Capital India Finance Limited, a leading non-banking financial company, has marked a significant milestone by listing its equity shares on the National Stock Exchange of India, effective from 17 April 2025. This strategic development reflects the company’s commitment to enhancing long-term shareholder value and increasing accessibility for a wider investor base.
Previously, Capital India Finance Limited shares were available only on the Bombay Stock Exchange. Now, they can also be traded on the National Stock Exchange under the same ticker symbol, CIFL. This dual listing is expected to provide broader visibility among a larger investor base and improve market participation.
Capital India Corp Private Limited holds 72.95 percent of CIFL’s equity. The company is a core investment entity registered with the Reserve Bank of India and is promoted by Mr Sumit K Narvar. Mr Narvar is a first-generation entrepreneur who has mentored and built businesses in the fintech and financial services sectors,
CIFL also benefits from strategic investments by prominent groups, including Dharampal Satyapal Group, RJ Corp Group, DLF Group, and Sudhir Power Limited. For the nine months ending 31 December 2024, CIFL reported a consolidated total income of INR 482.26 crore. For the financial year 2023-24, the company recorded a consolidated total income of INR 692.51 crore.
The Reserve Bank of India said it has cancelled the licence of Jalandhar-based Imperial Urban Co-operative Bank as the lender does not have adequate capital and earning prospects. The Registrar of Cooperative Societies, Government of Punjab has also been requested to issue an order for winding up of the bank and appoint a liquidator for the bank.
On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).
As per the data submitted by the bank, RBI said 97.79 percent of the depositors are entitled to receive the full amount of their deposits from DICGC.
As on January 31, 2025 DICGC has already paid Rs 5.41 crore of the total insured deposits.
Giving reasons for cancellation of the licence of Imperial Urban Co-operative Bank, the RBI said the continuance of the bank is prejudicial to the interests of its depositors.
In line with the announcement in the Budget Speech 2025-26 by the Union Minister for Finance and Corporate Affairs, on facilitating upgradation of infrastructure and warehousing for air cargo including high value perishable horticulture produce and streamlining the cargo screening and customs protocols and making it user-friendly,
the Central Board of Indirect Taxes and Customs (CBIC) has introduced several trade facilitative measures in Air cargo in particular and transhipment movement in general.
World Malaria Day is observed globally on 25th April each year, following its institution by the World Health Organisation’s (WHO) member states during the 2007 World Health Assembly. The theme for 2025, “Malaria Ends With Us: Reinvest, Reimagine, Reignite,” calls for renewed global commitment to end malaria through innovation, collaboration, and sustained action.
A defining milestone came in 2024, when India exited the WHO’s High Burden to High Impact (HBHI) group— signalling a paradigm shift in the country’s malaria trajectory.
The World Audio Visual & Entertainment Summit (WAVES), to be held from 1st to 4th May in Mumbai, is poised to become one of the landmarks in the Media and Entertainment sector. The summit will promote India as one stop destination for content creation, Investment destination and leverage ‘Create in India’ opportunities as well as for global outreach.
For the first ever WAVES Bazaar, a total 100 films from 8 countries namely India, Sri Lanka, USA, Switzerland, Bulgaria, Germany, Mauritius and UAE will be available to watch in the Viewing Room Library. The overall lineup includes 18 titles of NFDC produced and co-produced films and adds 8 restored classics from the National Film Archive of India (NFAI).
It also includes 19 student projects from Film & Television Institute of India (FTII, Pune) and Satyajit Ray Film & Television Institute (SRFTI, Kolkata).
These 15 Projects selected for the WAVES Bazaar Top Selects Section from the Viewing Room includes 9 Feature projects, 2 documentaries, 2 Short films and 2 Web-Series which will pitch their films to producers,
sales agents, distributors, festival programmers and potential investors in an open pitching session during WAVES Bazaar at the Jio World Centre, Mumbai on 2nd May, 2025.
Simplification of Transfer Claim Process through Revamped Form 13 functionality
To ensure ease of living for its members, EPFO during January this year, has greatly simplified the process for transfer of PF account on change of jobs by removing the requirement of approval from employer in majority of the cases.
Till now, the transfer of PF accumulations used to happen with the involvement of two EPF Offices. One, from which the PF accumulation is transferred (Source Office) and two, the EPF Office in which the transfer is actually credited (Destination Office).
Now, with an aim to further simplify the process, EPFO has removed the requirement of approval of all transfer claims at the Destination Office by launching a Revamped Form 13 software functionality.
Henceforth, once the transfer claim gets approved at the Transferor (Source) Office the previous account will automatically get transferred,
to the present account of the member at the Transferee (Destination) Office instantly furthering the aim of “Ease of Living” for Members of EPFO.
This revamped functionality also provides the bifurcation of taxable and non-taxable components of PF accumulations to facilitate accurate calculation of TDS on Taxable PF interest.
It is expected to benefit more than 1.25 Crore Members facilitating the transfer of around Rs. 90,000 Crores every year henceforth as the entire transfer process shall be speeded up.
The Council of Scientific and Industrial Research (CSIR), through its premier minerals research institute CSIR-IMMT, has signed two Joint Declarations of Intent (JDIs) with leading Russian institutions—the State Research and Design Institute of the Rare Metal Industry (JSC Giredmet), a premier research and design institute under the Russian State Atomic Energy Corporation,
Moscow and the National University of Science and Technology MISIS, Moscow (NUST MISIS)—to strengthen cooperation in critical mineral processing and sustainable resource development.
Axis Bank announced that Rajiv Anand will retire as the Deputy Managing Director at the close of business hours on August 3, 2025 upon completion of his third term as a Director on the Bank’s Board.
Rajiv has been instrumental in transforming the Corporate Bank and contributed to building our retail franchise in its formative years.
The Board and the management team places on record their appreciation for his contributions to the Bank over the years and wishes him very best in his future endeavours," said the bank in the official statement.
The Reserve Bank of India (RBI) said it has imposed penalties on Indian Bank and Mahindra & Mahindra Financial Services for certain deficiencies in regulatory compliance. A penalty of Rs 1.61 crore has been imposed on Indian Bank for contravention of certain provisions of Banking Regulation Act and non-compliance with some directions on 'Interest Rate on Advances',
Kisan Credit Card (KCC) Scheme' and 'Lending to Micro, Small and Medium Enterprises (MSME) Sector'.
In another release, the RBI slapped a fine of Rs 71.30 lakh on Mahindra & Mahindra Financial Services Limited for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company,
(Reserve Bank) Directions, 2016' and Know Your Customer Directions.
In both cases, the central bank said penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the entities with their customers.
Shriram Finance Ltd. said that the board has approved the plan to enter the payments business by offering mobile wallets and prepaid cards as the shadow lender seeks to diversify its offerings and boost earnings.
"Approved the proposal to offer payment services through Mobile Wallets, Prepaid Cards (Food Card, Gift Card), FASTag, etc.
providing a secure, convenient and efficient alternative to cash transactions for our customers," said the company statement.
The lender will need the Reserve Bank of India’s approval before adding customers for the new product.
Following approval from the central bank, the company will be in direct competition Paytm, Walmart’s PhonePe, and Bajaj Finance Ltd.
Arul Chakravarthi- MD & CEO, Shriram Finance.
In order to raise awareness of the role of the representatives and delegates of the Member States to the United Nations, the UN General Assembly has proclaimed 25 April as International Delegate’s Day.
With the adoption of resolution 73/286, the General Assembly recognizes the crucial role of the delegates in fulfilling the main goals of the United Nations.
International Delegate’s Day marks the anniversary of the first day of the San Francisco Conference, also known as the United Nations Conference on International Organization. On 25 April 1945, delegates from fifty countries came together for the first time in San Francisco.
Former ISRO chief, Dr K Kasturirangan, the man behind India's maiden mission to the moon, Chandrayaan-1, died in Bengaluru at 84.
As the head of ISRO, Dr Kasturirangan conceived India's maiden outing outside Earth orbit. It was under his leadership that Chandrayaan-1, then named Somayaan, was born.
