COOPERATIVE FUNDS
What does Keir Starmer's win mean for the Khalistan issue?
The UK's Labour Party's recent election win in parliamentary election raises questions about its stance on movements like Khalistan. New PM Keir Starmer aims to improve UK-India relations, but concerns remain due to the party's past support for pro-Khalistan leaders.
SCO fosters regional stability & multilateral coop: Kazakhstan
The SCO Summit in Astana, Kazakhstan, represents a significant event for over 3 billion people. Kazakhstan, as a founding member, prioritizes the SCO's development within its balanced foreign policy. Deputy Foreign Minister Roman Vassilenko emphasized the summit's role in mutual respect and consensus-building. Under Kazakhstan's presidency, over 150 events focused on energy, digitalization, and environmental protection. President Tokayev's "World Unity for Just Peace and Harmony" initiative highlights Kazakhstan's influence. Kazakhstan's strategic location, rich resources, and strong economic growth make it a key player in global diplomacy and trade.
Hindenburg has never been a client of the firm, Kotak Mahindra International says
Kotak Mahindra International Limited (KMIL) clarified on Tuesday that Hindenburg has never been a client or investor of the firm. The company made the statement to address any confusion regarding their relationship with Hindenburg.
Leaders expected to discuss prospects of multilateral cooperation at SCO Summit in Astana, says MEA
In a press release, MEA stated, "At the Summit, the leaders are expected to review the organization's activities over the past two decades and discuss the state and prospects of multilateral cooperation. Topical issues of regional and international importance are also expected to be discussed at the meeting."
Quant Mutual Fund probe: Should you stay invested or exit your investment?
All things considered, and drawing parallels with the past cases, there is little logic in investors rushing to exit Quant funds based on what we know so far. While it’s possible that the circumstances may be worse than they currently appear to be, a wait and watch approach might be the most prudent policy at this stage.
Kerala: ED attaches land, bank deposits of CPI(M) in money laundering case
The Enforcement Directorate has attached a land parcel in Kerala and bank deposits worth Rs 73 lakh, alleged to belong to the CPI(M), in connection with a money laundering probe related to the Karuvannur Service Cooperative Bank "scam." The CPI(M) has denied allegations of wrongdoing and money laundering.
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Quant Mutual Fund crisis: How NAVs have been impacted since Sebi investigation
Investor concerns arise as front-running case impacts Quant Mutual Fund. Despite NAV declines in Quant Healthcare Fund and Quant Commodities Fund, stability is maintained with rising NAVs of Quant ESG Equity Fund and Quant Focused Fund.
Quant Mutual Fund answers FAQs on Sebi probe, returns expectations
Stating that there was no further action from SEBI int the suspected front running case in which it is being probed, Quant Mutual Fund today assured investors in a communique that the fund house is functioning normally and its performance would be at par with its style.
Quant MF reassures investors: Gross inflows normal, liquidity position robust
Quant MF reaffirmed its commitment to fully cooperate with the Sebi during its ongoing review, as reported by ET Now on Wednesday. The fund house has assigned dedicated personnel to provide regular data to the regulator.
Hold your horses, Morningstar tells Quant MF investors rushing for the exit door
Quant Mutual Fund's net asset values experienced a slight dip on Monday, with the Quant PSU Fund seeing the largest decrease of up to 1.09%. Small-cap and mid-cap funds also saw minor decreases of 0.66% and 0.94%, respectively.
Quant Mutual Fund schemes NAV falls after Sebi investigation
The markets regulator, Sebi, is investigating a suspected case of front-running involving Quant MF, which manages assets worth Rs 93,000 crore. This has raised concerns among numerous investors about the security of their investments.
B2B fashion platform Zyod raises $18 million in funding
Zyod's equity funding round was led by venture firm RTP Global, while the debt capital came from Stride Ventures, Trifecta Capital and Alteria Capital. In April last year, Zyod had raised $3.5 million in a funding round led by Lightspeed Venture.
Increase minimum selling price of sugar to Rs 42/kg, says industry body NFCSF
The National Federation of Cooperative Sugar Factories (NFCSF), representing co-operative sugar mills in India, has requested the central government to increase the minimum selling price (MSP) of sugar by 35% to Rs 42/kg. The MSP was introduced in 2018 and last revised in February 2019. However, sugar prices have been consistently higher than the MSP, with ex-mill prices in Maharashtra being Rs 36/kg, and retail prices in the range of Rs 42-44/kg. The NFCSF has already submitted its proposal to the Union Government.
Pakistan Prime Minister Shehbaz Sharif, Chinese President Xi agree to upgrade CPEC
The CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is the flagship project of China's ambitious Belt and Road Initiative (BRI). The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments across the world. China has also invested billions in various power projects and road networks in Pakistan under the USD 65 billion CPEC plan, but the implementation of various projects has slowed in recent months.
Cooperation Minister reviews progress of pilot grain storage projects launched in 11 states
The National Level Coordination Committee (NLCC) chaired by Ashish Kumar Bhutani reviewed India's grain storage project progress initiated by the Ministry of Cooperation.
DICGC posts 17% growth in insurance fund
The fund is collected by premiums received from insured banks, interest income from investments, and cash recoveries from failed banks. The deposit insurance limit in India is set at ₹5 lakh per depositor per bank.
Developed countries fulfilled USD 100 billion climate finance promise in 2022: OECD report
Developed countries met their long-standing promise of mobilizing USD 100 billion a year to help developing countries mitigate and adapt to climate change in 2022, according to the latest data published by the Organisation for Economic Co-operation and Development (OECD) on Wednesday.
Avaada Energy secures Rs 315 crore finance for captive solar project in Karnataka
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF). The funding from AIFL demonstrates Avaada's project financing capability and strategy. The project, located in Kalaburagi district, is expected to be completed in Q3 FY25.
India seen to emerge as an economic superpower in impending problem-ridden global financial landscape
Global recession risks have diminished, but inflation concerns threaten financial stability. The IMF, World Bank, and rating agencies forecast a slowdown in global growth, citing Middle East conflicts, financial stress, persistent inflation, and reduced international trade as key risks. The IMF's Global Debt Monitor reveals global debt at $235 trillion, or 238% of global GDP, raising fears of a debt crisis. Fiscal prudence may suffer as many nations face elections this year.
Nepal PM Prachanda wins vote of confidence in Parliament
Nepal Prime Minister Pushpa Kamal Dahal 'Prachanda' has won a vote of confidence in Parliament, his fourth within 18 months of taking office. The vote came after the main Opposition Nepali Congress boycotted the voting process and chanted slogans against Deputy Prime Minister and Home Minister Rabi Lamichhane, accused of misappropriation of cooperative funds. The government required at least 138 votes to win the vote of trust.
Chinese ambassador promises 'friendship' and 'cooperation' as 2 Chinese warships dock in Cambodia
Chinese warships docked at Sihanoukville Port for joint naval exercises near Ream Naval Base. Concerns over China's presence in the South China Sea. Ambassador Wang Wentian emphasizes cooperation. Controversy over Golden Dragon exercises, responses from Hun Sen and Gen. Vong Pisen, and denials of foreign military bases in Cambodia.
Cannes 2024: India’s 1st crowdfunded movie ‘Manthan’ gets special screening, Naseeruddin Shah, Prateik Babbar grace red carpet
'Manthan' is India's first and only crowdfunded movie! Directed by auteur Shyam Benegal, the movie is a fictionalised account of the White Revolution, a movement that transformed India from a being a country with severely low milk supplies, to being the numero-uno in the dairy market. The movie starred the late versatile actress Smitha Patil in a pivotal role.
Chole Bhature, kadak chai, and gazab UPI: US Ambassador Eric Garcetti shares his amazing experience in India
"I never dreamed I'd have the honor and privilege of representing my country here in India, but what a year it's been," remarked Garcetti, expressing gratitude for the opportunity.
India breaks record with over $111 billion in remittances in 2022
India leads 2022 remittances with over USD 111 billion, facing challenges like rights violations in Gulf States and COVID-19 impact on migration patterns, highlighting migrant workers' struggles worldwide.
Bank liable for wrong done by its employees: SC orders bank to compensate man
Supreme Court holds District Cooperative Bank liable for employee actions, orders compensation of Rs 25,000 to a man after three decades. Bank failed to release fixed deposit receipts worth Rs 1,60,000 in Varanasi. Petitioner awarded refund with interest and damages by district consumer forum in 1997. Apex court overturns NCDRC's ruling, emphasizing bank's vicarious liability for employee conduct.
NSA underscores India’s policy to use digital technology for inclusive economic development
National Security Advisor Ajit Doval highlighted India's policy to leverage digital technology for inclusive economic development during an international security meet in St Petersburg, Russia. He emphasized the need for international cooperation to establish an open, stable, secure, reliable, and inclusive framework for information security. Doval reiterated India's commitment to collaborate with the international community to counter the misuse of information and communication technologies by terrorists and criminals. He proposed collaboration among governments, the private sector, academia, technical communities, and civil society to ensure information security.
India invites investors from IPEF nations to invest in $1 trillion clean economy opportunity
The 14-countries of the IPEF Thursday announced plans to provide $33 million in initial grant funding for the IPEF Catalytic Capital Fund for climate infrastructure projects. The fund is proposed under the Pillar III Clean Economy Agreement of the framework.
L&T Finance signs $125-million pact with JICA to aid farmers and women entrepreneurs
L&T Finance Holdings Ltd has signed pact with JICA and Asia Development Bank for $125 million to fund marginal farmers, women entrepreneurs, women borrowers, MSMEs, two-wheeler loans, and provide formal access to credit in rural and semi-urban India, supporting the Indian economy and addressing poverty reduction.
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