BUSINESS
Hyundai Motor and Kia EVs Earn Top Ratings in Major Global Crash Safety Tests
The models include the Genesis GV60, Hyundai's Ioniq 5 and Ioniq 6, and Kia's EV6 and EV9.
Government Greenlights Unified Pension Scheme, Benefiting 23 Lakh Employees Nationwide
The financial burden for arrears under this scheme has been outlined by the government as Rs 800 crore, with an anticipated annual cost increase of about Rs 6,250 crore in the first year. The scheme is likely to be implemented from April 1, 2025, and Central government employees will have the option to opt either for NPS or UPS. Existing subscribers of the Centre's NPS, too, will be provided with an option to shift to the UPS.
Cognizant Sues Infosys Over Trade Secrets; Infosys Denies Allegations
Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
Indian Markets Poised to Respond Positively to US Rate Cut Announcement
The S&P 500 rallied Friday as market sentiment improved on Federal Reserve Chair Jerome Powell's dovish monetary policy stance, who reiterated that "the time had come" for an adjustment.
Audit Reveals Rs 8,884 Crore in Outstanding Loans to Indirect Entities by Anil Ambani's Reliance Home Finance
These auditing practices brought to light a number of lapses in its lending practices. Some of these anomalies related to the loan sanctioning process and the reclassification of loans to related parties just before disbursement as non-related loans. The trends in the repayment pattern of borrower entities, the auditors identified, included circular transactions and evergreening of loans in a number of transactions.
India's Forex Reserves Surge by $4.6 Billion, Reaching $674.7 Billion
In the week ended August 16, foreign currency assets, a major component of the reserves, increased by $3.6 billion to $591.6 billion, the RBI data showed.
Ambuja Cements' Shares Rise Following Rs 4,198 Crore Stake Sale by Promoter Entity
Holderness Investments Ltd, a company owned by billionaire Gautam Adani and his family, is said to have offloaded 2.84 per cent of its equity, making the deal size close to about Rs 4,197.8 crore based on the floor price.
SEBI Imposes Five-Year Ban on Anil Ambani and 24 Others from Capital Market
Has slapped a fine of Rs 25 crore on Anil Ambani and barred him from associating with the securities market, including as a director or key managerial personnel in any listed company, or any intermediary registered with the market regulator, for five years. Besides, the regulator barred Reliance Home Finance Ltd from the securities market for six months with a fine of Rs 6 lakh.
Sensex and Nifty Hold Steady as Global Cues Remain Mixed
Broader market trends remained positive. In the National Stock Exchange (NSE), 1,122 shares were in the green and 1,083 shares in the red.
Indian economy is on upswing, says Finance Ministry
"The month saw impressive milestones being reached, substantial growth in GST collections, and a significant rise in e-way bill generation, pointing to an overall increase in economic activity. The stock market indices also reached record highs in July," it states. On balance, India's economic momentum remains intact.
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