Techno Deshwal

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Finance Minister Nirmala Sitharaman stated on Thursday that the seven-year-old Insolvency & Bankruptcy Code (IBC) has facilitated the rescue of 3,171 distressed companies and aided in the closure of those that are unviable. She pointed out that this is a significant improvement compared to the less than 3,500 cases resolved by the Board of Industrial and Financial Reconstruction (BIFR) during its over 30-year tenure, starting from 1987. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HbVS1KO via IFTTT

Reserve Bank of India has moved 100 tonnes of gold from the UK to its vaults in India, marking a significant shift in gold storage. The transfer was for logistical and storage diversification reasons. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5lbUMCQ via IFTTT

RBI has imposed restrictions on ECL Finance and EARCL, companies of the Edelweiss group, for 'evergreening' stressed loans, where lenders extend credit to borrowers unable to repay existing loans. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/g2HswT4 via IFTTT

MSMEs are facing challenges in availability and employability of technical school graduates and diploma holders. CEOs at a roundtable emphasized the need for a common platform for recruitment and training. Automation, digitalisation, and AI can address manpower shortage and quality issues. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/49jmlMU via IFTTT

Adani Enterprises, part of Gautam Adani's Adani Group, secured board approval to raise Rs 16,600 crore ($2 billion), following Adani Energy Solutions' approval for Rs 12,500 crore ($1.5 billion), backed by investments from Rajiv Jain's GQG, Qatar Investment Authority, and TotalEnergies, overcoming challenges from a previous Hindenburg short-seller attack. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BxGUdNI via IFTTT

Adani Group chairman Gautam Adani is considering buying a stake in One 97 Communications, the company behind Paytm, as confirmed by sources. This potential deal would mark Adani Group's entry into the fintech sector, competing with major players like Google Pay and Jio Financial. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XMvmRci via IFTTT

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Sensex and Nifty faced profit booking and volatility ahead of major events, with investors cautious of knee-jerk reactions. Market awaits key economic data for near-term direction. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NELGwD9 via IFTTT

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India's agrochemical sector, currently valued at approximately USD 10 billion, is expected to experience significant growth, reaching a projected value of over USD 14.5 billion by the conclusion of the 2027-28 financial year, according to a report published by Rubix Data Sciences, an analytics services provider. However, the industry encountered a 3% decline in the recently concluded 2023-24 financial year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HEYljme via IFTTT

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Several factors could have contributed to the record profit, including the significant increase in interest rates in the United States, where the RBI invests a substantial portion of its $644 billion foreign exchange reserves (Rs 54 lakh crore). from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iAOZcx7 via IFTTT

A new paper by the World Inequality Lab proposes an annual wealth tax and an inheritance tax for those with net wealth exceeding Rs 10 crore. The paper, authored by Thomas Piketty, Nitin Kumar Bharti, and others, aims to tackle wealth concentration at the top. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UB0571s via IFTTT

Google has invested $350 million in Flipkart as part of a funding round led by Walmart, increasing Flipkart's valuation to over $35 billion. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/36Ud5GW via IFTTT

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Patients who visit a hospital for treatment provide their insurance policy details or a card issued by the third-party administrator (TPA) or insurance company. The hospital then accesses the claim processing portal of the company and uploads the required documents for pre-authorisation or claim approval. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0cRSj95 via IFTTT

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Tata Trusts appoint Noel Tata's three children, Leah, Maya, and Neville, to boards of its philanthropic entities, symbolizing a shift to involve the millennial generation in smaller Trusts for grooming towards more substantial responsibilities. Neville is affiliated with Trent, founded by his grandmother Simone, owning Westside and Zudio. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SFVgsnf via IFTTT

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PM Narendra Modi praised banks for record profits in FY24, aiding the poor, farmers, and MSMEs. Challenges like bad loan provisions, bank insolvency, and govt recapitalisation were overcome, leading to a significant banking sector turnaround. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/h7eb1v8 via IFTTT

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N Vaghul, a banking industry pioneer, passed away at 88 in Apollo hospital. He redefined ICICI, India's second-largest bank, and earned the Padma Bhushan. Vaghul led Bank of India, championed gender-neutral meritocracy, and mentored a generation of financial leaders like K V Kamath and Shikha Sharma. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/V9nyu7X via IFTTT

A finance ministry official raised concerns about the impact of futures and options trading volumes on capital market growth and household savings. The discussion included financial sector development, Nirmala Sitharaman's caution, and various financial indicators like investments in physical assets, bank advances, and mutual funds. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3HCDd1j via IFTTT

Odisha's high inflation contrasts with Delhi's lower rates, influenced by volatile vegetable prices and RBI's insights on food price uncertainties and wheat production impact. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/U9TVSOC via IFTTT

Finance minister Nirmala Sitharaman advocated for higher manufacturing investment, contrary to some economists' advice. She emphasized collaboration with the private sector and addressed Raghuram Rajan's support for a services-led strategy. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/65CAlMI via IFTTT

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Dalal Street witnessed ongoing volatility with the sensex fluctuating over 1,200 points intraday, driven by domestic fund buying. India VIX surged, FIIs sold off funds, and news of new stocks on the MSCI index hinted at fresh FPI flows. Prashanth Tapse commented on the market's volatile trading session. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lzmqIkU via IFTTT

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SBI increases short-term deposit rates by up to 75 basis points to boost liquidity, replacing wholesale deposits. The move follows GST outflows and equity sales by foreign institutional investors, pushing rivals to review rates too. Mention of MSID 110157382, public sector banks, Bank of Baroda, Yes Bank, IndusInd Bank, IDFC Bank, and Dinesh Khara's statements. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ypgrtOX via IFTTT

According to the most recent official data issued Wednesday, the unemployment rate for people aged 15 and up in metropolitan areas fell slightly to 6.7% in the January-March quarter of 2023-2024, down from 6.8% the previous year. Joblessness rate, which had soared to double digit during Covid, has stabilised over the months as curbs to ward off the pandemic lifted and economic activity gathered momentum. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hZF1bjx via IFTTT

Finance minister Nirmala Sitharaman emphasized the importance of preventing an 'explosion' in retail futures & options to maintain investor confidence amid a shift to capital markets, while also addressing dollar appreciation, rupee trade, stability under PM Modi, and promoting an investment-led growth strategy with greater openness and transparency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/fTHtiVq via IFTTT

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The income tax department introduces a new functionality in the Annual Information Statement (AIS) allowing taxpayers to view and confirm financial data affecting taxes. Taxpayers can provide feedback on displayed transactions to ensure accuracy. CBDT states that the system is operational for data from tax deductors, collectors, and reporting entities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nwTi90o via IFTTT

The Sensex experienced significant fluctuations, dropping almost 200 points before recovering and closing with a slight increase. Market sentiment is influenced by uncertainties related to polls and foreign fund selling activities. Foreign investors have sold stocks worth Rs 22,800 crore in May, while domestic investors have purchased stocks worth close to Rs 23,000 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wdFbzKv via IFTTT

Wipro is finalizing a settlement agreement with its former CFO Jatin Dalal and former healthcare head Mohd Haque, involving a lawsuit seeking Rs 25 crore from Dalal for breach of contract and a complaint against Haque for breaching non-compete agreements by joining Cognizant. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/odPp58b via IFTTT

Foreign fund managers in Mumbai are withdrawing funds due to increased market volatility caused by uncertainty about the Lok Sabha election results. Domestic institutions, especially mutual funds, have been significant purchasers on Dalal Street. Market players cite concerns related to polls and a surge in Chinese stocks as reasons for the fund outflow from India to China and Hong Kong. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/hcd8MVE via IFTTT

To fly again, the passengers who were booked have to be reconfirmed so that the flight operations resume. "As such, there is no delay on the part of the cabin crew. We also express our sincere apologies to the esteemed guests for the inconvenience caused to them," the release read. The Air India Express from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MWvqE5P via IFTTT

PM Surya Ghar Muft Bijli Yojana: The ministries of renewable energy and skill development and entrepreneurship have collaboratively developed a "skilling plan" from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vLOwl12 via IFTTT

N Chandrasekaran, the chairman of Tata Consultancy Services (TCS), highlighted in the annual report 2024 the significant impact that generative artificial intelligence (GenAI) technologies will have on various sectors and countries in the future. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sV4u39o via IFTTT

The Insurance Regulatory and Development Authority of India has given approval for a third Indian investor to hold 26% in Reliance Nippon Life, Reliance General, and Reliance Health insurance companies. This move paves the way for IndusInd International Holdings (IIHL) to acquire Reliance Capital. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/qPoYs3L via IFTTT

Numbers released by the National Statistical Office on Friday showed the index of industrial production (IIP) rose an annual 4.9% in March, slightly lower than the downwardly revised 5.6% in Feb but above the 1.9% posted in March last year. For the 2023-24 fiscal year, industrial output growth rose to 5.8% from 5.2% in the previous year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tZTuRqn via IFTTT

From an intra-day low at 72,334, sensex closed at 72,404, down 1,062 points. It was the second biggest fall this year. Nifty lost 345 points to close at 21,958 points. "Investors turned risk averse in the ongoing poll season and further lightened equity exposure to avoid being caught off guard," said Prashanth Tapse, Senior VP (Research), Mehta Equities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KNIMnts via IFTTT

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