India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

JPMorgan Chase & Co

Given the relatively small weight in the Bloomberg Global Aggregate Index, analysts expect India's inclusion could take place in one shot

bonds market, currencies, currency, RBI, yield

The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024

Banks

Air India flew and LIC moved, but a big-bang PSU stake sale programme has proved to be elusive so far

Nirmala Sitharaman,

Closing Bell on Friday, September 22: The Nifty PSU Bank jumped the most, rising 3.5 per cent

BSE, NSE, Sensex, Nifty, stock markets

Market regulator Sebi has said it will auction the property of the Saradha Group of companies next month at a reserve price of over Rs 3 crore to recover money raised by the firm from the public through illicit schemes.
The property located in West Bengal will go under the hammer, the Securities and Exchange Board of India (Sebi) said in a notice dated September 15.
The regulator said the e-auction will be conducted between 11 am and 1 pm on October 17. The reserve price of the property is pegged at Rs 3.68 crore.
Sebi has engaged Quikr Realty to assist it in the sale of the property and appointed C1 India as the e-auction provider.
The development came after the Calcutta High Court passed an order in June 2022, whereby it directed the regulator to proceed with the auction of properties of the Saradha Group of Companies.
Saradha Group, a consortium of over 239 private companies, allegedly ran chit-fund operations in West Bengal, Assam and Odisha, and raised around Rs 4,000 crore f

Consumer electronics company boAt on Tuesday said it has decided to withdraw sponsorship of Canada-based Punjabi singer Shubh's upcoming tour to India over certain remarks he made earlier this year.
"At boAt, while our commitment to the incredible music community runs deep, we are first and foremost a true Indian brand. Therefore, when we became aware of the remarks made by artist Shubh earlier this year, we chose to withdraw our sponsorship from the tour," the company said in a post on social media platform X.
Bhartiya Janata Yuva Morcha has raised objections claiming that Shubh allegedly showed support for Khalistanis by posting a distorted map of Kashmir.
Shubhneet Singh, popularly known as Shubh, is scheduled to perform during the Cruise Control 4.0 event in Mumbai from September 23-25.
Cricketer Virat Kohli had recently unfollowed Shubh on social media app Instagram.
The announcement by boAt came on a day when tensions between Canada and India flared up after Canadian Prime .

Scaling up its CSR initiative to address climate issues at the global level, HCLTech on Tuesday announced a grant of USD 5 million over five years for combating climate change and restoring ecosystems and biodiversity across the Americas.
For the last eight years, the HCLTech Grant program has been supporting India-based NGOs, and now the same has been scaled for implementation in the Americas, the company said in a statement.
Every year, three NGOs with innovative and sustainable projects will receive a grant of USD 1 million. One NGO will receive USD 5,00,000, while two others will receive USD 2,50,000 each. NGOs will be selected through a rigorous screening process, it added.
"Through this programme, we aim to accelerate innovation in climate projects and build a sustainable planet. Our ambition is to identify organisations that are truly making an impact at the grassroots and help them scale their unique projects," said Nidhi Pundhir, Vice President, Global CSR, ...

climate change, crisis

Indian Railways has earned an additional revenue of more than Rs 2,800 crore from child travellers in the last seven years by revising child travel fare norms, an RTI response has found.
The response from the Centre for Railway Information Systems (CRIS) under the Right to Information (RTI) Act further indicates that the financial year of 2022-23 alone earned Rs 560 crore due to the amended norms making it the most profitable year.
CRIS, an organization under the Ministry of Railways, provides IT solutions in core areas such as ticketing and passengers, freight services, train traffic control and operations, among others.
On March 31, 2016, the ministry announced that the railways would charge full adult fare for children of age 5 years and under 12 years if they opted for separate berths or seats in a reserved coach. The revised norm was made applicable from April 21, 2016.
Earlier, the railways used to offer separate berths to children between 5 and 12 years while charging only h

Insolvency & Bankruptcy Code (IBC) cannot be used as a "tool for recovery", the NCLT observed on Tuesday while dismissing a plea by two unit buyers of a commercial complex.
The Principal Bench of the National Company Law Tribunal (NCLT) was hearing the plea for initiating insolvency against Orris Infrastructure over an alleged default of Rs 3.60 lakh.
The NCLT bench observed that the purchaser of the Office space/Retail Unit has already received full and final payment from Orris Infrastructure in lieu of the assured returns towards the allotted unit, as per the agreement.
The amount has been paid in excess of the default amount and counsel for the applicant has also acknowledged the receipt of the demand draft from the realty firm, which was developing a commercial building complex, known as Floreal Tower, at Sector 83, Gurgaon (Haryana), said insolvency tribunal.
"We are of the view that in the present case, the applicants are already having demands drafts of the amount exceeding

insolvency

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

India's ambitions for green hydrogen are riding the coat-tails of Chinese equipment, with Beijing's global stranglehold on the green hydrogen business now extending to New Delhi

green energy targets in mind, but is India technology-ready?

green energy

While posing a complex challenge, slums also offer a unique opportunity for morally and economically imperative urban development

Dharavi

As part of the partnership, Infosys will have access to NVIDIA's full-stack gen AI program and will set up a NVIDIA Centre of Excellence

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani (Photo: Infosys)

NVIDIA Founder & CEO, Jensen Huang with Infosys Co-founder & Chairman, Nandan Nilekani

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Karnataka Bank

The president of the United Auto Workers said on Friday the union will expand its strike against major automakers by walking out of 38 General Motors and Stellantis plants in 20 states.
Ford was spared additional strikes because the company has met some of the union's demands during negotiations over the past week, said UAW President Shawn Fain.
The union is pointing to the companies' huge recent profits as it seeks wage increases of 36 per cent over four years.
The companies have offered a little over half that amount. The UAW has other demands, including a 32-hour work week for 40 hours of pay and a restoration of traditional pension plans for newer workers.
The companies say they can't afford to meet the union's demands because they need to invest profits in a costly transition from gas-powered cars to electric vehicles.
The UAW's contract with the automakers expired at midnight on September 14, and workers walked out of a Ford assembly plant near Detroit, a GM factory in ...

General Motors

The India-Canada row highlights our double-edged soft power

Khalistan posters target Indian diplomats in Canada

Bike and auto-rickshaw aggregator Rapido has drawn up plans bring on board 200 women drivers over the next three months, the company said on Friday.
Currently, Rapido Auto has engaged 50 female 'captains' hailing from diverse backgrounds in the city for its ride-hailing service, and it aims add more than 200 active captains in the next three months through collaborations with various Coimbatore-based non-governmental organisations, the company said in a release.
Rapido will equip the women captains with essential safety and driving skills through the comprehensive training programme in collaboration with the NGOs. It also plans to launch micro-loans and family health insurance for women auto captains in Coimbatore, the release added.
This initiative would enable women to earn between Rs 800 and Rs 1,000 a day, translating to a monthly income of Rs 25,000 to Rs 30,000, it added.
"Rapido Auto, as a company, is deeply committed to fostering gender empowerment and inclusivity. Our jour

Bike taxi startup Rapido plans to ramp up hiring of women captains

Rapido

Undoubtedly SHE is an idealistic goal, but it is practical

The survey also found that CEOs in India focus more on the company’s growth than on other financial matrixes.

CEOs, Employees

The tax notice comes at a time when the company, valued at over $566 million, is already facing heat over the recent move in July by the country's GST Council to impose a 28% indirect tax

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Strikes against automakers spread to nearly 38 locations in 20 states

Soft power and Sikh influence

Rapido aims to rope in over 200 women as auto-rickshaw 'captains'

Is SHE for real?

Delta Corp gets tax notice for $1.34 bn along with interest, penalty

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