The Union Ministry of Finance will dilute a 6.78 per cent stake in public-sector reinsurance company General Insurance Corporation of India (GIC) Re to garner around Rs 4,700 crore.

The stake sale, for the first time since the listing of the reinsurance company in 2017 through the offer-for-sale (OFS) route, will begin on Wednesday for non-retail investors.

India will continue with five per cent tax on electric cars and 48 per cent tax on hybrid cars for a "long period of time", said its G20 Sherpa Amitabh Kant on Tuesday.

Major car makers such as Maruti Suzuki India and Toyota Kirloskar Motor have been asking for lowering of taxes on hybrid cars.

The Joint Action Committee (JAC) of Telangana Employees, Gazetted Officers, Teachers, Workers, and Pensioners has pledged approximately Rs 130 crores to the Chief Minister's Relief Fund for flood relief. This amount is equivalent to one day's basic pay for all employees and pensioners.

Eluri Sreenivasa Rao, Secretary General of the Telangana Employees JAC, stated, "We are 6,50,000 people including employees, pensioners, and others. We receive Rs 2000 as basic pay for 1 day.

The collective wealth of the wealthiest people in India has surged past the $1 trillion mark, reaching a staggering $1.19 trillion (Rs 99.86 trillion), a report by Fortune India revealed on Monday.

The list features as many as 185 people with ‘dollar billionaire’ status, meaning they have wealth of at least $1 billion.

Chief Minister N Chandrababu Naidu has said the recent torrential rain and subsequent floods in Andhra Pradesh, particularly in Vijayawada, is the "biggest disaster" he has witnessed in the state in his political career.

Naidu on Monday also said he will request the central government to declare the flood in the state as a national calamity. At least 17 people have been killed in rain-related incidents and floods.

For individuals whose Aadhaar cards were issued more than 10 years ago and never updated later, it is recommended that they submit proof of identity and proof of address documents for revalidation. The Unique Identification Authority of India (UIDAI) has set September 14 as the final date for free Aadhaar detail updates. The deadline has been extended multiple times, with the latest extension announced on June 14 this year, pushing it forward by three months.

Besides the Congress, Securities and Exchange Board of India Chairperson Madhabi Puri Buch on Monday came under attack from Subhash Chandra, chairman emeritus, Zee Entertainment Enterprises — currently being probed by the markets regulator for alleged fund diversion of over Rs 2,000 crore from the media behemoth.

A senior Sebi official termed the allegations as “malicious and opportunist.” The Sebi chief did not reply to Chandra's allegations until the time of going to press.

SJVN, NHPC, and RailTel Corporation of India share prices gained up to 5.2 per cent in Monday's (September 2) intraday trade. The buying interest sparked after the Indian central government granted 'Navratna' status to the state-owned companies.

As of 9:32 AM, SJVN shares were up 3.3 per cent, NHPC stock 2.45 per cent, and RailTel Corporation 4.59 per cent.

Aam Aadmi Party MLA Amanatullah Khan on Monday claimed that the Enforcement Directorate officials have arrived at his house in Okhla in the national capital to arrest him. In a post on X, Khan said, "ED people have just arrived at my house to arrest me."

In a self-made video, the AAP MLA said that the investigative agency has been continuously harassing him for the past two years.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) Chief Asaduddin Owaisi criticised the Waqf (Amendment) Bill, 2024 and called for a nationwide protest on Monday in a protest gathering at Telangana.

In a protest meeting against the bill, the AIMIM chief said that the All India Muslim Personal Law Board has decided to launch a nationwide protest, "We have gathered here today on behalf of All India Muslim Personal Law Board because of the Waqf (Amendment) Bill, 2024 that has been brought by the Modi government."

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