ORDINANCE
Delhi govt moves SC to withdraw 7 cases filed during AAP rule challenging L-G's authority
The Delhi government, now led by the BJP, has approached the Supreme Court to withdraw seven cases filed by the previous AAP administration. These cases challenged the authority of the Lieutenant Governor in various bodies, including those related to Yamuna cleaning efforts and solid waste management. The Supreme Court has scheduled a hearing for Friday to consider the withdrawal application.
CreditAccess expects recovery amid improving PAR performance
CreditAccess Grameen stock fell 9% in three sessions after Q4 showed rising slippages, higher credit cost, and weakening asset quality. Analysts cut FY27 earnings, but expect a rebound from H2FY26 as collection efficiency improves.
Three-day private bus strike from May 22 as talks between operators, Bengal govt inconclusive
Kolkata faces a potential transport crisis. Discussions between the West Bengal transport department and private bus operators reached a standstill. A three-day statewide bus strike is planned to start on May 22. The bus operators demand resolution of pending issues. These issues include extending the lifespan of older buses and addressing alleged police harassment.
IMF imposes 11 new conditions on Pakistan for its bailout programme, warns it against risks: Report
The IMF has imposed 11 new conditions on Pakistan for its bailout program, raising concerns about tensions with India impacting fiscal stability. These conditions include parliamentary approval of the budget, tax reforms, and energy sector adjustments. The IMF also requires Pakistan to phase out incentives for special technology zones and lift restrictions on used car imports.
DU to roll out uniform seniority policy for teachers to streamline promotions, appointments
Delhi University is poised to implement a uniform policy for determining the seniority of college teachers, pending final approval at the upcoming Executive Council meeting on May 23. This initiative aims to eliminate ambiguity in faculty appointments and internal governance.
Antonio Brown’s net worth as of 2025; firing shots to punch a hole?
Antonio Brown’s estimated net worth of $10 million to $15 million is under fresh scrutiny following reports of his involvement in a chaotic incident outside the BrandRisk influencer boxing event in Miami. The former NFL wide receiver, who once earned $17 million annually and signed a $68 million contract in 2019, now finds himself at the center of legal and financial questions after allegedly pulling a firearm and firing shots to disperse a crowd
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Around 100 graves belonging to Ahmadis desecrated in Pakistan
Around 100 Ahmadi graves were desecrated in Punjab, Pakistan. This brings the total to over 250 this year. The Tehreek-e-Labbaik Pakistan is suspected of the vandalism. The police have started an investigation. Ahmadi community members reported the incident. They accused the TLP of inciting violence. They also alleged police pressured them to demolish the graves themselves.
BluSmart fleet on the block, HCL-Foxconn semicon JV
Lenders and lessors are planning to sell EVs on the BluSmart fleet to recover their dues. This and more in today’s ETtech Morning Dispatch.
Karnataka eyes gig fund rollout by August end; labour dept engages platforms to fix fee
The Karnataka Platform-based Gig Workers (Social Security and Welfare) Bill 2024 has been sent by the government to Raj Bhavan with a request to issue an Ordinance. The rules will suggest differential rates of fee for services, such as ride hailing, food delivery and online retail.
Bangladesh bans Hasina-led Awami League under revised anti-terror law
Bangladesh has officially banned all activities of the Awami League party under a revised anti-terrorism law, as announced in a gazette notification. This action, taken by the interim government, prohibits the party's operations until the International Crimes Tribunal completes the trial of its leaders and activists.
"Whatever loss they suffered, it was their own responsibility": Air Marshal Bharti detail response to Pakistan aggression
Air Marshal AK Bharti detailed Operation Sindoor's success, which targeted terrorist infrastructure in Pakistan and PoK following the Pahalgam attack. Indian forces minimized damage, focusing solely on terrorist networks, but responded when the Pakistani military intervened. India's robust air defense system, bolstered by government funding, effectively countered Pakistani drones and UAVs, intercepting a Chinese-origin missile and other aerial threats.
Security beefed up along Odisha coastline, vital installations
Following Odisha CM's alert about potential sea threats amid India-Pakistan tensions, state police have heightened security along the coastline and around key installations. Increased vigilance includes patrolling, thorough checks of vessels and suspects, and armed deployments at sensitive locations like ITR Chandipur, Shree Jagannath Temple, and major transportation hubs.
Pope Leo XIV net worth: Here's how much salary the new pope Robert Prevost will receive and what assets he owns
Cardinal Robert Prevost, the first American pope in Catholic Church history, has been elected and will be known as Leo XIV. Succeeding Pope Francis, the 69-year-old from Chicago is seen as a church diplomat who prefers a simple lifestyle. While the Pope doesn't receive a salary, the Vatican covers all his expenses, ensuring his needs are met.
US Cardinal Prevost elected Pope Leo XIV, first American pontiff
Cardinal Robert Prevost of the USA was elected as the new pope and head of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced to the crowds gathered in St. Peter's Square.
Muthoot Microfin reports Rs 401 crore net loss in Q4 amid asset quality crisis
Muthoot Microfin faced a significant setback, reporting a net loss of Rs 401 crore in the fourth quarter due to a surge in provisions for bad loans and breaches in borrowing covenants. The asset quality crisis led to a full-year net loss of Rs 223 crore, contrasting with the previous year's profit.
Black smoke over Vatican: Cardinals fail to elect Pope as Church faces crucial crossroads
Black smoke rose from the Sistine Chapel on the first day of the papal conclave, signaling no consensus on Pope Francis’s successor. As the Catholic Church faces internal division, cardinals must now choose between continuing Francis’s reformist path or steering in a more conservative direction amid global scrutiny and rising calls for inclusion
Black smoke pours from Sistine Chapel chimney, indicating conclave hasn't elected pope in first vote
Cardinals gathered in the Sistine Chapel to begin the process of electing a new pope, following the resignation of Pope Francis. The initial ballot yielded no clear winner, as indicated by black smoke emerging from the chimney.
'No Kings' mass protests planned in US to counter Trump's birthday military parade: Key points
A protest has been planned to counter US President Donald Trump's military parade on June 14. The 'No Kings' group is organizing nationwide demonstrations against Trump's policies. These events coincide with the US Army's 250th-anniversary parade. Over 100 'No Kings' events are registered across the US. The group aims to reject authoritarianism. Law enforcement agencies in Washington, D.C., are preparing for heightened security.
Fresh twist in Signal Gate scandal? Bombshell report on Pete Hegseth makes startling revelation about Pentagon business
Pete Hegseth, a close ally of US President Donald Trump, reportedly discussed Pentagon business on at least 12 separate Signal app chats, according to a report. Senior Trump administration officials came under fire for discussing sensitive military operations in a Signal chat group that 'mistakenly' included a senior journalist. Hegseth even shared details about strikes in Yemen in a second group chat that included his wife, brother and his personal lawyer.
Papal conclave 2025: One of these cardinals could succeed Pope Francis as May 7 ceremony draws closer
All eyes have turned toward the upcoming papal conclave on May 7 where 138 cardinals from across the world will be electing the new pope. While there are no official papal candidates, speculations are rife that one of the following ‘papabile’ cardinals will become the next pontiff. Who are they? Read on to know.
Microfin in major crisis with near-2x NPA surge; Joint-liability lending model on shaky ground
India's microfinance sector is facing a severe crisis as delinquency rates have surged, with gross NPAs reaching 16% in FY25. This rise has led to lenders reducing their loan portfolios. Small finance banks are particularly affected, and regulatory measures in Tamil Nadu are expected to worsen the situation, impacting investor confidence and share prices.
Microfinance recovery at least 2 quarters away; Q4 going to be tough for NBFCs, MFIs: Shweta Daptardar
Elara Capital's Shweta Daptardar indicates the microfinance sector still faces challenges, with recovery expected to take at least two more quarters, further impacted by the Tamil Nadu ordinance affecting credit discipline. While liquidity infusion and rate cuts favor AAA-rated NBFCs, asset quality concerns persist. Monitoring asset quality trends remains crucial for the sector.
Why is the tax-free income Rs. 12.50 lakh and not Rs. 12.75 lakh under the new tax regime for salaried taxpayers?
Standard deduction in the new tax regime: Due to an error in Budget 2025, a salaried employee may not be able to avail of the standard deduction of Rs 75,000 from their salary. Instead, he may get a standard deduction of Rs 50,000 even in the new tax regime. Read on to know why.
NIA probing 6 UAPA cases against LeT offshoot TRF
TRF's activities started in 2020-21 following which the first case regarding recovery of improvised explosive devices from a LeT terrorist in Bathindi in Jammu was registered on June 27, 2021. "Investigation revealed that Pakistan-based handlers of proscribed terror outfit LeT and their associates based in J&K had conspired to cause extensive terror activities. They had planned that responsibility for the terrorist acts so committed would be taken by the pseudo-acronym TRF to maintain plausible deniability and evade," explained a senior official.
Goldman Sachs revises banking sector outlook, expects 10-12% credit growth, better profitability: Rahul Jain
Goldman Sachs has shifted its outlook on the Indian banking sector from cautious to optimistic, anticipating improved profitability driven by peaking credit costs and well-absorbed margin impacts from RBI rate cuts. While Q4 earnings have been promising, the sector's credit growth, expected to be around 10-12%, remains a key factor to monitor, contingent on GDP growth.
Pope Francis vs Donald Trump, JD Vance: Here’s how the late pontiff took stand against US’ anti-immigration policies
Pope Francis, the first Latin American pontiff, died at 88, leaving behind a legacy rooted in compassion for migrants and the marginalized. Known for his humble lifestyle and progressive social stance, he often clashed with political leaders over immigration and pushed for Church reforms. Though liberal on many issues, he upheld conservative views on abortion and same-sex marriage.
Pope Francis is no more: Who will be the next leader of the Catholic Church?
Pope Francis, the first Latin American head of the Roman Catholic Church, died at age 88, the Vatican announced on Monday. His papacy was marked by reform efforts and internal tensions. Leaders worldwide, including PM Modi, offered condolences. Attention now shifts to his successor. Of 252 cardinals, only 138 under age 80 will vote in a secret conclave to elect the next pope.
Pope Francis: The journey of Jorge Mario Bergoglio, a humble revolutionary who walked with 'the forgotten'
Pope Francis, the first Latin American and Jesuit pontiff, passed away on 21 April 2025 at the age of 88. Renowned for his humility and advocacy for the marginalised, his papacy was marked by significant reforms and outreach to diverse communities. Despite facing criticism from conservative factions, he remained steadfast in his mission to create a more inclusive and compassionate Church.
Pope Francis passes away: Who are the four Indian Cardinals eligible to vote for the next head of Catholic Church?
Pope Francis, the first Jesuit and Latin American pontiff, passed away at 88 after a 12-year papacy marked by reforms and advocacy for social justice and environmental causes. A conclave of 138 cardinals, including four from India, will convene in the Sistine Chapel to elect his successor, following centuries-old traditions.
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