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Finance, Banking & Insurance

News   -   Jan 02, 2025 Banks' Non-Food Credit Drops to 11.8%
Banks' Non-Food Credit Drops to 11.8%

According to data released by the Reserve Bank of India (RBI), non-food credit year-on-year growth in scheduled commercial banks dropped to 11.8% in November 2024, compared to 16.5%. The industry also saw a loan growth of 8.1% in November 2024 compared to the figure of 5.5%

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News   -   Jan 02, 2025 Primary Market Investment Surges as FPIs Shift Focus from Secondary Market
Primary Market Investment Surges as FPIs Shift Focus from Secondary Market

Foreign portfolio investors (FPIs) invested $14.5 billion in India's primary market in 2024, primarily through initial public offerings (IPOs) and qualified institutional placements (QIPs), while pulling out $14.37 billion from the secondary market, netting $124 million, according to National Securities Depository Limited (NSDL). 90 IPOs raised

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News   -   Dec 31, 2024 Deadline for Filing 'Belated and Revised' Tax Returns Extended
Deadline for Filing 'Belated and Revised' Tax Returns Extended

The Central Board of Direct Taxes (CBDT) has extended the deadline for resident individuals to file their "belated or revised" Income Tax Returns (ITR) for the Assessment Year (AY) 2024-25. Originally set for 31 December 2024, the new deadline is 15 January 2025. Taxpayers who missed the earlier

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News   -   Dec 31, 2024 Gold Loan Defaults Rise amid Economic Slowdown
Gold Loan Defaults Rise amid Economic Slowdown

Gold loan defaults surged 30% to ₹6,696 crore ($805 million) by June 2024. This trend is being seen as an indicator of the economy slowing down. As gold prices surged, families pledged their gold to spend on household needs, but were unable to service the loans or reclaim the

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News   -   Dec 30, 2024 Market Down as Both Sensex and Nifty Fall over 0.5%
Market Down as Both Sensex and Nifty Fall over 0.5%

The Nifty 50 fell 168.50 points, or 0.71%, to close at 23,644.90; while the Sensex lost 450.94 points, or 0.57%, and was at 78,248.13 as trading ended.

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News   -   Dec 30, 2024 Adani Enterprises Exits Venture with Wilmar International
Adani Enterprises Exits Venture with Wilmar International

In a press release, Adani Enterprises Limited (AEL) announced its full exit from the food, edible oil and consumer goods joint venture Adani Wilmar, where it holds a 44% stake. Lence Pte. Ltd., a subsidiary of Wilmar International, will acquire 31.06% of Adani Wilmar's equity shares from

by Publisher
News   -   Dec 30, 2024 Family Offices Ramp Up Investments in Startups Across Emerging Sectors
Family Offices Ramp Up Investments in Startups Across Emerging Sectors

According to The Times of India, family offices, including those of Wipro's Azim Premji and Manipal Education and Medical Group (MEMG), are increasingly investing in sectors like chip technology, robotics, and green energy. Over $1 billion has been allocated to more than 60 funding deals in 2023 and

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News   -   Dec 20, 2024 Finance Minister to Hold Pre-Budget Talks with States Over Growth Policies
Finance Minister to Hold Pre-Budget Talks with States Over Growth Policies

Finance Minister Nirmala Sitharaman will meet state finance ministers on Friday in Jaisalmer for pre-Budget consultations ahead of the 2025-26 Union Budget. States are expected to push for financial packages and initiatives to support innovation, investment, and job creation, with particular focus on micro, small, and medium enterprises (MSMEs). States

by Publisher
Banks' Non-Food Credit Drops to 11.8%
News   -   Jan 02, 2025 Banks' Non-Food Credit Drops to 11.8%

According to data released by the Reserve Bank of India (RBI), non-food credit year-on-year growth in scheduled commercial banks dropped to 11.8% in November 2024, compared to 16.5%. The industry also saw a loan growth of 8.1% in November 2024 compared to the figure of 5.5%

by Publisher
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Finance, Banking & Insurance Articles 41 Articles
News   -   Jan 02, 2025 Banks' Non-Food Credit Drops to 11.8%
Banks' Non-Food Credit Drops to 11.8%

According to data released by the Reserve Bank of India (RBI), non-food credit year-on-year growth in scheduled commercial banks dropped to 11.8% in November 2024, compared to 16.5%. The industry also saw a loan growth of 8.1% in November 2024 compared to the figure of 5.5%

by Publisher
News   -   Jan 02, 2025 Primary Market Investment Surges as FPIs Shift Focus from Secondary Market
Primary Market Investment Surges as FPIs Shift Focus from Secondary Market

Foreign portfolio investors (FPIs) invested $14.5 billion in India's primary market in 2024, primarily through initial public offerings (IPOs) and qualified institutional placements (QIPs), while pulling out $14.37 billion from the secondary market, netting $124 million, according to National Securities Depository Limited (NSDL). 90 IPOs raised

by Publisher
News   -   Dec 31, 2024 Deadline for Filing 'Belated and Revised' Tax Returns Extended
Deadline for Filing 'Belated and Revised' Tax Returns Extended

The Central Board of Direct Taxes (CBDT) has extended the deadline for resident individuals to file their "belated or revised" Income Tax Returns (ITR) for the Assessment Year (AY) 2024-25. Originally set for 31 December 2024, the new deadline is 15 January 2025. Taxpayers who missed the earlier

by Publisher
News   -   Dec 31, 2024 Gold Loan Defaults Rise amid Economic Slowdown
Gold Loan Defaults Rise amid Economic Slowdown

Gold loan defaults surged 30% to ₹6,696 crore ($805 million) by June 2024. This trend is being seen as an indicator of the economy slowing down. As gold prices surged, families pledged their gold to spend on household needs, but were unable to service the loans or reclaim the

by Publisher
News   -   Dec 30, 2024 Market Down as Both Sensex and Nifty Fall over 0.5%
Market Down as Both Sensex and Nifty Fall over 0.5%

The Nifty 50 fell 168.50 points, or 0.71%, to close at 23,644.90; while the Sensex lost 450.94 points, or 0.57%, and was at 78,248.13 as trading ended.

by Publisher
News   -   Dec 30, 2024 Adani Enterprises Exits Venture with Wilmar International
Adani Enterprises Exits Venture with Wilmar International

In a press release, Adani Enterprises Limited (AEL) announced its full exit from the food, edible oil and consumer goods joint venture Adani Wilmar, where it holds a 44% stake. Lence Pte. Ltd., a subsidiary of Wilmar International, will acquire 31.06% of Adani Wilmar's equity shares from

by Publisher
News   -   Dec 30, 2024 Family Offices Ramp Up Investments in Startups Across Emerging Sectors
Family Offices Ramp Up Investments in Startups Across Emerging Sectors

According to The Times of India, family offices, including those of Wipro's Azim Premji and Manipal Education and Medical Group (MEMG), are increasingly investing in sectors like chip technology, robotics, and green energy. Over $1 billion has been allocated to more than 60 funding deals in 2023 and

by Publisher
News   -   Dec 20, 2024 Finance Minister to Hold Pre-Budget Talks with States Over Growth Policies
Finance Minister to Hold Pre-Budget Talks with States Over Growth Policies

Finance Minister Nirmala Sitharaman will meet state finance ministers on Friday in Jaisalmer for pre-Budget consultations ahead of the 2025-26 Union Budget. States are expected to push for financial packages and initiatives to support innovation, investment, and job creation, with particular focus on micro, small, and medium enterprises (MSMEs). States

by Publisher
Latest Articles 8 Articles
News   -   Jan 15, 2025 Pixxel Sends Three Hyperspectral Satellites into Orbit with SpaceX
Pixxel Sends Three Hyperspectral Satellites into Orbit with SpaceX

Bengaluru-based startup Pixxel announced the launch of three of the world's highest-resolution commercial hyperspectral satellites from the Vandenberg Space Force Base in California on Wednesday. The Firefly constellation satellites were integrated via Exolaunch and launched aboard the Transporter-12 rideshare mission with SpaceX. The launch took place around 1

by PTI
News   -   Jan 15, 2025 GOP Lawmaker Warns Adani Case Could Harm US-India Relations
GOP Lawmaker Warns Adani Case Could Harm US-India Relations

A Republican lawmaker has asked the US Department of Justice to preserve all records in connection with the "selective prosecution" of billionaire industrialist Gautam Adani and his group of companies by the Biden administration. The demand comes less than a week before the Donald Trump administration takes office.

by PTI
News   -   Jan 15, 2025 Delhi Excise Case: Home Ministry Approves Prosecution of Kejriwal
Delhi Excise Case: Home Ministry Approves Prosecution of Kejriwal

The Union Home Ministry has granted sanction to the Enforcement Directorate to prosecute former Delhi chief minister and AAP national convenor Arvind Kejriwal in the excise policy linked money laundering case, officials said. The federal agency has filed a chargesheet against the 56-year-old politician before a special Prevention of Money

by PTI
News   -   Jan 15, 2025 Armed Forces' Welfare a Govt Priority, says PM Modi
Armed Forces' Welfare a Govt Priority, says PM Modi

Prime Minister Narendra Modi on Wednesday lauded the Indian Army for its determination, professionalism and dedication, and underlined his government's commitment to the welfare of armed forces and their families. In posts on X on Army Day, he said, "Today, on Army Day, we salute the unwavering

by PTI
News   -   Jan 15, 2025 Odisha Eyes Greenfield Steel Plant Deal in Keonjhar
Odisha Eyes Greenfield Steel Plant Deal in Keonjhar

Odisha Chief Minister Mohan Charan Majhi on Tuesday said he is hopeful that the MoU for establishment of a "mega" steel plant in mineral-rich Keonjhar district would be signed during a business conclave in the state on January 28-29. Majhi said he is focusing on signing of the

by PTI
News   -   Jan 15, 2025 Singapore President Arrives in Delhi for Five-Day Visit
Singapore President Arrives in Delhi for Five-Day Visit

President of Singapore Tharman Shanmugaratnam arrived here on Tuesday night on a five-day visit that aims to further boost bilateral ties in a range of areas. Shanmugaratnam, accompanied by a high-level delegation, was received at the airport by Union Minister Jitin Prasada. It is his first visit to India as

by PTI
News   -   Jan 15, 2025 Jaishankar Discusses Bilateral Progress with Spanish Leaders in Madrid
Jaishankar Discusses Bilateral Progress with Spanish Leaders in Madrid

External Affairs Minister S Jaishankar on Tuesday called on Spanish President Pedro Sanchez and reiterated the "long-standing" India-Spain partnership, updating him on the progress in bilateral cooperation. Separately, he also called on the King of Spain Felipe VI. Jaishankar arrived in Spain on Monday for a two-day official

by PTI
News   -   Jan 15, 2025 Fog Disrupts Dialy Life in the National Capital
Fog Disrupts Dialy Life in the National Capital

A thick layer of very dense fog covered New Delhi on Wednesday morning. The national capital's air quality fell into the "very poor" range. The Central Pollution Control Board reports that at 7 a.m. today, the AQI was measured at 344 in Delhi. It was

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