Gautam Adani pips Mukesh Ambani to become richest man in Asia

News Network
November 24, 2021

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New Delhi, Nov 24: Chairman of Adani Group, Gautam Adani, has replaced Reliance Industries Limited (RIL) chairman Mukesh Ambani to become the richest man in India and Asia for the first time ever. 

Currently, Adani Group operates a slew of companies including Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, and Adani Power, among others.

Adani’s wealth has swelled up recently, especially after the onset of the pandemic. For instance, his total wealth stood at around $4.91 billion on March 18, 2020. As of now, his net wealth has touched nearly $90 billion - a rise of more than 1800%. 

On the other hand, Ambani’s net wealth has taken a slight hit after Reliance Industries scrapped the deal with Aramco, a Saudi Arabian public petroleum and natural gas company based in Dhahran. 

However, the change of fortune was expected to happen anytime soon. According to Bloomberg Billionaire Index, Adani’s wealth had stood at $88.8 billion on Tuesday (November 23). On the other hand, Ambani’s net wealth stood at $91 billion.  

But on Wednesday (November 24), shares of Reliance Industries Limited dropped by 1.77% while the shares jumped 2.34%, closing in on the difference between the net wealth of Adani and Ambani. 

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News Network
February 1,2026

Bengaluru: Karnataka Deputy Chief Minister D K Shivakumar on Sunday criticised the Union Budget presented by Finance Minister Nirmala Sitharaman, claiming it offered no tangible benefit to the state.

Though he said he was yet to study the budget in detail, Shivakumar asserted that Karnataka had gained little from it. “There is no benefit for our state from the central budget. I was observing it. They have now named a programme after Mahatma Gandhi, after repealing the MGNREGA Act that was named after him,” he said.

Speaking to reporters here, the Deputy Chief Minister demanded the restoration of MGNREGA, and made it clear that the newly enacted rural employment scheme — VB-G RAM G — which proposes a 60:40 fund-sharing formula between the Centre and the states, would not be implemented in Karnataka.

“I don’t see any major share for our state in this budget,” he added.

Shivakumar, who also holds charge of Bengaluru development, said there were high expectations for the city from the Union Budget. “The Prime Minister calls Bengaluru a ‘global city’, but what has the Centre done for it?” he asked.

He also drew attention to the problems faced by sugar factories, particularly those in the cooperative sector, alleging a lack of timely decisions and support from the central government.

Noting that the Centre has the authority to fix the minimum support price (MSP) for agricultural produce, Shivakumar said the Union government must take concrete steps to protect farmers’ interests.

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News Network
February 9,2026

The Supreme Court on Monday expressed grave concern over digital frauds, noting that more than ₹54,000 crore has been siphoned off through cyber crimes, and described the scale of the fraud as “absolutely robbery or dacoity”.

A bench of the apex court sought swift and coordinated action from the Reserve Bank of India (RBI), banks and other agencies to curb the rising menace of digital fraud. Observing that such large-scale losses could not occur without serious lapses, the court said the frauds “may be due to collusion or negligence of bank officials”.

The bench directed inter-departmental agencies to prepare a draft memorandum of understanding (MoU) within four weeks to strengthen coordination and effectively tackle digital frauds.

Taking note of an existing standard operating procedure (SOP) framed by the RBI, which prescribes immediate steps such as temporarily blocking debit cards to prevent cyber-enabled fraud, the court directed the Centre to formally adopt and implement the RBI’s SOP across the country.

“We direct the Centre to ensure pan-India implementation of the RBI SOP for inter-agency coordination in dealing with digital frauds. We also direct the CBI to identify cases of so-called ‘digital arrest’,” the bench said.

The Supreme Court further asked the Gujarat and Delhi governments to grant sanction for investigation in identified cases. It also directed the RBI, the Department of Telecommunications (DoT) and other concerned authorities to jointly hold a meeting to evolve a framework for compensation to victims of digital arrest frauds.

Emphasising victim relief, the court said a “pragmatic and liberal approach” is required while considering compensation for those affected by digital arrest scams.

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