Show Financial News

Altamount Road, the SoBo Billionaires' Row that's home to Mukesh Ambani, appears to have company in India's other metro cities, such as Bengaluru and Delhi-NCR, for the uber-rich tech and startup czars to stay connected and network with one another — from the comfort of their drawing rooms or gyms and club houses for that matter. In Bengaluru, houses in the Billionaires' Street (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Sachin and Binny Bansal, Flipkart cofounders, and its CEO Kalyan Krishnamurthy along with a few Infosys co-founders and the Raveendrans. The owners of several new-age firms such as Unacademy's Gaurav Munjal, PhonePe's Sameer Nigam, Meesho's Vidit Aatrey, the Zetwerk founders dot the palm tree and Mercedes-lined APR. 'India's CTO' Nandan Nilekani, Wipro owners — the Premjis, and Rahul Dravid also own homes in Koramangala, where property rates have already built a formidable moat of exclusivity.

High Court ruling directing commercial banks to produce evidence to defaulting customers before invoking the master circular on wilful default will bring respite to small borrowers arm-twisted into settling loans, but it may also encourage large borrowers to go to courts and delay recovery, said industry experts. This landmark order delivered by the high court last week and the banking regulator's directive to banks that the defaulter be given an in-person hearing will significantly change the way banks tag borrowers as wilful, they added. A division bench comprising justices BP Colabawalla and Somasekhar Sundaresan issued the order in a case involving IL&FS director Milind Patel versus Union Bank of India.

Nirmala Sitharaman said Tuesday that Atal Pension Yojana or APY has been designed as an affordable scheme with a guaranteed pension amount. In a post on X, Sitharaman noted that the scheme has given 9.1% since inception, which is quite competitive even compared with other saving schemes. «Any upside above assured pension is completely with the beneficiary,» she noted. There were 4.53 crore subscribers under the scheme till March 4. Sitharaman observed that the feature under APY to automatically continue the premium payment unless the subscriber opts out is deliberate and a beneficial feature which is in the best interest of the subscribers. «Instead of requiring people to decide each year to continue, they have to take a decision to discontinue. This makes many of them take the right decision and save for their retirement,» she noted adding that APY maintains a robust communication channel with its subscribers. «Regular updates are sent via messages, ensuring that subscribers are well-informed about their accounts and the scheme's details,» she said in her post.

George R. Stewart's classic sci-fi novel Earth Abides as a limited series for its streaming channel. The adaptation, spearheaded by creator and showrunner Todd Komarnicki, will star Alexander Ludwig and is set to begin production in Vancouver on April 8.

Easter 2024 and Good Friday weekend is predicted to be stormy and rain-soaked one as weather forecast shows two storms to hit parts of the US. As a midweek storm lashes the Northwest, attention shifts to the looming threat of an atmospheric river storm set to engulf Southern California over the weekend. With forecasts predicting heavy rainfall and potential flooding, the National Oceanic and Atmospheric Administration (NOAA) has wasted no time in issuing a Level 2 out of 4 flash flood threat for the Los Angeles and San Diego areas on Saturday, as per a report in Fox Weather.

Recently, a working paper titled ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj,’ by Nitin Kumar Bharti, Lucas Chancel, Thomas Piketty and Anmol Somanchi was released. Sections of the Indian media lapped it up, forgetting that it is not a peer-reviewed paper; nor has it been published by any reputed journal. We present arguments here in the hope that it will leave readers better informed on inequality in India.

₹3.2 trillion, which is more than the fair value of the assets of ₹2.97 trillion, although it is less than their total claims of ₹10 trillion. The second official said once resolution professionals get tribunal orders to recover dues from corporate guarantors—mostly promoters of defaulting companies—the amounts that creditors realize under IBC will see a sharp jump.

Kejriwal on Tuesday issued his second order from Enforcement Directorate's custody, directing health minister Saurabh Bharadwaj to address essential medical services, triggering a fresh demand from the Opposition BJP for his resignation. Kejriwal directed Bharadwaj to ensure essential medicines and services for the common man at mohalla clinics and Delhi hospitals. Addressing a press conference, Bharadwaj said, «The CM has received information that people are facing difficulties in the tests carried out at mohalla clinics. He has issued me a direction in this regard. In his direction he said that free medicines are not available in some of the Delhi hospitals and mohalla clinics. Besides, free tests are also not being conducted in some of them. He has directed me to solve these issues. I want to assure the people of Delhi that even if your CM is in jail, he is only thinking about you.» Meanwhile, the AAP government said it had decided to convene a day-long session of Delhi assembly on Wednesday. However, officials in the lieutenant-governor (L-G) Vinai Saxena's office said no file had been sent for convening a special session.

Port of Baltimore. Here's what we know about the collision: BRIDGE HISTORY

The Bachelor Finale is done and the reality show's Season 28 comes to an end. Joey Graziadei grabbed all the limelight during «The Bachelor» season 28 as the lead man decided to propose Kelsey Anderson for marriage. 25-year-old Anderson is junior project manager and she is based in New Orleans, Louisiana. 28-year-old Graziadei is reportedly «teaching tennis pro».

Janalaxmi Cooperative Bank for non-compliance with regulations. The Reserve Bank found out that the bank had failed to constitute a board of management within the extended timeline granted by RBI, sanctioned credit facilities to its nominal members in excess of the prescribed limit, and, opened/renewed term deposits at interest rates higher than those offered by the State Bank of India for the same tenor. The bank was served with a show cause notice, after which the penalty was imposed in exercise of powers under the sections of the Banking Regulation Act, an official statement said. The central bank also imposed a penalty of Rs 28.30 lakh on Solapur Janata Sahakari Bank for appointing a member on its board of management who did not satisfy the 'fit and proper' criteria and failure to reconstitute the panel within the specified time and contravention of Supervisory Action Framework by the lender by sanctioning fresh loans carrying risk weights of more than 100 per cent in FY22.

At 1:27 am (ET), a container ship named the Dali was sailing down the Patapsco River when it struck a pylon of the bridge, crumpling almost the entire structure into the water. There was no indication of terrorism, police said, as per a Reuters report.

global spread of Homo sapiens. But where did these pioneers go after leaving Africa? After years of debate, a new study offers an answer. These bands of hunter-gatherers appear to have lingered for thousands of years as a homogeneous population in a geographic hub that spanned Iran, southeast Iraq and northeast Saudi Arabia before going on to settle all of Asia and Europe starting roughly 45,000 years ago, scientists said on Monday. Their findings were based on genomic datasets drawn from ancient DNA and modern gene pools, combined with paleoecological evidence that showed that this region would have represented an ideal habitat. The researchers called this region, part of what is called the Persian Plateau, a «hub» for these people — who numbered perhaps only in the thousands — before they continued onward millennia later to more distant locales.

The Nifty 50 index lost 0.42% to 22,004 but ended above 22,000 for the fourteenth session out of 17 this month. The BSE Sensex shed 0.50% to close at 72,470.

Chinese electric vehicle makers are showcasing their latest models, including a flying car, as they take on global rivals at the Bangkok International Motor Show

U.S. consumer confidence held steady this month even as Americans are still concerned about high prices and feeling less optimistic about the short-term future

Hiring woes may be easing for small businesses

Shares of Stoke Therapeutics Inc . (NASDAQ:STOK) surged more than 80% Tuesday after the company reported impressive data from the STK-001 Dravet Syndrome (DS) program yesterday.

By Lisa Shumaker

Last week, Central Banks, including the Bank of Japan, Federal Reserve, Bank of England, and Swiss National Bank held meetings.

Nearly every cryptocurrency has been facing the bearish claws of the market since last week. While high net-worth investors look towards improving their portfolio with large-cap tokens, small investors turn to coins like Shiba Inu, PEPE coin and Bitgert’s BRISE coin. The current bearish market has proposed an opportunity for investors to make gains from Shiba Inu, PEPE coin and Bitgert’s BRISE coin.