APPROVES
Mumbai airport slot row: AOC questions ministry approval to deny slots to 12 international airlines
Airline Operators Committee has raised concerns regarding the slot allocation for twelve international carriers. The carriers have not received their requested slots for the summer 2027 season. Mumbai International Airport is planning to temporarily relocate operations to Navi Mumbai International Airport. This move is due to the redevelopment of Terminal 1. Clarity on the approval from the civil aviation ministry is being sought by the committee.
Govt working on telecom PLI with focus on higher local value addition
The Ministry of Communications is preparing to propose a second edition of the telecom production-linked incentive scheme. This new scheme will emphasize design-led higher value addition in the telecom sector. The first edition of the telecom PLI scheme attracted significant investments and involved approvals from numerous companies. Additionally, incentives under design-led manufacturing have been applied for by several firms. The proposal will undergo inter-ministerial consultation before seeking Union Cabinet approval.
RBI approves Balaji Nuthalapadi as interim CEO of Equitas SFB
Balaji Nuthalapadi is appointed as the interim chief executive officer at Equitas Small Finance Bank. He will serve a period of three months starting from November 6. This appointment follows the immediate relief of outgoing CEO PN Vasudevan, who requested his departure. The bank board accepted his request and made the appointment swiftly. This transition reflects a significant change in the bank's leadership structure.
MobiKwik shares jump 4% as RBI approves NBFC licence; co targets Rs 5,000 crore loans
MobiKwik shares gained on Friday after the RBI granted its subsidiary a licence to operate as an NBFC, enabling the fintech company to enter direct lending. MobiKwik plans to disburse Rs 5,000 crore in loans over the next three to four years, targeting consumers and MSMEs through secured and unsecured products.
Ashwini Vaishnaw launches Semicon 2.0 portal, says 50% of units approved under ECMS are SMES, MSMEs
Union Electronics and Information Technology Minister Ashwini Vaishnaw has launched the Semicon 2.0 Web Application Portal. The initiative aims to strengthen India's semiconductor manufacturing ecosystem while enabling the acceptance of applications under specific pillars. Fifty percent of the approved units under the Electronics Components Manufacturing Scheme belong to SMEs or MSMEs. India is progressing from assembly to the manufacturing of critical electronic components and materials.
Scripbox shareholders approve conversion into public company ahead of IPO
At an extraordinary general meeting on October 19, shareholders approved the change of the Accel-backed startup's name from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited, along with amendments to its constitutional documents, according to regulatory filings reviewed by ET.
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Centre planning to use component scheme to feed chip ecosystem
Investment approvals under ECMS may therefore focus on items like precision-manufacturing equipment such as micro-tools, computer numerical control machines, PCB drills and industrial automation equipment, officials said. The sixth tranche of ECMS investment applications will be announced on Friday.
Nvidia chips pile up in Hong Kong as China withholds import approval
About 600,000 of Nvidia's advanced artificial intelligence chips are stored in Hong Kong awaiting shipment to mainland China, two people familiar with the matter said, as Beijing withholds approval for large-scale imports despite demand from technology firms.
Dr Reddy's Laboratories receives ANVISA approval for generic semaglutide injection in Brazil
Dr Reddy’s Laboratories obtained marketing authorisation from Brazil’s ANVISA for a generic semaglutide injection. The product will be available as a pre-filled, multi-dose pen in two dosages for weekly administration. This drug targets treatment for type 2 diabetes alongside diet and exercise, particularly in patient groups needing alternative therapies. Brazil's diabetes prevalence creates significant market demand, estimated at approximately $244.6 million.
Australia data centre inquiry finds inadequate checks, stops short of moratorium
An inquiry into data centres by Australia's most populous state found approvals failed to consider the cumulative effect on resources and infrastructure but stopped short of calling for a moratorium, prompting a blistering rebuke from its chair.
Sebi approves Coal India unit Mahanadi Coalfields IPO
Coal India's Mahanadi Coalfields has just secured approval for an upcoming IPO, set to launch soon. This offering will potentially sell 661.8 million shares, which is equivalent to a 10% equity stake. As a vital player in India’s coal sector, the IPO anticipates raising $1 billion, thus valuing the unit at a remarkable $10 billion. The market's appetite for significant IPOs continues to grow, reflecting a dynamic investment landscape.
Cabinet approves VGF plan for grid-scale energy storage with Rs 14,500 crore support
The Union Cabinet has approved a significant ₹14,500 crore funding scheme to develop 92 GWh of energy storage capacity. This initiative supports both hydro pumped storage and battery energy storage systems aimed at accelerating renewable energy. Additionally, a scheme has been approved for processing critical minerals like lithium and nickel to reduce import dependency. The government aims to modernize its statistical system with a ₹4,371.10 crore scheme.
'Until it becomes perfect, many things have to be changed, evaluated': Former Lt Gen DP Pandey hails Cabinet's Agnipath extension
Responding to queries regarding the government's decision to introduce a 'Second Tour of Duty' and expand regular enrolment pathways, Lt Gen Pandey pointed out that iterative reviews are essential for perfecting any newly introduced recruitment model.
Ballot questions 2026 results: From Marijuana, abortion rights, transgender athletes, to voter ID -- all polls verdicts are out
Massachusetts ballot questions 2026 results are out and voters have rejected midterm elections attempt to repeal the legalization of Marijuana.
Cabinet approves ₹2,814-crore scheme to promote critical mineral processing
The Union Cabinet has approved a ₹2,814-crore capital expenditure support scheme to promote critical mineral processing and strengthen India’s critical mineral ecosystem. The scheme will be implemented over five years, from FY 2026-27 to FY 2030-31.
Cabinet approves ₹14,500-crore scheme to add 92 GWh energy storage capacity
The Union Cabinet has approved a significant ₹14,500-crore scheme aimed at developing new energy storage capacity. This funding will support the establishment of 92 GWh of grid-scale energy storage across India. Additionally, 850 fast-track courts will be set up to expedite cases involving child abuse and rape. The government has also created a pathway for the enrollment of 25% of Agniveers in the armed forces.
CCI clears KKR's Rs 6,000 crore investment in PETRONAS-backed Gentari Renewables
Global investment firm KKR has received approval from India's Competition Commission to invest in Gentari Renewables India. This clean energy platform is part of Malaysia's PETRONAS group, which focuses on renewable energy projects. KKR plans to invest approximately Rs 6,000 crore in the Indian renewable energy sector. The firm already holds investments in various Indian clean energy companies.
US Midterm Elections 2026: Trump approval plunges to 38% as polls begin to close, CBS exit poll shows
US President Donald Trump’s approval rating stood at 38%, the lowest for an incumbent president during a midterm election, according to a CBS News exit poll. Around three-quarters of voters were dissatisfied with the direction of the country, while more Americans viewed the economy negatively than two years ago. Most also believed the US was wrong to take military action in Iran.
Greenland approves security deal with Denmark and US following months of Trump's pressure
Greenlandic lawmakers voted 16-0 to approve a security agreement with Denmark and the United States. This deal aims to strengthen military presence in the Arctic while keeping Greenland under Danish control. Although some residents express concerns about its implications for Greenlanders, they hope to curb American threats. The agreement will take effect after Danish parliamentary processes are completed later this month.
Equitas Small Finance Bank names Balaji Nuthalapadi interim CEO following PN Vasudevan's resignation
Equitas Small Finance Bank has appointed Balaji Nuthalapadi as the interim chief executive officer. This decision comes after the resignation of PN Vasudevan last week. The appointment awaits approval from the Reserve Bank of India before finalization.
Assam Cabinet approves key amendments to Assam Services (Discipline & Appeal) Rules including polygamy dismissal
The Assam Cabinet has approved an amendment to dismiss government employees engaging in polygamy and prohibit future employment. An investigation by the CBI will focus on the causes of severe floods in Sivasagar and Charaideo districts. Additionally, the Cabinet has endorsed financial support for farmers, increasing the Minimum Support Price to 2,640 per quintal.
Polymarket unit gets US industry organization's approval to be futures broker
Polymarket has received approval from the National Futures Association for PM Derivatives LLC to act as a broker. This approval allows the company to expand its operations if it obtains further approval from the Commodity Futures Trading Commission. The firm is actively under investigation by the CFTC regarding its marketing practices. Currently, Polymarket serves as a popular platform for betting on various events and elections.
CCI approves Kotak Mahindra Bank's acquisition of Deutsche Bank's India retail banking business
Kotak Mahindra Bank Limited has received approval from the Competition Commission of India for its acquisition. This acquisition involves Deutsche Bank AG's retail, private banking, and wealth management businesses in India. The deal includes significant assets like loans and deposits, benefiting around 150,000 customers. Additionally, a referral arrangement will be established between both banks through their affiliates.
Logistics links, shipping services emerge as key drivers for India's maritime growth: Report
India’s next phase of maritime growth will depend on improving logistics, inland connectivity and shipping services rather than simply expanding port capacity, according to a Ficci-Kearney report. Cargo handled at major and non-major ports rose 38% between FY18 and FY26, outpacing the 22% increase in capacity, while delays in moving goods after export approval account for 84% of measured export time.
US midterm elections: Trump approval stuck near record low as voters lean towards Democrats, poll shows
US President Donald Trump's approval rating remains low as voters indicate their intention to oppose him in upcoming elections. Polls show that 46% of voters prefer Democrats compared to 38% for Republicans. Many voters identify rising living costs as a significant issue influencing their decisions. Democratic voters express greater enthusiasm about voting compared to their Republican counterparts. The general election outcomes are expected to reflect these sentiments among the electorate.
Centre approves Rs 989 crore for 39 road projects in Keralam
The Centre has approved Rs 988.75 crore for 39 road development projects in Keralam that will begin in December. The funding will support the development of 486.33 km of roads across various districts. Rs 570 crore is specifically allocated for road projects in the Malabar region. The projects include major and ordinary district roads, as well as Corporation roads.
US approves $2.1 billion sale of Patriot air defence missiles to Ukraine after alleged holdup
The Trump administration has approved a $2.1 billion sale of Patriot air defense missiles to Ukraine. Ukraine relied on donations from Canada, Germany, and Norway under a US program for this purchase. Ukrainian President Volodymyr Zelenskyy had earlier accused the Pentagon of delaying missile deliveries essential for defense. Additionally, he mentioned interruptions in US intelligence regarding Russian attacks and the Starlink internet service.
CCI approves Adani acquisition of Intellismart
Adani Energy Solutions has received approval to acquire IntelliSmart Infrastructure, establishing a major presence in smart meters. This acquisition will help expand the Adani Group's operations in digital grid modernization efforts. The Competition Commission of India also approved other significant acquisitions in various sectors, highlighting ongoing consolidation in the market. Notable approvals include investments in telecom and quick-service restaurants, enhancing industry efficiency.
Air India gets DGCA approval for flying academy in Maharashtra
Air India has received DGCA approval to establish a flying academy at Belora Airport in Amravati. The academy will house a fleet of 31 single-engine and three twin-engine aircraft for pilot training. Spanning across 10 acres, the facility will include digitally enabled classrooms and maintenance areas to ensure safety. Additionally, this academy complements a similar investment in Gurugram, enhancing aviation infrastructure.
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