In a startling revelation that has gripped Mumbai’s financial and legal circles, the Economic Offences Wing (EOW) is investigating a complex embezzlement case involving the New India Co-operative Bank. The case revolves around the alleged misappropriation of ₹122 crore from the bank’s vaults and a series of fraudulent investments that followed. The latest arrest has …
The Indian Rupee (INR) weakened on Tuesday after strengthening for nine consecutive sessions, despite continued US Dollar (USD) sales from foreign banks and a resurgence in foreign inflows. The USD/INR exchange rate edged higher to 85.71, reflecting a 0.17% gain at 1:25 PM, as of March 25, 2025. The pair traded within a range of …
The 11th round of commercial coal mine auctions has concluded successfully, with strong industry participation highlighting continued interest in India’s coal sector. A total of 12 coal mines were auctioned, achieving an impressive average revenue share of 36.27%, as per the data from the ministry. These mines are expected to generate an annual revenue of …
India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has relaxed regulations for foreign investors, alternative investment funds (AIFs), and registered investment advisors (RIAs) in response to the growing trading volumes in the cash equity market. Change in AIF Regulation The regulator has eased the rules for Category II AIFs, allowing them …
The Indian stock market saw a strong rally today, with the Sensex surging 1,078.87 points (1.40%) to close at 77,984.38, reflecting positive sentiment among investors. Similarly, the NIFTY 50 ended the session at 23,658.35, gaining 307.95 points (1.32%). Top Gainers and Losers Kotak Mahindra Bank closed at ₹2,180 after reaching a high of ₹2,184.25 and a …
March has proven to be a blockbuster month for Indian equity markets! After a 5-month dry spell, India’s market cap has bounced back sharply, rising 9.4% in dollar terms, marking the biggest monthly gain since May 2021. With this rally, India has surged ahead of other major global markets to secure the top spot among …
To protect domestic industries from the influx of cheap imports, India has imposed anti-dumping duties on 5Chinese products, including vacuum flasks and aluminium foil. These levies, based on the Directorate General of Trade Remedies’ (DGTR) recommendations, aim to ensure fair competition and safeguard local manufacturers. Anti-Dumping Measures and Their Scope The Central Board of Indirect …
Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Saturday said that there is no need to alter the current taxation system and that foreign portfolio investors (FPIs) must “live with” the existing framework. Pandey, who assumed office as SEBI chief three weeks ago, highlighted India’s numerous advantages as the fastest-growing large …
The much-anticipated announcement of the Dearness Allowance (DA) hike for central government employees and pensioners has hit a roadblock. Traditionally declared before major Indian festivals such as Holi and Diwali, this year’s decision—expected before Holi—has been deferred. As of now, the Union Cabinet is yet to make an official declaration, despite earlier reports hinting at …
Tripura Chief Minister Manik Saha on Friday announced a 3% increase in Dearness Allowance (DA) and Dearness Relief (DR) for state government employees and pensioners. The revised DA will come into effect from April 1, 2025, raising the allowance from 30% to 33%. Over 1.85 Lakh Beneficiaries The decision will impact a total of 1,85,538 …
