Indians reported losing Rs 11,333 cr to cyber fraud in the first nine months of 2024
Nov 28, 2024, at 04:19 am
New Delhi: India reported losses of Rs 11,333 crore due to cyber fraud in the first nine months of 2024, as per data from the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA).
Nov 28, 2024, at 03:12 am
Bengaluru: A group of e-retailers operating on major platforms like Amazon and Walmart-backed Flipkart argued before the Karnataka High Court (HC) on Wednesday that the investigation by the Competition Commission of India (CCI) into alleged anti-competitive practices exceeds the regulator's statutory authority, media reports said.
Steep rise in counterfeit Rs 500 and Rs 2,000 notes: Finance Ministry Data
Nov 28, 2024, at 02:27 am
New Delhi: Counterfeit currency detections, particularly of Rs 500 and Rs 2,000 notes, have seen a sharp rise in recent years, according to data shared by the Ministry of Finance during a recent Lok Sabha session.
Nov 28, 2024, at 02:02 am
New Delhi: Senior lawyer and former Attorney General of India Mukul Rohatgi refuted allegations against the Adani Group, stating that its founder chairman, Gautam Adani, and his nephew, Sagar Adani, have not been accused of bribery or obstructing justice in the US, media reports said.
SBI's fundraise touches Rs 50,000 cr via bonds so far in FY25
Nov 28, 2024, at 01:58 am
Mumbai: The State Bank of India (SBI) has raised a total of Rs 50,000 crore so far in the current financial year, with Rs 10,000 crore secured through its latest infrastructure bond issuance earlier this month.
Cabinet approves PAN 2.0 project, industry experts welcome move
Nov 27, 2024, at 10:41 pm
The Indian government's Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s Permanent Account Number (PAN) 2.0 Project which aims to streamline and modernise the process of issuing and managing PAN and TAN.
Honda forays into Indian E2W market; launches QC1 and Activa e:
Nov 27, 2024, at 09:25 pm
Bengaluru/IBNS: Japanese motorcycle manufacturer Honda has finally entered India's electric two-wheeler (E2W) market with the launch of its two new electric scooters — Activa e: and QC1.
Adani Wilmar said to postpone stake sale following US bribery allegations: Report
Nov 26, 2024, at 11:38 pm
Mumbai/IBNS: Adani Enterprises Ltd. and Wilmar International Ltd. have reportedly postponed plans to sell at least 12 percent of their stake in Adani Wilmar Ltd., their Indian food venture, following a US bribery indictment involving billionaire founder Gautam Adani, Bloomberg reported, citing sources familiar with the matter.
Key SEBI Regulations Shaping the Future of Brokerage in 2025
Nov 26, 2024, at 09:29 pm
The Securities and Exchange Board of India (SEBI), the country’s capital market regulator, continues to play a pivotal role in defining the framework of India’s financial markets. As we step into 2025, SEBI’s evolving regulations are expected to shape the brokerage landscape, making it more transparent, cost-efficient, and technology-driven.
Vodafone Idea shares soar 19%, other telecom stocks surge as cabinet approves bank guarantee waiver
Nov 26, 2024, at 09:04 pm
Mumbai/IBNS: Telecom stocks surged on Tuesday (Nov. 26) following reports that the Union Cabinet approved waiving bank guarantees (BGs) for spectrum purchased before 2022.
Essar group's co-founder Shashikant Ruia dies at 81
Nov 26, 2024, at 08:35 pm
Mumbai/IBNS: Shashikant Ruia, the co-founder of the Essar Group and a patriarch of the billionaire Ruia family, passed away at the age of 81, the family announced in an official statement on Tuesday (Nov. 26).
Plastonix -Vee Technologies to develop a plastic waste recycling system in Karnataka
Nov 25, 2024, at 10:38 pm
Plastonix Inc., a Canada-based, plastics recycling technologies company, has announced signing a Memorandum of Understanding (MOU) with Bengaluru and New York co-headquartered technology and IT services company Vee Technologies to pursue a 50:50 joint venture to collaboratively develop a plastic waste recycling system in India using Plastonix’s patent-pending technology.
S&P lowers India's GDP growth forecast for the next two fiscal years
Nov 25, 2024, at 10:31 pm
New Delhi/IBNS: S&P Global Ratings has maintained India's GDP growth forecast for the current financial year 2024-25 at 6.8 percent, but has revised down its growth projections for the next two fiscal years.
Adani Group assures liquidity to meet debt obligations amid legal challenges
Nov 25, 2024, at 10:28 pm
Ahmedabad/IBNS: Adani Group has reassured investors that its listed companies have sufficient cash reserves to meet debt obligations for the next 12 months.
Adani Group reports record Rs 5 lakh crore asset base with robust growth
Nov 25, 2024, at 10:24 pm
Ahmedabad/IBNS: The Adani Group has demonstrated robust financial health and consistent growth, as highlighted in its H1 FY25 and Trailing-Twelve-Month (TTM) results.
Sensex soars 1,300 points in post-poll rally; Adani stocks surge with flagship firm gaining 4%
Nov 25, 2024, at 07:32 pm
Mumbai/IBNS: Indian stock markets rallied sharply on Monday (Nov. 25) following the BJP-led NDA's decisive victory in the Maharashtra assembly elections, which includes Mumbai, India’s financial hub.
Nov 23, 2024, at 09:31 pm
New Delhi/IBNS: India is unlikely to import Japan’s Shinkansen, or bullet train, for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) corridor, seven years after the project's launch, Moneycontrol reported.
RBI directs banks to reduce speculative trading against rupee: Report
Nov 23, 2024, at 07:29 pm
Mumbai/IBNS: In a rare intervention, the Reserve Bank of India (RBI) directed certain banks on Friday (Nov. 22) to reduce their long positions in the dollar-rupee trade to counter speculative activities affecting the rupee, which has fallen to an all-time low, Reuters reported, citing its sources.
India’s forex reserves record nearly $18 billion drop in a week amid investor exit
Nov 23, 2024, at 06:36 pm
Mumbai/IBNS: India's foreign exchange reserves witnessed a record decline of nearly $18 billion during the week ending November 15, as global investors continued to withdraw funds from Indian stock markets.
After US fraud indictments over bribery allegations, Adani Group faces global fallout
Nov 23, 2024, at 06:03 pm
Mumbai: Gautam Adani, chairman of the Adani Group, has been indicted by U.S. prosecutors, along with seven others, for allegedly paying bribes amounting to Rs 2,029 crore ($265 million) to Indian officials to secure solar power contracts across four states and a union territory.
India plans $5 billion incentive scheme to boost local electronics manufacturing
Nov 23, 2024, at 05:04 am
New Delhi: India is set to introduce an incentive program worth up to $5 billion to encourage domestic manufacturing of components for gadgets such as mobile phones and laptops, media reports said.
Adani Group faces potential funding challenges after US bribery indictment
Nov 23, 2024, at 02:56 am
New York: Gautam Adani’s conglomerate is staring at a possible funding crunch after a US arrest warrant was issued against the billionaire founder over an alleged $265 million bribery scheme, according to a Reuters report.
Mahindra teases sketches of BE 6e, XEV 9e
Nov 22, 2024, at 11:09 pm
Automobile major Mahindra has unveiled teaser sketches of its upcoming Electric Origin SUVs named the BE 6e and XEV 9e.
Ather Energy Limited unveils ‘Eight70 Warranty’ for the battery of its electric scooters
Nov 22, 2024, at 10:55 pm
EV scooter manufacturer Ather Energy Limited has introduced ‘Eight70 Warranty’ for its Ather 450 series and Rizta scooters, in collaboration with Reliance General Insurance.
Bitcoin soars to all-time high, nearing the $100,000 milestone
Nov 22, 2024, at 09:27 pm
New York/IBNS: Bitcoin extended its bullish run on Friday (Nov. 22), reaching a record high of $99,300, edging closer to the much-anticipated $100,000 mark.
Mukesh Ambani's Jio loses nearly 80 lakh subscribers in just 30 days; BSNL emerges as a gainer
Nov 22, 2024, at 08:19 pm
Mumbai/IBNS: Reliance Jio, India's largest telecom operator, suffered a significant blow in September, losing an alarming 7.97 million subscribers, according to the latest report by the Telecom Regulatory Authority of India (TRAI).
Sensex surges over 1,000 points as Adani Group stocks stage strong rebound
Nov 22, 2024, at 08:08 pm
Mumbai/IBNS: India’s stock market saw a robust recovery on Friday (Nov. 22), with benchmark indices rallying significantly during intraday trade.
Ola Electric likely to lay off 500 employees amid financial struggles: Report
Nov 22, 2024, at 07:57 pm
Bengaluru/IBNS: Ola Electric, currently facing controversies, a government investigation, and rising losses, is reportedly preparing to lay off around 500 employees as part of a restructuring initiative, reports Inc42.
Kenya cancels Adani airport and energy deals following US bribery indictment: Report
Nov 22, 2024, at 05:49 am
Nairobi: Kenyan President William Ruto announced on Thursday the cancellation of multimillion-dollar airport and energy deals with Indian tycoon Gautam Adani, following US bribery and fraud indictments against the billionaire, according to the Associated Press.
Why is US probing Gautam Adani over allegations of bribery in India?
Nov 21, 2024, at 11:34 pm
Mumbai: Adani Group chairman Gautam Adani, along with seven others, has been indicted by U.S. prosecutors for allegedly paying bribes amounting to Rs 2,029 crore ($265 million) to officials in India to secure solar power contracts across four states and one union territory.