Association of Mutual Funds in India (AMFI) said Navneet Munot, MD and CEO of HDFC Asset Management, has been elected as the chairman of the industry body.
In addition to AMFI chairman, the board of the industry body also elected Anthony Heredia, MD and CEO of Mahindra Manulife Mutual Fund as its vice-chairman.
The Reserve Bank of India has decided to extend the ‘prompt corrective action (PCA) framework for non-banking financial companies (NBFCs)‘ to government NBFCs (except those in base layer) with effect from October 1, 2024.
This will be based on the audited financials of these NBFCs as on March 31, 2024, or thereafter.
The International Monetary Fund (IMF) raised its FY24 growth projection for India by 20 basis points to 6.3 per cent, citing stronger than expected consumption between April and June. The IMF’s latest World Economic Outlook (WEO) kept its global growth forecast unchanged at 3 per cent for 2023 and pared down the 2024 projection by 10 basis points to 2.9 per cent.
The IMF’s inflation projection for India has been revised upward to 5.5 per cent for FY24. It expects the inflation rate to remain in the range 2-6 per cent this financial year, and 4.6 per cent next year. In its July WEO, the IMF had projected a growth rate of 6.1 per cent for India in FY24, a 0.2 percentage point upward revision as against the April projection.
India and Italy inked an agreement to expand their defence ties including for co-development and co-production of military platforms following wide-ranging talks between Defence Minister Rajnath Singh and his Italian counterpart Guido Crosetto in Rome.
It said Singh suggested fostering the interaction of the Indian start-ups with the Italian defence companies.
The signing of the pact is seen as a major initiative to expand the defence cooperation that came nearly 2 yrs after the defence ministry lifted the ban on AgustaWestland & its parent company Leonardo SpA.
Leonardo SpA, which was earlier known as Finmeccanica, & AgustaWestland were banned in 2014 in the wake of allegations of corruption in a Rs 3,500-crore VVIP helicopters.
Indian Ambassador to Italy : Neena Malhotra.
The Competition Commission of India (CCI) will be hosting the 8th BRICS International Competition Conference (BRICS ICC) 2023, themed ‘New Issues in Competition Law and Policy – Dimensions, Perspectives, Challenges’.
The Conference, being held in New Delhi from 11th-13th October, would witness participation of more than 600 delegates.
Smt. Ravneet Kaur, Chairperson, CCI.
H.E. Dr. Samia Suluhu Hassan, the 1st woman President of Tanzania, was conferred an Honorary Doctorate (Honoris Causa) by Jawaharlal Nehru University for her pivotal role in fostering stronger India-Tanzania relations, promoting economic diplomacy, and achieving success in regional integration and multilateralism.
International Girl Child Day is observed annually on October 11.
The day aims to focus on the importance of girls' education, their rights, and promoting gender equality.
The theme of International Day of the Girl 2023 is "Invest in Girls' Rights: Our Leadership, Our Well-being".
The International Day of the Girl Child was first celebrated in 2012.
The RBI directed Bank of Baroda to stop onboarding new customers on its mobile application, Bob World.
"This action is based on certain material supervisory concerns observed in the manner of onboarding their customers onto this mobile application,".
It would not have a material impact on the overall business and growth plans.
The first-ever defence tech show in the Northeast took place in Guwahati. From cutting-edge technology to top-end gear, nearly 200 manufacturers have put up their stalls at the two-day 'East Tech', inaugurated by Assam Industries and Commerce Minister Bimal Borah and General Officer Commanding-in-Chief of Eastern Command Lt Gen Rana Pratap Kalita.
Reliance Industries chairman Mukesh Ambani overtook Adani Group’s Gautam Adani to become the richest Indian in the rankings of the 360 ONE Wealth Hurun India Rich List 2023.
Ambani’s wealth grew marginally by 2 per cent to Rs 8.08 lakh crore. However, his counterpart, Gautam Adani’s fortune fell by 57 per cent to Rs 4.74 lakh crore.
At the International Council of Archives Congress 2023 in Abu Dhabi, representatives from India and the United Arab Emirates came together in a significant move to strengthen their collaboration in preserving their shared archival heritage.
Director General - Arun Singhal of the National Archives of India
To reduce the risk of identity theft and unauthorised access, Axis Bank and fintech firm Fibe have launched India's first numberless credit card. The card will not display any card number, expiry date, or CVV number. These details will be available on the Fibe app.
The Fibe Axis Bank Credit Card is powered by RuPay and allows customers to link their credit card to the UPI.