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By Ricardo Brito

By Stefanno Sulaiman

₹1.44 trillion. Then, the state-run lender came from behind, dramatically shrinking the gap to just ₹585.5 billion in the past 12 trading sessions through 23 February, as SBI joined a rally in stocks of public sector companies. As of Friday, SBI's market cap stood at ₹6.77 trillion, against ICICI Bank's ₹7.44 trillion, Bloomberg data showed.

consumer expenditure survey indicates that poverty has come down to five per cent in the country and people are becoming prosperous both in rural and urban areas, NITI Aayog CEO B V R Subrahmanyam said on Sunday. The National Sample Survey Office (NSSO), under the Ministry of Statistics and Programme Implementation, released data on household consumption expenditure for the year 2022-23 on Saturday which shows per capita monthly household expenditure more than doubled in 2022-23 as compared to 2011-12. «This long-awaited consumer expenditure survey has brought out many things. With data on household consumption, we can assess what is the status of poverty in the country and how successful the poverty alleviation measures have been,» Subrahmanyam told reporters. «The survey findings indicate that poverty in India is below five per cent now. I am convinced with the data,» he said.

₹20,824 per month on their needs, nearly 10 times of what the persons in the bottom 5% spend ( ₹2,001), the new Household Consumption Expenditure Survey (HCES) released by the statistics ministry showed. In rural areas, the ratio is slightly narrower, at seven times ( ₹1,373 vs ₹10,501). On average, a rural person spent ₹3,773 per month in 2022-23, compared to ₹1,430 recorded in the 2011-12 survey.

Deepak Chahar claimed that he was defrauded by food delivery platform Zomato. While sharing a screenshot of his recent order, Deepak Chahar said that the order was showing delivered on the mobile application, but he never received food. When the pacer raised the issue with customer service, they denied believing him and accused Deepak Chahar of lying.

MUMBAI , NEW DELHI : Culver Max Entertainment (earlier Sony Pictures Networks India) and regional broadcaster Sun TV Networks have begun initial discussions to purchase a strategic stake in Arha Media & Broadcasting, which runs the South Indian video streaming platform aha. Arha Media, a joint venture between Geetha Arts and My Home Group, has roped in KPMG Corporate Finance as a strategic adviser, said three people familiar with the development.

Investing.com — Inflation will be in the spotlight; earnings season is winding down and oil prices look set to remain volatile. Here’s what you need to know to start your week.

«The answer to the riddle, the explanation of the paradox, may lie in this inviting glass,» Safer said, raising a glass of red wine to viewers. Doctors believed that wine had «a flushing effect» that prevented blood clot-forming cells from clinging to artery walls, Safer said. This, according to a French researcher who was featured in the segment, could reduce the risk of a blockage and, therefore, the risk of a heart attack.

9-1-1 Season 7, Bobby (Peter Krause) and Athena (Angela Bassett) face a honeymoon-turned-nightmare scenario as they grapple with a colossal emergency during their getaway. TV Insider provided an exclusive glimpse into the chaos that ensues, with Bobby desperately searching for Athena on a sinking cruise ship. The episode promises a high-stakes interruption to their vacation, and the sneak peek offers a closer look at the intensity of the unfolding events.

Virender Sehwag—widely considered one of the most destructive openers of his era—Sunday clarified his cryptic post on Dhruv Jurel for his "outstanding batting skills and temperament" after the youngster scored a magnificent knock of 90 runs of 149 balls to bail out India on Day 3 of the 4th Test against England in Ranchi. Jurel added 77 runs, alongside Kuldeep Yadav for the 8th wicket, helping India cross the 300-run mark. After Jurel’s heroic inning, Sehwag took to microblogging platform X (formerly known as Twitter) to praise the Team India wicketkeeper.

oil and gas giants including IndianOil, ONGC and GAIL (India) have been slapped fines for the third straight quarter for failing to meet listing norm requirements of having the requisite number of directors on their board. Stock exchanges have fined oil refining and fuel marketing giant Indian Oil Corporation (IOC), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiners Hindustan Petroleum Corporation Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) a cumulative Rs 32.5 lakh, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women director in the third quarter ended December 31, 2023, but were quick to point out that appointment of directors was done by the government and they had no role in it. The companies had faced fines for the same reason in the previous two quarters as well.

Ukraine war Wavering economic and military support from the West means things are likely to get worse. Ukrainian officials are increasingly nervous about the figures: cashflow, mobilisation numbers, weapons. Serhiy Marchenko, the finance minister, says he believes his country’s Western partners will come good on this year’s non-military budget of $37bn—Ukrainian taxes pay for military expenses—but he is worried about what happens next.

Nifty 50 index hitting record highs in all five sessions, buoyed by a rise in heavyweight financials. The Nifty 50 and BSE Sensex gained 0.78% and 1%, respectively, for the week, despite falling 0.02% each on Friday.

MUMBAI (Reuters) — Indians are spending less on food, particularly staples like rice and wheat, and more on discretionary items such as processed food, as well as durables like televisions and fridges, government consumption data showed.

By Nick Carey

Bloomberg. As per the report, the share of food in monthly consumption in rural areas declined to 46.4 percent in the latest survey, from 53 percent in 2011-12. The non-food consumption increased to 53.6 percent from 47 percent, the survey showed as reported by Bloomberg.

Jaideep Hansraj, CEO of Kotak Securities says investors should continue investing through SIP as timing the market is a challenging task. In an interview with Mint, he says investors need to be stock-specific or bottom-up, as the top-down approach may fail.

MILAN — While the fashion industry discusses size diversity from time to time, there was little evidence of real evolution on the Milan runway this season.

MILAN — The fashion crowd traversed Milan countless times on the third day of fashion week Friday, defying rain, traffic tie-ups and a local transport strike all in the name of the next big trend. By late afternoon, shows were running a full hour late as the fleet of black sedans, shuttles and taxis couldn’t keep up the runway pace.

He warned shareholders not to listen to advisors who urge them to trade often.