The government on Saturday announced a host of measures such as setting up of a new Fund of Funds Scheme (FFS) with Rs 10,000 crore corpus; and extension of period of incorporation by five years with a view to promote growth of budding entrepreneurs.
The Central Bureau of Investigation (CBI) conducted searches at seven locations across India in connection with a Rs 350 crore crypto ponzi scam. The accused, operating seven modules in different cities, allegedly lured investors with promises of high returns on cryptocurrency investments. The CBI seized digital virtual assets totaling USD 38,414 in cryptocurrency wallets, cash amounting to Rs 34.2 lakh, and digital evidence, including mobile phones, laptops, tablets, hard disks, and memory cards. The agency registered the case under the Indian Penal Code and the Information Technology Act.
'I expect it to be the highest grosser of Indian cinema.'
The Delhi High Court has ruled that qualified women with an earning capacity should not claim interim maintenance from their husbands, stating that the law does not promote idleness. The court dismissed a woman's plea for maintenance from her estranged husband, highlighting her education and potential to earn. The court encouraged her to actively seek employment, stating she had the capability to become self-sufficient.
Prashant Kishor, founder of the Jan Suraaj Party, has been on a fast-unto-death protest in Patna, demanding the cancellation of the BPSC exam due to alleged question paper leaks. The presence of a luxury 'vanity van' near his protest site sparked controversy, with Kishor arguing that the focus should be on the future of the exam aspirants rather than his personal amenities. The district administration has declared the protest illegal and has threatened action against Kishor and his supporters.
Value mutual funds have witnessed robust investor interest, garnering Rs 22,757 crore in inflows in 2024, nearly double the amount seen in 2023, fueled by impressive returns generated by the segment. This surge reflects a shift in investor focus towards fundamentally strong yet undervalued stocks.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
The Maha Kumbh, the world's largest religious gathering, began in Prayagraj, India, with millions taking a dip in the Sangam, the confluence of the Ganges, Yamuna, and Saraswati rivers. Devotees from across India and the world converged for the 45-day event, which is considered to be a particularly auspicious one this year due to celestial alignments. The event is a major logistical challenge for the government, which has implemented several crowd-control measures and security measures to ensure the safety of the millions of pilgrims.
All of 2024, most movies have struggled to have these kinds of numbers even in their entire lifetime.
India's healthcare and pharmaceutical sectors raised Rs 14,811 crore through initial public offerings (IPOs) in 2024, the largest since 2019, driven by strong domestic demand amid expanding global opportunities. According to data, key contributors to the record fundraising included Sai Life Sciences (Rs 3,043 crore), IKS Health (Rs 2,498 crore), and Sagility India (Rs 2,107 crore).
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
Chahal, thrilled to join the setup, shared his excitement about working with Ponting and teaming up with Shreyas Iyer, the likely captain of the franchise.
The Central Bureau of Investigation (CBI) has registered an FIR against an Enforcement Directorate (ED) assistant director who escaped during a trap operation last week. The ED officer, posted in Shimla, is accused of demanding bribes from promoters of educational institutes in Himachal Pradesh. The CBI has already arrested the officer's brother and a middleman in connection with the case. The ED officer and his supervisory officers have been transferred to Delhi.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The country's largest airline IndiGo on Friday saw its profit after tax slide 18.3 per cent to Rs 2,448.8 crore in the three months ended December 2024 due to foreign exchange loss even as revenue jumped on higher capacity and passenger traffic. The carrier, which had a fleet of 437 planes at the end of December, is planning to induct wet leased planes for long range flights and expects the number of grounded aircraft to come down to 40s by the start of next financial year from the current level of 60s.
What if I told you that you only need to invest for 5 years to accumulate Rs 1 crore? Sounds unbelievable, but it's possible, asserts Ramalingam Kalirajan
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
A Mumbai court has dismissed Tanushree Dutta's "MeToo" allegations against veteran actor Nana Patekar, citing the complaint was filed beyond the statute of limitations. The court observed that Dutta filed an FIR in 2018 for an incident that allegedly occurred in 2008, exceeding the three-year limitation period for the offenses under consideration. The court also noted that no application for condonation of the delay was filed to explain the reasons for the late filing.
State Bank of India (SBI), India's largest lender, is looking to raise Rs 10,000 crore through 15-year infrastructure bonds as early as next week, said multiple sources aware of the development. Market participants expect a coupon in the range of 7.15-7.18 per cent for SBI's upcoming infrastructure bond issuance. This comes as demand for longer-tenor papers has remained strong in recent domestic capital market offerings.
The Supreme Court has announced it will decide in April whether to reconsider its 2022 verdict upholding the Enforcement Directorate's powers to arrest and attach property under the Prevention of Money Laundering Act (PMLA). The court is hearing a batch of pleas seeking a review of the July 2022 verdict, which upheld the ED's powers of arrest and attachment of property involved in money laundering, search and seizure under the PMLA. The verdict came on a batch of over 200 petitions filed by individuals and other entities questioning various provisions of the PMLA.
The Competition Commission of India (CCI) on Monday imposed a penalty of Rs 213.14 crore on social media major Meta for unfair business ways with respect to WhatsApp privacy policy update done in 2021. Besides, the competition watchdog has directed Meta to cease and desist from anti-competitive practices.
Union labour minister Dr Mansukh Mandaviya on Thursday said employment in the country has increased by 36 per cent to 64.33 crore in 2023-24 from 47.15 crore in 2014-15, which shows improvement in job creation during NDA period.
The gross GST collection rose 7.3 per cent year-on-year to Rs 1.77 lakh crore in December. The Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, Integrated IGST at Rs 47,783 crore and Cess at Rs 11,471 crore, according to government data released on Wednesday.
Online food delivery firm Zomato Ltd on Tuesday reported a consolidated net profit of Rs 176 crore in the second quarter ended on September 30, 2024. The board of the company, which had posted a consolidated net profit of Rs 36 crore in the same quarter last fiscal, also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing. Zomato's consolidated revenue from operations stood at Rs 4,799 crore.
Defence Minister Rajnath Singh announced that India's defence exports have crossed a record Rs 21,000 crore, a significant jump from Rs 2,000 crore a decade ago. He set a target of achieving defence exports of Rs 50,000 crore by 2029. Singh highlighted the importance of mastering frontier technologies in the face of evolving warfare, emphasizing the role of military training centers in preparing soldiers for future challenges. He also underscored the government's commitment to strengthening integration and jointness among the three services, aiming to enhance the armed forces' ability to face challenges together.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
After heavy selling in the past two months, foreign investors have staged a strong comeback to Indian equities with a net investment of Rs 24,454 crore in the first week of December amid stabilising global conditions and expectations of potential US Federal Reserve rate cuts. This revival follows significant outflows in the preceding months, with foreign portfolio investors (FPIs) pulling out a net Rs 21,612 crore in November and a massive Rs 94,017 crore in October - the worst monthly outflow on record.
Metropolitan Stock Exchange of India (MSE) plans to raise Rs 120 crore from investors in an attempt to stay afloat. The beleaguered exchange's board has approved issuance of 1.19 billion equity shares of face value Rs 1 at a premium of Rs 1 through private placements, according to a disclosure on its website.
Actor Allu Arjun and makers of the film Pushpa on Wednesday announced financial assistance of Rs 2 crore for the family of the woman who died in a stampede during the film's screening at a theatre in Hyderabad on December 4.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
Fifteen companies have launched their initial public offerings (IPOs) in December 2024, making it the best month for public offerings since 1996. Collectively, they have raised Rs 25,425 crore, which also made December the best month in terms of the quantum of funds raised. In December 1996, 33 companies had raised Rs 931 crore.
Unbelievable, did you say? Ramalingam Kalirajan explains the simple math.
The Reserve Bank on Monday said 98.08 per cent of the Rs 2,000 banknotes have been returned to the banking system, and only Rs 6,839 crore worth such notes are still with the public. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation.
Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece.
'Raj is saying no to numerous offers for monetary reasons, and why not?' Stree 2 is perhaps the biggest blockbuster of all times.'
Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields. With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far. As liquidity tightens, FPI inflows are expected to remain subdued in the short term.
The dead body of a 45-year-old unidentified man was delivered to a family in Yendagandi in West Godavari district of Andhra Pradesh, in a box with a demand for over Rs 1 crore claiming it to be the compounded amount of a loan taken years ago, police said on Friday.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
Karnataka BJP President B Y Vijayendra on Thursday challenged Chief Minister Siddaramaiah to disclose the source of his allegation that Rs 50 crore bribe each was offered to 50 Congress MLAs to topple the government. He said the Chief Minister has lost faith in his own MLAs and, hence, was levelling false allegations.
According to the Department of Pharmaceuticals' annual report for 2024-25, India imported medical devices worth $8.1 billion, while exports stood at $3.7 billion in the financial year 2023-24 (FY24)
