RAI Financial News

loan against shares (LAS) is a way to access liquidity without selling valuable shares. This enables investors to leverage their equity portfolio to meet immediate financial needs, such as business expansion or personal expenses. How LAS works Under LAS, investors may pledge their shares as collateral to secure a loan. Banks and non-banking financial companies (NBFCs) offer this service, with the loan amount usually capped at 50% of the market value of the pledged shares. The borrower can continue to retain ownership of the shares, enjoy dividends and voting rights. However, the shares are held in a demat account, with a pledge marked in favour of the lender until the loan is repaid. The loan can be structured as a lump sum or an overdraft facility, giving flexibility to the borrower. Eligibility

shipping vessels, with the government considering removing special exemption for fishing vessels under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002, said people familiar with the matter. The government is also reviewing other provisions of the law to fast-track the recovery process, said an official. «We are in discussion with stakeholders on various aspects of the SARFAESI Act. One of them is to amend the Act for shipping vessels,» the official said.

The agency last week filed a complaint with the agency's Adjudicating Authority under relevant provisions of Foreign Exchange Management Act (FEMA) alleging that the Surat-based entity illegally transferred forex to foreign shores in the «garb of imports from the special economic zone». The complaint alleges that the agency has so far detected illegal transfers of ₹3,437 crore. According to people in the know the total amount of alleged illegal transfers is likely to reach ₹5,000 crore.

D Gukesh and Arjun Erigaise, the Indian men scored the necessary 2.5 points out of possible three against Azerbaijan in the fifth round of the 45th Chess Olympiad here on Sunday. It seems like Gukesh and Arjun can do nothing wrong in this Olympiad as they overpowered Aydin Sulemanli and Rauf Mamedov respectively with their white pieces in quick time. Praggnanandhaa played another draw on board two but that only ensured an Indian victory irrespective of the result of Vidit Gujrathi who was playing against Shakhriyar Mamedyarov. After scoring the fifth victory on the trot, the Indian men maintained a clean slate on ten points and they were joined by Vietnam who continued with their impressive show and downed Poland 2.5-1.5.

amnesty scheme to clear their dues to the authorities. Following the recommendations of the Amitabh Kant committee, the development authorities in the National Capital Region had given developers until August 31 to clear 25% of their outstanding dues and make payments towards additional farmer compensation, with certain benefits offered. Recently, the Noida authority sealed the unsold land of the Omaxe Group, as the company had outstanding dues of ₹457 crore.

Nigeria, said President Bola Tinubu on Sunday. The accident happened in Zamfara state, as farmers were trying to get to their land, said Tinubu in a statement. The president promised support for the victims and directed emergency agencies to assess the incident. Yazid Abubakar, a police spokesperson in Zamfara, told The Associated Press the accident happened on Saturday and that five people were rescued, but 40 are still missing. It was not immediately clear how many people were on the boat when it went down.

With Assembly elections due later this year in Jharkhand where a coalition government of JMM, Congress and RJD is in place, Prime Minister Narendra Modi held a rally in Jamshedpur on Sunday in which he described the three-party alliance as the biggest enemies of the state. “There are three enemies of Jharkhand. The sooner the people of the state realise this and deal with them, the faster the state will grow. These three are JMM, RJD and Congress,” he said, adding that while RJD still blames Jharkhand for Bihar’s backwardness, Congress has ignored the rights of the state and tribals for decades, and JMM does not espouse the cause of tribals.

NASA) is preparing to launch a new mission aimed at determining whether one of Jupiter's moons, Europa, can support life. The mission, known as Europa Clipper, is scheduled to launch on October 10. «In less than a month, the journey begins. @EuropaClipper is a mission crafted with one overarching goal: to determine if Jupiter’s icy moon, Europa, has conditions suitable for life. #EuropaClipper’s launch window opens on Oct. 10,» NASA announced in a tweet. According to NASA, Europa, one of Jupiter’s moons, may have the essential ingredients to support life and is believed to be as old as Earth. The Europa Clipper spacecraft will conduct a thorough exploration of Europa, focusing on whether its subsurface ocean has the potential to support life.

14-lane road near the Atal Setu sea bridge that will connect to Pune via a ring road will bring down traffic on Mumbai-Pune Expressway by 50 per cent, Union Minister Nitin Gadkari said on Sunday. The Union Minister for Road Transport and Highways was talking about road plans for Mumbai-Bengaluru at an alumni event organised by COEP Technological University on the occasion of Engineer's Day. «There is huge traffic on Mumbai-Pune Expressway. A 14-lane road will be built near Atal Setu, which will further connect to Pune via a ring road and then onwards to Bengaluru. This road will bring down traffic on Mumbai-Pune Expressway by 50 per cent,» he said.

Labour and employment minister Mansukh Mandaviya on Sunday said government is planning to converge the Employees' State Insurance Corporation (ESIC) with Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) to provide efficient treatment to ESIC beneficiaries. «Under this policy, ESIC beneficiaries will have access to quality medical facilities in more than 30,000 hospitals empanelled with AB-PMJAY,» Mandaviya said while chairing the third regional meeting with western dozen states in Rajkot on Sunday. «This will eliminate distinctions with respect to access to services offered by government, public sector and private hospitals, allowing the beneficiaries to efficiently receive treatment in any empanelled hospital,” he added.

Kharkiv in northeastern Ukraine on Sunday. «The rescue operation in Kharkiv continues. A Russian air strike. An ordinary residential building, a multi-storey building, was damaged. There is a fire and rubble between the 9th and 12th floors,» President Volodymyr Zelenskiy said on the Telegram messenger app. He posted photos of smoke and fire billowing out of the windows of a multi-storey building. All windows had been blown out.

Piyush Goyal will on Monday launch the Bharat Startup Knowledge Access Registry (BHASKAR) initiative which will serve as a central hub where startups, investors, service providers, and government bodies can come together to collaborate, exchange ideas, and accelerate growth. According to an official statement, it will also enhance collaboration among key stakeholders within the entrepreneurial ecosystem, including startups, investors, mentors, service providers, and government bodies. The primary goal of BHASKAR is to build the world's largest digital registry for stakeholders within the startup ecosystem. To achieve this, the platform will offer several key features such as networking and collaboration. providing centralized access to resources, creating personalized identification, enhancing discoverability, and supporting India's global brand.

Reliance Retail will transfer most of the fast-moving consumer goods (FMCG) brands it owns such as Campa and some of the popular private labels to the recently set up FMCG entity Reliance Consumer Products Ltd (RCPL) to rapidly scale up the business with a dedicated focus, said two industry executives. The list includes private brands such as Snactac, Puric, Glimmer, Enzo and Get Real. RCPL has also decided to set up four-five exclusive bottling plants for Campa, for which it will buy the bottling equipment and give it on lease to the partner who will own and run the operations. It is currently in talks to freeze these deals, according to the executives. The plans to scale up Campa bottling and transfer of FMCG brands comes on the back of Reliance Retail Ventures preparing for a capital infusion of up to Rs 3,900 crore into RCPL through a mix of equity and debt, as ET reported recently. RCPL recently took board approval for this.

RSS chief Mohan Bhagwat on Sunday said being Hindu means to be generous and show goodwill to everyone, regardless of their religious beliefs, caste or dietary practices. While addressing RSS workers in Alwar, he said the Hindu society is the «karta-dharta» of the country. «If something goes wrong in this nation, then it affects the Hindu society because it is the karta-dharta of the nation but if anything good happens in the country, it adds to the glory of Hindus,» he said. Bhagwat explained that what is commonly referred to as the Hindu religion is, in essence, a universal human religion.

Munirathna Naidu has been taken into custody by the City Police after they formally arrested him on Saturday on charges of hurling slurs on a member of the SC community and demanding bribes from the municipal contractor. The police intercepted his vehicle on the Karnataka-Andhra Pradesh border district of Kolar as he tried to leave the state on Saturday and arrested him after the Bengaluru police registered two FIRs against him. He was a Congress lawmaker earlier, who switched over to the BJP in 2019 along with other Congress and JDS lawmakers, helping the BJP form the government.

MBBS students drowned in a reservoir on Sunday evening in Madhya Pradesh's Panna district, an official said. The incident occurred at Dhawari dam near Ajaygarh town, some 40 km from the district headquarters, the official said. Krishna Gupta (20), a resident of Ajaygarh, and Arvind Prajapati (19) from Umaria, both MBBS students of Indore's Mahatma Gandhi Memorial (MGM) Medical College, drowned, he said. Their classmate, Abhishek Bairwa (19), who is from Pipalkheda in Rajasthan, was rescued, Ajaygarh police station in-charge Ravi Jadon said.

Arvind Kejriwal pitches for early assembly polls in Delhi, experts on Sunday said the city government may have to write to the Election Commission giving reasons behind the demand. The final decision will, however, rest with the poll panel on when to hold the polls. The term of the Delhi Assembly ends on February 23 next year and the polls are expected to be held sometime early February. Kejriwal on Sunday demanded that polls in Delhi be held in November alongside Maharashtra.

Delhi chief minister as a «confession of crime» and wondered if he offered to quit the post because of an infight within his Aam Aadmi Party. It also termed Kejriwal's move a «drama» and claimed he was playing an «emotional card» in a bid to make a virtue out of necessity as the Supreme Court by granting him a «conditional bail» in the excise policy graft case, restricted him from entering his office and signing any file. «When Arvind Kejriwal talked about resigning, it became a confession of his crime. He accepted that the charges levelled against him were such that he could not continue as chief minister,» BJP national spokesperson Sudhanshu Trivedi told a press conference at the party headquarters here. He also wondered why Kejriwal did not resign when he was arrested in connection with the scam.

Full Moon in September 2024 is almost here and it will also be know as Corn Moon, Harvest Moon. There will be a partial eclipse as well. On full Moon day which is on September 17, Tuesday, Moon will rise at 10.34 pm (ET). Meanwhile, on the same day, partial eclipse will begin at 9.55 pm (ET) and is set to peak at 10.44 pm (ET). Aries

Aishwarya Rai has been spotted in Dubai airport sans her wedding ring once more, triggering separation rumours again. The actress was in Dubai recently to attend the South Indian International Movie Awards (SIIMA). Speculations about her marriage with Abhishek Bachchan have been rife ever since Bachchan appeared at an event without his wedding ring. In an Instagram video, Aishwarya was warmly welcomed by the event organizers, and a fan presented her with flowers. As she walked to her room, holding her daughter Aaradhya close, Aishwarya looked stunning in black, though it was noticeable that she wasn’t wearing her wedding ring. For some time now, Aishwarya has been the subject of divorce rumors. The actress, who has been married to Abhishek Bachchan for over 17 years, sparked separation rumors when she attended a red carpet-event in July without Abhishek by her side. Earlier this year, both Aishwarya and Abhishek were present at the Ambani wedding, but they arrived separately. Although they reunited inside the wedding hall, Aishwarya soon went on a solo vacation after the wedding, fueling more speculation. Adding to the rumors, Abhishek «liked» a social media post about divorce, intensifying the gossip.

Group of Ministers on reworking the nomenclature for GST compensation cess is likely to be convened by Union Minister of State for Finance Pankaj Chaudhary and include members from states, an official has said. The official further said the Terms of Reference (ToR) and the members of the GoM are in the process of getting finalised. «The GoM will have to suggest how the cess collected on demerit and luxury goods will be apportioned between Centre and states and suggest the legal changes that would be required to enforce the change,» the official said. The members of the Group of Ministers (GoM) on GST compensation cess are in the process of being decided. But, since the issue is with regard to cess, which is collected by the Centre, and its apportionment, the GoM would have a member from the Centre as well, the official explained.