The Lok Sabha has approved the Banking Laws Amendment Bill, aimed at improving financial security and streamlining nominee management in banking operations. This significant move allows account holders to designate up to four nominees for a single bank account, providing flexibility and enhanced safety for depositors and their families. Key Provisions of the Amendment The
The International Criminal Court (ICC) has issued an arrest warrant against Israeli Prime Minister Benjamin Netanyahu, accusing him of alleged war crimes in Gaza. This unprecedented move has led to sharp divisions among world leaders, with some applauding the decision as a step towards justice, while others view it as politically motivated. Allegations Against Netanyahu
The United States Securities and Exchange Commission (SEC) has accused Gautam Adani of offering bribes to secure solar power procurement deals, particularly through discussions with Andhra Pradesh Chief Minister Jagan Mohan Reddy in August 2021. These claims, part of the SEC’s court filings, allege Adani sought to address the state’s hesitancy to finalize agreements
North Korean leader Kim Jong Un has accused the United States of escalating tensions on the Korean peninsula to unprecedented levels, claiming the region faces the gravest risk of nuclear war in history. His remarks were delivered during a military exhibition in Pyongyang on Thursday, as reported by state media outlet KCNA. “Unchanging Aggression” From […]
Tax relief announced for India’s middle class by the government has been overshadowed by the persistent challenge of rising inflation. Despite a hike in the tax exemption limit, middle-income families are finding it difficult to offset the increased cost of living, particularly in key areas like food, healthcare, and education. Exemption Limit Hiked, But Inflation […]
State Bank of India (SBI), the country’s largest public sector lender, is set to open 500 new branches by the end of the financial year 2025, Finance Minister Nirmala Sitharaman announced during a recent address. The expansion will bolster SBI’s already extensive network, which currently stands at approximately 22,500 branches across India. Strengthening Financial
Adani Enterprises (AEL) reported a massive 664% year-on-year (YoY) increase in its consolidated net profit for the second quarter of FY25, soaring to ₹1,742 crore. This represents a significant jump from the ₹228 crore profit posted during the same period last year. Revenue Growth and Fundraising Plans AEL’s revenue from operations during the September quarter […]
India will implement restrictions on Foreign Direct Investment (FDI) in specific sectors to safeguard national security, announced Finance Minister Nirmala Sitharaman during an interactive session at Wharton Business School, U.S., on October 22. Sitharaman emphasized that while India welcomes foreign investment, it must ensure that such investments align with the country’s
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, participated in the India-Mexico Trade and Investment Summit in Mexico City. The event, themed “Enhancing Trade and Investment Collaboration,” attracted key stakeholders from both nations to explore multi-sectoral cooperation. The summit was organized by the Trade & Commerce Council
India’s foreign exchange (forex) reserves saw a sharp decline for the second consecutive week, dropping by USD 10.746 billion to reach USD 690.43 billion for the week ending October 11, according to data released by the Reserve Bank of India (RBI) on Friday. This marks one of the largest decreases in recent times, following a […]