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Stock market update: Sugar stocks down as market falls

The 30-share BSE Sensex was down 507.08 points at 77071.3

The Economic Times 21 Nov 2024 10:30 am

United Spirits shares 0.72% as Nifty

A total of 2,452 shares changed hands on the counter till time (IST).

The Economic Times 21 Nov 2024 10:30 am

ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers

The CBDT has released a new circular on condoning delays in filing ITR, replacing previous guidelines, effectiveOctober 1, 2024.

Livemint 21 Nov 2024 9:34 am

Best aggressive hybrid mutual funds to invest in November 2024

As per Sebi norms, these schemes must invest 65-80% in stocks, and 20-35% in debt. This mixed portfolio helps to deal with the market volatility better. When the equity market is in turmoil, the debt part of the portfolio softens the blow. This helps new investors to continue with their investments without worrying too much about volatility.

The Economic Times 21 Nov 2024 9:29 am

'If India Can Make Sensors for Rockets, it Can Make for Cars Too'

Speaking at the Bengaluru Tech Summit on Wednesday, S Somanath said that if Isro can produce space-graded sensors for its rockets, then the country's automobile industry can collaborate with the space agency and manufacture vehicle sensors indigenously.

The Economic Times 21 Nov 2024 8:14 am

CM Naidu fulfills promise: Rs 60k cr BPCL project to come up near Andhra port

The refinery project is a big win for N Chandrababu Naidu, whose Telugu Desam Party (TDP) provides crucial support to the Bharatiya Janata Party-led National Democratic Alliance (NDA) government at the Centre. It headed Naidus agenda when he met the Prime Minister on his first visit to New Delhi on July 5 after being sworn in as chief minister.

The Economic Times 21 Nov 2024 5:30 am

Credit Cards: Can't access an airport lounge? One of these 5 points may explain the reason

Credit Cards: Several cards give access to airport lounges but often times, there are limits to the number of times you can access these lounges within a time frame.

Livemint 21 Nov 2024 2:34 am

Personal Loan: You may consider borrowing for these 5 reasons. Check list here

Personal loan: It's common to raise a loan for a number of reasons which include, but not restricted to, organising a wedding, buying a luxury item, going on a vacation and getting a house renovated, and buying expensive furniture, et al.

Livemint 21 Nov 2024 12:54 am

Korba to get NTPC-BHEL's 800 MW hi-tech power plant

NTPC and BHEL are considering Korba, Chhattisgarh, as the location for India's first 800-MW advanced ultra-supercritical (AUSC) power plant. The estimated cost for the high-efficiency plant is 15,000 crore. The final decision will follow feasibility studies and approvals from relevant ministries. This indigenous technology promises higher efficiency and reduced emissions compared to existing power plants.

The Economic Times 21 Nov 2024 12:19 am

Banks seek more collateral for Vi LCs, putting its upgrade plans in jeopardy

Vodafone Idea's network upgrade plans face potential delays as banks demand additional collateral for issuing letters of credit to equipment suppliers. Despite claims of sufficient funds for the fiscal year, banks remain cautious due to Vi's substantial debt, including AGR dues. This situation could hinder Vi's ability to compete effectively with rivals like Jio and Airtel.

The Economic Times 21 Nov 2024 12:16 am

'Online platforms changing buying pattern among urban consumers'

Sales volume of ready-to-eat foods topped growth on quick-commerce channels, expanding 52% in the July-September quarter compared with a year earlier. Sales of salty snacks and refined edible oils grew 41% each, followed by biscuits (40%) and packaged atta (39%), Bhagwat.

The Economic Times 21 Nov 2024 12:08 am

Norms to be eased to let more pvt banks collect PF money from companies

The Employees' Provident Fund Organisation (EPFO) is poised to relax regulations, enabling more private banks to collect provident funds. This initiative aims to streamline business operations for companies, enhance convenience for subscribers, and expedite fund transfers for the retirement body.

The Economic Times 21 Nov 2024 12:00 am

Model city logistics plans for Bengaluru & Delhi finalised to improve freight efficiency

The DPIIT finalised model city logistics plans for Delhi and Bengaluru. The plans aim to improve urban freight efficiency and reduce logistics costs. The plans were developed with support from the Delhi and Karnataka governments. They are based on international best practices and provide guidelines for other Indian cities.

The Economic Times 20 Nov 2024 11:58 pm

LG Electronics, vendors ready Rs 7k-cr India infusion

LG Electronics will invest Rs 5,000 crore, and its Korean and Chinese parts suppliers the remainder, the executives said. LG, India's largest home appliances maker by sales, has sought 300 acres from the Andhra Pradesh government for the project which will generate over 1,500 direct jobs, the executives said asking not to be named.

The Economic Times 20 Nov 2024 11:47 pm

Aircel-Maxis Deal: Delhi HC stays trial against Chidambaram

The Delhi High Court has temporarily halted the trial court's proceedings against former Union Minister P. Chidambaram in the Aircel-Maxis money laundering case. Chidambaram, who challenged the trial court's acceptance of the Enforcement Directorate's complaint, will await the next hearing date. The case revolves around alleged irregularities in a 2006 investment deal approved during Chidambaram's tenure as Finance Minister.

The Economic Times 20 Nov 2024 11:33 pm

Telecom Right of Way rules must for states from Jan 1

The Department of Telecommunications (DoT) has mandated states to implement the new right-of-way (RoW) rules for telecom infrastructure starting January 1, 2025. These rules, effective nationwide, aim to expedite 5G rollout and streamline infrastructure deployment by simplifying approval processes, setting charge limits, and enabling digital management of applications.

The Economic Times 20 Nov 2024 11:21 pm

NCLT grants approval to Mahindra Homes share capital reduction plan

Mahindra Homes, a joint venture between Mahindra Lifespace Developers and Actis, has received approval from the National Company Law Tribunal (NCLT) for its capital reduction proposal. The move, which involves canceling certain equity shares, will optimize capital allocation without impacting ongoing projects or homebuyer interests.

The Economic Times 20 Nov 2024 11:20 pm

Airtel renews 4G, 5G contracts with Nokia

Bharti Airtel has partnered with Nokia in a multi-billion dollar deal to expand its 4G and 5G network infrastructure. The deal involves deploying Nokia's advanced 5G equipment, including base stations and energy-efficient technology. This strategic move aims to enhance network capabilities and attract subscribers in a competitive market.

The Economic Times 20 Nov 2024 11:17 pm

DPIIT finalises model city logistics plans for Delhi, Bengaluru to enhance urban freight efficiency

India developed model city logistics plans for Delhi and Bengaluru. The plans aim to enhance urban freight efficiency and reduce logistics costs. The initiative drew inspiration from international best practices, particularly from Japan and European countries. The plans aim to address congestion, pollution, and logistics costs.

The Economic Times 20 Nov 2024 9:45 pm

Balancing risk and reward: A hybrid approach to retirement savings

Considering you have 18 years to retirement, you can consider a combination of BAFs and aggressive hybrid funds to generate better risk-adjusted return.

Livemint 20 Nov 2024 7:52 pm

GNFC, INEOS UK to form 50:50 JV to build major acetic acid plant in India

India's GNFC and UK-based INEOS Acetyls International are joining forces to establish a major acetic acid production facility in India. The 50:50 joint venture will leverage INEOS's technical expertise and GNFC's market knowledge to operate the plant and distribute domestically produced acetic acid, boosting India's chemical manufacturing capabilities.

The Economic Times 20 Nov 2024 7:30 pm

Personal Loan: Want to raise 10 lakh? EMI to fluctuate with these two factors; check calculator here

Personal loan: If you want to raise 10 lakh to go on a vacation to the US, your monthly instalment on the loan will depend on the rate of interest that the bank charges and the tenure of repayment

Livemint 20 Nov 2024 7:11 pm

Balaji Telefilms appoints Sanjay Dwivedi as Group CEO

Balaji Telefilms has made two major leadership appointments. Sanjay Dwivedi, the current Group CFO, has been elevated to the position of Group CEO. Vimal Doshi, with a long tenure at Balaji, has been named COO of Balaji Motion Pictures. Dwivedi has been with Balaji Telefilms since 2013 and has a strong financial background.

The Economic Times 20 Nov 2024 6:28 pm

Atishi launches Delhi solar portal; will help power consumers become 'prosumers'

Delhi Chief Minister Atishi launched the 'Delhi Solar Portal' to simplify rooftop solar panel installations, aiming to achieve 750 MW of solar power generation. The portal provides a centralized platform for information, vendor lists, subsidy applications, and net metering, encouraging residents to become prosumers by generating and contributing excess solar power to the grid.

The Economic Times 20 Nov 2024 6:09 pm

Wockhardt chairman seeks GST exemption for antibiotics discovered in India

Wockhardt founder sought GST exemption for antibiotics discovered in India. He said this will make the drugs more affordable. The statement was made at an event to celebrate the scientific completion of the first indigenously developed antibiotic Nafithromycin. Nafithromycin is the first macrolide antibiotic in 30 years for community-acquired bacterial pneumonia.

The Economic Times 20 Nov 2024 5:54 pm

iPhone 17 Air: Will this be Apple's thinnest phone yet?

Apple is developing the iPhone 17 Air, aiming for an ultra-slim 6mm profile, making it potentially the thinnest iPhone ever. Expected to launch in 2025, it may feature an aluminum body, a 6.6-inch display, and Apple's A19 chip for powerful performance. Camera features could include a 48MP rear camera and a 24MP front camera.

The Economic Times 20 Nov 2024 5:52 pm

Top 5 mid cap funds with up to 30.85% returns in 5 years

The Economic Times 20 Nov 2024 5:39 pm

Adani Energy Solutions signs pact to acquire 100 pc stake in Pune- III Transmission

Adani Energy Solutions Ltd (AESL) is acquiring Pune- III Transmission Ltd (PTL) from PFC Consulting Ltd to establish new substations and a transmission line. This acquisition will enable the evacuation of 7 GW of renewable energy from Gujarat's Khavda RE Park and aligns with AESL's strategy of enhancing shareholder value.

The Economic Times 20 Nov 2024 4:49 pm

FM bats for rate cut: Should you lock an FD at the current interest rates? Check the latest rates here

In case RBI's six-member core policy committee cuts the repo rate in its Dec meet, the lending rates would follow suit. So would be fixed deposit interest rates. Given all this, depositors are recommended to lock their FDs at the prevailing interest rates

Livemint 20 Nov 2024 4:22 pm

Datta Power Infra signs MoU to invest Rs 5,000 cr in RE sector in Rajasthan

Datta Power Infra has committed to investing 5,000 crore in Rajasthan's renewable energy sector. The company signed an MoU with the state government to establish 1,000 MW of solar, wind, and hybrid power projects. These projects, spanning six districts, are projected to create 500-750 jobs.

The Economic Times 20 Nov 2024 4:21 pm

Hope slowdown in urban discretionary demand is a blip, not structural: Sula Vineyards CEO

Sula Vineyards experienced a 1.2% dip in net revenue in Q2, attributed to a temporary slowdown in urban discretionary spending, particularly impacting alcoholic beverages. CEO Rajeev Samant believes this is a temporary blip and anticipates a demand reset in 2024 as consumers face inflation.

The Economic Times 20 Nov 2024 4:14 pm

13 stocks from which mutual funds made complete exit in October. Do you own any?

According to monthly data from Prime Database, they made a complete exit from 13 stocks in October.

The Economic Times 20 Nov 2024 4:06 pm

Pros and cons of personal loans: Is borrowing right for you?

Personal loan: It provide quick access to funds without collateral, making them versatile for various needs. However, they come with high interest rates and strict eligibility requirements. Understanding the pros and cons is essential for making informed financial decisions.

Livemint 20 Nov 2024 3:57 pm

Sony launches PlayStation 5 cloud streaming on PlayStation Portal

Sony has launched a new software update for its PlayStation Portal handheld gaming device, enabling cloud streaming for PlayStation 5 games. Available globally, the update allows PlayStation Plus Premium subscribers to stream select PS5 games directly to their Portal, eliminating the need for a PS5 console.

The Economic Times 20 Nov 2024 3:57 pm

Personal Loan: What you need to know about processing fees and hidden charges

Personal loan: To make informed financial choices, borrowers must understand the total costs of personal loans, including interest rates and processing fees. Consulting a financial advisor and comparing multiple lender offers can help identify the best deal.

Livemint 20 Nov 2024 3:41 pm

Yes Bank partners with Vegapay to provide credit line on UPI

Yes Bank has partnered with Vegapay to launch a new platform called 'Credit Line on UPI'. This platform will allow YES Bank to offer customised credit programs to its customers through UPI. The platform is expected to help bridge the credit gap in India by providing seamless credit solutions to a wider audience.

The Economic Times 20 Nov 2024 3:33 pm

A fintech startups challenges with Indias vaunted account aggregator framework

India's account aggregator system faces critical gaps three years after it was rolled out, particularly in data sharing among banks and fintech startups.

Livemint 20 Nov 2024 3:27 pm

Equity mutual funds deliver up to 55% return in one year. Do you own any?

ETMutualFunds analyzed 261 equity mutual funds and found that some have delivered impressive returns, with up to 55% growth in the past year. The top performers include Motilal Oswal Midcap Fund, which gained 54.94%, Invesco India Focused Fund with 49.56%, and Bandhan Small Cap Fund with 49.26%. These funds stand out for their strong one-year returns.

The Economic Times 20 Nov 2024 3:18 pm

Attrition rates in private sector banking industry have been significantly high: RBI study

If banks lose talented employees, especially at the junior and frontline levels, they are not just losing people they are losing experience, customer relationships, and operational continuity: RBI Deputy Governor

The Hindu Businessline 20 Nov 2024 3:00 pm

NFO Alert: Franklin Templeton Mutual Fund launches long-duration fund

Franklin Templeton Mutual Fund has launched the Franklin India Long Duration Fund, an open-ended debt scheme aiming to generate long-term returns by investing in debt and money market instruments with a Macaulay duration greater than seven years. The NFO is open until December 4, offering regular and direct plans. The scheme is suitable for long-term capital appreciation and income generation.

The Economic Times 20 Nov 2024 2:52 pm

22K gold rates today: Check gold jewellery rates of Malabar Gold, Joyalukkas, Kalyan Jewellers, Tanishq

Latest 22K gold rates today: Purchasing hallmarked jewellery provides a third-party assurance of the purity of gold for the quoted price. Let's examine the prices of 22 karat gold of a few famous jewellery brands in India as of November 20, 2024.

The Economic Times 20 Nov 2024 2:36 pm

After Sachin & Narayana Murthy, RBI Governor seen doling out investing advice in a deep fake video

Deep fake: This is not the first time when fraudsters tried fleecing gullible investors with the aid of a public figure's video. Prior to this, social media has witnessed videos of Sachin Tendulkar, Mukesh Ambani and NR Narayana Murthy doling out investing advice to the public

Livemint 20 Nov 2024 2:28 pm

JSW Group chairman says govt studying request for temporary tax on China steel dumping

They are studying it, they are looking at it favorably, that's all I hope. The process is on consultation with user industry. We haven't heard back (from the ministries) yet, Jindal said.

The Economic Times 20 Nov 2024 2:22 pm

What PPFAS Mutual Fund bought and sold in October

PPFAS Mutual Fund manages an asset base of Rs 93,354 crore as of October 2024 and has around 6 mutual fund schemes.

The Economic Times 20 Nov 2024 2:16 pm

Raheja Developers moves NCLAT against insolvency

Raheja Developers is facing insolvency proceedings initiated by flat buyers of its Gurugram-based Shilas project. The buyers allege a default of Rs 112.90 crore due to non-delivery of units. Raheja Developers, however, claims the delay was due to unforeseen circumstances. The case is now before the National Company Law Appellate Tribunal (NCLAT).

The Economic Times 20 Nov 2024 2:12 pm

Reliance Brands' MD Darshan Mehta, key for premium business, likely to step down

Darshan Mehta, Managing Director of Reliance Brands, is stepping down after almost two decades. Mehta will transition into a mentorship role within the Reliance Group, guiding future leaders and exploring new business ventures. A team of senior executives will manage Reliance Brands until a successor is appointed.

The Economic Times 20 Nov 2024 2:03 pm

Have you validated your Mutual Fund KYC yet?

KYC validation is crucial for mutual fund investments. An incomplete KYC can hinder new investments and complicate current management. Use your PAN and Aadhaar to validate your KYC for smooth investing.

Livemint 20 Nov 2024 2:01 pm

48% credit card users solely rely on online shopping; over 80% benefit from e-commerce offers during festive season

Credit card users significantly prefer online shopping during festive sales, with over 48% relying solely on credit cards for online purchases. Discounts and offers on platforms like Amazon and Flipkart, along with cashback options, drive this shift in consumer behavior.

Livemint 20 Nov 2024 2:00 pm

Govt plans new rules to check vehicle speed, improve road safety; Here's how it will work

The government is finalising new rules to regulate radar equipment used in traffic speed enforcement. Under the Legal Metrology (General) Rules, 2011, the regulations will mandate verification and stamping of radar devices to ensure compliance with industry standards and accurate speed measurement. Developed with input from stakeholders and aligned with international benchmarks, the initiative aims to improve road safety and enhance enforcement.

The Economic Times 20 Nov 2024 1:41 pm

Planning to retire with an equity-heavy portfolio? History warns against it.

A year or two of poor initial returns wont affect a conservative retirement portfolio. But for an aggressive one, those initial losses will be damaging even if there is a strong recovery in equities.

Livemint 20 Nov 2024 1:36 pm

Airtel gives 4G, 5G gear extention deal to Nokia

Nokia secured a multi-billion dollar deal with Bharti Airtel to deploy 4G and 5G equipment across major Indian cities. The agreement will see Nokia utilize its latest 5G AirScale portfolio and ReefShark technology to bolster Airtel's network capacity and coverage. This partnership aims to deliver an enhanced user experience while promoting energy efficiency and reducing environmental impact.

The Economic Times 20 Nov 2024 1:22 pm

Meet the Acharya brothers; they helped enable DVDs, now they are turning cars into computers

Indian-American brothers, Shrinath and Shrikant Acharya, revolutionized DVD playback on laptops with their company, Margi Systems. Their solution, licensed globally, decrypted DVDs, enabling movie enjoyment on the go. Later acquired by Harman, they spearheaded in-vehicle connectivity, a precursor to today's software-defined vehicles. Now, their technology connects numerous vehicle components to the cloud, simplifying complex systems for major automotive manufacturers worldwide.

The Economic Times 20 Nov 2024 1:00 pm

Latest FD premature withdrawal charges 2024: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Yes Bank vs Bank of India

FD premature withdrawal charges of top banks: Banks allow customers to make premature withdrawal of fixed deposits (FD), but usually with a penalty. Here is a look at the penalty charges of SBI, HDFC Bank, ICICI Bank, PNB, Canara Bank, Bank of India and Yes Bank for premature withdrawal of FD. (Information as per banks websites as on November 20, 2024).

The Economic Times 20 Nov 2024 12:56 pm

Acer opens flagship retail store in Ahmedabad

Acer, the Taiwanese IT hardware giant, has launched its largest experiential retail store in Ahmedabad, India, featuring its extensive range of laptops, desktops, and newly introduced consumer appliances.

The Economic Times 20 Nov 2024 12:45 pm

Income Tax Department reduces time allowed to apply for old income tax refunds; check the new time limit

ITR Filing: The Central Board of Direct Taxes recently issued a circular for condonation of delay in filing ITR. The latest circular has reduced the time limit for applying for condonation of delay. This condonation of delay request is filed by a taxpayer to claim old income tax refunds and carry forward of losses and set off.

The Economic Times 20 Nov 2024 11:35 am

National Association of Realtors to set up National Multiple Listing Service in India

The National Association of Realtors (NAR) India has joined forces with Universal Consulting Opportunities (UCO) to establish a National Multiple Listing Service (MLS) in India. This collaboration aims to bring transparency and efficiency to the Indian real estate market by creating a centralized property listing system, similar to the successful model used in Florida, USA.

The Economic Times 20 Nov 2024 11:11 am

Credit card expiration: What happens when your card expires?

Credit cards have expiry dates, beyond which they cannot be used. Issuers set these dates for security upgrades and to prevent wear and tear. Check the expiry on the card and statements, renew subscriptions, dispose of expired cards safely, and keep contact details updated with the issuer.

Livemint 20 Nov 2024 10:50 am

12 smallcap stocks that mutual funds exited in October: Heres a breakup

According to AMFI, companies ranked from the 251st position onwards in market capitalization are considered small-cap companies.

The Economic Times 20 Nov 2024 10:47 am

MF Query: How to deploy Rs 15 lakh lump sum investment in current market conditions

Given the current volatility and instability in equity markets, SIP is the ideal strategy for mutual fund investments. For a Rs 15 lakh lump sum, it's advisable to park the funds in a liquid or ultra-short-term fund and set up a Systematic Transfer Plan (STP) to a small-cap fund. This approach will help benefit from rupee cost averaging while navigating market fluctuations.

The Economic Times 20 Nov 2024 10:31 am

Godrej buys 53-acre land in Kolkata to develop Rs 500 crore residential project

Godrej Properties has purchased a 53-acre plot in Kolkata's Joka neighborhood with plans to create a residential development. The project is anticipated to bring in about Rs 500 crore in revenue and span an estimated 1.3 million square feet of saleable space.

The Economic Times 20 Nov 2024 10:22 am

Delhi Pollution: Coal plants' target miss to add to the deadly smog

India's efforts to combat severe air pollution face a setback as most coal-fired power plants are expected to miss a deadline for installing sulfur-dioxide emission control equipment. The delay, attributed to high costs and potential power disruptions, raises concerns about public health and the effectiveness of pollution control measures.

The Economic Times 20 Nov 2024 10:16 am

Best value funds to invest in November 2024

If you are new to value investing, you should acquaint yourself with this style of investing and its merits and demerits. A value investor tries to choose stocks that are available at cheaper valuations.

The Economic Times 20 Nov 2024 9:45 am

How should investors evaluate an NFO?

Mutual fund industries are experiencing rapid growth, leading to a surge in new fund offers (NFOs). Investors are advised to carefully evaluate NFOs against their investment needs and portfolio strategies. Unlike IPOs, NFOs guarantee full allotment and are priced at 10 per unit, offering a different investment avenue.

The Economic Times 20 Nov 2024 8:35 am

Are banks open or closed today in Maharashtra due to State Assembly Elections 2024?

Maharashtra Assembly election 2024 today: The Maharashtra government has declared a public holiday today (Wednesday, November 20, 2024) throughout the state on account of Assembly elections. All banks, government offices and other related organisations will be closed today. However, online transactions can be carried out as usual despite bank branches being closed.

The Economic Times 20 Nov 2024 6:00 am

India faces potential summer shortage of ACs, fridges due to BIS refusal of Chinese suppliers

India may have a shortage of air conditioners and refrigerators by summer 2025. The Bureau of Indian Standards has not recertified over 50 component suppliers in China and Vietnam. This decision aims to promote local manufacturing. The appliance industry relies on imports for essential parts like compressors and motors.

The Economic Times 20 Nov 2024 5:30 am

NCR residents look for second home in the hills to escape smog

The rising demand for second homes in serene locations like Kasauli and Rishikesh is a direct result of increasing pollution levels in the NCR. Homebuyers are seeking refuge in these destinations, drawn by their clean air, natural beauty, and peaceful environments, said Amar Kapoor, founder of Terra Grande by Eldeco Group, which is developing vacation homes at Kasauli and Rishikesh.

The Economic Times 20 Nov 2024 12:46 am

South realtors like Prestige Group, Puravankara and Sobha eyeing Mumbai property market

Buoyed by the realty bull run, enough opportunities have emerged for more players to participate here. During the last downturn many developers have fallen by the wayside. Infrastructure projects have added to the geographical expanse of Mumbai. These factors are contributing to an increase in opportunities for everyone, said Gulam Zia, senior executive director, Knight Frank India.

The Economic Times 20 Nov 2024 12:30 am

Marriages and shopping in Oct-Dec may spur 40% hike in spends, boost retail demand

Parthip Thyagarajan, cofounder of WeddingSutra, a nuptial services directory provider, feels there is heightened pressure and awareness, with social media documenting everything that is worn. The number of functions have increased, even if it's an intimate wedding. The middle class that mostly had Bollywood as reference has enough style inspiration from the Ambani wedding to actors paparazzi pictures.

The Economic Times 20 Nov 2024 12:26 am

Insolvency and Bankruptcy Board of India proposes several changes in latest paper

The Insolvency and Bankruptcy Board of India (IBBI) has put forward changes to liquidation rules, aiming to make the process smoother. These changes include simplifying bidder participation in auctions and allowing voluntary liquidation even with uncalled capital, aiming for quicker resolutions.

The Economic Times 20 Nov 2024 12:24 am

Bancassurance useful, curb mis-selling: IRDAI Chief

India's insurance regulator, IRDAI, urged banks to address concerns regarding mis-selling of insurance products through their channels. This follows Finance Minister Nirmala Sitharaman's criticism of banks prioritizing insurance sales over core banking activities. While acknowledging the role of bancassurance in expanding insurance coverage, both Sitharaman and IRDAI chief Debasish Panda emphasized the need for ethical practices and customer-centric approaches.

The Economic Times 20 Nov 2024 12:16 am

SBI asks RBI to let it run two lines of factoring operations

State Bank of India has requested the Reserve Bank of India for permission to conduct factoring business both within the bank and through its subsidiary, SBI Global Factors. SBI argues that the two entities serve different client bases, with the bank focusing on large overseas clients and the subsidiary catering to smaller local companies.

The Economic Times 20 Nov 2024 12:11 am

Performance-linked pay revised for PSB brass

As per the notification, the scheme shall come into force from FY24. To qualify, banks must meet at least three criteria, including a positive return on assets (RoA), net NPAs (non-performing assets) below 1.5%, a capital to risk-weighted asset ratio (CRAR) exceeding the regulatory requirement by 200 basis points, and a cost-to-income ratio of no more than 50%.

The Economic Times 19 Nov 2024 11:55 pm

Ampin, CIP expand India green energy partnership

Ampin Energy Transition announced a second partnership with Copenhagen Infrastructure Partners (CIP) to develop approximately 2 GWp of renewable energy projects across India, with an investment exceeding $300 million. This collaboration aims to build a renewable energy asset base valued at around $1.5 billion.

The Economic Times 19 Nov 2024 11:39 pm

Trai to release spectrum recommendations for satellite broadband by December

India's Telecom Regulatory Authority (TRAI) is expected to announce its recommendations on spectrum allocation for satellite broadband providers by December. The TRAI is currently evaluating stakeholder feedback and international best practices to determine whether to allocate spectrum through auction or administrative processes, with a decision expected to impact companies like Starlink and Amazon's Project Kuiper.

The Economic Times 19 Nov 2024 11:28 pm

Irdai urges bankers to focus on core job, not sell insurance alone; avoid mis-selling

Debasis Panda, IRDAI Chairman, urged bankers to prioritize their core functions and avoid solely focusing on insurance sales. While acknowledging the benefits of bancassurance in expanding insurance penetration, Panda highlighted concerns about mis-selling and emphasized the need for ethical practices. He stressed the importance of restoring confidence in the system through collaborative efforts between banks and insurers.

The Economic Times 19 Nov 2024 9:54 pm

Top seven coins under $10 to buy now for the upcoming altcoin season

Several cryptocurrencies priced under $10, including Rexas Finance, Shiba Inu, and Cardano, are attracting investors seeking significant returns during the anticipated altcoin season. These tokens offer diverse opportunities, from real-world asset tokenization to meme-coin innovation and blockchain scalability solutions. With strong presale momentum, strategic partnerships, and growing community support, these cryptocurrencies are well-positioned for substantial growth in the coming months.

The Economic Times 19 Nov 2024 8:49 pm

Adani Infra To Buy 30.07% Stake In PSP Projects For Rs 685 Crore

Adani Infra's acquisition involves a five-year lock-in period on existing stakes and rights for first refusal post-sale.

Bloomberg Quint 19 Nov 2024 8:30 pm

Increasing NGEL capacity to 19 GW a top priority, says NTPC CMD

NTPC aims to boost its green energy arm, NGEL's, capacity to 19 GW by March 2027. NGEL launched a Rs 10,000 crore IPO to fuel this expansion, with plans to add 6 GW in the current fiscal year, followed by 11 GW in FY 2025-26. The IPO received a 33% subscription on its first day.

The Economic Times 19 Nov 2024 8:22 pm

Can a private trust benefit a differently abled child?

Establishing a private trust for a differently abled child allows parents to control asset management and distribution, ensuring funds are used for specific needs like medical care and education, while protecting resources from mismanagement.

Livemint 19 Nov 2024 8:07 pm

Deepika Padukone, Ranveer Singh rent an apartment in Mumbais Prabhadevi

The couple has rented the apartment on the 24th floor of Beau Monde Towers with a built-up area of 3,245 sq ft and a carpet area of 2,319.50 sq ft, along with three dedicated car parking spaces in the residential complex.

The Economic Times 19 Nov 2024 7:37 pm

TotalEnergies, Oil India to collaborate on methane emissions detection

TotalEnergies and Oil India Ltd (OIL) partnered to detect and measure methane emissions at OIL's sites using TotalEnergies' AUSEA technology. This collaboration aligns with the Oil and Gas Decarbonization Charter, which both companies support, aiming for near-zero methane emissions by 2030. AUSEA, a drone-mounted gas analyzer, represents a significant advancement in emissions detection and measurement accuracy.

The Economic Times 19 Nov 2024 7:26 pm

Credit card: Can you be sued for not paying your credit card bill?

When a credit card user doesn't clear his/her bill on time, it leads to a negative entry in the defaulter's credit report, thus jeopardising their creditworthiness.

Livemint 19 Nov 2024 7:17 pm

Adani Infra to buy 30% stake in PSP Projects for $81 million

Adani Infra, owned by Gautam Adani's flagship company, is set to acquire a 30.07% stake in PSP Projects for $81.2 million. The deal will be followed by an open offer for further stake acquisition. This move strengthens Adani Group's presence in the infrastructure sector, adding PSP Projects' $800 million order book to its portfolio.

The Economic Times 19 Nov 2024 7:00 pm

Air India Phuket to Delhi flight: 5 hours journey turns into a 4-day stranding for passengers; AI responds

An Air India flight from Phuket to Delhi faced technical problems and delays. The flight was initially delayed for almost a day. After a brief flight, the aircraft returned to Phuket due to a technical issue. Passengers were provided accommodation and meals. Some passengers were accommodated on other flights. Air India is working to fly the remaining passengers to Delhi.

The Economic Times 19 Nov 2024 6:55 pm

CEO is the least paid employee of a start-up, says Greptile's Daksh Gupta who advocated 84-hour workweek

Daksh Gupta, a 22-year-old Indian-American, is the founder and CEO of Greptile, an AI firm, which has already raised $5.3 million. He recently shot to prominence after his post on X, where he backed an 84-hour workweek.

Livemint 19 Nov 2024 6:30 pm