RAI Financial News

Aman Sao was killed in an encounter when members of his gang tried to free him from police custody in Jharkhand's Palamu district on Tuesday, officials said. The incident took place a day after state Director General of Police Anurag Gupta said most crime plots in Jharkhand are being hatched inside jails and executed with the help of criminal gangs. The shootout happened on Tuesday morning when the gangster, accused in over 150 cases and convicted in some cases, was being brought to Ranchi from Raipur jail in neighbouring Chhattisgarh, they said. «Suddenly, members of Sao's gang attacked the vehicle in which he was being brought and attempted to free him near Chainpur in Ramgarh police station area, around 180 km from Ranchi, resulting in a gunfight in which Sao was killed and another police personnel was injured,» Medininagar Sub-divisional Police Officer (SDPO) Manibhushan Prasad said. Officials said that as his gang members launched the attack to free him, Sao snatched an INSAS rifle from an STF jawan and started firing, prompting the police to retaliate in self-defence, leading to Sao's death. Palamu Superintendent of Police Reeshma Ramesan said Sao was being brought to Ranchi from Raipur in connection with an NIA case.

IndusInd Bank plummeted 26% on Tuesday, hitting a fresh 52-week low of Rs 720.50, as multiple brokerages downgraded the stock and slashed target prices in the wake of an accounting discrepancy in its forex derivatives portfolio. Mutual funds held around 20.08 crore shares of IndusInd Bank in their portfolios, with a total market value of Rs 19,884 crore as of February 28, 2025. Around 35 AMCs and around 360 schemes had exposure in IndusInd Bank as of February 28, 2025. Five AMCs had over Rs 1,000 crore exposure in IndusInd Bank. ICICI Prudential Mutual Fund had the highest exposure of around Rs 3,778 crore and had around 3.81 crore shares in its portfolio in February.

Rouse Avenue court on Tuesday granted bail to Tej Pratap Yadav, Hema Yadav and other accused persons in the Land for Job scam case. They appeared before the court pursuant to summons issued to them. Lalu Prasad Yadav, Rabri Devi and Misa Bharti moved exemption application. Special judge Vishal Gogne granted bail to accused persons on furnishing a personal bond of Rs. 50000 and surety bond in like amount by each accused. The court has listed the matter for hearing on March 20. The court took cognizance of all three chargesheet including conclusive charge filed by the Central Bureau of Investigation. The conclusive charge sheet was filed against former Railway Minister Lalu Prasad Yadav and 77 other accused persons. There are 30 public servants in the accused persons and 38 candidates. In first chargesheet, three additional accused have also been added and summoned. In second chargesheet accused Bhola Yadav, Prem Chand Gupta have also been summoned. In third chargesheet Hema Yadav and Tej Pratap Yadav have also been summoned.

Sri Lanka has not changed its stance on doing business with India's Adani Group and welcomes investment opportunities from the conglomerate, the country's cabinet spokesperson said on Tuesday. Gautam Adani, the chairman of the ports to power business group, and top executives of Adani Green were indicted by U.S. prosecutors last year for their alleged role in a $265 million scheme to bribe Indian officials to secure solar power deals. Adani and the executives have denied any wrongdoing. Sri Lanka, however, had said it was «unconcerned» by the group's dealings with other countries. «But Sri Lanka remains firm on negotiating purchasing costs of power generated from the wind power projects,» the cabinet spokesperson said, referring to the two proposed wind power projects Adani has withdrawn from.

Several key infrastructure projects announced in the budget including the third airport to cater to the country’s financial capital Mumbai are expected to enhance real estate prospects in the state. With a focus on improving connectivity and easing housing shortages, the state government’s initiatives are expected to drive demand in both residential and commercial markets across the state including key property markets of Mumbai, Pune, and Nashik.

150th anniversary Test between Australia and England will be held under lights at the Melbourne Cricket Ground from March 11-15, 2027. Cricket Australia announced Tuesday that the historic match will be the first day-night men's test at the MCG. The famous stadium on the edge of downtown Melbourne hosted the first cricket test in 1877 and the centenary test between Australia and England in 1977. Australia won by a 45-run margin in both of those matches. «The 150th anniversary test at the MCG will be one of the great cricket events, and playing under lights will be a fantastic way to celebrate both our game's rich heritage and test cricket's modern evolution,» Cricket Australia chief executive Todd Greenberg said. «It will also help ensure more people are able to attend and watch what will be a fantastic occasion. »The Centenary Test created many iconic performances, including David Hookes' five consecutive boundaries off Tony Greig, Rick McCosker batting with a broken jaw and Derek Randall's defiant century, and I'm sure the 150th test will create its own lifelong memories." Australia is hosting the 2025-26 Ashes series against England starting in November.

Maharashtra following the state government decision to levy 6% motor vehicle tax, said executives at luxury car makers. As part of the budget proposal for FY26, the Maharashtra government will levy a 6% motor vehicle tax on EVs priced above Rs 30 lakh. Currently, all EVs sold in Maharashtra are exempt from motor vehicle tax. Additionally, the government raised the motor vehicle tax by 1 percentage point on individual-owned non-transport four-wheeler CNG and LPG vehicles. Depending on the vehicle type and price, such vehicles currently attract 7% to 9% tax.

Ranya Rao. State's Additional Chief Secretary, Gaurav Gupta will lead the investigation. Further, an investigation was also ordered into the role of senior IPS officer Ramachandra Rao. The report is to be submitted within a week. Meanwhile, Rao's friend, Tarun Konduraju, who was accompanying her in Dubai, has also been taken into custody by the Directorate of Revenue Intelligence (DRI). On Monday, Rao was sent to judicial custody for six days. The actress was in the custody of the Directorate of Revenue Intelligence for three days for interrogation. The DRI has said it seized gold bars worth Rs 12.56 crore from Rao at Kempegowda International Airport in Bengaluru.

Sensex down by over 5% in February, Samir Arora, the founder and CIO of Helios Mutual Fund, has drastically increased cash holdings in his flexi cap fund from 1.70% in January to 20.60% in February. Fund managers are allowed to keep a part of their portfolio in cash to meet events like redemptions or make investments when they see a possible opportunity in the market. Also Read | Sensex up nearly 900 points in March so far. How should mutual fund investors tweak their portfolios?

Indian cricketers, led by Rohit Sharma, have made a quiet return home following their triumph in the Champions Trophy in Dubai. After leading India to their second ICC title in nine months, skipper Rohit landed back in Mumbai on Monday night. The squad members have got a week off before they join their respective IPL teams ahead of the tournament beginning March 22. «All the players with families left from Dubai on Monday. There are some players who have stayed back for a couple of days,» a BCCI source told PTI.

Donald Trump has declared his support for Tesla CEO Elon Musk by announcing his intention to buy a “brand new” Tesla. The move comes as Musk faces mounting political criticism and financial setbacks. In a late-night post on Truth Social, Trump wrote, “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American. Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???” Musk, who has financially backed Trump’s political ambitions and now plays a senior role in the administration, responded with a brief but telling, “Thank you, President.”

Michael Vaughan was all praise of the Indian cricket team's bench strength after they lifted a historic third Champions Trophy after beating New Zealand in Dubai on Sunday. Taking to social media platform X, Vaughan said that even India's second sting side could have made it to the final of the Champions Trophy. “Jaiswal, Varma, Sharma, SKY, Pant, Reddy, Sundar, Chahal, Arshdeep, Bumrah & Bishnoi… This team would have made it to the final as well IMO. The strength in Indian cricket in white-ball is off the scale,” he wrote.

The session revealed that Maharashtra faces its highest debt projection in history at Rs 9.3 lakh crore and the steepest revenue deficit of an estimated Rs estimated Rs 45,891 crores for 25-26. With not much in the bank, the budget did not annonce any new big-ticket scheme. Promises from the poll manifesto like a hike in stipend of its flagship Mukhya Mantri Majhi Ladki Bahin Yojana from Rs 1,500 to Rs 2,100 per month and a farm loan waiver, have not been given the green signal.

It said «The companies see only marginal impact and no major disruption to US business from the planned US tariffs (10-25 per cent)». The US remains a key market for Indian CDMO players, with exports worth approximately USD 9-10 billion annually. While the tariff proposal has raised concerns, Indian firms expect only a marginal impact on their business.

CBSE class 10 Mathematics examination took place on March 10. According to initial student reactions, the paper was moderately difficult. Although CBSE does not release an answer key, an unofficial answer key can be accessed by students on several educational and institutional websites. The answer key will serve as an essential resource for students to verify their answers and estimate their scores. The CBSE Class 10 Mathematics question paper had 38 questions for 80 marks. The time allowed to write the paper was 3 hours. All questions were compulsory with some questions having internal choices.

Grand Theft Auto 6 trailer 2 launch. Despite fans still analyzing the first trailer 15 months later, everyone is eagerly waiting for the second glimpse of Leonida and Vice City. Many fans believe that the second trailer could drop on April 1, and while it may sound like an April Fool's joke, there are reasons why this theory could be more believable than it seems.

WWE Hall of Fame 2025 ceremony will take place on April 18 at 10 pm (PT), WWE and its venue partner for WrestleMania 41 is Fontainebleau Las Vegas, as announced on Monday. With WrestleMania 41 on the horizon, pro-wrestling fans had been waiting eagerly for the official announcement about the date and venue for the 2025 WWE Hall of Fame ceremony.

Gabriel Macht is returning as Harvey Specter in Suits LA. He appears in a flashback scene with Ted Black in the episode Batman Returns. The series, created by Aaron Korsh, follows Ted’s journey as he runs a law firm in Los Angeles. The show has seen an increase in viewership.

Indian banks are advancing more loans than they are incrementally garnering deposits, the latest central bank data showed, pointing to only a partial success for dedicated lender programmes aimed at boosting the deposit base and de-risking the credit environment. The banking sector's incremental loan-to-deposit ratio (LDR) on a three-month rolling basis reached nearly 126% as of February 7, 2025. The incremental LDR stands at 103% so far this fiscal year, pointing to the persisting weakness in deposit mobilisation despite more circumspect advances toward unsecured loans and non-bank financing. As of February 7, credit climbed 11.3% year-on-year, while deposits saw a more modest increase of 10.6%.

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Denver Broncos are close to signing Evan Engram, one of the National Football League’s top pass-catching tight ends. The Broncos are meeting with Engram in hopes of finalising a deal to add him to their team.