The Securities and Exchange Board of India (Sebi) will run a pilot for the Asba-like facility for the secondary markets in December this year, Mint reported on Wednesday. Under the mechanism, money will be transferred only after the actual transfer of the security takes place. Till then, the funds will remain in the investor's bank account and earn interest.

In June, Sebi announced it would launch an Asba-like mechanism for secondary markets. Application Supported by Blocked Amount (Asba) facility is already available for the primary market, which ensures that money from an investor gets moved only when an allotment happens.

Breaking its silence on the ongoing Israel-Hamas war, Chinese Foreign Ministry spokesperson Mao Ning on Tuesday said Beijing hoped that the issue would be resolved in a "just and lasting manner" on the basis of the "two-state solution."

Addressing a press briefing in the Chinese capital, Beijing, on Tuesday, Mao said, "We sincerely hope that the Palestinian question will be resolved in a comprehensive, just and lasting manner on the basis of the two-state solution. On the escalation of the Palestinian-Israeli conflict, our position is highly consistent with that of the Arab states."

Amidst reports of an imminent ground invasion of Gaza by Israel, President Joe Biden has said that Israel can make its own decisions, as the US firmly backs its ally while urging caution.

The latest conflict was triggered by unprecedented attacks against Israel by Hamas militants on October 7, killing more than 1,400 people. Israel has launched a massive counter-offensive against the Islamic militant group that has ruled Gaza since 2007.

In his Vijayadashami address on Tuesday, Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat said the Manipur violence was orchestrated and blamed “outside forces” for the situation in the northeastern state.

In the address delivered at the RSS headquarters at Nagpur’s Reshimbagh, his last before the 2024 Lok Sabha polls, Bhagwat cautioned RSS workers not to get provoked as political discourse could get increasingly intemperate in the run-up to the elections.

India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $ 7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI.

After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year.

Vedanta Ltd. has picked the chief financial officer of edtech titan Byju’s to replace the current finance head, who is said to have quit after a few months in the job, ahead of an ambitious restructuring at Anil Agarwal’s mining conglomerate, according to people familiar with the matter.

Ajay Goel will be returning to Vedanta, which he had quit in April, in time to help with splitting the metals firm into six listed companies, they said, asking not to be named as the information is not public.

The much-awaited IPO in the Indian Consumer segment - Honasa Consumer of Mamaearth fame is likely hit Dalal Street by the end of October 2023. Other than Mamaearth, Honasa Cosumer owns prominent D2C brands like - The Derma Co and BBLunt brought from Godrej Consumer Products for Rs 134 crore in February 2022.

Honasa Consumer is a digital-first house of brands which caters to products in beauty and personal care.

Continuing with its strategy to field its Lok Sabha members for the forthcoming Assembly polls, the Bharatiya Janata Party (BJP) on Sunday released its first list of 52 candidates for the 119-member Telangana Assembly elections, including three of its four Lok Sabha MPs. Telangana's 31.73 million electorate will vote on 30 November.

The BJP's Huzurabad legislator, former Bharat Rashtra Samithi minister Etela Rajender, will contest against Chief Minister K Chandrasekhar Rao from the Gajwel seat. Rajender will also contest from his sitting Huzurabad seat. Rao comfortably won the Gajwel seat in 2014 and 2018.

Ashok Vaswani, a banker with more than three-and-half decades experience in building and scaling up businesses across consumer and corporate banking and payments, will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank.

Last week, the Reserve Bank of India (RBI) had given its approval to Vaswani’s appointment. Vaswani is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.

Public sector lender Central Bank of India has classified its loans to Go First, the troubled airline, as non-performing assets (NPA) in the second quarter ended September 2023 (Q2FY24). The no-frills carrier has been under insolvency proceedings since May 2023. It stopped operating flights from May 3, 2023.

The public sector lender's exposure, including government-guaranteed emergency credit to ailing airline, is about Rs 2,000 crore.

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