The Andhra Pradesh government has started a trial seaplane service between Srisailam and Vijayawada, aiming to boost tourism and improve accessibility. The 45-minute flight connects key attractions like the Srisailam temple and Tiger Reserve. If successful, the service could be extended to other remote areas, with plans for more water aerodromes.
Foreign Portfolio Investors (FPIs) sold equities worth ₹19,994 crore in the first five trading days of November, raising concerns about market stability. This follows a record ₹1,13,858 crore of selling in October. Even with these outflows, FPIs are still active in India's primary market, investing ₹19,842 crore in IPOs. Experts expect more volatility, though some sectors like financials remain strong.
The Bombay High Court overturned a 20-year-old conviction against a man and his family for alleged cruelty towards his late wife. The court ruled that actions like taunting, limiting TV access, and making her sleep on a carpet did not meet the legal definition of cruelty under IPC Section 498A. The family members were acquitted of charges related to cruelty and abetment to suicide.
Chana prices have fallen after imports from Australia started arriving and sowing season began. Australian chana has flooded the market, causing prices to drop by more than 10% since early September. With a good crop expected and continued imports from Australia and Africa, prices are now around ₹7,200 in major markets like Delhi and Mumbai. Although sowing is delayed, more imports are expected, which will likely keep prices under pressure.
Elon Musk has backed India's decision to allocate spectrum for satellite broadband instead of auctioning it. This move, supported by Communications Minister Jyotiraditya Scindia, aligns with global standards and could make it easier for Starlink to enter India. The shift in policy challenges Indian telecom giants like Jio and Airtel, who prefer auctions and see satellite broadband as key to expanding digital access.
Tata Consultancy Services (TCS) has cut variable pay for many employees for the July-September quarter, with some getting as little as 20-40% or no payout at all. The company says this is due to weak demand and business performance. The adjusted pay is based on attendance and business unit results, reflecting the ongoing uncertainty in the tech industry. TCS expects a recovery in the fourth quarter, despite the tough second quarter.
Bollywood actor Salman Khan has received a new threat from someone claiming to be part of the Lawrence Bishnoi gang. The message demanded a Rs 5 crore ransom and included a death threat aimed at the lyricist of his upcoming film song, 'Main Sikandar Hoon'. The Mumbai Police have launched an investigation and traced the threat to Karnataka, where it was linked to previous threats from the Bishnoi gang.
The Australian curriculum will soon be launched in India, with a pilot program starting in 10 schools by the next academic year. The goal is to test how well the curriculum works in India, starting with a school in Punjab. It covers subjects like English, math, science, and the arts, with assessments split between school-based evaluations and external exams.
State Bank of India (SBI) reported a 28% increase in net profit to Rs 18,331 crore for Q2 FY25, compared to Rs 14,330 crore in the same period last year. Interest income grew by 12.32%, and net interest income rose by 5.37%. The bank's asset quality improved, with a reduction in both gross and net non-performing assets. SBI also saw strong growth in total deposits and advances.
India's food services market is smaller than the U.S. and China's, but it's growing fast. In 2023, it was worth about $70 billion, and online food delivery is expected to grow from $8 billion to $17-21 billion by 2028. While the U.S. and China have established markets, India's sector is expanding quickly, especially the organised part.