India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Bhubaneswar: Reserve Bank of India (RBI) has nominated two officers to carry out the inventory of Ratna Bhandar (treasury) of Puri Jagannath Temple, law minister Prithiviraj Harichandan said on Friday."We had requested RBI to help us with experts for the smooth evaluation and cataloguing of Ratna Bhandar's assets. We have received a reply from the RBI, confirming the nomination of two experts," Harichandan told reporters.According to the minister, schedule of the ensuing inventory will be decided only after the reconstitution of the temple managing committee (MC), the principal decision-making body of the shrine. The 18-member managing committee, tasked with policy decisions, completed its three-year term on Sept 21, 2024."The new MC will be formed very soon. Following the MC's approval, the shifting of the jewellery from two temporary strongrooms to the renovated Ratna Bhandar will be carried out. Then, we will start the process of the inventory in the presence of the two RBI officers," the minister said. As planned earlier, the govt will create a digital catalogue of the valuables, highlighting their names, type and weight through proper photography/videography.The Shree Jagannath Temple Administration (SJTA) acknowledged the complexity of identifying the ancient jewellery. The administration intends to engage goldsmiths, valuers and gemologists from other states for this work."Our essential task involves accurately identifying the characteristics of the ancient ornaments, composition and the verification of precious stones, including diamonds, pearls and rubies," an SJTA official said.During the relocation of valuables to temporary strongrooms inside the shrine in July last year, some ancient idols and weapons, including swords and javelins, were discovered in the Ratna Bhandar, which the state govt had reopened on July 14, 2024 after 46 years. "We will ensure that the valuers properly assess the value of those idols," the official added.
A temple locked since 1978 communal riots in Sambhal, Uttar Pradesh, has been reopened by authorities during an anti-encroachment drive. The Bhasma Shankar temple, containing idols of Lord Hanuman and a Shivling, was rediscovered during an electricity theft inspection. This follows recent violence and heightened tensions in the area, including a mosque survey dispute and loudspeaker fine.The Sambhal administration here on Saturday uncovered and reopened a temple, which is said to have been closed ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
New Delhi: The Enforcement Directorate (ED) on Friday carried out searches at 15 places in Mumbai and Kochi in connection with the Mithi River desilting scam that caused a wrongful loss of more than Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC), official sources said. The massive crackdown is underway at the premises across Mumbai and Kochi linked to the accused and suspects as part of an ongoing probe into alleged financial irregularities. According to the sources, the searches are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA) at locat ...Read More >
Ayodhya: A total of 45 kilograms of pure gold has been used in the construction of the Ram Temple in Ayodhya, according to Nripendra Mishra, the chairman of the Ram Temple Construction Committee. He said the estimated value of the gold, excluding taxes, is around Rs 50 crore. Gold has been used extensively in the doors on the ground floor of the temple and the throne of Lord Ram.He added that gold work is still ongoing in the Sheshavatar Temple. While the main structure of the Ram Temple has been completed, other parts of the temple complex, including the museum, auditorium, and guest house, a ...Read More >
Ahmedabad, June 8 (SocialNews.XYZ) The MSC IRINA, recognised as the world's largest container ship by TEU (Twenty-foot Equivalent Unit) capacity, is set to dock at the Adani Group's Vizhinjam International Seaport on Monday and will be berthed till Tuesday. The monumental arrival marks a significant milestone for the seaport, which was dedicated to the nation by Prime Minister Narendra Modi on May 2. The MSC IRINA boasts an impressive capacity of 24,346 TEUs, making it a formidable player in global shipping. With a length of 399.9 metres and a width of 61.3 metres, the vessel is approximate ...Read More >
NEW DELHI: Axiom-4 crew members, including Shubhanshu Shukla, were welcomed with hugs and drinks as they stepped into the International Space Station on Thursday. The newly launched spacecraft -- the fifth in the Dragon series and named Grace -- successfully completed a soft docking with the International Space Station at 4.01pm while orbiting above the North Atlantic Ocean."At 6:31 am EDT (4:01 IST) on Thursday, the SpaceX Dragon spacecraft docked to the International Space Station for the fourth private astronaut mission to the orbiting laboratory, Axiom Mission 4," the National Aeronautics ...Read More >
Digha (West Bengal) [India], June 26 (ANI): West Bengal Chief Minister Mamata Banerjee visited Lord Jagannath temple in Digha in West Bengal on Thursday, ahead of Jagannath Rath Yatra scheduled to start on June 27. CM Mamata Banerjee said, "Lord Jagannath temple has become a major place of pilgrimage. The Rath Yatra will be held on a 1 km route from 9 am to 4 pm tomorrow. The aarti will be performed at 2.30 pm. Our ministerial team has arrived here for this." Also Read | 'Dreamer and Disciplined': School Teachers Recall Fond Memories of Shubhanshu Shukla As Astronaut Becomes First Indian To ...Read More >
Surat: The Amroli police in Surat have launched an investigation into a puzzling incident where an accountant working with a diamond firm reported that four fingers of his left hand were mysteriously severed after he fell unconscious near the Variyav Bridge. According to Tarpara's statement, he had gone to meet a friend near Vedant Circle and stopped on his way home to relieve himself. He claimed he suddenly lost consciousness and woke up to find the fingers of his left hand missing on Sunday ni ...Read More >
Hyderabad, Feb 10 (VOICE) Telangana's Minister for Industry and Information Technology D. Sridhar Babu has strongly condemned the attack on Chilkur Balaji Temple head priest C. S. Rangarajan and made it clear that the government will not tolerate anarchic elements hijacking Hinduism to spread hate and terror.Terming the attack on the chief priest and administrator of the temple as a heinous act, he said that the government would deal with such evil acts with an iron fist. "Although the main accused is in police custody, this isn't just a crime -- it's an attack on our values and faith! Using ...Read More >
Chennai, May 19 (SocialNews.XYZ) Three men have been arrested in connection with the brutal murder of an elderly couple in Tamil Nadu's Erode district on April 28, said police on Monday. The accused also allegedly confessed to their involvement in a triple murder that occurred in Tiruppur district in November 2024, currently under investigation by the CB-CID. The arrested have been identified as P. Aachiappan (48), N. Madeswaran (52), and R. Ramesh (54), all residents of Arachalur in Erode district. The victims, Ramasamy (72) and his wife Bakkiyam (63) of Megaraiyan Thottam, Uchimedu near S ...Read More >
Itanagar, Jun 7 (PTI) The flood situation in Arunachal Pradesh improved on Saturday with water levels of most rivers receding, even as 33,000 people in 24 districts remained affected, officials said. Twelve people lost their lives and one person went missing in rain-related incidents, including landslides, after the monsoon set in, they said. In its daily report, the State Emergency Operation Centre (SEOC) said 33,200 people in 215 villages remained affected due to floods and landslides in the state. The water levels of most major rivers and their tributaries were showing a receding trend o ...Read More >
New Delhi: In a significant ruling, the Supreme Court has directed that no new lawsuits related to places of worship (temples, mosques, or shrines) can be filed until further notice. This decision was made during the ongoing hearing of petitions challenging the Places of Worship (Special Provisions) Act, 1991. The ruling prohibits the lower courts from issuing any survey orders or interim orders that might alter the status or nature of any religious site. The bench, comprising Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice K.V. Vishwanathan, issued this order while hearing sev ...Read More >
New Delhi, Dec 18 (PTI) The Pakistan high commission on Wednesday said it issued 84 visas to Indian pilgrims to visit the Shree Katas Raj temples in Punjab province's Chakwal district. The group has been given visas to visit the Katas Raj temples from December 19 to 25. The temples are also known as Qila Katas. It is a complex of several Hindu temples connected to one another by walkways. Under the provision of a bilateral protocol on visits to religious shrines, Sikh and Hindu pilgrims from India visit Pakistan every year.Pakistani pilgrims also visit India every year under the protocol. ...Read More >
Mumbai: The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts. The Reserve Bank of India (RBI) has kept the repo rate (short-term lending rate) unchanged at 6.5 per cent since February 20 ...Read More >
Ayodhya: A new spiritual milestone was achieved in Ayodhya on Thursday with the grand Pran Pratishtha (consecration) ceremony of the Ram Darbar at the Shri Ram Janmabhoomi temple complex. Uttar Pradesh CM Yogi Adityanath participated in the sacred rituals as the chief guest, underscoring the occasion's spiritual and cultural significance. The Ram Darbar, installed on the first floor above the sanctum of Ram Lalla, features intricately carved idols of Lord Ram, Sita, Lakshman, Bharat, Shatrughan, and Hanuman. This event follows 498 days after the historic consecration of Ram Lalla on January 2 ...Read More >
CHENNAI: Indian equity markets opened on a strong note Friday, buoyed by the Reserve Bank of India's unexpected 50 basis point repo rate cut, which lifted investor sentiment and sparked a broad-based rally from early lows. The BSE Sensex rose 96 points or 0.12% to 81,538, recovering nearly 350 points from the day's intraday low. Similarly, the NSE Nifty50 gained 29 points or 0.12%, trading at 24,780, as markets welcomed the central bank's proactive move to support growth. Market Highlights The RBI cut the repo rate to 5.50%, exceeding market expectations. Governor Sanjay Malhotra noted that ...Read More >
The Odisha government has formed a high-level ministerial committee, headed by Deputy Chief Minister Pravati Parida, to ensure the smooth execution of the Rath Yatra in Puri on June 27. The committee will oversee all arrangements for the festival, expected to draw around 1.5 million attendees. Preparations are also underway for the Snan Yatra on June 11.The Odisha government has constituted a high-level ministerial committee to ensure the smooth conduct of the upcoming Rath Yatra of Lord Jagannat ...Read More >
Kottayam (Kerala), Dec 12 (PTI) The historic struggle for equality that took place in Vaikom a century ago, popularly known as the Vaikom Satyagraha, was not a movement confined to Kerala but marked the starting point for various other struggles for social justice, Tamil Nadu Chief Minister M K Stalin said on Thursday. In his address at Vaikom in this district after inaugurating the renovated Thanthai Periyar Memorial and Periyar Library, Stalin said that while impressive strides have been made in areas of social justice and economy in 100 years, a lot more has to be achieved. Stalin inaugur ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Ayodhya (Uttar Pradesh) [India], June 6 (ANI): Thousands of devotees rejoice as they make their way to the Shri Ram Janmabhoomi Temple today, a momentous occasion in the spiritual and cultural landscape of India. Uttam Kumari Sheluwal, a local from Nepal, said,' We've come to Ayodhya to visit the Ram Janmabhoomi Temple, where our beloved Bhagwan Shri Ramchandraji resides. Our family's Ishtadev is Bhagwan Shri Ram, and we worship Mata Janaki too. We're thrilled to be here in Ayodhya, the city of Lord Ram, and can't wait to have Darshan of Prabhu Shri Ram. We're grateful to Chief Minister Yogi ...Read More >
MUMBAI, India -- India's central bank cut interest rates more than expected on Friday. For this, the Reserve Bank of India (RBI) cited muted inflation and a need to kickstart economic growth. This happened as the impact of US tariffs weighed on the country's outlook. The RBI lowered the benchmark repo rate, the level at which it lends to commercial banks. This went down by 50 basis points to 5.5 percent. A majority of analysts had expected a 25-basis-point reduction. The cut was RBI's third in a row. This comes a week after government data showed India's economy expanded at its slowest pace ...Read More >
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region through the rail network. During his visit, PM Modi reviewed the Chenab bridge, world's highest ra ...Read More >
Policy 2 min read Cryptocurrencies hamper financial stability: RBI RBI Governor Sanjay Malhotra expressed concerns about cryptocurrencies, citing potential risks to financial stability and monetary policy. While the Supreme Court urged the Centre to formulate clear regulations, India is currently developing a discussion paper on cryptocurrencies, with an inter-ministerial group examining global norms. Mumbai, RBI Governor Sanjay Malhotra on Friday said the central bank is concerned about cryptoc ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
New Delhi, Dec 13 (PTI) The Supreme Court on Friday granted conditional future bail to former West Bengal minister Partha Chatterjee in a money laundering case related to the cash-for-job scam. A bench of Justices Surya Kant and Ujjal Bhuyan said that Chatterjee shall be released on February 1, 2025 subject to the trial court framing charges before the winter vacation and examination of vulnerable witnesses by the second and third week of January 2025. Also Read | Atul Subhash Suicide Case: Wife Nikita Singhania Absconds, Karnataka Police Arrest Her Mother, Brother From Uttar Pradesh's Jaunp ...Read More >
BHUBANESWAR/PURI: In a massive incentive, the Law department has approved Rs 2.25 crore for Daitapati servitors of the Shree Jagannath Temple if they ensure a smooth Rath Yatra. A proposal in this regard was sent by the Shree Jagannath Temple Administration (SJTA) recently. In a letter to the Srimandir chief administrator, the department informed that the government has approved Rs 2.25 crore as a 'special reward' for Daita servitors for disciplined conduct during the annual festival of the Trinity. The money will be paid from the SJTA funds and replenished with the allotment of funds as spe ...Read More >
NEW DELHI: Amid concerns over the recent moderation in net foreign direct investment (FDI) into India, Reserve Bank of India Governor Sanjay Malhotra on Friday sought to provide clarity, urging stakeholders to consider gross FDI figures instead, which present a more accurate picture of India's investment appeal. "While net FDI is important from a foreign exchange reserves management perspective, when it comes to understanding the investment landscape, gross FDI matters far more," Malhotra said while announcing the latest monetary policy decisions. Net FDI, which deducts outbound investments ...Read More >
Mathura (UP), Jun 7 (PTI) Devotees visiting the Mathura-Vrindavan region for temple visits often get a taste of the antics of the large monkey population as the simians steal spectacles, caps and food from visitors. Aligarh-based diamond merchant Abhishek Agarwal and his family were left shell-shocked when a monkey snatched his handbag containing jewellery worth Rs 20 lakh during their visit to the Thakur Banke Bihari temple in Vrindavan. However, providence smiled on the Agarwal family as after an eight-hour effort, the police were able to corner the monkey and get the handbag back, a senio ...Read More >
New Delhi: A viral YouTube video recently claimed that Rs 500 currency notes will stop being used from March next year. However, the Central government has dismissed these claims. In a post on X, the Press Information Bureau (PIB) clarified that the Reserve Bank of India (RBI) has made no such announcement, and Rs 500 notes will continue to be valid for transactions. A video posted on the YouTube channel 'CAPITAL TV' has created confusion by claiming that Rs 500 notes will be discontinued by March 2026. Clearing the air, the Press Information Bureau (PIB) shared a fact-check post on X, saying ...Read More >