The investment strategy for this scheme involves allocating a significant portion, ranging from 65% to 100%, towards equity and equity-related instruments of companies known for providing dividends. The remaining allocation can be flexibly distributed across various asset classes.
IMF executive director Krishnamurthy Subramanian highlighted the need for India’s private sector to enhance innovation and productivity to achieve a $55 trillion economy by 2047. He emphasized higher R&D spending, better credit for SMEs, and state reforms as key factors, while acknowledging challenges like climate change and geopolitical issues.
Senior IAS officer Amardeep Singh Bhatia has taken over as Secretary of DPIIT, succeeding Rajesh Kumar Singh. Previously, Bhatia was an Additional Secretary in the Department of Commerce. His tenure begins amidst a 3.49% decline in FDI to USD 44.42 billion, with the department focused on simplifying investment procedures.
Ben Affleck and Jennifer Lopez filed for divorce on their second wedding anniversary. Lopez made the decision to move on despite her best attempts to keep the marriage together, putting her children's welfare first during this trying period.
The UP Police Recruitment & Promotion Board is set to conduct its largest constable recruitment drive, with 48 lakh applicants competing for 60,244 positions. The written re-examination is scheduled for August 23-25 and August 30-31, with two shifts each day and about 4.8 lakh candidates per shift. The board has selected only government and government-aided schools to maintain examination integrity.
India's benchmark index, the Sensex, gained around 102 points on Wednesday, closing at 80,905. During this rise, seven stocks in the BSE FMCG index reached their highest prices in the past year.
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Iran's parliament approved all members of President Masoud Pezeshkian's Cabinet, a first in over two decades. Key members include Foreign Minister Abbas Araghchi and Defense Minister Aziz Nasirzadeh. Farzaneh Sadegh became the first female minister in a decade. Pezeshkian aims to revive the 2015 nuclear deal with world powers.
In a rapidly evolving financial landscape, technology has become a key driver of change in the way people trade and invest in India.
Tim Walz, who is the VP choice for the Presidential ticket by the Democratic Party alongside Kamala Harris, who is running for President, has now been deemed as a Chinese 'agent', having been groomed by them, according to Fox News presenters and guests. This development has sent shockwaves across the United States with just months to go for the US Presidential Elections 2024.
The UPSC and Delhi Police opposed former IAS probationer Puja Khedkar's anticipatory bail plea for allegedly cheating by misusing OBC and disability quotas in the civil services exam. They argued that granting bail would impede the investigation into the conspiracy and affect public trust in UPSC's integrity.
Piyush Goyal, India's Commerce and Industry Minister, highlighted potential to double India-Africa trade to USD 200 billion in seven years. Key collaboration areas Goyal mentioned include agriculture, pharmaceuticals, mining, and renewable energy. He urged increased participation in India's duty-free scheme and emphasized partnerships in IT, entertainment, and critical minerals, especially for the EV sector.
Zelestra, a Spanish renewable energy company, has entered into a 25-year agreement to supply electricity from its 450 MW solar plant in Rajasthan to NTPC. The solar project is projected to produce 801 GWh annually, with a notable reduction in CO2 emissions over its lifespan. This supports Zelestra's expansion plans in India.
Embassy REIT has announced a lease agreement with Commonwealth Bank of Australia to develop 1.4 million square feet of office space in India. The new customized campus at Embassy Manyata will cover 0.8 million square feet initially, with possible expansion. Completion is anticipated by the fourth quarter of 2026, aiming to serve global markets.
The Indian rupee depreciated against the US dollar and closed at 83.92/$1 on Wednesday to record its worst single day performance since 26th June, due to dollar demand from domestic banks and corporates and FPI outflows from equities, traders said.
Bharat Petroleum Corporation Limited (BPCL) launched an afforestation project in Bihar called 'Aranya.' This initiative aims to plant 1,00,000 seedballs over 50 hectares in three forest regions using drone technology. In collaboration with the Bihar government and an NGO, BPCL's project seeks to restore forest cover and boost economic opportunities for local communities.
NBFCs faced reduced profitability due to high funding costs and competition from banks, Icra reported. The shift towards capital market instruments was a result of slowing bank credit and regulatory challenges. Asset quality issues were expected to surface, and funding costs were projected to rise by 20-40 bps over FY2024 levels.
Super.Money, the fintech wing of Flipkart, debuted its credit-first UPI app post a beta phase with 10 million transactions. The venture plans to introduce new financial products, targeting a significant position in India's UPI sector.
ABB's PLC-based SCADA (supervisory control and data acquisition) system is an automation control solution, which helps gather and analyze real-time data to run the plant optimally and enable low maintenance. With this, operators are also able to easily monitor and analyze key parameters of the plant and get complete visibility of plant operations.
Indian Railways is set to introduce the Vande Bharat Metro in Gujarat soon, aimed at daily commuters between Vadodara and Ahmedabad. Recent trials included a successful 20-coach Vande Bharat train. Alongside, a new 214 km High-Speed Corridor between Tharad and Ahmedabad has been approved to enhance connectivity in the region.
An Indian astronaut is set to travel to the International Space Station in April next year as part of a collaboration between NASA and ISRO. Group Captains Shubhanshu Shukla and Prashanth Balakrishnan Nair are undergoing training for the Axiom Space Ax-4 mission, with Shukla assigned for the mission and Nair as the backup candidate. ISRO will release scientific data from Chandrayaan-3 on August 23 during National Space Day celebrations.
9 beet snacks that will wow your guests
Top credit cards with airport lounge access in India: ET Wealth Online has compiled a list of credit cards from the leading banks in India that offer airport lounge access. The cards are not ranked in any specific order, and the information is based on the details available on bank websites as of August 21, 2024.