RAI Financial News

railway stations and religious places in Rajasthan and Madhya Pradesh was received at the Hanumangarh railway station, police said on Wednesday. Additional SP, Hanumangarh, Pyare Lal Meena said the letter was delivered by post to the Hanumangarh station master and the local police was informed on Tuesday evening. «It was threatened in the letter, which was in the name of Jaish-e-Mohammed, that the railway station and places in Ganganagar, Hanumangarh, Jodhpur, Bikaner, Kota, Bundi, Udaipur, Jaipur will be blown up by bombs on October 30,» he said. The sender also threatened bomb blasts at religious places in Rajasthan as well as in Madhya Pradesh on November 2.

iPhone 16 Pro Max devices from a woman passenger. The woman, who was travelling from Hong Kong, had concealed the recently launched phones inside her vanity bag, officials confirmed.

solar eclipse is set to occur on October 2, 2024. According to NASA, «On Oct. 2, 2024, the Moon will pass in front of the Sun, casting its shadow across parts of Earth.» This solar eclipse is often referred to as the "ring of fire." It is an annular solar eclipse, occurring when the Moon passes between the Earth and Sun at its farthest point from Earth. Because the Moon appears smaller than the Sun, it doesn’t completely cover it, creating a striking “ring of fire” effect in the sky.

food poisoning after consuming mid-day meal at a private school near Maharashtra's Thane city, taking the total number of minors hospitalised to 45, officials said on Wednesday. The children, aged between 8 and 11 years, were admitted to a civic hospital in Kalwa town after they complained of giddiness, nausea, headache and pain in the abdomen after lunch on Tuesday, according to medical officials at the hospital. Initially, 38 students were hospitalised on Tuesday. Seven more children were admitted to the facility late night. The children were being monitored and if found fit, they would be discharged by Wednesday afternoon, the hospital's medical in-charge, Dr Aniruddha Malgaonkar, told PTI.

Wealth managers believe investors can allocate spare money in their bank accounts to overnight funds to earn more than a savings account. WHAT ARE OVERNIGHT FUNDS? Overnight funds are a category of debt mutual funds. These schemes have a portfolio that invests in securities that mature in one day. The bonds are purchased overnight, and they mature by the following business day. Overnight funds invest in assets such as overnight reverse repos, CBLOs (Collateralised Borrowing and Lending Obligations), and money market securities that mature the next day.

Narendra Modi charged the Congress with focusing its politics solely on false promises and hoping that since it has been out of power for a decade in the state the voters will serve power to it on a platter. He reiterated his allegation that Congress is a divided house in the state and the father-son Hooda duo is depriving the Dalits and backwards of their rights. «Congress has only one formula — to not work and not allow others to work. Congress politics is confined to making false promises whereas BJP politics is based on hard work and delivering results… We focus on outcomes but Congress does not do any work. Congress feels that since a decade has passed, people of Haryana will serve power to them on a platter. It had the same misconception in Madhya Pradesh where the party started celebrating even before the results came out,» Modi said at a rally in Palwal. In neighbouring Rajasthan too, Congress had made serious attempts to instigate farmers and youth against the BJP but these plans fell flat, he added.

Haryana, the BJP is reaching out to different castes among other backward classes (OBCs) in an attempt to enlist their support, in addition to its traditional base among Brahmins, Baniyas and Punjabis. It comes as the ruling party grapples with the electoral repercussions of protests by farmers and sportspersons, opposition to the Agnipath scheme and consolidation of the Jats, the largest caste grouping in Haryana. Union minister Dharmendra Pradhan, who has managed several assembly polls for the BJP, including in the most populous state of Uttar Pradesh, has been addressing closed-door meetings with caste leaders in assembly segments where the specific caste is in sizeable numbers, said people familiar with the matter.

Tata Sons, the owner of Air India, has urged the carrier's management to proceed cautiously with the airline's ongoing merger with Vistara to avoid alienating the latter's loyal customer base. The merger is due to take effect November 12. The seamless integration of both the brands and continuity of Vistara's service standards for all its consumers unaware of the integration of the Tata Group's aviation business was a key point during an Air India meeting last Thursday. «There is this huge quality expectation from consumers after the Tatas acquired Air India. Vistara was always seen as offering superior brand experience to Air India and after the merger, Vistara consumers should not feel dissatisfied ,» said an official close to the matter. «Vistara employees have also been edgy about merging into the Air India system. Hence, there is this anxiousness that it should be a seamless merger that has no impact on the ground for consumers.»

BJP leader Amit Shah and Maharashtra deputy chief minister Devendra Fadnavis on Tuesday exhorted party cadres to begin work for the upcoming Assembly polls and expressed optimism that the ruling Mahayuti-BJP alliance in the state would retain power. «Bury your pessimism and start work again. Maharashtra elections will change the country's direction...,» Shah told party leaders and workers in Mumbai at a closed door event. «I am giving you my word that the BJP-Mahayuti government is coming back to power.» Shah gave the example of how at one time the BJP had just two parliamentarians, but now they are in power. The BJP was the only party in the last 60 years to come to power thrice, he said.

Rahul Gandhi carried out the yatra to seek votes for the party in the grand trunk (GT) road belt. The region which has paved the way for the BJP's power in Haryana. In last two assembly polls, the Congress performed poorly in this region compared to BJP. In 2014, the Congress drew blank, while BJP won 21 out of 23 assembly seats in this region and two went to others. While in 2019, the BJP won 12 seats, Congress 9 and two went to others.

artificial intelligence (AI) and technological advancements, American economist Lawrence H Summers said while cautioning against leaving technology unchecked. Speaking at the diamond jubilee event of the Delhi School of Economics, Summers highlighted how technological changes are poised to dominate economic history in the coming decades. «There's a chance we may be headed for another kind of transformative change with the spread of artificial general intelligence,» Summers said, describing AI as «the first technology that is, in a profound sense, self-improving». Unlike previous innovations like electricity or fire, which required human input for improvements, AI has potential to enhance itself and lead to exponential advancements, he observed.

e-commerce companies Flipkart and Amazon as they are engaging in predatory pricing and are burning cash to offer heavy discounts on products, traders' body CAIT and mainline mobile retailers' association AIMRA said on Tuesday. These practices, in turn, are creating a grey market of mobile phones, causing losses to the exchequer «as players in the grey market evade taxes», they said. Confederation of All India Traders (CAIT), in collaboration with the All India Mobile Retailers' Association (AIMRA), placed the demands in a white paper on the impact of e-commerce giants Amazon and Flipkart on India's retail ecosystem. AIMRA demanded suspension of operations of Chinese mobile phone companies OnePlus, iQOO, and Poco for allegedly colluding with e-commerce players.

Comptroller and Auditor General of India (CAG) Girish Chandra Murmu on Tuesday called for further bolstering local bodies, arguing that all-round development at the grass-root levels is a prerequisite for turning India into a developed India by 2047. “More than 50% people live in rural areas, and until their governance, their development, their administration, their resources are not augmented, we will not be able to reach (Viksit Bharat goal),” Murmu said. Murmu inaugurated the ICAI’s local governance synergy conclave here, aimed at strengthening government accounting at the municipal levels.

broking platform Groww has reported a net profit of Rs 297 crore in FY24, a 300% increase from Rs 73 crore in the previous year, according to filings made with credit rating agency ICRA. In FY24, its overall revenue more than doubled to Rs 2,899 crore, compared to Rs 1,294 crore in 2023. The continued growth in Groww’s client base has been supporting the scale-up in its broking volumes and earnings. Despite its foray into the margin trading facility (MTF) business, which will lead to higher dependence on borrowings, Groww’s financial leverage is expected to remain comfortable, the ICRA report noted.

insolvency law, NCLT President Chief Justice (Retd) Ramalingam Sudhakar on Tuesday stressed on the need for more manpower even as he said despite the limitations, it will show success. The National Company Law Tribunal (NCLT) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). According to Sudhakar, banks and other financial institutions file petitions containing 20-30 volumes of documents, and there are also innumerable agreements. "… the interpretation of these documents is a legal argument… please don't imagine that NCLT can do some magic by saying admit debt and default… we can't," he said in the context of delays in admitting cases under the IBC.

Maruti Suzuki India on Tuesday reported a 2 per cent year-on-year increase in total sales at 1,84,727 units in September. The company had sold 1,81,343 units in the same month last year, Maruti Suzuki India (MSI) said in a statement. Total domestic passenger vehicle sales were at 1,44,962 units as compared to 1,50,812 units in the year-ago month, a decline of 4 per cent, it added. Sales of mini segment cars, comprising Alto and S-Presso, grew to 10,363 units as against 10,351 units in September 2023.

Monsoon season 2024 ends with 7.6% more rainfall than normal with Rajasthan, Gujarat, west Madhya Pradesh, Maharashtra, Telangana and Andhra Pradesh getting excess rainfall, said India Meteorological Department (IMD) on Tuesday even as most parts of the country are expected to receive above normal rainfall. While rainfall in October could be 115% of Long Period Average (LPA), rainfall during post monsoon season October- December is expected to be 112% of LPA. Above normal rainfall during the post monsoon season may affect harvesting process standing kharif crops – paddy, pulses and oilseeds- affecting the overall productivity. The timely arrival of monsoon is good for agriculture as most of the kharif sowing takes place in the months of June and July. The southwest monsoon provides about 70% of India's yearly rain and is vital for the agriculture sector that contributes significantly to the country’s GDP and supports over half of its 1.4 billion population.

gold bracelet you're wearing might not be made of pure gold, and you might not even realize it without cutting it open. This issue came to light when an X (formerly Twitter) user shared a video revealing how gold bracelets are being made. According to the user, the bracelets are manufactured in China with very little gold, and it's difficult to determine the actual gold content without cutting them open. «Images from China have sparked discussion. They are producing bracelets using minimal amounts of gold. It’s impossible to tell if the products are real without cutting them open,» the user stated.

regulatory norms for MedTech and pharma sectors and sought industry inputs for the same, Niti Aayog member (Health) VK Paul said on Tuesday. Speaking at an Assocham event here, he said that with changing times the regulatory framework also needs to be worked upon. «Under the ages of principal scientific adviser to the Government of India, regulatory improvements for medical technology and pharma are under active consideration,» Paul said. He sought industry participation in making the system better.

Variable Dearness Allowance (VDA), resulting in a substantial increase in minimum wage rates for workers in the unorganised sector. The increased wage rate will be effective from October 1, 2024. Who will benefit from this move? How much will your minimum wage increase? Read on to find out.

CIL's coal production dropped marginally by 1 per cent to 50.9 million tonnes (MT) in September. The coal behemoth, which accounts for over 80 per cent of the domestic coal output, produced 51.4 MT in the corresponding month of the previous fiscal year, Coal India Ltd (CIL) said in a filing to the BSE. However, the PSU's coal output in the April-September period of the current fiscal year increased 2.5 per cent to 341.5 MT, over 332.9 MT in the year-ago period.