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.
New Delhi: Homebuyers' body FPCE has demanded that real estate law 'RERA' should be amended to incorporate a mechanism for verifying the track record of builders before granting permission to launch projects for sale.It also sought a new provision in the legislation to ensure compensation to homebuyers if builders fail to meet their promise of providing certain facilities and amenities. The association has also demanded a uniform rule for refund of money in case of cancellation of units by property buyers.Forum For People's Collective Efforts (FPCE) President Abhay Upadhyay has written a letter to Union Minister of Housing and Urban Affairs Manohar Lal, seeking amendments in the Real Estate (Regulation and Development) Act, 2016 (RERA) to give more teeth to regulators for protecting the interest of consumers. Through his letter, Upadhyay, who is also a member of Central Advisory Council, RERA formed by the ministry, has tried to highlight certain critical gaps in the RERA Act, causing significant injustice to homebuyers across India.The association has suggested introduction of a separate section in the Act to specifically address the issue of failure of builders in providing promised facilities and amenities in their projects. As amendments in the Act might take time, the FPCE said the ministry should issue an SOP (standard operating procedure) to all RERA authorities directing them to ensure builders deposit adequate funds in an escrow account to complete pending facilities. The regulators should monitor and enforce timely completion of such facilities.Further, the FPCE pointed out that there is no mechanism to verify a promoter's track record before a new project registration. RERA authorities currently do not verify whether a promoter has cleared all dues to allottees of other projects as well as charges levied by the central or state authorities or any courts/forums/quasi-judicial bodies.As a result, Upadhyay said, "Errant developers with poor track records continue launching new projects, perpetuating injustice to new buyers." He suggested that the ministry mandate all RERA authorities to obtain a declaration from promoters before registering any new project. In the declaration, the promoters must confirm that they have cleared all dues payable to the allottees, including under any order of any forum, court or any quasi-judicial bodies across pan-India jurisdiction.Promoters should also declare that they have cleared all dues payable to any authorities/forums/courts across India, including any penalty levied by any such bodies, it suggested. The declaration should apply not only to the promoter company but also to group companies with same brand name; entities with common promoters/shareholders, the FPCE said.If any promoter submits false declaration, there must be legal provision to permanently bar such promoter pan-India from real estate business, it added. "These gaps need urgent policy intervention through amendments to the Act or, in the interim, through Standard Operating Procedures (SOPs) to all state RERA Authorities," Upadhyay said in the letter.The FPCE president noted that this is a wake-up call for the ministry."Builders are brazenly exploiting homebuyers -- ?delaying projects, misappropriating funds, and violating agreements -- right under the nose of RERA authorities...," he said. Upadhyay rued that many authorities remain passive spectators, despite having sweeping powers under the RERA Act to investigate, penalise, and pass binding orders."Their (regulators) silence and inaction, in the face of glaring violations, raise serious questions about regulatory will, ?and in some cases, suggest a troubling nexus that shields errant builders from accountability," the president said. Upadhyay said the RERA registration number has not become a symbol of trust for consumers, "unlike FSSAI, where the stamp itself instills confidence that the product is safe for consumption, the RERA registration number has failed to become a symbol of trust".In the letter, Upadhyay said the state RERA authorities have failed to rein in these exploitative practices and it is now imperative that the Union ministry urgently steps in.
NEW DELHI, July 2: In a significant move aimed at reducing pension-related legal disputes and ensuring swifter justice for India's growing population of retired Government employees, Union Minister Dr. Jitendra Singh today , while chairing the first-ever "National Workshop on Pension Litigation" organised by the Department of Pension & Pensioners' Welfare at Vigyan Bhawan here, said that in no case should the vital energies of our elder citizens be allowed to be consumed inconsequentially for avoidable reasons because they may be "retired from Government service but not retired from service to ...Read More >
Mumbai: Domestic institutions, including mutual funds and Life Insurance Corporation of India (LIC), hold the key to allowing Subhash Chandra-led promoter entities to increase their stake in Zee Entertainment Enterprises Ltd. That's when Norges Bank, the company's largest overseas investor, has given its assent. LIC (4.49%), HDFC Mutual Fund (3.66%) and ICICI Prudential Mutual Fund (3.04%) together own over a tenth of the outstanding shares of Zee as of 31 March, making their decision crucial. HDFC Life Insurance (1.57%) is another significant shareholder. Zee has intensified its outreach to ...Read More >
New Delhi, Jul 15 (PTI) YouTuber Samay Raina appeared before the National Commission for Women (NCW) in Delhi on Tuesday, months after he was summoned in connection with allegedly offensive and sexist content aired during his show "India's Got Latent", officials said. Raina was also among the five social media influencers who appeared before the Supreme Court in a case seeking action against them for ridiculing persons suffering from disabilities. Raina submitted his statement in response to the allegations to NCW officials. Officials said further steps will be considered after reviewing his ...Read More >
New Delhi [India], July 16 (ANI): The Indian government expressed regret on Tuesday over the reported demolition of the ancestral property of celebrated filmmaker and writer Satyajit Ray in Mymensingh, Bangladesh and expressed its willingness to extend cooperation in its restoration. "We note with profound regret that the ancestral property of noted filmmaker and litterateur Satyajit Ray in Mymensingh, Bangladesh, belonging to his grandfather and eminent litterateur, Upendra Kishor Ray Chowdhury, is being demolished," the Ministry of External Affairs said. Also Read | India Urges Bangladesh ...Read More >
Bhubaneswar: It was a proud moment for Odisha as its urban areas received Swachh Survekshan Awards 2024-25 from President Droupadi Murmu on Thursday in recognition of the commitment to urban cleanliness. The state continued to shine in Swachh Shehar 2024-25 national cleanliness rankings as the Notified Area Council (NAC) of Aska in Ganjam district was awarded for winning second rank in the 20,000 to 50,000 population category. Similarly, the NAC of Chikiti, also in Ganjam, received the award for bagging second rank in the less than 20,000 population category. Bhubaneswar was recognised as t ...Read More >
The National Investigation Agency (NIA) has charged five individuals, including goldy Brar, in relation to the 2024 Gurugram club bombing plot, as revealed in a recently filed chargesheet. This case involves a conspiracy to bomb two clubs, aiming to disrupt communal harmony in Haryana, with the banned terrorist group Babbar Khalsa International (BKI) implicated. The NIA's investigation highlights the severity of the plot. Those charged include satinderjit Singh (Goldy Brar), Sachin Talian, Ankit, Bhavish, and Randeep Singh. News Directory 3 provides crucial updates on sensitive cases such ...Read More >
New Delhi: The Aircraft Accident Investigation Bureau (AAIB) is probing from all angles, including sabotage, in the Air India plane crash in Ahmedabad that killed 274 people on board and on the ground last month, Minister of State (MoS) For Civil Aviation Murlidhar Mohol said. Mohol said the black box of the Air India flight AI 171 that has been recovered is in AAIB's custody and will not be outside the country for a thorough assessment. The MoS was speaking at the Pune chapter of the Emerging Business Conclave. "It (plane crash) was an unfortunate incident. The AAIB has begun a full investig ...Read More >
NEW DELHI: In a significant move aimed at reducing pension-related legal disputes and ensuring swifter justice for India's growing population of retired government employees, Union Minister Dr. Jitendra Singh on Wednesday, while chairing the first-ever "National Workshop on Pension Litigation" organised by the Department of Pension & Pensioners' Welfare at Vigyan Bhawan here, said that in no case should the vital energies of our elder citizens be allowed to be consumed inconsequentially for avoidable reasons because they may be "retired from government service but not retired from service to t ...Read More >
Hyderabad: The Rangareddy District Consumer Disputes Redressal Commission has issued a legal notice to Telugu superstar Mahesh Babu, who was the brand ambassador for Ms Sai Surya Developers, a real estate firm now under legal scrutiny. The notice comes in response to a complaint filed by individuals who claim they were misled by the firm's marketing campaigns -- which featured Mahesh Babu prominently. The commission has named the actor as the third respondent in the case, underlining his involvement in promotional activities that allegedly influenced investment decisions. According to the co ...Read More >
Amritsar: BJP MP Nishikant Dubey from Jharkhand has claimed that Britain assisted India in executing the 1984 Operation Bluestar at the Golden Temple in Amritsar, stoking a new controversy.In a post on X on Monday, Dubey alleged that then PM Indira Gandhi "launched an attack on the Golden Temple in collaboration with Britain", with British Army officers present in Amritsar.He uploaded a classified British document, "Sikh Community", claiming that on Feb 23, 1984, the UK Foreign and Commonwealth Office mentioned in a letter that the Indian govt had sought British advice over a plan to remove Si ...Read More >
PNN New Delhi [India], July 8: In a strategic move to reinforce its position as a forward-thinking organization, TRC Corporate Consulting Private Limited has revamped its brand identity with the launch of a refreshed logo. TRC rebranding signifies a renewed vision to pivot TRC into a tech-driven global consulting firm, moving ahead firmly to protect organizations against emerging business risk in a dynamic and ever-changing environment. The new logo, imbued with a vibrant green palette, serves as a symbol of progress, vitality, and strategic foresight. Every element has been thoughtfully des ...Read More >
Union Minister Jyotiraditya Scindia has set an ambitious growth target of 20-30% for India Post's various circles in the current fiscal year. He emphasized cultivating a service-oriented culture to enable India Post to compete in logistics and financial services. The goal is to transform India Post into a sustainable profit center while upholding its social responsibility. Union minister Jyotiraditya Scindia has set a growth target of 20-30 per cent for various circles of India Post for the curr ...Read More >
Union Minister of Parliamentary Affairs Kiren Rijiju will hold a meeting with the floor leaders of political parties in both the Houses of Parliament, ahead of the Monsoon Session of Parliament scheduled to begin on Monday. The meeting will be held in Main Committee Room, Parliament House Annexe. The meeting will be followed by a media briefing. The meeting will commence at 11:00 AM, as per an official communication. The Government had earlier announced the schedule for the Monsoon Session of ...Read More >
NEW DELHI: The Housing and Urban Affairs Ministry is likely to build a 7-km underground metro corridor connecting key landmarks such as the new Common Central Secretariat, India Gate, Bharat Mandapam and the North and South blocks to the Indraprastha metro station, sources said on Tuesday. The Delhi Metro Rail Corporation (DMRC) has been asked to finalise the proposed alignment, they said, adding it will be an extension of the Inderlok-Indraprastha metro corridor that was approved by the Union Cabinet earlier this year. According to the plan, the proposed line will pass through the Kartavya P ...Read More >
New Delhi: Alleging "blatant misuse" of agencies to defame its leaders, AAP on Thursday questioned why the first information report filed against former Delhi ministers Saurabh Bharadwaj and Satyendar Jain was being kept under wraps and "selective" press notes were being leaked to the media.Bharadwaj, who is Delhi AAP convener, alleged that only two former ministers were named in the case without any reasonable cause while all the officers of the health and public works departments, who were actually responsible for executing the hospital projects, were spared. "Is the FIR so baseless that BJP ...Read More >
New Delhi [India], July 15(ANI): Union Home Minister Amit Shah on Tuesday chaired a high-level meeting to review the Delhi Master Plan 2041 (MPD-2041), bringing together key stakeholders, including Delhi Chief Minister Rekha Gupta and Union Minister Manohar Lal Khattar. Delhi Home and Urban Development Minister Ashish Sood also attended the meeting, which comes a day after a separate review session on the provisions of the MPD-2041 was conducted at the Delhi Secretariat. The Delhi Development Authority (DDA) had submitted the draft of the master plan to the Union Ministry of Housing and Urba ...Read More >
New Delhi: The death sentence of Kerala nurse Nimisha Priya, who was sentenced to death in Yemen, has been postponed for the time being. She was to be executed by shooting today, July 16. According to media reports, activist groups and influential religious leaders intervened in the matter, after which the death sentence of Nimisha Priya was postponed. Earlier, many efforts were also made at the diplomatic level to save Nimisha from the death penalty. There is also news that the victim's family has not yet agreed to clemency or blood money. As a last-ditch effort to save her, Kanthapuram A. ...Read More >
PUNE: In a move to empower homebuyers and enhance transparency, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has revised its project registration certificates to include critical details about real estate projects in a concise, reader-friendly format. For the first time, the certificate -- issued at the time of project registration -- includes comprehensive data such as the project's total built-up area, number and names of buildings and wings, approved habitable floors, total residential and non-residential units, commencement certificate status, and number of parking spaces f ...Read More >
New Delhi, Jun 26 (PTI) Union Minister Sarbananda Sonowal on Thursday launched the country's first non-banking financial company in the maritime sector -- Sagarmala Finance Corporation Ltd (SMFCL). As a sector-specific NBFC, SMFCL is set to bridge financing gaps in the maritime sector and catalyse economic growth, the minister of Ports, Shipping and Waterways said. Also Read | What Are the New Metro Compensation Rules in India? Ministry of Housing and Urban Affairs Enhances Payouts for Death and Severe Injuries; Check Details. The corporation will provide financial products -- including sho ...Read More >
Gurgaon: Two days after a law student died and his friend suffered critical injuries when a car knocked them down as they stood near railing on the service lane of Delhi-Jaipur highway in the early hours of Tuesday, a civil engineer was arrested on Thursday.Mohit (31), an employee of a private company in the city, told police that he got drowsy while driving. He is staying at a PG facility in Sector 14.The student who died, Harsh Singhal (25), was a resident of Om Nagar colony. His friend Abhishek Kumar (23), who is from Shanti Nagar in Sector 11, is undergoing treatment at a private hospital ...Read More >
Mumbai: Net profit of Nifty 50 companies at the aggregate level is expected to increase 4.6% year-on-year while revenue may increase 4.5% for the June 2025 quarter. Net profit is likely to show single-digit year-on-year growth for the first time in at least nine quarters amid an anticipated poor performance by select companies, including Tata Motors, IndusInd Bank and Coal India. The sample's revenue is expected to grow in single digit for the fourth consecutive quarter reflecting persistent muted demand scenario. Select companies from metals, pharmaceuticals, cement, banking and finance and ...Read More >
Nagpur: Surjagarh Iron Ore Mines of Lloyds Metals and Energy Ltd (LMEL) have brought laurels to Gadchiroli district by bagging 5-star rating from the Indian Bureau of Mines (IBM) under the Union Ministry of Mines. Union minister of coal & mines G Kishan Reddy presented the 5-Star Rating memento and certificate to senior officials of LMEL in a ceremony held at Rajasthan International Centre, Jaipur, on July 7. Surjagarh mines have won this national recognition for its stellar performance in operational excellence and green innovation in 2023-24. Reddy presented the award to LMEL officials in pr ...Read More >
NEW DELHI: The New Delhi Municipal Council (NDMC) has bagged the top position in the 'Super Swachh League' of Swachh Survekshan Awards, in the category of cities with a population of 50,000-3 lakh, for its exemplary work in urban sanitation, waste management, and green initiatives. Meanwhile, Noida has emerged as the cleanest city with a population of 3-10 lakh in the same category. On the other hand, the Municipal Corporation of Delhi (MCD) secured 31st position in the 'Medium Cities' category. The Swachh Survekshan Awards, now in their ninth edition, are based on the results of the world's ...Read More >
Bareilly (UP), Jul 17 (PTI) A teacher from Bahedi district, who went viral recently after reciting a poem mentioning Kanwar Yatra, approached the police on Thursday stating a threat to his life from anti-social elements. A case has been registered at Bahedi police station based on a complaint from Dr Rajneesh Kumar Gangwar, a teacher at MGM Inter College in the district. According to Circle Officer Arun Kumar Singh, Gangwar's complaint says that ever since his recitation of the poem 'Tum Kanwad Lene Mat Jana, Gyaan Ka Deepak Jalaana' (You don't go get Kavad, light the lamp of knowledge inste ...Read More >
Mumbai, June 29 (SocialNews.XYZ) It was a belligerent, brilliant, and breathtaking performance from the Chennai Bulls, who were crowned the first ever champions of the Rugby Premier League, here in Mumbai, at the Shahaji Raje Bhosale Sports Complex. The Chennai Bulls thrashed the Delhi Redz by a scoreline of 41-0 in the final, to clinch the title. In fact, the margin of victory is the biggest across Season 1 of the GMR RPL. Meanwhile, the Hyderabad Heroes, who had finished top of the table in the league stage, came away with a third-place finish, after they won 17-12 against the Bengaluru Bra ...Read More >
Baramulla, Jul 5: Hundreds of mourners from Delina and its neighbouring villages Saturday participated in the Muharram procession, the 9th day of the month of Muharram-Ul-Haram at Delina area of north Kashmir's Baramulla district. The procession was one of the series of processions being held in the month of Muharram, the first month of Islamic calendar. Dressed in black and carrying flags bearing religious inscriptions, participants from the villages of Hygam, Bulgam, Bohripora, Syedpora, Uri, Boniyar and other villages marched from new Imambargah through the National Highway NH-1 to the ma ...Read More >
, /PRNewswire/ -- Canaan Inc . (NASDAQ: NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that the Company will participate in the following investor conferences in . Canaan's management plans to host one-on-one meetings with institutional investors at the conferences. For more information about the conference or to schedule a one-on-one meeting, please contact your representative at each institution or contact the Company at IR@canaan-creative.com. About Canaan Inc. Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technolo ...Read More >
As Prime Minister Narendra Modi completes 11 years of his tenure, senior Advocate and former President of Supreme Court Bar Association Adish Aggarwala has come up with a book capturing this journey. The book titled 'Modi's Niti Shastra: The World's His Oyster' reflects upon the Prime Minister's transformative impact in politics, economics, social equity, citizen welfare, national security, and governance. Home Minister Amit Shah praised the release of the book, calling it "a matter of abundant ...Read More >
BENGALURU: BBMP marshals deployed at lake security and supervision wing, ward monitoring and Indira Canteens are working without salaries since March. The situation has arisen after Bangalore Solid Waste Management Limited was carved out of BBMP for garbage management. Their salaries are usually given through the Ex-Servicemen Welfare Society and each marshal is paid Rs 17,500 monthly. "Supervisors say the delay is due to a set of procedures. Earlier, the amount was given to the Ex-Servicemen Welfare Society towards payments from BBMP. Now the files have to be cleared from BWSML to ward mars ...Read More >
New Delhi [India], July 15 (ANI): President Droupadi Murmu will be conferring the prestigious Swachh Survekshan 2024-25 Awards at a national ceremony organised by the Ministry of Housing and Urban Affairs (MoHUA) at Delhi Vigyan Bhawan on July 17 (Thursday), according to an official statement from the ministry. The awards will be given in the presence of Union Minister Manohar Lal and Minister of State, MoHUA Tokhan Sahu, the statement added. Swachh Survekshan 2024-25 marks the ninth edition of the world largest urban cleanliness survey. This event will unveil the cleanest cities of urban In ...Read More >