NETWORK FOR GREENING THE FINANCIAL SYSTEM
Interest subvention likely to push energy efficiency among MSMEs
The power ministry has begun discussions on offering interest subvention under the Assistance in Deploying Energy Efficient Technologies in Industries & Establishment (ADEETIE) Scheme for adoption of energy efficient technologies, people aware of the developement said.
Ganesh Green Bharat IPO opens today: Check issue size, price band, GMP and other details
Ganesh Green Bharat IPO will open for subscription, aiming to raise Rs 125 crore for solar and electrical projects. The company's diversified business model and strong financial performance make it a potential investment opportunity.
View: Indian banks know climate is their biggest threat
RBI’s financial stability report warns of climate change risks despite declining loan defaults. Concerns exist over exposure to energy and construction sectors. A 2023 framework mandates climate strategies by March 2028. Regulatory delays persist, with a 2021 task force and low foreign interest in green bonds. Efforts to attract global investors continue. Public sector banks are particularly vulnerable.
MSMEs are on sustainability path but profitability focus can make the move faster
MSMEs contribute a big part to India’s manufacturing output and hence, it becomes critical they adopt energy-efficient technologies to reduce operational costs.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
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JM Financial initiates coverage on MapmyIndia, sees upside potential of 28%
MapmyIndia, backed by JM Financial, aims for substantial revenue growth driven by new geospatial policies and diverse revenue streams.
Stocks in news: Inox Green, Titagarh Rail, India Cements, Dr Reddy's, Bharti Airtel
JSW Energy arm JSW Neo Energy signed power purchase agreements (PPAs) for wind and solar projects with a cumulative capacity of 1,325 MW.
Amazon & Google suspending green card applications: Why EB-5 visa a perfect fix for H-1B challenges and tech layoffs
The EB-5 visa program provides stability, job creation, and a streamlined immigration process, making it a reliable alternative for those facing uncertainties in the tech industry. With a direct path to green card status and economic growth opportunities, EB-5 offers a secure pathway to permanent residency.
Adani group firm Ambuja Cement bags 24 limestone mines in FY24
Ambuja Cements, a subsidiary of the Adani group, has won 24 bids for new limestone mines with a total resource of 587 million tonnes. The company aims to have a capacity of 140 million tonnes per annum by 2028, with sufficient cash to achieve this through brownfield expansion and acquisitions. The company recently acquired Hyderabad-based Penna Cement, adding 14 MTPA to its capacity to 89 MTPA.
Delhi metro station to have three interchanges as green line expands
New Delhi Metro station to become a triple interchange facility with Green Line expansion from Inderlok to Indraprastha, enhancing connectivity for commuters from Bahadurgarh and west Delhi.
REC to raise $500m through green bonds, concludes roadshow in London
The proceeds will be used to fund renewable energy projects. REC will use its internal system to monitor and allocate the green bond proceeds, as outlined in its green bond framework.
FY24 threw 12 multibagger stock ideas with consistent earnings growth. Which ones to chase?
FY24 featured 12 multibagger stocks with consistent earnings growth in sectors like autos, capital goods, PSUs, power, and infra sectors. Experts shared valuable insights for investors looking to capitalize on market opportunities.
Play the long term-game when you plan a career shift: Reset your career in 9 steps
Whatever your reason, the decision to switch careers is both daunting and rewarding. Here’s how you can make it successful.
Bonn climate talks: Countries leave much to do at COP29
Countries made little progress in finding common ground on the crucial issue of climate finance at the mid-year UN climate talks in Bonn, Germany, even as floods, extreme rains, and brutal heatwaves upended lives and livelihoods in several nations.
India’s climate dilemma will hang over Modi’s next five years
Modi, who has cast himself as climate champion for much of the past decade, will be under pressure to make faster progress toward existing green targets, including pledges to hit net zero by 2070, install a mammoth 500 gigawatts of non-fossil energy by the end of the decade, and corral a global alliance on solar power that aims to secure $1 trillion in investment.
Sterlite Power secures Rs 1,373 crore funding for Neemrana II Kotputli transmission project
Sterlite Power announced the successful funding of Rs 1,373 crore for its Neemrana II Kotputli Transmission Limited project from Power Finance Corporation. Sterlite Power aims to build a green energy corridor. Acquired in November 2023, the project will operate on a BOOT basis for 35 years. This initiative will interconnect the Neemrana and Kotputli substations and facilitate a LILO to integrate the Neemrana II substation with Gurugram and Sohna substations.
More cyber fraud cases getting detected in India due to enhanced vigil, says Amit Shah
Union Home Minister Amit Shah reported 27 lakh cyber fraud complaints in the past year, highlighting increased detection due to enhanced vigilance. He noted that 99.5% of police stations are now connected to the Crime and Criminal Tracking Network and Systems (CCTNS), aiding investigations and citizen services. The I4C tackles these rising cyber crimes.
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.
Ericsson mulls telecom equipment export from India in future; expects 5G use cases to emerge locally
Ericsson India Managing Director Nitin Bansal, at a company's event to showcase 5G technology, said the company is actively engaging with academia, partners, and ecosystem players to develop relevant India-specific use cases.
TCS signs deal with Kuwait’s Burgan Bank
Burgan Bank, one of the youngest commercial banks in Kuwait with a regional network of over 160 branches and 360 ATMs, will use TCS BaNCS suite solutions, which will enable the bank to manage higher transaction volumes, enhance automation, and improve staff productivity.
Forex settlement next step by GIFT to onshore what's offshore
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later
The rise of Finternet: an interconnected network of financial ecosystems
A new model proposed by Nandan Nilekani and Agustín Carstens envisages multiple financial ecosystems interconnected with each other. Multiple financial ecosystems interconnected with each other is called Finternet, the building blocks of which combine technological advances with sound governance. The framework proposes using technologies such as tokenisation and unified ledgers.
How to make every rupee count
The international aid squeeze has led to a reduction in official development assistance (ODA) to food systems, creating a financing gap of $350 billion per year. Multilateral development banks (MDBs) and international financial institutions (IFIs) play a crucial role in this context but need to improve impact assessment and reporting. The World Bank has shown leadership with its scorecard, but more needs to be done to quantify the cost of inaction.
Social network that needs connecting
India is planning a revamp of its urban transport sector to improve accessibility to work, healthcare, and education. The plan includes integrating metro and bus networks, promoting greening of intracity goods transport through small trucks, and aligning bus and metro routes. The lack of a holistic approach, with nearly half a dozen central ministries working in isolation, has led to discussions on an omnibus transport ministry.
Is Japanese Yen a canary in the coalmine? What it means for Bitcoin
The crisis facing the yen stems from a confluence of factors that have pushed the Bank of Japan into an economic policy corner. With a debt-to-GDP ratio of over 260%, among the highest in the world, Japan has been effectively locked into keeping interest rates at ultra-low levels, near zero, for years.
View: In today’s tech-driven landscape, we need new economic thinking on equity and sustainability
In a hyper-connected world, income inequality, debt burdens, and social disparities persist. Urgent innovative strategies are essential to address widening gaps and shift the focus to stakeholder value for human development, Sam Pitroda writes.
Stock investors have a new favourite on D-Street. It's not the Tatas, Adanis or Ambanis
The Goenka brothers-led companies surpassed Tata and Reliance in market capitalisation growth. Both Harsh Goenka and Sanjiv Goenka managed companies saw substantial market cap increments. They displayed remarkable financial performance in FY24.
Over 63% of women in India are seeking entrepreneurial avenues, shows PayNearby survey
Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, "The increasing adoption of newer services such as e-commerce, mutual funds, and fixed deposits signifies a promising trend in rural areas, where women are gearing up to engage in formal economic activities. We aim to empower women with greater autonomy over their savings, investments, and other crucial aspects," Bajaj added.
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