The country’s digital payment volume surged by around 50% annually in the 5 years till 2022, with digital transactions rising to 8,840 crore payments in FY22.
The country’s adoption of EVs is considered to be a key step in of achieving net zero carbon emissions by 2070, as traditional vehicles are one of the biggest sources of pollution, and the sector is forecasted to grow immensely in the future.
While the smartphone industry’s shipments slipped 19% YoY, the semiconductor segment may grow at a compound annual growth rate of 17.10% to about ₹6.62 Lakh Crores by 2028.
Ease in inflation rates, stable GDP growth, and investor-friendly policies contributed to the increase in MF investments in equities.
RBI’s Monetary Policy Committee concluded its three-day meeting and left the repo rate unchanged at 6.5%. By lowering the retail inflation forecast to 5.1% and retaining the GDP growth projection at 6.5%, it prompted several discussions.
In FY23, India’s Gross Domestic Product grew by 7.2%. However, sector-wise data revealed the same to be lacklustre, especially when it comes to an equal distribution of wealth.
As per RBI, India's forex reserves surged for the 3rd consecutive week to reach this record, closer to its all-time high of $645 Billion (about ₹53.20 Lakh Crores), achieved in October 2021.
Despite soaring expenses and a low affordability of owning real estate in Mumbai, the city continues to record high demand and sales of residential properties.
Some arrangements made by domestic airlines include measures to help pilgrims bring back Zamzam water, bright luggage tags, boosted ground staff teams for elevated service, etc.
India’s economy has largely been on a growth trajectory but is potentially at risk of a slowdown owing to many factors, including the influence of HNIs, which could either work for or against this.
Despite commencing the session in green, on 9th June 2023, Sensex declined by 223.01 pts to 62,625.63 with Nifty lagging behind by 71.10 pts at 18,563.40.
The premier medical institute detected the malware attack at around 2:50 PM on 6th June 2023, which was neutralised by their digital security provisions.
In its latest Global Economic Prospects report, the bank reduced India’s growth outlook to 6.3% and stated that global growth could slow down to 2.1% during 2023.
In the last fiscal, the number of home loan beneficiaries shot up by 56% YoY to 4.26 lakh homebuyers as well. The same stood at about 2.73 lakh individuals in FY22.
The study, titled ‘The e-Conomy of a Billion Connected Indians’, stated that this economic growth will also account for around 12-13% of the country’s GDP.
In case an individual does not own a valid Aadhaar number, they can opt for other verification methods by using their workplace credentials or work email address instead.
The public sector bank is looking to implement environment-driven financial risks in its overall strategy of risk management for the ongoing fiscal, as mentioned by Dinesh Khara, its Chairman.
In April 2023, banks’ lending rate surged to 15.9%, up from March’s figure of 15%, despite RBI’s cumulative repo rate hike of 250 bps, which happened over the course of multiple revisions in FY23.
The media firm said that TV channels under Star Sports Network India have added 15 sponsors, while its OTT platform, Disney+ Hotstar, has secured 13 sponsors.
With this move, the tech company is firmly venturing into the AR segment and will go against Meta Platforms’ Quest Pro series of headsets.
The hiring sentiment across multiple sectors, including India’s mobile phone segment, is being affected by certain headwinds. Along the same line, firms like Reddit slashed their workforces.
The Income Tax Department filed an FIR against the alleged culprits and shared the names, addresses, bank account and PAN details with Crime Branch officials.
It has been developed to provide early-stage ventures access to the firm’s full-stack retention platform with benefits of about $100,000 (around ₹82.53 Lakhs) for free.
The committee recommended measures including the easier release of pledged assets, mis-selling audits, and a facility for pensioners to submit life certificates at any bank branch.
In FY23, KPIT Technologies Ltd., Cyient India Limited, and Tata Elxsi Limited, among others, witnessed their revenues tick up by 36.7%, 30.2%, and 24.9%, respectively.
A senior official has disclosed that the revenue department is expanding the Personal Income Tax (PIT) base by utilising data to bridge compliance gaps and leakages.
Two startups, Rapidor and Signcatch, have become a part of the ONDC network and have completed about 160 test B2B transactions between themselves, last week.
This projection was made considering that India logs viable domestic growth, the US economy doesn’t slip into a recession, and the government’s policies remain supportive.
The public sector bank said that it will also explore new collaborations with Non-Banking Financial Companies and fintech firms for co-lending ventures.
According to the employment portal Indeed, this rise over the last three years highlights how companies are ramping up their priority on sustainability efforts.
MCX gold prices opened at ₹59,869/10 grams but fell to an intraday low of ₹59,813, and an intraday loss of about 0.10%. Similarly, Silver rates opened at ₹71,971/kg on MCX and hit an intraday low of ₹71,951.
The music-streaming giant plans to restructure its business. Moreover, it will merge its subsidiaries, Gimlet Media Inc. and Cutler Media, LLC (Parcast) into a single division.
This move is anticipated to improve the group’s confectionary portfolio, which it joined in 2012. The Good Stuff, LuvIt’s parent, was previously owned by Mitsui Ventures and Goldman Sachs.
On 5th June 2023, Bajaj Finance Ltd. signed a Memorandum of Understanding with Maruti Suzuki India Limited, to boost consumers’ financial flexibility and enhance their car purchase experiences.
The upcoming auction by the central bank marks the third consecutive one announced by it in the past three days, which will occur between 12:30 PM and 1 PM, while the funds’ reversal will be held on June 9.
Shri. Siddaramaiah recently stated that, under the ‘Gruha Jyoti’ programme, free power will be provided to all citizens of the state, including those living in rented properties.
The public sector bank said that this will apply to those who submitted the formerly changed agreement for their bank locker on or before 31st December 2022.
The Centre might close Mahanagar Telephone Nigam Limited and shift its operations and employees to Bharat Sanchar Nigam Limited, as per official sources.
The group revealed that the new arm, Novel Jewels Ltd., will work towards establishing large-format jewellery retail stores across India and offer in-house brands.
This will come into effect from July 14 onwards. The earlier expiry was set to Thursday. However, if Friday happens to be a holiday, then the previous working day shall be considered.
On 5th June 2023, SBI Cards and Payment Services Ltd.’s board gave its approval to raise capital via Non-Convertible Debentures (NCDs) through multiple tranches.
A press release from the firm stated that Bajaj Finserv Asset Management Ltd. will include different categories of equity, hybrid, and fixed income tools.
A report by the Committee for Review of Customer Service Standards under RBI’s Regulated Entities (REs) mentioned that Faceless / Straight Through Processes’ (STPs) could be implemented for closing accounts and more.
Multiple Non-Banking Financial Companies-Micro Finance Institutions (NBFC-MFIs) spotted certain clauses in the India Microfinance Equity Fund, which they deem to be quite inflexible.
This would provide the necessary knowledge and insight for tracking and evaluating the development of India’s financial inclusion, as per RBI’s statement.
The airline’s upcoming launch of its new daily flights between Bengaluru and London Heathrow will help develop its international network and connectivity further in India.
According to a report by the Federation of Automobile Dealers Associations (FADA), two-wheeler and passenger vehicle registrations soared by 9% and 4%, respectively, too.
The insurer stated in a press release that it has also simplified the documentation procedure to ensure that the affected persons get rapid financial support.
The public sector bank is planning to auction 0.42% of its stake in NSE at ₹3,150 per share, despite the exchange’s anticipated public listing currently awaiting a ruling by the Supreme Court.
The waiting time for Multi-Purpose Vehicles such as Toyota Hycross, Maruti Suzuki Grand Vitara, and Honda City’s hybrid variant, has now extended up to two years.
This change in preferences has come at a time when funding has been affected due to the heavy cash-consuming business models implemented by fintech and consumer-tech spaces.
The airline has applied to the Directorate General of Civil Aviation to approve this plan for restarting operations, which would see it run 152 daily flights.
ONDC’s new rollout comes with features such as delivery scheduling, bulk order purchasing, dynamic pricing, and embedded financing services in the form of B2B credit.
The lifestyle app for elderly citizens secured this capital from firms like Matrix Partners India, Climber Capital, DBR Ventures LLP, and other angel investors.
Some of these include online claims’ settlement, flexibility in life certificate submissions by pensioners, and a centralised KYC database, among others.
The organisation is likely to contact the Finance Ministry to obtain a go-ahead for investing in exchange-traded funds across permissible asset classes, to amplify its returns.
Anil Jayaraj said that Viacom18 had met its targets to reach 55 crore viewers and attract ad revenue worth ₹3,700 Crores during this season of the IPL.
Such firms are set to capitalize on positive market conditions and various high-profile events such as the ICC Cricket Men’s World Cup and the G20 summit.
Chris Plummer, Security Architect at Dartmouth Health, uncovered a bug in Gmail that fakes Google’s stamp of approval, convincing end users of the wrong email addresses’ authenticity.
The industry has transitioned into becoming profitable and is projected to bag inflows of about ₹66.37 Lakh Crores. This is a cumulative forecast for over 300 airlines.
Billionaire, Gautam Adani and, ex-cricketer, Virender Sehwag promised free education to the children of the families affected by the deadly train collision.
These product rollouts are against the backdrop of an industrial slowdown, which is expected to grow by 5-7%. The same is a de-escalation when compared to FY23’s projection of 27%.
The edtech startup mentioned that Aakash’s revenue is on track to reach ₹4,000 Crores with an EBITDA of ₹900 Crores in FY24. It has also obtained a sanction for an IPO from BYJU’s board.
The Indian Real Estate Investment Trust (REIT) informed domestic exchanges that it plans to raise this sum to acquire the Indian offices of GIC Pvt. Ltd.
The modifications of ‘Tata Neu’, which were completed just in time for the Indian Premier League, have contributed to a sudden business surge, revealed CEO Pratik Pal.
An announcement regarding the same will be made by the Shaktikanta Das-led Monetary Policy Committee (MPC) on 8th June 2023, following the three-day long meeting.
Organisations like Axis Bank, Capgemini and NatWest Group, among others, have rolled out initiatives to boost inclusivity in their office spaces.
Many firms commence their stock planning for the festive season during the May-June period, and place orders so that production can begin in June. Marketers are positive about a revival in discretionary spending.
The IT firm’s stock was trading at ₹405 at around 10:00 AM on 5th June 2023, after opening at ₹408, against its previous closing price of ₹ 404.95 per share.
The edtech firm needs to pay this instalment for its largest unrated loan of $1.2 Billion (about ₹9,912 Crores) on 5th June 2023. Failure to pay the same will be considered a breach of contract.
The malware, ‘Android.Spy.SpinOk’, has been embedded into different kinds of apps by developers. It has been designed to retain users’ interest via mini-games, tasks, prizes and rewards.
The domestic index hit a record of 14,530.8 on 5th June 2023, mainly spurred by improvements in the supply of semiconductor chips and strong monthly sales.
These insurance firms have also been asked to immediately contact the authorities and compile a list of all civilians who lost their lives or were injured during the accident.
This was in addition to lesser client acquisition at certain big service exporters in India, which reduced the biggest global outsourcing hub by 22%.
Pavitra Shankar, the firm’s MD said that they want to encash on the rising residential properties’ demand and hope to grow housing sales by 15-20% this fiscal.
On 4th June 2023, Bajaj Finserv Ltd. signed a Memorandum of Understanding with the Maharashtra government. The undertaking is likely to create about 40,000 jobs in the city.
The ‘Circular Economy: Recycling Waste to Wealth’ report mentioned that there is an immediate need to implement policies that ensure natural resources’ conservation and more.
The 74-year-old real estate agent managed to secure 75% in the exam. He mainly attempted the exam to gain recognition from RERA and continue his business for a few more years.
A recent report from Counterpoint showed that India’s smartphone shipments dropped YoY by 19% during the first quarter of 2023 from the year-ago period.
This order comes about during a time when the airline is yet to receive yet another 500 jets from Airbus, out of its total order of 830 Airbus A320-family jets.
This was after the Indian startup sold new shares as part of its plan to raise funds worth $1 Billion (about ₹8,252 Crores) from Tiger Global, General Atlantic, and Ribbit Capital, among others.
In FY22, the CEO’s salary had been ₹71.02 Crores, as per the report. Additionally, Infosys' Median Remuneration of Employees (MRE) for FY23 grew to around ₹9 Lakhs.
Deutsche Lufthansa AG’s CEO stated that the two airlines plan to roll out a joint venture servicing the India-Frankfurt route, the revenues of which will be split equally.
The historic Indian version of the motorsport event will be held at the Buddh International Circuit (BIC) in Greater Noida, from 22nd to 24th September 2023.
Indian indices continued their positive momentum from the opening bell, on 2nd June 2023, and ended the session higher with Sensex settling at 62,547.11 and Nifty closing at 18,534.10.
The plant is being developed by NEOM Green Hydrogen Company (NGHC), which is a balanced joint venture between NEOM, Air Products, and AWCA Power.
The tech giant has collaborated with the Ministry of Skills Development and Entrepreneurship to help skill 6,000 students in government-run institutions.
Kesari Tours Pvt. Ltd. and Yatra Online Pvt. Ltd., are being called in for court hearings because they tried to escape issuing refunds for pandemic-induced tour and flight cancellations.
Central Asia and Africa are two new additions to the airline. It also plans to connect Indonesia, Nairobi, Jakarta, and Kenya, with Mumbai via direct flights in late July or early August.
On 2nd June 2023, the food delivery platform opened at ₹69.40 on the BSE, compared to its previous close of ₹67.92 and rose to an intraday high of ₹73.20.
The amendment exempts the buyer from paying taxes on notional gains, especially if the market value of LIC’s shares is greater than the price finalised via competitive bidding.
This is considered to be a part of Google CEO, Sundar Pichai’s commitment to investing $300 Million (around ₹247 Crores) in locally developed startups.
The S&P Global Ratings report also stated that Reliance Industries Limited’s growing penetration in the retail and digital segments will pave the way for enhanced revenues.
The edtech firm’s executives allegedly took education loans in the students’ names but siphoned off the sanctioned money, estimated to be worth around ₹18 Crores.
In Q1 2023, Hyderabad noted the greatest degree of absorption (46%), supported by the sale of approximately 14,280 units of newly launched housing projects.
On Thursday, 1st June 2023, Aditya Birla Capital Ltd’s board permitted a preferential issuance of this amount to its promoter group entity and promotor, as per a statement by the company.
This surge is due to the reduced benefits of the 2nd phase of the subsidy scheme, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II).
The automaker’s overall wholesales increased to 1.78 lakh units in May. It also sold 1.61 lakh vehicles that month, while its domestic sales grew by 13% to 1.51 lakh units.
The asset management firm received this amount in its 4th funding round of this category, which is over twice as large as its earlier fund of ₹1,000 Crores.
This means that tourists’ stay duration can now only be up to 30-60 days, based on the visa type. Additionally, those overstaying in the country will be fined DH50 (around ₹1,120) each day.
Some common measures taken by firms include establishing creche subsidies, flexible work options, nursing rooms, employee resource groups, onsite childcare, designated parking spots, etc.
The markets regulator is planning this to allow for enhanced transparency within Indian capital markets and to prevent potential circumvention of Minimum Public Shareholding (MPS) requirements.
The National Payments Corporation of India revealed this on Twitter on 1st June 2023, adding that this transaction volume amounted to around ₹14 Lakh Crores.
This amount is split between around ₹1.58 Lakh Crores of taxes, ₹10,958 Crores in non-tax revenue, and ₹642 Crores worth non-debt capital receipts. The Centre’s overall expenditure was ₹3.04 Lakh Crores.
When compared to its closing value of ₹31.34 on 1st June 2023, the floor price for the shares' Qualified Institutional Placement (QIP) shows a discount of 4.33%.
While the National Pension System suffers from inadequacy and minimum pension norms, these new firms are offering innovative data-driven pension services.
Shri. M. K. Stalin urged the Union Civil Aviation Minister to increase direct flight connectivity between Singapore to Madurai, too. He also cited the growing Japanese population in Chennai.
The Taiwanese tech producer will make around 2 crore iPhones per year at this newly acquired plot at Devanahalli, in the Bengaluru Rural district of Karnataka.
The discussions were reportedly called off after the edtech) startup’s lenders went to court and accused the firm of hiding gathered funds worth $500 Million.
The court further directed on 30th May 2023, that banks should undertake a more humanitarian method when examining applications for such lending products.
Running from 30th May 2023 to June 5, the campaign will offer slashed prices on flights covering 16 Indian cities, such as Goa, Mumbai, Delhi, and Pune, among others.
The private bus, on which the duo was aboard, collided with a state-run bus at Narketpally in Telangana's Nalgonda district, at around 5:30 AM on 31st May 2023.
Prior to this, the Income Tax Department released the ITR-2 forms in an offline mode on May 17 and released the ITR-1 and ITR-4 forms on 20th May 2023.
This has occurred since the shares of LVMH, owned by Bernard Arnault, the previous title-holder, declined sharply during Wednesday, 31st May 2023’s trading session in Paris.
The Offer-For-Sale will be opened to non-retail and retail investors on Thursday (June 1, 2023), and Friday (June 2, 2023), involving the sale of up to 18.48 crore shares.
Meanwhile, 83% stated that they are willing to assign most tasks to AI to lower their workload. This was mentioned in Microsoft’s report - ‘Work Trend Index 2023’.
As per the mining firm’s statement, its loan obligations for the quarter amounted to $1.7 Billion. It plans to further reduce its debt burden in this fiscal.
This move will permit banks to develop their own credit loss models and disperse the higher provisions for a five-year period under a new system of putting money aside for lending.
This may be complemented by the expansion of factories that need to produce 200 GWh batteries, which will increase the real estate requirement by another 2,400 acres.
In addition, prime areas could see a hike of up to 50%, while those closer to upcoming Special Economic Zones (SEZs) will rise by 75%. The AP government stated that this has been imminent but was delayed due to COVID-19.
Indian Oil announced the news on its official website. However, the firm has not changed the price of domestic LPG cylinders, diesel, or petrol.
Under the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM-SVANidhi) scheme, 46.54 lakh small loans were disbursed, of which about 40% have already been repaid.
Earlier, regulations mandated that the decision to pass such deemed conveyance and land ownership applications be taken after the passage of 6 months.
Even though operating profitability displayed improvement on a sequential basis, it was still under pressure, as opposed to the year-ago level. 2,863 firms’ revenue grew by 13.4% YoY in Q4FY23.
The Mumbai and Delhi stores' inflows are more than double the highest revenues recorded by any electronics store in India, especially during a non-festive period.
In order to be eligible for the service, passengers have to sign up for the airline’s loyalty programme called ‘KrisFlyer’, which comes with no registration charges.
Due to reduced subsidies under the Centre’s FAME II scheme, several e-scooter and bike makers are planning to hike their product prices in a staggered manner.
The fundraising will be done via an equity sale for institutional investors, as part of the firm’s comeback strategy after being impacted by an incriminating report published by a US investment research firm.
The e-pharmacy platform has been trying to raise this equity amount for a year, as per the agreement terms of its high-cost loan taken from Goldman Sachs.
According to the International Labour Organization’s (ILO) 11th edition of the World of Work Report, global unemployment is projected to affect 19.1 crore people this year.
In a statement to BSE, Dixon stated that the tie-up with Xiaomi India will be formalised post the execution of definitive agreements, but no details regarding the financials were revealed.
The firm's annual figures for FY23 also showed that its EBITDA margins surged by 57% YoY to ₹256 Crores, reflecting a hike of 65 bps.
D. K. Shivakumar, Deputy CM of Karnataka, said that he is examining an in-depth proposal for this hike, submitted by the Bruhat Bengaluru Mahanagara Palike.
Venkatram Mamillapalle, Renault India’s Managing Director and Country CEO, said that the country is a strategic market for them, and they have a long-term plan in mind.
In the financial sector, AI tools are utilised to help investment managers analyse and manage portfolios. For the same, these technologies use advanced computer techniques and algorithms.
Despite commencing May 2023 in ‘green’, Indian indices ended the month in ‘red’ with Sensex slipping by 346.89 pts to 62,622.24 and Nifty sliding by 99.40 pts to 18,534.40.
Karnataka’s Commissioner for Road Transport and Safety directed the Regional Transport Office to issue the notice for the gross violation of surge pricing.
The AMC has placed a value of $4.04 Million (around ₹33.39 Crores) for 2,279 shares held by it in the firm, which is less than 1%, resulting in a fair value estimation of around $8.4 Billion (nearly ₹69,453 Crores).
The Maharashtra Housing and Area Development Authority (MHADA) started this lottery sale last week. Applications will be accepted till 26th June 2023 and results will be declared on July 18.
From now on, zones such as Tsogtsalu, Marsimik La, and Chang Chenmo, will start accepting tourists, with bikers being allowed to ride near the patrolling points of Pangong Lake, too.
This partnership is expected to further improve customers’ experience by enhancing payment conversions and enabling a broader range of payment methods, as per a joint press release.
A setting error may have caused the firm’s database to be publicly accessible between October 2016 to May 2023, compromising information such as customers’ names, phone numbers, addresses, etc.
In FY23, RBI’s expenditure rose by 14.05% and its income grew by 47.06%. It also recorded an overall surplus of ₹87,416.22 Crores, which was transferred to the government as dividend.
Tata Electronics Pvt. Ltd. said in a regulatory filing that it received funds worth over ₹608 Crores in FY23 from its holding company, Tata Sons Pvt. Ltd.
Automobile firms are planning about 12 new mid-size bike launches to compete with Royal Enfield, which leads the 250cc to 750cc two-wheeler category in India.
The firm will reportedly utilise the capital to expand the manufacturing capacity of its facility in Sabitgarh, Uttar Pradesh to process 9,000 Tonnes of Cane Per Day (TCD).
The brokerage firm claimed that if the Total Expense Ratio includes several other fees, asset managers could note a 27% drop in operating profits for FY25.
It is anticipated that the situation may worsen in the coming months as the new set of graduates will enter the labour market soon, thereby driving joblessness to over 25%.
According to data revealed by Bloomberg on 29th May 2023, the country’s market capitalisation currently stands at $3.31 Trillion (about ₹273 Lakh Crores).
The new ‘bunker equivalent in payment systems’ will not be dependent on conventional technologies, with bare minimum staff being able to use it from any location.
Both companies are reportedly considering an exit from InterGlobe Technology Quotient (ITQ), and 100% of the stake is set to be offloaded. Citigroup and Nomura have been enlisted for the sale process.
The concept allows employees to work from home on Mondays and finish only the basic or essential tasks necessary for their roles. No meetings will be scheduled that day either.
The share price increased by 6.6% within the past month, while it noted an approximate 18% decline over the last 6 months.
The National Industrial Corridor Development and Implementation Trust (NICDIT) is tasked with creating smart industrial cities in greenfield locations with sustainable ‘plug-n-play’ systems.
Tata Technologies Limited’s RAINBOW programme is aimed at recruiting more female candidates in FY24 and creating support structures for them to advance in their careers.
Through this new feature, passengers will be able to utilise these tickets from their smartphones, since a QR code-based ticket will be sent directly to them on WhatsApp.
A senior government official said that this platform would house various kinds of supply chains data that could benefit such firms from developing nations.
After noting a 4.2% surge in its share price, the firm became the first chip manufacturing company to reach a trillion-dollar valuation mark.
The move is aimed at curbing air accidents amidst unpredictable weather conditions since there have been numerous fatalities within the last year.
It is aiming to carry out this expansion of the ongoing Central Bank Digital Currency (CBDC) pilot project in FY24 and incorporate multiple features in it.
The firm sacked 200 employees from its workforce comprising of roughly 750-800 staff members on the basis of ‘unsatisfactory’ personal performance.
Ravinder Singh Dhillon, the company’s Chairman, said that the disbursements to renewable energy projects may rise to ₹3 Lakh Crores in the coming seven years, in order to achieve this target.
The Japanese firm will invest around $15.7 Million in setting up the new unit in Tamil Nadu, as part of its plan to capture the rising demand in the country.
Robin Bansal, a 25-year-old resident of Punjab, cleared the Union Public Service Commission’s exam with this high rank in his fourth attempt since 2019.
The Texas-based firm is looking for clarity on taxes before infusing its capital to build a Completely Knocked Down (CKD) units’ assembly facility in India.
Under the ‘Mo Ghara’ scheme, the authorities will offer loans to people facing difficulties in upgrading or completing the construction of their homes.
The organisation’s standalone net profit hit ₹279 Crores, gaining from the year-ago period’s ₹214 Crores. Revenue from operations jumped 40% YoY to ₹965 Crores as well.
The US Federal Reserve’s outlook for 2023 has been revised due to recently published macroeconomic data from the country, thereby building anticipation regarding another rate hike soon.
Since these have become further attractive, the government has decided to keep a check on investors. They will now need documentation to complete KYC and will be classified into three categories.
Many mall owners are considering bringing down the allocated spaces for multiplexes in their future establishments. However, they are hopeful for a recovery in July due to certain good releases lined up.
In 2022, around 10 crore smartwatches were sold in India. Hence, NoiseFit: Health & Fitness Services wants to pool about ₹331-413 Crores to compete in a growing market.
Net standalone sales of the firm were up by 15.81%, as it increased to 148.53 Crores from ₹128.25 Crores noted in Q4FY22.
With this new milestone, the platform surpassed its earlier record of being the world’s first-ever streaming service to exceed 2.5 crore concurrent viewers.
Also, 45 of the S&P BSE 500 organisations reportedly have the potential to return over ₹57.007 Lakh Crores to their respective stakeholders, in the form of dividends and buybacks.
India’s foreign direct investments fell from the $58.77 Billion of FY22, due to net lower inflows in sectors of automobile and computer software and hardware.
India was ranked among the top 5 source nations for Dubai’s estimated FDI capital and announced FDI projects.
This is being done as part of the company’s efforts to widen its production footprint in the country and to develop other products besides TVs and smartphones.
The firm seeks a business valuation of approximately $350 Million (about ₹2,892 Crores) to invest in new models and accelerate its production, sources revealed.
This is being done as part of the company’s efforts to achieve net zero carbon emissions by 2038, as mentioned by Arun Kumar Singh, ONGC’s Chairman.
Campbell Wilson, the airline’s MD & CEO, said that they are recruiting 50 pilots and 550 cabin crew staff every month and are adding six wide-body A350 planes.
Post securing final approval, all members will obtain an amount that is proportionate to their initial claims, irrespective of whether they were in favour of the resolution plan.
The plea, moved by Advocate and BJP Leader Ashwini Kumar Upadhyay, claimed the decision to be irrational and arbitrary, and if offence of Article 14 of the Indian Constitution.
The latest Periodic Labour Force Survey revealed that the unemployment rate across Indian cities is at its lowest since the survey was initiated in 2018-19.
Senior citizens and general category customers will be able to earn a maximum interest of 7.25% and 7.75%, respectively, applicable on FD tenors of 55 months.
The site revealed that the phone will come with action button controls and a Pro Max periscope camera. It's also expected to be the most open standard product in the series.
This is the first time that a negative net worth bank was acquired by another cooperative bank via a voluntary merger. RBI permitted such amalgamations in March 2021.
The interface will show information like notifications, weather updates, and calendar appointments when the iPhone is locked and placed horizontally.
The Bengaluru-based virtual events platform’s job cuts have impacted workers from operation, tech, marketing, and sales units in Europe, India, and the US.
The development came to light after the victim filed an FIR against the alleged, on Saturday, 27th May 2023, at Sector-63 Police Station, Noida.
Baring Private Equity Asia (BPEA EQT)’s offer for HDFC’s education loan subsidiary was higher than those received from the Asian firm’s competitors, according to sources.
This additional pay will be effective from June 1. The move comes in light of the firm’s attempt to save its operations after filing for insolvency recently.
According to him, AI technology has immense potential for humanity’s good, compared to any other preceding inventions.
Under this partnership, JioCinema will be able to stream NBCU’s TV series and films to Indian audiences by subscribing to JioCinema’s premium-priced plans.
Under this, the firm will pay more than ₹210 Crores over the 9 years of the leasing period. The lease is expected to be registered within a few days.
The Centre has six weeks to inform the Delhi High Court (HC) about the outcome of amending the rules for regulating e-pharmacies that operate without a licence.
The subsidiary of Tata Capital Ltd., which funds corporate, SME, and retail firms, posted a 32.03% YoY assets growth for FY23, amounting to ₹78,499 Crores.
The Delhi Development Authority (DDA) may introduce its new housing scheme in June 2023, which has been designed to aid economically weaker sections of society in purchasing a house.
As per data revealed by Bloomberg, Mahindra and Mahindra Limited (M&M) has taken the 22nd position between Yamaha Motor Co. Ltd. and Mitsubishi Motors Corporation.
Data from the Ministry of Labour & Employment’s Labour Bureau also shows that only 27.9% male staff worked more than the weekly 48-hour limit in the same year.
These measures are expected to help tackle labour shortages, an issue the country has been dealing with since the COVID-19 pandemic.
Mrs. Bectors Food Specialities Limited’s (MBFSL) Profit After Tax (PAT) surged to ₹27.2 Crores from standing at ₹10.20 Crores in the previous fiscal, inducing a stock rally of 8%.
The lender has announced its intention to up its stake in ICICI Lombard General Insurance Company Ltd. to more than 50%, causing the latter’s stock to surge by roughly 12%.
For this, the ministry has collaborated with the Indian Institute of Technology (IIT) Bombay. Also, Pralhad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines, will inaugurate the event.
The firm’s net profit soared to ₹82 Crores, up from standing at ₹42 Crores a year earlier. Its total revenue ticked up by 6% to ₹344 Crores as well.
A recent WABetaInfo report indicated that the upcoming Android 184.108.40.206 and WhatsApp update will give users access to the new screen-sharing feature, along with a revamped tab placement section.
The firm anticipates that more high-end products will lead to a bigger revenue contribution and has lined up various new launches, the CEO revealed.
Bank of Maharashtra (BoM) has been deemed as the best bank in bad loans management with its NPA declining to 0.25% in FY23.
The Talent Trends 2023 survey also revealed that 23% of India’s skilled workers are confused about jumping ship, but still willing to do so, despite there being a slowdown in hiring activity.
The company’s report, called ‘The Indian Payments Handbook – 2022-27’, further claimed that the nation will likely hit 100 crore daily payments by FY27.
Shashank Srivastava, Senior Executive Director of Sales and Marketing at the firm revealed that the company expects the situation to ease in the July-September quarter.
Spanning over 12.8 lakh square feet, the projects are situated in Mumbai's localities of Versova, Chembur, Bandra, and Mahim. Out of the 5 undertakings, 4 are societal redevelopments.
The Digital Personal Data Protection (DPDP) Bill will also aid online platforms to curb the spread of false information online, stated Union Minister Rajeev Chandrasekhar.
It will be sold as a Completely Built Unit (CBU) at an ex-showroom price of ₹89.30 Lakhs. The booking window for the car will be opened from June 2023.
The digital payments company claims to be the first to do so in the country and has already facilitated RuPay Credit on UPI’s acceptance in nearly 1.2 crore merchant outlets in India.
On 26th May 2023, benchmark indices opened in green. Both Sensex and Nifty gained by 0.17%, with the former closing at 62,501.69 and the latter at 18,499.30.
The firm also launched a new range of washing machines and TVs in India, on Thursday. These are available for purchase on the e-commerce platform, Flipkart.
Borge Brende, President of the World Economic Forum (WEF), believes that the country is undergoing a ‘snowball effect’, which will enable more jobs and investments.
It will be unveiled by Prime Minister, Shri. Narendra Modi on Sunday, 28th May 2023, alongside the inauguration of the new Parliament building.
The company’s revenue also declined by about 10% YoY to ₹2,126 Crores, from ₹2,360 Crores in last year’s corresponding quarter. Its advertising fell by 11% to ₹1,006 Crores against ₹1,119.7 Crores last year.
This development came about shortly after its Indian State-Run Enterprises (ISRE) sector logged a revenue weaker by 20.18% in the last fiscal.
A report by Kotak Institutional Equities mentioned that industry players have begun understanding the Account Aggregator (AA) framework’s benefits and have incorporated use cases in various retail product segments.
General Insurance Corporation of India Limited’s Profit After Tax for FY23 stood at ₹6312.50 Crores, against a PAT of ₹2,005.74 Crores for the former fiscal.
Sajjan Kumar, MD of Nikon India, said that this will be fuelled by economic growth, increasing penetration, and the rise in mobility.
Online criticisms began to flood in when SAU posted a job listing, touting two openings for research assistants for a 10-month-long project.
The nation’s GDP declined by 0.3% for the first quarter, after a 0.5% fall in the previous one, as dwindling energy supplies led to higher prices and economic inflation.
At 9:58 AM, on 26th May 2023, its shares were seen trading at ₹768.90, which is 11.5% higher than MedPlus’ previous closing price.
The offering implements AI and cloud computing to give reliable investment advice. A user is able to filter out, analyse, and pick securities according to his/her personal needs.
Sources revealed that the foreign firms are looking to invest $1.5-2 Billion in the new clean energy platform, wholly owned by Greenko’s two founding members.
The Free Trade Agreement (FTA) may boost Indian organisations’ exposure to the resource-rich Eurasia market. China is already logging significant growth by expanding in the same.
The brokerage company’s report mentioned that Reliance features the benefits of its retail and mobile networks, digital ecosystem, and home field.
Smartphone sellers around India are reporting a 10% to 11% rise in sales as several customers are using their ₹2,000 notes to buy the latest premium handsets.
Rohit Pujari, Odisha’s Higher Education Minister, said that the Electronics & Information Technology Department is working on ensuring free 1 GB data at all campuses before the next academic session.
This downtrend may have been induced by the global economic slowdown and geopolitical tensions, a report released by the Indian Staffing Federation (ISF) explained.
Statistics show that the number of UK visas granted to Indian professionals surged by 63% from 13,390 in FY22 to 21,837 in FY23.
This directive comes shortly after Go First’s announcement on Tuesday, 23rd May 2023, that it doesn’t have a fixed timeline for resuming operations.
In line with this year’s Budget announcement, the Finance Ministry raised the exemption limit on the leave encashment earned by salaried employees to ₹25 Lakhs.
The company is aiming for a sales target of 1 lakh units of electric passenger vehicles for the ongoing fiscal, after selling 50,000 last year, along with a deeper penetration of CNG, with its new hatchback’s release.
According to an executive of the firm, LIC can make up for the impact via other lines of business and the sale of other products.
The FMCG subsidiary of Reliance Retail bought the controlling stake in the chocolate products maker for an aggregate consideration value of ₹74 Crores.
This is majorly caused by a mixture of adopting a hybrid work model and weakening business, along with talent reallocation to Tier-2 satellite branches.
Poonam Juneja wife of the Indian pharma firm’s Chairman, Ramesh Juneja, sold the 1,200 square yard bungalow to three promoters of Everest Vacuum Pvt. Ltd.
Besides this reduced salary, Rishad Premji will also not receive his entitled 0.35% commission on Wipro’s incremental consolidated net profits for the fiscal.
The ban had been imposed due to the partial collapse of Tower D in Chintels Paradiso, Delhi on 10th February 2022, which resulted in the deaths of two women.
Citizens have requested the Department of Telecommunication to resume their mobile connections within 90 days, before they get re-allocated.
B. Prasanna, ICICI Bank’s Group Executive, stated that the banking system’s liquidity could tighten due to higher spending amidst state elections later in the year.
With this, the Japanese tech investor looks to support these enterprises in their next growth stage, helping them reach a valuation of $1 Billion (about ₹8,274 Crores).
On Thursday, 23rd May 2023, PM Narendra Modi flagged off the maiden run of the new train via video conferencing, which will travel between Dehradun and Delhi.
The firm looks to be listed before the government’s EV subsidies are discontinued. Cyril Amarchand Mangaldas will act as the legal advisor for the IPO.
According to police officials, the culprit first opened a bank account with fake documents and obtained up to five pre-approved loans worth ₹5 Lakhs each.
The Home Minister is set to participate in two key government programmes occurring in Guwahati, namely a foundation stone laying ceremony and handing job appointment letters to 44,703 youth.
Bank of Maharashtra’s (BoM) bottomline surged by nearly 126% to ₹2,602 Crores. Its Current Account and Savings Account (CASA) deposits strengthened by 53.38% as well.
Individuals can register for the process till 6 pm on June 26, on the official portals of Maharashtra Housing Area and Development Authority (MHADA).
According to the tech giant, the WhatsApp-based tool can retrieve information on various government schemes and provide it to Indians in their local languages.
As central banks hike their lending rates to lower inflation, certain economies have started to shrink. Recent data suggests that a global recession is expected to start in 2023.
Flix SE will launch its first set of inter-city green lines in early 2024. The firm hopes to establish itself as an affordable alternative to other means of transport.
For instance, firms like Tata Power Co. Ltd., Cisco Systems, Inc., and Accenture PLC, have taken up initiatives for employees’ children having dyslexia, ADHD, Down Syndrome, autism, etc.
At last week’s AWS Summit India event, the IT major said that the Centre is exploring how it can use AI to streamline various tasks and reduce manual efforts.
The automobile boasts an Indian Driving Conditions (IDC) certified riding range of 212 km per charge and features a 5kWh lithium-ion battery.
This new legislation is set to oversee a wide range of digital services, as the Central Government aims to replace the Information Technology Act, 2000, in favour of this.
Alibaba has already started informing impacted staffers about the layoffs. Also, the company is assisting them in shifting to other roles within the firm if they wish to do so.
According to an exchange filing, the insurers' net profit for Q4FY23 came to ₹2,371.5 Crores. Its sequential profit growth was 112%, while standalone net premium fell by 8.3% YoY.
Mahindra & Mahindra Limited (M&M) offloaded its remaining 3.2% stake in its subsidiary, Mahindra CIE Automotive Limited via bulk deals on 24th May 2023.
The Pune-based company will build 100 wind turbines for Torrent Power from its new 3 MW series. The 300 MW project will be set up in Karnataka in 2025.
The Ministry of Civil Aviation (MoCA) recently rolled out ‘UDAN 5.1’, which is an initiative aimed at enhancing connectivity to remote areas via a helicopter service.
The fraudsters did so by gaining access to the victim’s net banking account and applying for a personal loan of ₹2 Lakhs under her name.
Through a processing fee charged on RuPay debit cards, the lenders look to raise funds for creating payment solutions and improving network security.
According to the social media firm, this latest downsizing is part of the three sets of worldwide layoffs announced in March, to fire around 10,000 workers.
The realty firm wants to establish a 5-star property in Thane, which will include a 300-key hotel, along with residential, retail and housing units spanning 75 acres of land.
The cyberattack specifically targeted the Bangalore Water Supply and Sewerage Board (BWSSB) and the Indian Council of Agricultural Research’s (ICAR) web pages, redirecting visitors to ipln8.com.
FDIs lowered by 27.5% to $28 Billion (about ₹2.31 Lakh Crores). Meanwhile, outward flows also declined by 23% to reach $13.6 Billion (about ₹1.12 Lakh Crores).
Lenders’ deposits could rise by up to ₹2 Lakh Crores till the September 2023-end deadline for exchanging the notes, thereby helping in reducing their cost of funds.
With this, the company is looking to accelerate the shift to sustainable mobility amongst its partners. Some of them include Everest Fleet, Moove, Lithium Urban, and Zypp Electric, among others.
One of the organisation’s primary changes in its products includes the implementation of live searches from Bing to ChatGPT, whose responses originally pertained to information, as of 2021.
For this purpose, the firm founded by Narayana Murthy will hire more professionals and bet on India, which is likely to emerge as a high-quality manufacturing hub.
GQG Partners LLC is showing more interest in the financing deal now, having reaped viable returns from its investment of $2 Billion (around ₹16,531 Crores) in March 2023.
The iPhone maker plans to boost its products and services across the world by using Generative AI capabilities and compete with similar global tech giants.
A TeamLease Digital Pvt. Ltd. report indicated that this year, 2,30,000 students are projected to be hired from engineering campuses. The same may slip to 1,55,000 in 2024.
RBI Governor, Shaktikanta Das revealed that the economic indicators showed sustained momentum in economic activity in the final quarter of the last fiscal.
The credit ratings firm believes that this could be due to the country’s rapidly improving manufacturing and infrastructure sectors but expressed concerns regarding certain barriers to investments.
The company also plans to launch a new subscription option that supports ads, as it focuses on exploring new revenue sources and tackling market saturation.
The results for the Civil Services Examination of 2022 were declared on Tuesday, 23rd May 2023. Out of the top 20 ranks, 12 were secured by women.
The automobile major looks to sell 5 lakh units of the Grand Vitara, Jimny, Brezza, and Fronx this fiscal, despite their long waiting periods.
Philipp Navratil, Nestlé’s Head of Coffee Strategic Business Unit, highlighted India’s potential for growth through both in-house and outside consumption.
Deep Bajaj, Sirona Hygiene’s Founder, said that this move is aligned with their goal of expanding their portfolio of feminine care products.
Maleesha Kharwa is going to be the brand's face for its new Yuvati collection. 10% of the line-up's revenue will be donated to support the education of underprivileged Indian children.
As per sources, the Mangalore Refinery and Petrochemicals Limited (MRPL) and Hindustan Petroleum Corp. Ltd. (HPCL) merger is likely to be a share-swap deal.
Rohit Kumar Singh, Secretary of the Department of Consumer Affairs, said that this was an unfair trading practice and also a breach of customers’ privacy.
Its Profit-After-Tax (PAT) plummeted to stand at ₹751.41 Crores. The slump happened despite its total revenue from operations surging by 33% YoY to ₹11,626 Crores.
The central bank said that customers onboarded through DigiLocker and C-KYC modes will be considered risky and their accounts will face enhanced monitoring.
This will be driven by the expansions a majority of the industry's large players have planned. The range is higher than the expected 8% to 10% YoY sector growth.
A report by TeamLease Services stated that this development was majorly due to sectors like automobile, agrochemicals, agriculture, and BFSI, among others.
The firm also announced a loyalty reward for Captains, offering them ₹1 Lakh per month, which will be disbursed along with their regular monthly compensation.
Under this, customers can link their cards with their Google Pay accounts and make payments to all offline and online merchants if accepted.
The state government’s Bihar Student Credit Card (BSSC) scheme provides financial assistance to students for their higher studies and offers a maximum amount of ₹4 Lakhs to each person.
Shaktikanta Das clarified that the step would have a marginal impact on the nation’s economy since they made up only 10% of total notes in circulation.
For this purpose, the NBFC is developing a new platform where the offering will be made available within the next 6 to 9 months.
Credit card spends declined by 3.3% Month-on-Month (MoM) in April 2023 to ₹1.33 Lakh Crores. However, the same surged by almost 26% when compared to a year-ago period.
The company may slash 9,900 more jobs in the coming weeks as part of its cost-cutting measures and profitability drive. This is also in line with its acquisition of Metro Cash and Carry’s business.
The present environment may influence fintech companies to opt for co-lending arrangements with traditional lenders, while well-capitalised firms may consider acquiring their smaller peers.
According to RBI, foreign currency expenses soared by $7.5 Billion last fiscal, while overseas travel spending rose 97% YoY to $13.7 Billion in this period.
PVR INOX Ltd. will expand its operations across some Tier-2 and Tier-3 cities. It also plans to retrofit existing screens to improve their ambience, technology, formats, etc.
The company is also looking to back slum rehabilitation and redevelopment projects. It will additionally invest in stressed real estate initiatives with infusions between ₹100-300 Crores.
Edtech firms, which raised funds ranging from 100 to nearly 5,000 times their revenue in FY22, are now noting a valuation decline and bracing for a growth slump.
The target prices for Delhivery Ltd. and Zomato Ltd. were revised to ₹440 and ₹55 per unit of stock, respectively, shortly after the two firms released their performance results for Q4FY23.
According to WhatsApp, this option will give users better control over their chats, allowing them to add extra content to their messages or correct typing errors.
Prashant Joshi, Head of Consumer Banking, DBS Bank, mentioned that the credit cards are set to be added to the bank’s mortgage, personal, and gold loan portfolios.
The round was led by a major sovereign fund company. On aggregate, the EV manufacturer has raised nearly $900 Million (about ₹7,453 Crores), so far.
On 23rd May 2023, the shares of Borosil Ltd. fell by over 5%, impacted by weak performance results. Its consolidated net profit slipped to ₹22.34 Crores from ₹34.18 Crores a year ago.
The Chennai-based company claims the fund to be the country’s first-ever resource for making private credit investments in asset-backed securities. So far, it has managed to raise $106 Million (around ₹877 Crores).
Through this, car and two-wheeler manufacturers look to generate an additional EV production capacity of 20 lakh and 1.5 crore units, respectively.
India’s governing cricket body signed a five-year deal with the sportswear giant, which includes a sponsorship fee and yearly sale royalties worth ₹10 Crores.
On May 11, 2023, the body asked the exchanges to reassess and validate the non-compete clause of the union. This had initially been approved by SEBI and the two exchanges.
Nearly 3 lakh and 16 lakh government workers and pensioners from Uttarakhand and Tamil Nadu, respectively, will benefit from this. The new DA has been revised to 42% from 38% in the states.
A report from the Global Trade Research Initiative said that Production Linked Incentive (PLI) Scheme benefits could lead to competitive distortion in these sectors.
The estimated amount previously estimated to be $81 Billion (about ₹6.70 Lakh Crores) was increased to $84 Billion (about ₹6.95 Lakh Crores).
With the withdrawal resulting in stronger bank deposits and liquidity, the returns of short-term money market instruments and government bonds may decline.
The firm’s Power Transmission and Distribution (PT&D) operations under its construction division will set up the orders. It has gotten two orders in Saudi Arabia, for power transmission lines and a substation.
TCS continues to invest in upscaling its expertise in cloud technologies, to meet the demand anticipated for its new offering.
The safe, simple, and transparent platform will reportedly enable people to invest money in 3 types of bonds, namely, corporate, government, and tax-free.
This is a 39% increase from the 4.02 lakh units scheduled to complete in 2022. It will be driven by developers focusing on accelerating the pace of construction.
The firm’s transfer of European users’ data is reportedly in breach of an earlier court ruling, as mentioned by the Irish Data Protection Commission on 22nd May 2023.
Since startups fired over 25,000 employees as cost-cutting measures after last year’s funding crunch, jobseekers are now choosing firms with stable finances.
Sources revealed that all of Voot’s streaming content will come under JioCinema soon, as both platforms wait for the ongoing Indian Premier League season to end.
This decline in trade payouts made towards SIM activations and Mobile Number Portability (MNP) has potentially allowed the firms to increase their operating margins.
The aviation firm is set to commence operations over its new route to Bangkok from June 3, and to Hyderabad and Surat from July 3. People can also travel to Goa and Bengaluru from Kolkata starting June 26.
A consortium led by Tata Consultancy Services Ltd. (TCS) stated that it has obtained an Advance Purchase Order (APO) of over ₹15,000 Crores from Bharat Sanchar Nigam Limited (BSNL).
Koto Taro, Japan’s Digital Minister, stated that his country is ‘seriously’ considering the UPI system’s incorporation, and improved interoperability via mutually recognised e-IDs, starting with cooperation.
With this category expansion, the firm aims to turn profitable since these quick snacks provide better margins compared to grocery delivery.
The overall import value in FY23 fell to $27.6 Billion (about ₹2.28 Lakh Crores) from $30.3 Billion (nearly ₹2.50 Lakh Crores) in FY22, highlighting a notable slide.
As per sources, the New York-based investor could make a direct or indirect capital infusion in the IPL team, taking its total valuation to $650 Million.
Jewellers across India noted heightened footfall on Saturday, 20th May 2023, but due to strict KYC rules, there have been fewer than usual gold and silver purchases.
The body announced a profit for the first time since the pandemic period. In the past, it reported a loss of ₹803.72 Crores and ₹3,176.12 Crores in the March 2022 and March 2021-ended quarters, respectively.
This decision may also bolster money market liquidity by anything between ₹40,000 Crores to ₹1.1 Lakh Crores, even if merely 33% of the high-value notes are scrapped.
The State Bank of India further clarified, on 21st May 2023, that customers will need a requisition slip only for sums crossing ₹20,000 in a single turn.
With this, the regulatory body looks to reduce information asymmetry amongst market participants and enhance volatility management.
Countrywide Public Sector Banks (PSBs) posted their total earnings worth ₹1,04,649 Crores in the last fiscal, with 12 such lenders noting a 57% rise in their net profits.
Many local tour operators are concerned about facing a competitive disadvantage against their international peers, who will not be required to levy TCS to Indian customers and take away their business.
The company was prompted to do so by a rise in demand for Deloitte’s advisory services. Over 10,000 skilled workers will carry out operations from these new offices
This had been a tradition at the firm but was halted in FY20 due to the pandemic period’s effect on the business. IndiGo also plans on making more investments in its growth.
The central bank will likely make KYC mandatory for digital companies operating PoS terminals at offline outlets and also introduce capitalisation guidelines.
The e-bike is expected to have a riding range of 344 km per charge and a top speed of 188 kmph. It is likely to be sold at a starting ex-showroom price (Goa) of ₹3.15 Lakhs.
On 19th May 2023, indices commenced the session on a ‘green’ note with the trend continuing until the closing bell, allowing Sensex to settle at 61,729.68, higher by 297.94 pts.
As per the company’s statement, the product will allow customers to achieve capital appreciation by infusing the pooled funds in a portfolio of small cap stocks.
Paytm will offer some special privileges worth up to ₹75,000 and a Paytm First Membership to its customers as a welcome benefit.
As per the developers, they paid these charges for 100 projects under a 50% premium waiver scheme in 2021 but were unable to start work due to the pandemic.
The trust’s shares got listed at a premium of 3% over its issue price at ₹103/share on NSE and a listing of ₹102.27 on BSE over the upper band price of ₹100 during Friday, 19th May 2023’s trade session.
Ankit Agarwala, MD of PageGroup, said that the willingness to change jobs among workers is not linked to its availability, as indicated in the report.
Bhagwant Mann, the state Chief Minister, said that these were done purely based on merit. He mentioned that the police will collaborate with Google to keep them informed on scientific lines.
Jarupula Prem Kumar, a resident of Warangal district, Telangana, had worked as a test data engineer at TCS for 2 years. He knew the value of upskilling and learning about emerging tech.
The government is hoping for a substantially higher dividend to decrease its borrowing from the market and lower the fiscal deficit to 5.9% of the GDP for FY23.
According to a source aware of the development, Vavian International Ltd. is likely to offer 25% of its stake in the subsidiary via a dual listing arrangement.
A survey by Deloitte revealed that high expenses have delayed their huge life decisions, like starting a family or purchasing a home, and opt for cost-cutting behaviours like second-hand clothes or have no car to drive.
The app syncs users’ history across devices and is free to use. While it’s presently only available in the US, the chatbot will be rolled out for other countries within a few weeks.
HMD Global, the brand’s maker, stated that the two new 4G mobiles, Nokia 106 and Nokia 105, will have UPI 123PAY built-in into them, for safe and easy payments.
Abhyuday Jindal, the firm’s MD, believes that the government’s removal of export duty over steel products will help expand sales, and anticipates exports to be about 15-20% during 2023-24.
Sources revealed that the firm is developing a similar technology and so, it is trying to curb the leakage of private data by workers who use such AI tools.
The information was revealed by top officials from Walmart Inc., the parent company of the e-commerce platform, during an earnings call on Thursday, 18th May 2023.
These deals have gained renewed momentum with many being conducted in key markets such as Hyderabad, Bengaluru, Chennai, Delhi-NCR, and Pune, among others.
Ashwini Vaishnaw, India’s IT Minister, said that such a regulatory framework will only be formalised after discussing the risks these platforms pose with other countries.
The culprit, identified as Milan Jain, ran a YouTube channel which had more than 40,000 subscribers and created videos about the share market since 2019.
Sameer Batra, President and Chief Business Officer at Jubilant FoodWorks, the franchisee of Domino’s Pizza, said that they wish to serve pizzas wherever customers are situated in.
This move of the central bank is aimed at limiting the evasion of the Liberalised Remittance Scheme (LRS) limits via the use of credit cards.
The recruitment of summer-oriented service providers, technicians, marketing executives, and retailers surged by 20-25% YoY, owing to the ongoing heat wave.
The IT firm will be the energy company’s primary partner for application-based services to boost innovation and productivity and enhance digital maturity for bp.
Many firms have applied for H1B visas this year, as per the US Department of Labor data. Several of these visa holders had earlier been impacted by layoffs in the country.
In a statement, the company mentioned that ₹2,696 Crores will be payable to policies during the current fiscal, while the remaining is set to be paid on a policy's maturity via various pay-out options.
The fund financed a housing project called ‘Rivali Park Wintergreen’ in Borivali, Mumbai. This capital will be used for repaying existing liabilities and building upcoming phases.
The new proposal comes a year after talks had been suspended in a deadlock, since India had refused to lower import taxes on cars, as requested by Tesla.
Through this collaboration, both firms will work on ways to attract new customers and find ways to retain the existing audience.
By acquiring smaller financiers, banks can utilise their high-yielding and lucrative loan book to reach out to India’s under-banked segment of customers.
Prompted by the rising demand for cloud services, Amazon Web Services, Inc. stated that it plans to route $12.7 Billion (approx. ₹1.04 Lakh Crores) towards this new project.
The CEO of LIC Housing Finance, Y. Viswanatha Gowd, mentioned that they are looking to set up 25-30 new branches and build their presence in small towns in states like Madhya Pradesh and Maharastra.
RBI further advised SBI Funds Management Limited (SBIFML) to acquire the stake in the bank within the next 6 months, that is, by November 15, 2023.
At the 48th State Day of Sikkim, Shri. Prem Singh Tamang also said that the government will provide a monthly stipend of ₹5,000 to women for their 2nd child.
These executives plan to decrease their products’ prices or boost their pack weights, thereby making them more affordable, now that they are obtaining raw materials at lower costs.
Media Partners Asia, in its report, mentioned that YouTube had the largest share of this consumption in India between January 2022-March 2023 at 88%, raising its viewership to 12%.
The firm expects to record 6.5 lakh unit sales this year, which will be driven by the post-pandemic recovery in customer sentiment.
Vedanta Resources Ltd. (VRL) is in talks with global banks including Deutsche Bank AG, JPMorgan Chase & Co., and Barclays Bank PLC. The capital will be used to repay existing debt.
International Monetary Fund (IMF) First Deputy MD urged global central banks to maintain tight monetary policies, warning that any current relaxations could lead to worse measures later.
The Ministry of Heavy Industries (MHI) proposed to lower the per unit electric 2-wheeler subsidy from the present 40% to 15%.
The firm’s Annual Recurring Revenue (ARR) is considered to be significant, being a key metric for such businesses. It was nearly $20 Million (around ₹164 Crores) in 2021.
The firm is deliberating whether to infuse fresh capital into the subsidiary by diluting 10-20% of its stake or an IPO listing.
The victim, named Mihika Ghiyani, came across an Instagram page in April which claimed that Netflix is currently hiring, and spoke to its ‘Executive HR’ to eventually be duped of her funds.
Data from SBI Research revealed that sanctioned loan volume hit a new record of ₹6.23 Crores in FY23 as opposed to its earlier high of ₹6.30 Crores during FY22.
Emails regarding the same will be sent to employees on Friday, 19th May 2023, and the amount will be disbursed with this month’s salary.
From 1st June 2023, student loan indexation will stand at 7.1%, up from 3.9%. This will affect those who’ve gotten a loan through the Higher Education Loan Programme (HELP).
The Ministry of Corporate Affairs said that the revised rules related to Mergers and Acquisitions (M&As) will simplify the process and boost the overall industry.
In the 2020-2023 period, the industry is expected to have noted more than $0.4 Billion (about ₹3,296 Crores) of aggregate capital infusion.
As per the new rules, gold assets and ornaments must now feature a Hallmark Unique Identification (HUID) number to ensure the promised purity and provide a distinctive identity.
This amendment will especially concern royalty payments sent by IT and Information Technology-enabled Services (ITES) sectors, along with over-the-top (OTT) platforms.
Apparel and cotton exporters expect their businesses to surge by 8-10% YoY in FY24 as well. These traders have anchored their optimism on an improving order book and the recovery of markets.
The credit rating agency stated that United India Insurance, Oriental Insurance, and National Insurance’s financial position is delicate and became worse in FY23.
This move by the insurance regulator is expected to make the procedure more accessible and affordable for parents considering having children via this route.
Many spares and sub-systems, among others, will undergo a phased import ban from December 2023 to December 2029, to boost the defence manufacturing sector’s self-reliance.
Liquid funds accounted for nearly 60% of this value, with a net inflow of ₹63,219 Crores. Profiles with shorter maturities are expected to have benefited the most.
The stock exchange relaunched its Bankex and Sensex derivative contracts with a lesser number of Futures and Options and a Monday-to-Friday expiry cycle.
This proposal was made after the number of startups in India surpassed 1 lakh. Reportedly, the Government will also use the mechanism to help businesses amidst external headwinds.
At present, customers prefer UPI for low-value merchant payments and credit cards for high-value purchases. SBI Card’s CEO believes this will change after UPI's integration.
The company added 64 lakh subscribers in Q4FY23. Its Revenue Market Share (RMS) is expected to increase to 47% by FY26.
The 'Special All-India Drive' will be held between 16th May 2023 to July 15. In this period, tax officers will conduct mandatory verifications and take additional measures to catch defaulters.
According to the government’s consumer price index numbers released on Friday, 12th May 2023, inflation in April declined to an 18-month low of 4.7%, compared to 5.7% in March and the 6.7% FY23 average.
Due to refined margins and improved marketing, the firm’s operational revenue surged by 10% to ₹2.26 Lakh Crores while its net profit stood at ₹10,059 Crores.
The airline held its recent hiring drives from 10th to 15th May 2023, in New Delhi, Bengaluru, and Mumbai, which was attended by around 300 pilots.
In an email to all employees, he informed executives to send him a list of requests pertaining to hiring on a weekly basis and cautioned them to ‘think carefully’ before sending him these.
Bombay Dyeing & Manufacturing Co. Ltd. took loans of ₹500 Crores, ₹2,299 Crores, and ₹56 Crores from Bank of Baroda Ltd., Deutsche Bank AG, and ICICI Bank Ltd., respectively.
The diesel has the potential to allow each truck driver to save up to ₹1.1 Lakhs a year and offers fuel economy benefit of up to 4.3%, the firm claimed.
The information was revealed in the study titled ‘Decoding Digital Payments: A Retailer Perspective’, released on Tuesday, 16th May 2023.
This offering reportedly allows telecom users to block or trace their stolen/lost phones even after a new SIM card is inserted into them, among other benefits.
The discussions will involve the possibility of locally sourcing components for Tesla’s cars and could result in a notable turning point in the relationship between the two parties.
It said that completed projects will carry the ‘ongoing’ status unless both the Occupancy Certificate (OC) and the Completion Certificate (CC) have been obtained.
The firm is also considering selling its assets, including a controlling stake in its engineering firm, which could raise around $2 Billion (nearly ₹16,449 Crores), among other means.
The company’s new CEO, Margherita Della Valle said that these layoffs will take place over the next 3 years, to create a simpler and leaner organisation.
Seller fees and product return processing charges across several categories like beauty, apparel, groceries, and medicines will be hiked by Amazon.com, Inc. from 31st May 2023.
On 15th May 2023, private equity firm, Apax Partners LLP-advised funds entered a definitive agreement to purchase the stake.
China took the biggest hit because of its poor relations with the US and reduced economic growth which impacted dealmaking. The bank is expected to begin communications with affected staff soon.
Residential real-estate sales rose to ₹3.47 Lakh Crores during the fiscal year, while the sales volume surged to 36%, accounting for 3,79,095 units sold.
Berger Paints India Limited saw its consolidated net profit plummet to ₹185.7 Crores, down from a year-ago period’s figure of ₹221 Crores. However, its consolidated revenue soared by 11.7% YoY.
The multiplex operator mentioned that certain properties are either loss-making or are situated in malls that are close to the end of their life cycle with a low chance of revival.
After falling to 57.8 in March 2023, it rose in April, upheld by a viable upturn in the insurance and finance segment. Fresh export orders also noted expansion at record levels.
This layoff is a part of the start-up’s restructuring exercise. Prior to this development, the enterprise’s headcount stood at 450-500 employees.
The Indian government, however, is hopeful that Apple may manufacture Macs here, due to the revised Production Linked Incentive Scheme (PLI) for IT hardware, including increased SOPs.
Senior citizens could be employed for part-time jobs in mentorship functions and consulting roles in healthcare, education, etc., as per official sources.
Most of this will be dedicated to developing new factories, expanding the capacity of existing ones, or business expansion, such as retail outlets, according to some senior executives.
Priya Sharma, Ashish Anantharaman, and Lizzie Chapman will leave Camden Town Technologies Private Limited (ZestMoney) in the next 4 months.
Industry executives revealed that lenders are asking promoters to pledge more private holdings or for increased collaterals, in exchange for credit facilities.
Kerala’s CM Pinarayi Vijayan said that under this employment scheme, workers aged 60+ years will be eligible for pension as part of the fund, including miscellaneous financial aid.
As per official data, the country also faced one of the highest rejection rates at 18%. Slovenia, Malta, and Estonia denied the most visa requests.
In March 2023, formal job creation surged by 8.1% Month-On Month (MoM) with the addition of about 17.3 lakh fresh workers to the Employees State Insurance Corporation (ESIC).
The National Payments Corporation of India said that people will no longer have to use the Card Verification Value (CVV) and other details for online transactions.
About 77% of Indian firms will follow this trend, according to a survey of around 2,100 corporate executives, conducted by Kolkata-based, Genius Consultants Ltd.
Bhuman Dani, CEO and Founder of the start-up said that the actor’s influence shall help the firm reach out to more customers and promote conscious consumption.
Convergent Finance LLP invested a majority of this capital in the venture. The remaining amount was raised by other individual investors.
According to the bank’s website, it now offers the highest returns of 8% for regular citizens’ FDs, 8.5% for FDs of senior citizens and 8% on savings accounts.
Sohinder Gill, the firm’s CEO, added that they hope to reach up to 20 lakh two-wheeler sales in the coming three to five years before the public listing.
As per recent data available with SoftBank Corp., a median cost-cutting of 70% was recorded amongst enterprises under the Japanese firm’s portfolio.
Jio is trying to advertise its latest postpaid plans and new VR headset, while Airtel is trying to increase its 5G services’ advertisement in the tournament.
The automobile major will introduce approximately a dozen new two-wheelers, including Karizma’s return and the new model under its tie-up with Harley-Davidson.
In April 2023, the WPI fell for the 11th month in a row, while the inflation rate slumped to –0.92% from March’s 1.34%, due to decreasing commodity prices.
It is expected to allow users to book tour packages, concierge services, travel experiences, and apply for visas and travel insurance.
Speaking about the fresh round of layoffs, sources revealed around 400-500 workers will be affected across the two verticals of Amazon Retail India Pvt. Ltd.
He alleged that the culprit hypnotised and convinced him to transfer the amount to him in two separate transactions of ₹20,000 each via UPI.
At 9:40 am on 15th May 2023, the financial company’s shares on NSE were trading at ₹112.45, days after it announced a 58% surge in net profit for Q4FY23.
T. V. Narendran, MD and CEO of Tata Steel Limited said that the company sees ample growth opportunities to implement an expansion plan in its existing facilities.
A 16-member committee will be set up that will plan the courses, provide an estimate of expenses, and formulate guidelines for several skilling organisations.
On the other hand, the number of New Fund Offers (NFOs) floated in the fiscal under review was higher than those in FY22.
Dr. Rajkumar Upadhyay, CEO and Chairman of the Project Board at C-DOT, said that the system will be made operational across the country during this quarter.
Siddharth Jain, MD of the firm told The Economic Times that the investment will be funded via a mixture of debt and internal accruals.
The Insolvency and Bankruptcy Board of India (IBBI) showed that creditors realised ₹51,425 Crores out of total admitted claims valued at ₹1.42 Lakh Crores.
On the back of this operational profitability, the Mumbai-based enterprise’s parent company, API Holdings Limited has restarted funding talks.
Experts attending the two-day conference spoke on the importance of technological solutions like generative AI in improving the efficiency and scope of HR management.
Valued at about ₹2,700 Crores, the deal stated that Reliance Retail Ventures Limited will take over METRO Cash & Carry India Pvt. Ltd.'s complete real-estate portfolio and its 31 stores.
Of the 350 companies’ human resource professionals that responded to the survey, 57% said that the increments will be within the said range.
The study, called “Charting the Course for India – Tourism Megatrends Unpacked”, further states that data-driven tourism will be a major growth catalyst.
After Sensex commenced the session lower by 132.29 pts at 61,772.23, on 12th May 2023, the index managed to recover from its losses and end at 62,027.90.
While on a visit to Japan, the Finance Minister told business leaders and investors that these two areas will help India become a developed country by 2047.
The apex court said that with this, grievances previously filed by the female dental doctors, led by a resident of Coimbatore, Gopika Nair, ‘stands satisfied’.
JioCinema saw its total video views exceed the 1,300-crore mark within 5 weeks after the matches started. The average time spent per viewer per match also shot up to 60 minutes too.
Effective from 12th May 2023, the revisions will allow senior citizens to earn up to 7.75% interest. The maximum rate for the general public is reportedly 7.25%.
The platform said that both the recipient and the sender will have to be ‘blue tick’ users or part of a verified organisation to exchange encrypted messages.
During the last quarter, Disney+ Hotstar's paid subscriber base lost 46 lakh users, dropping to 5.29 crores, down from 5.75 crores in the December 2022 quarter.
In its official press release, TagZ revealed that actor, Rannvijay Singha also invested in the company and that he will endorse the brand.
The messaging platform rolled out several back-end fixes, including improvements to its ML and AI systems, after the IT Ministry threatened to send a notice.
During the period under review, the firm’s total revenue from operations ticked up by 19.1% to attain ₹3,804 Crore levels, while consolidated net profit surged ₹2,914 Crores.
Following this, Mohit Arora, MD of the firm told The Economic Times that the firm looks to gather ₹1,200-1,600 Crores from Oak Tree Financial Services LLC.
The automaker’s Executive VP, Kenichi Ayukawa, said that he wants to try his best to make Indian customers happy and work in line with realising the nation’s goal of ‘Atmanirbhar Bharat’.
While the identity of the new joinee has not been revealed, employees at the firm have discussed one of the possibilities as Marissa Mayer, Yahoo Inc.’s ex-CEO.
The group will sell shares of three of its companies and use the funds for long-term capital expenditure and debt repayments.
A heatwave warning has been issued for Mumbai for the 4th time this season and for the first time this month. Areas like Raigad, Palghar, and Thane are also included.
The credit was disbursed after the Wadia Group provided collateral in the form of fixed deposits, which were worth about ₹1,560 Crores.
The Pixel Fold comes with a price tag of $1,799 (about ₹1.47 Lakhs), while both Pixel 7A and Pixel Tablet cost $499 (around ₹40,932 Crores) each and operate on Tensor 2.
The new service will allow customers to make secure payments, using both smartphones and feature phones, for microfinance options and low-value transactions.
The investment management company owns 166,185 shares of ANI Technologies (Ola Cabs), which equates to a stake of about 0.7% in the cab and mobility startup.
After this sale, SoftBank will have about 11.17% stake remaining in Paytm or 708 crore shares. Ant Group is also considering bringing down its stake in Paytm to comply with SEBI’s rules.
Over the last 5 weeks, Royal Orchid Hotels Ltd. has seen its stock surge by 50%, rebounding by 61% after slumping to ₹232.20 on 3rd April 2023.
The pharma company’s net profit for the quarter surged from ₹87.5 Crores to ₹959.2 Crores but still fell short of the market expectations of ₹1,093.6 Crores.
Under this partnership, Cognizant will also invest in product portfolio expansion and launches of innovation hubs in critical technology centres worldwide to enable collaboration.
Data shows that the industry has around 1,000 to 8,000 white-collar vacancies, including those for administrative staff, customer engagement, and aviation engineers, among others.
At present, those with a net worth or an income below a certain limit have to infuse at least ₹1 Crore to invest in Alternative Investment Funds (AIFs).
This will be done on the basis of three poorly performing public sector general insurance firms, who were asked to pursue bottomline growth rather than topline, and only underwrite good proposals.
The firm’s vice president wrote in a blog post that the chatbot will soon display multimodal content, allowing it to answer prompts in more than just text.
Reliance Broadcast Network Limited (RBNL) can receive bids till 14th May 2023, after which the prospective resolution applicants’ provisional list will be issued on May 24.
Parenteral Drugs (India) Limited's principal outstanding loan stands at ₹398.2 Crores. However, the claim amount significantly increased due to payment defaults in 2016.
Many professionals who have been looking to quit troubled start-ups have been finding it difficult to move jobs since founders of such enterprises are cautious about hiring them.
Infosys Technologies Pvt. Ltd. saw its FII holdings slip from 43.08% to 44.57%, while Tata Consultancy Services Limited said that its foreign investor shares slumped to 12.72% from 12.94% in the March quarter.
A representative was quoted stating that Intel is focused on detecting efficiency gains and cost reductions via certain function-specific and business workforce downsizings, among others.
The company has also started making batteries through its subsidiary, PowerMetz Energy Pvt. Ltd. and aims to increase production to 175 units per day.
The data revealed that the country tops the list of 10 nations that collectively account for 60% of such deaths along with 51% of all live births worldwide.
The organisation is exploring various pathways for its debut, like selling a certain percentage of the company stake to strategic investors and raising funds via private equity.
The firm’s earnings took a hit in 2022 after spending cuts by its certain major customers, like Google LLC, Meta Platforms Incorporation-owned Facebook, and Amazon.com Inc.
The firm also stated that the potential impact on these lenders’ net worth may range between 5-20%. Some banks have revealed their probable impact to be 4-5% of loans.
Launched in Mumbai on 9th May 2023 by brand ambassador and stakeholder Suniel Shetty, the venture aims to support restaurant partners by charging zero commission fees.
Telecom service providers also blacklisted around 517 Point of Sales that had apparently resorted to illegal and unethical measures while issuing the cards.
The foundit Insights Tracker also revealed that in spite of economic uncertainties, hiring activities rose significantly in April, while the market for emerging and new jobs improved.
After securing a double upgrade from SEBI-registered stockbroker UBS Securities India Private Limited, the shares of IndusInd Bank Ltd. rallied by 1.45% to hit ₹1,156 apiece.
The JSW Group’s port operations arm has filed a Draft Red Herring Prospectus with SEBI and will utilise these proceeds to clear its debt and fund expansion projects.
This move is anticipated to help manage the rising cost of living and provide assistance to thousands of families waiting for nursing care.
On 9th May 2023, the firm announced plans to roll out new features, including RuPay Credit Card on UPI, Split Bill, and UPI Lite for iOS devices, among others.
As per the report by foundit, the country had more than 19,000 new ventures pre-pandemic. In 2022, this figure surpassed 80,000.
Deepak Mohanty, Chairman of the Pension Fund Regulatory and Development Authority (PFRDA) said that the national pension scheme offers annual returns of 9-12%.
Bharat Puri, MD of the firm, said that they will reach an EBITDA margin of 20-24%, owing to a drop in raw material costs and recovery in demand.
The precious metal closed at ₹60,850 per 10 grams in the previous trade session, while silver declined by ₹380 to ₹77,400 per kg.
According to data from S&P Global, the number of US firms that have declared bankruptcy so far in 2023 is much more than any year’s first four months since 2010.
If this potential fundraising comes through, it will be one of the biggest funding rounds in recent history amidst macroeconomic uncertainty and an ongoing funding winter.
While Open Network for Digital Commerce (ONDC) has expanded its operations to now enjoy traction of around 20,000 orders every day, about 97-98% of these orders are hyperlocal grocery deliveries.
Hiring of permanent staff sharply fell in April 2023, while costs incurred from temporary workers rose to fresh highs, a report from KPMG and REC showed.
The National Pharmaceutical Pricing Authority (NPPA) plans to cap the prices of medicines like vitamins A and C, anti-tetanus immunoglobulin, and glycerine.
Launched eight years ago, these plans include the Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana, and Pradhan Mantri Jeevan Jyoti Bima Yojana.
This regulation applies to forex prepaid cards, travel cards, and store value cards, which will come with their respective transaction and usage limits.
These lending options will help farmers and rural retailers buy Rukart’s ‘Subjee-Cooler’, which is used to increase the shelf life of vegetables and fruits.
The fraudsters asked the victim to invest large amounts of money consistently, promising to reward him with a large return, only to cut off all contact afterwards.
According to the firm’s statement, filed with the London Stock Exchange, the land located in Devanahalli was acquired for about $37 Million (around ₹303 Crores).
According to sources, the tech giant will use the sale proceeds for corporate operations, such as debt repayment, dividend payments, stock repurchases, etc.
The firm expects the economy to rebound to 6.7% in FY25 as against the 6.9% projected previously, lower than 7%, the estimate made by the agency for FY23.
This feature is anticipated to ensure greater flexibility to customers in payment options and will function similarly to linking one’s bank account to their UPI.
On 8th May 2023, the State-administered bank revealed that its consolidated net profit surged by 74%, owing to headwinds including declining provision costs and higher core income.
In the two types of such frauds, scammers may pose as representatives of popular firms to lure victims or approach them via unsolicited video calls.
Smt. Nirmala Sitharaman mentioned this at the Financial Stability and Development Council’s (FSDC) 27th meeting, held on Monday, 8th May 2023.
The payments firm, which had to register itself abroad after raising capital from Silicon Valley investors, hopes to move back and list in India.
Eateries onboarded with the government platform are offering discounts of 30%-80%, allowing customers to pay through platforms like PhonePe, Paytm and Magicpin.
This feature will utilise Microsoft’s Azure Cognitive Services and Azure OpenAI Service to drive the in-platform stack. MakeMyTrip plans on expanding this feature to Indian languages.
Co-Founder and CEO of Truecaller International LLP, Alan Mamedi revealed that the service is presently in its beta phase and may roll out globally later this month.
After the deal is closed, it will boost Milky Mist’s valuation to around ₹7,000 Crores. Negotiations between the two parties have reportedly been going on since 2022.
The firm’s shares opened at ₹1,300/equity share on BSE, which is over 20% or ₹280 higher than its IPO price of ₹1,026-1,080/share, during the trade session on Tuesday, 9th April 2023.
Several corporate sectors are hiring such people believing that these individuals can be quickly onboarded and assume key roles even with little guidance.
The private equity firm will bet on companies that are contributing to the increase in technology usage and expansion of financial inclusion.
The airline has also informed that the acceptance of the release dates and VRS applications will be subject to the management’s discretion.
As per estimates, 1.37 lakh vehicles were sold to cab service aggregators in FY23, which is an increase of 95% from the figure noted in FY22.
At a consultation with stakeholders, SEBI proposed that the reimbursement procedure of unclaimed assets could be based on RBI’s Depositor Education and Awareness Fund (DEAF).
As of 31st January 2023, the US-based investment management firm set the value of the delivery company’s shares at $3,305 (around ₹2.7 Lakhs) apiece.
To successfully obtain this visa, applicants must first spend a minimum of $800,000 (approx. ₹6.54 Crores) on creating 10 or more employment opportunities.
In a letter addressed to employees, the firm’s CEO highlighted that this move will feature job cuts in support, sales, and operation teams, and is being done to streamline its operations and make quicker decisions.
Exposure of such funds to Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) has considerably increased since the pandemic struck in 2020.
Delhi-NCR region reported a 216% high-end housing unit sales growth in Q1 2023 as against the year-ago period. Hyderabad noted an 800% rise, while Kolkata surged by 100%.
This result is considered to be the firms’ worst performance since the April-June period in 2020. Their cumulative net profit rose by 47.6% YoY in FY22’s fourth quarter, and by 3.4% during Q3FY23.
Around 87% of respondents said that upskilling programmes have helped them gain skills with training, which will boost their careers.
According to economists, RBI’s higher earnings will help balance the risks in tax revenue collections seen due to slower nominal GDP growth than expected.
At a media interaction, Baldev Prakash, MD and CEO of J&K Bank, revealed that this development was observed during the Union Territory (UT) government’s landmark schemes.
The investment class has managed to register this figure within 18 months of being introduced in India by SEBI, the market’s regulator.
The organisation’s paper mentioned that when India’s Digital Public Infrastructure (DPIs) are used together, they enable cashless, paperless, digital, and privacy-oriented digital access to multiple services.
The start-up was looking to raise more funds, while BetterPlace was aiming to enter the lending segment, a person aware of the matter revealed.
The venture capital investor’s fourth fund for technology-led start-ups includes assets under management worth over $750 Million (about ₹6,132 Crores), as per company officials.
The fintech company’s overall revenue ticked up to hit ₹2,335 Crores. Its net losses slipped to ₹168 Crores, down from standing at ₹763 Crores in March 2022.
Here, such personnel come with vital skills like leadership, integrity, teamwork, accountability, problem-solving, and risk management, among others, which firms are on the lookout for.
In FY23, a 47% YoY net profit growth was charted by the firm, which surpassed analysts’ estimates. It stood at ₹558.6 Crores, as against the ₹498.4 Crores noted in FY22.
Nuvama Institutional Equities and Kotak Institutional Equities have maintained their respective ‘reduced’ and ‘sell’ ratings on the stock, with unchanged prices.
The sale is being done as part of its attempt to further build capacity and create a nationwide presence for itself to enter into competition with its larger rivals.
International reinsurers have hiked their rates by about 40-60%, after being impacted by Europe’s geopolitical conditions and global weather-related setbacks.
The Chairman and MD of Daikin Airconditioning India Private Limited said that they look to turn India into a production hub for its African and Middle Eastern markets.
The CEO of International Business Machines Corp. (IBM) told Bloomberg that automation and AI may replace 30% of the total jobs in the next 5 years.
The regulator has drafted a proposal to impose higher responsibility on senior insurers’ management regarding the design and acceptance of media campaigns.
At present, these properties are deemed as a part of the builder’s inventory, subject to resolution under the Insolvency and Bankruptcy Code (IBC), 2016.
According to CNBC, the iPhone maker is in a better position, unlike its rivals, since it did not conduct hiring sprees during the COVID-19 pandemic.
In a conversation with The Economic Times, Sushant Dash, the CEO of the firm, said that the company will achieve this via menu innovations.
The SonntagsZeitung, a Swiss newspaper revealed that most of these surplus wages, which were not shown on the firm’s annual reports, had started back in 2008.
This can be attributed to tailwinds such as easing inflation, premiumisation of certain categories, and urban customers’ rising ability to afford price hikes.
The gaming industry has been charting out plans for a self-regulator under the Ministry of Electronics and Information Technology’s (MEITY) proposed guidelines in April 2023.
Athena Enhanced Equity Fund is the 2nd such scheme under the Trust Group’s fund, which uses a core-satellite approach to improve equity investment returns.
The revisions will now take into the act's jurisdiction all transactions facilitated by Chartered Accountants, Company Secretaries, along with Cost and Works Accountants.
Domestic Institutional Investors (DIIs), retail investors, and High-Net-Worth-Individuals (HNWI) share on NSE exceeded 25% for the first time, in Q4FY23.
During Friday’s session, on 5th May 2023, the market recorded its highest single-day low within the past two months, forcing Sensex to settle at 61,054.29.
Vidit Aatrey, Co-Founder and CEO of the company, informed the staff members of the decision to let go of 251 employees in an e-mail on Friday, 5th May 2023.
According to an open letter by the telco to P. D. Vaghela, Chairman of TRAI, this solution will feature an anti-spam filter that is capable of blocking about 20 lakh messages each day.
This 50-50 joint venture project by the two firms will be set up at Thaiyur. The housing society will occupy an area of around 2.7 acres and comprise 250 homes.
Security agencies busted a gang of fraudsters after the Pune-based, Southern Army Command’s Military Intelligence (MI) unit received intel on the matter.
Through the initiative, Ather Energy Pvt. Ltd. and Ola Electric Mobility Pvt. Ltd. want to support the growth of India's EV ecosystem, boost customers’ trust, and add value.
As per government sources, these changes will help the country tackle climate change. Meanwhile, they do not apply to the units that have already been approved or are in development.
Through this move, the parent company, RPSG Group is looking to establish a stronger presence for itself in the FMCG segment and achieve ₹100 Crores in sales during the first year of launch.
Highlighting the prevalent problems in the IT industry, Ravi Kumar S., the firm’s CEO, added that they will also give up office space of several lakh sq. ft.
While the S&P Global India Services PMI Business Activity Index appreciated to 62, surging from 57.8 in March, India’s unemployment rate hit its 4-month high of 8.11% in April.
The firm’s net profit grew to ₹939 Crores and its consolidated revenue rose to ₹12,755 Crores, up by 6%. Meanwhile, its consolidated EBITDA hiked by 38% to ₹3,101 Crores during the quarter.
As of early 2023, nations saw lower disruptions in the provision of routine health services. They also noted a need to further invest in medical system recovery for the future.
Through this initiative, HDFC Bank looks to attract roughly 1 lakh new customers and double its business in these regions.
As per an exchange filing, Google’s CEO, Sundar Pichai’s annual wage rose to about $226 Million (around ₹1,847 Crores), over 800 times more than the firm’s average employee salary.
The company has received certification from NPCI, becoming the first app in India to offer such a service. It will be done via the issuance of RuPay credit cards in association with banks.
Cristiano Amon, the firm’s CEO, explained that they are undertaking these cost-cutting measures and streamlining operations to cope with reduced sales.
An announcement on the theme park’s website revealed the news early in May 2023. Nostalgic citizens took to social media, lamenting Essel World’s shutting down.
Unity Technologies, Inc. announced plans to hand out pink slips to around 8% of its workforce as it undergoes ‘corporate restructuring’ to ensure long-term growth and profitability.
As per its statement on 4th May 2023, the firm claims to have become India’s only revenue-based alternative funding and financing platform to get an NBFC license.
The central bank has carried out the fastest rate hikes till date, increasing it 10 times since March 2023. It aims to bring down inflation to under 2%.
IT associations believe that this may be due to the interest in earning quick money and a lack of awareness amongst software engineers despite being well-trained and educated.
Samast Technologies Private Limited (Magicpin) achieved this feat through its own seller portal and those of other start-ups.
As per industry estimates, the SUV segment is likely to see a surge in its overall market share from the present 43% to 48% by the end of FY25.
About $37 Million (nearly ₹302 Crores) was pooled via equity with the remaining $5 Million (approx. ₹40.85 Crores) being secured through venture debt.
The ministry explained that the extra sum of 1.16% will come from the existing 12% employers’ contribution, adding that it will ease the pressure on employees.
Companies in non-tech fields are also increasing staffing in order to steer clear of the impact of the shifts in their industries. However, there is more demand for talent in India than supply.
The firm’s COO, N. Ganapathy Subramaniam, said that they could integrate this generative AI solution with their MasterCraft platform for low-code software development.
Bain & Company mentioned in its report, called ‘Future of India Retail Payments’, that growth in merchant payments will be led by increased awareness, and an improvement in UPI’s merchant acceptance, among others.
Owing to lower costs of administration and a considerable rise in other inflows, net profit surged to hit $580 Million (approx. ₹4,739 Crores) during the period under review.
These Indian firms saved around $500 Million by laying off workers and about $200 Million by cost-cutting in sales bonus/commission, variable pay, etc.
This partnership is anticipated to provide new opportunities for transparency, immutability and decentralisation within the entertainment and media industry.
Co-working spaces share in the market hit 27% in Q1 2023 from being at around 14% in Q1 2019. Housing sales in Bengaluru, Chennai, Ahmedabad and Delhi-NCR shot up by 12% as well.
The aggregate volumes rose by 59%, while the cumulative value of payments made stood at ₹14.07 Lakh Crores as it surged by about 43% YoY.
Owing to strong demand for SUVs and trucks, the company logged robust revenue and profit figures. However, growth was weighed down by its EV unit's losses.
The outstanding rose by ₹45,866 Crores to ₹1.94 Lakh Crores last fiscal, highlighting the surge in discretionary spending by consumers through unsecured loans.
This surge was fuelled by an increase in personal loan disbursals, along with credit provided to the services, and agriculture and allied activities sectors.
Victims were asked to do tasks such as liking and subscribing to content on YouTube or Instagram and invest their money subsequently. They were asked to start with small amounts, and got returns, initially.
The recent grounding of over 50% of its aircraft has forced the airline to file for voluntary insolvency before the National Company Law Tribunal (NCLT).
Sources revealed that the decision was taken after the RBI dictated that Credila must be either merged with HDFC Bank or HDFC or be sold off to other parties.
As part of the arrangement, Airtel is set to obtain a stake in Dialog, which will represent the fair value of Bharti Airtel Lanka, its wholly-owned subsidiary.
Engineers at Samsung uploaded an internal source code to ChatGPT, which led to the data being accidentally leaked. The firm notified employees of the ban on 1st May 2023.
The man stated that he was conned by a woman named Chen Erin who promised him a profit of ₹20 Lakhs if he invested in a trading firm based in Malaysia.
The firm also recruited 2,000 delivery executives, boosting job opportunities in the gig economy, while offering efficient last-mile deliveries.
The sharpest uptrend in real estate prices was reported in Bangalore, where the average rate appreciated by 10% over the past year.
The firm’s AUM rose YoY by 27%, as of 31st March 2023, amounting to ₹82,770 Crores. This was mainly due to continued growth in rural demand.
Decisions regarding the matter will be taken based on the demand, supply, and market condition, the President of the Asian Development Bank (ADB) mentioned.
The firm looks to pause hiring for roles that could be replaced by AI, majorly in back-office functions like human resources, which will be slowed or suspended.
Speaking on the OTT vs theatrical release debate, Ajay Bijli urged stakeholders to try and ensure that theatres remain the key source of film monetisation.
According to sources, Fortress Investment Group, the digital media disruptor’s debtholder, could end up controlling the firm in case of such an event.
Some potential backers include Standard Chartered PLC, Barclays Bank PLC, Apollo Global Management, Inc., Farallon Capital Management, L.L.C., Värde Partners, Inc., etc.
People familiar with the matter said that senior managers are likely to fire around 5% of staff, as the bank tries to survive a prolonged deal-making slump.
This has been attributed to the robust demand in the market, particularly in the Sports Utility Vehicles (SUVs) segment. Meanwhile, retail sales growth stood at 3.5%.
The World Economic Forum (WEF)’s ‘Future of Jobs’ report also stated that the leading roles for industry transformation in India will be data scientists, analysts, and specialists in AI and ML.
This new product was integrated into the official mobile application of Myntra, due to which the app was inoperative for nearly 11 hours on 1st May 2023.
As per a private monthly survey, this was led by robust growth in new businesses, moderate price pressures, and a better supply-chain environment, among others.
Likely processed at an enterprise value of about ₹5,000 Crores, the deal involves 4 luxurious commercial properties situated near Gurugram, the Delhi airport, and Ludhiana.
In its reply to an RTI query, Railways stated that it had withheld the concessions of around 8 crore senior citizens from April 1, 2022, to March 31, 2023.
The cloud-enabled grocery delivery venture sold products like Coca-Cola Cherry, locally made kombucha, and methi khakhra sourced from Gujarat, among others.
The Naukri JobSpeak Report showed that white-collar job demand stood at only 2,715 vacancies. In total, the platform noted 2,863 postings compared to last year.
The demand for talent has increased as firms look to renew their bets in the passenger vehicle segment with India emerging as a leading market.
After failing to recover its gains last week, Sensex managed to reclaim the 60,000 level. The index continued this momentum to end above 61,000, on 28th April 2023.
Disbursals under the Pradhan Mantri Mudra Yojana (PMMY) rose from ₹38,000 in FY16 to ₹72,000 in FY23, a report by SBI Research revealed.
The billionaire’s net wealth rose to over ₹7.14 Lakh Crores, after Meta Platforms, Inc. reported surprisingly strong first-quarter sales on 26th April 2023.
Under ‘Policybazaar for Business’, the firm looks to adequately insure every domestic enterprise through customer-centric processes and digitalisation.
Juned Beg allegedly got popular Instagram accounts blocked on purpose. He would later approach users, stating that he will get their accounts unblocked for a fee.
Oravel Stays Limited (OYO) ended the quarter with ₹90 Crores of cash flow surplus, while the cash corpus of the firm on the balance sheet stood at ₹2,700 Crores.
The same slumped by 0.4% YoY to ₹3,074 Crores, down from the ₹3,087 Crores noted a year ago. However, its revenue from operations soared by 11% YoY to hit ₹23,190 Crores.
The flagship module, called Banking Pro, will equip graduates with competent modern skills and make them highly sought-after recruits from the BFSI industry.
Details about Sudhir Mishra, the trainer, emerged after the arrest of four people on 25th April 2023, in connection to the robbery of ₹39.58 Lakhs from an ATM.
The man is accused of having sent morphed videos and photographs to women via fake accounts on Instagram, blackmailing them for money.
The California-based company has become the latest tech enterprise to try and increase its presence in the growing AI industry with new offerings and products.
Anchorage Technologies Pvt. Ltd. (branded as Tickertape), laid off 30% of its staff as a part of its corporate restructuring process to become more financially sustainable.
The firm is looking to incur aggregate pre-tax costs of around $100-120 Million (about ₹817-981 Crores), comprising employee-related expenses of $75-85 Million (around ₹613-695 Crores).
Within the January-April 2023 period, a total of 2,96,213 citizens were fined for violating traffic rules in Chandigarh and 1,43,802 were charged for jumping the red light.
A statement from the Uttar Pradesh State Road Transport Corporation said that foreign criminals hacked into the portal at around 2:00 am on 27th April 2023.
This is considered to be a notable development as it will let users access popular movies and shows like Game of Thrones, Lord of the Rings, and the Harry Potter TV series, among others.
NPCI International Payments Limited recently signed a definitive agreement with PPRO Financial Ltd., to allow cross-border trade via UPI.
The company is set to incur a cost of ₹80.3 Crores for these devices to staff members. This benefit is not applicable to its marketing, sales, and other personnel.
The automobile giant posted a profit of ₹2,624 Crores for Q4FY23, as against the ₹1,839 Crores noted in the same period last year.
Kresha Gupta, became one of India’s youngest female investors with this Category II Alternative Investment Fund (AIF) called ‘Chanakya Opportunities Fund I’.
Companies like BYJU’S, GoMechanic, Unacademy, and Ola sacked a considerable portion of their workforce, while senior executive hiring activities fell by almost 80% in March.
With a revenue of $28.65 Billion (about ₹2.34 Lakh Crores), the company has managed to beat the Wall Street forecast of $27.65 Billion (around ₹2.25 Lakh Crores), according to Refinitiv.
The company said that it would no longer support Halo services from July 31 and give a full refund to all users who bought the devices in the past year.
It rose from ₹2,419.51 Crores noted in the year-ago period to ₹3,157.79 Crores in the period under review. The firm’s PAT for the entire FY23 grew by 64%.
The institute raised its investment to $300 Million (approx. ₹2,457 Crores) in Biocon. As per the new terms, the latter will get access to 10 crore vaccine doses annually.
Under this, the chatbot will neither record the users’ conversation history nor use it for enhancing its AI, the OpenAI LLC. revealed.
This feature is anticipated to enable further ease in shopping and discoverability on the company’s platform. It will also provide support for searches made in ‘Hinglish’.
The victim came across the online portal of a marketing and advertising firm in January and started investing ₹200. Initially, he also got minor returns each day, before getting scammed.
The companies cumulatively added 68,886 employees on a net basis in FY23, compared to the 1.97 lakh recruited in FY22.
The Corporate India Risk Index states that domestic firms’ risk profiles have considerably improved owing to better management and government policies.
The company has opted to enrol its employees into existing schemes, across all experience levels, to offer them a chance to raise their wages.
Towards the end of 2022, the share of hotel rooms located in Tier-II and III cities soared to account for 38% of the net inventory, up from the 33% registered 4 years ago.
In this fresh move, PhonePe looks to purchase the technology stack of the lender and possibly onboard 150 employees of the latter.
The company saw a 12% jump in revenue from operations to ₹8,905 Crores in this period, while its revenue fell by 4% from the ₹9,315 Crores noted in Q3, on a sequential basis.
Alphabet Inc.’s net profit stood at $15.05 Billion (about ₹1.23 Lakh Crores) against the $16.44 Billion (around ₹1.34 Lakh Crores) noted during the year-ago period.
It increased to ₹268 Crores, as against the ₹217 Crores reported in the same period last year. Revenue increased by 14% YoY from ₹3,175 Crores to ₹3,619 Crores.
This move is also being done as part of the company’s restructuring efforts and is anticipated to bring down its annual costs by about $900 Million (about ₹7,376 Crores).
According to a report by Billion Careers Pvt. Ltd., up to 57,11,154 vacancies were noted till the month, mainly in security service, HR, and admin jobs.
This is after the lender received its Board of Directors’ approval to gather around $2 Billion (about ₹16,394 Crores) this fiscal, through overseas debt issuances.
The company announced that its gross revenue in Africa, the Middle East and South Asia (AMESA), comprising India, surged by 1.49% to $1.01 Billion (approx. ₹8,279 Crores).
The Upskilling Trends in India for 2023 report analysed global trends that are influencing individuals’ choices on upskilling, based on maximum demand for courses in certain regions.
For instance, queries for Bengaluru Development Authority's 2-phased project in Komaghatta saw a 40-50% rise in inquiries, as it is close to the Kengeri metro station.
According to the entertainment giant, this is part of a larger companywide reorganisation setting, through which it aims to cut costs by $5.5 Billion (around ₹45,066 Crores).
Matt Hicks, the CEO of Red Hat, notified employees regarding this via email, stating that this decision was necessary for them to compete within a new environment.
According to a report by Jefferies, two-wheeler wholesales rose YoY by 19% to 1.6 crore vehicles, after a slump of 10% in FY22, 13% in FY21, and 18% in FY20.
It noted its biggest single-day rise in over a year before closing at a 3-month high of ₹546.15 per equity share on the NSE.
The state’s Chief Minister, M. K. Stalin, made the announcement, adding that they will properly examine the opinions expressed against the bill and act accordingly.
The capital market firm has offered to buy Getty Images’ shares in a cash deal of $10 per unit, which means a premium of about 98% to the stock’s previous close.
The firm aims to add another 1,200 e-buses for both inter and intra-city travel, while also setting up the required charging infrastructure.
The Uttarakhand Government, however, is no longer accepting pilgrim registration applications since the IMD predicted heavy snowfall to continue at the site.
In a circular, the central bank mentioned that this decision was taken after conducting a review, as part of the new framework.
CRISIL Ratings Ltd. stated that mall operators will also benefit from robust retail sales, with up to 95% occupancy and 4-5% increments in contractual rents.
This includes solar power projects with an aggregate capacity of 185 MW, spread across Madhya Pradesh, Karnataka, and Rajasthan.
These will help capture the details of migrant workers’ family members and provide them with the benefits of women-centric and child education schemes.
Private Equity (PE) firms like the Carlyle Group, and investors like Kisetsu Saison Finance India Private Limited, wish to buy up to 49% stake in the company.
Nomura Holdings, Inc. stated that an expected drop in GDP growth to 5.3% and reduced inflation levels in FY23 are the key reasons for low bank credit growth projections.
In March 2023, the insurer held a market share of 62.58%, in terms of its collected premium. It also achieved the highest individual category premium, exceeding the ₹10,000 Crore level.
Under this, Ipca Laboratories will purchase 2,35,01,440 fully paid-up shares from one of Unichem Laboratories’ promoter stakeholders at ₹440 per unit.
Through this, landlords look to recover the losses that they incurred, when they offered discounts to the tenants over the last 2 years.
This forecast is only for the ongoing month and not the whole year. As the company looks to turn profitable, it’s been under pressure to cut its monthly cash burn.
Furthermore, smartphone shipments fell by 30% YoY between October-December 2022, and by 18% YoY in January-March 2023, as per Counterpoint Technology Market Research’s latest data.
Sometime after the news was spread, MPSC issued a notification confirming the breach. However, it said that the incident will not impact the scheduled exams.
An analysis of Karnataka’s districts across various metrics revealed this gap between the richest and poorest districts. In FY22, Bengaluru Urban’s average income came to ₹6.2 Lakhs, while it was ₹1.2 Lakhs in Kalaburagi.
The firm has already integrated new technology systems in certain key areas, while some are in the advanced stages of deployment.
This transaction meant a payment of over 5,000 Dirhams (about ₹1.11 Lakhs) per sq. ft., which is a new record, according to Knight Frank LLP.
The bank plans to raise funds via means like a follow-on public offer and qualified institutional placement, among others, as per the meeting held on 24th April 2023.
This is the second time this year that investments were noted below the key $100 Million (about ₹820 Crores) mark, due to a lack of fundraising activity.
An official with knowledge of the matter stated that the proposed policy will offer more credit and improved infrastructure to local traders, along with a grievance and consultative redressal mechanism.
Iron ore contributed the most to the aggregate turnover at ₹3,607 Crores, while coal followed close at ₹3,336 Crores.
The techie earned around ₹40,000 per month at Infosys. Now, his income amounts to ₹80,000 and he is provided with free accommodation by his employer.
The firm’s MD and President revealed that it's second offering will launch next month. From May, it will introduce Comet, a two-door EV, in a phased manner.
This was observed after workers protested the firm’s recent pay structure changes, causing many stores in Delhi, Noida, Faridabad, Gurgaon, and Ghaziabad, to go dark.
As per Colliers' report, this figure shows the resilience of the domestic commercial office market. Also, current demand and new supply have aligned, leading to stability.
Jane Lin-Baden, CEO of Publicis Groupe APAC, noted that their Indian operations have seen continued momentum in 2022, and the country is a key engine for growth.
Hardeep Singh Brar, the Vice President and Head of Marketing and Sales at Kia India, said that the firm has no plans to launch sedan offerings in the domestic market, as of yet.
While the card payments firm has stopped this service, it disclosed that the company is currently working on a more evolved version of network authentication.
The company will announce its financial performance for the March-ended quarter and the whole fiscal, along with the buyback announcement, on 27th April 2023, the meeting’s final day.
The Clothing Manufacturers Association of India (CMAI) revealed that this surge was driven by price hikes, even when the market noted a 3% drop in sales volume.
This is Wipro's 14th acquisition in the country’s FMCG sector after entering the business last year with an aim to become a notable name in the market.
On 17th April 2023, domestic indices snapped their 9-day winning streak with Sensex falling below 60,000 by 690 pts. After Friday’s marginal gains, the index failed to recover from its dropped level.
The ‘Cyber Champ’ initiative will attract students from over 80 schools, who will receive training to tackle the growing number of cybercrimes in the city.
After this change, any non-government entity that wishes to use Aadhaar authentication will have to first submit a proposal to the concerned department/ministry.
According to the 2nd edition of the Pearson Skills Outlook, titled ‘Employee View’, 92% of workers utilise upskilling options offered by their employers.
Many states like Uttar Pradesh and Tamil Nadu may amend their labour law policies to allow for flexibilities like 12-hour shifts, and night-time work for women.
After around a year of staggered talks, TPG and Max signed an exclusive deal over bilateral negotiations with a potential valuation of ₹5,500-6,500 Crores.
The Centre has proposed building 52.8 lakh houses under the Pradhan Mantri Awas Yojana - Gramin, which will allow it to achieve the overall target of 2.95 crore constructed homes in FY24.
Capital market firm, CRISIL Ratings Ltd. said that this figure will rise to ₹35,000 Crores this fiscal, due to a surge of students going abroad for higher education.
The Himachal Pradesh Government’s new levy on water usage could affect firms by making their functional projects more expensive. This will result in additional cost implications for end users.
The company’s target of hiring 30,000 freshers was also missed, with only 26,734 candidates recruited in the last fiscal. For FY24, it plans to employ 15,000 freshers.
The firm will prioritise joint ventures with partner companies, similar to its other markets in South Korea and Australia. It has also set up a lending origination platform for Asia Pacific.
Market research firm, Canalys said that the country recorded 3.06 crore units of shipments in this period, compared to the 3.82 crore units shipped in Q1CY22.
Rajeev Chandrasekhar, the IT Minister, is positive that the partnership between Apple and India will allow for significant headroom in investments, jobs, growth, and exports.
The Finnish consumer electronics maker reportedly earned around ₹7,680 Crores in this period, boosted by the continued 5G network expansion in the country.
Fresh subscribers under the Employees’ Provident Fund Organisation (EPFO) dropped to 13.9 lakhs in February 2023. A month earlier, 14.8 lakh members had joined the fund.
The U.S. Department of Labor data showed that the 4-week moving average of the claims fell by 500 to 2.39 lakhs. Moreover, 18.66 lakh people received these benefits by 8th April 2023.
Raaj Kumar Anand, Delhi’s Labour Minister, claimed that the region's skilled, semi-skilled, and unskilled labourers now earn the highest wages compared to other Indian states.
The takeover is expected to be completed by 31st July 2023. All the firms involved have already signed a definitive agreement for the acquisition.
It took around 6 hours for the officials to count all the sim cards. Of these, around 16,000 belonged to India’s major cellular service providers.
In light of this news, the share prices of the company surged by 19.97%, hitting the upper circuit. It rose to ₹80.2 per equity unit.
The report by Prodigy Finance mentioned that Lucknow and Vijayawada contributed majorly to this in 2022, with an uptick of 91% and 185%, respectively.
A company representative stated that the global sentiment, at present, is more focused towards efficiency, rather than on growth.
Despite noting a sharp decline of 4.5%, Bitcoin recovered some of its losses to trade at $29,175 (about ₹24.11 Lakhs), as of 9:50 AM, in London.
Lenders like ICICI Bank Ltd., SBI, and HDFC Bank Ltd. are trying to attract new customers by offering special home loan rates of 9%, 9.15%, and 8.5%, respectively.
This move is anticipated to make the process of obtaining documents pertaining to lease rental agreements, land deeds, and related legal formalities, much easier, according to officials.
These tests will have a negative marking of 0.25 for each question answered incorrectly. Those who fail to score at least 60% will be terminated immediately.
This collaboration will enable the development of Japanese construction equipment firms in India, through requirement-based credit facilities to downstream and upstream companies.
Alongside this amount, the healthcare firm’s Managing Director, Dilip Surana, paid a stamp duty fee worth more than ₹3.36 Crores.
These will be equipped with around 5,000 beds, over 2,000 ventilators, 37 Pressure Swing Adsorption (PSA) oxygen and 62 liquid medical oxygen plants.
Sukhmal Kumar Jain, Director (Marketing) at BPCL, stated that his organisation is in talks to build wind and solar power facilities across Madhya Pradesh, Maharashtra and Uttar Pradesh.
This app has a target of six lakh transactions, including one lakh auctions and loan applications for these properties. It will also act as a repository for data, information and documents.
The firm’s CEO also informed that its Spotlight feature noted a 175% YoY growth last year, in terms of time spent on the application by India-based users.
A report by Bernstein Autonomous LLP revealed that this was due to a series of issues that were mainly centred around the integration/execution of Spoton Logistics Pvt. Ltd., its acquisition in 2021.
This growth was witnessed even amidst the rising inflation in the US, geo-political pressures, and the lockdown in China that lasted for nearly 6 months.
After Netflix tweaked its pricing strategies and offered different customer-centric plans, its engagement rate soared by almost 30% YoY, with revenues rising by 24% in 2022.
As per Tata Motors Limited’s official statement, the cause of the fire was a repair job done by an unauthorised workshop, leading to a short circuit.
According to the Ministry of Consumer Affairs’ Secretary, this model agreement will protect homebuyers from potential risks and act as a seamless grievance redressal mechanism.
The firm’s employees will be let go from 20th June 2023, while those based in New Jersey and New York will be sacked starting July 17.
In Q1FY23, Indian start-ups raised $2 Billion (about ₹16,426 Crores), 75% lower than the year-ago period, information released by CB Information Services, Inc. showed.
The firm’s performance surpassed Wall Street’s Q1 estimates. However, it still offered a lower-than-expected forecast on Tuesday, 18th April 2023.
The World Trade Organization (WHO) ruled that the import dues levied by the nation on certain IT products are not consistent with the norms of world trade.
The new rate will now be ₹6,400/tonne, with effect from 19th April 2023. With this, the Centre will obtain a share of the super-profits earned by producers as international prices surge.
Meta sent people managers a memo on 19th April 2023, informing them to prepare for more layoffs. This decision is in line with the founder’s goal of achieving greater efficiency.
This move will affect thousands of roles, including 15% of its staff in the entertainment division. It will also impact positions in its film and TV units, corporate, and theme parks.
On the other hand, the firm noted a 2.4% jump in its operational revenue. It increased from ₹448.79 Crores in Q4FY22 to ₹459.59 Crores in the period under review.
An official confirmed that the Wadia Group is neither going to exit the business nor offload its stake in the airline. Instead, it plans to infuse more capital into the budget carrier.
The Minister of State for Electronics and IT (Mos IT) informed that 70% of these workers consist of women, aged between 19-24 years.
TaxBuddy’s Founder believes that a person may face some difficulties if they choose two different regimes for Tax Deducted at Source and Income Tax Returns.
According to the payroll data on the Employees’ State Insurance (ESI) Scheme, about 11,000 new organisations were registered under the programme, during the month.
So far, 100 G20-related meetings have been held in Pune, Jodhpur, Chennai, Bengaluru, Khajuraho, and Kolkata, which have been attended by more than 12,300 delegates.
Savills Property Services (India) Pvt. Ltd. revealed that only $45 Million (about ₹369 Crores) had been invested in Indian real estate, owing to ongoing economic and geo-political challenges worldwide.
The forecast regarding the Mahatma Gandhi National Rural Employment Guarantee Scheme was made against the backdrop of improved economic activities.
Mike Hankey, Consul General at the U.S. Consulate General Mumbai, stated that they sent 1.25 lakh Indians to study in the US in 2022, and are looking to increase this number in 2023
The victim reportedly came across a helpline number online and spoke to a fake customer service executive, who directed him to download an app, to extract funds from his account.
Tim Cook, the tech giant’s CEO, also greeted a large gathering of people and customers outside the outlet and stated that the energy he witnessed in Mumbai was incredible.
The new chatbot, called TruthGPT, is a maximum truth-seeking AI that will attempt to understand the universe’s nature. Musk believes that it’s unlikely to bring harm to people, as a result.
By the end of March 2023, the company had disbursed about ₹26,328 Crores worth of home loans, as against the ₹17,505 Crores noted in the year-ago period.
A report by Nuvama Wealth and Investment Ltd. revealed this data. The bank also noted an 8% improvement from FY23’s third quarter.
In FY23, net inflows into gold Exchange-Traded Funds (ETFs) fell sharply to ₹653 Crores. It had earlier provided returns of 14% in FY23.
With a slowdown in the job market and mass layoffs by firms, the IT giant looks to retain more of its employees through this move.
Maharashtra’s Chief Minister believes that the employment drive will sharpen the focus on works related to major ongoing projects in the city.
On 17th April 2023, the Ministry of Commerce and Industry revealed that the rate lowered to 1.34% in March 2023 from the 3.85% in February.
On 3rd April 2023, the company reported a network security incident that disrupted customers’ access to its My Cloud and SanDisk services, causing significant outages.
In March, it hit an all-time high of ₹1.37 Lakh Crores, with consumers using the payments tool for both discretionary and non-discretionary spends.
In phase one, 30 development entrepreneurship development centres and 4 incubation centres will be established at colleges and universities across the North East region.
The Foundation and Alliances Taskforce under the Startup-20 Engagement Group will establish a uniform terminology for the start-up ecosystem.
At the recent UP Police cyber wing review meeting, the chief minister also informed that the department would receive its own administrative building to improve operations.
The industry shipped products worth $23.6 Billion (approx. ₹1.93 Lakh Crores), propelled by the surge in mobile phone shipments.
Indian regulators may use this development to position the country as a possible alternative for affected businesses to consider.
A new research, called ‘Tracxn Geo Quarterly Report: India Tech - Q1 2023’ stated that Indian start-ups generated $2.8 Billion (about ₹22,944 Crores) in Q1 of 2023.
Chief Operating Officer (COO) of TCS, N. Ganapathy Subramaniam said that the way this merger has been structured by the regulators has brought stability.
In the period between January to April 2023, 54 individuals succumbed to the disease, of which 38 belonged to the 60-plus age group.
The firm’s consolidated net revenue also improved by 20.3% to ₹34,552.8 Crores in the same period. It further displayed a 21% growth in its deposits at ₹18.83 Lakh Crores.
As of 2020, the average price of an EV was over 2 times, which is about 137%, more than similar ICE variants. Since then, this gap has decreased to 73%.
During this period, the Godrej Group’s arm also purchased Raj Kapoor’s bungalow in Chembur, Mumbai, to build a luxury housing project.
Following the deal, the remaining 30% stake will be held with Darshan Hiranandani. Through this move, AG&P aims to expand its CNG and LNG business in India.
The amount has been reduced to ₹4,306 Crores, Viacom18 revealed, on 13th April 2023. Reliance Industries is now leading the investment with an infusion of ₹10,839 Crores.
While Indian indices extended their previous week’s gains, this progress was lost on 13th April 2023, as Sensex slipped by 114.2 points to 60,278.57 during the opening bell.
The bank has revised its interest rates on FDs below ₹2 Crores with effect from 12th April 2023. A maximum interest of 7.65% and 7.15% will be offered to senior citizens and the general public, respectively.
UTI Asset Management Co. Ltd. sold 1.1 lakh shares of the fintech, while DSP Mutual Fund traded 9,000 shares. Both firms further offloaded shares of other companies.
The Finance Minister revealed this at a news conference that took place after the meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) concluded.
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The institute noted a 10% YoY rise in the average CTC for candidates, which came to ₹33.63 Lakhs for the top 25% and ₹30.90 Lakhs for the top 50%.
This decision was taken after the firm finalised its future credit requirements based on projected cash flows. The deal is expected to be finalised by next month.
The Twitter app will now include a feature to let users trade with eToro, starting Thursday, 13th April 2023. They can also view market charts on a wide range of financial instruments.
The London-based financial institution’s private banking service is expected to be set up by June 2023, those aware of the matter stated.
Hybrid and debt funds recorded outflows of over ₹50,000 Crores in March. Meanwhile, open-ended equity MFs noted a 31% jump in inflows at ₹20,534.21 Crores.
The Ministry of Home Affairs' Indian Cybercrime Coordination Centre’s (I4C) alert mentioned that the hackers launched Denial of Service (DoS) and Distributed Denial of Service (DDoS) attacks.
83% of them confirmed that they plan to move jobs to avoid falling prey to uncertainties. Some respondents cited cost-cutting and over-hiring, among others, as reasons for layoffs.
The initial claims for state unemployment benefits rose by 11,000 to 2.39 lakhs for the week that ended on 8th April 2023, higher than the 2.32 lakhs forecasted by economists.
Salil Parekh, the MD of the firm, said that the business environment remains ‘uncertain’. He revealed that the enterprise has no ‘clear view’ of FY24.
Unsecured loans, in absolute terms, remained at ₹2.2 Lakh Crores between February 2022-23, and banks lent ₹1.18 Lakh Crores to large-scale corporates in the same period.
Officials are in talks with multiple semiconductor-manufacturing organisations, trying to convince them to set up shops in several proposed geographies across the country.
The firm is in talks with a few sovereign funds to enable certain shareholders of the company to sell their stake at a valuation of roughly $3 Billion (approx. ₹24,465 Crores).
The IT firm reduced its headcount by 3,611 in Q4 of FY23. This brought their total staff strength to 3,43,234, showing an attrition rate of 20.9%, for the period.
After obtaining the due clearance from authorities, the facility will be able to produce almost 12 crore smartphones annually once it is fully operational.
While virtually attending the recruitment drive on 13th April 2023, the Prime Minister said that startups have created over 40 lakh jobs in the country.
The Insurance Regulatory and Development Authority of India has asked the industry to be ready to quickly provide the required solutions to people in this segment.
Kolkata Police has already contacted the Australian Federal Police to reach out to the victims and record their statements. So far, 18 individuals have been arrested.
Zerodha Broking Ltd., already has SEBI’s initial clearance for building an asset management company (AMC). It now awaits the regulatory body’s final approval.
Earlier this year, a group of hackers called BlackCat stole and leaked around 2 terabytes of Solar Industries India Limited's classified data on the dark web.
On 12th April 2023, HDFC Bank Limited signed a pact called the "Master Inter Bank Credit Agreement" with the Export–Import Bank of Korea, agreeing to a line of credit worth $300 million (about ₹2,458 Crores).
According to two anonymous sources, the start-up has already begun holding initial talks with potential investors. Its existing investors may also consider participating.
The Prime Minister is also expected to visit AIIMS Guwahati to check the newly established campus and dedicate it to the public.
iPhones worth about $7 Billion (about ₹57,386 Crores) were assembled in India in the last fiscal. Reportedly, the company is looking to diversify its supply chain beyond China’s boundaries.
Data from the Health Ministry reported that the number of active infections in the country rose to 44,998, with a 4.42% daily positivity rate, as of 12th April 2023.
The regulator has found that certain lenders use penal charges as a ‘revenue enhancement tool’, leading to several customer disputes and grievances.
The report by United Nations Trade and Development Conference (UNCTAD) further mentioned that global growth could fall to 2.1% for the year, compared to the earlier 2.2% forecast.
The minister will meet with the representatives of e-pharmacies, and discuss the Centre’s concerns over irrational drug sales, malpractices, and data privacy.
The firm had about 40 lakh active users in 2022. Its platform allows intercity drivers to offer spare car seats to travellers, thereby sharing the journey's costs.
The Ministry of Health and Family Welfare has also simplified the referral process for all beneficiaries falling under the Central Government Health Scheme (CGHS).
As traditional banks gain during the ongoing gold loan rush, NBFCs like Muthoot Finance and Manappuram Finance are struggling to maintain their market share.
Paolo Mauro, Deputy Director, Fiscal Affairs Department, International Monetary Fund (IMF), also suggested simplification and rationalisation of GST.
The company also announced a final dividend of ₹24/equity share for the fiscal, and its shares gained by 1% during the trade session of April 12.
These funds were raised in a new tranche of the firm’s ongoing $1 Billion fundraising round. It looks to raise another $250 Million (about ₹2,050 Crores) here.
The bank plans to expand its retail portfolio by entering the home loans segment in Q4FY24. It also aims to launch proprietary credit cards by June 2023.
The new network in Tamil Nadu features eight facilities, including sortation and fulfilment centres in key locations like Chennai, Hosur, and Coimbatore. It also incorporates 200 delivery hubs.
During its 64th Annual General Meeting, the FMCG manufacturer also announced the record date for determining stakeholder eligibility to be April 21, 2023.
The company noted a 30% YoY increase in the total sales of its premium and elite wines, while its brand sales exceeded 10 lakh cases in FY23.
At present, Credit Suisse has over 40 wealth management staffers in India. Additionally, its overall headcount in the country stands at 7,000 employees.
The hospitality chain stated that these apartments will be up for sale by the summer of 2023 and will include a fitness centre, lobby manager and concierge, among other amenities.
Prior to its IPO listing, the fintech looks to conduct a fundraiser round and will be guided on the matter by ICICI Securities Limited.
Tata AIA Life Insurance Company Limited and Kotak Mahindra Life Insurance Company Limited also reduced ₹39 Crores worth of their equity in Infosys, each.
The campaign, called ‘Stay Safe with WhatsApp’ includes multiple security features, which will help protect users against messaging scams and in cases where their SIM card or phone is compromised.
This was stated to be the greatest single-day surge in COVID-19 cases since 1st September 2022, when the country logged 7,946 fresh infections in one day.
Alternative Investment Funds should also ensure that individuals planning to join them via SEBI-registered intermediaries are added only via direct plans.
It rose by 26.67% to 16,497 units in FY23. Santosh Iyer, MD and CEO of the firm, attributed this surge to the high demand for the company’s Top-End Vehicles.
The Nifty Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) Index aims to gauge the performance of REITs and InvITs that are publicly listed and traded on the NSE.
Billionaire businessman Shapoor Mistry’s company is looking to sell its controlling share in Mumbai-based Afcons Infrastructure Ltd. and some of its ports.
The Finance Ministry has exempted the board from paying taxes on any revenue earned from textbook sales, examination fees, and publications, among other specified income sources.
The organisation is undergoing a restructuring process aimed at optimising operations. Reportedly, the sacked employees will be provided with severance packages and additional support.
The International Monetary Fund also decreased its global GDP projection for 2023 and 2024 to 2.8% and 3%, respectively. This was a sharp decline from the 3.4% noted in 2022.
RBI had announced that Q1FY24’s indicative State Development Loan (SDL) borrowings may hit ₹2 Trillion, which is 81% higher than Q1FY23.
Users eligible for the bank’s Buy Now Pay Later scheme can now choose from three instalment periods when paying via UPI QR codes for amounts over ₹10,000.
Union Minister Dr. Jitendra Singh stated that start-ups have increased to over 90,000 from roughly 350 in 2014 after the Prime Minister’s special scheme was rolled out in 2016.
This development was due to investors’ bets regarding the US Federal Reserve ending its aggressive monetary tightening cycle soon.
As per sources, the global 2-wheeler giant has already acquired a land parcel of 60 acres for this purpose in Cheyyar, a town located on Chennai’s outskirts.
This was awarded to ventures that operate at the grassroot level. The grant was split between four winners who received ₹6 Lakhs each, while four runners-up got ₹1.5 Lakhs each.
It rose from ₹2.21 Lakh Crores in FY22 to ₹2.57 Lakh Crores in FY23. Meanwhile, a 26% increase was also noted in the premiums of the health insurance industry.
The latest data from the RBI also supports this view, as presented by industry experts. It shows that the CD ratio has risen to 75.8% as of 24th March 2023.
FY22’s data on the scheme showed these two firms lead, followed by SBI and HDFC Bank Ltd., among others. It was launched on 8th April 2015 to provide micro-credit to entrepreneurs.
The firm is looking to launch schemes in significant equity categories like flexi-cap, mid-cap, large-cap, arbitrage and balanced advantage funds.
The Mumbai-based senior citizen first received an email from the fraudster in February 2023. She asked for his help to invest in Indian markets and promised a 25% commission.
Requesting anonymity, two government officials said that the Centre is planning to sell off its stake in the Shipping Corp. of India Ltd. (SCI) in May 2023, after putting it off for many years.
The fund’s objective is to produce long-term capital by investing in securities of firms and global ETFs/MFs that may benefit from innovation strategies.
The corporation has established a Security Operation Centre (SOC) and an Information Security Division (ISD) through the redeployment of pre-existing officials for this purpose.
In a statement, Apple mentioned that these new retail locations in Mumbai and Delhi signify a notable expansion, providing people with new ways to discover, browse and purchase its products.
Even amidst sustained volatility and lower returns, 2.48 crore new demat accounts were added in FY23, with a monthly average of over 20 lakhs.
During the intra-day trading session of 10th April 2023, shares of Tata Motors Ltd. and Tata Motors – DVR Ltd. surged by about 8% each, with the latter at ₹235.45 apiece.
These allowance hikes were formally introduced by the organisation’s Apex Council during a meeting, held on 9th April 2023, although it’s been in effect since October 2022.
Lightspeed believes that OfficeBanao is well-positioned to change the non-transparent experience plaguing the industry currently, due to its experience and supplier network.
RBI revealed that these new norms will be applicable to NBFCs, credit information firms, Indian banks, primary cooperative banks, and all RBI-regulated entities.
The State Bank of India will hold a board meeting on 18th April 2023, to discuss the process, which could involve selling senior unsecured notes in several tranches.
Experts believe that UPI can prevent risks like fraud since users don’t need to type their PIN for payments, unlike debit cards.
This growth will be driven by new categories, developments in Tier-2+ cities, and D2C brands, according to a report by Redseer Strategy Consultants.
Electric two-wheelers led the segment at 62%, completing sales of 7,26,976 units in the same period, followed by electric-three wheelers, accounting for 34%.
Several Reddit users shared their experience with the glitch, where one user received $1,072 (about ₹87,873), while another got $240 (about ₹19,683).
This chatbot will allow customers to converse with it using audio messages in various Indian languages, which will be created via the Bhashini platform.
Under the collaboration, which was first announced in 2020, all 15 dealerships of the global automobile major in India, will now be handled by Bajaj Auto.
The company clarified that this move was not related to its financial performance as its profits, margins, and revenues are at their all-time high.
This helped banks moderate the overall expenses of funds, and it aided in improving their net interest margins to 3.73% in December 2022 from the year-ago period.
Gold remains to be a preferred asset class for investors, with spot gold prices rising to a 52-week high level of $2,032 (about ₹1.66 Lakhs) per ounce.
The precious metal imports declined due to global economic uncertainties and high customs duties, according to data from the Commerce Ministry.
Maharashtra’s Deputy CM, Devendra Fadnavis announced this sum for each of the deceased victims' families. This incident occurred at a temple in the Akola district.
As per the official BSE filing, the sales bookings for the quarter rose to a record-high of ₹4,051 Crores, as it jumped by 56% from ₹12,232 Crores in Q3.
The firm’s MD and Chairman, Gautam Hari Singhania, stated that they are looking at high growth volumes from their new realty business, while their lifestyle venture pushes it further.
An overall drop in PC shipments was noted in the sector, as it fell by 29% to 5.69 crore units. It dropped to a level lower than that recorded in early 2019.
In January 2023, the Army Chief General announced opening the Regiment of Artillery to women officers, in a landmark move, followed by the government’s nod to the proposal in March.
This was found to be at 20 months for the top seven Indian cities, as per data released by ANAROCK Property Consultants Pvt. Ltd. on 10th April 2023.
officials now require plot owners to submit property tax receipts at the time of asset registration, along with proprietor details which are to be incorporated in the adangal (revenue record) copy.
The digital payments provider will reduce its workforce by about 20% across departments, as part of its plans to sustain and continue the platform’s operations.
Spot govld slipped by 0.9% to touch $1,990.69 (about ₹1.63 Lakhs) per ounce, while US gold futures were down by 1% at $2,006.30 (about ₹1.64 Lakhs).
According to freshers, this move may be a way for the company to do away with them, as offer letters will automatically get cancelled for non-participation in the programme.
The company is also working towards becoming the market leader in this quick-developing segment. It sold 2.02 lakh SUVs in FY23 and plans on selling about 5 lakh units this fiscal.
According to Jayen Mehta, the MD of Amul, the enterprise is likely to note a turnover of approximately ₹66,000 Crores, driven by the rise in demand.
Data from Tracxn showed that the number of funding rounds also fell by 63%, dropping to 301 in the March quarter of 2023 from 816 in the same period of 2022.
CEAT Ltd., Larsen & Toubro Ltd., Vedanta Ltd., Tata Steel Ltd., and Mphasis Ltd., etc., are onboarding more LGBTQIA+ workers, especially in leadership positions.
A jointly formed Special Purpose Vehicle will be utilised to infuse the capital. ₹3,000 Crores and ₹2,000 Crores will be invested by Oaktree Capital and Indiabulls Housing Finance, respectively.
This sector noted a 21% growth in total retail sales in FY23 but may now see reduced margins this year due to reasons like high-interest rates on loans for autos, increased costs, and rain.
FY23’s loan demand was the greatest in 11 years. This was seen despite banks hiking their lending rates sharply to match external benchmarks.
On 9th April 2023, officials revealed that Mansukh Mandaviya, the Union Minister for Health and Family Welfare, will visit AIIMS Jhajjar to supervise the drill on April 10.
Public sector banks are likely to reach this milestone due to robust loan growth, a downtrend in bad loans, a drop in non-performing assets (NPAs), etc.
Hundreds of parents from Bengaluru are receiving spam messages/calls from pre-university colleges and coaching institutes, asking whether they need information on admissions.
The session is being held on Wednesday, 12th April 2023, and will be conducted by the Hyderabad City Security Council (HCSC) and the Hyderabad City Police Commissionerate.
The fruit seller, Gaurav Sanas, explained that purchasing mangoes at his shop is similar to buying a mobile phone on EMI.
These plans are in alignment with the commencement of new hotels and pipeline numbers this year. Mandates for hiring more women staff have also been issued.
As per the latest update from the Union Health Ministry, India saw a single-day rise of 6,050 cases on 7th April 2023, with a daily positivity rate of 3.39%.
It rose from the 70,630 units recorded in the year-ago period to 85,850 units in Q4FY23. A record-breaking 86% increase in new supply was also reported.
This development was notified by Anurag Thakur, Union Information and Broadcasting Minister, following a meeting held by the Cabinet Committee on Economic Affairs.
This will prohibit all such apps from seeing customers’ locations, contacts, call logs, photos, videos, etc. to prevent them from harassing borrowers for dues.
It is called ‘ProHealth’, and is a first-of-its-kind innovation that is assisted by a predictive algorithm. It records a person’s health status to make predictions on potential risks accordingly.
This linkage between the payment systems of India and Singapore will start a new chapter of smoother cost-effective payments for Indians around the world.
As per the firm’s filing, James Gorman’s net package increased to $39.4 Million in 2022. The revised wage includes delayed compensation for his performance.
After clicking on the job advertisement link on Instagram, she was contacted by a person named Rahul who directed her to deposit the amount as part of miscellaneous fees for the role.
Benchmark indices did marginally well throughout FY24’s first week with Nifty going past 17,000 points on April 6's close.
This decision is expected to boost residential real estate sales, especially in the mid-income, low-income, and affordable categories.
The Tata Group-acquired airline also rolled out around 29 new staff policies and has sent out orders for 470 new planes, under its transformation plan.
The State of India Gaming Report 2022 also showed that esports players grew to around 6 lakhs in 2022. This is expected to rise by another 2.5 times in the next 5 years.
These rates have been in effect since 4th April 2023 and will now offer a maximum of 7.26% and 8.01% interest to non-senior citizens and seniors, respectively, on deposits of tenor between 2 years and 30 months.
The victim was wrongfully issued a replacement for his SIM card, which the fraudsters utilised to receive OTPs and other such alerts, and stole ₹40 Lakhs from his bank account.
These worker accolades, commonly known as restricted stock units (RSUs), account for a major portion of employees’ compensation packages.
The S&P Global India Services PMI Business Activity Index was in green for the 20th consecutive month in March 2023, despite falling from February’s 59.4 to 57.8.
The online delivery platform said that this step will help balance its business strategy and turn profitable before its scheduled IPO in 2025.
The report by CASHe further revealed that 84% of customers prefer a credit line over ‘Buy Now, Pay Later’ (BNPL) schemes and personal loans.
This development occurred after lenders like HDFC Bank Ltd., Federal Bank Ltd., and IndusInd Bank Ltd., among others, managed to exceed industry averages.
With an aim to support business sustainability, Micro, Small, and Medium Enterprises (MSMEs) will be offered pocket-sized insurance products, through this partnership.
Accion’s fund made an investment of ₹120 Crores, while the other investments came from other investors, including high-net-worth individuals and family offices.
This advice comes after numerous customers complained to many banks about data outages. These typically occur due to an exponential hike in transaction volumes.
On Thursday, 6th April 2023, RBI’s Monetary Policy Committee (MPC) decided against hiking the repo rate, stating that it plans to retain its ‘withdrawal of accommodation’ policy stance.
The Bank of Maharashtra announced on 5th April 2023, that it has recorded a 29.59% credit growth for the March quarter, which stood at ₹1.75 Lakh Crores.
4 cases of cyber fraud took place in the districts of Junagadh and Rajkot, Gujarat, wherein conmen attempted to dupe off a total of ₹7 Lakhs.
The scheme will be available only for a limited period. As per the official statement, these special rates have been in effect since 5th April 2023.
This was mentioned in its latest guidelines, released on Wednesday, 5th April 2023, and further requested insurance firms to chart out clear plans for this.
The Centre claims that the scheme has provided loans to over 1.8 lakh ST, SC, and women entrepreneurs, since its inception in April 2016.
The group is reportedly looking to repay a part of its debt obligations and imbue cash into its operating firms. It has already pledged 9% out of its 18.37% stake in Tata Sons Pvt. Ltd.
On 5th April 2023, the iPhone maker released a photo of the barricade around the new shop called Apple BKC, inspired by Mumbai’s iconic ‘Kaali Peeli’ taxi art.
The new rate has increased by 70 bps and will be locked for five years on investments made during the ongoing quarter.
Its 2 variants, the GT Line and GT Line AWD, will be available at a manufacturer’s suggested retail price (MSRP) of ₹60.95 Lakhs and 65.95 Lakhs, respectively.
The rate lowered to 20% in Q2 of 2021. As per the recent India Development Update regarding urban workers, 39% of male and 25% of female workers were affected by the pandemic in Q2 of 2020.
In the January-March 2023 quarter, development completions amounted to approximately 1.16 crores sq. ft, as it increased by 31% from the year-ago period.
This surge was reportedly seen after the Finance Bill amendment, which classified capital profits from debt mutual funds as short-term capital gains only.
Ambani took the 9th spot on the Forbes Billionaires 2023 list, released on 4th April 2023, with a net worth of $83.4 Billion (about ₹6.83 Lakh Crores).
About 1,500 employees spread across countries will be let go, while activities in certain areas will be scaled down. It also plans on closing 20 of its operations located globally.
The company also stated that, during the same period, its business grew by 17%, while some of its brands like Santoor and Enchanteur generated revenues of over ₹1,000 Crores.
This is being done due to the expectations of companies of strengthened consumer demand from non-metro and metro cities, in the upcoming quarters.
This fundraising deal comes days after the two companies successfully received a high-demand syndication loan of $3 Billion from around 55 global lenders.
These include dealer-level, corporate, and direct discounts, alongside exchange offers. This is amidst concerns regarding the falling demand and excess stock.
This move marks the firm’s re-entry into the country after shutting down operations in 2018 due to the failure in scaling its business with the previous partner.
3-wheeler sales surged by 69%, noting an all-time high of 86,857 units in March 2023. 2-wheeler and commercial segments grew by 12%, and 10%, respectively.
On 21st February 2023, NSE India Ltd. extended the trading duration for interest rate derivatives to 8 hours. Find out how this can benefit market participants.
On Tuesday, 4th April 2023, Bitcoin’s year-to-date gains between January 1-April 4 stood at 68.56%, achieving a valuation of $28,280 per token (approx. ₹23.24 Lakhs)
These sales were higher in January 2023, owing to online purchases made around Republic Day, but fell in February due to a decrease in post-sale footfalls.
After several companies reported high employee expenses last fiscal, HR experts predicted that workers are likely to receive the lower end of their increment range.
Under this, companies must now disclose details of their ‘material’, rather than ‘significant’ accounting policies in their financial statements.
Ajay Singh, ASSOCHAM’s President, stated that further hikes would go past the saturation point. This could become challenging for rate-sensitive sectors.
An individual aware of the development stated that this fundraiser is slated to be one of the biggest of the ongoing fiscal and will be dependent on regulatory approvals.
On the opening weekend, JioCinema noted over 147 crore video views and 5 crore new app downloads. Its new viewers came from the country’s top metros, Tier 1 and 2 towns.
According to a report from the media investment firm GroupM, these costs, including celebrity endorsements and on-ground sponsorships, saw a jump of around 49%.
The positivity rate was 15.64% on Tuesday, while the city’s COVID-19 death toll stands at 26,533. Most patients reportedly tested positive for XBB1.16 and its sub-variants.
The company’s loan bookings in the period under review grew to 76 lakhs, compared to 63 lakhs in FY22’s corresponding quarter.
The decision was taken after the firm reported a rise in input costs, along with upgrades made to the car engines to meet the new BS6 phase II emission standards.
The criminal informed the victim that her bank account and identity were being misused for ‘international terror funding’ and he took the amount to verify her account.
On 4th April 2023, PhonePe Private Limited revealed the launch of its new shopping application, Pincode on the platform. It will focus on hyperlocal trade.
The fundraiser involves two separate deals of convertible notes and equity, which may be announced in the next two weeks. This move will help the firm sustain its liquidity crunch.
Walmart is likely to terminate 1000, 600, 400, and 200 positions at Walmart’s facilities located in Texas, Pennsylvania, Florida and New Jersey, respectively.
The Naukri JobSpeak Index revealed this data, as it noted a marginal increase of 5% on a YoY basis in March 2023 and remained flat in comparison to the month prior.
The Competition Commission of India has approved the step and agreed to the proposed acquisition of the two FMCG firms into Haldiram Snacks Food Pvt. Ltd.
With this, Burman Hospitality Pvt. Ltd. aims to bring the overall store count to 600, from the current 130, despite inflationary pressures slowing down demand.
After it was extended several times, the ICICI Bank Golden Years FD scheme offered by ICICI Bank Limited will be stopped on 7th April 2023.
Sundaram Home Finance Ltd. (SHFL) plans to open 10 more SBL branches in the state and hire around 100 additional workers, due to the success of its lending business.
Multiple pressures like unachievable targets, persistent fear of layoffs, and toxic work cultures are troubling employees, forcing them to take such drastic measures.
On a similar note, the private sector lender’s rural and commercial loans grew by roughly 30% over the figure noted on 31st March 2022.
The issue, which occurred on 4th April 2023, impacted many features of the bank, like UPI and Netbanking. It also caused failures during money transfers and credit card payments.
This fall disrupted the sustained trajectory of growth in the Indian job market, as seen since October 2022, data compiled by Xpheno Private Limited revealed.
Sales of the anti-bacterial drug earned around ₹80 Crores in India’s pharma retail market, marking a 24% revival in the sector worth about ₹2 Lakh Crores.
According to Avendus’ report, of India’s 6.4 crore MSMEs, only about 14% are able to access credit. The firm’s MD believes that this sector is the backbone of the economy.
Data released by multiple rating agencies showed that Indian companies’ credit quality remained resilient, despite experiencing inflationary pressures.
Swiggy announced that Madhusudhan Rao will replace Dale Vaz as the CTO. The latter will continue his role until May and will operate as an advisor for an extended duration.
The private sector bank recorded a 7.45% uptick in total deposits that surged from ₹12,403 Crores in March 2022, to ₹13,327 Crores in the same period this year.
The companies aim to provide hassle-free and seamless foreign exchange services to international travellers. Moreover, the partnership will look to strengthen the airline’s platform.
As per the data presented by the Finance Ministry, on 3rd April 2023, around ₹3.07 Lakh Crores were issued in FY23 as refunds.
It will consist of a fresh issue worth ₹160 Crores, along with an offer for sale (OFS) of up to ₹190 Crores by its promoters and existing shareholders.
Data from the Department of Women, Child Development & Social Security revealed that there are now 21.45 lakh pensioners in the state, compared to the 6.6 lakh seen in November 2000.
The scamsters had asked them to watch and rate movies. For this task, they were promised a daily income of ₹2,500 to ₹5,000.
According to the police, there have been two such instances in the past week, where victims lost a combined amount of ₹2 Lakhs to cybercriminals.
This will be conducted from April 1 to June 30, the Ministry of Finance revealed in an official press release on Friday, 31st March 2023.
As per the bank, an additional 0.15% interest will be provided to super seniors, taking the rate up to 7.80%, as part of the ‘limited period special scheme’.
The airline informed that its subsidiary, SpiceXpress, can now raise funds independently. Moreover, SpiceJet expects one-time earnings of up to ₹2,555.77 Crores.
Major oil producers including OPEC+ cartel announced that they plan to reduce their outputs by over a million barrels per day, thereby inducing fears of another price hike.
According to the study, conducted by an IIT Bombay professor, this uniform facilitation fee could help fund the infrastructure needed for such transactions.
The company noted a revenue of up to ₹55,055 Crores for the fiscal under review. This was driven by the rise in demand for branded consumer items.
Aside from the slowdown in the country’s petrol and diesel consumption growth, sudden rains also affected India’s farm sector and relevant transportation requirements.
These assessment orders were issued after the Income Tax Department sent show-cause notices for tax evasion-related offences, as per the Black Money Act, 2015.
A report by Knight Frank LLP stated that 2,922 residential apartments were registered that month, compared to 1,593 in 2022’s corresponding period.
Despite multiple rounds of layoffs in the manufacturing sector, its output and new order tally shot up, while input cost inflation fell.
About 20,000-25,000 such positions remain vacant in India and are expected to keep rising as telecommunication firms boost 5G rollouts.
A member of the Indian SARS-CoV-2 Genomics Consortium (INSACOG) further stated that 25-30% of all infections are of the XBB variant’s sub-lineages.
Before the merger, Credit Suisse and UBS had a total headcount of about 50,000 and 72,000 employees, respectively.
The central bank is likely to hike its repo rate on Thursday, 6th April 2023, in an attempt to control retail inflation and keep up with its global counterparts.
The new role of prompt engineers requires people to work with AI and obtain desired results while helping firms better equip their staff with such tools.
In FY23, ₹14.05 Lakh Crores worth of payments were made via UPI, rising by 46% against FY22, when 5,406 transactions worth ₹9.6 Lakh Crores were processed.
A senior official with Cyberabad Metropolitan Police said that notice has been served to around 11 firms for them to provide details on their database maintenance.
As per the Finance Ministry’s data, public debt accounted for roughly 89% of the total outstanding liabilities in December 2022’s quarter. This is less than September’s 89.1%.
A report by The Wall Street Journal revealed that the firm sent an email to the US employees, directing them to work from home for three days so that layoff decisions can be delivered virtually.
The Government e-Marketplace's (GeM) creation falls under Shri. Narendra Modi’s objective of operating government departments with high transparency and integrity.
In recent times, the country has fallen behind in job creation. However, Shri. Narendra Modi has assured citizens that this problem will be addressed shortly.
On 31st March 2023, the Centre increased the interest rates applicable on 10 small savings schemes for the upcoming quarter of April-June 2023, with the highest offering being 8.2%.
The authorities aim to boost the regulatory framework to eliminate organisations offering fraudulent schemes while safeguarding direct sellers’ interests.
Benchmark indices largely performed well during the last week of FY23. Friday’s session, on 31st March 2023, saw Nifty shoot past the 17,200 level.
The Union Minister of Commerce and Industry, Piyush Goyal, cited some reports, stating that India may soon become the fastest-growing economy.
Capitalmind announced reimbursing employees for their subscriptions and mentioned that this programme has improved their productivity by around 5x.
The Centre for Monitoring Indian Economy (CMIE) noted a 0.86% average weekly customer sentiment increase, while the median surged by 0.93%, for the last 60 weeks.
The Goldman Sachs-backed company conducted a town hall on 30th March 2023, where its 450 workers were informed of layoffs across departments.
It signed the agreement in adherence to the DSRA (Debt Service Reserve Account) claims/undertaking, as Siti Network Ltd. failed to repay its loans.
Besides this data, titles from someone’s chat history could have potentially become visible to others, if users were online at the same time.
The new policy, which was released on 31st March 2023, is expected to boost the country’s economy, enhance global trade ties, and promote sustainability.
These new guidelines are aimed at safeguarding consumer interests by increasing their trust towards hallmarked gold jewellery with quality assurance and traceability.
As the wealth management industry in India continues to grow, financial institutions are now deploying more resources to attract affluent customers.
Fundraising through overall market instruments declined to ₹11.73 Lakh Crores in the ongoing fiscal year compared to FY22.
There is a need for engineers who are skilled in domain-specific and new-age tech. India is looking to position itself as the next major semiconductor manufacturing hub.
As per data provided by GfK India, the average selling price (ASP) has increased by up to 18% across several categories in 2022.
The state recorded 694 new cases on Thursday, which was higher than the previous day’s count of 483. No deaths have been reported in this duration.
As a salaried employee, you are entitled to a monthly contribution from your employer in your PF account. Find out what to do if there is a delay in this!
As per reports, ZestMoney may struggle to find a new buyer due to little cash runway and significant debt. Meanwhile, PhonePe might offer the firm another line of credit.
The company made this decision after it failed to obtain additional funding for its operations and noted a swift decline in its business undertakings.
Under the pretext of high returns, the fraudster convinced the victim to transfer her money into two separate bank accounts.
The firm's staff in Ireland could get this amount, if they were employed under the company since 2003, the year it commenced its operations in the country.
The food delivery company also highlighted that one user from Hyderabad placed orders worth ₹6 Lakhs for Idlis in the last 12 months.
People aware of this matter revealed that the Adani Group is redirecting its efforts on increasing business efficiency and debt reduction, rather than rapid expansion.
The property, located in the Golf Links locality, is stretched across 1806.35 sq. m. of plot land and the entire building’s covered area is 1869.7 sq. m.
The average pay hikes offered by Indian companies to slip as the IT sector faces client shortages. Keep reading to know how this can affect you!
The family bought a sea-facing triplex apartment built by the Lodha Group in Malabar Hills, South Mumbai, for ₹369 Crores.
Starting in 2023, the firm will be taking off the eSIMs of its iPhones in France. If Apple goes ahead with this move, it’s likely that the same will be done in other parts of Europe.
It has more than 22,000 restaurants operational in India and plans to introduce 5,000 more on the network within the next 3 months.
Before this move, the annual costs for such treatments were revealed to be significant, ranging between ₹10 Lakhs and over ₹1 Crore.
For the third consecutive day, a hike was reported in MSCI Inc.’s broadest Asia-Pacific shares’ index outside Japan, as it rose by 0.3% on 30th March 2023.
In addition, over 43 lakh promotional content was restricted and more than 67 lakh advertiser accounts were suspended by the company, as per its Ad Safety Report 2022.
The DDA has also allotted ₹1,767 Crores for the construction and completion of houses. Meanwhile, Elante Group’s latest projects are located in two of Delhi’s most premium areas.
A senior executive said that while it increases by 6% annually, the 18% rate hike is done once in 3 years, as per the notification issued on August 9, 2004.
The amount will be taken from the roughly ₹24,000 Crores parked in the Sahara-SEBI escrow account. It will be transferred to depositors within 9 months.
The Dollar Index also became higher, making the bullion less affordable for buyers with other currencies. Players are on the lookout for the US Fed’s data, due on Friday.
Due to the global popularity of ESG funds, Indian policymakers are encouraging such investments. During market crashes, investors are likely to opt for these assets.
The real estate, acquired on a perpetual lease will be utilised by the Alliance Group to construct a multi-storey residential project called Urban Rise.
The edtech startup cited cost-cutting measures for the newest layoff. Its CEO explained that the venture had earlier taken steps to turn the business profitable.
This outlay will be used for renewing the civic infrastructure of Dwarka, Narela, and Rohini, and finishing outstanding residential projects.
Out of this share, state-owned lenders only retrieved ₹1.03 Lakh Crores, meaning that the net written-off dues came to ₹6.31 Lakh Crores after the recovery.
The firm has already received a positive response for its first group of hired army veterans. This programme is presently operational at Infosys Public Services in the US.
This platform will cater to plotted development projects in Bengaluru and Chennai. Through the partnership, TVS Emerald wishes to grow its portfolio in southern India.
Retail investors are being encouraged to invest in debt funds by 31st March 2023. The demand for them is being led by HNIs, who are looking for gains after tax and indexation.
Last year, the 'Made-in-India' smartphone shipment segment was led by Oppo with a share of 22%, followed by Samsung.
On 29th March 2023, the Union Health Minister informed that he held three meetings with scientists, regarding the matter. At present, they have data on comorbidity and vaccination.
Through this, the Chinese conglomerate can explore various listing or fundraising opportunities and also bring down widespread regulatory crackdowns.
These ₹8.8 Lakh Crores will be raised from the market through the issuance of bonds. The amount is more than double the figure in 2019.
The board of the regulatory body further permitted self-sponsored asset management companies (AMC) to keep conducting the MF business.
The positivity rate for 29th March 2023, rose to 13.89%, as revealed by the city’s health department. Meanwhile, 214 new cases were recorded on Tuesday.
This extension will likely provide relief to such individuals, owing to their difficulties in receiving tax treaty benefits, and residents who engage in foreign remittances.
In the statement released on 29th March 2023, the authorities affirmed that the interchange charge will not be levied on customers, but on PPI merchant payments.
While the financial transaction remains unknown, the acquisition is said to prove beneficial for the Lifelong Group and the current employees of GoMechanic.
The bank will now offer returns of 4.75% to 6.75% on FDs maturing between 7 days and 10 years. These new rates will be effective from 29th March 2023.
The firm has promoted Madhav Sheth to VP of Business and Corporate Strategy (Global). realme will utilise his expertise and global background to strengthen its brand in overseas markets.
It was revealed that about 36-40% of officers and 44-58% of medical officers received this pension. CAG has requested the Army HQ and the Ministry of Defence to identify the reasons for this.
Free furniture and modular kitchens are some gifts being given to potential customers this festive season. Cars and gold coins are also offered by some firms.
This cyber security product can help professionals battle attackers through 65 lakh crore signals intercepted daily, increasing cyber safety worldwide.
This was achieved with the help of the Indian Cyber Crime Coordination Centre (I4C), and over 250 financial intermediaries and banks to assist with conducting quick actions to help stop illegal transactions.
A man from Pune was duped of ₹1.45 Lakhs by a cyber fraudster posing as a caller from a finance firm. The victim had been looking to apply for a loan.
The Union Home Minister, on 28th March 2023, disclosed that over 500 internet applications have been blocked and the Centre has taken initiatives for improved cyber security.
The new D2C app will serve as a web-based digital lending platform to provide loans to MSME owners via a fully automated and digital onboarding procedure.
Under this, both airlines have moved to a single website and adopted common customer support and social media channels.
As per a report released recently, a 30% increase in hiring is anticipated by 31.92% of start-ups, while 28.08% plan team expansion in the 11-20% range.
Video consumption on digital media platforms continues to grow in India, says a report by BCG. Pay-TV households are also steadily rising in the country.
he project is based on the theme of nature, and will include various green spaces, kids’ playing areas, temples, parks and will feature modern facilities and amenities.
Employee engagement survey, ‘Abhivyakti’, is to be organised in SBI on a pan-institution level.
The new scheme offers customers a small ticket loan ranging from $50-$1000, splitting the repayment into 4 instalments. This is only applicable to in-app and online purchases.
Mutual funds holders are required to provide nomination details or declare their exclusion from it, in order to prevent their accounts from getting frozen, before the new submission date.
In the last two weeks, 32 Indian districts, with more than 10% TPR, saw a 3.5 times surge in the number of COVID-19 cases.
The prices of its buses will be raised by 6%, while that of its trucks will be hiked by 4%. This is owing to the Bharat Stage 6 emission norms that will be enforced from April 1.
This is considered to be the highest yearly price hike on such pharmaceuticals. It includes antibiotics, anti-infectives, and painkillers, among others.
A 1.1% interchange fee is to be levied on payments made via Prepaid Payment Instruments (PPI) to merchants. This will be brought into effect from 1st April 2023.
Q1FY24 is expected to see a steady incline in hiring activities with 64% of employers affirming their support towards pooling more talent for their headcount.
This was discovered by the Indian Cyber Crime Coordination Centre. The included regions are Andhra Pradesh, Uttar Pradesh, Gujarat, and Bihar, among others.
Domestic firms’ increased focus in localisation, and conglomerates looking to lower global supply chain risks could lead to more private investments.
Under this ruling, banks will now lay down a formal process, which includes a platform for listening to borrowers’ views, before labelling them as fraud.
The employees that were sacked are likely to be provided with 2 months’ salary worth of severance pay, people with information on the matter revealed.
This decision by the Central Board of Direct Taxes arrived a few days before the initial deadline of 31st March 2023, marking the fifth such postponement.
This will be the first-ever performance review to be conducted by the Tata Group, since its acquisition of the airline. Pilots will reportedly be the first to receive a raise in their wages.
The decline in employment under the Mahatma Gandhi National Rural Employment Guarantee Scheme was noted for the first time in four years, after hitting its peak in June 2020.
After police officials approached Jeetrai Samant, it was discovered that the man thought Shri. Narendra Modi sent the amount to his Aadhaar-linked account.
The move is in line with the beverage maker’s strategy to offload asset-heavy businesses, while shifting its focus to the enterprise’s brands.
TAM Media Research claimed that AVOD’s market share in India is likely to grow to 40%, from the current 29%, within the coming 5 years.
The bank issued about 3 lakh new cards, followed by Axis Bank, with nearly 2 lakh new customers. Kotak Mahindra Bank and ICICI Bank, reported 80,000 activations, each.
Ur M. Jaddou, USCIS’s Director stated that such laid-off staffers may not be aware of other options that they can exercise, like changing their status, applying for relevant documents, and more.
The upcoming monsoon season is also likely to determine the consumption rate of the precious metal, as it is expected to significantly impact market sentiments.
At present, the Health Ministry and NITI Aayog are working on the proposed scheme’s outline to ensure health coverage for this section of the population.
This decision will impact EPFO’s 6 crore active subscribers. Over ₹90,000 Crores will be distributed across accounts on a total principal sum of about ₹11 Lakh Crores.
ManpowerGroup revealed that although e-commerce firms have streamlined their delivery agent headcount, demand remains robust in logistics and other sectors.
The Minister of State for Defence informed the Rajya Sabha that such shortages are reviewed frequently, and measures to improve them are being undertaken.
The CEO’s letter to employees stated that the 2nd firing round will occur in April 2023, on a larger scale. Additionally, the final job cuts will commence before the beginning of summer.
Credgenics, a debt resolution platform, has undertaken the initiative to help prevent the accumulation of bad loans and ensure timely repayments.
This decline has occurred due to firms being cautious amidst macroeconomic uncertainties, geopolitical tensions, recessionary trends worldwide, and the rationalisation of workforces.
As per the firm’s research, the legal and administrative sectors will be hit the hardest. However, physically intensive jobs with low exposure to AI will be the least impacted.
The company decided to make a block deal with the textile major and bought shares worth ₹31.89 Crores of the latter, through the open market route.
Ever since its launch in 2000, member lending institutions have been provided credit guarantees by CGTMSE for loans given to them by MSMEs without certain prerequisites.
The India Energy Storage Alliance expects the domestic EV market to develop at a compounded annual growth rate of about 36%.
A total of 1.20 crore houses, consisting of central assistance worth ₹2.02 Lakh Crores, have been sanctioned as part of Pradhan Mantri Awaas Yojana - Urban (PMAY-U).
Taxes being levied on fixed-income mutual fund returns might lure more customers towards bank deposits, bringing relief to financers.
The techie explained how it was more challenging to get a job, after having gained some industry experience, as compared to when he graduated.
The latest UPI scam involves criminals first sending money to victims’ accounts and then requesting it back. In doing so, people’s accounts get compromised through malware.
The country’s healthcare industry was the most targeted sector, followed by defence and education sectors, as per Check Point Software Technologies’ President, Rupal Shah Hollenback.
The firm’s CEO informed employees at a town hall that they are looking to arrive at an adjusted EBITDA of about ₹800 Crores in the coming fiscal.
The meeting will be held on the 27th and 28th of March 2023. Here, the interest rate for FY23 may be discussed, which is expected to stay above the 8% mark.
Furthermore, the insurance firm anticipates a valuation of $2 Billion (about ₹16,474 Crores) as its pre-IPO capital generation.
A company spokesperson stated that they anticipate involuntary and voluntary exits in a growth-focused organisation like Nykaa. Moreover, they consider it a standard transition.
About 41% of the candidates received pre-placement offers (PPOs). Meanwhile, 64 of the 66 students were offered packages of ₹20 Lakhs and more.
As per the deal, Manipal Health will pay 75% of the amount now, and the remaining after one year. In 2018, the initial acquisition discussions had begun for a value of ₹1,800 Crores.
The property consultant firm said that this figure is estimated to hit 1.13 lakh units, due to strong demand, despite the 6-9% hike in prices.
This is because investors’ sentiments were influenced by growing concerns about European and US lenders, affecting central banks’ ability to tackle inflation.
Naveen Soni, President of Lexus India, stated that they will extend their offerings towards professionals to de-risk the business.
To support this prediction, experts cited the present inflation level that’s well over RBI’s comfort zone and the recent aggressive stance of the US Federal Reserve.
The overall case tally rose to 81,41,457, while the fatalities surged to 1,48,435. One death each was noted in Kolhapur and Aurangabad, on 25th March 2023.
After this incident, the drugmaker deployed remediation and containment actions which affected some of its business operations, potentially resulting in a revenue drop.
So far in FY23, 2.8 lakh individuals were hired across the IT industry. The recruitment rate is expected to remain flat in Q4 of the ongoing fiscal.
A copyright infringement notice was sent by the company to GitHub, Inc., on whose platform the code had been posted. There is no exact information on how long the data was online.
Until Paytm receives the Centre’s approval to re-submit its application, RBI has informed that the platform cannot onboard new merchants. However, it can still service existing clients.
During the pandemic, countless female employees resigned from their jobs to fulfil family obligations. As per data, their share in the blue-collar workforce fell to 6.34% in 2020.
The study by Kantar Group also mentioned that over half of domestic households did not purchase many discretionary products in January 2023.
This will outline the communication strategy to tackle any business risks or exigencies. PSBs affirmed that the Indian banking system continues to be robust.
After closing in green on 22nd March 2023, Friday’s session saw benchmark indices struggle to hold on to these gains. Meanwhile, the government proposed to levy taxes on debt mutual fund returns.
Through the PNPs, the number of immigrants is expected to increase and reach up to 1,05,500 in the ongoing year and 1,17,500 by 2025.
This information was shared by the Union Minister of Law and Justice in an official written reply to queries from Neeraj Shekhar, MP of Rajya Sabha.
The programme is a collaboration between Xiaomi Technology India Pvt. Ltd. and the NGO to provide vocational training to 100 people from the community.
According to the company’s MD, roughly 44% of their business is earned from this segment, and they plan to raise this figure to 50% by FY25.