Business News

A powerful spell of heavy rain and thunderstorms lashed Delhi in the early hours of Sunday, bringing air traffic to a temporary halt at the Indira Gandhi International Airport and triggering severe waterlogging across the capital.As many as 49 flights, including 17 international ones, were diverted at the country's largest IGI airport due to heavy rain and thunderstorms, reported PTI.The India Meteorological Department said the city's primary weather station recorded winds gusting up to 82 kmph and 81.2 mm of rain in six hours -- between Saturday 11.30 pm and 5.30 am on Sunday.In a post on X at 3:59 am, IndiGo said adverse weather conditions in Delhi led to temporary disruptions in flight operations."While the weather is gradually easing, some airside congestion remains. We assure you that flight movements are steadily resuming as conditions permit," the airline said.At 5:54 am it said in an X post that flight operations are back to normal with clearer skies over Delhi.Meanwhile, on the ground, visuals from several parts of Delhi painted a grim picture. A car was seen almost fully submerged at Minto Road — a chronic flooding hotspot. Similar scenes played out in Moti Bagh and near Terminal 1 of the Delhi airport, where ankle to knee-deep water disrupted traffic and left commuters stranded.— ANI (@ANI) The India Meteorological Department (IMD) had earlier sounded a red alert for Delhi and nearby regions late Saturday night, warning of intense thunderstorms and high-speed winds of up to 60 kmph. The Nowcast alert cited a thunderstorm cell approaching the city from the northwest, advising residents to stay indoors and avoid open spaces or unstable structures.The IMD also warned of possible impacts like tree uprooting, falling branches, and moderate crop damage — particularly to banana and papaya plantations — in affected areas.Parts of Haryana, including Jhajjar, also experienced similar weather activity, with heavy rain and thunderstorms reported.This intense burst of weather follows Wednesday’s dust storm, where gusty winds of up to 70 kmph disrupted power supply in parts of the city.Authorities have urged residents to remain cautious and report any emergencies as the weather may remain unstable over the next 24 hours.

The finance ministry has called on banks, debt recovery tribunals and other stakeholders to work together to reduce the backlog of pending cases and create a more effective recovery ecosystem, to help free up capital stuck in litigation.This capital could be redeployed "for productive use in the economy," the ministry said in a statement on Saturday.The appeal was made during a colloquium held earlier in the day with chairpersons of Debt Recovery Appellate Tribunals (DRATs), presiding officers of debt recovery tribunals (DRTs), and representatives of various public and private sector banks as well as the Indian Banks' Association.Among the key issues deliberated were prioritisation of high-value cases, use of alternate dispute resolution mechanisms such as Lok Adalats, and further reforms to reduce turnaround time for various processes in DRT proceedings, the statement said.It was also pointed out that robust monitoring and oversight mechanisms by banks are key for increasing recovery through DRTs.The ministry also highlighted key initiatives taken by the Department of Financial Services such as the adoption of revised DRT regulations, mandatory e-filing, hearing through video conferencing, and hybrid hearings for reducing turnaround time of the matters adjudicated by the tribunals.