The 'Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities' commenced at the India Habitat Centre, New Delhi. The summit, designed to foster collaboration and innovation in critical minerals beneficiation and processing, was inaugurated under the patronage of the Ministry of Mine.
On the sidelines of the summit, a Memorandum of Understanding (MoU) was signed between the Ministry of Mines and Shakti Sustainable Energy Foundation. This MoU initiates a partnership between Ministry of Mines, Shakti Sustainable Energy Foundation, Council on Energy, Environment and Water (CEEW) and TERI.
This partnership will focus on providing knowledge support in the field of Critical Minerals which are crucial for India’s economic development, national security, and low-carbon energy transition.
IndiGo appoints Isidro Pablo Porqueras Orea as Chief of Transformation. Orea has 25 years of professional experience in different functional areas such as operations, commercial, strategy and finance. He was with European airline Volotea from 2016-2023 and served as their COO for the last 5 years. Currently, Wolfgang Prock-Schauer is the COO of India’s largest airline.
Global alternative firm Investcorp, today announced that it has entered into an agreement to acquire NSEIT, the digital technology business of the National Stock Exchange for a total consideration of Rs 1,000 crore. The transaction excludes the digital examinations business that is also housed inside NSEIT. This is one of the largest deals for Investcorp in India.
NSEIT is a leading provider of advanced digital transformation and cybersecurity services focused on global customers in capital markets, insurance, and banking. NSEIT has a strong presence in India, North America, and the Middle East. The company’s offerings include digital engineering, data and analytics, artificial intelligence, cloud services, and cybersecurity services
The Reserve Bank of India (RBI) on Monday cancelled the licence of Acemoney (India), a Delhi-based non-banking financial company (NBFC), citing irregular lending practices.
The banking regulator, which issued a Certificate of Registration (CoR) to the company in 2017, said the cancellation was based on account of violation of RBI guidelines.
The Reserve Bank of India released a draft Master Direction for Electronic Trading Platforms (ETPs) and also invited comments and feedback from operators, banks, market participants, and other interested parties by May 31. The aim is to facilitate market makers' access to offshore ETPs offering permitted Indian Rupee (INR) products.
In October 2018, RBI had introduced a framework for the authorisation of Electronic Trading Platforms to facilitate transactions in financial market instruments under its regulation. ETPs, distinct from recognised stock exchanges, are electronic systems enabling the trading of eligible instruments such as securities, money market instruments, foreign exchange instrument etc
Indian Renewable Energy Development Agency (IREDA) said it was granted ‘Navratna’ status by the Department of Public Enterprises. A non-banking financial institution under the Ministry of New and Renewable Energy, IREDA is engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy.
The Indian government grants Navratna status to premier PSUs, empowering them to execute significant investments of up to ₹1,000 crore without requiring approval from the central authority. These firms are permitted to allocate up to 30 per cent of their net worth annually, provided it remains under ₹1,000 crore.
Additionally, they have the option to participate in joint ventures, forge partnerships, and set up overseas subsidiaries. To qualify for Navratna status, a company must first attain the Miniratna category-I designation and be included in Schedule A of Central Public Sector Enterprises (CPSEs).
Established in March 1987, the company offers financial assistance to projects that produce electricity using fresh and sustainable sources. The government holds a 75 per cent ownership stake in the company.
The Indian economy is expected to achieve “higher” than 7% growth in 2024-25, the National Council of Applied Economic Research (NCAER) said pointing at strong high-frequency indicators, an above normal monsoon forecast and a benign global outlook. The think tank’s outlook is a bit more optimistic than the 7% real gross domestic product (GDP) growth projected by RBI.
India’s Velavan Senthilkumar won his eighth Professional Squash Association Tour title by winning the Batch Open, a PSA Challenger event, at the Societe Sportive du Jeu de Paume in Paris. World No. 58 Senthilkumar, the top seed, beat Frenchman Melvil Scianimanico 11-6, 11-9, 11-6 to clinch the title. The final was held as part of the 12,000 dollars PSA Challenger Tour event
Indian Navy’s indigenous stealth frigate, INS Sahyadri participated in the Maritime Partnership Exercise with Royal Navy’s RFA Argus and RFA Lyme Bay, part of the UK Littoral Response Group South, the Indian Navy said. It is aimed to enhance interoperability and strengthen maritime cooperation between the two nations.
Exercise Highlights include Tactical manoeuvres, Boarding operations, Surface engagement against simulated asymmetric threats, Cross-deck visits, and Cross-deck helicopter operations. This exercise demonstrates the Indian Navy’s commitment to strengthening maritime partnerships and promoting regional stability.
To facilitate ease of doing business, markets regulator Sebi allowed AIFs (alternative investment funds) to pledge their shares in investee companies in the infrastructure sector.
The regulator has also provided additional flexibility to AIFs and their investors to deal with unliquidated investments of their schemes.
The move will provide ease of doing business and flexibility to such AIFs. Sebi said that existing schemes of category I and category II AIFs who have not on-boarded any investors prior to April 25, 2024, may create an encumbrance on the equity of the investee company for the purpose of borrowing of the investee company.
Also, Sebi said that foreign-invested AIFs must comply with RBI regulations. In case of borrower default, AIFs are not liable beyond the encumbered equity. However, AIFs cannot offer guarantees for investee companies.
Moreover, AIFs have been prohibited from creating encumbrances on their investments in foreign investee companies.
International Jazz Day is celebrated every year on 30 April. This day is dedicated to the city of Tangier, Morocco, and the cultural heritage of jazz in Africa. The history of International Jazz Day dates back to November 2011, when the UNESCO General Conference proclaimed April 30 as International Jazz Day.