The State Bank of India (SBI) is enhancing its technology and digital footprint, adding 50,000 to 60,000 savings accounts daily. Chairman CS Setty anticipates steady credit growth and a strong corporate balance sheet. SBI is targeting growth in MSME and agriculture sectors, with aspirations to surpass Rs 1 lakh crore in profits.
The 30-share BSE Sensex closed up 231.16 points at 82365.77
Dalal Street has seen a record-breaking rally, taking the Nifty index to a new all-time high of 25,268. This marks the first instance of Nifty rising consecutively for 12 sessions since its launch in 1996. Analysts suggest future market movement may hinge on key economic indicators and corporate earnings.
The NSE Nifty index closed 83.96 points up at 25235.9
A deep depression caused heavy rains and floods in Gujarat, intensifying into cyclone Asna off the Kachchh coast and neighboring Pakistan. This is the first August cyclone in the Arabian Sea since 1976. The cyclone is moving west-northwest, away from the Indian coast. Gujarat's rain-related incidents have resulted in 26 deaths and the relocation of over 18,000 people.
Zydus Lifesciences Ltd has received USFDA approval to market its Scopolamine transdermal system, which helps prevent nausea and vomiting under various conditions, including after surgery and due to motion sickness. The product, with a dosage of 1 mg/3 days, will be manufactured in Ahmedabad.
The Telecom Regulatory Authority of India (Trai) is set to extend the deadline for implementing a whitelisting mandate for certain messages by one month, to October 1. This comes after banks and telcos requested additional time to update their systems to avoid disruptions in message delivery. This move aims to curb spam and phishing attempts.
An NCR-based developer will invest Rs 1,300 crore in a luxury project in Ghaziabad, expecting Rs 3,000 crore in revenue. The Gaurs Group's project, Gaur NYC Residences, received a remarkable response, with expressions of interest from over 3,000 potential buyers within 24 hours of RERA approval for 1,200 luxury apartments.
Invesco Mutual Fund has announced the launch of Invesco India Technology Fund, an open-ended equity scheme investing in technology and technology-related sectors.
The Nifty IT index closed 0.46 per cent up at 42787.8.
Delhi's Rouse Avenue Court directed the CBI to frame charges against Congress leader Jagdish Tytler in the 1984 anti-Sikh riots case, citing sufficient material. The charges relate to the killing of three Sikhs near Gurudwara Pul Bangash. The incident followed the assassination of Prime Minister Indira Gandhi.
The Madras High Court has issued notices to the Election Commission and DMK MP Dayanidhi Maran following a petition challenging his election from Chennai Central in April 2024. The petition, filed by M L Ravi, claims that the DMK's campaign violated election rules. The case will be heard again on September 26.
The Comptroller and Auditor General of India (CAG) and the General Court of Audit of Saudi Arabia have signed a Memorandum of Understanding (MoU) to enhance cooperation and share expertise in public sector auditing.
In his AGM speech, Mukesh Ambani emphasized AI and deep-tech but did not mention IPOs or listings for Reliance Jio and Reliance Retail. Investors had hoped for a 2025 timeline for these monetizations, but RIL shares fell 0.5% as no new target prices were set.
PDP chief Mehbooba has urged the government to lift the ban on Jamaat-e-Islami to allow it to contest elections, calling democracy a battle of ideas. She has criticised National Conference's fluctuating views on elections and alleged past electoral irregularities that hindered other parties like the MUF from participating.
Several domestic media outlets reported recently that sexually explicit deepfake images and videos of South Korean women were often found in Telegram chatrooms.
The term of the 22nd Law Commission ends Saturday without a chairperson, delaying key reports on the uniform civil code. A report on simultaneous elections is ready but cannot be submitted. Justice Ritu Raj Awasthi was appointed to the Lokpal, leading to the current situation.
Suhas Yathiraj and Nitesh Kumar secured spots in the SL4 and SL3 semifinals at the Paralympics. Suhas topped his group, while Nitesh dominated his match. However, Manasi Joshi and Manoj Sarkar faced defeats, ending their semifinal hopes in their respective groups. Additionally, mixed doubles pairs also experienced setbacks.
The US-India Strategic Partnership Forum will host its third defence summit at Stanford University from September 9 to 10. The event aims to enhance technology partnerships in defence innovation between the US and India. Key focus areas include private capital investment, defence technology, and resilient supply chains. Leading policymakers, venture capitalists, and tech professionals will participate.
The Central government has allocated four MBBS seats for the 2024-25 academic year in medical colleges for the spouse and children of civilian victims of terrorism. The Ministry of Home Affairs has asked all states and Union Territories to widely publicize the move and invite applications by September 17, 2024.
Rebel Foods cut its losses by 42%, bringing it to Rs 378 crore in fiscal year 2024, down from Rs 656 crore a year ago. This comes days after ET reported about Singapore's Temasek mulling a $100-150 million investment in the company, in a mix of primary and secondary share sale.