarily favored to win. It was 2010 — the pinnacle of the Tea Party's power — and Harris was running statewide for the first time and struggling to shed the same San Francisco liberal label that Donald Trump is yet again wielding as an epithet. Harris, then 45, was already seen as a rising star in the Democratic Party. «The female Barack Obama,» Gwen Ifill had memorably tagged her the year before. But plenty of rising stars are snuffed out early, and Harris was facing a formidable Republican foe that year in Steve Cooley, the popular and moderate district attorney of Los Angeles County.

Democratic National Convention (DNC) will kick off Monday in Chicago, one month after Republicans held their convention in Milwaukee. U.S. President Joe Biden will speak on day one of the convention during prime time, as he passes the torch to Vice President Kamala Harris. Nearly 50,000 visitors are expected to attend the convention, including approximately 4,000 delegates. The theme of the convention is «For the People, For Our Future.» While the official schedule has not yet been released, Democratic National Convention officials have confirmed that President Biden and First Lady Jill Biden will speak on Monday. The theme for Monday will be «For the People,» with speakers expected to pay tribute to Biden, according to DNC officials. Former U.S. President Barack Obama is scheduled to speak on Tuesday, which will focus on the theme «A Bold Vision for the Future.»

Kumari Selja, who is also AICC general secretary and Lok Sabha member from Sirsa, is planning to contest the upcoming assembly election, signalling the five-term MP's move to enter state politics when the Haryana party is fighting a crucial election amid hectic positioning by competing state Congress leaders. «Yes, I am planning to contest the assembly election in Haryana this time. In fact, I have been preparing for it even before the Lok Sabha election.

Indian businesses need to align cyber security budgets with their growth objectives to ensure sustainable expansion in the face of increasing digitalisation and associated risks, a top official of Kaspersky has said. The emergence of new-age technologies, including artificial intelligence and GenAI, is critical for companies to boost their businesses. «In order to grow businesses, you need to digitise. If you don't digitise, you are not going to have that business growth value,» Adrian Hia, Managing Director for the APAC region at Kaspersky, told PTI. At the same time, the digitalisation of businesses increases the attack surface area, opening avenues for risks like sophisticated cyberattacks.

Harris and running mate Tim Walz will campaign by bus in southwestern Pennsylvania on Sunday, hoping to ride the wave of enthusiasm her candidacy has brought to the presidential race to their party's nominating convention in Chicago this week. Vice President Harris and Walz, the governor of Minnesota, will be joined by their spouses, Doug Emhoff and Gwen Walz, as they get on and off the bus in the Pittsburgh area to glad-hand with voters. Harris and Emhoff were scheduled to deliver remarks at an event in the borough of Rochester, in Beaver County, which Donald Trump, the Republican presidential nominee, won in 2020, though he lost the general election to Democrat Joe Biden. Southwestern Pennsylvania is a critical part of a key battleground state that has long commanded the attention of presidential candidates. The state voted for the Republican presidential candidate in 2016 and for the Democratic candidate in 2020. Both Harris and Trump are vying to see who can put Pennsylvania in their column on Nov. 5.

Presidential poll race intensifying with every passing minute, issues that really effect the lives of Americans are now slowly taking center-stage, and they are mostly around the economy and affordability in the country. Although some believe that these problems would be forever persistent and would not cease to exist but some have their eyes and hopes pinned on Kamala Harris, who could have a solution to overcome the biggest economic problem there currently is: Housing affordability crisis.