State-owned Bank of Baroda on Tuesday said it has raised Rs 5,000 crore by issuing long-term infrastructure bonds. The lender said it is a ten-year bond issued at a coupon of 7.30 per cent, as per an official statement.
Finance Minister Nirmala Sitharaman defended the newly launched Unified Pension Scheme (UPS) against Congress accusations of misinformation, clarifying it is not a rollback but an improved pension scheme for government employees. The UPS guarantees 50 per cent of average basic pay over the last 12 months before retirement, addressing concerns over the National Pension System (NPS). The scheme requires employee contributions and aims to satisfy most government employees, with a focus on long-term benefits.
The BJP has requested Karnataka Governor Thawarchand Gehlot to cancel a 5-acre plot allocated to a trust run by AICC President Mallikarjun Kharge’s family near Bengaluru's international airport. Industries Minister MB Patil defends the decision, citing appropriate procedures were followed.
In preparation for the January 2025 election of a new BJP chief, the party will launch a membership drive starting September 2. This drive will include renewal of existing members and recruitment of new ones through various channels. The BJP aims to assess its current popularity following a decrease in Lok Sabha seats. The process, interrupted by the pandemic, will involve data collection and active member selection by October 31.
Jay Shah, at 35, has become the youngest chairman of the International Cricket Council (ICC), elected unopposed. His rise from district-level cricket administration to global cricket's top position is marked by a no-nonsense approach and strong player connections. Shah's achievements include launching the Women's Premier League (WPL) and ensuring equal pay for India's women cricketers. His leadership during COVID-19, overseeing bio-bubbles, and his innovative policies have solidified his place as a significant figure in cricket administration.
Kerrisdale Capital on Tuesday disclosed a short position in Lumen Technologies and raised doubts on its focus on artificial intelligence to fuel a turnaround in the company's telecommunications business, sending its shares down 11%.
Prime Minister Narendra Modi has pledged to address the challenges faced by the TV news industry in a recent meeting with News Broadcasters and Digital Association members. The TV news sector, dealing with declining revenues and rising costs, seeks a favorable regulatory environment amid digital disruption affecting the industry's growth and sustainability.
A large number of normal saving bank accounts are also opened by banks. New measures like e-KYC and video KYC have made the account opening process paper-less, eliminating the need to visit a branch or banking correspondent for opening of bank account.
Indian equity markets ended flat on Tuesday. Analysts noted that profit-taking at highs and technical indicators suggest the Nifty could face resistance at 25,200-25,250, with support at 24,960-24,855. The market remains range-bound, with potential for a slight dip or rise depending on movements around 25,000 and 25,100.
In a letter sent to Naval commander Abhishek Karbhari, Area Coastal Security Officer and Area Civil-Military Liaison Officer, on August 20, an assistant engineer of the PWD in Malvan taluka of Sindhudurg district highlighted that parts of the statue were gathering rust and it was looking "unpleasant".
Concerns regarding King Charles III's health have led to recent speculations suggesting a potential reconciliation between the king and Prince Harry. In spite of his persistent health problems and difficulties with Prince William, Charles is apparently trying to patch up their relationship.
SIG SAUER has secured a second contract with India’s Ministry of Defence to supply 73,000 additional SIG716 rifles, bringing the total to 145,400 rifles for the Indian Army. Initially awarded in 2019, the SIG716's successful fielding and positive feedback led to this follow-on order. SIG SAUER President and CEO Ron Cohen praised the partnership, emphasizing the rifle's role in modernizing the world’s second-largest army. The SIG716, chambered in 7.62 NATO, features a 16-inch barrel and a 6-position stock.
Demand for VFS Global's "Visa at Your Doorstep" (VAYD) service has surged as UK visitors increasingly choose India as a travel destination. According to recent statistics, Britain is among the top three source countries for foreign tourists to India, with a nearly 10% share from January to June 2024. VAYD offers mobile biometric capture at applicants' preferred locations, enhancing convenience and efficiency. Recent users include South Shore Productions, which praised the service for streamlining their visa application process. Читать дальше...
Consumer confidence in the United States rose slightly in August, surpassing expectations and continuing an uptrend. The Conference Board's consumer confidence index increased to 103.3, up from 101.9 in July. This positive development, though modest, bodes well for Vice President Kamala Harris ahead of the upcoming elections. Despite mixed sentiments among consumers, the overall outlook remains within a narrow range. Inflation expectations decreased to 4.9 percent, the lowest since the start of the pandemic.
Jay Shah has been elected as the ICC Chairman, set to start his term on December 1, 2024, making him the youngest person to hold the position. As Shah transitions to the ICC role, Rohan Jaitley is expected to become the new BCCI Secretary. Jaitley’s extensive cricket administration experience and strong support position him as a leading candidate. The Pakistan Cricket Board is also moving forward with preparations for the ICC Champions Trophy 2025, dismissing rescheduling rumors.
The Registrar of Companies (RoC) fined V-Guard Industries' Managing Director M K Chittilappilly Rs 2.03 lakh for violating rules related to director appointments and retirements. V-Guard had non-compliant board composition at its 2022 AGM, leading to a penalty. The company later rectified the issue with a compliant appointment.
India's first privately placed investment grade bonds with a face value of Rs. 10,000 have been launched by Grip Invest with a tenure of 17 months.
Foreign investment in China is rapidly declining. High geopolitical tensions and regulatory unpredictability have led investors to reconsider their positions. Many EU and Japanese firms show caution. India sees an opportunity to attract these wary investors.
Finance Minister Nirmala Sitharaman announced that the upcoming GST council meeting will address the rationalisation of tax rates, including potential changes to taxes and slabs. The Group of Ministers recently discussed maintaining the existing GST slabs at 5, 12, 18, and 28 percent. The council will also consider the future of the compensation cess, which was extended till March 2026 to repay loans taken to compensate states for GST revenue loss.
Due to inflation and the rise in the number of people working from home, the United States citizens would love to relocate in Europe given the number of incentives one gets to enjoy in European countries.
Jay Shah has been elected unopposed as the next Independent Chair of the International Cricket Council (ICC), succeeding Greg Barclay. Shah, currently BCCI Honorary Secretary and Chair of the Asian Cricket Council, will begin his tenure on December 1, 2024. Shah aims to enhance cricket's global presence, especially with the sport's inclusion in the LA 2028 Olympics. He plans to innovate and expand the sport's reach, promoting multiple formats and advanced technologies to boost cricket's global popularity.
Andhra Pradesh is set to adopt a paperless system for its council of ministers' meetings with the implementation of the e-cabinet app developed by the National Informatics Centre. The shift, starting on August 28, aims for operational efficiency and eco-friendly practices by providing secure access to cabinet documents and aiding in decision monitoring.
Pensioners from EPS-95 National Agitation Committee met with EPFO officials to demand a minimum monthly pension of Rs 7,500 and full medical coverage for EPS members and spouses. Despite years of advocating for a higher pension, the government has not yet met their requests. Union Minister for Labour and Employment Mansukh Mandaviya promised to address the pensioners' concerns in a recent meeting. EPS-95 NAC represents 78 lakh retired pensioners and 7.5 crore working employees in Maharashtra.