RAI Financial News

transition finance, aimed at helping high carbon-emitting industries fund their shift towards decarbonisation at lower interest rates. One of the suggestions made by stakeholders, including banks, is to create a specific fund set up by state-run financial institutions for lending and refinance to smaller and emerging companies, said people aware of the developments. «The proposed fund structure aims to help smaller companies scale up green operations and secure lower-cost credit, tied to meeting specific carbon emissions reduction targets,» said an official, who did not wish to be identified, adding that it would be easier to monitor smaller firms to ensure that they are following norms and not greenwashing.

ticket prices for the Lord's Test involving India and England next summer have been increased again despite a tepid response from the fans for the game against Sri Lanka this season. Lord's owner Marylebone Cricket Club had come in for criticism for the ticket prices for this summer's Test between England and Sri Lanka. The five-match Test series between India and England begins on June 20 with the third game scheduled at Lord's from July 10. The cheapest tickets for the Lord's Test involving India are priced at 90 pounds each and they offer restricted views. For the unrestricted views, the fans will have to shell out anything between 120-175 pounds, reported ESPNcricinfo.

Kanpur (UP): Elaborate security arrangements have been made for the India-Bangladesh second Test match to be played at the International Green Park stadium here scheduled from September 27, a senior official said on Tuesday. An FIR was filed against 20 members of the Akhilesh Bhartiya Hindu Mahasabha on Monday for allegedly organising a 'havan' by obstructing the road before the stadium to protest against atrocities on Hindus in Bangladesh, Additional Commissioner of Police (Law and Order) Harish Chander said. Meanwhile, the players of both the teams arrived here and were escorted to the hotel from Chakeri airport amidst tight security, he said. The teams will hold their practice sessions on Wednesday and Thursday at the Green Park stadium, which is approximately 1,500 metres from the hotel, he added.

loan fraud of Rs 21 crore in Bank of Baroda and Standard Chartered Bank, officials said. Surender Kumar, who was declared «proclaimed offender» by a special court in August last year, had allegedly transferred the loans to his two firms on the basis of a forged Letter of Credit (LC), they said. He was involved in the diversion of funds in conspiracy with promoters of the borrower company during 2009-17, the agency alleged. «The CBI had registered a case on 23.03.2021 on complaint of AGM, Stressed Asset Management Branch (SAMB), Bank of Baroda, alleging that Directors/Guarantors of a private company (borrower), the said private company and unknown public servants and private persons committed fraud during the period 2009-2017 to the tune of Rs 21.21 crore (approx) in the loan accounts of Bank of Baroda and Standard Chartered Bank,» a CBI spokesperson said.

Odisha's Keonjhar district, a 70-year-old woman named Pathuri Dehury was compelled to crawl nearly two kilometers from her home to the panchayat office to collect her old-age pension, as she is unable to walk due to her health. A video of Dehury crawling along the village road has since gone viral on social media. Raisuan gram panchayat sarpanch Bagun Champia reported that he alerted the administration after seeing the woman’s struggle on television and in newspapers. «I have also verified from the villagers that the woman is not able to walk properly due to her age-related aliment,» the Sarpanch said.

US consumer confidence unexpectedly dropped in September on labor market concerns, according to survey data published Tuesday, signaling dampening optimism about the economy as November's presidential election approaches. That could prove challenging for Democratic Vice President Kamala Harris given the economy remains a top issue for voters ahead of the election, in which she is running against Republican former president Donald Trump. The Conference Board's consumer confidence index fell sharply to 98.7 in September, down from a revised 105.6 last month.

NBCC on Tuesday moved the Supreme Court seeking to develop and complete embattled realty major Supertech Limited's 17 stalled or partially built projects where around 27,000 hassled home buyers are stuck for years. These 17 projects were launched in the National Capital Region, Dehradun and Bengaluru but completion of the residential units was hit due to financial crisis faced by the realty major which led to insolvency proceedings since 2021. A bench of Justices Sanjiv Khanna and Sanjay Kumar was told by advocate ML Lahoty, appearing for the hassled home buyers, that the National Buildings Construction Corporation Ltd (NBCC) has come forward with a proposal to complete these stalled projects having around 51,000 residential units. Senior advocate Gopal Jain, appearing for NBCC, said the public sector undertaking has filed an intervention application in a matter related to insolvency proceedings of Supertech Ltd to develop the stalled project on the lines of Amrapali Group.

Sardar Sarovar Dam in Gujarat rose to 138.31 metres on Tuesday, only a few centimetres from its overflow mark due to increased inflow amid rains in neighbouring Madhya Pradesh, officials said. With around 74,000 cusecs of water discharged downstream, the dam recorded a water level of 138.31 metres at 6 pm, just a few centimetres short of the full reservoir level of 138.68 metres, an official from the Sardar Sarovar Narmada Nigam Limited (SSNNL) said. Authorities opened five radial gates and supplied water to run the riverbed powerhouse to release water downstream. As per official data, the dam is receiving around 1.15 lakh cusec water.

finance ministry on Tuesday said the Supreme Court has disposed of 573 direct tax cases after the monetary limits for filing appeals were revised in the Budget. The Union Budget 2024-25 provided for an enhanced monetary limit for filing appeals related to direct taxes, excise and service tax in the tax tribunals, high courts and the Supreme Court and the limits were increased to Rs 60 lakh, Rs 2 crore, and Rs 5 crore, respectively. «The Hon'ble Supreme Court today disposed of 573 direct tax cases where the tax effect is less than Rs 5 crore, in view of the revised monetary limit of filing of appeals,» the finance ministry said. This significant milestone aligns with the government's efforts to reduce tax litigation and promote ease of doing business, it added.

AAP leader Kailash Gahlot said he is former chief minister Arvind Kejriwal's 'Hanuman' and will clear all his pending works, as he took charge in the Atishi-led Delhi government on Tuesday. This comes a day after Chief Minister Atishi referred to the Hindu epic Ramayana and said her situation was like that of Lord Ram's brother Bharat who had to rule Ayodhya after Lord Ram went into exile for 14 years. «It is Tuesday today, the day of Hanumanji, and I will work like Hanuman of Arvind Kejriwal and clear all his pending works. The AAP worked well under his leadership and tried to establish Ram Rajya,» Gahlot said after taking charge as the minister for transport, home, administrative reforms and women and child development. The AAP MLA from Najafgarh has retained the same portfolios he held in the Kejriwal-led government.

Karnataka Governor Thaawarchand Gehlot accorded sanction for investigation against Chief Minister Siddaramaiah has its origins more than three decades ago. The case pertains to alleged allotment of compensatory sites to Siddaramaiah's wife B M Parvathi in an upmarket area in Mysuru, which had higher property value as compared to the location of her land which had been «acquired» by the MUDA. The MUDA had allotted plots to Parvathi under a 50:50 ratio scheme in lieu of 3.16 acres of her land, where it developed a residential layout. Under the controversial scheme, MUDA allotted 50 per cent of developed land to the land losers in lieu of undeveloped land acquired from them for forming residential layouts.

SBI Mutual Fund has extended the closure date of SBI Nifty 500 Index Fund NGO to September 26. The original closing date was September 24. The fund house informed about this to its unitholder through a notice-cum-addendum. The fund house mentioned that the closing date for the new fund offer period of SBI Nifty 500 Index Fund, an open ended scheme replicating / tracking Nifty 500 Index, has been extended from September 24 to September 26. The new fund offer or NFO of the scheme is open for subscription from September 17.

underground Metro or aqua line between Aarey Colony and Bandra-Kurla Complex will be commissioned soon, subject to safety clearance, a senior official said on Tuesday. The 12.5 km stretch between Aarey Colony and BKC is part of the 33.5 km Colaba-Seepz-Aarey Metro Line 3. Addressing a press conference, Ashwini Bhide, managing director for Mumbai Metro Rail Corporation (MMRC), said the Metro Line 3 is poised to be commissioned very soon, subject to clearance by the Commissioner of Metro Railway Safety (CMRS). She said of the two necessary approvals, they have already received the nod for rolling stocks (Metro train), while the application for the rail line is pending approval.

With heavy weapons including mortar shells, the violence hit Kurram district near the border with Afghanistan where the same tribes fought in July. «The conflict, initially over land, involves two tribes — one Sunni and the other Shia — which has turned the dispute into a sectarian clash,» a senior administrative official stationed in Kurram told AFP on condition of anonymity.

The unidentified official reportedly held a position at the Disaster Prevention and Mitigation Department in Ang Thong province in central Thailand, reported The South China Morning Post. According to the newspaper The Thaiger, the official did not attend his government job for about 10 years because he had been focused on his singing gig at a nightclub.

WBJEEB at wbjeeb.nic.in/anm-gnm.

Digital payments startup Cashfree Payments has appointed Nitin Pulyani as the head of product and a senior vice president in the company. Pulyani was with fintech startups like PhonePe and Jupiter in his previous roles. Prior to that he worked at companies like Ola, NeoGrowth, and TaxiForSure. He is an alumnus of the Indian School of Business and Institute of Technology (Banaras Hindu University), Varanasi. This appointment follows the recent hiring ofHarsh Gupta as Cashfree’s chief revenue officer.

Motilal Oswal asserted in a report. Of those estimated Rs 40 trillion investment potential, Rs 34 trillion is expected in capital expenditure and the rest in optionality, with the generation, transmission, and smart metering accounting for an estimated 86 per cent, 10 per cent, and 4 per cent. The tailwinds driving this «mammoth» investment are power demand accelerating at a higher CAGR, upgrading or replacing old power infrastructure as the electricity mix undergoes a shift, and transitioning to cleaner energy sources.

hilsa fish being sent to India is not a gift but an export aimed at generating foreign currency for Dhaka, reported TOI. Syeda Rizwana Hasan, adviser to the Ministry of Environment, Forests, and Climate Change, stated that they did not want to close the door on discussions with India over minor issues. «The decision came from the top level,» she said, emphasising that the export value of hilsa was significant and should not be underestimated. «The price has already increased so it's not accurate to say prices will rise further due to export. This matter is under govt's consideration,» noted the TOI report.