RAI Financial News

Fintech company BharatPe on Monday said that it had settled the two-year-old legal dispute with cofounder Ashneer Grover. As part of the settlement, Grover will neither be associated with the company in any capacity nor be a part of its shareholding as part of a settlement agreement signed between them, BharatPe said in a statement. Part of the shares held by Grover will be transferred to the Resilient Growth Trust for the benefit of the company and remaining shares will be managed by his family trust.

Security forces on Monday extended the ongoing search operations to new areas in Jammu and Kashmir's Kathua and Rajouri districts to hunt down terrorists following recent encounters in the region, officials said. While a policeman and a terrorist were killed and two police officers injured in a fierce gunbattle in remote Kog-Mandli forest village in Billawar tehsil of Kathua district on Saturday evening, a brief exchange of fire took place between terrorists and security forces in Manial Gali in Thanamandi area of Rajouri district on Sunday evening. A massive search operation is going on for the third day in Kathua with cordon extending to over a dozen other villages near the scene of Saturday's encounter, the officials said. They said at least three more foreign terrorists of Pakistan-based Jaish-e-Mohammad (JeM) are believed to be hiding in the forest belt.

Atishi, along with other MLAs and members of the Aam aadmi party, including former Delhi Deputy Chief Minister Manish Sisodia and Delhi Minister Gopal Rai inspected the condition of roads in the national capital on Monday. She inspected the condition of roads in the Okhla area of the national capital. This is part of the Delhi government's road assessment and repair plan.

Union Budget 2024 included several significant proposals, which have been ratified in the Finance Bill. Some of these changes will come into effect from October 1. These changes included revised TDS rates applicable from October 1, 2024.

Union Minister Arjun Ram Meghwal has said that the Opposition can't reinstate Article 370 and accused them of misguiding the people of Jammu and Kashmir on this. «They (the opposition) can't bring it again (Article 370). They are just misguiding people; the way they did during the Lok Sabha elections by saying that we (the BJP) will finish the constitution. How can the Constitution be finished? Good governance and development--these are the two agendas, based on which we are contesting and will win this election,» Meghwal told reporters here. While Congress is silent on Article 370, its alliance partner, the National Conference, promised restoration of the Article in its manifesto.

tax audit report has been extended to October 7, 2024 for those taxpayers who are required by law to conduct an income tax audit of their accounts and submit the audit report on or before September 30, 2024. The report is required to be submitted online on the e-filing ITR portal. This extension is important as the penalty for submitting a tax audit report after the deadline is Rs 1.5 lakh or 0.5% of total sales, whichever is lower. “Central Board of Direct Taxes (CBDT) has decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07thOctober 2024,” said the Income Tax Department in a circular released on September 29, 2024.

Donald Trump escalated his personal attacks on his Democratic rival, Kamala Harris, on Sunday by repeating an insult that she was “mentally impaired” while also saying she should be “impeached and prosecuted." Trump's rally Sunday in Erie, Pennsylvania, took on similar themes as an event one day earlier that he described himself as a “dark speech.” He told a cheering crowd that Harris was responsible for an “invasion” at the U.S.-Mexico border and «she should be impeached and prosecuted for her actions.” “Crooked Joe Biden became mentally impaired,” he added. “Sad. But lying Kamala Harris, honestly, I believe she was born that way. There’s something wrong with Kamala. And I just don’t know what it is but there is definitely something missing. And you know what, everybody knows it.”

Indian banks expect growth in festive period spending through credit cards to be in high single-digits as consumer demand remains subdued, several card issuers and merchants said. «Right now, it's not like the mood is bullish for a big festive season, it seems like wait and watch,» said Sanjeev Moghe, head-cards & payments, Axis Bank. «It's a different market when the economy is growing at 12-15% and it's not growing at that pace. In my own discussion with merchants, I am not sensing a bullish mood. But we are hoping that consumers could positively surprise us.» For the festive period of October to December 2023, banks had recorded credit card spends of nearly ₹4.87 lakh crore. During the October to December 2022 period, banks saw total spends of ₹3.69 lakh crore. In one year, banks had seen growth in credit card spending of over 30%.

Union home ministry has extended the validity of FCRA registration for non-governmental organisations with pending renewal applications until December 31. The notice cautioned NGOs whose renewal application has been either denied or their FCRA licence cancelled from receiving or utilising foreign grants. In a public notice, the ministry said the validity of the registration of those FCRA entities whose validity had been extended till September 29 and whose renewal application is pending, will stand extended up to December 31 or till the date of disposal of renewal application, whichever is earlier. It also said the validity of those entities whose five-year validity period expire by October 1 to December 31, but have applied for renewal before expiry of the validity period, will stand extended up to December 31 or till the disposal of the application, whichever is earlier.

Tottenham piled more pressure on Erik ten Hag's position as Manchester United manager with a dominant 3-0 win at Old Trafford on Sunday. Spurs made a flying start when Brennan Johnson tapped in from Micky Van de Ven's storming run after three minutes. Tottenham should have added to their lead long before United were reduced to 10 men when captain Fernandes was shown a straight red card on 42 minutes.

project investments. According to the data released by the ministry of commerce and industry the state was successful in attracting foreign direct investments worth $8.5 billion in the June quarter. While Karnataka was a distant third in attracting investments worth $ 2.3 billion and Gujarat was third with inflows worth $1.02 billion during the quarter. An analysis over a longer period shows that the pace of growth in such flows has slowed down in FY'2023-24 for Maharashtra posting a modest growth of 2 percent, while flows in states like Gujarat and Jharkhand posted an over 50 percent growth.

Bhajanlal Sharma gave approval for the Rajasthan Investment Promotion Scheme-2024 during a cabinet meeting on Sunday. Deputy Chief Minister Diya Kumari, while briefing the media about the decisions, said that the government aims to attract maximum investment for the Rising Rajasthan Global Investment Summit scheduled to be held from December 9 to 11. In this context, the cabinet approved the Rajasthan Investment Promotion Scheme 2024 (RIPS-2024), which she stated is the most attractive investment promotion scheme in the country in terms of incentives for investors. She said necessary provisions have been made in RIPS-2024 to attract investment.

HCLTech, Nitin Edwin Michael, passed away after suffering a cardiac arrest at the company’s Nagpur office, marking another incident around health concerns in a workplace. The 40-year-old employee collapsed in the washroom around 7 pm on Friday and was found unresponsive by colleagues, who immediately rushed him to the All India Institute of Medical Sciences (AIIMS), Nagpur, PTI reported. Unfortunately, doctors pronounced him dead upon arrival.

Congress is looking to go all out to wrest power from the Bharatiya Janata Party (BJP) in Haryana, party leader Rahul Gandhi will be campaigning in the state over the next few days, covering several districts, in what is likely to take the shape of a «yatra». This will be the second leg of his campaigning in Haryana for the October 5 Assembly polls. Gandhi addressed poll rallies at Assandh in Karnal and Barwala in Hisar on Thursday. Sharing a tentative schedule of his campaign programme, sources in the Congress said Gandhi, who is likely to be joined by party leader Priyanka Gandhi Vadra, will launch the second leg of his poll campaign from Naraingarh in Ambala district by addressing a public meeting on Monday.

FIR against Union Minister Nirmala Sitharaman and others for allegedly extorting money through electoral bonds, Karnataka Minister Congress leader Priyank Kharge slammed Finance Minister Nirmala Sitharaman over electoral bonds, accusing her of 'architecture' of that bill. Speaking to ANI, Karnataka Minister Priyank Kharge said, «The Supreme Court has already told that the electoral bonds are illegal and unconstitutional. The same has been filed here in Karnataka. There are instances where they have forced companies into Quid pro quo and the architect of all this is the finance minister and that's what the complaint has said.» «The court has upheld for the complaint. Let the investigation happen, What are they so scared of?...» he questioned BJP.

CRPF personnel, including an officer, were injured in an improvised explosive device (IED) blast triggered by Naxals in Chhattisgarh's Bijapur district on Sunday, officials said. The incident occurred in the Tarrem police station area around 7 am when a squad of the Central Reserve Police Force's (CRPF's) 153 battalion was out on a de-mining exercise, a police official said. The squad belonged to the Chinnagelur CRPF camp in the area.

Almost eight sessions have been lost in the game due to persistent rain that has played havoc with the final match of the two-game series. Questions on the drainage system used at the venue have been duly raised. Bangladesh had ended the rain-shortened opening day at 107 for 3.

India is taking steps to address mental health issues at workplaces, a majority of employees believe companies could do more to improve their overall well-being, a survey report said on Saturday. Over 79 % of those participated in the survey opined their organisations could do more to address mental health issues and well-being, according to the report by HR services and workforce solutions provider Genius Consultants. «We must recognise that employee well-being is not just a trend, but a crucial aspect of organizational success. The data reveals that a significant number of employees are grappling with anxiety and feeling overwhelmed in their work environments. Companies need to take proactive steps to foster a supportive atmosphere that prioritises mental health and work-life balance,» Genius Consultants Chairman and Managing Director R P Yadav said.

GE Aerospace plans to boost component sourcing from India as the aviation sector in the country expands. GE Aerospace already operates a manufacturing facility in Pune and the John F Welch Technology Centre in Bengaluru. The company currently partners with 13 major suppliers, including Tata Advanced Systems Ltd (TASL). Mahendra Nair, Group Vice President for Commercial Programs at GE Aerospace, mentioned the growing importance of India's role in their supply chain. Nair told PTI in an interview that, «We have got some very capable companies in India with the right engineering talent, the right production footprint and as long as they can meet the technical standards that we are looking for, it is only upside and it is going to grow.» Nair added, «India is a market that is going to grow and that makes sense for us to continue sourcing more from India.»

NLC India has said it is in the process of participating in the upcoming auctions of critical mineral resources and aims to achieve the annual capacity of mining one million tonnes of such materials by 2029-30. NLC India's core business include mining of coal and lignite as well as power generation. Having critical mineral capacity assumes significance amid increasing demand of these resources for a wide range of activities from semiconductor manufacturing to renewable energy projects, including those related to production of solar panels, wind turbines and advanced batteries for storage and transportation. «With the recent developments in renewable energy sector and the strategic importance of the critical minerals required for RE (renewable energy), we are in the process of participating in upcoming auctions and envision achieving a critical mineral mining capacity of 1.0 MTPA by 2029-30,» the company said in its recent report.

North Korea, which has been accused of illegally supplying weapons to Russia, said on Sunday that U.S. military aid worth $8 billion to Ukraine is «an incredible mistake» and playing with fire against nuclear superpower Russia. U.S. President Joe Biden announced the new aid as Ukraine President Volodymyr Zelenskiy visited Washington to help Kyiv defend itself, including longer-range weapons that will upgrade its ability to strike Russia from safer distances. Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, said Washington is escalating the Ukraine conflict and driving all of Europe to the brink of a nuclear war.