RAI Financial News

monsoon season has concluded with 7.6 per cent more rainfall than the normal average, according to the India Meteorological Department (IMD). Several states, including Rajasthan, Gujarat, west Madhya Pradesh, Maharashtra, Telangana, and Andhra Pradesh, experienced excess rainfall. The monsoon is vital for India's agricultural sector, as 52% of the net cultivated area relies on it. Additionally, this rain-bearing system plays a crucial role in replenishing reservoirs that supply drinking water and support power generation across the country.

NCLAT) has upheld the tribunal’s order to approve the SKS Power Generation (Chattisgarh) Ltd’s acquisition by BSE-listed Sarda Energy & Minerals Ltd (SEML). The unsuccessful bidders of SKS Power Generation (Chattisgarh) including Torrent Power Ltd, Jindal Power Ltd and Vantage Point Asset Management Pte. had approached the appellate tribunal to challenge the lower tribunal’s order. “We do not find that any sufficient grounds have been made out within the meaning of Section 61(3)(ii) of the IBC to interfere with the decision of the adjudicating authority (NCLT) approving the resolution plan of Sarda, in these appeals filed by unsuccessful resolution applicant,” observed the bench preceded by Justice Ashok Bhushan and technical members Barun Mitra and Arun Baroka.

bilateral meeting with Jamaican counterpart Andrew Holness in New Delhi. The bilateral meeting was followed by delegation-level talks between the two leaders. Visiting Prime Minister of Jamaica met PM Modi at Hyderabad House here in the national capital earlier today.

dry days coincide with major national holidays and religious festivals, following an official order issued by Excise Department Commissioner Ravi Jha.

JSW MG Motor India on Tuesday reported an 8 per cent year-on-year decline in retail sales at 4,588 units in September. The automaker had sold 5,003 units in the same month last year. The new energy vehicles (NEVs) continue to contribute significantly to the total sales of the company, accounting for 49 per cent of the sales last month, JSW MG Motor India said in a statement. The company said it will be moving to the Vaahan Portal from October 2024.

Employees may be worried that the relaxation in TDS compliance given to companies might impact the timely deposit of the tax against their respective PANs. Recently, there have been cases of companies such as SpiceJet and Byju's failing to deposit TDS with the government in time leading to employees facing income tax problems. Earlier, the companies had 60 days from the original due date to deposit the pending TDS (tax deducted at source). But from October 1, 2024, the new income tax laws give companies more time to do this. From October 1 onwards, companies can deposit TDS with the government till the deadline to file the TDS return. However, if the TDS is deposited after the original due date then, penal interest would have to be additionally paid. This means an additional 20 days to make the TDS deposit i.e., 60 days from original due date plus 20 more days.

Care Health Insurance on Monday decided to retain Rashmi Saluja as chairperson of the board despite demand for removal by Burman family-controlled companies. The Burman family is a major shareholder of Religare Enterprises, the holding company of Care Health Insurance. The directors of Care Health Insurance Limited (CARE) reviewed the communication dated September 27, 2024, received from the proposed acquirers of Religare Enterprises Limited (REL), demanding the removal of Rashmi Saluja from the Board of Directors, the health insurance said in a statement. «In light of a legal opinion received by CARE, the Directors agreed that there exists no cause for removal of Rashmi Saluja and a suitable response is being sent to the proposed acquirers accordingly,» it added.

Girls’ Frontline 2: Exilium, developed by Sunborn Network Technology, is an upcoming free-to-play gacha game. Set in a futuristic world, players can now pre-register to receive rewards before the game’s official launch.

Annual Survey of Industries (ASI) released on Monday showed. There were 18.5 million persons engaged in factories in 2022-23 compared to 17.2 million in 2021-22 and 16.3 million in 2018-19, as per the survey released on Monday by the Ministry of Statistics and Programme Implementation (Mospi) and Niti Aayog. The gross value added (GVA) grew 7.3% to ₹22 lakh crore in FY23 while output rose 21.5% from a year earlier. «It gives us confidence that India can actually aim for 9% plus growth,» Niti Aayog chief executive BVR Subrahmanyam said after the release of the report.

infrastructure industries shrank 1.8% in August from a year earlier, the first contraction in 42 months, compared with 6.1% expansion in the preceding month, according to the official data released on Monday. Experts blamed heavy seasonal showers in August over large swathes of the country, on top of an unfavourable base effect, for the slump. Given their 40% weight in the index of industrial production (IIP), the poor show by the infrastructure industries could limit the August index of industrial production (IIP) expansion to just 1-1.5%, against 4.8% in July, experts said. IIP data for August will be released on October 12. Apart from steel and fertilisers, six of the eight industries-coal, crude oil, natural gas, refinery products, cement and electricity-remained in the negative zone in August, the latest data showed.

polling in the UT of Jammu and Kashmir will be held on Tuesday. More than 39.18 lakh voters are eligible to exercise their electoral franchise across the 40 assembly constituencies, 16 in the Kashmir valley and 24 in the Jammu region. This is the first assembly election in J&K since the abrogation of Article 370 of the Constitution in August 2019, with the results set to be announced on October 8. Key Contests Kupwara: People Conference’s Sajad Gani Lone Vs PDP’s Mir Mohammad Fayaz Vs NC’s Nasir Aslam Wani Vs Independent Candidate Pirzada Firdous Ahmad

tariff fixation for existing private terminal operators at ports administered by the central government, officials said. The move is aimed at giving flexibility to private operators in deciding tariffs. As per the tariff migration guidelines being firmed up, all public-private partnership (PPP) concessionaires will be allowed to frame their own Scale of Rates (SoR) and shift to market-based tariffs, a government official told ET. «This will usher in a level playing field among public-private partnership terminal operators that have been adhering to multiple tariff regimes,» the official said.

Dr Lal PathLabs, India's largest diagnostic chain, is looking at a potentially large acquisition to increase its foothold in south India. If the asset is of a strategic fit, it could look at a deal size of Rs 3,000 crore-Rs 4,000 crore, said a senior company official. «We have around Rs 1,000 crore (net) cash, we can leverage our balance sheet, we can use our equity, size will not hold us,» said Ved Prakash Goel, group CFO, in an interview to ET. «There are people who are there in the market, the (valuation) expectation is high,» Goel said. Dr Lal is typically looking at assets with Rs 300-400 crore revenue, with the right revenue mix, good quality and governance practices. It has formed an M&A team to evaluate potential acquisition opportunities in the market.

Gyeongseong Creature lands on Netflix, viewers are left buzzing with excitement, especially after the intriguing post-credits scene in the season finale. While the series, set against the backdrop of historical Korea, has transitioned to the present day, it is evident that the narrative is far from over. The finale not only concluded several ongoing storylines but also left numerous questions unanswered, setting the stage for a potential Gyeongseong Creature Season 3, as per a report by Screenrant.

Shibasish Sarkar has been unanimously re-elected as the president of the Producers Guild of India (PGI) for the third consecutive term at its 69th Annual General Meeting (AGM) held in Mumbai on September 27, 2024. The AGM also witnessed the re-election of Manish Goswami and Madhu Bhojwani as Vice Presidents, while Ashim Samanta and Fazila Allana were re-elected as Treasurers. Additionally, Aashish Singh, Dipti Kotak, and Ankur Garg were elected as Vice Presidents, fortifying the leadership team.

UP government has sought explanations from various district administrations for their poor performance in the disposal of the people's complaints received through the Integrated Grievance Redressal System (IGRS), CM Helpline, and “Sampoorna Samadhan Diwas”. According to a press release, CM Yogi Adityanath has been receiving reports regarding delays and inaction in the matter relating to the people’s grievances for the past several days. The government has identified such districts and asked the DMs and SSPs concerned to give explanation in all such matters. The government may act against the officers who failed to ensure proper disposal of the people’s grievances received through different means. The matter relating to the delay in the disposal of people’s grievances came to the light during a review meeting held recently by the CM Yogi Adityanath. At the meeting, CM Yogi asked about the performance of different districts in addressing the people’s grievances which were received through IGRS, CM Helpline and Sampoorna Samadhan Diwas.

AFSPA) by another six months in Manipur excluding 19 police station areas falling under the Imphal valley and a region that shares its boundary with Assam. In a notification, the state government's Home Department said the extension will come into effect from October 1. «The state government is of the opinion after analysing the prevailing law and order situation in the state that it is not expedient to have a detailed assessment on the ground as security agencies are preoccupied with maintenance of law and order,» the notification said. The issue of declaration of Disturbed Area status is very sensitive and may likely attract public criticism and resistance if proper care is not taken, it said.

Amit Shah on Monday described Congress president Mallikarjun Kharge's remarks on Prime Minister Narendra Modi at a public meeting in Jammu and Kashmir as «absolutely distasteful and disgraceful». Shah said «in a bitter display of spite», Kharge unnecessarily dragged the prime minister into his personal health matters by saying that he would die only after removing Modi from power. At an election rally in Jasrota in Jammu on Sunday, Kharge felt dizzy and uneasy but resumed his speech after a brief pause, saying he won't die before PM Modi is removed from power. Shah hit out at Kharge over his remarks.

Vladimir Putin on Monday vowed that Moscow would accomplish all goals it has set for itself in Ukraine, in its third year of conflict. «The truth is on our side. All goals set will be achieved,» Putin said in a video message released to mark the second anniversary of what Russia calls «Reunification Day», when Moscow annexed four Ukrainian regions. After it sent troops into Ukraine in February 2022, Russia annexed the regions of Lugansk, Donetsk, Zaporizhzhia and Kherson. It does not fully control all territory in these regions.

DY Chandrachud admonished a lawyer for using the informal term «yeah» while addressing the bench in a court session. The Chief Justice emphasized that such casual language is inappropriate in a courtroom setting. The incident occurred when the lawyer mentioned a 2018 petition in which former Chief Justice of India Ranjan Gogoi was named as a respondent. Chief Justice Chandrachud questioned the validity of filing a Public Interest Litigation (PIL) against a judge. The lawyer responded, «Yeah, yeah, the then CJI Ranjan Gogoi… I was asked to file a curative...» However, he was interrupted by the Chief Justice, who said, «This is not a coffee shop! What is this yeah yeah. I am very allergic to this yeah yeah. This cannot be allowed.»