PAYTM REPORTS ROBUST Q2FY24 EARNINGS, REVENUE JUMPS 32% YOY

Paytm, India's premier payments and financial services behemoth, declared impressive June quarter results, boosted by a rise in merchant subscription revenues, payment volumes, and loan distributions.

Madsto gains seed funding from Prajay Advisors for expansion

Rising men's casual wear brand, Madsto, proudly announces its successful seed-stage funding from Mumbai-based Prajay Advisors LLP. The exact funding amount remains undisclosed. Renowned fundraising platform, capitalCORN, played an instrumental role in guiding and realising this investment, strengthening Madsto's ambition to flourish in the cut-throat fashion retail arena.

RBI slaps Rs 2.5 crore penalty on L&T Finance

The Reserve Bank of India (RBI) has imposed a fine of Rs 2.50 crore on L&T Finance Limited due to regulatory breaches. This decision stems from L&T Finance's non-adherence to specific provisions outlined in the Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, as detailed in an official RBI statement.

Delhi HC directs public toilets' maintenance and standards

The Delhi High Court has asked the authorities to guarantee the maintenance of public toilets and facilities in accordance with proper sanitation standards. The court stressed that the operation and upkeep of these facilities are integral to effective management, and the implementation of a complaint reporting or feedback system is imperative.

J&K HC ORDERS EC TO ALLOCATE UNIFIED SYMBOL

The High Court of Jammu Kashmir and Ladakh has directed the Election Commission to assign a unified symbol to all candidates representing the 'Ekam Sanatan Bharat Dal' in the upcoming elections in four states scheduled for November this year.

India sees surge in jobs amid EV sector boom

India is speeding ahead in the Electric Vehicle (EV) race, promising millions of direct and indirect jobs in the upcoming decade. The EV surge, fueled by hundreds of new manufacturing and green infrastructure startups, has led to a skyrocketing demand for workers proficient in green skills.

Indian auto exports slip, passenger vehicles grow 5%

Automobile exports from India faced a decline of 17.5% in the first half of the fiscal year 2023-24, with a total of 22.11 lakh units shipped as opposed to 26.80 lakh units in the same period the previous year. This slump spanned across various segments like two-wheelers, commercial vehicles, and three-wheelers. In a silver lining, the passenger vehicle (PV) segment witnessed a growth of 5%.

SUVS DOMINATE INDIA'S AUTO MARKET AMID SHIFTING PREFERENCES

Indian consumers are increasingly choosing sport utility vehicles (SUVs) over traditional hatchbacks and sedans, marking a noticeable shift in the nation's car market.

Razorpay's 'DrishtiPay' tops RBI's Global Hackathon 2023

Razorpay, a front-runner in India's full-stack payments and banking services for businesses, has clinched the first position at the RBI's 2nd Global Hackathon, 'HaRBInger 2023'. The accolade is for their groundbreaking product, 'DrishtiPay', specifically designed to streamline card and UPI payments for the visually impaired.

COAL INDIA SOARS: ROBUST PRODUCTION BOOST AND BULLISH MARKET OUTLOOK

Looking at VISION 2024, The Ministry of Coal has set an ambitious target of 1.23 billion tonnes of enhancing the production of coal by FY25 to ensure the energy security of the country.

Govt raises jute MSP as bumper crop causes concern

Amid fears that a bumper crop and last year's unsold production of jute could impact farmers, the Centre has increased the minimum support price (MSP) to Rs 5,050 per quintal for the standard grade.

HP launches 'Sapno Ka Sanchay' for students

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu inaugurated the 'Sapno Ka Sanchay' scheme, a deposit-linked loan initiative by the Himachal Pradesh State Cooperative Bank, designed for students aged 10 to 18. The scheme underlines the growing trust in the cooperative banking sector.

RBI STRESSES VIGILANCE TO SAFEGUARD MACROECONOMIC STABILITY

Reserve Bank of India (RBI) Governor, Shaktikanta Das, underscored the imperative for monetary policy to remain vigilant and poised for intervention, emphasising the preservation of hard-won macroeconomic stability.

BIDEN ADMINISTRATION PROPOSES STREAMLINING H-1B VISA PROGRAM

In an effort to bolster its position as a magnet for global talent, the Biden administration unveiled proposed modifications to the H-1B visa program, which caters to foreign workers in specialised occupations. This program enables US companies to tap into international expertise, predominantly from nations like India and China.

Same Sex Marriage Judgment : Analysis

In a nation where the rich tapestry of diversity is woven into its very identity, the recent pronouncement by the Supreme Court of India on same-sex marriage has evoked a sense of missed opportunity-a lamentable instance where the scales of justice, equality, and progress seemed to tip askew. While ostensibly rooted in legal intricacies and the demarcation of legislative boundaries, the verdict reveals itself as a poignant moment in time when India, in the eyes of many, could have etched a legacy of societal transformation.

Geopolitical jigsaw: Unravelling its impact on financial market resilience

Increased uncertainty and rising cross-border tensions affect global capital flows and financial stability. Tensed ties between the USA-China, the Russia-Ukraine crises, the most recent Israel-Hamas war etc., are a few recent geopolitics situations which have affected overall financial and capital market stability. As per the IMF report, since 2016, there has been about a 15 per cent reduction in bilateral cross-border allocation of portfolio investment and bank claims between the USA and China.

Canada pulls 41 diplomats from India: Foreign Minister Melanie Joly

In the midst of a diplomatic spat over the death of a Sikh separatist, Canada has pulled 41 diplomats and their families out of India by Friday, Foreign Affairs Minister Melanie Joly has said, after the country threatened to revoke their diplomatic immunity.

ISRO prepares for maiden human space flight programme

The launch of a single-stage liquid propulsion rocket on Saturday will signal ISRO's journey towards its ambitious human space flight programme, Gaganyaan, when the first crew module test to ensure the safety of astronauts will be conducted by the space agency here.

Delhi court extends judicial custody of NewsClick's founder till Oct 25

The Patiala House Court judicial custody of NewsClick's founder and Editor-in-Chief Prabir Purkayastha and HR head Amit Chakravarty till October 25, 2023.

CM MANN UNVEILS TATA STEEL'S 2ND LARGEST PLANT IN COUNTRY

The work could start within a year of its announcement only because ofan approach characterised by what he called MoDS(memorandum of dil se), instead of the obsolete’ MoUs, CM Mann added

PUNJAB AND HARYANA HIGH COURT DIRECTED POLICE TO CONSIDER PROTECTION PLEA MOVED BY SAME SEX LIVE-IN COUPLE

The Punjab and Haryana High Court in the case X v. State of Punjab & Ors observed and has directed the Senior Superintendent of Police to look into and pass appropriate orders on representation filed for police protection by a same-sex live in couple.

SC Directed Union And States; Increased Compensation for Sewer Deaths To Rs 30 Lakh Completely Eradicate Manual Scavenging

The Supreme Court in the case Dr. Balram Singh vs Union of India observed and has issued the categorical direction to the Union Government and all State Governments for ensuring the complete eradication of the practice of manual scavenging.

DELHI HIGH COURT PERMITTED WOMAN LIVING SEPARATELY FROM HUSBAND TO TERMINATE 23 WEEKS PREGNANCY

The Delhi High Court in the case Mrs B. v. The Union Of India And Anr observed and has permitted the woman living separately from her husband and desirous of taking divorce to terminate her 23 weeks pregnancy.

3 Out of 4 flexi workers on contract, 6 months in FY23

In the financial year 2023 (FY23), more than three out of four flexi workers had contracts that lasted more than six months.

Wipro cuts new hiring amid tech spending slowdown

Wipro Ltd., an Indian outsourcing company for computer services, has announced that it will be hiring fewer engineering graduates this year due to cautious clients who are reducing their spending.

TATA GROUP EYES $1 BN SUPER-APP EXPANSION

TheTata Groupisconsideringinjecting$1 billionof fresh capital into itssuper appventure to enhance its digital

ICMR tests drone delivery of medical supplies

As part of India's national initiative to advance the drone ecosystem, the Indian Council of Medical Research (ICMR) is conducting a feasibility assessment in Himachal Pradesh's Lahaul and Spiti districts. The initiative seeks to explore the use of drones for transporting critical medical supplies, such as medications, diagnostic blood samples, and sputum, to remote areas.

EatSure to deliver food to train passengers in India

Rebel Foods' EatSure platform has unveiled a partnership with the Indian Railway Catering and Tourism Corporation (IRCTC) to introduce a food ordering feature on its app that caters to train passengers. The service allows travellers to order food from a variety of restaurants and have it delivered directly to their seats using their PNR (passenger name record) numbers while traveling on the Indian Railway Network.

INDIA'S RURAL ROAD CONSTRUCTION GETS A MAKEOVER

Therural development plan has been poorly’ performing for some time now, as it has been continuously missing its targets for the April-June period since FY16

India tells developed WTO members to drop moral high ground

In a recent agriculture negotiation meeting held in Geneva and chaired by Ambassador Alparslan AcarI soy of Türkiye, India emphasized its commitment to the welfare of developing nations and its understanding of their needs in trade negotiations. The discussions were focused on the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO), scheduled for February 2024 in Abu Dhabi.