Latest News

CGTMSE: Over 8 lakh loans approved for MSE units till Dec in FY23

As per the data revealed, 8.43 lakh loan guarantees worth ₹71,843 Crores were approved till December 2022, surpassing FY21 and FY22 figures.

By Friyana | February 06, 2023 12:09 PM Read more
Paytm, PhonePe set to roll out UPI Lite soon

Individuals with knowledge of such developments stated that the feature is reportedly in the advanced stages of development by the two UPI payment facilitators.

By Aadeesh | February 06, 2023 12:05 PM Read more
WazirX redirects funds after Binance cuts off service

On 3rd February 2023, WazirX tweeted that the transfer of funds is ongoing and will be completed in a few hours. This is the latest development in the conflicts between the two firms.

By Aadeesh | February 06, 2023 11:29 AM Read more
Govt may hike DA for over 1 crore workers, pensioners to 42%

The Labour Bureau’s Consumer Price Index for Industrial Workers, released every month, is factored in to decide the DA for government employees and pensioners.

By Chanel | February 06, 2023 11:06 AM Read more
SEBI proposes measures to tackle mis-selling of AIFs

SEBI proposed to make direct plan offerings for AIFs compulsory and to charge distribution fees for AIFs as per a trail model, to curb mis-selling of AIFs.

By Friyana | February 06, 2023 10:57 AM Read more
EPF withdrawals before five years’ completion to be less taxing

During Budget 2023, it was informed that TDS for EPF withdrawals will be reduced from 30% to 20%. This will be applicable to accounts that are not linked with PAN.

By Aadeesh | February 06, 2023 10:43 AM Read more
Indians spent ₹35,500 Cr in 2022 over Dubai homes

As per 2022’s real estate trends data, this fad has been confirmed. It’s believed that rich Indians are eyeing Dubai properties due to the location’s global connectivity.

By Chanel | February 06, 2023 10:37 AM Read more
Union Minister: India ranks 3rd in global ‘start-up’ ecosystem

Anurag Thakur revealed that the $30 Billion worth of 107 unicorn companies and 90,000 start-ups have added to India’s contribution towards this sector.

By Friyana | February 06, 2023 09:49 AM Read more

Past News

Markets Closing Bell: Sensex soars past 60,000; Indices end in green

After enduring heavy volatility throughout the week, especially during the Union Budget 2023 announcements, Indian indices closed Friday’s session in green.

By Chanel | February 03, 2023 04:18 PM Read more
Tata Sons looking to move out of upper layer NBFC list

The parent company of Tata Group will otherwise be subject to a stricter disciplinary system and will be required to make other difficult changes.

By Aadeesh | February 03, 2023 03:45 PM Read more
Nippon India Mutual Funds introduces new fund

The Nippon India Nifty SDL Plus G-Sec - Jun 2029 Maturity 70:30 Index Fund will invest the pooled money in SDLs and G-Secs.

By Friyana | February 03, 2023 03:10 PM Read more
Over 28 Crore unorganised workers enrolled on e-SHRAM portal

The government initiative is aimed at providing optimum employment opportunities to unorganised workers and enhancing women’s participation in the labour force.

By Shivani | February 03, 2023 03:07 PM Read more
PMI data: India's service sector growth slows down in Jan 2023

PMI data revealed a slowdown in India’s service sector with growth rates dropping from 58.5 in December 2022 to 57.2 in January 2023.

By Friyana | February 03, 2023 02:18 PM Read more
Adani Group's dollar bonds rally 

Bond rates hiked after Gautam Adani was revealed to be discussing prepayment of some of the company’s credit to re-establish public trust in the Adani Group.

By Friyana | February 03, 2023 01:50 PM Read more
Adani Enterprises excluded from Dow Jones sustainability indices

This development occurred as both NSE and BSE placed three of the group’s firms under the framework of short-term additional surveillance measures (ASM).

By Aadeesh | February 03, 2023 01:47 PM Read more
Angel tax on foreign investors may affect Indian start-ups 

Experts believe that it will erase all prospects of any foreign angel investing in the country. However, it will provide income tax officers with the means to question a valuation.

By Aadeesh | February 03, 2023 01:03 PM Read more
BYJU'S to lay off 1,000+ employees

BYJY’S is going to hand pink slips to over 1,000 employees in an attempt to reduce losses, revealed three unnamed sources having knowledge of the matter.

By Shivani | February 03, 2023 12:55 PM Read more
Amazon surpasses revenue expectations, but profits drop

Amazon recorded a revenue of $149.2 Billion, while its profits dropped down to $300 Million. The firm expects its operating profit for the current quarter to fall to zero.

By Friyana | February 03, 2023 12:53 PM Read more
80,000 startups free from angel tax, says govt.

According to the Revenue Secretary, the tax provision will be applicable to all foreign investors, including those considered institutional investors or funds.

By Aadeesh | February 03, 2023 12:25 PM Read more
TCS on remittance hiked to 20%

In the recent Union Budget 2023, the Finance Minister declared a hike in TCS under LRS without any threshold limit, which will be made effective from July 1.

By Friyana | February 03, 2023 12:04 PM Read more
FMCG sector hit by economic slowdown in Q3FY23

The sector’s growth stood at 7.6%, falling from the previous quarter’s 9.2%. Sales volumes slumped as consumers bought smaller packs or refrained from buying products altogether.

By Shivani | February 03, 2023 11:58 AM Read more
Result-based financing offered by govt. across select schemes

This is being done by the Centre in order to incentivise children, parents and teachers that are a part of govt. programmes to achieve their desired goals.

By Aadeesh | February 03, 2023 11:03 AM Read more
800 Sanofi employees offered VRS

The France-based pharma recently offered a voluntary retirement scheme to workers located in two manufacturing sites at Muppireddypally and Medchal in Telangana.

By Chanel | February 03, 2023 10:51 AM Read more
Centre to launch DBT for paying apprenticeship stipend

In order to make apprenticeships more attractive, the Centre plans to pay 25%of the stipend (up to ₹1,500 per apprentice) through a direct benefit transfer (DBT) scheme.

By Shivani | February 03, 2023 10:41 AM Read more
Telco sector revenue may appreciate by 30% in FY24

Estimated revenue may surge by 30% to ₹89,469.17 Crores in FY24. The majority chunk of this income is likely to come from deferred spectrum auction payments.

By Shivani | February 03, 2023 10:34 AM Read more
Over 50% people likely to shift to new tax regime: Revenue Secretary

The government is positive that this shift could occur due to its attractive benefits, but reports state that opting for the old one will offer more savings to housing property buyers.

By Aadeesh | February 03, 2023 10:28 AM Read more
Unacademy staff to be rewarded with stock options

While addressing his employees, the CEO informed them that instead of having their FY23 cash appraisals, they will be given stock options.

By Chanel | February 03, 2023 10:16 AM Read more
Hinduja Group gets approval to increase its stake in Induslnd Bank

The Hinduja Group-owned entity, Induslnd International Holdings Ltd. is set to increase its stake in the bank to 26% and may infuse ₹10,000 Crores in the company.

By Friyana | February 03, 2023 10:12 AM Read more
Ashok Leyland surpasses expectations with Q3FY23 performance

The profit after tax for Q3FY23 was ₹361 Crores, which is an exponential hike from the ₹6 Crores recorded during the same period a year ago.

By Friyana | February 02, 2023 04:03 PM Read more
IDFC First Bank to receive funding of ₹2,200 Cr. from IDFC Ltd.

IDFC Ltd. is looking to expand its stake in the lender from the current 36.38% to 40% through this investment, hoping to support IDFC First Bank on its growth journey.

By Shivani | February 02, 2023 03:38 PM Read more
Britannia Industries’ shares achieve record high gains in Q3

Britannia’s shares rose by 5.1% to hit ₹4,595. This occurred a day after the company posted more than double its profits in Q3 FY23, compared to the last quarter.

By Aadeesh | February 02, 2023 03:14 PM Read more
Delhi Govt. sanctions ₹2,000 Cr. to pay MCD employees’ salaries

During the MCD elections, CM Arvind Kejriwal had promised employees that efforts will be made to disburse their pending salaries. Some of them last received their pay in September 2022.

By Shivani | February 02, 2023 03:04 PM Read more
Budget 2023: New small-savings option for women launched

In the 2023 Budget, FM launched a 2-year small-savings plan for women called the Mahila Samman Savings Certificate, wherein one can deposit up to ₹2 Lakhs.

By Friyana | February 02, 2023 02:02 PM Read more
Bitcoin gains 3.29%, Solana and Ethereum rise in value

Experts believe that this was caused by the US Federal Reserve’s decision to hike rates and certain comments from the regulatory body’s Chairman.

By Aadeesh | February 02, 2023 01:54 PM Read more
Insurance companies’ shares fell by about 11% post Budget announcement

Stocks of LIC, SBI Life, HDFC Life, and ICICI Prudential Life fell due to an attractive NTR making life insurance policies lose their appeal as tax-saving tools.

By Shivani | February 02, 2023 01:34 PM Read more
Rupee opens 11 paise higher against weakening USD 

INR opened at ₹81.82 per US Dollar as against its previous close of ₹81.93. The currency may appreciate amidst rising global risk appetites and a weakened USD.

By Friyana | February 02, 2023 01:20 PM Read more
Budget 2023: Govt. sets gross borrowing at over ₹15 Trillion

It was revealed that the Centre’s gross borrowing ticked up by 8.4% YoY. The same has been set to ₹15.4 Trillion for FY24. It could aid in addressing the fiscal deficit of 5.9%.

By Shivani | February 02, 2023 01:18 PM Read more
Udupi man loses nearly ₹1 Lakh after fake FASTag helpline call

The victim, Francis Pius, was on his way to Mangalore from Brahmavara, Udupi when he called the helpline number to recharge his FASTag balance.

By Aadeesh | February 02, 2023 01:15 PM Read more
Cyber cell saved over ₹4 Crores from conmen last year

The cell registered 144 such cases in 2022, marking the highest number of logged incidences since its commencement in 2010. In 2020, they only recorded 80 FIRs.

By Aadeesh | February 02, 2023 12:05 PM Read more
BoB levies 1% fee on rental payments made via credit cards

With effect from 1st February 2023, the Bank of Baroda will charge a 1% fee on all transactions made for rent payment using a credit card.

By Friyana | February 02, 2023 12:02 PM Read more
Duo uses power fail error to rob ATMs

The latest incident occurred on January 5, in Pune, and police are still searching for the suspects. While the guard failed to observe them, the act was captured via CCTV.

By Chanel | February 02, 2023 11:47 AM Read more
Adani Enterprises recalls FPO; stock prices crash

After witnessing a 28.5% drop in share price, Adani Group decided to recall their ₹20,000 Crore FPO. Following this, major stocks of the company hit their lower circuits.

By Friyana | February 02, 2023 11:16 AM Read more
Budget 2023 raised custom duty on gold, silver

The Finance Minister also stated that gold to e-gold conversions will not be liable for capital gains. Meanwhile, gold futures surged by 1.04% to hit ₹57,785 per 10 grams.

By Chanel | February 02, 2023 11:14 AM Read more
Adani Group adds to collateral cover on $1 Billion loan

This was done in order to keep its collateral cover steady after a sharp spike in its share offloading, owing to Hindenburg Research’s allegations of fraud.

By Aadeesh | February 02, 2023 11:13 AM Read more
Budget 2023 to boost rural India: PM

While addressing the nation shortly after the announcement of the Union Budget 2023, PM Narendra Modi congratulated the Finance Minister on a ‘historic budget’.

By Friyana | February 02, 2023 10:37 AM Read more
WhatsApp: Users not bound by 2021 privacy policy

On 1st February 2023, the Supreme Court ordered WhatsApp to publish ‘full-page ads on two occasions in five national dailies’ to inform users of the same.

By Chanel | February 02, 2023 10:35 AM Read more
Budget 2023 unlikely to delay RBI’s rate pause

Some economists believe the recent Budget 2023 speech was meant to increase consumption via lowered taxes, but it is unlikely to delay RBI's path to rate pause.

By Chanel | February 02, 2023 10:33 AM Read more
Financial sector laws likely to focus on investor protection and more

The sector’s laws are due for an overhaul as the government is looking to make efforts to push regulators and itself to adapt to India’s growing demands.

By Aadeesh | February 02, 2023 10:25 AM Read more
Income, Corporate Tax revenues may surge by over 10% in FY24

In the Budget 2023 announcement, the Centre forecasted corporate and individual income tax collections to surge by 10.5% to ₹18.23 Lakh Crores in the fiscal of 2023-24.

By Shivani | February 02, 2023 10:01 AM Read more
Impact of Budget 2023 on Indian citizens

The Finance Minister proposed some major changes via her Budget 2023 announcement, which will have significant implications for Indian citizens.

By Shivani | February 01, 2023 03:10 PM Read more
Budget 2023: Effective CAPEX budgeted at over ₹13 Lakh Crores

Under Budget 2023, the Centre has estimated the effective capital expenditure at over ₹13 Lakh Crores, i.e., 4.5% of India’s GDP.

By Sajhyadri | February 01, 2023 01:59 PM Read more
Budget 2023: Developments in tourism sector

The FM introduced major changes for the tourism sector in Budget 2023, with a focus on job creation for youth and attracting domestic & foreign tourists.

By Sajhyadri | February 01, 2023 01:10 PM Read more
Budget 2023 aids Fisheries sector

FM announced the launch of a new sub-scheme under the PM Matsya Sampada Yojana, which will have a budget of ₹6,000 Crores.

By Aadeesh | February 01, 2023 01:04 PM Read more
FM: Free food grain for 1 year, India to be global hub for 'Sri Anna'

To make sure that citizens are at ease, the Centre will give out free food grains.

By Shivani | February 01, 2023 12:37 PM Read more
Green developments under India’s sustainable goals

In terms of India’s sustainable goals, the budget speech revealed that major progress has been made, including several milestones.

By Aadeesh | February 01, 2023 12:18 PM Read more
Modern technologies to be brought to Indian farms

During the Budget speech, the Finance Minister announced of a new Agriculture Accelerator fund and other initiatives to aid Indian farmers.

By Aadeesh | February 01, 2023 12:07 PM Read more
Budget 2023’s update on EPFO membership

The doubled figures of EPFO memberships is a positive indicator, says Finance Minister Nirmala Sitharaman

By Aadeesh | February 01, 2023 11:57 AM Read more
7 priorities of Budget 2023

India’s Finance Minister, during her speech at the Parliament, revealed the budget’s top priorities include youth empowerment, roll out of digital structures, etc.

By Shivani | February 01, 2023 11:48 AM Read more
FM: Per Capita income increased by over 2x

The Indian economy has seen significant growth in the last decade, says Finance Minister Nirmala Sitharaman.

By Shivani | February 01, 2023 11:35 AM Read more
FM predicts 7% growth for Indian economy

The Budget 2023 revealed that the country’s gross borrowing target for FY24 has been kept at ₹15.43 Lakh Crores, along with a fiscal deficit target of 5.9%.

By Sajhyadri | February 01, 2023 11:20 AM Read more
Key expectations of Indian citizens from Budget 2023

With the Union Budget 2023-24 being announced today, let’s take a look at the key expectations of different Indian sections like the salaried, middle class, and women.

By Chanel | February 01, 2023 09:04 AM Read more
India’s services sector saw growth at 8.4% in FY22: Survey

The Economic Survey 2022-23 was tabled by the Finance Minister, Nirmala Sitharaman on Tuesday, 31st January 2023, which mentioned this finding and more.

By Aadeesh | January 31, 2023 04:29 PM Read more
RBI may hike repo rates by 25 bps in Feb

A week after the announcement of the Union Budget 2023 on February 1, RBI is expected to hike its rate and maintain it at 6.50% throughout the year.

By Friyana | January 31, 2023 04:29 PM Read more
OLX set to layoff 1,500 employees globally

At present, the number of affected Indian employees of the company has not yet been determined, but the operations and engineering teams could be hit the worst.

By Aadeesh | January 31, 2023 03:50 PM Read more
InCred to raise over ₹1,200 Crores

In order to fund further expansion of the company, InCred is currently looking to raise about $150 Million.

By Friyana | January 31, 2023 03:39 PM Read more
Boosted construction activities, realty buoyancy generated jobs

The ‘Economic Survey for FY23’ stated that buoyance in the real estate segment, along with increased construction undertakings by realty players, served to create more jobs in FY23.

By Shivani | January 31, 2023 03:38 PM Read more
India’s gold consumption falls by 3% in 2022

This was due to rallying gold prices of the yellow metal coming close to record high values in the December quarter, according to data from the World Gold Council.

By Aadeesh | January 31, 2023 03:15 PM Read more
IDFC FIRST Bank partners with ToneTag

ToneTag and IDFC FIRST Bank aim to provide the Central Bank Digital Currency (CBDC) service to merchant outlets as part of this collaboration.

By Friyana | January 31, 2023 02:54 PM Read more
Budget 2023: Expectations regarding NRI taxation

Budget 2023 is expected to support the government’s focus towards easing and improving the taxation for NRIs, along with other developmental changes.

By Aadeesh | January 31, 2023 02:26 PM Read more
Impossible Foods to fire around 20% of employees

Impossible Foods Inc. plans to lay off more than 100 employees, as the plant-based market logs weaker sales and revenue numbers.

By Shivani | January 31, 2023 02:17 PM Read more
Nagpur military weapon facility faces cyberattack

Solar Industries India Limited’s critical military data was compromised and put up for sale online. The attack was executed by a gang called ‘BlackCat’ or ‘ALPHV’.

By Shivani | January 31, 2023 01:44 PM Read more
Budget 2023: More incentives expected for agricultural schemes

The Union Budget 2023, set to be announced on 1st February 2023, is expected to bring further changes in agricultural schemes like the Kisan Credit Card.

By Friyana | January 31, 2023 12:49 PM Read more
Budget 2023: Expectations of top tech officials

Tech execs hope for more tax exemptions, increased funding for digital public infrastructure, the creation of a complete component system, etc.

By Shivani | January 31, 2023 12:47 PM Read more
Budget 2023: Pune realtors seek more tax exemptions

To support and further boost housing demand, Pune realty players hope that the Centre will announce tax exemptions for home loan interest and house rent, among other measures.

By Shivani | January 31, 2023 12:14 PM Read more
Finland invites Indian techies for work amidst global layoffs

Finland is looking to increase its work-based migration by two-fold and its study-based migration by three times before 2030.

By Aadeesh | January 31, 2023 12:04 PM Read more
Budget 2023: Defence sector’s expectations

The government might hike the budget allocated to the defence sector by 10% to 20% in the upcoming Union Budget 2023 to boost the indigenisation of the sector.

By Friyana | January 31, 2023 12:03 PM Read more
Budget 2023: Expectations from the education sector

The education sector is expecting positive changes from the upcoming budget and is looking closely at its allocation after crossing the ₹1 Lakh Crore mark for the first time.

By Aadeesh | January 31, 2023 11:40 AM Read more
RBI to auction new 10-year government bonds

On 3rd February 2023, during the auction, RBI will put up 3 securities on sale, including a fresh issue of a 10-year paper worth ₹12,000 Crores.

By Friyana | January 31, 2023 11:29 AM Read more
SBI to pool about $500M via green bonds

SBI hopes to raise around $500 Million (approx. ₹4,084 Crores) via green bonds, the proceeds of which will be used for financing sustainability-oriented projects.

By Shivani | January 31, 2023 11:22 AM Read more
Budget 2023: Salaried employees’ expectations

They expect the Union Budget 2023 to bring in changes in tax exemptions via investments, with raised deductions u/s 80C of the Income Tax Act, 1961.

By Chanel | January 31, 2023 11:07 AM Read more
New NPS subscribers fell 11% during April-November last year

National Statistics Office data revealed that only 2.85 lakh new state government employees registered for the NPS in 2022, compared to 3.21 lakh in 2021.

By Aadeesh | January 31, 2023 10:51 AM Read more
Philips to layoff 6,000 global workers by 2025

The tech giant revealed that the first half of the global downsizing will take place this year with the remaining half concluding by 2025.

By Chanel | January 31, 2023 10:31 AM Read more
Nippon Life India AMC notes 18% YoY hike in PAT

The company announced its third quarter performance results for FY23 on Monday, 30th January 2023. It noted a 5% rise in its total income at ₹416 Crores.

By Friyana | January 31, 2023 10:27 AM Read more
Physics Wallah to increase employee headcount by 2,500

Amid increasing layoffs, especially in the ed-tech industry, Physics Wallah plans to hire about 2,500 employees to fill positions of teachers, counsellors, data analysts, etc.

By Shivani | January 31, 2023 10:22 AM Read more
Bajaj Finserv’s net profit rises 42% to ₹1,782 Crores in Q3FY23

The company’s overall profits that quarter grew by 23% to ₹21,755 Crores, compared to ₹17,620 Crores in the previous year.

By Aadeesh | January 31, 2023 10:10 AM Read more
India’s inflation expected to drop to 5% in 2023

The International Monetary Fund revealed this via their World Economic Outlook update. It added that this decline is likely owed to the central bank’s actions.

By Chanel | January 31, 2023 09:56 AM Read more
PFRDA: Over 5 crore subscriptions recorded under Atal Pension Yojana

In an official statement released by PFRDA on Monday, 30th January 2023, the scheme further recorded 1.25 crore new subscribers in 2022 as against 92 lakhs in 2021.

By Friyana | January 31, 2023 09:51 AM Read more
21K people laid off by startups to date

Budding businesses have handed pink slips to over 21,000 people to date, citing a funding drought and economic headwinds like rising recession fears.

By Shivani | January 31, 2023 09:48 AM Read more
Man duped of ₹49,500 over parcel delivery

The victim was conned while trying to get his Bluetooth device worth ₹1,149 delivered early after the fraudster notified him that it was stuck in transit.

By Friyana | January 30, 2023 05:53 PM Read more
AMCs to adopt T+2 settlement cycle for equities

AMFI ruled all AMCs take up the T+2, i.e., ‘trade plus two days’, settlement cycle for Indian equities, to benefit investors and make sold assets available more quickly post-sale.

By Shivani | January 30, 2023 05:33 PM Read more
Salaries of senior company executives rise by over 9% in 2023

A study by Aon, an international professional services company, revealed this data. It stated that CEOs receive an average pay of ₹8.4 Crores, marking a 21% increase in 4 years.

By Aadeesh | January 30, 2023 05:32 PM Read more
Gold prices remain flat amidst mixed global cues

Gold April futures traded at ₹57,229 per 10 grams on MCX, while silver hiked by 0.21% with March futures trading at ₹68,470 per kg on MCX.

By Friyana | January 30, 2023 05:09 PM Read more
CSR spends could cover skill training of individuals

The Ministry of Skills Development and Entrepreneurship is vouching for the concept of ‘Gift a Skill’ to be linked to either e-Rupi or ‘skill vouchers’.

By Aadeesh | January 30, 2023 05:01 PM Read more
Budget 2023: Women’s expectations from the FM

Women are keenly waiting for the Finance Ministry to announce some lucrative policies that will help bridge the gender gap and help them achieve financial independence.

By Shivani | January 30, 2023 04:46 PM Read more
Budget 2023: Tax clarity, relaxations expected in AIFs

A pass-through status is expected to be granted to Category III AIFs, while further clarity on taxes applicable on interest earned might be provided in the Budget.

By Friyana | January 30, 2023 04:32 PM Read more
Budget 2023: Expectations from India’s middle class

The middle class has big expectations from the Budget to make their lives easier, such as increased deduction limits, improved spending power, and other basic exemptions.

By Aadeesh | January 30, 2023 03:58 PM Read more
ArcelorMittal infuses $120 M in ‘green steel’ producer

The fund will be utilised to expand the pilot plant of the company located in Boston and for the construction of a new site in Brazil.

By Friyana | January 30, 2023 03:53 PM Read more
Budget 2023: Realty sector expects pro-growth policies

The realty sector is keenly waiting for the Budget 2023 announcement, expecting the Centre to support growth via policies that encourage potential buyers to invest in real estate.

By Shivani | January 30, 2023 03:46 PM Read more
Budget 2023: Centre may continue with CPSE privatisation plan

The Centre is unlikely to change the privatisation plan for CPSEs and may go ahead with the sale of companies like NMDC Steel Limited, IDBI Bank Limited, etc.

By Shivani | January 30, 2023 03:15 PM Read more
RBI Governor: ‘The worst of the inflation crisis is behind us’

At an annual meeting held in Dubai on Friday, RBI Governor Shaktikanta Das said that the worst of inflation, growth and currency volatility is behind us.

By Friyana | January 30, 2023 03:06 PM Read more
Temasek stays invested in Adani Ports

The Straits Times revealed that Temasek will remain invested in Adani Ports and SEZ despite the criticism faced by Adani Group from the Hindenburg Research report.

By Aadeesh | January 30, 2023 03:04 PM Read more
32% of Mizoram only aware about savings accounts

This was learned through a field study conducted by RBI in Mizoram. It looked into the present scenario of financial literacy and inclusion within the state’s population.

By Aadeesh | January 30, 2023 01:49 PM Read more
India Post announces 40,889 Gramin Dak Sevak vacancies

Eligible candidates may apply for the posts of Dak Sevak, Assistant Branch Postmaster, and Branch Postmaster by February 16 on India Post’s official website.

By Friyana | January 30, 2023 01:14 PM Read more
RBI’s ban on SBM Bank impacts fintechs

Fintechs such as Vested Finance and INDmoney were impacted by RBI's ban on SBM Bank, prohibiting it from participating in outward remittance transactions, i.e., forex.

By Shivani | January 30, 2023 01:08 PM Read more
Active Indian IT job vacancies fall by 60% in Jan

Market experts claim that tech firms are cautious about adding new employees due to factors like a poor macroeconomic outlook, recessionary fears and demand concerns.

By Aadeesh | January 30, 2023 12:48 PM Read more
Budget 2023: Top income tax expectations of the common man

29% of people wish for the government to revise the income tax slabs to lower their tax burden, while 27% asked for more deductions u/s 80c of the IT Act, 1961.

By Friyana | January 30, 2023 12:28 PM Read more
Google CEO to bear salary cut amidst layoffs

Days after Google LLC’s 12,000 employee layoff spree, CEO Sundar Pichai decided to bear the brunt of economic headwinds by accepting a significant pay cut.

By Shivani | January 30, 2023 12:25 PM Read more
Institutional investors to backup Adani’s ₹20,000 Cr FPO

Institutional investors are ready to completely back Adani’s FPO even as the share price falls below the offer price.

By Friyana | January 30, 2023 11:45 AM Read more
219 tech firms fire 68,000 employees in Jan'23

This data was revealed by a tracking website called Layoffs.fyi, signalling a rapid increase compared to 2022, wherein over 1,000 companies let go of 1,54,336 workers.

By Aadeesh | January 30, 2023 11:38 AM Read more
Zoho’s net profits surged by about 43% YoY in FY22

In FY2022, Zoho Corporation logged a net profit stronger by 43% YoY at ₹2,700 Crores. Its operations revenues ticked up to hit ₹6,711 Crores in the same fiscal.

By Shivani | January 30, 2023 11:35 AM Read more
DealShare cuts down 6% of workforce

Sourjyendra Medda, Co-CEO and Founder of DealShare, mentioned that the move was done to rationalise their expenses and re-examine some projections.

By Aadeesh | January 30, 2023 11:05 AM Read more
Bitcoin soared to surpass $23,000 last week

In the week between 23rd-27th January, Bitcoin surged to trade at $23,218 (around ₹18.95 Lakh). Experts expect the asset to face little volatility till February 2023.

By Shivani | January 30, 2023 10:54 AM Read more
SEBI may direct large mutual fund houses to bring down fees

The markets regulator announced in December 2022 that it started an internal study to re-examine fees charged to unitholders by fund houses.

By Aadeesh | January 30, 2023 10:32 AM Read more
Budget 2023: Equities in red ahead of 1st Feb

Pre-budget market performance was recorded in the negative for the 2nd time in the last 10 budget announcements. The domestic market fell by 2.4% last week.

By Friyana | January 30, 2023 10:20 AM Read more
Over ₹17,000 Cr of FPI equity outflows logged in Jan’23

As FPIs eye the reopened Chinese economy and endure global headwinds, like a potential recession and soaring commodity rates, they’ve begun withdrawing from the Indian equity market.

By Shivani | January 30, 2023 10:05 AM Read more
Budget 2023: Centre may announce proposals to aid startups

The government may announce some fresh initiatives to support budding businesses in different growth stages, to inspire more investments in the same as well.

By Shivani | January 27, 2023 07:39 PM Read more
IBM to hand pink slips to 3,900 workers

On 25th January 2023, the company’s Chief Finance Officer, James Kavanaugh revealed the news of 3,900 job cuts, during an interview.

By Friyana | January 27, 2023 05:47 PM Read more
Goldman Sachs may partially withdraw from consumer banking

After logging consumer-banking losses of $3 Billion, the firm may refocus its operations to be centric on investments, trade, and advisory services.

By Shivani | January 27, 2023 05:15 PM Read more
Bajaj Finance’s net profits likely to grow by 38% in Q3 FY23

This anticipated growth is due to strengthened disbursals and firm quality of assets. An average estimate stated that its net profits could be ₹2,928 Crores.

By Aadeesh | January 27, 2023 05:02 PM Read more
Tech professionals looking for more secure jobs in midst of layoffs

The recent wave of layoffs at many major tech companies globally has prompted employees to seek secure avenues, owing to job security concerns.

By Aadeesh | January 27, 2023 04:59 PM Read more
Weekly Markets: Sensex shed over 1,000 pts; Closed under 60,000

While Indian indices began the trading week positively, they lost these gains to volatility. Friday ended with Sensex and Nifty at 59,330.90 and 17,604.30, respectively.

By Chanel | January 27, 2023 04:54 PM Read more
SAP to lay off about 3,000 employees

Following the trend of major layoffs in the IT sector, SAP announced its plan to sack about 2.5% of its global workforce on Thursday.

By Friyana | January 27, 2023 04:45 PM Read more
Cars24 to recruit over 500 employees across verticals

Cars24’s CEO stated that they’re looking for talented and bright minds to fill in different roles. They hope to hire individuals that share the firm's values.

By Chanel | January 27, 2023 04:29 PM Read more
EPFO to cut down pension of ineligible subscribers

Some subscribers who retired before 1st September 2014 have been getting more pensions than they are eligible for. EPFO is going to review and reinstate the correct pensions.

By Shivani | January 27, 2023 04:27 PM Read more
Odisha police hiring gets a 4-year relaxation in age limit

On 24th January 2023, the Orissa High Court ordered the Odisha Police Recruitment Board to provide a one-time 4-year relaxation in age limit.

By Friyana | January 25, 2023 05:53 PM Read more
Indian firms may takeover 8% of global SaaS market in 5 years

Indian SaaS firms are likely to earn $35 Billion in annual recurring revenue (ARR), along with the 8% takeover, according to a study released by Bain & Company.

By Aadeesh | January 25, 2023 05:12 PM Read more
Job creation across ESIC and EPFO revives post October fall

The number of formal jobs created across ESIC and EPFO rose slightly in November 2022, shortly after falling in the previous month.

By Shivani | January 25, 2023 04:32 PM Read more
Women SHGs to get extra 2% interest subsidy on loans in MP

In the cabinet meeting, it was decided that the interest subsidy for women SHGs will be increased from the previous 3% to 5% on bank loans of up to ₹3 Lakhs.

By Friyana | January 25, 2023 04:25 PM Read more
Zomato’s shares fall 15%, marks lowest record since July 2022

Zomato’s stock hit a new six-month low of ₹44.35 on BSE, despite having a strong trade volume, during Wednesday’s intra-day trade, on 25th January 2023.

By Aadeesh | January 25, 2023 03:53 PM Read more
Microsoft: Azure cloud business likely to decelerate

The company revealed its performance results on January 24, showing a 2% revenue growth with help from its Azure cloud computing business amidst a weak economy.

By Friyana | January 25, 2023 02:39 PM Read more
Walmart raises employees' average salary to over $17

The new average pay is now 2.9% more than the previous amount and is 6.7% higher than in September 2021.

By Aadeesh | January 25, 2023 01:27 PM Read more
Innovaccer lays off 15% of its workforce

The health tech start-up company let go of 245 workers, amounting to 15% of its workforce, in line with the company’s realignment process.

By Friyana | January 25, 2023 12:01 PM Read more
3M to lay off 2,500 global manufacturing workers

The firm cited an underwhelming outlook for 2023 and poor profits for the upcoming layoffs. It’s yet to disclose details of the affected sectors or locations.

By Chanel | January 25, 2023 11:53 AM Read more
Tech firms look to benched workers in volatile market

During December 2022’s earnings announcements, several senior executives of such firms hinted at bringing back their benched strength to the ‘billable’ workforce.

By Aadeesh | January 25, 2023 11:26 AM Read more
Govt. might add slabs to the new income tax regime

The Centre might announce major changes like the addition of new tax brackets in the new income tax regime on 1st February 2023, under the Union Budget.

By Friyana | January 25, 2023 11:14 AM Read more
UCO Bank’s profit surges by 2x; hits ₹653 Crores

UCO Bank reported net profits greater by 2x, which appreciated from last year’s ₹310 Crores to hit ₹653 Crores. The growth was attributed to a lesser number of bad loans.

By Shivani | January 25, 2023 10:53 AM Read more
Microsoft’s Q3 FY23 profits declined 12% to $16.43 Billion

The company claims that the results were due to an uncertain economy, which resulted in the decision to let go of 10,000 employees.

By Aadeesh | January 25, 2023 10:52 AM Read more
EPFO considerers exiting IFCI investment

The Employees' Provident Fund Organisation (EPFO) is thinking about discontinuing its investment in the Industrial Finance Corporation of India (IFCI), due to diminishing ratings.

By Shivani | January 25, 2023 10:38 AM Read more
TeamLease, PeopleCert tie-up to upskill grads, corporate execs

They will offer Indian universities and corporates opportunities to learn new skills, with avenues to upgrade existing capabilities.

By Chanel | January 25, 2023 10:23 AM Read more
Finance Ministry reviews progress of govt. schemes with private banks

The Ministry of Finance held a meeting with leading private sector banks on 24th January 2023, to review their progress under the various social security schemes.

By Friyana | January 25, 2023 10:16 AM Read more
Banks depending on expensive market borrowings for lending

This is due to their apprehensions of being left with costly long-tenor term deposits at the turn of the interest rate cycle. Banks’ market borrowings saw a rise of 63% in 2022.

By Aadeesh | January 25, 2023 10:15 AM Read more
Indian Oil Corp. to invest over ₹2,200 Cr in Tamil Nadu projects

Investments will be made in projects aimed at geographic expansion and growth. One important project is the manufacturing of aluminium plates for aluminium-air batteries.

By Shivani | January 25, 2023 10:11 AM Read more
Indian firms to hire more women from campuses

To increase workplace diversity, companies like Vedanta Limited, Axis Bank, Tata Steel Ltd., and Cognizant have amped up the hiring of women from campuses.

By Chanel | January 25, 2023 09:37 AM Read more
RBI orders SBM Bank to halt outward remittance operations

Amidst concerns about material supervision, RBI has barred SBM Bank India from taking up any outward remittance business until further notice.

By Friyana | January 24, 2023 04:06 PM Read more
Import duty on gold may be reduced soon

The import duty applicable on gold may be slashed to under 12%, to address the issue of grey market operators smuggling the yellow metal for cash, in order to avoid taxes.

By Shivani | January 24, 2023 03:51 PM Read more
Gold prices touch new all-time high

February gold futures prices hiked to ₹57,099 per 10g on MCX to mark an all-time high. The rates of the yellow metal have increased by 4% so far in 2023.

By Friyana | January 24, 2023 03:26 PM Read more
Rashi Peripherals to raise ₹750 Crores through IPO listing

The Mumbai-based IT solutions company filed a DRHP with SEBI to raise ₹750 Crores through its IPO with completely fresh issues and no offer-for-sale.

By Friyana | January 24, 2023 02:22 PM Read more
AU Bank introduces new credit card platform called SwipeUp

Using the new platform, customers will be able to compare existing cards quickly and then upgrade the credit limit, reward points, and cashback using a digital end-to-end process.

By Aadeesh | January 24, 2023 02:06 PM Read more
Tech sector looking to Budget 2023 for accelerating Digital India push

The tech industry is hoping the coming Budget 2023 will emphasise newly emerging tech, the ease of doing business and skilling, which will help develop the sector.

By Aadeesh | January 24, 2023 01:03 PM Read more
BOB Financial Solutions launches co-branded credit card ‘Vikram’

In collaboration with RuPay, it’s dedicated to serving individuals in the police, paramilitary, and other Indian defence personnel, ahead of the 74th Republic Day.

By Shivani | January 24, 2023 01:00 PM Read more
Govt. to amend GST law to revoke tax credits for businesses

For this, the union government is likely to make amendments to Sections 16 and 17 of the Central Goods and Services Tax Act, 2017, through the Finance Bill of 2023.

By Friyana | January 24, 2023 12:48 PM Read more
Shopsy’s customer base grew by 6x in 2022

Shopsy saw its customer base grow by 6x last year, along with an increased number of product listings by sellers, amounting to a 5x growth.

By Shivani | January 24, 2023 11:38 AM Read more
ECLGS saved 14.6 lakh MSMEs post-pandemic: SBI Report

On Monday, 23rd January 2023, SBI’s special report about the MSME sector revealed this information. It was authored by Soumya Kanti Ghosh, SBI’s Group Chief Economic Adviser.

By Aadeesh | January 24, 2023 11:35 AM Read more
Zomato CEO announces 800 job openings

This was announced on LinkedIn, stating that the vacancies are available across 5 roles. It was also revealed that Zomato Instant is undergoing a business rebranding.

By Chanel | January 24, 2023 11:24 AM Read more
Microsoft to invest $10 Billion in OpenAI

On 23rd January 2023, Microsoft revealed that it was in talks with OpenAI, hoping to make a ‘multiyear, multibillion-dollar' investment in the latter.

By Friyana | January 24, 2023 11:05 AM Read more
RBL, ICICI Bank, Axis Bank hike fixed deposit interest rates

The banks have increased their fixed deposit interest rates in order to meet growing credit needs across the nation and raise the necessary capital for the same.

By Shivani | January 24, 2023 10:56 AM Read more
NARCL acquires Jaypee Infratech’s bad loan worth ₹9,234 Crores

Banks have finished moving the bad loan to NARCL, which marked the first-ever acquisition of the bad loan aggregator, after the company commenced operations a year ago.

By Aadeesh | January 24, 2023 10:50 AM Read more
Budget 2023 may focus on larger CAPEX, lower fiscal deficit

While the Union Budget 2023 will address targets and other challenges, it will also have to strike a balance, likely via augmented spending to support growth.

By Chanel | January 24, 2023 10:45 AM Read more
NCLT orders continuation of status quo for Reliance Capital case

The National Company Law Tribunal’s Mumbai bench stated that they did not find much reason to not continue the direction until their verdict at the end of January.

By Aadeesh | January 24, 2023 10:24 AM Read more
RBI launches a 'fully accessible route' for foreign investors

Under the provision of the newly launched fully accessible route (FAR), foreign investors will be allowed to invest in government securities such as SGBs without any restrictions.

By Shivani | January 24, 2023 10:17 AM Read more
Yes Bank will not pay past unpaid interest to AT-1 bondholders: CEO

Prashant Kumar, CEO of Yes Bank, declared this despite the Bombay High Court revoking the write-off of these bonds under the bank’s reconstruction scheme.

By Friyana | January 24, 2023 10:11 AM Read more
Centre’s borrowing record may hit ₹16 Lakh Crores in FY24

This was predicted in a Reuters poll that considered the opinions of 43 economists. Previously, the estimated gross borrowing was ₹14.2 Lakh Crores in FY23.

By Chanel | January 24, 2023 10:07 AM Read more
IDBI Bank’s profit after tax hiked by 60% in Q3

IDBI Bank also stated on Monday, 23rd January 2023 that its interest income surged by 13% to ₹5,231 Crores in Q3FY2023. The same statistic stood at ₹578 Crores last year.

By Shivani | January 24, 2023 08:54 AM Read more
IndiGrid set to buy 100% stake in Khargone Transmission

As per an official notification released on January 21, Indi Grid Trust signed an agreement to buy 100% stake in Khargone Transmission at around ₹1,497.5 Crores.

By Friyana | January 23, 2023 06:40 PM Read more
Gold and silver continue offering high yields in 2023

Upticks continue for both metals, where gold funds offered investors up to 13.54% returns and silver recorded up to 23.92% returns in the last three months.

By Sajhyadri | January 23, 2023 06:00 PM Read more
REITs surge as other asset classes note negative returns

The Real Estate Investment Trust was resilient, providing positive returns as against other asset classes. However, some of its sheen was stolen by FDs in H2 of 2022.

By Friyana | January 23, 2023 05:47 PM Read more
Federal Bank announced fresh savings account interest rates

Federal Bank Limited recently took to its official website to announce fresh interest rates, which were made effective from Monday, 23rd January 2023.

By Shivani | January 23, 2023 05:45 PM Read more
Axis Bank to host ‘Bankathon 2.0 - Open to Possibilities’

The two-day hackathon event will start on 20th January 2023, aimed at identifying threats to the banking industry and developing a working prototype against them.

By Shivani | January 23, 2023 04:58 PM Read more
Bandra woman duped of ₹2.5 Lakhs in cyber fraud

Under the pretext of earning by liking YouTube videos, an imposter lured a 40-year-old woman from Bandra to pay the amount.

By Friyana | January 23, 2023 04:56 PM Read more
Indian banks hire more amidst global layoffs

As per the Q3FY23 results announced by Indian banks, thousands of individuals were hired in the previous quarter, while global banks noted massive layoffs.

By Friyana | January 23, 2023 03:47 PM Read more
Employee union to appeal to labour department regarding Wipro’s layoffs

The Nascent Information Technology Employees Senate (NITES) is going to appeal to the labour union on the grounds that Wipro Limited fired 452 freshers ‘unethically’.

By Shivani | January 23, 2023 03:43 PM Read more
InMobi lays off around 70 employees

In January 2023, India’s first unicorn company, InMobi, gave the pink slip to about 50-70 employees, citing it to be an annual, performance-based process.

By Shivani | January 23, 2023 03:11 PM Read more
BharatPe opens hiring

Fintech platform, BharatPe has begun hiring for the post of product manager. The firm’s Chief Product Officer, Ankur Jain, provided relevant details on LinkedIn.

By Friyana | January 23, 2023 03:03 PM Read more
Spotify likely to hold layoffs soon

The streaming platform is the latest among large firms to tackle costs via job cuts. Previously, the company had laid off around 38 workers in October 2022.

By Sajhyadri | January 23, 2023 02:50 PM Read more
Canara Bank’s net profit soared by 92% last quarter

The public sector bank’s net profits surged by 92% to hit nearly ₹2,881 Crores in Q3FY2023, owing to a lesser number of bad loans and increasing interest revenues.

By Shivani | January 23, 2023 02:15 PM Read more
Atal Pension Yojana enrolments soared by 36%

The number of people subscribing to the Atal Pension Yojana (APY) scheme soared by 36% in 2022 to 1.25 crores, comparable to a year ago period’s statistic of 0.92 crores.

By Shivani | January 23, 2023 01:21 PM Read more
Gold Industry hopes for more transparency in Budget 2023

India’s jewellery industry wants key measures from the budget, that will bring greater organisation and help it grow into a leading global trade centre.

By Sajhyadri | January 23, 2023 12:55 PM Read more
Genesis files for bankruptcy

The cryptocurrency lending firm filed for Chapter 11 bankruptcy protection on 19th January 2023. It owes dues worth $3.5 Billion (around ₹28,436 Crores), payable to 50 creditors.

By Shivani | January 23, 2023 12:46 PM Read more
SEBI launches municipal bond database for better transparency

The information database was launched by SEBI’s whole-time member, Ashwani Bhatia, at a two-day event on municipal finance and bonds in New Delhi.

By Chanel | January 23, 2023 12:20 PM Read more
SBI Life records new business premium of ₹21,512 Crores

The insurance firm registered this amount till 31st December 2022, marking a 22% YoY rise in new business premiums, along with a PAT of ₹944 Crores in this period.

By Sajhyadri | January 23, 2023 12:10 PM Read more
Passive ELSS schemes may attract more investors

After SEBI permitted mutual funds to launch passive ELSS funds in early January 2023, it is likely that, due to their lower expense ratio costs, they may attract new investors.

By Shivani | January 23, 2023 11:52 AM Read more
Universal health cover could cut down costs

CII National Committee on Insurance and Pensions' Chairman, Tapan Singhel, believes that India’s ‘missing middle’ could be covered under such schemes.

By Chanel | January 23, 2023 11:50 AM Read more
Eknath Shinde confident about old pension scheme

Maharashtra’s Chief Minister said, at a campaign rally, that the education department is examining the scheme that was made for teachers and government employees.

By Sajhyadri | January 23, 2023 11:05 AM Read more
Tech layoffs leave older people unfazed

Experts believe that the generational divide between Millennials and Gen Z, and Baby Boomers and Gen X is more evident now, owing to their distinct reactions.

By Chanel | January 23, 2023 11:01 AM Read more
Multiple small cap stocks surged by almost 26%

Small caps like Lloyds, Goodluck India, and SEPC recorded an uptick of almost 26% in a generally muted market, being impacted by global economic slowdown fears.

By Shivani | January 23, 2023 10:55 AM Read more
Diamond production down by 21%; Around 10K workers laid off

The Gems & Jewellery Promotion Council’s Regional Chairman has denied allegations that workers have been laid off, but labourers continue to voice their concerns.

By Chanel | January 23, 2023 10:16 AM Read more
Adani may spinoff some businesses by 2028

Adani Group may spin off businesses like airports, hydrogen, and data centres by 2028. These are currently in their nascent stages, under Adani Enterprises Limited.

By Shivani | January 23, 2023 09:56 AM Read more
Insurers hope for tax concessions in Budget 2023

A year ahead of the Lok Sabha 2024 elections, Indian insurers have raised their expectations for more tax concessions to be announced during Budget 2023.

By Chanel | January 23, 2023 09:36 AM Read more
Bajaj Finance raises FD interest rates up to 8.10%

The NBFC raised the rates on FDs of tenors between 12 and 60 months by 40 bps. The change will apply to fresh deposits with effect from 20th January 2023.

By Sajhyadri | January 20, 2023 06:05 PM Read more
Weekly Markets: Indian indices end in red; Sensex sheds over 236 points

After a largely turbulent week, Sensex and Nifty 50 continued to endure volatile sessions. On the last day of the week, they ended at 60,621.77 and 18,027.65, respectively.

By Chanel | January 20, 2023 05:13 PM Read more
NRIs deposits came to ₹10.9 Lakh Crores in Nov 2022

RBI has reduced the figures for NRI deposit accounts for the end of October 2022 by ₹15,200 Crores to ₹10.7 Lakh Crores as per its January bulletin.

By Aadeesh | January 20, 2023 05:11 PM Read more
Trust Group starts new AIF ‘Athena Investments’

This new AIF includes a new open-ended SCS scheme without a lock-in period that will allow investors to earn high quarterly payouts from listed equities.

By Sajhyadri | January 20, 2023 04:05 PM Read more
IT Minister: ‘Cryptos pose no issues when all laws are adhered to’

On 19th January 2023, the IT Minister, Rajeev Chandrasekhar, contradicted RBI’s belief that cryptos are risky by saying that they pose no risks when all laws are followed.

By Shivani | January 20, 2023 04:04 PM Read more
Avanse Financial Services generates ₹800 Crores from Kedaara Capital

The funds will be used to expand the company’s presence and to develop India’s education ecosystem. Warburg Pincus remains its majority stakeholder.

By Aadeesh | January 20, 2023 03:18 PM Read more
Exotel let go of 80 employees

The SaaS start-up terminated the employment of 80 people after reporting poor performance statistics. It seeks to restructure its business and become more efficient.

By Shivani | January 20, 2023 03:06 PM Read more
WeWork to lay off around 300 workers globally

The flexible workspace provider decided the layoffs to reduce extra expenses across underperforming outlets and increase its revenue for Q4 of FY2023.

By Sajhyadri | January 20, 2023 02:55 PM Read more
Coforge announced interim dividend, payout record date

An interim dividend of ₹19 per share was announced by Coforge’s board of directors. They also scheduled the dividend payout to take place on 3rd February 2023.

By Shivani | January 20, 2023 02:35 PM Read more
Microeconomic stability rebounds as inflation cools: RBI

RBI in the January edition of its monthly bulletin stated that the country’s economic outlook is appearing to be optimistic and claimed that newer markets seem more resilient.

By Aadeesh | January 20, 2023 02:31 PM Read more
India likely to become $26 Trillion economy by 2047

This was revealed in a report released by Ernst & Young, on 18th January 2023. It could potentially make India one of the newest developed economies in the world.

By Aadeesh | January 20, 2023 01:21 PM Read more
India Post Payments Bank aims to break-even by FY2023-end

The bank has set a gross revenue target of over ₹500 Crores, with investments in tech and digitisation, along with a focus on small savings-based customers.

By Sajhyadri | January 20, 2023 01:00 PM Read more
LIC launches new savings insurance plan

It’s a beneficial combination of savings and protection, that’s been described as an individual non-participating savings life insurance plan.

By Chanel | January 20, 2023 11:27 AM Read more
Jubilant Foodworks to route ₹900 Crores towards expansion

The Indian food services provider announced that it plans to invest ₹900 Crores in the Indian market by opening another 250 Domino’s shops and 40-50 Popeyes stores.

By Shivani | January 20, 2023 11:20 AM Read more
SBI sanctions ₹20 Crore term loan to Red Fort Capital Finance

This loan will help the firm maintain sufficient liquidity and boost the expansion plans of its AUMs to ₹100 Crores before the end of the current fiscal year.

By Aadeesh | January 20, 2023 11:16 AM Read more
B Capital ends third growth fund series at ₹17,000 Crores

With the raised amount, the company will continue funding new opportunities in developing-stage startups and leverage its capabilities for growth investing around the world.

By Aadeesh | January 20, 2023 10:46 AM Read more
RBI: Easing commodity prices strengthened corporate performance

An RBI bulletin published on 19th January 2023 stated that corporate performance was boosted due to factors like easing commodity rates and increasing revenues.

By Shivani | January 20, 2023 10:46 AM Read more
Railway records ₹1,91,162 Cr revenue so far in FY23

In comparison, the Railways generated ₹1,48,970 Crores in the year-ago period. It has saved majorly after halting several concessions that it once provided to passengers.

By Chanel | January 20, 2023 10:35 AM Read more
Lower employee attrition observed in IT sector

IT sector employees are choosing to stay at their current organisations amid recession fears, geopolitical headwinds, and an easing demand in the job market.

By Shivani | January 20, 2023 10:16 AM Read more
Worst of inflation is likely behind us, says HUL CEO Sanjiv Mehta

He said this during HUL’s virtual conference for the third quarter earnings, held on Thursday, 19th January 2023. According to him, inflation contributed significantly to rural volume growth’s decline.

By Aadeesh | January 20, 2023 10:15 AM Read more
IT salary expectations dropped 40% in Dec’22

This fall has been attributed to cooling geopolitical concerns and recession fears. Industry experts believe that it will help companies recover their operating margins.

By Chanel | January 20, 2023 09:59 AM Read more
Hindustan Zinc to hold meeting over third interim dividend

In the last 12 months, the mining company has issued equity dividends worth ₹36.50 apiece. Meanwhile, on 19th January 2023, the board met to mull a third interim dividend.

By Sajhyadri | January 19, 2023 04:25 PM Read more
Elon Musk auctions Twitter bird statue for ₹81 Lakhs

Elon Musk had recently commenced a 27-hour-long online auction of items from the company’s headquarters in San Francisco, managed by Heritage Global Partners.

By Aadeesh | January 19, 2023 04:20 PM Read more
Centre announces bonus for PLI holders for FY24

The revised ‘Bonus’ rates will be applicable from 1st April 2023. Owners or nominees can make claims in event of the policyholder’s death or term maturity.

By Chanel | January 19, 2023 03:42 PM Read more
eRupee conversions into direct cash not permitted for now

eRupee will be issued to customers against their bank deposits by RBI, which would allow for its conversion into cash at some point.

By Aadeesh | January 19, 2023 03:09 PM Read more
RBI proposes ECL method to make provisions for bad loans

The expected credit loss (ECL) method will require banks to assess and identify the probability of bad loans ahead of time, making the lending sector more resilient.

By Shivani | January 19, 2023 02:52 PM Read more
PNB introduces credit card against FDs

The PSU tweeted about the new card launch on 19th January 2023, adding that the branded credit card will be useful for those unable to get a regular card.

By Sajhyadri | January 19, 2023 02:40 PM Read more
Tata Tech commences work on ₹4,000 Crore IPO

People with knowledge of such developments stated that the move will bring the company’s valuation between ₹16,200-20,000 Crores.

By Aadeesh | January 19, 2023 01:30 PM Read more
Wealthy nationals probed about foreign insurance policies

Indian tax officials are inquiring rich Indians as to why they failed to declare that they were insured or nominees under foreign life insurance policies.

By Sajhyadri | January 19, 2023 01:10 PM Read more
Firms confident in cross-functional moves for employee retainment

Many Indian companies are relying on their job transfer programmes across functions to retain employees. They will train workers with the necessary skill sets to join new roles.

By Aadeesh | January 19, 2023 01:01 PM Read more
SBI to set up 50 new ATMs in Chandigarh

Vinod Jaiswal, SBI’s Chief General Manager of the Chandigarh circle said that these will add to their 344 operating ATMs and boost services in the tricity area.

By Sajhyadri | January 19, 2023 12:30 PM Read more
Adani Enterprises’ shares fall by over 3%

The stock fell by almost 3.7% to ₹3,463.50 on 19th January 2023, one day after the company stated that is going to issue an FPO for pooling ₹20,000 Crores.

By Shivani | January 19, 2023 12:26 PM Read more
PhonePe raises $350 Million from General Atlantic

The latest round of fundraising, amidst an ongoing start-up funding winter, has pushed the company’s valuation to approximately ₹2846 Crores.

By Chanel | January 19, 2023 12:02 PM Read more
Employees in India may get highest salary hikes

Employees working in India may get the highest salary hike of 9.8% this year in the Asia-Pacific region, with the tech sector predicted to provide hikes of 10.4%.

By Shivani | January 19, 2023 11:56 AM Read more
Zombie firms’ share in India doubled between FY12-22

Companies are considered ‘Zombies’ if they are unable to raise enough profits to meet their debt costs and are at least 10 years old.

By Aadeesh | January 19, 2023 11:55 AM Read more
Wendt India reports PAT of ₹11.45 Crores in Q3 FY2023

The company’s standalone PAT rose from ₹6.76 Crores recorded in the same year-ago period, while their total sale in the December quarter rose YoY by 30%.

By Sajhyadri | January 19, 2023 11:40 AM Read more
Visa, Mastercard could receive share of online payments in India

RBI is willing to provide the two networks access to the local payments protocol, such as the integration of UPI services for credit cards.

By Aadeesh | January 19, 2023 11:22 AM Read more
IRDAI approves bond call option for India Insurance Co.

The insurance regulator permitted the insurer to repurchase its bonds before maturity, despite it not meeting the minimum insolvency ratio requirement of 1.5.

By Shivani | January 19, 2023 11:19 AM Read more
93% Indian CEOs to cut costs; Few plan to curb downsizing

The report was presented at the World Economic Forum conference. It highlighted that Indian CEOs are more optimistic about their country’s economic outlook.

By Chanel | January 19, 2023 11:01 AM Read more
PTC India approaches Adani Group and others for share sale

The power trading firm has appointed ICICI Securities to raise buying interest from Adani Group, JSW Energy, Tata Power, Greenko, and other potential entities.

By Sajhyadri | January 19, 2023 10:50 AM Read more
Cyber crimes in Mumbai surged by nearly 64% in 2022

This data was as per the Mumbai Crime Report, released on Tuesday, 17th January 2023. The detection of cases was also poor that year as only 346 were solved.

By Aadeesh | January 19, 2023 10:40 AM Read more
India Inc to tackle climate change on priority

Deloitte Touche Tohmatsu India LLP's report showed that 57% of 155 senior Indian executives have listed tackling climate change as one of their top three priorities.

By Shivani | January 19, 2023 10:32 AM Read more
CRISIL: India’s operating margin soars first time in 6 quarters

In the same report, it was stated that India Inc.’s revenue is also expected to see an on-year increase of 14% in Q3FY23, owing to inflated prices and a surge in volume.

By Chanel | January 19, 2023 10:19 AM Read more
mPokket disbursed loans worth ₹3,500 Crores in 2022

mPokket also announced that since its inception in 2016, it has disbursed loans worth ₹7,000 Crores. It plans to double its customer base and disbursements in 2023.

By Shivani | January 19, 2023 10:08 AM Read more
PFRDA starts new process for bank account verifications

This end-to-end online process links the user’s PRAN-PAN-VPA(UPI) via NPCI and helps to integrate customers’ UPI, PAN, IFSC, and other bank account details.

By Sajhyadri | January 18, 2023 06:05 PM Read more
Quick digital payments’ adoption leading to more targeted cybercrimes

A recent report from the World Economic Forum mentioned that attempts to disrupt critical resources enabled by technology could become more common, potentially damaging infrastructural systems.

By Aadeesh | January 18, 2023 05:31 PM Read more
GoMechanic owns up to misreports in financial books

Amit Bhasin, Co-Founder of the car servicing start-up admitted to errors in their revenue reports, adding that the firm will lay off around 70% of its staff.

By Sajhyadri | January 18, 2023 05:30 PM Read more
IRDAI encourages insurers to invest in sovereign green bonds

The Centre hopes to pool about ₹16,000 Crores via sovereign green bonds in this fiscal. It also aims to de-concentrate other investment tools and reduce the economy’s carbon footprint.

By Shivani | January 18, 2023 05:12 PM Read more
Rupee falls 0.5% against the Dollar

On 17th January 2023, the domestic currency fell again to settle at ₹81.77 against the Dollar, spurred by the locking of Dollar purchases by domestic importers.

By Sajhyadri | January 18, 2023 04:35 PM Read more
SEBI releases paper to protect client funds

The paper, ‘Blocking of funds for Trading in secondary markets’, seeks to address the issue of client funds being misused by brokers, who could utilise the same to settle other requirements.

By Shivani | January 18, 2023 04:34 PM Read more
Over 75% elderly in Kerala covered under pension schemes, says RBI

The report was released on Monday, 16th January 2023. According to it, there are 65.46 lakh senior citizens in Kerala, according to the 2011 Census.

By Aadeesh | January 18, 2023 03:52 PM Read more
Indian Bank collaborates with Rupeek

The companies plan to democratise and make credit more accessible, especially to the unserved sections of the public, via tech-powered doorstep secured lending services.

By Shivani | January 18, 2023 03:10 PM Read more
SEBI approved Blue Jet Healthcare, Innova Captab for IPO

The pharmaceutical organisations will issue an OFS comprising up to 21,683,178 and 96,00,000 shares of equity, respectively, with the latter being worth ₹400 Crores.

By Shivani | January 18, 2023 02:38 PM Read more
Muthoot Finance, Manappuram’s shares fall despite record surge in gold prices

Analysts do not expect the situation to change for the better as competitors are adversely affecting the two companies’ margins and growth prospects.

By Aadeesh | January 18, 2023 02:31 PM Read more
Bank of Maharashtra revised FD interest rates

The lender also introduced a new fixed deposit tenor of 200 days, which will yield an interest of 7% per annum. All revisions were made effective from 16th January 2023.

By Shivani | January 18, 2023 02:07 PM Read more
TradeIndia Lending disbursed loans worth over ₹50 Crores in 6 months

The company has helped many MSMEs and SMEs with business loans since its inception in July 2022. It anticipates making disbursals worth ₹250 Crore in FY24.

By Aadeesh | January 18, 2023 01:58 PM Read more
‘Soundpod by Google Pay’ piloted by Google in India

At present, certain shopkeepers in North India are using the devices as part of the test pilot. It is expected to be similar to those of Paytm and PhonePe.

By Aadeesh | January 18, 2023 12:38 PM Read more
Netflix’s ad plan struggles; Topples revenue growth

The company is expected to reveal its poorest revenue growth since 2014, on 19th January 2023. It may force Netflix to lower its content budget this year.

By Chanel | January 18, 2023 11:59 AM Read more
Microsoft to sack thousands of employees

The tech giant is going to terminate the employment of thousands of people starting Wednesday, 18th January 2023, in order to stay afloat amidst a turbulent economy.

By Shivani | January 18, 2023 11:57 AM Read more
RBI calls old pension scheme a ‘major risk’, warns states against it

RBI believes the move would be ’short-lived’ and could potentially strain the country’s finances in the future since such states would have no corpus for the same.

By Aadeesh | January 18, 2023 11:55 AM Read more
NARCL registers loss of almost ₹6 Crores

The National Asset Reconstruction Co. Ltd (NARCL) logged a loss of ₹5.9 Crores, earning some bank deposit interest with no bad loans to manage.

By Shivani | January 18, 2023 11:47 AM Read more
ICICI Lombard’s net revenue soared by 11% in Q3

On Tuesday, 17th January 2023, ICICI Lombard General Insurance Company Limited stated that its net revenues surged by 11% to appreciate to ₹353 Crores.

By Shivani | January 18, 2023 11:30 AM Read more
Man loses ₹3.47 Lakhs to cyber criminal posing as electricity department staff

The fraud took place on a suspicious app, where the victim revealed his Google Pay and Paytm details after being deceived by a fake text from the electricity department.

By Aadeesh | January 18, 2023 11:21 AM Read more
Mumbai man loses over ₹22,000 in credit card fraud

The fraudster pretended to be a Kotak Mahindra Bank employee and offered to raise the victim’s credit card limit by sending a suspicious link.

By Chanel | January 18, 2023 11:20 AM Read more
EPFO threshold may be fixed for ETF returns

The Finance Investment and Audit Committee recommended raising the limit to 10%. This will also allow EPFO to sell its ETFs regularly to earn better returns.

By Chanel | January 18, 2023 10:47 AM Read more
4 leading IT companies hired only 1,940 employees in Q3FY23

The top four companies, Infosys, Wipro, Tata Consultancy Services, and HCL Tech’s hiring record in Q3 is considered the lowest in 11 quarters.

By Aadeesh | January 18, 2023 10:40 AM Read more
Z3Partners pools ₹550 Crores

The organisation announced the closing of its first fund on 17th January 2023. It was led by investors like Parle Products, Orient Growth Ventures, Spin Ventures Group, etc.

By Shivani | January 18, 2023 10:38 AM Read more
Global job growth may decelerate to 1% in 2023

The International Labour Organization (ILO) said, on 16th January 2023, that global job growth may slow down to 1% in 2023. The ILO had initially forecasted the same to be 1.5%.

By Shivani | January 16, 2023 05:15 PM Read more
Economic slowdown to force workers into poorer jobs, says UN

The UN’s International Labour Organization (ILO) stated that the cost-of-living crisis may push more people into poverty, with commodity prices soaring higher than incomes.

By Aadeesh | January 16, 2023 04:17 PM Read more
Maharashtra man loses ₹12 Lakhs after cryptocurrency account gets hacked

The incident took place on 1st November 2022, when the man visited Thane for some work. No reason for holding off the information was provided until last week.

By Aadeesh | January 16, 2023 02:09 PM Read more
Several IPOs set to expire as investors stay cautious

Volatile market outlooks are forcing companies to rethink their fundraising attempts as up to 27 firms saw their IPO permissions lapse in the last 6 months.

By Sajhyadri | January 16, 2023 12:55 PM Read more
FPIs divest ₹15,000 Crores in Indian equities in January

In the 2 weeks of January 2023, FPIs continued their cautious investing trends in Indian equities, after pulling out a total of ₹1.21 Lakh Crores last year.

By Sajhyadri | January 16, 2023 12:05 PM Read more
Ready housing units may soar to 6-year high in 2023

The number of ready housing units may soar to their 6-year high of 544,000 units in 2023, amid rising demand and faster project completion.

By Shivani | January 16, 2023 11:40 AM Read more
250 crore Chrome users’ details at risk due to new data breach

Imperva Red, a cyber security company, had uncovered the vulnerability called CVE-2022-3656 that allows for the theft of crucial user data in Google Chrome.

By Aadeesh | January 16, 2023 11:05 AM Read more
28 smallcap stocks surged up to 35% last week

Between 9-15th January 2023, smallcap stocks like eClerx Services, Chennai Petroleum Corporation, KBC Global, etc. gained by almost 35%, despite increased market volatility.

By Shivani | January 16, 2023 10:39 AM Read more
GST not applicable over govt. incentives to banks endorsing RuPay, BHIM-UPI

Last week, the Cabinet approved an incentive scheme worth ₹2,600 Crores for some banks to encourage the use of such services.

By Aadeesh | January 16, 2023 10:33 AM Read more
Business confidence soared to its 2-year high last quarter

The Confederation of Indian Industry (CII) Business Confidence Index indicates organisations’ collective optimism, faith in the Indian economy, amid global headwinds.

By Shivani | January 16, 2023 10:33 AM Read more
Mohalla Tech, Dunzo, and others plan fresh layoffs

Several tech, e-comm, and other consumer-oriented digital platforms are planning to reduce their workforce and also looking at other areas of cutting costs.

By Sajhyadri | January 16, 2023 10:30 AM Read more
Cabinet passes ₹2,600-Crore incentive scheme for RuPay debit cards

Also including low-value UPI transactions, the Union Cabinet will offer incentives to banks for promoting these two financial tools to customers in FY2023.

By Sajhyadri | January 13, 2023 05:20 PM Read more
SBI to sell its Visa Steel loan account worth ₹700 Crores

The decision was made after the bank seemingly became frustrated with delays in litigation over the distressed account for more than 5 years.

By Aadeesh | January 13, 2023 05:13 PM Read more
Weekly Markets: Sensex above 60,000; Indices close in green after volatile trading

After opening on a positive note on Monday, Indian indices took a huge hit through the week. However, they recovered on Friday with Sensex closing at 60,261.18.

By Friyana | January 13, 2023 04:48 PM Read more
Godrej Properties acquires 60-acre plot in Chennai

Bought in the state’s Oragadam Junction, the land has a development potential of 1.6 million sq. ft., with an estimated total land value of around ₹90 Crores.

By Sajhyadri | January 13, 2023 04:20 PM Read more
Trucap Finance collaborates with Shivalik Small Finance Bank

The partnership commenced on 12th January 2023. Trucap Finance Limited hopes to enhance its customer base and open doors to new business opportunities through the collaboration.

By Shivani | January 13, 2023 03:52 PM Read more
The Guardian: Ransomware attack resulted in leak of staff data

The now-confirmed ransomware attack originally occurred in the newspaper company’s systems in December 2022, affecting some key systems, IT networks and other data.

By Aadeesh | January 13, 2023 03:37 PM Read more
Piramal Capital seeks to boost retail loan book to ₹1 Lakh Crores

Its retail loan book is currently at ₹24,872 Crores. The company plans to focus its operations by meeting the financing needs of small towns and other micro-markets.

By Shivani | January 13, 2023 03:15 PM Read more
2 companies join BSE SME, takes listing tally to 412

SVS Ventures Ltd. and Rex Sealing and Packing Industries Ltd. became the 411th and 412th companies on the exchange with IPOs that concluded on 4th January 2023.

By Sajhyadri | January 13, 2023 02:45 PM Read more
HCL Technologies’ stock dropped 3%

The tech giant’s management revised its net revenue growth and services guidance for the next quarter of Q4FY2023, suggesting that officials expect a turbulent situation going forward.

By Shivani | January 13, 2023 02:39 PM Read more
RBI’s MPC could still increase repo rate by 25 bps despite easing inflation

The Monetary Policy Committee could raise the repo rate, even after the reducing retail inflation noted in December, to stay within RBI’s tolerance band of 6%.

By Aadeesh | January 13, 2023 02:21 PM Read more
Paytm’s shares fall more than 6% after Alibaba offloads direct stake

The sale of Alibaba’s stakes was reportedly done through a block deal on Wednesday, 11th January 2023. Its subsidiary, Any Financials, did not dissolve its 25% stake in Paytm.

By Aadeesh | January 13, 2023 01:09 PM Read more
Vodafone to cut costs by firing employees

Vodafone is speculated to lay off hundreds of employees, with the majority of them belonging to its UK headquarters, in an attempt to reduce operational costs.

By Shivani | January 13, 2023 01:02 PM Read more
Ola sacks around 200 workers in restructuring exercise

The cab-aggregator has fired employees from several key verticals, stating that fresh hiring will take place in other major areas like engineering and design.

By Sajhyadri | January 13, 2023 12:55 PM Read more
DB Realty’s stock surged to hit upper circuit

It happened shortly after DB Realty announced its subsidiary, Goregaon Hotel and Realty Private Ltd, has entered a loan settlement agreement with Reliance Commercial Finance Limited.

By Shivani | January 13, 2023 12:26 PM Read more
Apple CEO to take 40% pay cut after investors’ feedback

Tim Cook himself also requested the pay cut, as per reports. This will bring the CEO’s net pay package to $49 Million while his stock awards will rise to 75%.

By Sajhyadri | January 13, 2023 12:15 PM Read more
Apax Partners expected to offload stake in Shriram Finance via block deal

The private equity company is looking to exit Shriram Finance by selling its 4.63% stake worth ₹2,250 Crores on Friday, 13th January 2023.

By Aadeesh | January 13, 2023 11:56 AM Read more
Private banks could report over 28% profit growth

After balanced reports across key performance indicators in Q3 of FY2023, analysts expect PSBs to show this growth with an 18% rise in loans portfolio.

By Sajhyadri | January 13, 2023 11:35 AM Read more
Infosys: Profits rise 13% YoY to ₹6,586 Crores in Q3 FY23

These numbers exceeded the company’s estimates for both revenue and net profits. Infosys believes that its expected revenue growth could be in the 16-16.5% range.

By Aadeesh | January 13, 2023 11:06 AM Read more
MCA may start transferring IEPF a/c claims in one week

Investor Education and Protection Fund may reduce the current duration of 45-60 days for such transfers to a week only.

By Chanel | January 13, 2023 10:53 AM Read more
Kotak forecasts a 30% surge in IPO issuances for 2023

IPO issuance activities slumped noticeably last year. However, the market is expected to see several small-sized IPOs worth ₹1,000-2,000 Crores, with a few large ones, too.

By Shivani | January 13, 2023 10:46 AM Read more
UPI payments to be made available on international numbers for NRIs soon

This was mentioned in a circular issued by the National Payments Corporation of India (NPCI), on Tuesday, 10th January 2023. Participating entities were asked to ensure this by 30th April 2023.

By Aadeesh | January 13, 2023 10:30 AM Read more
Central Bank of India starts co-lending partnership with MMPL

The loans, offered to MSME entities at competitive rates, will help the two financial firms to expand their loans portfolio through this joint initiative.

By Sajhyadri | January 13, 2023 10:30 AM Read more
Amazon summoned by Pune Labour Commissioner over mass layoffs

This occurred after the online retailer offered employees a voluntary separation program, which would allow them to voluntarily resign in exchange for severance pay.

By Chanel | January 13, 2023 10:20 AM Read more
Cashfree sacks almost 100 employees

The SBI-backed digital payments startup laid off around 80-100 employees for corporate restructuring processes and to reduce capital outflows amidst a tight funding environment.

By Shivani | January 13, 2023 10:00 AM Read more
Retail inflation fell to less than 6% in December 2022

The easing rate of retail inflation was said to be a result of decreasing food prices, which are responsible for almost 40% of India’s Consumer Price Index (CPI).

By Shivani | January 13, 2023 09:53 AM Read more
Migrant fruit-seller in Mumbai becomes part of RBI’s e-Rupee pilot

The 45-year-old man from Vaishali district, Bihar sells fruits around RBI’s headquarters on Mint Road and started accepting e-Rupee payments in December 2022.

By Aadeesh | January 12, 2023 04:57 PM Read more
Direct tax collection crosses FY2023 target by over 86%

Based on CBDT data till 10th January 2023, economists predict that direct tax collections will cross the budget targets by over ₹2 Lakh Crores by the end of the fiscal.

By Sajhyadri | January 12, 2023 04:10 PM Read more
Start-up funding fell 33% YoY in 2022: PwC report

The funding amount fell from $35.2 Billion in CY21 to $23.6 Billion in 2022. It, however, was more than twice the amount in both CY20 and CY19.

By Aadeesh | January 12, 2023 04:02 PM Read more
L&T Finance seeks to boost retail loan portfolio

L&T Finance Holdings Ltd. plans to expand its retail lending business to comprise 80% of its total loan book by 2026. The same stood at 54% as of 30th June 2022.

By Shivani | January 12, 2023 03:44 PM Read more
Total PMJDY account balance crossed ₹1.80 Lakh Crores

In December 2022, the scheme crossed this record sum with a total number of beneficiaries at 47.84 crores, mostly from rural and semi-urban areas, which shows strong YoY growth.

By Sajhyadri | January 12, 2023 03:35 PM Read more
RBI issues stricter rules for government securities’ trading

RBI also requested market players to make use of the ‘price/yield range setting’ facility on the e-Kuber platform before making bids, which will help eliminate errors.

By Aadeesh | January 12, 2023 02:44 PM Read more
HDFC MF introduces new Long Duration Debt Fund

The open-ended debt fund will offer investors a chance to allocate debt assets, earn long-term prevailing yields, and get a tax-benefiting regular cash flow.

By Sajhyadri | January 12, 2023 02:40 PM Read more
WorkIndia secures $12 Million in funding

Investors include Persol, SBI Holdings, Yamauchi No.10 Family Office, and Insitor Partners. WorkIndia stated that the capital will be used to boost its data science and product infrastructure.

By Shivani | January 12, 2023 02:17 PM Read more
All CAPF personnel to get OPS benefits, says Delhi HC

Hearing 82 petitions, the court ruled that central armed forces, being excluded from NPS benefits, will continue to fall under the Old Pension Scheme.

By Sajhyadri | January 12, 2023 02:10 PM Read more
UT cyber cell urges RBI to make norms stricter for financial firms

This decision was made after Paul Merchants Limited’s Paulpay V2.0 app was recently hacked by numerous cyber criminals, who offered heavy discounts online.

By Chanel | January 12, 2023 01:48 PM Read more
FTX reports liquid assets recovery worth over $5 Billion

The former crypto trading platform, however, is yet to get the accurate number of customer losses and plans to sell its nonstrategic investments soon.

By Sajhyadri | January 12, 2023 12:50 PM Read more
Microsoft may invest $10 Billion in OpenAI

The tech giant had initially invested $1 Billion (about ₹8,171 Crore) in OpenAI. Now, it hopes to incorporate OpenAI’s chatbot, ChatGPT, into its search engine offerings.

By Shivani | January 12, 2023 12:49 PM Read more
Aditya Birla AMC: India’s SIP inflows could double within 3 years

This is because more people are understanding the benefits of such a tool in recent times. His comments float at a time when market volatility is rampant.

By Aadeesh | January 12, 2023 12:27 PM Read more
Nykaa’s stock slips post block deal of over 1 crore shares

1.4 crore shares were exchanged between undisclosed sellers and buyers, at a discounted rate of ₹148.90 apiece, which is 4% lower than the previous close of ₹155.

By Shivani | January 12, 2023 12:19 PM Read more
Adani Wilmar posts strong volume growth in Q3 FY23

The volume growth was recorded throughout all its segments and moving forward, it aims to establish its operating model in the HORECA segment to push sales.

By Aadeesh | January 12, 2023 11:34 AM Read more
Indian Overseas Bank hiked FD interest rate for one tenor

The public sector lender took to its official website to announce that it has hiked its FD interest offering for the term of 444 days, from 6.55% to 7%.

By Shivani | January 12, 2023 11:02 AM Read more
Inactive Bitcoin hit 15 mn in six months amidst crypto winter

It’s largely believed that Bitcoin (BTC) ‘hodlers’ are the reason behind this growing number. Experts also believe that BTC may have already hit its saturation point.

By Chanel | January 12, 2023 10:54 AM Read more
‘Cyber Ambassadors Platform’ initiative launched by Telangana Police

The Telangana Police’s Women Safety Wing started the initiative to help raise awareness about cyber crime and provide means for its prevention.

By Aadeesh | January 12, 2023 10:52 AM Read more
SME IPOs record 84% YoY jump in 2022

In 2022, BSE SME and NSE Emerge together recorded a total of 109 IPOs, which raised ₹1,980 Crores. This denotes a rising interest in SME investments.

By Sajhyadri | January 12, 2023 10:35 AM Read more
‘Cost-of-Living’ crisis next global threat

This data was found in a survey by the World Economic Forum. This crisis was driven by inflated costs of energy and food.

By Chanel | January 12, 2023 10:23 AM Read more
Adani Group to invest ₹60,000 Crores in various sectors of MP

Adani Group made the announcement during the Global Investors Summit (GIS) in Indore on Wednesday, 11th January 2023. No timeline for the same has been mentioned.

By Aadeesh | January 12, 2023 10:15 AM Read more
DSP Investment Managers introduced new NFO

The SP CRISIL SDL Plus G-Sec Apr 2033 50:50 Index Fund commenced taking subscribers on Tuesday, 10th January 2023. The same will conclude on January 19.

By Shivani | January 12, 2023 10:05 AM Read more
RBI tells PayU India to reapply for PA license

Due to structural corporate complications, the payments platform must revise its license within 3 months and cannot take on new online merchants till then.

By Sajhyadri | January 12, 2023 10:00 AM Read more
Giga Fun Studios secures funding of over $2 Million

Participating investors supporting the casual gaming startup include Fireside Ventures, Lumikai, Kettleborough VC, Riverwalk Holdings, and All In Capital.

By Shivani | January 12, 2023 09:38 AM Read more
TRUST Mutual Fund to offer new Corporate Bond Fund

With the NFO open from 9th January 2023, this is the 6th such scheme offered by TRUST, which offers the scope to utilise the prevalent higher market yields.

By Sajhyadri | January 11, 2023 04:55 PM Read more
Park+ secures funding of ₹140 Crores

Investors include Matrix Partners India Advisors LLP, Sequoia Capital India Advisors Private Limited, and Epiq Capital Investment Advisory LLP.

By Shivani | January 11, 2023 04:32 PM Read more
Religare Finvest plans to restart loans business after settling dues

Rashmi Saluja, RFL’s MD, said that the group is going to settle all dues to lenders, infuse fresh capital from the parent company, and focus on lending to SMEs.

By Sajhyadri | January 11, 2023 04:30 PM Read more
Equity mutual funds grew by around ₹7000 Crores in December 2022

The AMFI report further revealed that SIP-related mutual funds soared to hit their all-time-high of ₹13,573 Crores in December 2022.

By Shivani | January 11, 2023 03:25 PM Read more
TCS implements 100% variable pay for majority of the workforce

About 70% of the workforce is eligible for variable pay. Senior employees may also be included and could be eligible for more than 100% pay.

By Aadeesh | January 11, 2023 03:17 PM Read more
2.8 crore demat accounts opened in 2022

While this increased the active accounts to 10.83 crores till December, the yearly growth pace was just 34.3%, due to market volatility and global trends.

By Sajhyadri | January 11, 2023 03:15 PM Read more
1st year premium for life insurers soared by nearly 10% in Dec’22

CareEdge Ratings’ report suggests that the new business premium income of life insurance companies in India rose to ₹26,838 Crores, up by 9.7% since December 2021.

By Aadeesh | January 11, 2023 02:41 PM Read more
SBI may conduct sale of infrastructure bonds worth ₹10,000 Crores this week

Last week, SBI announced that its board had permitted the issuance of infrastructure bonds for the current fiscal year. No exact date for the sale has been announced so far.

By Aadeesh | January 11, 2023 02:08 PM Read more
Brick&Bolt pools $10 Million

On 10th January 2023, Brick&Bolt (PluckWalk Technologies Pvt. Ltd.) stated that Celesta Capital and Accel have invested $10 Million (around ₹81 Crore) in its business.

By Shivani | January 11, 2023 02:06 PM Read more
SEBI clarifies passive ELSS launch process

The markets regulator’s new circular directed that fund houses will first have to close existing ELSS funds before starting a new index-linked passive scheme.

By Sajhyadri | January 11, 2023 01:30 PM Read more
HDFC Securities’ building material segments to grow 8-12% in 4-5 years

Building material segments include plastic pipes, tiles, wood panels, and more. The projected growth will be due to factors such as the real estate market’s rebound, urbanisation drive in India, and more.

January 11, 2023 01:20 PM Read more
RBI approves BharatPe to function as an online payment aggregator

The company announced on Tuesday, 10th January 2023 that it received an in-principle authorisation from RBI to function as an online payment aggregator.

By Shivani | January 11, 2023 01:00 PM Read more
IDBI Bank divestment to conclude by H1FY24, says DIPAM

DIPAM’s Secretary made the announcement on 9th January 2023. He earlier tweeted that there had been a lot of interest in the divestment.

By Aadeesh | January 11, 2023 12:44 PM Read more
DPIIT holds Startup India Innovation Week 2023

Investors and other financiers attended the workshop by the Ministry of Commerce and Industry to support Indian start-ups via alternate investment funds.

By Sajhyadri | January 11, 2023 12:40 PM Read more
Bank of Maharashtra’s employee union pushes for higher term deposit rates

The employee union argued that the bank is losing customers to other PSBs offering higher interest rates for term deposits, to address the gap between deposit and credit growth.

By Shivani | January 11, 2023 12:33 PM Read more
Carlyle buys 65-70% stake in VLCC

The investment group made the acquisition to enter India’s beauty and wellness services industry for a sum reported between ₹2,255 Crores and ₹2,460 Crores.

By Sajhyadri | January 11, 2023 11:55 AM Read more
Rupee appreciates 61 paise to ₹81.74 against US Dollar

This marked the biggest single-day appreciation in two months since November 2022, caused by the anticipation of inflows pertaining to the bond segment, and performed well within Asian currencies.

By Aadeesh | January 11, 2023 11:29 AM Read more
Coinbase to fire around 950 employees

This news was announced by the Chief Executive Officer, stating that the company is boosting its operations in order to withstand the crypto market’s volatility.

By Chanel | January 11, 2023 11:09 AM Read more
‘Global economy will come perilously close to recession this year’: World Bank

The World Bank predicted a financial growth slowdown for leading economies including the US, China, and Europe. It slashed annual growth projections by half, to 1.7%.

By Shivani | January 11, 2023 11:03 AM Read more
Axis Bank acquires additional 7% stake in Max Life

Axis Bank previously acquired 12.99% of Max Life’s equity shares. The stake will be acquired at market value via the use of discounted cash flows.

By Aadeesh | January 11, 2023 10:48 AM Read more
Cannot sack contractual workers without notice, says Kerala HC

In its verdict, the court stated that employees cannot be released on the grounds of unsatisfactory performance without notifying them beforehand.

By Sajhyadri | January 11, 2023 10:45 AM Read more
Bank of Baroda raises MCLR of home loans and others

According to the bank’s BSE filing, the MCLR across all tenors have been hiked by up to 35 bps. These changes will be put into effect from 12th January 2023.

By Chanel | January 11, 2023 10:38 AM Read more
Ola may unify Avail Finance and Ola Money

These rumours arose after Ola Financial Services halted its lending services via the Avail Finance app. The firm acquired the latter in April 2022.

By Shivani | January 11, 2023 10:37 AM Read more
SEBI revises OFS rules for non-promoter investors

The revised norms allow non-promoters to put their shares in a company up for sale, while permitting retail investors to participate and buy discounted shares under the OFS.

By Chanel | January 11, 2023 10:28 AM Read more
Residential sales soared to hit 9-year high in 2022

312,666 housing units were sold across India’s top 8 cities of NCR, Mumbai, Pune, Hyderabad, Ahmedabad, Kolkata, Chennai, and Bengaluru.

By Shivani | January 11, 2023 10:24 AM Read more
SEBI issues guidelines for extension of trading hours during outages

All stock exchanges are now to notify SEBI regarding an outage within 15 minutes of its occurrence and intimate them about an extension of the trading hours due to it.

By Aadeesh | January 11, 2023 10:20 AM Read more
Byju’s requests for more time to recast $1.2 Billion loan

The edtech firm has asked its investors to extend the renegotiating time so that it can revise the broader terms of the loan valued at around ₹9,796 Crores.

By Sajhyadri | January 11, 2023 10:10 AM Read more
Bandhan Bank reports 98% collection efficiency

The lender’s total collection efficiency for Q3FY23 surged to 98% from the previous quarter’s 97%, marking an improvement of 100 bps.

By Shivani | January 09, 2023 04:50 PM Read more
India’s housing market to continue growing in 2023

According to experts, the industry’s growth momentum will continue despite the gradual hike in home loan interest rates and property prices reported last year.

By Sajhyadri | January 09, 2023 04:15 PM Read more
India’s creditworthiness to be stable in 2023, says report

Moody's Investors Service added that APAC countries, including India, have a better credit outlook than key global sovereigns, with more stable debt dynamics.

By Sajhyadri | January 09, 2023 03:25 PM Read more
Reliance Capital’s creditors to run a second e-auction

Eligible bidders include Cosmea Financial Holdings, Oaktree Capital Management, Piramal Group, etc. The same is expected to be conducted on 20th January 2023.

By Shivani | January 09, 2023 03:14 PM Read more
FM distributes loans worth ₹1,550 Crores to small businesses

Finance Minister Nirmala Sitharaman handed cheques to several small-scale vendors and entrepreneurs at a credit outreach drive in Rajasthan on 8th January 2023.

By Sajhyadri | January 09, 2023 02:45 PM Read more
HDFC Bank increases MCLR by around 25 bps

HDFC Bank Limited hiked its loan interest rates across all tenors. The revised rates were said to be effective from 7th January 2023. They range between 8.50% and 9.05%.

By Shivani | January 09, 2023 02:20 PM Read more
Philippines SEC to move all payments online from February

The Philippines Securities and Exchange Commission will completely shift all business transactions online from 1st February 2023, with payments being accepted via the eSPAYSEC system.

By Shivani | January 09, 2023 01:09 PM Read more
MSME growth leads to over 13% credit hike till Nov 2022

As per a CareEdge report, the country’s industries saw a 13.1% YoY surge in credit demand, with a net credit of ₹32.9 Lakh Crores noted till November.

By Sajhyadri | January 09, 2023 01:00 PM Read more
2022’s new investment proposals were up by 71%

Data from CMIE and Bank of Baroda revealed that 2022’s total proposals soared by up to ₹23.6 Lakh Crores, marking the highest recorded figures in the past 6 years.

By Chanel | January 09, 2023 12:50 PM Read more
IIFL Finance issues NCDs worth around ₹1000 Crores

The NCDs with a green-shoe option amounting to ₹900 Crores were issued on 6th January 2023. With an option for early closure, the offer will end on January 18.

By Shivani | January 09, 2023 12:29 PM Read more
Bank locker customers rush to renew their agreements

Since last week, existing bank locker customers have been rushing to procure stamp papers in an attempt to comply with RBI’s revised regulations.

By Chanel | January 09, 2023 12:20 PM Read more
Asian Paints to invest ₹2,000 Crores in new production unit

The company plans to increase its previously set CAPEX limit of ₹6,750 Crores for this plant, which will have a yearly production capacity of around 4 lakh kl.

By Sajhyadri | January 09, 2023 12:15 PM Read more
Cisco downsizes nearly 700 jobs from its US workforce

The recent layoffs affected workers based in its US-based offices. In addition, 222 employees, consisting of technical and engineering staff, were fired at their Milpitas branch.

By Chanel | January 09, 2023 11:51 AM Read more
Paytm disburses loans worth ₹9,958 Crores in Q3 of FY2023

Powered by this lending surge, the company recorded a huge 357% YoY growth in the December-ending quarter, with 1.05 crore loans disbursed.

By Sajhyadri | January 09, 2023 11:20 AM Read more
Titan’s stock fell by 3%

Titan’s stock slumped during the intra-day session on Monday, 9th January 2023, despite logging a YoY sales growth of about 11%.

By Shivani | January 09, 2023 11:17 AM Read more
Goldman Sachs may layoff thousands of jobs midweek

From 11th January 2023, the company will allegedly begin laying off over 3,000 employees. Its major divisions including investment banking will be affected.

By Chanel | January 09, 2023 10:57 AM Read more
TCS may log a profit growth of over 12% for Q3

Market analysts forecasted TCS to register a profit growth of 12.4%, along with revenues stronger by 16.7%, for Q3 of this fiscal.

By Shivani | January 09, 2023 10:34 AM Read more
IL&FS pays dues of ₹1,300 Crores to 5 secured creditors

This is the 2nd dues clearing from the defunct infra-financing company, paid to Canara Bank, Union Bank of India, and other lenders, on 31st December 2022.

By Sajhyadri | January 09, 2023 10:25 AM Read more
Apple commences a retail hiring drive

Apple posted about new openings on the Careers page of its official website. It plans to launch its flagship retail business by hiring hundreds of workers across different cities in India.

By Shivani | January 09, 2023 09:47 AM Read more
IndusInd Bank to launch multi-branded credit card in FY2023-24

5th January 2023, the bank announced that it will launch the new card in collaboration with the Qatar Airways Privilege Club and the British Airways Executive Club.

By Sajhyadri | January 06, 2023 07:10 PM Read more
Bandhan Bank introduces fresh FD interest rates

Applicable on FDs under ₹2 Crores, they were made effective from 5th January 2023. They range between 3% and 7.50% and 3.75% to 8% for regular and senior citizens, respectively.

By Shivani | January 06, 2023 06:36 PM Read more
Gujarat businessman loses ₹33.42 Lakhs in franchise fraud

Lured by the prospect of a Domino’s franchise ownership, the man kept depositing lakhs of Rupees into several bank accounts before realising that he had been scammed.

By Sajhyadri | January 06, 2023 06:25 PM Read more
Dabur may log poor operating margins for Q3

Dabur Ltd. stated that its operating margin may drop by 200 – 250 basis points amidst soaring inflation and volatile currency fluctuations.

By Shivani | January 06, 2023 06:06 PM Read more
Centre to reveal India’s economic growth forecast for FY2023

The first advance estimate of economic growth for the ongoing fiscal will likely predict slumps for India, due to inflation and tightening financial problems.

By Sajhyadri | January 06, 2023 05:45 PM Read more
Paytm, Reliance Jio, and Airtel vouch for personal data localisation

According to these telcos, once people’s personal data crosses Indian borders to other ‘trusted’ geographies, it may cause big hurdles for Indian law enforcement bodies.

By Shivani | January 06, 2023 05:42 PM Read more
Weekly Markets: Indian indices end in red; Sensex below 60,000

After trading through a largely volatile first week, Indian benchmark indices settled in red on Friday with Sensex at 59,900 and Nifty tumbling to 17,859.45.

By Chanel | January 06, 2023 04:58 PM Read more
SEBI permits the centre to reclassify IDBI Bank holdings as ‘public’

Shortly after the centre divested its stake in IDBI bank, SEBI permitted it to reclassify its holding as ‘public’. This was provided that the government’s voting rights remain within 15%.

By Shivani | January 06, 2023 04:37 PM Read more
OneCard revenues surged 6x in FY22

While revenues grew, the fintech company’s net losses swelled to ₹182.8 Crores as OneCard’s expenses related to marketing and promotional activities increased.

By Shivani | January 06, 2023 04:32 PM Read more
Punjab driver yet to receive revised pension, 12 years on

Having retired as a driver of Punjab Roadways in 2008, Gursharan (73) hasn’t yet received his revised pension benefits as per the Fifth Pay Commission report.

By Sajhyadri | January 06, 2023 04:25 PM Read more
Data protection rules key to safeguard e-com & retail: CAIT

The trade body said that big tech firms constantly process and store a large amount of data, which can threaten user data safety if not checked.

By Sajhyadri | January 06, 2023 03:15 PM Read more
BF Investment board rejects proposal for delisting; Hits 10% lower circuit

Following this fall, the shares traded at ₹413.65 apiece on BSE. The board rejected the proposal to comply with Regulation 4(2) of SEBI’s De-listing Regulations.

By Chanel | January 06, 2023 02:01 PM Read more
Crypto firm Genesis lays off 30% of workforce

The Wall Street Journal revealed the layoffs, stating that the firm took this step due to economic declines and decreasing investor interest in crypto.

By Sajhyadri | January 06, 2023 12:45 PM Read more
LIC increases New Jeevan Shanti annuity scheme returns

LIC announced that it has increased the returns for the New Jeevan Shanti annuity scheme by 12-14%, as compared to the previously offered payouts.

By Shivani | January 06, 2023 12:20 PM Read more
Centre may hold back on CAPEX growth for the next fiscal

Amidst a robustly recovering private sector, the Central Government may reign its CAPEX to increase by 25%, amounting to around ₹9.5 Trillion.

By Shivani | January 06, 2023 11:57 AM Read more
Govt expects more FDI inflows in coming months

The DPIIT’s Joint Secretary said that Indian FDIs will recover from global headwinds and show better results in the last quarter of FY2022-23.

By Sajhyadri | January 06, 2023 11:55 AM Read more
Vi seeks emergency loan of up to ₹7,000 Crores

The company has racked up dues of roughly ₹7,500 Crores that it owes to Indus Towers. From January 2023, Vi has promised to make timely repayments.

By Chanel | January 06, 2023 11:28 AM Read more
Samsung’s profits fell by 69%

Samsung blamed headwinds such as declining demand for smartphones and displays, diminishing memory chip rates and the global economic slowdown.

By Shivani | January 06, 2023 11:17 AM Read more
Dunzo may raise up to $100 Million through convertible notes

According to sources, this amount will be used to expand the company’s quick commerce service, Dunzo Daily. The online grocer initially wanted to raise $150 Million.

By Chanel | January 06, 2023 11:12 AM Read more
Diamond demand drops; around 20,000 workers jobless

Last month, around 20,000 workers belonging to the diamond polishing and cutting industry of Surat lost their jobs due to diminished demand for the same.

By Shivani | January 06, 2023 10:36 AM Read more
Hackers leak over 20 crore Twitter users’ email addresses

As per a cybersecurity report, this was one of the largest such data breaches, adding that the users’ details had been posted on an online hacking forum.

By Sajhyadri | January 06, 2023 10:20 AM Read more
Budget 2023: Impact on the Insurance Sector?

The upcoming Union Budget 2023 may have significant implications for the insurance sector. IRDAI and DFS may modify provisions for tax incentives, licencing, and solvency ratio, among others.

By Shivani | January 05, 2023 01:05 PM Read more
Hindalco board approves ₹700 Crores fundraising via NCDs

After the board agreed to raise the funds through NCDs, the company’s share value hiked over 2% during market trade on 11th January 2023.

By Sajhyadri | January 05, 2023 11:55 AM Read more
RBI’s Integrated Ombudsman Scheme to expand to HFCs

Customers will complaints related to housing finance firms will soon be able to use the central bank’s grievance redressal mechanism, RBI’s annual report said.

By Sajhyadri | January 05, 2023 11:45 AM Read more
Bajaj Finance loan booking soared by over 5% last quarter

The renowned NBFC’s loan booking statistic soared by 5.4% to hit 7.8 million. Its customer franchise hit an all-time high of 3.1 million during the same time period, as well.

By Shivani | January 05, 2023 11:19 AM Read more
Salesforce to cut around 10% jobs

The firm stated that it will also vacate some offices to cut down on operating costs due to excess employee hiring post the pandemic and economic slumps.

By Sajhyadri | January 05, 2023 11:10 AM Read more
Union Budget 2023: Expectations of entrepreneurs and startups

Analysts expect Budget 2023 to offer MSMEs additional funding and improved programmes to boost their growth, along with new taxes on start-ups that cross market caps.

By Chanel | January 05, 2023 11:07 AM Read more
BharatPe looks to hire for its top-level roles

On 5th January 2023, the company’s board Chairman disclosed that a recruitment agency had been contacted to identify candidates to fill in the role of Chief Executive Officer.

By Chanel | January 05, 2023 10:57 AM Read more
Amazon to cut over 18,000 jobs to reduce costs

Earlier this week, Amazon was forced to disclose the layoff news after one of its employees externally released the information. The cuts will also affect its Europe-based workers.

By Chanel | January 05, 2023 10:48 AM Read more
Microsoft collaborates with HDFC Bank

The tie-up will enable HDFC Bank to optimise and monetise its data landscape while securing its enterprise platform by deploying Microsoft Azure.

By Shivani | January 05, 2023 10:38 AM Read more
Budget 2023: Wishlist for salaried employees

Salaried employees are waiting eagerly for several tax-oriented relief measures in Budget 2023, like increasing the threshold limits of several deductions.

By Sajhyadri | January 05, 2023 12:55 AM Read more
Citi drops India’s CAD forecast for FY2023 to 2.9%

The American investment MNC attributed this prediction to increased service exports and falling oil prices affected by recession fears, reduced demand, etc.

By Sajhyadri | January 04, 2023 06:05 PM Read more
Fundraising via IPO dropped by 50% last year

PRIME Database revealed that, against the collective gathering of ₹1,18,723 Crores by 63 corporates in 2021, only ₹59,412 Crores was raised by 40 entities in 2022.

By Friyana | January 04, 2023 05:48 PM Read more
Aegon Life introduces iTerm Prime Insurance plan

The scheme has been designed to cater to self-employed persons, offering a minimum sum insured of ₹25 Lakhs, through a completely online application process.

By Shivani | January 04, 2023 05:24 PM Read more
Nexus Venture to raise $700 Million

Nexus Venture Partners is looking to pool $700 Million through a fund, which it will allot to investing in Indian and US-based tech startups.

By Shivani | January 04, 2023 04:58 PM Read more
HealthKart plans foreign market expansion via IPO

The nutraceutical platform plans to launch its IPO in a few years. At present, it has become a market leader in India with a 3x expansion since the COVID-19 pandemic.

By Sajhyadri | January 04, 2023 03:50 PM Read more
MFI loan portfolio may grow to exceed ₹3 Lakh Crores

The microfinance industry’s portfolio stood at a loan disbursement of ₹3 Lakh Crores in September 2022, comprising 6.2 crore unique borrowers.

By Shivani | January 04, 2023 03:44 PM Read more
Public sector banks to develop digital platform with fintech firms

Banks like SBI are planning to set up this platform to offer loans. The aggregating companies will get a commission for successful loan applications.

By Sajhyadri | January 04, 2023 01:55 PM Read more
Equitas SFB's shares hit 52-week high, rally 7% on BSE

The bank’s stock hit a record value of ₹63.90 in midday trade on 4th January 2023, a day after RBI approved SBI Funds’ proposed 9.99% share acquisition.

By Sajhyadri | January 04, 2023 01:20 PM Read more
Bosch and 6 more mid-cap stocks recategorised as large-cap

The Association of Mutual Funds in India (AMFI) released a market capitalisation list which recategorised multiple stocks based on their 6-month performance.

By Shivani | January 04, 2023 01:05 PM Read more
Survey: Increased spending reported by over 55% Indian households

The data was published under the India Consumer Sentiment Index, compiled monthly by Axis My India, where about 10,019 people were surveyed.

By Friyana | January 04, 2023 01:01 PM Read more
Uolo acquires code learning platform Tekie in stock deal

The deal reportedly also involved a cash component for Tekie’s founder duo and is in line with Uolo’s aim to expand in the STEM learning sector in the country.

By Sajhyadri | January 04, 2023 11:20 AM Read more
42-year-old software developer cheated off ₹37 Lakhs

Dushyant Patel was duped of ₹37 Lakhs on 31st December 2022, through 3 unauthorised transactions of ₹10 Lakhs, ₹10 Lakhs, and ₹37 Lakhs, respectively.

By Shivani | January 04, 2023 11:15 AM Read more
India’s forex reserves fell below $563 Billion by Dec 23

This was revealed through RBI data that was released on 30th December 2022. The drop of $691 Million has now left $562.808 Billion in India’s forex reserves.

By Chanel | January 04, 2023 10:49 AM Read more
HDFC disbursed loans worth ₹8,892 Crores in the last quarter

For Q3FY23, HDFC Ltd. disbursed loans worth ₹8,892 Crores, which is comparable to last year’s statistic of ₹7,468 Crores, for the corresponding period.

By Shivani | January 04, 2023 10:45 AM Read more
Yes Bank announces fresh FD interest rates

Yes Bank revised its FD rates for investments under ₹2 Crores, with the newly introduced offerings ranging between 3.25% and 7%, made effective from 3rd January 2023.

By Shivani | January 04, 2023 10:39 AM Read more
ADB, India sign $350 Million loan to expand Chennai’s metro rail line

This loan is part of a multi-tranche financing facility that amounts to $780 Million. It had been previously sanctioned by ADB on 8th December 2022.

By Chanel | January 04, 2023 10:16 AM Read more
RateGain Travel Tech to acquire Adara Inc. for around ₹132 Crores

The Indian software firm revealed the acquisition of the hospitality data management company in hopes of becoming a leading platform for travel-oriented ARI data.

By Sajhyadri | January 03, 2023 05:05 PM Read more
Zomato shares drop by over 4% after Co-Founder resigns

Gunjan Patidar resigned from his position of Co-Founder and Chief Technology Officer at Zomato on Monday, 2nd January 2023.

By Friyana | January 03, 2023 04:39 PM Read more
Federal Bank deposits surpass ₹2 Lakh Crores milestone

The company shared some business updates on its Q3 performance on Tuesday, 3rd January 2023. It recorded ₹2,01,425 Crores worth of deposits this quarter.

By Friyana | January 03, 2023 03:50 PM Read more
SEBI rejects insider trading charges over WhatsApp leak case

The regulator dismissed the allegations against 11 persons who were accused of revealing financial information of several companies in private WhatsApp groups.

By Sajhyadri | January 03, 2023 03:50 PM Read more
RBI: ICICI Bank, HDFC Bank, and SBI remain Domestic Systemically Important Banks

RBI further stated that under this, SBI must maintain an additional 0.60% CET1 while HDFC and ICICI banks are required to maintain 0.20% additional CET1, each.

By Friyana | January 03, 2023 03:14 PM Read more
Orient Green Power aims for expansion in green energy

The Indian firm is exploring options to maximise assets, venturing into hybrid energy production, and ways to increase the company’s value to stakeholders.

By Sajhyadri | January 03, 2023 03:10 PM Read more
ICICI Bank, Infosys Finacle join India Accelerator to support start-ups

India Accelerator announced the initiation of the i3 Launchpad in association with Infosys Finacle and ICICI Bank. Its main objective is to assist entrepreneurs and support Indian start-ups.

By Aadeesh | January 03, 2023 03:08 PM Read more
Dabur acquires 51% stake in Badshah Masala

Dabur Ltd. disclosed this via a stock exchange filing on Monday, 2nd January 2023. Badshah Masala is now considered a subsidiary of Dabur but will continue operating as a standalone entity.

By Aadeesh | January 03, 2023 02:07 PM Read more
Adani Group set to pay additional price for NDTV’s open offer shares

The company will now pay an additional ₹48.65 per share to NDTV’s investors that had sold their shares during the open offer, increasing the value of shares to ₹342.65 apiece.

By Aadeesh | January 03, 2023 01:30 PM Read more
Cash trading volume low in 2022, trend to continue in 2023

Market experts supported this claim, adding that although Indian benchmark indices performed well in 2022, the average daily trading volume for both fell by 18% YoY.

By Sajhyadri | January 03, 2023 01:20 PM Read more
Woman tweets train ticket details, fraudsters dupe off over ₹64,000

The crime occurred shortly after M. N. Meena, who had booked 3 tickets to Bhuj, inquired about her reservation against its cancellation status on IRCTC’s official Twitter page.

By Friyana | January 03, 2023 01:13 PM Read more
ICICI Bank hikes MCLR by up to 25 bps

The bank raised its MCLR on home loans across all its tenors with effect from 1st January 2023. On the same day, other banks like PNB put their own revised MCLRs into effect.

By Chanel | January 03, 2023 01:06 PM Read more
DII inflows to continue rising in Indian equity markets, say experts

Analysts claim that this rise, which started only in December with equity buying worth around ₹24,159 Crores, will continue due to positive economic factors.

By Sajhyadri | January 03, 2023 12:35 PM Read more
Loans given to services sector surpass credit provided to industries

Outstanding loans to the industrial sector stood at ₹32.94 Lakh Crores while the credit given to the services sector surpassed it with ₹33.15 Lakh Crores.

By Friyana | January 03, 2023 12:33 PM Read more
PTC India’s shareholders approve final dividend of ₹5.80 apiece

During its AGM, on 30th December 2022, PTC India’s shareholders approved the final dividend allotment, which will be given alongside a ₹2 per equity share interim dividend.

By Chanel | January 03, 2023 12:07 PM Read more
CSB Bank and Karnataka Bank record strong loan growth in Q3 FY23

During the December-ending quarter, CSB Bank recorded a 25.7% YoY growth in credit worth ₹18,643.3 Crores, while Karnataka Bank reported a 12.4% YoY growth to ₹63,659 Crores.

By Aadeesh | January 03, 2023 12:05 PM Read more
Unocoin partners with Binocs to ease crypto tax calculation

The crypto platform and the tax firm started this collaboration with the aim to provide efficient and accurate tax assessments that can be easily accessed.

By Sajhyadri | January 03, 2023 11:55 AM Read more
Non-IT sectors could lead white-collar job market in 2023

Top company executives of India believe that the current moderation and caution of jobs in the IT sector will help it remain the dominant recruiter of white-collar jobs in the country in 2023.

By Aadeesh | January 03, 2023 11:34 AM Read more
Airtel looks to raise revenue market share to more than 40%

Bharti Airtel is looking to increase its revenue market share to 40% from its current 38% within the next 12 to 18 months, according to a senior company executive.

By Aadeesh | January 03, 2023 10:55 AM Read more
IT companies to cut down hiring mandates in 2023

Top recruiters in the industry have revealed that there was an almost 90% drop in active openings in December 2022, forcing IT firms to lower their hiring mandates.

By Chanel | January 03, 2023 10:46 AM Read more
Swiggy records 2x losses in FY22 at over ₹3,000 Crores

The company recorded a loss of ₹3,628.90 Crores in FY22 which is almost double compared to the ₹1,616.90 Crores noted in FY21.

By Friyana | January 03, 2023 10:29 AM Read more
Rishabh Instruments registers draft papers for IPO with SEBI

The IPO comprises a fresh issue worth up to ₹75 Crores, along with an offer for sale of 94.17 lakh equity shares from an existing investor and group promoters.

By Aadeesh | January 03, 2023 10:27 AM Read more
IPO pipeline to show better results in 2023, experts predict

After 2022 showed 40 IPOs entering the market with ₹59,412 Crores raised, 2023 is likely to show improvements due to new listings and corporate valuations.

By Sajhyadri | January 03, 2023 10:20 AM Read more
InCred Capital acquired Orowealth; Launches ‘InCred Money’

Earlier this week, InCred Capital announced that it acquired Orowealth in an all-cash deal. The company also revealed its plans to enter the retail wealth-tech segment.

By Chanel | January 03, 2023 10:16 AM Read more
CarDekho narrows loss by 28% in FY22

On 2nd January 2022, the company revealed that it has managed to reduce its losses from ₹341 Crores noted in FY21 to ₹246 Crores in FY22.

By Friyana | January 03, 2023 09:46 AM Read more
Unemployment rate in India soared to 8.3% in Dec 2022

CMIE data revealed this rate, adding that it was the highest in 16 months. Unemployment rose by over 10% in urban areas, while dropping to 7.44% in rural areas.

By Sajhyadri | January 02, 2023 04:00 PM Read more
Currency in circulation surged by nearly 83% since demonetisation

The demonetisation of 8th November 2016 caused the CIC to fall to ₹9 Lakh Crores on January 6, 2017. The same recovered to ₹32.42 Lakh Crores, on December 23, 2022.

By Shivani | January 02, 2023 03:58 PM Read more
L&T Infra Credit, L&T Finance sold loans worth over ₹1,827 Crores to Arcil

Earlier this week, both companies sold their distressed loans to Arcil, anonymous sources revealed. The latter offered to close the deal for ₹1,092.5 Crores in a structure of 15:85.

By Chanel | January 02, 2023 03:35 PM Read more
PNB raises interest rates on FDs and savings accounts

Effective from 1st January 2023, the new savings account rates were raised by 25 bps, and the same for FDs were hiked by 25 to 50 bps.

By Sajhyadri | January 02, 2023 03:15 PM Read more
Karnataka Bank hikes FD rates

For 555-day tenors, the general public will now earn an interest of 7.30%, while senior citizens can get returns at 7.70% for FDs worth less than ₹2 Crores.

By Friyana | January 02, 2023 03:01 PM Read more
Tamil Nadu recorded highest angel investments in 2022

Over ₹21,629 Crores was invested by Private Equity and Venture Capital firms in 65 Tamil Nadu-based companies and 45 of them are headquartered in the state.

By Chanel | January 02, 2023 02:57 PM Read more
Himachal CM declares new fund worth ₹101 Crores

The Mukhya Mantri Sukhashraya Sahayata Kosh will be started shortly to benefit orphan kids by supporting their basic needs and higher education requirements.

By Shivani | January 02, 2023 02:46 PM Read more
PE-VC investments fell by 29% in India during 2022

Such firms made investments worth $65 Billion via 1,362 deals in 2021, while they made $46 Billion from 1,261 deals in 2022.

By Aadeesh | January 02, 2023 01:49 PM Read more
Canara bank stock surges to its highest level since Feb 2018

The shares hit a 52-week high on BSE, on 2nd January 2023, after trading 1% higher on the intraday to touch ₹338.30 per unit.

By Friyana | January 02, 2023 01:26 PM Read more
Torrent Power to buy clean energy projects from ReNew Power

Sources revealed that the former will buy a total of 1.1 GW power assets in wind and solar energies, in a deal reported to be worth over ₹9,916 Crores.

By Sajhyadri | January 02, 2023 01:15 PM Read more
Experts anticipate volatile trading ahead of Q3 earnings period

Last week, the domestic market retrieved drastically by recovering 80% of its losses. The BSE Sensex was up by nearly 1,000 points to hot 60,841, while NSE Nifty rose by 300 points to reach 18,105.

By Aadeesh | January 02, 2023 01:12 PM Read more
JMC Projects and Kalpataru Power Transmission schedule merger

JMC Projects (India) Ltd. and Kalpataru Power Transmission Limited (KPTL) have scheduled their merger for 11th January 2023. Shortly after the news was disclosed, their stocks hit 52-week highs.

By Shivani | January 02, 2023 01:04 PM Read more
Small savings schemes’ interest rates hiked by 20-110 bps by govt.

The government announced a hike of 20-110 bps in the interest rates of small savings schemes for the 2nd consecutive quarter falling between January-March 2023 period.

By Friyana | January 02, 2023 12:32 PM Read more
CBI registers 2 pvt companies, directors in ₹15 Crore bank fraud

The two Mumbai-based companies were booked by the CBI as per complaints by Dipesh Raj, Deputy General Manager of SBI on December 2020. The companies’ directors conspired with other parties for the scam.

By Aadeesh | January 02, 2023 12:29 PM Read more
FPIs finish 2022 as net sellers despite ₹24,608 Crores in purchases

Market experts attributed this result to increased interest rates and other wider economic factors while predicting that FPIs will emerge as net buyers in 2023.

By Sajhyadri | January 02, 2023 12:15 PM Read more
Tata Motors logs a sales growth of 14% YoY

Tata Motors Limited logged a sales growth of 14% YoY, with domestic sales ticking up by 10%. Shortly after the announcement, its stocks soared by 1.8% on 2nd January 2023.

By Shivani | January 02, 2023 11:43 AM Read more
BF Investment's shares hike by 20% after delisting plans revealed

BFIL’s shares were trading at ₹350.10 on BSE during early trade hours, on 2nd January 2022, after the announcement to give shareholders a chance to explore delisting options was made.

By Sajhyadri | January 02, 2023 11:30 AM Read more
HEFA notes a shortfall in loan disbursements at ₹35,000 Crores

This aggregate figure recorded by the agency, 6 years after its initiation, is one-third of the ₹1 lakh Crore targeted by the Union Ministry of Education.

By Friyana | January 02, 2023 11:29 AM Read more
7.82 billion UPI processes recorded in December 2022, reveals NPCI

The new record high of 7.82 billion UPI transactions worth ₹12.82 Trillion in December 2022 was 7.12% higher in volume compared to November, while the value went up by 7.73%.

By Aadeesh | January 02, 2023 11:13 AM Read more
Rupee expected to face volatility later in Jan

Analysts believe that the Rupee will face some turbulence later in the month after declining by over 11% in 2022. On Monday, it opened at ₹82.66 per US Dollar.

By Chanel | January 02, 2023 11:12 AM Read more
Gold may hit all-time high of ₹62,000 per 10 grams in 2023

Amidst a slipping Dollar, turbulent international markets and falling inflation, among other factors, gold prices may hit an all-time high of ₹62,000 per 10 grams in 2023.

By Shivani | January 02, 2023 11:09 AM Read more
RBI to expand use cases of the digital Rupee

RBI will utilise the learnings from the ongoing pilot project and expand the utility of the e-Rupee by testing its features and applications in future pilot projects.

By Friyana | January 02, 2023 10:49 AM Read more
Companies like KFC to hire more women in 2023

Flipkart, KFC, and Samsung, among others, are interested in expanding their female workforce and plan to hire more women for front-facing and shop floor jobs.

By Chanel | January 02, 2023 10:43 AM Read more
Around 50,000 direct jobs created by Apple’s suppliers, manufacturers

Official sources said that Apple’s contract suppliers and manufacturers employed around 50,000 people, through expanding operations over the last 17 months.

By Shivani | January 02, 2023 10:38 AM Read more
Banks likely to see strong credit growth in January-March quarter

According to experts, this growth will be driven by increasing corporate demand and healthy consumer trends, despite a surge in financing costs from last year.

By Sajhyadri | January 02, 2023 10:30 AM Read more
Toyota Kirloskar Motor reports potential system data breach

The company claimed that certain customers’ private data could have been leaked online due to the breach. So far, the extent of the hack and the range of the data acquired by cyber criminals is underdetermined.

By Aadeesh | January 02, 2023 10:17 AM Read more
EPFO circular explains eligibility criteria for higher pension scheme

Dated 29th December 2022, the circular includes only those EPS-95 employees who also contributed to the EPF Scheme and opted for higher pension pre-retirement.

By Sajhyadri | December 30, 2022 05:25 PM Read more
Weekly Markets: Sensex slips by over 500 points; Rupee gains

Amidst mixed global cues and rising COVID-19 outbreak fears, Sensex slid by 552 points to 60,840 on 30th December 2022. The Indian Rupee gained to trade at ₹82.72 per U.S. Dollar.

By Shivani | December 30, 2022 04:48 PM Read more
Quant Mutual Fund remains firm on Exxaro Tiles despite no YTD returns

Quant Mutual Fund and A G Dynamics have had firm investments in Exxaro Tiles. They have faith in the company’s business as their stakes in it have remained unchanged between Q1 and Q2 FY23.

By Aadeesh | December 30, 2022 03:50 PM Read more
New Emerging Opportunity Fund launched by Tata AIA

Under this, money will be invested in mid-cap companies and emerging market leaders, which have the potential for remarkable growth.

By Friyana | December 30, 2022 03:06 PM Read more
Traders anticipate bullish start to 2023 with rollovers

With the expiry of contracts in January 2022, traders now have bullish sentiments for the start of 2023, and expect strengthened equity markets during this period.

By Aadeesh | December 30, 2022 02:25 PM Read more
Gross NPA of banks fell to 5% in 1st half of FY2023, shows RBI report

According to RBI’s report released on 29th December 2022, net NPAs also fell to a decade low of 1.3%, owing to improvements in bank asset quality

By Sajhyadri | December 30, 2022 02:20 PM Read more
Gold prices to note a loss for the 2nd consecutive year

Gold prices to note a loss for the second consecutive year due to the continuous hike in rates by the US Federal Reserve.

By Friyana | December 30, 2022 02:06 PM Read more
India’s current account deficit rises to $36.4 Billion in September quarter

This was considered an all-time high CAD, according to RBI’s data published on Thursday, 29th December 2022. The CAD amount rose two-fold from the previous quarter and by four times against Q2 FY22.

By Aadeesh | December 30, 2022 01:36 PM Read more
Banks to remain profitable in 2023 with surging credit growth

Public banking sectors are expected to note further profit in 2023 with the surging credit demand and constant increase in interest rates.

By Friyana | December 30, 2022 01:28 PM Read more
Debt mutual funds remain within limits in stress tests, says RBI

The central bank said that the stress testing, conducted in accordance with AMFI guidelines, showed such schemes to be safe against various risk parameters.

By Sajhyadri | December 30, 2022 01:25 PM Read more
SBI Card, Punjab & Sind Bank launch 3 co-branded credit cards

The PSB SBI Card PRIME, PSB SBI Card ELITE, and PSB SimplySAVE SBI Card were launched to serve mass premium, premium, and mass-category customers, respectively.

By Shivani | December 30, 2022 01:24 PM Read more
Survival Tech files draft papers with SEBI for ₹1,000 Crore IPO

The planned IPO consists of new equity shares worth up to ₹200 Crores, and an offer for sale (OFS) of ₹800 Crores by the promoters, along with promoter group shareholders.

By Aadeesh | December 30, 2022 12:41 PM Read more
Tata Power gathers ₹1,000 Crores by issuing debentures

The first series of these debentures will mature on January 8, 2030, while the second series is scheduled to mature on December 29, 2032.

By Friyana | December 30, 2022 12:41 PM Read more
ICICI Prudential Life Insurance’s AUM goes over ₹2.5 Lakh Crores

The insurance firm reached this milestone target 22 years after its inception, due to several key steps like ensuring zero NPAs, integrating ESG practices, etc.

By Sajhyadri | December 30, 2022 12:25 PM Read more
RBI mulls over common approach for crypto assets

The RBI is trying to establish a regulatory framework for crypto asset systems based on internationally followed policies, to manage their vulnerability and instability.

By Shivani | December 30, 2022 12:20 PM Read more
Cyber threats rise by 314% within a week in India

India ranked 3rd on the global list for the highest rise in cyber-crime with a threat rate of 24 for every 100 scans, which is 91% higher than the global average.

By Friyana | December 30, 2022 11:47 AM Read more
Recent acquisition by Reliance Consumer Products: Lotus Chocolate

Lotus Chocolate Company Limited sold a 51% controlling stake to Reliance’s FMCG arm, Reliance Retail Ventures Limited. The deal was closed at around ₹74 Crores.

By Shivani | December 30, 2022 11:37 AM Read more
ESG’s influence on investments likely to see 90% rise in 5 years

Bain & Company’s Founder presented this industry outlook, backed by a study which shows a rise in ESG adoption by corporate firms in India in the last 5 years.

By Sajhyadri | December 30, 2022 11:30 AM Read more
Insurance Samadhan surpasses over ₹800 Million in claim settlements

The insurance tech platform revealed to have settled over 14,500 grievances since its inception in 2018.

By Friyana | December 30, 2022 11:04 AM Read more
Ashoka Buildcon’s stocks climb 4% after bagging ₹755 Crore order

The company’s share value on Thursday’s trade rose by 2.7% to ₹90.5, compared to the previous close of ₹88.15%. It further jumped by 4.2% to achieve an intra-day high of ₹91.85.

By Aadeesh | December 30, 2022 11:03 AM Read more
Public issue fundraising may increase in 2023

The statistic may rise significantly in the coming year, with issuers being attracted to lucrative interest rates, and companies interested in diversifying their funding portfolio.

By Shivani | December 30, 2022 10:42 AM Read more
Home buying affordability levels in India dip in 2022

This data was revealed in Knight Frank India’s study called Affordability Index 2022. Factors such as a 225 bps increase, home loan rate hikes, and a rise in residential property prices were responsible.

By Aadeesh | December 30, 2022 10:32 AM Read more
Aster DM Healthcare to acquire Adiran IB Healthcare for ₹1.6 Crores

The healthcare chain’s subsidiary hospital DRCMH completed the deal for the Andhra Pradesh-based hospital to increase Aster DM’s healthcare services portfolio.

By Sajhyadri | December 30, 2022 10:25 AM Read more
Hariom Pipe Industries stock snaps after a 3-day hike

The company witnessed a drop on December 29 after its consecutive 3-day hike. The stock noted an overall hike of 140% since its IPO issue in April.

By Friyana | December 30, 2022 10:21 AM Read more
Retail industry might see more consolidations in 2023

The number of consolidations occurring in the retail industry may go up significantly, with organisations looking to optimise efficiency and boost their geographic presence.

By Shivani | December 30, 2022 09:48 AM Read more
KYC compulsory for buying new travel, auto, and health insurance from January 1

IRDAI has made it compulsory for customers to provide their KYC details when purchasing a new general, life or health insurance product from January 1, onwards.

By Friyana | December 29, 2022 05:37 PM Read more
Organised gold jewellery retailers’ revenue increases by 23-25% in FY23

This increase was because of revenue from realisations, recovery of discretionary spending and repressed demand, according to CRISIL, a ratings firm. They expect a further 8-12% growth in the next fiscal.

By Aadeesh | December 29, 2022 03:50 PM Read more
Bandhan Bank revises FD rates to offer maximum interest of 8.15%

The bank made these new rates effective from 28th December 2022, which is 7.90% on tenors of callable bulk deposits and 8.15% for non-callable bulk FDs.

By Sajhyadri | December 29, 2022 02:30 PM Read more
JSW Neo Energy and two others compete to acquire Continuum

Continuum may sell 100% stake to JSW Neo Energy Limited, Petroliam Nasional Berhad (Petronas), or Sembcorp Industries, in a deal worth around $1.5 Billion.

By Shivani | December 29, 2022 02:10 PM Read more
NBFCs and banks aim for market expansion in gold loans segment

While NBFCs revived their lost market share in gold loans compared to banks, in FY2022, both financial sectors aim to tap into this segment.

By Sajhyadri | December 29, 2022 01:50 PM Read more
Katpadi, TN records 7x growth in digital payments in 2022: Paytm study

This has made it the fastest-growing city in the digital payments field. Similarly, Delhi-NCR emerged as the digital payments capital of India this year.

By Aadeesh | December 29, 2022 01:22 PM Read more
Borrowers seen opting for more loans against fixed deposits

According to RBI, this segment of loans has seen a growth of 43.4% YoY in October 2022. Customers opt for these to get higher interest benefits.

By Friyana | December 29, 2022 12:51 PM Read more
SIDBI starts ‘Saath’ debt lending programme for SC/ST entrepreneurs

Sivasubramanian Ramann, SIDBI’s Chairman launched the scheme in Punjab’s Hoshiarpur, with an aim to help flourish SC/ST castes' entrepreneurs post the COVID-19 pandemic.

By Sajhyadri | December 29, 2022 12:30 PM Read more
JSW Energy completes Ind-Barath Energy acquisition for ₹1,047 Crores

JSW Energy announced the completion of the acquisition on Wednesday, 28th December 2022. It now owns 95% of Ind-Barath Energy’s equity shares.

By Aadeesh | December 29, 2022 12:29 PM Read more
Paytm shares rise by over 12% in 3 trading sessions

Paytm’s parent company, One 97 Communications noted a surge in its stock price which rise from ₹476.40 per share to ₹534.75 in 3 trading sessions.

By Friyana | December 29, 2022 12:21 PM Read more
Spandana Sphoorty Financial pursues sale of stressed loans

Spandana Sphoorty Financial Limited is going to transfer ownership of its stressed loans portfolio to an asset reconstruction company for around ₹95 Crores.

By Shivani | December 29, 2022 11:58 AM Read more
BNPL platform Uni reports losses of ₹139.5 Crores in FY2022

Its parent company of Uniorbit Technologies Pvt. Ltd. attributed this loss to a rise in expenses to ₹161.7 Crores from a higher number of employees and promotion rounds.

By Sajhyadri | December 29, 2022 11:55 AM Read more
India notes record mergers and acquisitions worth $152 Billion in 2022

The figure increased from the $107 Billion noted in 2021 with the help of some huge transactions, including HDFC Ltd. And HDFC Bank merger worth $40 Billion.

By Friyana | December 29, 2022 11:45 AM Read more
India’s agrochemical sector may grow by over 15% in FY23

A CRISIL report forecasted India’s agrochemical market sector to grow by 15-17% in FY23, amidst rising indigenous demand and a booming number of exports.

By Shivani | December 29, 2022 11:32 AM Read more
Google employees brace for upcoming cost-cutting drive

Google employees in Switzerland recently wrote to the company’s Vice President of Human Resources, regarding the new employee evaluation system, which may be utilised to bring down the workforce.

By Aadeesh | December 29, 2022 11:20 AM Read more
Airtel to additionally invest over ₹27,000 Crores aimed towards 5G rollout

Bharti Airtel declared that it will not charge premium rates for 5G services. It also has plans to hike its capital expenditure by about 10% to 15%.

By Friyana | December 29, 2022 10:45 AM Read more
Scams in banking sector rose to 5,406 in Apr-Sept '22

A central bank study, ‘Report on Trend and Progress of Banking in India 2021-22’ showed that banking sector frauds increased in volume, but diminished in net value.

By Shivani | December 29, 2022 10:35 AM Read more
Goldman Sachs to announce fresh round of layoffs soon

Planned to curb drops in profit and revenue, CEO David Solomon announced that the company will reveal the details of the proposed job cuts in a few weeks.

By Sajhyadri | December 29, 2022 10:30 AM Read more
India looking to double size of auto industry to ₹15 Lakh Crores before 2024-end

Through this, Nitin Gadkari believes that the country will become one of the pioneers in this sector. He also mentioned that projects worth ₹5 Lakh Crores will be launched in the coming year.

By Aadeesh | December 29, 2022 10:21 AM Read more
Payment fraud reporting to be shifted to RBI’s DAKSH

Currently, payment system operators and scheduled banks are required to submit complaints about financial scams through the Electronic Data Submission Portal.

By Shivani | December 29, 2022 10:02 AM Read more
2023 may see the launch of more co-branded credit cards

Many bankers forecasted that in the coming year, more co-branded credit cards may be rolled out, as establishments seek growth by penetrating into new markets.

By Shivani | December 28, 2022 12:02 PM Read more
Delhi man scams people over share market profits

A 44-year-old man from Delhi, named Mayank Palan was arrested by the police for scamming people on the pretence of providing them with high amounts of profits through the stock market.

By Aadeesh | December 28, 2022 11:45 AM Read more
Lenders launch more digital platforms to serve budding businesses

Banks and NBFCs are looking to serve more budding businesses and small traders by launching digital platforms paperlessly offering to cross-sell services and value-added products.

By Shivani | December 28, 2022 11:30 AM Read more
DPIIT Secretary: Start-ups to attract foreign direct investments in the coming year

He said that India, the 3rd largest start-up ecosystem in the world, will attract foreign direct investments in 2023 with the new emerging companies.

By Friyana | December 28, 2022 11:21 AM Read more
Potential data breach of 3 crore railway passengers reported

After the data breach of AIIMS, another similar hack on the Indian Railways’ database has been revealed. However, the Railways have not yet given any official confirmation of the same.

By Aadeesh | December 28, 2022 11:18 AM Read more
Merchant Credit Card Scheme for MSMEs to be launched soon

Under the scheme, the Centre plans to roll out a specialised credit card for MSMEs. It may come with an interest-free period of 50 days and subsidised interest rates later on.

By Shivani | December 28, 2022 10:52 AM Read more
Bain & Company: India’s fintech industry may face tough 2023 as investments cool

A partner of Bain & Company, Rakesh Pozhath, stated that India’s fintech industry could see some difficulties like tight liquidity and more in 2023, resulting in higher costs for some companies

By Aadeesh | December 28, 2022 10:47 AM Read more
Indian start-ups sacked about 18,000 employees this year

According to Longhouse Consulting, about 17,989 employees were let go by 52 start-up companies in 2022. Over half of these layoffs were seen in ed-tech companies.

By Friyana | December 28, 2022 10:47 AM Read more
Over 829 million cyber attacks blocked in India during Q4 2022, says report

A recently released report titled ‘State of Application Security Q4, 2022' by Indusface revealed that 59% of all attacked websites were from India and that over 829 million attacks were blocked this quarter.

By Aadeesh | December 28, 2022 10:26 AM Read more
RBI to consolidate framework of charges for swifter, more secure payments

The central bank hopes that, by streamlining the charges, the transactions will be made more cost-effective, reliable, secure, and fast for users.

By Shivani | December 28, 2022 10:21 AM Read more
FinMin Report: Overall govt. debt grows to ₹147 Trillion in Q2FY23

Finance Ministry’s quarterly report on public debt management revealed that the Central Government’s total liabilities grew by ₹1.47 Lakh Crores in the September-ending quarter, as opposed to the June-ending one.

By Aadeesh | December 28, 2022 10:00 AM Read more
ANAROCK: Housing sales in India noted an all-time high this year

ANAROCK Group revealed that housing sales in India have surpassed its previous high of 2014 to set a new record of 3,64,900 unit sales across 7 cities, in 2022.

By Friyana | December 28, 2022 09:53 AM Read more
Banking scams dropped by 46% in April-September 2022

The RBI recently published a report which stated that the incidents of banking fraud declined by 46% between April-September 2022, to amount to ₹19,485 Crores.

By Shivani | December 28, 2022 09:34 AM Read more
Tripura’s government employees to get a 12% hike in DA

As per the revision, the rates have been increased from 8% to 20%. These new rates are effective from 1st December 2022.

By Friyana | December 28, 2022 09:21 AM Read more
PFRDA proposes to include gig workers in the NPS scheme

India’s pension regulator aims to include over 90% of the gig workforce of the country in the National Pension Scheme.

By Friyana | December 28, 2022 09:13 AM Read more
Manufacturing companies to ramp up hiring amidst global uncertainties

As per a recent survey, even amidst rising uncertainties in the global market, manufacturing companies are expected to expand their hiring in Q4FY23.

By Friyana | December 27, 2022 05:39 PM Read more
Religare Finvest Ltd. hopes to restart operations in 2023

RFL is set to restart business operations in the coming year after receiving approval from its lenders for its proposal of a One Time Settlement (OTS) of ₹2,300 Crores.

By Friyana | December 27, 2022 04:31 PM Read more
ICICI Bank, Axis Bank and SBI to launch RuPay credit cards on UPI by March 2023

So far, three public sector banks, Indian Bank, Punjab National Bank (PNB), and the Union Bank of India have launched RuPay credit cards over the UPI platforms.

By Aadeesh | December 27, 2022 04:15 PM Read more
Narayani Steels’ shares hit over 500% in 2022

The company’s shares crossed 580% in 2022, after a 56% decline recorded in 2021. The scrip is now under focus as Aditya Agrawal, the promoter has proposed selling 4.99% of his stake in an OFS.

By Aadeesh | December 27, 2022 03:53 PM Read more
FMCG sector to remain hopeful for lost volume recovery in 2023

FMCG firms are cautiously optimistic, hoping that the coming year will lead to a recovery in terms of volume and margin in the sector.

By Friyana | December 27, 2022 03:33 PM Read more
Demand for home loans, BNPL may see growth in 2023

A report released by BankBazaar recently, titled “Moneymood Retail Credit Trends”, stated that credit market growth in 2022 resulted in better bank credit during the year.

By Aadeesh | December 27, 2022 03:32 PM Read more
JBM Auto achieves new 7-month high, rises 26% in 2 weeks

On Tuesday, 27th December 2022’s intra-day trade, the company achieved a new seven-month high of ₹516.45, in the middle of a volatile market, and even rallied 26% in the last two weeks.

By Aadeesh | December 27, 2022 02:51 PM Read more
Manappuram Finance to raise funds through debt offering

The Kerala-based gold loan-providing NBFC might issue debt securities amongst other borrowings to raise funds in January 2023.

By Friyana | December 27, 2022 02:40 PM Read more
Gold prices experience slight uptick amidst a weaker dollar

On 27th December 2022, spot gold prices experienced a surge of 0.3% to $1,802.63 per ounce. A weaker U.S. Dollar post-Christmas further supported the appreciation.

By Shivani | December 27, 2022 02:26 PM Read more
Billionaires worldwide find India to be a leading market to invest in

Findings of the recent UBS Billionaire Ambitions Report 2022 revealed that billionaires across the world find India to be one of the leading markets to invest in.

By Friyana | December 27, 2022 02:01 PM Read more
Money View raises $75 Million in Series E funding round

The Bengaluru-based fintech company’s funding round was led by Apis Partners and is witnessing participation from firms such as Evolvence, Winter Capital and Tiger Global.

By Aadeesh | December 27, 2022 01:59 PM Read more
Bajaj Finance and HDFC hike deposit rates

This is the 9th hike in fixed deposit interest rates announced in 2022 by these leading financial institutions. These have been increased by 10-25 bps.

By Friyana | December 27, 2022 12:55 PM Read more
25,000 Flipkart group employees to benefit from $700 Million cash payout

This marks the biggest wealth creation opportunity within the country’s startup space and is occurring during a time when employees are having a rough year, following the company’s steep expenses.

By Aadeesh | December 27, 2022 12:23 PM Read more
Bank of Baroda hikes deposit rates for the 2nd time this quarter

Following its previous hike of 100 bps in November, BoB increased its fixed and term deposit rates for the 2nd time this quarter.

By Friyana | December 27, 2022 12:18 PM Read more
Mutual funds’ distribution commission soars to 55% of expense ratio

Mutual funds’ distribution commission rates surged to 55% of their expense ratios, thus reducing profits. This happened after SEBI revised fees charged, on 23rd December 2022.

By Shivani | December 27, 2022 12:11 PM Read more
Private sector banks record rise of 38.4% in market share, in September

Private sector banks’ rise in market share saw significant contributions from financial institutions such as HDFC Bank, Axis Bank, Kotak Mahindra Bank, and ICICI Bank, in terms of credit offtake.

By Aadeesh | December 27, 2022 11:53 AM Read more
LIC Housing Finance increased its prime lending rate by 35 bps

LIC Housing Finance hiked their LIC Housing Prime Lending Rate by 35 basis points. With this, the home loan rates also increased to touch 8.65%.

By Friyana | December 27, 2022 11:33 AM Read more
SEBI expands 2 committees to toughen cyber security frameworks

The Information Systems Security Committee (ISSC) and the High Powered Steering Committee on Cyber Security (HPSC-CS) were boosted to comprise 7 and 8 members respectively.

By Shivani | December 27, 2022 11:16 AM Read more
EAC-PM member speaks against unfunded pension schemes for 2023

He expressed concerns about the reintroduction of the old pension scheme in certain states. According to him, 2023 could be a difficult time due to various factors.

By Aadeesh | December 27, 2022 11:16 AM Read more
NeSL converts 1 million loan papers to digital format with DDE platform

The government-backed company has processed around one million loan papers for digitization through its digital documentation execution platform. It is said to help avoid fraud and provide benefits.

By Aadeesh | December 27, 2022 10:46 AM Read more
Financial services sector faces increasing attrition

In 2022, around 25% of employees working in the financial services sector resigned from their jobs, found a study conducted by consulting firm Aon plc.

By Shivani | December 27, 2022 10:41 AM Read more
ASK Property Fund sells investments in Eldeco Centre, Delhi

ASK Property Fund has sold its investments in Eldeco Centre, worth ₹120 Crores. With this, they have made total exits amounting to ₹1,000 in the ongoing calendar year.

By Aadeesh | December 27, 2022 10:13 AM Read more
Hiring spree observed in blue-collar industry

Employers of blue-collar workers, especially in tier 1 and tier 2 cities like Pune, Mumbai, Jaipur, Delhi-NCR, etc. are looking to hire more talent to enhance their operations.

By Shivani | December 27, 2022 09:55 AM Read more
57% employees seek a salary hike of over 12% in 2023

After receiving significant salary hikes in the previous year, employees expect similar increments. However, with the current headwinds, the realisation of such hopes is questionable.

By Shivani | December 27, 2022 09:50 AM Read more
HPCL looking to sell part of its stake in HSEPL subsidiary

Sources also added that HSEPL is setting up an LNG terminal of 5 MTPA capacity in Gujarat at an average cost of ₹4,300 Crores, which can be expanded in the future.

By Sajhyadri | December 26, 2022 01:25 PM Read more
Wadia Group plans to invest ₹510 Crores in Go First

Wadia Group’s investment will be routed towards addressing the airline’s working capital requirements, along with securing funds for other general corporate purposes.

By Shivani | December 26, 2022 12:38 PM Read more
Winter Capital Partners invests additional $9 Million in CollegeDekho

As per the company’s official statement, the entity noted a revenue of nearly ₹100 Crores in FY22, which is expected to double in FY23.

By Friyana | December 26, 2022 12:23 PM Read more
IFC lends $400 Million to HDFC for funding green housing units

The World Bank Group member reportedly finalised the loan deal to boost India’s segment of green housing and HDFC’s funding portfolio of the same.

By Sajhyadri | December 26, 2022 12:15 PM Read more
Corporate organisations to onboard more women employees in 2023

Companies like HDFC Bank Limited, The Procter and Gamble Company, Cognizant, etc. are offering special benefits to female employees, to boost gender diversity.

By Shivani | December 26, 2022 11:49 AM Read more
FPIs invest ₹11,557 Crores in Indian equities in December 2022

The figure was recorded despite market correction and increasing concerns about the re-emergence of Corona in China and other parts of the globe.

By Friyana | December 26, 2022 11:33 AM Read more
90% health insurance coverage in Rajasthan, says Ashok Gehlot

Rajasthan’s Chief Minister made the claim on 25th December 2022, adding that the state was far ahead of the average national insurance coverage of 41%.

By Sajhyadri | December 26, 2022 11:30 AM Read more
Hotel and resort assets attract more investors

Investors and strategic buyers are on the lookout for viable hotel and resort assets to invest in after the industry logged significant growth post-COVID-19.

By Shivani | December 26, 2022 11:05 AM Read more
Credit card spending dwindles for the first time in 6 months

With the festive season coming to an end, the average credit card spending declined by almost 12% from October to November.

By Friyana | December 26, 2022 10:45 AM Read more
PayU India lays off 150 employees, around 6% of local workforce

According to internal sources, the payment solutions provider took the step as it realigns several teams across business in India, to realise long-term goals.

By Sajhyadri | December 26, 2022 10:20 AM Read more
Advent International to acquire stake in Suven Pharmaceuticals

The global equity firm, Advent International will purchase a 51% stake in Suven Pharmaceuticals Ltd., and launch an open offer for an additional 26% shares.

By Shivani | December 26, 2022 10:09 AM Read more
2023 to bring global recession

As per recent findings of the Centre for Economics and Business Research, due to rising interest rates to curb inflation, the world will face a recession in 2023.

By Friyana | December 26, 2022 09:52 AM Read more
Weekly Markets: Indices close in red; Sensex slides by over 900 points; Rupee depreciates

Amidst significant volatility, Sensex slid by 980.93 points, or 1.61%, to end the session at 59,845.29 on Friday, 23rd December 2022. The Indian Rupee fell by 10 paise to stand at ₹82.86 per US Dollar.

By Shivani | December 23, 2022 04:54 PM Read more
Droneacharya Aerial Innovations debuts on the BSE at 90% premium

The Pune-based drone start-up company made a showstopping debut on the BSE and was listed at ₹102 per unit against its base price of ₹54 per share.

By Friyana | December 23, 2022 03:12 PM Read more
Baroda BNP Paribas Mutual Fund collects over ₹1,200 Crores of AUM

Its assets under management were worth over ₹1,234.72 Crores, collected through a new fund offer. It accepted subscribers from November 28-December 12, 2022.

By Shivani | December 23, 2022 01:49 PM Read more
Shriram Finance to raise its retail fixed deposits to 25%

The merger company will raise its fixed deposits from the current 20% contribution worth ₹32,000 Crores to 25% within the next few years.

By Friyana | December 23, 2022 01:41 PM Read more
M1xchange expects over 2x growth in current fiscal

Discounting trade receivables platform provider, M1xchange forecasted growth of over 100%, amounting to a total of ₹25,000-30,000 Crores, for the current fiscal year.

By Shivani | December 23, 2022 01:21 PM Read more
Bank of Maharashtra raises over ₹880 Crores through bonds

The bank collected ₹880 Crores through bonds, by 22nd December 2022, after which it closed the issue. The allotment date has been set to December 26.

By Friyana | December 23, 2022 01:04 PM Read more
More than 2 lakh COVID-19 death claims settled by insurers in March

Insurance Regulatory and Development Authority of India's (IRDAI) report showed that up until March 2022, insurers settled over 2.25 lakh COVID-19 death claims.

By Shivani | December 23, 2022 12:58 PM Read more
‘Godfather’ malware infiltrated 215 banking apps in 16 countries

It requests users to grant 23 permissions, upon which it steals banking credentials, SMSs, etc. and even disables/alters the password security of the compromised device.

By Shivani | December 23, 2022 12:26 PM Read more
Pharmaceutical companies to hire more medical representatives

Sun Pharmaceuticals, Dr. Reddy’s Laboratories and Cipla are some companies hiring more field managers and representatives to increase their market share.

By Friyana | December 23, 2022 12:20 PM Read more
Bandhan Bank to make India’s second largest stressed loan portfolio sale

The bank is currently in its advanced stage to sell off stressed microfinance loans worth ₹8,897 Crores to Phoenix ARC.

By Friyana | December 23, 2022 11:15 AM Read more
Will benefits continue under a new owner, IDBI Bank pensioners seek clarification

Retired employees of IDBI Bank asked whether they will still be entitled to their pension and voluntary health schemes (VHS) benefits, post the ownership changes.

By Shivani | December 23, 2022 10:52 AM Read more
Budget 2023: Some transactions may not require PAN

The development might come about as a result of the argument of financial organisations that since their accounts are already Aadhar-linked, PAN shouldn’t be a requirement.

By Shivani | December 23, 2022 09:51 AM Read more
Retired bank employee loses over ₹9 Lakhs to cyber criminals while lodging complaint

A former employee of Union Bank, and resident at Borivali (East) in Mumbai, Pushpalata Pradip Chinderkar, aged 68, was cheated of ₹9.15 Lakhs while registering a complaint to her bank regarding her FD.

By Aadeesh | December 22, 2022 03:05 PM Read more
RBI might raise repo rate in 2023 to counter inflation

There is a 60% probability that the Reserve Bank of India might hike its repo rate to 6.75% in 2023, in an attempt to fight rising inflation.

By Shivani | December 22, 2022 02:55 PM Read more
Fintech players at BFSI summit: Rising cyber threats are a major concern

At the Business Standard Banking & Financial Services Industry (BFSI) Insight Summit, a discussion was conducted regarding cyber threats in the finance sector.

By Friyana | December 22, 2022 01:18 PM Read more
Precision Wires India Ltd. issues bonus shares

At a meeting held on 16th December 2022, the board of directors of the company decided to issue bonus shares in a 1:2 ratio.

By Friyana | December 22, 2022 12:48 PM Read more
Nifty 50 dropped below 18,200 amidst fresh COVID-19 fears

After China and the U.S. reported fresh COVID-19 outbreaks, Nifty 50 tumbled to 18,199.10. on 21st December 2022. A wide-ranging pressure to sell was observed.

By Shivani | December 22, 2022 12:45 PM Read more
SIDBI to provide extended support for micro-lending to MFIs

The Small Industries Development Bank of India (SIDBI) has reverted to its earlier plans with regard to microfinance institutions (MFIs), wherein they plan on providing them support for micro-lending operations.

By Aadeesh | December 22, 2022 12:44 PM Read more
Maven India Fund buys stake in Tirupati Forge Ltd.

6.50 lakh shares of Tirupati Forge Limited worth ₹1,49,50,000 were bought by Maven India Fund. The former was listed on NSE SME exchange in October 2017, and its stocks have grown by 300% in the past two years.

By Aadeesh | December 22, 2022 12:17 PM Read more
Non-life insurance segment may log return on equity of 13-14%

Credit rating company CareEdge stated that even if profits remain diminished, non-life insurance companies may expect a return on equity of 13-14% in the medium term.

By Shivani | December 22, 2022 12:12 PM Read more
Rupee hikes up by 10 paise against the US Dollar

The rupee opened at ₹82.78 against the dollar on Thursday, 22nd December 2022. Dealers believe that the rise was limited by the outflow of forex from capital markets.

By Friyana | December 22, 2022 11:51 AM Read more
Sula Vineyards debuts at a premium of 1%

The wine producer debuted on the National Stock Exchange and Bombay Stock Exchange on 22nd December 2022, listed at ₹361 and ₹358 respectively.

By Shivani | December 22, 2022 11:41 AM Read more
Liability management now prime concern for lenders, say private bank CEOs

The Business Standard BFSI Insight Summit was conducted on Wednesday, 21st December 2022, where high-ranking private lender officials convened to talk about the current scenario of banking.

By Aadeesh | December 22, 2022 11:40 AM Read more
Eggoz generates $8.8 Million in Series-B funding round

The funding round was led by IvyCap Ventures Pvt. Ltd., a Mumbai-based company. Other investors such as Avaana Capital, Rebright Partners, and Nabventures were part of the funding round.

By Aadeesh | December 22, 2022 11:16 AM Read more
KreditBee aims to hit $1 Billion AUM within 6 months

Madhusudan Ekambaram, the CEO of the NBFC firm said that the company aims to hit the $1 Billion-mark for assets under management in the next 6 months.

By Friyana | December 22, 2022 11:14 AM Read more
Metro AG's Indian wholesale business to be acquired by Reliance

METRO Cash & Carry India Pvt Ltd. will be acquired by Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Ltd., in a deal worth ₹2,850 Crores.

By Shivani | December 22, 2022 10:51 AM Read more
M3M buys 350-acre land in Panipat, aims to build ₹2,700 Crore township

The township will be self-sustaining and feature state-of-the-art facilities. It initially cost the company ₹1,500 Crores, but they plan on making another ₹1,200 Crores worth of investments in the project.

By Aadeesh | December 22, 2022 10:49 AM Read more
New regulations for qualified brokers might hike up compliance costs

SEBI will designate 16 top brokers of the country as qualified stock brokers (QSBs) and will soon release a detailed framework for these.

By Friyana | December 22, 2022 10:38 AM Read more
India Inc set to drive ESG plans with new talent

Many companies in India are now looking for new talent to help start their environmental social and governance (ESG) initiatives, and stringent rules and policies regarding it are slowly being adopted.

By Aadeesh | December 22, 2022 10:23 AM Read more
Minimum assured return scheme to be launched by May-June 2023

The scheme will be the first of its kind across the globe, guaranteeing subscribers a yearly return of 4-5% on the pension corpus for 10 years.

By Shivani | December 22, 2022 10:18 AM Read more
Bajaj Capital introduces portfolio analysis report for Indian investors

The report, called EDGE, provides investors with the ability to put up their CAS and get a detailed statement of all their investments through fixed deposits, mutual funds, the National Pension System, etc.

By Aadeesh | December 21, 2022 05:29 PM Read more
Daiki Axis Japan to increase presence in South India with fresh investments

The company’s Japanese division aims to create new plans in each Indian state in the long run. Their second unit in Palwal, Haryana, was recently inaugurated by the state’s Chief Minister, Manohar Lal Khattar.

By Aadeesh | December 21, 2022 04:10 PM Read more
SpiceJet proposes to repay debts by turning creditors into stakeholders

The airline will convert its aircraft lessors into potential shareholders by selling them compulsorily convertible debentures of its cargo line of business.

By Shivani | December 21, 2022 03:58 PM Read more
Reliance Capital commences bidding, Cosmea backs out of auction

The sale of Reliance Capital through an e-auction was to begin today, 21st December 2022, and has a starting bid of ₹6,500 Crores. Cosmea Financial Holdings will no longer be a part of the auction.

By Aadeesh | December 21, 2022 03:25 PM Read more
Over 12 lakh subscribers joined the EPFO in October

Approximately 12.9 lakh subscribers joined the Employees' Provident Fund Organisation in October 2022, revealed the Union Labour and Employment Ministry.

By Shivani | December 21, 2022 02:55 PM Read more
SEBI to introduce blue bonds and yellow bonds

These will be introduced as sub-categories of green bonds and will help strengthen the framework for green debt securities.

By Friyana | December 21, 2022 02:53 PM Read more
Canara Bank revises interest rates for savings accounts

Following the change, customers can now receive a maximum of 4% interest on their outstanding savings account balances, effective from today, 21st December 2022.

By Aadeesh | December 21, 2022 02:45 PM Read more
Motilal Oswal to start accepting subscriptions for 5 international funds

Investors can start subscribing to these 5 overseas mutual funds from 1st January 2023 again. Payment options include systematic investment and lump-sum.

By Shivani | December 21, 2022 02:23 PM Read more
Intel India set to increase focus on recruitments from tier 2 and 3 colleges

The tech giant aims to increase its resources pool and bring in new talent. Other initiatives are also ongoing at present, which hope to develop the talent pool for the tech industry.

By Aadeesh | December 21, 2022 02:10 PM Read more
Axis PFM appointed as a Pension Fund Manager by PFRDA

Axis Pension Fund Management Limited will be responsible for handling the pension funds of investors across all citizens’ models in the government and corporate sectors.

By Friyana | December 21, 2022 02:05 PM Read more
Private cryptocurrencies may cause the next financial crisis

Reserve Bank of India's Governor stated that private cryptocurrencies disregard the national currency and try to break the system, which could create macroeconomic instability.

By Shivani | December 21, 2022 01:55 PM Read more
Buy-sale ratio of mutual funds falls below long-term average in November

Equity mutual funds’ gross buy-sell ratio came to 1.09 in November, compared to the long-term average of 1.59, as per data from AMFI. It fell three months in a row, displaying investors’ cautious approach.

By Aadeesh | December 21, 2022 01:33 PM Read more
Himachal CM urges Finance Department to finalise old pension scheme proposal

Chief Minister Sukhvinder Singh Sukhu stated that the proposal for the Old Pension Scheme has to be finalised at the earliest because it is due for implementation.

By Shivani | December 21, 2022 12:51 PM Read more
2022 NFO collections drop as new fund launches dry up

NFO collections in 2022 were recorded at ₹53,700 Crores until November 2022 against the ₹1 lakh Crore noted in 2021.

By Friyana | December 21, 2022 12:44 PM Read more
Mumbai-based IT professional duped of over ₹37 Lakhs by cyber criminals

The man was swindled off ₹37.80 Lakhs on the pretence of being given a decent commission for doing simple rating tasks. He received a link for it via an unknown person on the Telegram app.

By Aadeesh | December 21, 2022 12:05 PM Read more
SEBI releases fresh norms for InvITs and REITs

Along with fresh rules applicable to infrastructure assets, the regulator ruled that governance procedures for market infrastructure institutions will be tightened, too.

By Shivani | December 21, 2022 12:05 PM Read more
SEBI: MF investment platforms will soon be able to charge transaction fees

SEBI introduced a new framework for investor platforms on Tuesday. With this, online investment platforms will be allowed to charge a fee on mutual fund transactions.

By Friyana | December 21, 2022 11:42 AM Read more
77% service sector firms interested in hiring new employees for Q4FY23

In spite of the ongoing global recession, about 77% of Indian employers in the services sector are seeking to hire new recruits during the current fiscal year’s fourth quarter, marking a positive trend forward.

By Aadeesh | December 21, 2022 11:33 AM Read more
Airtel acquires 8% stake in Lemnisk

Bharti Airtel Limited acquired an 8% stake in tech startup Lemnisk (Immensitas Private Limited) on 20th December 2022, under its Start Up Accelerator Program.

By Shivani | December 21, 2022 11:29 AM Read more
Domino’s Pizza in talks for mega expansion in India

Owing to its increased number of network chain outlets, Domino’s also announced a new initiative that offers deliveries in 20 minutes.

By Chanel | December 21, 2022 11:22 AM Read more
City Union Bank’s shares fall after RBI finds divergence of gross NPAs worth ₹259 Crore

During the early trading session on Wednesday, 21st December 2022, City Union Bank’s share prices fell by 6%, after RBI’s announcement. The divergence includes 13 borrower accounts.

By Aadeesh | December 21, 2022 10:59 AM Read more
EPFO urges field offices to hasten credit of contributions’ processing

The Employees’ Provident Fund Organisation asked field offices to quicken the processing of credit of contributions after it received delay complaints about the same.

By Shivani | December 21, 2022 10:59 AM Read more
Bajaj Finance underperforms on indices, first time in 14 years

The company’s shares have fallen by about 4.8%, resulting in negative annual returns for the first time since 2011. Despite its underperformance, it's still considered a desirable investment.

By Chanel | December 21, 2022 10:58 AM Read more
Allied Blenders and Distillers secures IPO approval from SEBI

The Mumbai-based liquor manufacturer got its nod of approval from the Securities and Exchange Board of India, to proceed with its initial public offer of ₹2,000 Crores.

By Shivani | December 21, 2022 10:29 AM Read more
Unemployment rate in December 2022 surpasses pandemic levels

The unemployment rate has been rising at a sharp pace since September 2022 and crossed 9% over a moving average basis of 30 days, as on December 19, according to data from CMIE.

By Aadeesh | December 21, 2022 10:26 AM Read more
BigBasket’s valuation crosses $3 Billion after latest fund raising

This translates to a 60% jump from its last infusion round. Back in March, BigBasket had been valued at $2.7 Billion.

By Chanel | December 21, 2022 10:24 AM Read more
Kolkata Police introduces cyber crime awareness mascot ‘CyBro’

CyBro will be deployed as the official mascot of Kolkata Police’s cyber crime unit. It will also be used to spread awareness about prevalent crimes being committed online and offline.

By Shivani | December 20, 2022 03:39 PM Read more
UCO Bank raises FD rates by up to 25 bps

UCO Bank has raised its interest rates on fixed deposits that are less than ₹2 Crores. The revised rates have been in effect since 19th December 2022.

By Aadeesh | December 20, 2022 03:08 PM Read more
SVC Bank collaborates with SBI General Insurance

The two organisations entered into a partnership on 19th December 2022. Through the tie-up, SVC’s customers will have access to SBI’s plethora of insurance offerings.

By Shivani | December 20, 2022 02:40 PM Read more
India’s first Surety Bond Insurance launched

This product for infrastructure developers and contractors was launched by the Minister of Road, Transport, and Highways, Nitin Gadkari, on 19th December 2022.

By Shivani | December 20, 2022 02:14 PM Read more
JP Morgan invests in payments provider ISG

JP Morgan has invested an unmentioned amount into the Mumbai-based company, Insolutions Global Ltd. (ISG), and aims to create new payment opportunities in the Asia Pacific region.

By Aadeesh | December 20, 2022 02:04 PM Read more
SEBI plans to reduce broker float to under one day

According to people in the know, this reduction could potentially affect the revenue earned by brokers and necessitate increased working capital.

By Chanel | December 20, 2022 01:54 PM Read more
LIC raises stake in IRCTC by 2%

The company now has a 7.278% stake in IRCTC from its previous 5.005%, marking an estimated 2% rise in its holdings. The shares were purchased for ₹692.28, between October 17 -December 16.

By Aadeesh | December 20, 2022 01:24 PM Read more
Cyber Cell to shut down over 300 websites and apps over loan fraud

The Ahmedabad Cyber Cell, along with the Ministry of Home Affairs, is making efforts to take down over 300 apps and websites, through which loan frauds are carried out.

By Friyana | December 20, 2022 12:58 PM Read more
Yes Bank finishes transfer of bad loans worth $5.81 Billion to JC Flowers

Yes Bank made the move in order to clear out its balance sheet, and is considered the biggest transfer/sale of such bad loans in India. It was done two years after the RBI took control of the lender.

By Aadeesh | December 20, 2022 12:56 PM Read more
Ex-police sub-inspector duped off over ₹8 Lakhs

The victim received a call from a person posing to be a treasury officer. Later, the former sub-inspector shared his personal documents and an OTP, only to lose over ₹8.50 Lakhs to the conman.

By Shivani | December 20, 2022 12:44 PM Read more
India likely to waiver taxes for IDBI Bank buyer

Two sources from the government revealed that the government may offer tax waivers for the buyer of IDBI Bank, in order to generate interest in the upcoming majority sale of their stake.

By Aadeesh | December 20, 2022 12:27 PM Read more
Elin Electronics raised over ₹142 Crores ahead of IPO through anchor book

Ahead of its IPO set to open on 20th December 2022, the company decided to raise funds via anchor investors.

By Friyana | December 20, 2022 12:25 PM Read more
Railways’ job fraud conned people off over ₹2 Crores

At least 28 people were made to pay between ₹2 Lakhs-₹24 Lakhs, being promised a job as a railway ticket examiner, a clerk, or a travel assistant.

By Shivani | December 20, 2022 12:13 PM Read more
Dabur India to sell shares worth ₹800 Crores via block deal

According to sources, Dabur India’s promoters are looking to sell $100 Million worth of shares via a block deal on Tuesday, 20th December 2022.

By Chanel | December 20, 2022 11:56 AM Read more
MSMEs integrated in FY22 employed more than 1 crore individuals

It recorded employment of over 1.31 crore people in FY22, which is a 16% increase compared to the 1.12 crore noted in FY21.

By Friyana | December 20, 2022 11:52 AM Read more
150 posts vacant at SFIO, govt. making efforts to fill vacancies

The Central Government stated that many positions are due to be filled up on a deputation basis. At present, 238 have been sanctioned, of which 150 are vacant, while 88 have been filled up.

By Aadeesh | December 20, 2022 11:39 AM Read more
PNB revises FD rates for investments under ₹2 Crores

The revised fixed deposit interest rates, effective from 19th December 2022, range between 3.50% to 8.05%, for tenures starting from 7 days up to 10 years.

By Shivani | December 20, 2022 11:33 AM Read more
HDFC hikes retail prime lending rate by 35 basis points

The company announced this development via an exchange filing, stating that it will be officially implemented from 20th December 2022.

By Chanel | December 20, 2022 11:29 AM Read more
Wipro enters food segment with acquisition of Kerala-based Nirapara

Wipro Consumer Care and Lighting signed a definitive agreement on Monday, 19th December 2022, to acquire the Kerala-based spice brand, Nirapara.

By Friyana | December 20, 2022 11:05 AM Read more
SEBI suggests modifications for investor grievance redressal mechanism

The Securities and Exchange Board of India plans to make the investor grievance redressal process online, along with reshuffling the Investor Grievance Redressal Committee.

By Shivani | December 20, 2022 11:00 AM Read more
HDFC ERGO, Paytm introduce new insurance policy for mobile transactions

This is a group insurance plan that aims to provide users with coverage for all transactions through UPI across mobile wallet apps. For ₹30 p.a., it offers a cover for transactions of up to ₹10,000.

By Aadeesh | December 20, 2022 10:50 AM Read more
Culinary Brands to bring back Italian coffee chain Lavazza to India

Culinary Brands Pvt. Ltd. will enter a franchise deal with Italian coffee chain Lavazza, which will include the chain’s vending machine business, Fresh & Honest.

By Friyana | December 20, 2022 10:36 AM Read more
EV segment to amp up hiring processes in 2023

Rising demand for electric vehicles has caused manufacturers, other industry players to seek talent for expanding production capacity and rolling out more products.

By Shivani | December 20, 2022 10:26 AM Read more
HDFC raises prime lending rates by 35 bps from today

HDFC has reworked its current Retail Prime Lending Rate (RPLR) on housing loans, over which the Adjustable Rate Home Loans (ARHL) are benchmarked.

By Aadeesh | December 20, 2022 10:18 AM Read more
RBI issues Sovereign Gold Bonds for 2022-23

The exchange rate was set at ₹ 5,409 per gram of gold, with the investment awarding investors an interest of 2.50% per annum, being paid out every other year.

By Shivani | December 19, 2022 05:30 PM Read more
Federal Bank raises interest rates for FDs

The new rates for deposits under ₹2 Crores have been in effect since Sunday, 18th December 2022. Customers can now receive interest between 3% and 6.30% for general and 3.50-6.95% for senior citizens over deposits.

By Aadeesh | December 19, 2022 04:18 PM Read more
Accenture announces employee attrition of 13%

Last quarter, Accenture logged an employee attrition rate of 20%. The current 13% shows an improvement of 700 bps, thus boosting the company’s overall profitability.

By Shivani | December 19, 2022 04:17 PM Read more
Sun Pharma receives warning letter from USFDA, shares fall 2%

The company received a warning from the US Food and Drug Administration regarding violations at their manufacturing unit in Gujarat. Its stocks fell by 2% after the announcement.

By Aadeesh | December 19, 2022 03:45 PM Read more
Gold rates fluctuate near weekly low of ₹54,355

Gold had soared to exceed the mark of ₹55,000 last week. However, U.S. Federal Reserve’s announcement for 2023 rate hikes resulted in declining futures.

By Shivani | December 19, 2022 03:24 PM Read more
Edelweiss Alternatives managed company acquires L&T IDPL for ₹6,000 Crores

Through its company, Edelweiss Alternatives acquired a 100% equity stake in L&T IDPL. It will now be benefitted from L&T’s operating team, which has a great track record of excellence.

By Aadeesh | December 19, 2022 03:20 PM Read more
Tata pursues majority stake in UTI AMC

Once completed, the transaction will result in the newly merged UTI Asset Management Company being the fourth-largest AMC in India.

By Shivani | December 19, 2022 02:42 PM Read more
Google to make investments in women-led early-stage startups

This will be done through the company’s India Digitisation Fund of ₹75,000, according to a senior company official. It also purchased stakes in Jio and Bharti Airtel through the IDF.

By Aadeesh | December 19, 2022 02:39 PM Read more
HDFC set to issue 10 lakh credit cards per month

With this, the bank will double its target against the current rate. It will soon announce partnerships with 2 airlines and a hotel chain.

By Friyana | December 19, 2022 02:24 PM Read more
NSE bans almost 7 stocks from trading in F&Os

Stocks of Bharat Heavy Electricals Limited, Balrampur Chini Mills Ltd. and Delta Corp Limited, among others, were banned from trading in futures and options on 19th December 2022.

By Shivani | December 19, 2022 02:06 PM Read more
Axis Finance requests for intervention of Zee-Sony deal

Axis Finance Limited had asked Raj Kamal Saraogi, the supervisor of the insolvency proceedings, to halt the merger between the two companies as it would disrupt their business.

By Aadeesh | December 19, 2022 02:01 PM Read more
Finance Minister: CSR Expenditure on R&D should grow further

Nirmala Sitharaman stated the need to utilise CSR funds for R&D in order to promote innovation and enable collaboration with academia and industries.

By Aadeesh | December 19, 2022 01:26 PM Read more
IDFC First Bank to charge zero processing fees on 25 banking services

Savings account holders will now have to pay zero processing fees on services like withdrawals, cash deposits, SMS alerts, demand drafts, third-party cash transactions, etc.

By Shivani | December 19, 2022 12:59 PM Read more
KFin Technologies raised ₹675 Crores ahead of IPO

18.44 million share units were allocated to 44 anchor investors. The units have an upper price band of ₹366 apiece. 8 domestic mutual fund houses were a part of the deal, too.

By Shivani | December 19, 2022 12:32 PM Read more
Pine Labs could move their $500 Million IPO to India

They plan on making the move owing to the trying economic conditions in the US and a notable fall in new-gen tech firms’ valuations, according to people with knowledge of the matter.

By Aadeesh | December 19, 2022 12:19 PM Read more
IRCTC OFS: 1.87 times subscription with bids worth over ₹5,086 Crores

Institutional investors subscribed 1.87 times to the IRCTC OFS between December 15-16. Retail investors bid for only 3.73% of the shares reserved for them.

By Friyana | December 19, 2022 12:12 PM Read more
SEBI revises benchmarking guidelines for portfolio managers

The revised norms are aimed at achieving more transparency, better investor analysis, and asset/product distinction.

By Shivani | December 19, 2022 12:01 PM Read more
NASSCOM report reveals tech industry recruited 3.8 lakh freshers in FY22

The report also claimed that more than 70% of Generation Z students plan on taking up jobs in the tech industry in the future and that 79% look to spend more than two years at their first job.

By Aadeesh | December 19, 2022 11:53 AM Read more
Mahindra CIE Automotive’s stock gained for a second day in a row

The shares surged by nearly 6% during their intraday trading session on 16th December 2022, to hit a fresh 52-week high of ₹333.90 on the Bombay Stock Exchange (BSE).

By Shivani | December 19, 2022 11:33 AM Read more
SEBI board to make changes in buyback regulations

On Tuesday, 20th December 2022, SEBI in its board meeting will take decisions on key changes regarding buyback norms and disclosure rules for companies.

By Friyana | December 19, 2022 11:31 AM Read more
Lenders to request RBI for relaxation of norms for NPAs

They plan on requesting easier norms and confinement of provision requirements only for NPAs, banking sources revealed. This would result in the freeing of capital for banks.

By Aadeesh | December 19, 2022 11:25 AM Read more
GalaxEye secures seed funding of $3.5 Million

Investors supporting the space tech organisations included Veda VC, Artha India Ventures, Speciale Invest, Anicut Capital, and Upsparks, among others.

By Shivani | December 19, 2022 11:19 AM Read more
NSDC signed an MoU with AM/NS India for a digital skills training venture

On 16th December 2022, AM/NS India extended its partnership with NSDC to provide digital skills training to over 1,600 young individuals from all over India.

By Friyana | December 19, 2022 10:50 AM Read more
Hindustan Unilever and Tata Consumer looking to acquire Girnar

According to the report published on Friday, 16th December 2022, the deal is currently at its early stage and has a potential valuation of ₹1000-1,500 Crores. It could potentially strengthen the buyer’s market hold.

By Aadeesh | December 19, 2022 10:43 AM Read more
Delhivery now live on e-commerce platform ONDC

On 15th December 2022, Delhivery declared that its network is now live on the government-backed e-commerce platform - the Open Network for Digital Commerce (ONDC).

By Friyana | December 19, 2022 10:16 AM Read more
Tax consultant cheats company of around ₹60 Lakhs

Jyotiranjan Mishra, a tax consultant, stole ₹59.73 Lakhs from Continent Engineers by not utilising the money provided to him for tax payment, but for his personal use instead.

By Aadeesh | December 19, 2022 10:15 AM Read more
HPCL gets approval to raise up to ₹10,000 Crores

The oil and gas manufacturer plans to raise capital by utilising non-convertible debentures, which will be used to fund its marketing and oil refining activities.

By Shivani | December 19, 2022 10:07 AM Read more
Weekly Markets: Bank Nifty touched 44,000 level; Indices continued losing streak

Amidst heavy volatility throughout the week, Bank Nifty managed to cross the 44,000 mark owing to low US consumer prices. On Friday, Sensex and Nifty continued their 2-day losing streak.

By Chanel | December 16, 2022 05:43 PM Read more
14 crore middle-income Indian households by 2030, predicts FM

Finance Minister Nirmala Sitharaman said this at FICCI’s 95th Annual Convention, adding that India’s people and industries have a lot of growth potential in the next 25 years.

By Sajhyadri | December 16, 2022 05:00 PM Read more
Centre to fund agritech start-ups in Budget to develop sector

The government will likely provide low-interest loans and tax incentives to support agro-based start-ups and firms from related sectors to boost the industry.

By Sajhyadri | December 16, 2022 03:55 PM Read more
Freshworks cuts jobs of 90 employees globally, 60 from India

According to the company, this is being done in order to drive its business growth. It is one of the many SaaS firms to have let go of their employees in recent days.

By Aadeesh | December 16, 2022 03:53 PM Read more
Indian Rupee might benefit from falling commodity prices

Analysts stated that falling commodity prices help to aid the Indian Rupee’s exchange rate and could reduce the country’s trade deficit.

By Shivani | December 16, 2022 03:27 PM Read more
Experts: Infra sectors must avoid AIIMS-like attacks via security patches

These experts stated that despite entities increasing their spending on cybers security, vital infrastructures like hospitals, railways and power plants continue operating on older systems.

By Aadeesh | December 16, 2022 03:13 PM Read more
Cyber-attacks in India surged to 12,67,564 till November 2022

Rajeev Chandrasekhar stated this according to data from CERT-In, outlining the various steps that the agency has taken against these rising cyber-attack cases.

By Sajhyadri | December 16, 2022 02:55 PM Read more
PE/VC investments slumped by 42% YoY in November

Though the year-on-year investments declined, when compared to October 2022 levels, PE/VC investments experienced a growth of 18%, hiking to $4 Billion.

By Shivani | December 16, 2022 02:53 PM Read more
HDFC Bank hikes FD interest rates

The freshly revealed interest rates range between 3% to 7.5%. They were made effective for deposits under ₹2 Crores from 14th December 2022.

By Shivani | December 16, 2022 02:13 PM Read more
Gold prices trade flat, set for losses amidst US Fed’s rate hikes

Silver’s rate fell by 0.4% as gold traded flat on Friday’s session. Gold February futures traded at ₹54,093/10 grams on the MCX and was lower by 0.03% or ₹14.

By Aadeesh | December 16, 2022 02:10 PM Read more
PTUAS to support 400 MSMEs till FY2026, says Bhagwanth Khuba

The Minister of State for Chemicals and Fertilizers said that PTUAS works to provide credit-linked solutions and interest subvention to pharmaceutical MSMEs.

By Sajhyadri | December 16, 2022 01:20 PM Read more
Centre disbursed over 16 crore loans under micro credit scheme

The government’s Pradhan Mantri Mudra Yojana micro-credit scheme sanctioned more than 16.67 crore loans worth about ₹9.98 Crores in the past three financial years, from FY20 to FY22.

By Aadeesh | December 16, 2022 01:07 PM Read more
Kotak Mahindra Bank revises FD interest rates

The newly announced interest rates range between 6.75% to 7%. Applicable on deposits lesser than ₹2 Crores, they were made effective on 15th December 2022.

By Shivani | December 16, 2022 12:49 PM Read more
NBFCs may witness a growth of around 10-12% in FY23

Non-banking financial companies also registered a lower number of bad loans being disbursed, with the numbers being down by approximately 40 basis points.

By Shivani | December 16, 2022 12:31 PM Read more
Poonawalla Fincorp sold its housing finance firm for ₹3,900 Crores

The company sold Poonawalla Housing Finance Ltd. to Perseus SG Pte. Ltd., as part of its long-term profitability, valuation, and growth plans.

By Sajhyadri | December 16, 2022 12:25 PM Read more
Sapphire Foods’ stocks rise after block trade

The company’s stocks rose by roughly 3% after the change in hands of their 10.7% equity or 68.2 lakhs shares, as part of a block deal. They informed stock exchanges about the intent to sell 31.77 lakh shares.

By Aadeesh | December 16, 2022 12:10 PM Read more
PSU banks become major bulls with stocks hitting 52-week highs

As several public sector banks increasingly rallied to mark record highs of 52 weeks on 15th December 2022, many investors cashed in on their PSU stocks.

By Sajhyadri | December 16, 2022 11:50 AM Read more
Indegene pursues IPO of ₹3,200 Crores

Healthcare technology solutions provider, Indegene Inc. filed its Initial Public Offer (IPO) papers hoping to raise around ₹3,200 Crores.

By Shivani | December 16, 2022 11:34 AM Read more
Crisil says Indian households could more than double savings in 5 years

The agency believes that the savings can go as high as ₹315 Lakh Crores, which make up 74% of the GDP, before 2027, compared to last year’s ₹135 Lakh Crores or 57%.

By Aadeesh | December 16, 2022 11:15 AM Read more
CBDT allows NRIs to manually file Form 10F without PAN

Applicable till 31st March 2022, the step will ease several problems faced in the e-filing of Form 10F and allow NRIs to claim TDS benefits at a lower rate.

By Sajhyadri | December 16, 2022 11:15 AM Read more
CAD may surge by over 4% in Q2

In terms of absolute value, the current account deficit is likely to go up by $36 Billion. This was attributed to rising crude oil prices and diminishing exports.

By Shivani | December 16, 2022 10:51 AM Read more
Centre to treat overseas dispute settlement as expense

They are considering a change to the existing income tax provisions to allow payments to be made for overseas dispute settlement, which will be considered a part of business expenses.

By Aadeesh | December 16, 2022 10:40 AM Read more
ADB maintains India's GDP growth forecast for FY2023 at 7%

In a report, the bank also predicted next fiscal year’s growth to be 7.2%. The same for Asia has been predicted to be 4.2% in 2022, rising to 4.6% next year.

By Sajhyadri | December 16, 2022 10:25 AM Read more
FM Sitharaman: India on track to achieve fiscal deficit target in FY23

The Finance Minister believes that the fiscal deficit target of 6.4% of the GDP can be achieved, despite the additional ₹4.36 Trillion in spending, as more funds have been allocated due to the revenues’ buoyancy.

By Aadeesh | December 16, 2022 10:15 AM Read more
India may hit 700 million online transaction users by 2030

A study revealed that the number might double from the current 350 million by 2030, owing to the expediting smartphone and internet services industry.

By Shivani | December 16, 2022 10:11 AM Read more
Colgate-Palmolive shares dropped 4.26% on BSE on December 14

The fall was noted after new CEO, Prabha Narasimhan, unveiled the company’s future growth and aspiration plans with increased premiumisation efforts.

By Sajhyadri | December 15, 2022 04:55 PM Read more
HDFC and HDFC Bank merger gets approval from NSE and BSE

On 13th December 2022, the exchanges gave their in-principle permission to the proposed merger, after approvals from several financial authorities like RBI, SEBI, etc.

By Sajhyadri | December 15, 2022 04:15 PM Read more
NCC’s stock surges by over 4% on BSE

This surge happened shortly after India Ratings and Research Limited upgraded the company’s long-term issuer rating from 'IND A' to IND A+'.

By Shivani | December 15, 2022 03:49 PM Read more
KKR-backed J. B. Chemicals to buy Razel from Glenmark Pharma

The transaction between the two pharma giants for a cash deal of ₹313.7 Crores will see the cardiac brand Razel exchange ownership by the end of this year.

By Sajhyadri | December 15, 2022 03:45 PM Read more
OPEC claims India’s recovery pace may slow down next year

The organisation stated in its monthly update that India’s actual GDP only developed by 6.3% YoY in the third quarter, compared to 13.5% YoY in the preceding quarter.

By Aadeesh | December 15, 2022 03:13 PM Read more
M&M allots ₹10,000 Crores to constructing EV facility in Pune

The investment will be made in a systematic manner, over the course of 7-8 years. M&M plans to manufacture its Born Electric Vehicles (BEVs) range in the facility.

By Shivani | December 15, 2022 02:30 PM Read more
Cyber attack on AIIMS likely originated from China and Hong Kong

Official sources investigating the attack revealed this, adding that they are seeking further details from these two regions through Interpol authorities.

By Sajhyadri | December 15, 2022 02:05 PM Read more
Govt. data revealed India’s WPI inflation fell to 5.85% in November

The Commerce Ministry’s provisional data showed that India’s WPI fell to this rate, compared to 8.39% in October, marking a new low in 21 months.

By Aadeesh | December 15, 2022 02:04 PM Read more
Kotak Investment Advisors raises ₹6,000 Crores for infrastructure fund

The fund closed on 13th December 2022, out of which ₹5,328 Crores was from CPP Investments and AIIB. This sum will be used for infra projects.

By Sajhyadri | December 15, 2022 01:40 PM Read more
WeWork India to grow 70% by end of 2022

Along with achieving a 70% growth in operations, the company also forecasts that it will record net revenue of ₹1,300 Crores by the end of 2022.

By Shivani | December 15, 2022 01:23 PM Read more
Zetta Farms nabs McCain Foods’ orders of potato cultivation

Zetta Farms, along with Growpital, have acquired the contract from McCain Foods India to cultivate potatoes in the village of Taratara Math, situated in Barmer, Rajasthan.

By Aadeesh | December 15, 2022 01:17 PM Read more
Women-run MSMEs got 45% more credit support in FY22

When compared to the pre-pandemic numbers of FY20, credit allocation to women-run establishments in the MSME sector experienced a hike of 45% in FY22.

By Shivani | December 15, 2022 01:01 PM Read more
McDonald's India to recruit about 5,000 employees

The company plans on doing this at a time when many employees are being cut off from their jobs. McDonald's India aims to double its workforce in the next three years.

By Aadeesh | December 15, 2022 12:46 PM Read more
Improvement in hiring momentum witnessed in November

The hiring momentum in November 2022 stood at a decline of 1% YoY, which is an improvement compared to October’s statistic of 6%.

By Shivani | December 15, 2022 12:45 PM Read more
Over ₹2,000 Crores disbursed as loans since 2020, says Rupifi

The lending startup supplying to SMEs showed a 407.7% YoY growth due to increased loans that were taken from various sectors during the pre-festive season.

By Sajhyadri | December 15, 2022 12:40 PM Read more
Reliance Capital creditors hike base bid price to ₹6,500 Crores

The Committee of Creditors raised the value by almost 25% to receive higher offers and postponed the bidding dates to 22nd-23rd December 2022.

By Sajhyadri | December 15, 2022 12:05 PM Read more
NITI Aayog revamps Women Entrepreneurship Portal

NITI Aayog made the announcement regarding the launch on Tuesday, 13th December 2022, and aims to onboard around 2.5 lakh women on the WEP 3.0’s web portal.

By Aadeesh | December 15, 2022 11:38 AM Read more
Shiprocket to support MSMEs by partnering with FIEO

The shipping and logistics service provider hopes to aid MSMEs in establishing a global presence and displaying their products on the Indian Business Portal (IBP).

By Shivani | December 15, 2022 11:35 AM Read more
NSE warns investors not to go for assured return scheme from an individual

The individual, named Jay Prakash, has been known to offer such schemes and ask to handle investors’ accounts for them by obtaining their login credentials, like user ID and password.

By Aadeesh | December 15, 2022 11:03 AM Read more
Sula Vineyards IPO achieves 100% subscription on final bidding day

The fully OFS IPO of ₹960.35 Crores was subscribed 2.33 times on 14th December 2022, receiving bids for 4.38 crore equities against an IPO size of 1.88 crore shares.

By Sajhyadri | December 15, 2022 10:55 AM Read more
Gross direct premium for non-life insurance organisations surged by over 22%

A report published by CareEdge Ratings stated that the surge was mostly driven by rising premiums in the segments of motor and health insurance.

By Shivani | December 15, 2022 10:42 AM Read more
Yes Bank shares tank 5%; Morgan Stanley rates ‘underweight’

Yes Bank saw profit bookings on Wednesday, 14th December 2022, after a strengthened rally in the previous few session owing to the appointment of representative directors from Advent International and Carlyle.

By Aadeesh | December 15, 2022 10:34 AM Read more
Bidding deadline for IDBI Bank stake extended to January 7

The Department of Investment and Public Asset Management has postponed the deadline to submit EoIs for the 60.72% stake, owned by LIC and the Centre, in IDBI Bank.

By Sajhyadri | December 15, 2022 10:15 AM Read more
Bank of Maharashtra’s MCLR rates hiked by 20-30 bps

The revised rates were made effective from Wednesday, 14th December 2022. Applicable across multiple tenors, with MCLR ranging between 7.50% and 8.20%.

By Shivani | December 15, 2022 10:05 AM Read more
HDFC Bank increases stake in Mintoak to 7.75%

The bank added 2.55% to its pre-existing stake of 5.2% in the company, as per a regulatory filing released by them. They now have a 7.75% stake in the company.

By Aadeesh | December 15, 2022 10:04 AM Read more
Parle pursues rural expansion to boost revenues

Parle Products has been doing so by ensuring that more of its products are accessible across rural towns, and by strengthening its distributor network.

By Shivani | December 14, 2022 05:08 PM Read more
General Insurance Corp shares rise by 7.87% in 3rd straight gain

On 14th December 2022, GIC RE’s stock surged to a 52-week high of ₹159.50, after a total 11.67% jump in the last three sessions from a record low of ₹107.60.

By Sajhyadri | December 14, 2022 04:35 PM Read more
Landmark Cars’ IPO sees 35% bookings on day 2

Out of the overall size of 80.41 lakh shares, only 26.23 lakh of them have been booked. Retail investors have taken up 28% of their allotment, while high net-worth individuals had 73% subscriptions.

By Aadeesh | December 14, 2022 04:01 PM Read more
Paytm shares drop by 1.82% after board approves share buyback

The board of One97 Communications, the platform’s parent firm, approved the process to buy back shares at a price up to ₹810 apiece, totalling ₹850 Crores.

By Sajhyadri | December 14, 2022 03:35 PM Read more
Bernard Arnault replaces Elon Musk as world’s richest man

Bernard Arnault, the CEO of LVMH, has a net worth of $188.2 Billion, overtaking Musk’s current value of $176.8 Billion by $11.8 Billion.

By Aadeesh | December 14, 2022 03:01 PM Read more
RBI lifts restrictions on NDF trades of Rupee by local banks

Imposed to better manage the Rupee’s volatility, the curbs were recently lifted as offshore and onshore differences reduced after a better US economic outlook.

By Sajhyadri | December 14, 2022 02:55 PM Read more
GMR Hyderabad International Airport utilised NCDs to raise ₹1,150 Crores

The institution stated that these proceeds will be used to repay some External Commercial Borrowing (ECB) Bonds of 2024 and 2026 partially and clear other dues.

By Shivani | December 14, 2022 02:45 PM Read more
More than 16 lakh cybercrimes registered since 2020

The frauds were worth over ₹180 Crores. Union Minister of State for Home advised people to use the 'National Cyber Crime Reporting Portal’ to report such instances.

By Shivani | December 14, 2022 02:10 PM Read more
Finance Minister: Bad loans worth ₹10 Lakh Crores written off by banks in last 5 years

Nirmala Sitharaman stated that bad loans worth about ₹10,09,511 Crores were written off by banks and that such NPAs were no longer part of their balance sheets.

By Aadeesh | December 14, 2022 01:53 PM Read more
Rupee rises to ₹82.6325 against the Dollar after US inflation data

In addition, signals of softening US inflation for the second straight month have forecasted a 50-bps rate US Federal Reserve hike.

By Sajhyadri | December 14, 2022 01:45 PM Read more
Cisco to terminate employment of over 4,000 employees

Cisco Systems Inc. assured these employees that it will provide them with comprehensive support during these tough times and hand out good severance packages.

By Shivani | December 14, 2022 01:32 PM Read more
Gold prices hits new 8 month high on December 14

This was achieved despite the US Dollar edging higher and a fall noted in oil prices during the day’s early trade session. They have been recorded as investors anticipate the US Federal Reserve’s decision on rate hikes.

By Aadeesh | December 14, 2022 01:16 PM Read more
Market Highlights: Nifty Bank reaches new record peak at 43,983.80

Data also showed that the BSE Sensex gained by 0.65%, or 402.73 points, to settle at 62,533.30, while the NSE Nifty 50 gained 0.60%, or 110.85, points to end at 18,608.

By Sajhyadri | December 14, 2022 12:50 PM Read more
Around 80 businesses may pursue an IPO in next 5 years

A Redseer report made this forecast, stating that there’s scope for growth in the Indian market, especially for technology-based companies.

By Shivani | December 14, 2022 12:27 PM Read more
Global recovery takes centre stage on day 1 of India’s G20 Summit

Discussions regarding the potential risks to the global economic outlook and the challenges posed by European disturbances were deliberated on the first day of the India-led G20 Finance Track.

By Aadeesh | December 14, 2022 12:08 PM Read more
Indian bond yields fall after inflation eased to 5.88% in Nov

As the country’s retail inflation came within RBI’s target range for the first time this year, the benchmark 10-year yield dropped to 7.258% on December 13.

By Sajhyadri | December 14, 2022 12:05 PM Read more
Most IPO listings, least deal value witnessed in November

9 companies went ahead with their Initial Public Offers (IPOs) in November. However, the total number of deals dropped by 40% to 119, as compared to last year’s 198.

By Shivani | December 14, 2022 11:43 AM Read more
Google CEO Sundar Pichai provides update regarding potential layoffs

At a staff meeting, he stated that it is difficult to determine the future regarding a possible wave of layoffs and can offer no positive commitments for it at present.

By Aadeesh | December 14, 2022 11:35 AM Read more
Bandhan Bank stocks soared by around 2% on BSE

The stock hiked shortly after the bank announced that it has secured a funding of ₹916.6 Crores from the Centre, under the Credit Guarantee Fund for Micro Units.

By Shivani | December 14, 2022 11:21 AM Read more
Byju’s creditors seek faster part-payment of $1.2 Billion loan

Lenders of the edtech start-up firm want to renegotiate the repayment time and other debt terms like increasing the loan’s interest rate, hiring a CFO, etc.

By Sajhyadri | December 14, 2022 11:15 AM Read more
Servotech Power Systems announces stock split

The company’s board of directors gave approval for its shares, having a face value of ₹10, to be subdivided into multiple ones having a ₹2 face value.

By Shivani | December 14, 2022 11:06 AM Read more
G20 Summit: Discussions on crypto assets held by central bank deputies

India’s G20 Presidency commenced on Tuesday, 13th December 2022 in Bengaluru, and is hosted by RBI and the Ministry of Finance.

By Aadeesh | December 14, 2022 11:03 AM Read more
FII bought ₹619.92 Crores worth in equities on December 13

NSE data added that DII purchased shares valued at ₹36.75 Crores on Tuesday, as both NSE and BSE ended in green with gains of over 0.60% on the same day.

By Sajhyadri | December 14, 2022 10:40 AM Read more
Abans Holding IPO receives 28% bookings on day 2

The company also received a poor response on its first day with only 11% share biddings. The shares are being sold at a price range between ₹256-270 per piece, up to 15th December 2022.

By Aadeesh | December 14, 2022 10:24 AM Read more
BSE boosts registered investor account tally by 1 crore

The stock exchange managed to achieve this within a span of 148 days, between July 18 and December 13. However, the activity status of these accounts was not confirmed.

By Shivani | December 14, 2022 09:59 AM Read more
Salesforce becomes latest IT firm to announce employee layoffs

The company said that it will lay off up to 1000 employees in this latest firing round to lower expenses and for cost-cutting measures. Another reason cited was a change in leadership.

By Sajhyadri | December 13, 2022 02:35 PM Read more
Almost 8,000 MSMEs closed in FY2023

Government data showed that 7,995 MSME establishments ceased their operations in FY2023. Moreover, other players in the sector logged diminished yearly turnovers.

By Shivani | December 13, 2022 12:54 PM Read more
KBL shareholders vote against external forensic audit of firm

Kirloskar Brothers stated, in a stock exchange filing, on 12th December 2022, that 63.99% of shareholders opposed the audit proposal, while 36.01% were in favour of it.

By Sajhyadri | December 13, 2022 12:45 PM Read more
Dalmia Bharat to acquire power, cement plants of Jaiprakash Associates

This acquisition deal is worth ₹5,666 Crores. The cement and power assets have a production capacity of 9.4 million tonnes and 280 megawatts, respectively.

By Shivani | December 13, 2022 12:16 PM Read more
Centre planning to divest 100% stake of RINL by January 2023

The government invited EOIs for RINL and its subsidiary and plans to divest 100% stake in one go, with companies like Adani Group and Tata Steel bidding as potential buyers.

By Sajhyadri | December 13, 2022 12:10 PM Read more
PepsiCo India Holding’s FY22 profit falls over 76% to ₹41.63 Crores

Conversely, their operational revenue had gone up by 21.61% to ₹6,385.80 Crores. A PepsiCo representative claimed that they witnessed strong growth in their volume and revenue in FY22.

By Aadeesh | December 13, 2022 12:05 PM Read more
SEBI might enforce standard valuation regulations for AIFs

SEBI might follow internationally accepted guidelines for the revised framework applicable to alternative investment funds. It hopes to establish fair valuations for the same.

By Shivani | December 13, 2022 11:46 AM Read more
Demand for gold loan NBFCs surges

This has occurred due to a rise in the yellow metal’s prices in the last month. North India has generated the most demand for the commodity, according to industry executives.

By Aadeesh | December 13, 2022 11:33 AM Read more
BSE IT Index stocks slumped nearly 23% on YTD basis

With many big IT firms performing poorly, this marks the IT index’s highest fall since 2008 and the first time the index reported negative returns in 5 years.

By Sajhyadri | December 13, 2022 11:30 AM Read more
Goldman Sachs set to cut more jobs as consumer unit scales back

About a few more hundred employees or more are to be laid off as part of its restructuring operation in its consumer business and to cope with further economic volatilities in the next year.

By Aadeesh | December 13, 2022 11:05 AM Read more
IiAS asks One97 Communication to explain cash needs before share buyback

Paytm’s parent firm must address concerns of liquidity assessment, future growth strategy, and timing of the buyback before proceeding with the same, IiAS noted.

By Sajhyadri | December 13, 2022 11:00 AM Read more
DroneAcharya Aerial Innovations opened to anchor investors for IPO bids

The drone solutions company is scheduled for IPO debut on Tuesday, 13th December 2022. However, bidding was opened for anchor investors on Monday.

By Shivani | December 13, 2022 10:55 AM Read more
Delta Corp, GNFC and others banned from F&O trading on December 13

Firms such as Bharat Heavy Electricals Limited (BHEL), Delta Corp Limited and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) were included as they surpassed the MWPL by over 95%.

By Aadeesh | December 13, 2022 10:35 AM Read more
RBI makes sales worth $33.42 Billion between April-September 2022

According to the Finance Minister, Nirmala Sitharaman, on Monday, 12th December 2022, this was done in order to protect the Indian currency against any further volatility.

By Aadeesh | December 13, 2022 10:04 AM Read more
Uniparts India makes a weak debut on BSE

The company made its BSE debut and noted an intraday low of ₹539 per unit. The stock is expected to hit a medium-and-long-term target of ₹660 and ₹750, respectively.

By Shivani | December 13, 2022 10:03 AM Read more
₹8.77 Lakh Crores collected in direct tax from April to November

According to the Finance Ministry, this shows an approximate hike of 24% from the last fiscal and accounts for roughly 61.79% of the Budget Estimates for the entire FY2022-23.

By Sajhyadri | December 13, 2022 09:55 AM Read more
Gold prices drop by ₹109, Silver hiked by ₹934

The price of gold fell by ₹109 to reach ₹54,461 per 10 grams on Monday, 12th December 2022. This is said to be a result of weak global trends.

By Friyana | December 12, 2022 06:04 PM Read more
ICAI advises to raise deduction limit under Section 80C of IT Act

In its Pre-Budget Memorandum for 2023, the institute asked to raise this limit to ₹2.5 Lakhs. It also advised the ministry to hike the PPF contribution limit to ₹3 Lakhs.

By Sajhyadri | December 12, 2022 05:40 PM Read more
FAAD secures approval from SEBI to roll out a ₹300 Crore AIF

The early-stage investor network hopes to financially support startups in the sectors of agritech, healthtech, cleantech, and deep tech.

By Shivani | December 12, 2022 05:26 PM Read more
Srei CoC might let resolution applicants review bids by December 15

Three final bidders for the deal include Authum Investment & Infrastructure Ltd., Varde Partners and Arena consortium, and National Asset Reconstruction Company Ltd.

By Shivani | December 12, 2022 04:56 PM Read more
Equity investments by early 2023 crucial for Vi, say govt. officials

Vodafone Idea will require equity fund infusion from supporters like Vodafone Plc and Aditya Birla Group, to pay interest on adjusted gross revenue debts.

By Shivani | December 12, 2022 04:54 PM Read more
IOB raises interest rates on FDs by up to 20 bps from December 10

Applicable on deposits going up to ₹2 Crores, the public sector bank now provides interest rates from 3.75% to 6.50% on tenures between 7 days to over 3 years.

By Sajhyadri | December 12, 2022 04:50 PM Read more
Report claims gig workforce to create 9-11 million jobs by 2025 in India

Indeed, an employment website, reported that 9 to 11 million jobs for gig workers will be available by 2025, due to the emergence of app-based models for deliveries and services.

By Aadeesh | December 12, 2022 04:47 PM Read more
Central Government to not make RBI’s letter on inflation available to public

The central bank’s Monetary Policy Committee convened last month to draft the letter, which addressed the matter of not keeping inflation levels less than 6% for three consecutive quarters.

By Aadeesh | December 12, 2022 04:08 PM Read more
PNB customers urged to update KYC details by December 12

The bank’s directive comes after RBI made it mandatory for banks to update customers KYC. PNB sent SMS and physical notices to such customers for the same.

By Sajhyadri | December 12, 2022 03:50 PM Read more
Intel commences layoffs, offers unpaid leaves to many employees

With this, Intel Corporation is one of the many Silicon Valley giants which have recently let go of their employees due to difficult macroeconomic conditions worldwide.

By Aadeesh | December 12, 2022 03:40 PM Read more
Mahindra Holidays looks to invest ₹1,500 Crores on expansion in the next 3 years

The CEO and MD of the company stated that their expansion plan includes new acquisitions and room additions. They may also launch a new brand to manage their resorts.

By Aadeesh | December 12, 2022 03:08 PM Read more
PNB seeks to raise ₹1,000 Crores through AT1 bonds

Punjab National Bank plans to raise capital through additional tier-1 bonds. This will be maintained as a corpus to support and further boost credit growth.

By Shivani | December 12, 2022 03:07 PM Read more
Centre asks banks, financial entities to support Rupee trade with other nations

The Centre hopes to boost bilateral trade operations in the national currency with countries such as Mauritius, Russia, and Sri Lanka.

By Shivani | December 12, 2022 02:31 PM Read more
IDBI Bank's privatisation bid deadline might be extended to January 2023

The deadline for expressions of interest may be extended to early January 2023, to aid investors who asked the transaction adviser, KPMG India, for the same.

By Shivani | December 12, 2022 01:56 PM Read more
Paytm’s loan disbursals grew by 150% YoY between October-November

The company stated, in an exchange filing, that their rate of loan distribution has seen massive growth, as they had an annual run rate of ₹39,000 Crores in November.

By Aadeesh | December 12, 2022 01:52 PM Read more
Sula Vineyards IPO to be available as OFS till December 14

The winery brand has set the IPO’s price range at ₹340-357 apiece, with holders putting up around 2.69 crore shares for sale, to raise around ₹960 Crores.

By Sajhyadri | December 12, 2022 01:45 PM Read more
NTPC looks to complete renewable energy asset monetisation before January 2023

The state-owned company aims to move its portfolio of renewable energy from NTPC Renewable Energy Ltd. (NTPCREL) to a new company called NTPC Green Energy Ltd. (NGEL).

By Aadeesh | December 12, 2022 01:07 PM Read more
RBI shortlists consultancy firms to use AI and ML for supervision

The bank plans to hire global firms to use these methods. In doing so, it will be able to analyse its huge database, enhance regulatory supervision, and upscale its existing AI and ML usage.

By Sajhyadri | December 12, 2022 01:05 PM Read more
Tata Group to open Apple Authorised Reseller shops in India

The Apple-Tata partnership will see the Indian group open 100 such shops of 500-600 sq. ft. under the retail chain, Cromā, which will sell iPhones, iPads, etc.

By Sajhyadri | December 12, 2022 12:20 PM Read more
G20 Finance Track to commence meetings from December 13

They aim to tackle issues like the global economic outlook, financial and economic concerns, sustainable finance, and infrastructure development, among others. The event will be held in Bengaluru.

By Aadeesh | December 12, 2022 12:13 PM Read more
Air India might purchase 500 jetliners soon

The historic purchase will reportedly cost around $100 Billion and constitute 100 or more wide-body jets and 400 narrow-body planes.

By Shivani | December 12, 2022 12:13 PM Read more
Paytm unable to use IPO proceeds for share buyback

As rules prevent a firm from using IPO proceeds for this purpose, Paytm’s board members will meet on 13th December 2022 to discuss other options for share buyback.

By Sajhyadri | December 12, 2022 11:40 AM Read more
India is witnessing major reset in post-pandemic period, says Nirmala Sitharaman

She spoke about this at the 2022 convocation of Symbiosis International (Deemed University), Pune. Students were also asked to help with the ‘One Earth, One Family, One Future’ initiative.

By Aadeesh | December 12, 2022 11:31 AM Read more
Indian equities record ₹4,500 Crores of investment from FPIs

By the week closing on Friday, 9th December 2022, foreign portfolio investors had collectively invested approximately ₹4,500 Crores in Indian equities.

By Shivani | December 12, 2022 11:27 AM Read more
SEBI: SCORES platform cleared 3,010 complaints in November

SEBI’s SCORES is a grievance redressal platform that was launched in June 2011. It received 2,886 new complaints and had 2,972 pending ones in the same month.

By Aadeesh | December 12, 2022 10:59 AM Read more
Hackers distribute over 4 lakh malwares daily, says Kaspersky

The report added that malware spread had risen by 5% in 2022 from 2021, with an increase in Malware-as-a-Service that makes devices prone to cyber-attacks.

By Sajhyadri | December 12, 2022 10:35 AM Read more
Centre might turn to NSSF for more capital

This capital will be allotted to some underway assorted subsidies and programmes. The venture will cost an additional ₹3.26 Trillion.

By Shivani | December 12, 2022 10:35 AM Read more
RBI Deputy Governor asks banks to upscale tech investment

Speaking at a NIBSCOM event, M. K. Jain said that financial institutions need to promote innovation in tech to boost the digital processes of banking services.

By Sajhyadri | December 09, 2022 05:40 PM Read more
HCL Tech’s shares fall by more than 7% on December 9

This was their sharpest single-day drop during Friday’s intraday trade since January 2022. However, the Chief Executive of HCL believes that they may be able to do better in the next quarter.

By Aadeesh | December 09, 2022 05:34 PM Read more
Weekly Markets: Bank Nifty hits high of 43,598.25; Indices end in red

Amidst a week of volatility, Bank Nifty hit a record high of 43,598.25 on 8th December 2022. But Friday’s session ended in red with Nifty below 18,500 and Sensex shedding 389.01 points.

By Chanel | December 09, 2022 04:39 PM Read more
OYO reports 83% YoY growth in business travel

According to the company’s Business Travel Trends Report 2022, this was due to business travel resuming after the post-pandemic period. Delhi was the most popular city for bookings.

By Aadeesh | December 09, 2022 04:30 PM Read more
78% of Delhi NCR’s frontline workers in e-comm, shows survey

The BetterPlace survey added that logistics and mobility divisions produced 15% of jobs, as SME business sentiment improved due to digitalisation during the pandemic.

By Sajhyadri | December 09, 2022 04:10 PM Read more
India’s inflation fell to 6.40% in November, shows Reuters poll

The poll, conducted among 45 economists, states that this inflation rate of November is the lowest of 9 months, taking it to the level it was in February 2022.

By Sajhyadri | December 09, 2022 02:55 PM Read more
Snapdeal halts its IPO of $152 Million

The company filed the request to withdraw its IPO earlier this week but may reconsider it later, based on its requirements and market conditions in the future.

By Aadeesh | December 09, 2022 01:10 PM Read more
StocX.in launches SPMI, first private market index in India

The unlisted securities portal said that the new index has overcome problems of tracking price movements and variations via basic statistics and data analysis.

By Sajhyadri | December 09, 2022 12:55 PM Read more
India Inc’s margins to hit decadal low from soaring global commodity prices

As per Motilal Oswal Financial Services Limited, the margins are likely to touch a 10-year low of 29.4%, while the EBITDA will drop to an 8-year low of 14.7%.

By Friyana | December 09, 2022 12:43 PM Read more
Banks do not have enough finances for UPI, says Axis Bank CEO

Speaking at a financial event, Amitabh Chaudhry said that banks do not have enough capital to build a UPI business since they’re prone to losses and cash flow issues.

By Sajhyadri | December 09, 2022 12:15 PM Read more
Corporate giants to approach the ‘Viksit Bharat’ ideal with optimism and caution

During a panel discussion at the Confederation of Indian Industry Global Economic Policy Summit, problems in achieving the Viksit Bharat goal were brought forward.

By Friyana | December 09, 2022 11:42 AM Read more
More Telecom-related financial fraud reports surface as consumers move to 5G

Telcos are reporting many financial fraud cases on their networks as more people are moving to 5G services. These companies now require better security protocols to curb its spread.

By Aadeesh | December 09, 2022 11:21 AM Read more
India’s M&E Industry revenue to hit ₹1.6 Lakh Crores in 2023-24

As per CRISIL’s report, this profit will come along with a strong revival in ad revenue, while digital media could become the 2nd largest advertising medium.

By Sajhyadri | December 09, 2022 11:20 AM Read more
Walmart’s start-up PhonePe may attempt to raise $1 Billion

A few unnamed sources have revealed that PhonePe plans to raise these funds from its existing investors, like General Atlantic and Microsoft Corp.

By Chanel | December 09, 2022 10:53 AM Read more
FMCG segment inflation calming down, says Sanjiv Puri

Sanjiv Puri, ITC’s MD and Chairman, stated that the inflation in the FMCG sector is calming down and that the rural segment’s volume growth will improve in the future.

By Aadeesh | December 09, 2022 10:50 AM Read more
Over 4 million jobs added in rural India in November

This pushed the employment rate in rural regions to 37.5%. On the other hand, urban India only recorded a moderate rise from 34.2% to 34.4%.

By Chanel | December 09, 2022 10:50 AM Read more
ADB approves loan of $780 Million for Chennai Metro Rail development

An additional $1 Million technical assistance grant will be provided by ADB for the integration of the newly constructed multimodal facilities.

By Friyana | December 09, 2022 10:36 AM Read more
Federal Bank raises interest rates for savings accounts from Dec 8

The bank’s interest revision follows RBI’s repo rates hike of 35 bps a day ago. These rates apply to balances under ₹5 Lakhs and going up to over ₹50 Crores.

By Sajhyadri | December 09, 2022 10:30 AM Read more
Macrotech Developers to raise ₹3,500 Crores by selling equity shares

On 7th December 2022, in a regulatory filing, the entity launched a QIP of equity shares to raise ₹3,500 Crores and achieve the minimum public shareholding levels.

By Friyana | December 08, 2022 04:32 PM Read more
Stolen data of 6 lakh Indians sold on bot markets, reveals study

NordVPN reported that about 6 lakh Indians have had their data stolen via malware and sold on bot markets, with each victim’s identity worth an average of ₹490.

By Aadeesh | December 08, 2022 02:47 PM Read more
Govt. infuses over ₹5,000 Crores in SWAMIH Investment Fund I

With this infusion, the SBICAP Ventures-backed fund’s capital reached ₹15,530 Crores, becoming one of the largest corpuses raised by a national fund recently.

By Sajhyadri | December 08, 2022 02:40 PM Read more
Gold rates slipped on MCX; Silver prices fell by 0.27%

Due to poor global cues, both precious metals were found trading in the negative zone. Meanwhile, gold prices eased after the US Dollar’s marginal rebound.

By Chanel | December 08, 2022 01:59 PM Read more
SoftBank CEO Masayoshi Son raises stake in company to 34%

The CEO of SoftBank Group Corp., Masayoshi Son, now has a 34% stake in the company, after a buyback spree in the past two months, bringing its pending stocks down by 90 million.

By Aadeesh | December 08, 2022 12:30 PM Read more
RBI allows fund-blocking feature for bank accounts using UPI

The central bank said that the blocked funds will provide customers with advantages like fast stock market transactions, e-commerce payments, hotel bookings, etc.

By Sajhyadri | December 08, 2022 12:30 PM Read more
HUL in talks of acquiring nutrition company OZiva

Oziva is hoping for a business valuation of ₹400-500 Crores, which might be a hurdle in the acquisition process.

By Friyana | December 08, 2022 11:58 AM Read more
Inox Wind promoters infused ₹623 Crores to repay debts

The infused funds were used to repay advances received from Gujarat Fluorochemicals Ltd., to set up the company’s wind power capacity.

By Chanel | December 08, 2022 11:01 AM Read more
Vedantu lays off 385 employees in fourth round of cuts this year

Vedantu let go of 385 more employees as part of its fourth round of job cuts, sources from the company informed on Wednesday, 7th December 2022.

By Aadeesh | December 08, 2022 10:59 AM Read more
More than 3,000 crypto accounts scrutinised for illegal activities

The Financial Intelligence Unit of India has tracked down around 3,300 crypto accounts engaged in illegal activities since 2019 and has shared the info with law enforcement and crypto exchanges.

By Aadeesh | December 08, 2022 10:55 AM Read more
35% dip in start-up funding, retail and fintech worst hit

: Tracxn in its India Tech 2022 annual report stated that startups recorded a drop in total funding, falling from the $37.2 Billion noted in 2021 to $24.7 Billion in 2022.

By Friyana | December 08, 2022 10:52 AM Read more
Swiggy might lay off nearly 250 employees in December

Five anonymous sources revealed that Swiggy plans to lay off 3-5% of its workforce amidst the restructuring of its teams. The job cuts will likely be performance-based.

By Chanel | December 08, 2022 10:52 AM Read more
Morgan Stanley laid off 2% of its global workforce

On 6th December 2022, the firm announced that over 1,600 employees were sacked across all its divisions in Asia, Europe and USA.

By Friyana | December 07, 2022 06:06 PM Read more
New Paytm ABHA Health Locker to store users' health documents

With this new offering, Paytm will provide account creators with a unique health number to access and share official medical records with healthcare centres.

By Sajhyadri | December 07, 2022 05:30 PM Read more
Government bond yields rise over 7.3% after RBI’s rate hike

Benchmark 10-year yields rose from Tuesday’s value of 7.2486% to 7.301% on 7th December 2022. The Rupee also gained to settle at ₹82.61 against the US Dollar.

By Sajhyadri | December 07, 2022 05:05 PM Read more
Sula Vineyards sets December 12 as their IPO launch date

The existing shareholders and promoters of Sula Vineyards will offload about 2.56 crore shares. However, the company won’t receive any of the proceeds.

By Aadeesh | December 07, 2022 04:34 PM Read more
Reliance Capital Limited e-auction to start at ₹5,231 Crores base bid

The amount is the highest valuation offered by the Piramal Enterprises-Cosmea Financial Holdings team, which is still 60% lower than the firm’s liquidation value.

By Friyana | December 07, 2022 04:19 PM Read more
MongoDB shares rise 27% after swinging to unexpected profits

The software firm also reported a 47% rise in revenue and wider losses of $84.8 Million, in the quarter ending in October, from the same period a year ago.

By Sajhyadri | December 07, 2022 03:55 PM Read more
Bandhan Bank reworks bulk FD rates, effective December 6

Bandhan Bank revised its interest rates on bulk fixed deposits, made effective from 6th December 2022. They now provide an interest between 3.25% and 5%, for tenures ranging from 7 days to 10 years.

By Aadeesh | December 07, 2022 03:33 PM Read more
RBI extends BBPS beyond recurring payments to multiple services

RBI Governor Shaktikanta Das said in the MPC meeting that the platform will now allow recurring and non-recurring payments from both individuals and businesses.

By Sajhyadri | December 07, 2022 03:10 PM Read more
ICICI Securities: Indian equities have entered ‘high optimism zone’

ICICI Securities stated that Indian equities have entered the ‘high optimism zone’ after noting a slump in the fear gauge and a rise in P/E ratios, reaching 20x.

By Friyana | December 07, 2022 02:55 PM Read more
RENÉE Cosmetics raises $25 Million during Series B funding

The capital was raised as part of their Series B funding round, which was led by Evolvence India and other firms. This will surge the company’s total valuation to $100 Million.

By Aadeesh | December 07, 2022 02:36 PM Read more
Suryoday Small Finance Bank hikes FD rates to more than 9%

Effective from 6th December 2022, FDs up to ₹2 Crores now offer rates from 4% to 9% for regular people and 4.50% to 9.59% for senior citizens on all tenures.

By Sajhyadri | December 07, 2022 02:30 PM Read more
Blume Ventures ends its biggest India-based fund at $250 Million

Blume Ventures recently ended its fourth fund, which was based in India, at $250 Million. This was their biggest fund so far, and 40% of the contributions were from LPs and family offices.

By Aadeesh | December 07, 2022 01:58 PM Read more
RBI raises repo rates by 35 bps, 5th hike since May 2022

After the central bank’s 0.35% hike on 7th December, the repo rates rose from 5.9% to 6.25%, raising the EMIs of fixed and floating plans for all borrowers.

By Sajhyadri | December 07, 2022 01:15 PM Read more
HDFC Bank: MCLR rates hiked by 10 bps

MCLR rates of the HDFC Bank have now gone up to 8.20%. This is the 5th consecutive lending rate hike by the bank since April 2022.

By Friyana | December 07, 2022 01:14 PM Read more
HDFC AMC’s shares rise by 3% as abrdn plans to offload 10.2% stake

HDFC Asset Management Company’s shares went up by 3% to ₹2,289.90 on the BSE during Wednesday’s trade, after abrdn Investment Management announced plans to sell 10.2% stake in the company.

By Aadeesh | December 07, 2022 01:13 PM Read more
Budget 2023: Centre unlikely to infuse capital into state-run banks

Banking and official sources have revealed that it’s unlikely that the Centre will allocate any capital for infusion into PSBs for FY24, due to their improved profitability and lower bad loan ratios.

By Chanel | December 07, 2022 12:49 PM Read more
L&T hits record high on BSE with market cap of ₹3 Lakh Crores

The global firm’s share prices rallied 2% to hit ₹2,139.70 on 7th December 2022. It held the 20th rank in the total market-cap list on BSE, crossing ₹3.01 Lakh Crores.

By Sajhyadri | December 07, 2022 12:30 PM Read more
Bikaji Foods’ shares gain due to 43.5% rise in September quarter profits

Bikaji Foods International Ltd.’s share value rose by 4% on Wednesday, 7th December 2022, due to its good September-ending quarter profits.

By Aadeesh | December 07, 2022 12:07 PM Read more
Gold investment demand slips by 15% in 10 days

Jewellers have revealed that retail demand for investments in gold has reduced by 15% amidst a price hike in the metal. It’s believed that this volatility will continue till January 2023.

By Chanel | December 07, 2022 11:58 AM Read more
New IRDAI norms may boost business growth and insurance spread

Milliman, a consulting agency and actuarial from Washington, believes that IRDAI’s new regulations can help businesses grow faster and increase the reach of insurance in India.

By Aadeesh | December 07, 2022 11:26 AM Read more
Companies in talks to acquire stake in KIMS Health Management

Discussions are going on between KIMS Health’s current investor, True North, and potential buyers looking to acquire around 65-70% stake in the hospital chain.

By Sajhyadri | December 07, 2022 11:25 AM Read more
Investors slowed down equity trading in 2022, shows data

Bloomberg data has revealed that the average total trade volume from the BSE and NSE was lesser than that of 2021 by 16.46%, meaning a marked slowdown in equity trading this year.

By Aadeesh | December 07, 2022 10:58 AM Read more
Dabur to enter ₹5,400 Crores feminine care market in India

Earlier this week, Dabur announced its plans to debut in the feminine care segment in India. Its products will directly compete with those of J&J’s brand Stayfree and P&G’s Whisper.

By Chanel | December 07, 2022 10:49 AM Read more
Falling steel prices in December threaten manufacturers’ recovery

Steel prices fell by around ₹3,000 per tonne in the first week of December, after record lows in November, due to cheap imports, less export and average demand.

By Sajhyadri | December 07, 2022 10:30 AM Read more
IMF calls for measures to tackle global slowdown

The International Monetary Fund requested measures, like orderly deleveraging and deeper structural reforms, measures to tackle the upcoming global slowdown.

By Aadeesh | December 07, 2022 10:28 AM Read more
Centre assures IDBI Bank’s potential buyer

Ahead of the 16th December 2022 deadline to submit expressions of interest for a 60.72% stake in IDBI Bank, the government addressed the concerns of the lender’s potential investors.

By Chanel | December 07, 2022 10:19 AM Read more
Over 87 lakh new formal jobs were created in the 1st half of FY2023

According to EPFO data, this amounted to 35% more jobs available in these six months, from the same period in FY22, when 64.72 lakh formal jobs were created.

By Sajhyadri | December 06, 2022 05:30 PM Read more
Razorpay to start allowing credit card payments via UPI

The launch, in line with RBI and NPCI’s digitisation steps, will allow users to pay using their credit cards on UPI. This, in turn, will also grow India’s credit card industry.

By Sajhyadri | December 06, 2022 04:50 PM Read more
Yes Bank revises FD rates, offers up to 7% interest on select tenures

Yes Bank revised its interest rates for FDs below ₹2 Crores. These changes came into effect on 5th December 2022. They are set to provide a maximum interest rate of 7% on select tenures.

By Aadeesh | December 06, 2022 04:18 PM Read more
Finance Ministry claims Kerala is facing ‘unprecedented financial crisis’

The Finance Minister of Kerala, K. N. Balagopal, said that the state is undergoing a financial crisis due to factors such as the COVID-19 pandemic, Central Government’s warped policies and more.

By Aadeesh | December 06, 2022 03:46 PM Read more
Ludhiana residents asked to pay property taxes before end of year

As per the city’s municipal corporation, citizens will need to pay a 10% penalty on property tax paid from January to March and a 20% fine from April, 2023.

By Sajhyadri | December 06, 2022 03:15 PM Read more
World’s first gold dispensing ATM launched in India

Through this real-time yellow metal dispensing ATM, interested consumers can buy gold coins in quantities ranging from 0.5 grams and 100 grams.

By Sajhyadri | December 06, 2022 02:30 PM Read more
Asian Development Bank and GOI partner to develop $3 Million PRF facility

The Indian Government and the Asian Development Bank have partnered to develop a PRF facility worth $3 Million to help improve Agartala city’s overall municipal infrastructure.

By Aadeesh | December 06, 2022 01:40 PM Read more
SBI touches the ₹5-Lakh Crore mark in personal loan business

As per the State Bank of India, the last ₹1 Lakh Crores were disbursed within the last 12 months. The portfolio does not include mortgages and home loans.

By Friyana | December 06, 2022 01:08 PM Read more
MeitY to soon introduce process for digital home loans facility

The ministry has reportedly started digitising several official documents like mortgage and property papers, to quicken the launch of online home loans.

By Sajhyadri | December 06, 2022 01:00 PM Read more
Axis Bank updates rates for bulk FDs, effective from December 5

As per the bank’s website, these new rates of 4.65%-6.3% will apply to deposits of ₹5 Crores, up to ₹10 Crores, on maturities between 7 days to 10 years.

By Sajhyadri | December 06, 2022 12:20 PM Read more
PepsiCo to join the lay off trend

In order to simplify the organisation and generate efficiency, PepsiCo decided to let go of hundreds of staff members from its units in North America.

By Friyana | December 06, 2022 12:20 PM Read more
MoCI may consider PAN for single window clearances

The Ministry of Industry and Commerce (MoCI) may consider utilising PAN as a unique identifier to enable single window clearances for businesses under the national single window system (NSWS).

By Aadeesh | December 06, 2022 11:58 AM Read more
Edelweiss: Vedanta to continue high dividend payouts

According to the global brokerage agency, the company has been paying consistently high dividends to close Vedanta Resource Limited's debt.

By Chanel | December 06, 2022 11:40 AM Read more
India’s first drone company to launch its IPO on December 13

DroneAcharya Aerial Innovations will offer over 62.90 lakh shares in this public offering with a price band of ₹52 to ₹54 from 13th to 15th December 2022.

By Friyana | December 06, 2022 11:38 AM Read more
HealthifyMe to lay off over 150 employees

The Bangalore-based health tech and fitness firm is the latest of Indian startups to announce layoffs across departments, reducing its net workforce by 15-20%.

By Sajhyadri | December 06, 2022 11:35 AM Read more
Karur Vysya Bank to hike lending rates

The bank increased its MCLR by 25 basis points across tenures, likely raising EMIs of various term loans. This change will come into effect from 7th December 2022.

By Aadeesh | December 06, 2022 11:22 AM Read more
Budget 2023: Banks want FDs under ₹5 Lakhs to be tax-free

As fixed deposits compete with mutual funds and insurance products, banks hope that this move will make small deposits an attractive investment for investors.

By Chanel | December 06, 2022 11:10 AM Read more
RBI expected to slow down interest rate hikes this week

According to economists, the Reserve Bank of India is expected to slow down the pace of interest rate hikes, at their upcoming web broadcast announcement on Wednesday, 7th December 2022.

By Aadeesh | December 06, 2022 10:49 AM Read more
LIC increases stake in HDFC to over 5% after acquisition of new shares

LIC has improved its stake in HDFC Bank to 5.003%, after acquiring 1.2 lakh new shares of the banking company at the open market. The shares were worth a total of ₹57.2 Crores.

By Aadeesh | December 06, 2022 10:47 AM Read more
Aditya Birla Fashion to acquire TCNS Clothing Co.

ABFRL leads the race for the acquisition of TCNS Clothing Co. after overtaking India’s popular fashion brand, Nykaa.

By Friyana | December 06, 2022 10:37 AM Read more
Over 2,300 crore digital transactions made in India in Q3 of FY2023

Worldline India’s report states that digital payments made a net value of ₹38.3 Lakh Crores, denoting a rise of 71% in value and 88% in volume from Q3 of last year.

By Sajhyadri | December 06, 2022 10:35 AM Read more
Jindal Stainless joins ReNew Power to setup 300 MW hybrid power project

The companies tied up on 5th December 2022 and anticipate that the project will produce over 700 million units of green energy annually.

By Chanel | December 06, 2022 10:34 AM Read more
Canara Bank raises daily limit of transactions for debit cards

The bank now allows up to 5 contactless transactions on e-commerce, Point of Sale (POS), and ATM cash withdrawals using debit cards, with immediate effect.

By Sajhyadri | December 05, 2022 06:35 PM Read more
Kalyan Jewellers’ stock surges by 18% in 4 trading sessions

On Monday, 5th December 2022, the share price increased by about 6% and touched an all-time high of ₹116.35 apiece on the BSE.

By Friyana | December 05, 2022 06:19 PM Read more
Amazon expected to lay off 20,000 employees across departments

Stated to be the company’s largest ever layoff round, this will see around 1.3% of its global workforce depart from several posts ranging from Grades 1 to 7.

By Sajhyadri | December 05, 2022 05:55 PM Read more
Mahindra Finance records loan disbursal worth over ₹4,500 Crores in November 2022 

Mahindra & Mahindra Financial Services witnessed a 75% y-o-y increase in loan disbursals, following which the company’s share prices surged by 6.4% in the market.

By Friyana | December 05, 2022 05:47 PM Read more
ONE Muthoot to start new platform for multiple financial offerings

MPG’s fintech start-up arm will start this new service, as an app and website, to offer various insurance, investment, lending, and remittance products.

By Sajhyadri | December 05, 2022 05:25 PM Read more
CIDCO secures credit line of ₹500 Crores for the Navi Mumbai metro project

CIDCO achieved financial closure for its Navi Mumbai metro project with a ₹500 Crores credit line from ICICI bank that will be used to expedite the work of Line no.1.

By Friyana | December 05, 2022 05:08 PM Read more
Pension expenses surpassed that of wages and salary in 2019-20

Out of a total Committed Expenditure of ₹9.78 Lakh Crores, ₹1.83 Lakh Crores was spent on pensions, while ₹1.39 Lakh Crores was used for salary and wages.

By Sajhyadri | December 05, 2022 04:50 PM Read more
Easy Trip Planners’ stock prices rise by 1.24%

Following the signing of the share purchase agreement to acquire a 75% stake in Nutana Aviation Capital IFSC, the company’s share price hiked to ₹65.10 per share.

By Friyana | December 05, 2022 04:03 PM Read more
India Services PMI surged to 56.4 in November, says S&P Global

The index continued to stay over the 50-mark for the 16th consecutive month, with notable gains in new business inflows seen at the fastest in three months.

By Sajhyadri | December 05, 2022 03:50 PM Read more
Kendriya Vidyalaya Sangathan declares 6,990 vacancies

These consist of 14 teaching positions while the rest will be recruited as non-teaching staff members. Candidates may apply for these from 5th to 26th December 2022.

By Friyana | December 05, 2022 03:15 PM Read more
SBI MF to disburse ₹29.91 Crores among eligible FISTIP unitholders

The amount will be paid by closing proportionate units as per the net asset value on 2nd December 2022, and the payments will start from December 7, SBI MF said.

By Sajhyadri | December 05, 2022 03:00 PM Read more
ICICI Lombard and AU Small Finance Bank sign bancassurance agreement

According to ICICI Lombard’s Executive Director, this partnership will help strengthen their distribution capacity and increase growth opportunities via the bank’s diverse network.

By Chanel | December 05, 2022 02:45 PM Read more
SpiceJet: Improvement expected in operations in the December quarter

The Chairman and Managing Director of SpiceJet, Ajay Singh, stated that the airline also expects to witness restructuring benefits in the ongoing 3rd quarter of FY23.

By Friyana | December 05, 2022 02:30 PM Read more
Indian startup firms invited to expand business in Abu Dhabi

The capital city of UAE is looking for investments via Indian startups to grow its business ventures beyond hydrocarbons and has identified several key sectors for the same.

By Sajhyadri | December 05, 2022 02:10 PM Read more
AWS plans to boost transparency and data residency controls in India

As the Indian Government orders tech giants to locally store residents’ data, AWS plans to continue building its current capabilities in the nation.

By Chanel | December 05, 2022 01:45 PM Read more
ESIC approves ETF investments for surplus funds

In its 189th meeting, held on Sunday, ESIC agreed for surplus funds to be invested in equity, however restricting it to ETFs, to help diversify the portfolio.

By Friyana | December 05, 2022 01:07 PM Read more
Bank of Baroda approves agri-loans of ₹134 Crores in Tamil Nadu

During its ‘Baroda Kisan Pakhwada’ programme, around 161 rural and semi-urban branches of the bank sanctioned these loans to over 20,000 farmers in the state.

By Sajhyadri | December 05, 2022 01:00 PM Read more
FPIs saw net equity inflows of ₹36,329 Crores in November

This strong market return after two months of financial lows was influenced by positive economic trends and is expected to continue in December, economists say.

By Sajhyadri | December 05, 2022 12:20 PM Read more
India’s housing sector expected to rise steadily for the next 3 years

11 property experts in a poll conducted by Reuters revealed that the sector is likely to witness a rise, which will be in line with India’s overall economic growth.

By Friyana | December 05, 2022 12:10 PM Read more
Cryptocurrency exchange Bybit to lay off 30% of its employees

The decision was taken under the company’s reorganisation, amidst the continuously falling cryptocurrency market. CEO Ben Zhou also declared job cuts across the board.

By Friyana | December 05, 2022 11:36 AM Read more
HDFC Bank revises rewards points scheme for credit card users

Effective from 1st January 2023, the bank imposed limits on reward points earned for hotel and flight bookings, Tanishq vouchers, cashback redemption, etc.

By Sajhyadri | December 05, 2022 11:20 AM Read more
J&K to tackle cyber terrorism by creating a pool of cyber security analysts

The team will be governed under the newly introduced Cyber Security Policy (CSP). The policy was launched during a two-day e-governance national conference in Katra.

By Chanel | December 05, 2022 11:14 AM Read more
Adani Group offered around 53.27 lakh shares of NDTV

Against the company’s pitch to buy 1.67 crore shares at ₹294 apiece, Adani group was offered an 8.26% stake in NDTV, despite the steep discount in share price.

By Friyana | December 05, 2022 10:45 AM Read more
SBI raised ₹10,000 Crores via maiden infra bond issue

This was the largest single infra bond issued by any bank in India, SBI revealed through a release. It plans to utilise the funds to finance projects in the road and power segments.

By Chanel | December 05, 2022 10:38 AM Read more
FMCG sales drop after the festive surge

Sellers are reporting that consumer goods are seeing a post-festive hangover beyond the expected range, with consumption falling to new lows from September.

By Sajhyadri | December 05, 2022 10:20 AM Read more
RBI’s Monetary Policy Committee might hike repo rate by 25-35 bps

The Reserve Bank of India’s Monetary Policy Committee will hold its meeting around 5th- 7th December 2022, wherein it is expected to hike repo rates by 25-35 bps.

By Shivani | December 02, 2022 11:53 PM Read more
Weekly Markets: Nifty Bank hit fresh record high at 43,515.05; Indices ended in red

Over the week, the Indian benchmark indices noted several positive upturns, including Nifty and Nifty Bank reaching new records. Friday’s session finally closed with the indices being in red.

By Chanel | December 02, 2022 03:47 PM Read more
MGNREGS funds nearly over due to 4-month high work demand

The country’s largest anti-poverty scheme saw the highest demand in November, when over 2.25 crore citizens applied, against August’s 1.91 crore applicants.

By Sajhyadri | December 02, 2022 03:30 PM Read more
Karnataka Bank announced fresh FD interest rates

The freshly revised interest rates will range between 5.25-5.80%., with a maximum interest of 7.60% being offered to senior citizens with deposit tenures of 555 days.

By Shivani | December 02, 2022 02:54 PM Read more
ED raids finance companies and stock brokers, uncovers alleged ₹190 Crore fraud

The Enforcement Directorate recently conducted raids on the premises of 16 finance companies and stock brokers in Chennai, Delhi and Mumbai to investigate a potential fraud.

By Aadeesh | December 02, 2022 02:35 PM Read more
Centrum Housing Finance set to acquire National Trust Housing

CHFL is in the middle of talks with Chennai-based Natrust for a cash deal to acquire the company and expand its housing finance services in Southern India.

By Sajhyadri | December 02, 2022 02:35 PM Read more
IDFC First Bank updates FD rates up to 7.25% on 750-day deposits

Effective from 1st December 2022, rates for deposits maturing between 7 days and 10 years will now offer customers interests ranging from 3.50% to 6.00%.

By Sajhyadri | December 02, 2022 02:00 PM Read more
Farmers received claims worth ₹1.25 Lakh Crores under govt. scheme

The Central Government said that farmers received payments for their claims worth ₹1.25 Crores under the Pradhan Mantri Fasal Bima Yojana (PMFBY).

By Aadeesh | December 02, 2022 01:48 PM Read more
RBI could reduce FY23 GDP growth forecast

The RBI may re-evaluate India’s GDP growth projections for the ongoing fiscal year, owing to a worldwide economic slowdown, which affected exports from the country.

By Aadeesh | December 02, 2022 01:09 PM Read more
CIEL HR to expand with 100% stake acquisition of Jombay

The Chennai-based firm revealed the acquisition plan as a strategic investment in its IPO lead-up, which will help expand its tech offerings in the HR domain.

By Sajhyadri | December 02, 2022 01:00 PM Read more
UCO Bank increases FD interest rates by almost 135 bps

The maximum interest rate of 6.50% will be offered on fixed deposits having a tenure of 666 days.

By Shivani | December 02, 2022 12:54 PM Read more
India’s household debt surged to ₹83.65 Lakh Crores in FY2022

As per RBI data, household liabilities rose by ₹6 Lakh Crores between 2021 and 2022 due to increased lending behaviour to meet daily needs during the pandemic.

By Sajhyadri | December 02, 2022 12:25 PM Read more
India’s first-ever passive tax saver scheme launched by IIFL Mutual Fund

IIFL Mutual Fund has launched its new fund offer for IIFL ELSS Nifty 50 Tax Saver Index Fund and is India’s first-ever such fund. It commenced on 1st December 2022.

By Aadeesh | December 02, 2022 12:14 PM Read more
PCI rolls out ‘Project Pratima’

The main motive is to prevent digitally-transacting customers from falling prey to fraud. It will be done by standardising icons of popular payment apps.

By Shivani | December 02, 2022 11:38 AM Read more
Reliance Industries Limited tops India’s 500 most valuable firms’ list

The ‘2022 Burgundy Private Hurun India 500’ report ranked Mukesh Ambani’s company at the top with a net value of ₹17.2 Lakh Crores, rising 3.6% from last year.

By Sajhyadri | December 02, 2022 11:35 AM Read more
SEBI directs AMFI to take action against bogus Telegram groups

SEBI has asked AMFI to stay vigilant of false Telegram groups, that mimic actual mutual fund entities to trap customers, and were asked to take appropriate action accordingly.

By Aadeesh | December 02, 2022 11:28 AM Read more
Government to offer incentives for boosting shipbuilding industry

The Centre plans to lower taxes, offer cash subsidies, and provide other incentives to help reduce the toll of hiked freight rates and help build 50 new ships.

By Sajhyadri | December 02, 2022 11:05 AM Read more
Telcos on hiring spree as 5G services roll out in India

Indian telecom operators have begun hiring employees at an aggressive rate in the remaining months of the ongoing fiscal year, as 5G services are being rolled out in the country gradually.

By Aadeesh | December 02, 2022 10:59 AM Read more
Reliance Capital has a liquidation value of around ₹13,000 Cr

Two independent valuers, Kroll, LLC and RBSA Advisors assigned a liquidation value of ₹12,500 Crores and ₹13,200 Crores respectively.

By Shivani | December 02, 2022 10:55 AM Read more
Adani Group set to invest ₹60,000 Crores in Odisha within next 10 years

Adani Group announced their plans of infusing ₹60,000 Crores in Odisha in the coming decade. To begin with, they will set up an LNG terminal in the state’s Dhamra port by December.

By Aadeesh | December 02, 2022 10:34 AM Read more
Data centres secured $10 Billion in investments since 2020

A report called 'Data Centre: Scaling up in Green age' also predicted that the data centre capacity might increase 2x, to 20 million square feet, by 2025.

By Shivani | December 02, 2022 10:17 AM Read more
Jane Street offers ₹4 Crore package in IIT placement rounds

At least 3 students from IITs of Kanpur, Bombay, and Delhi have bagged this PPO for foreign posts with the trading firm in the year’s final placement round.

By Sajhyadri | December 02, 2022 10:10 AM Read more
Petrol and diesel sales witness double-digit YoY growth in November 2022

Preliminary industry data has revealed that the sales of petrol and diesel in November 2022 saw tremendous YoY growth, due to high demand from the agriculture sector and the festive season.

By Aadeesh | December 02, 2022 10:04 AM Read more
Paytm: India might soon have over 50 crore digital payment customers

Paytm estimates India to have 50 crore digital payment customers and over 10 crore financial merchant entities soon.

By Shivani | December 02, 2022 09:46 AM Read more
Vi holding talks with SBI for loan of ₹15,000-16,000 Crores

The fund, to be proposed to the bank’s credit committee, will help Vi to meet its capex needs and pending 5G rollout’s gear supply, and clear significant dues.

By Sajhyadri | December 01, 2022 04:35 PM Read more
ICICI Bank launches STACK for real estate sector companies

ICICI Bank announced the launch of STACK for real estate companies to provide them with solutions regarding their banking needs. It is in addition to their STACK for corporates initiative.

By Aadeesh | December 01, 2022 04:34 PM Read more
Edelweiss Mutual Fund starts 4th tranche of BHARAT Bond ETF

The 1st corporate bond ETF in India, it will allow Edelweiss to raise an initial fund up to ₹1,000 Crores. This new scheme is set to mature in April of 2033.

By Sajhyadri | December 01, 2022 03:35 PM Read more
LastPass reports data breach for the second time this year

On Wednesday, 30th November 2022, LastPass stated that it is investigating the breach and assured that user passwords haven’t been compromised.

By Shivani | December 01, 2022 03:31 PM Read more
Domestic investors offloaded equities worth ₹6,300 Crores in November

Domestic institutional investors have further slowed down with their equity investments in November 2022, as they offloaded stocks worth ₹6,300 Crores, despite Nifty and Sensex reaching new highs.

By Aadeesh | December 01, 2022 03:00 PM Read more
Marico launches new programme to benefit people with career breaks

The initiative, ‘Phoenix’ will be a gender-neutral programme aimed at helping individuals with a minimum career break of 1 year to re-enter the workforce.

By Shivani | December 01, 2022 02:56 PM Read more
PNB, BOI, and ICICI Bank hike MCLRs from December 1

While ICICI Bank raised its MCLR by 10 bps for 1-month to 1-year tenors, PNB hiked the same uniformly by 5 bps and BOI increased their MCLR by 20 to 25 bps.

By Sajhyadri | December 01, 2022 02:55 PM Read more
Tata Play now first-ever Indian firm to file confidential papers for IPO with SEBI

Tata Play is now the first-ever Indian company to have filed a confidential pre-filing of its offer document with SEBI for an IPO. They had filed documents with the BSE, NSE and SEBI on November 29.

By Aadeesh | December 01, 2022 02:28 PM Read more
SEBI cuts down timeline for issued debt securities listing

SEBI announced a reduction of the timeline for debt securities listings to 3 days from the current 4. It will be brought into effect from 1st January 2023.

By Aadeesh | December 01, 2022 01:43 PM Read more
India’s unemployment rate hit 8% in November

Data released by the Centre for Monitoring Indian Economy showed that the rate of unemployment in India surged to 8% in November, from October’s statistic of 7.7%.

By Shivani | December 01, 2022 01:43 PM Read more
Sensex crossed 63,000 for the first time ever on November 30

Many Indian equities rose to fresh highs just before closing, taking the index to this all-time high. The Nifty also crossed 18,800 due to foreign fund inflows.

By Sajhyadri | December 01, 2022 01:30 PM Read more
India’s Manufacturing PMI achieves 3-month high of over 55

The index hiked to hit its 3-month high of 55.7 in November 2022. An easing of the inflation rate and booming consumer demand were attributed to the surge.

By Shivani | December 01, 2022 01:08 PM Read more
Retail inflation is going down in India, says Finance Minister

The minister said that a positive framework is in motion to address the pressure on supply chains and that inflation will go below RBI’s 6% threshold by 2023.

By Sajhyadri | December 01, 2022 12:50 PM Read more
Temasek purchases 1.14% stake in Zomato worth ₹607.60 Crores

Temasek Holdings has purchased 9.80 crore of Zomato’s shares worth ₹62 per piece for a total of ₹607.60 Crores and now has a claim of 1.14% stake of the company .

By Aadeesh | December 01, 2022 12:25 PM Read more
WestBridge Capital and others may acquire 26% stake in BoB Financial Solutions

The company hopes this sale will help the business capitalise on India’s new credit culture and penetrate into small-town markets.

By Shivani | December 01, 2022 12:22 PM Read more
India’s credit growth rose to decade-highest of 18.3% in October

RBI’s data indicated that home loans, corporate firms, and NBFCs accounted for 51% of credit growth from October 2021 to October 2022, amounting to ₹95.5 Lakh Crores.

By Sajhyadri | December 01, 2022 12:00 PM Read more
SEBI permits the usage of equity ETFs as collateral

SEBI proposed this revision considering the benefits of transparency, diversification, lower cost, etc., which come with the usage of equity ETFs as collateral.

By Shivani | December 01, 2022 11:39 AM Read more
Sundaram Finance plans to decrease CV loan dependency, build SMEs

Sundaram Finance, an NBFC from Chennai plans, to bring down its dependency on commercial vehicles and will attempt to grow its exposure to small and medium enterprises (SMEs).

By Aadeesh | December 01, 2022 11:28 AM Read more
IOCL planning to set up new arm for green energy business

The country’s largest oil marketing entity is planning the expansion of its existing energy businesses with a target of producing 5% green hydrogen by 2027-28.

By Sajhyadri | December 01, 2022 11:15 AM Read more
IndusInd Bank announced fresh FD interest rates

A maximum interest rate of 7.75% will be offered to senior citizens for fixed deposits of under ₹2 Crores, having a maturity tenure of 2 years and 1 month.

By Shivani | December 01, 2022 11:03 AM Read more
RBI’s revamped digital lending norms come into effect from today

The RBI’s revised digital lending guidelines have been brought into effect from today, 1st December 2022. This will help ensure customers are not charged excessive interest rates by some entities and more.

By Aadeesh | December 01, 2022 10:45 AM Read more
Retail inflation rate slumped, to be a little over 6% in September

The index, which is applicable to industrial workers, indicated a downward trend to 6.08 percent in October 2022. The same was logged to be 6.49 percent in September.

By Shivani | December 01, 2022 10:29 AM Read more
NBFCs likely to see AUMs grow by up to 14% in FY 2023

Crisil Ratings stated that this 13-14% growth, twice that of what was seen in FY2022, will stem from the continued demand for the unsecured, vehicle, and home loans from NBFCs.

By Sajhyadri | December 01, 2022 10:25 AM Read more
India’s core sector sees cooldown to 0.1% in October 2022

According to the government data published on December 1, India witnessed a slowdown of its core sector industry growth in October 2022 to 0.1%, compared to 8.7%, in the same month, last year.

By Aadeesh | December 01, 2022 10:19 AM Read more
Digital Rupee likely to be as anonymous as dealing in cash

RBI has asked banks to not report any virtual currency transactions of less than ₹50,000. This will give users the same level of anonymity that cash-based transactions offer.

By Chanel | December 01, 2022 10:09 AM Read more
SanKash witnessed a 102% hike in travel loan amounts in Q2

The travel fintech platform also noted a 50% rise in the number of customers opting for travel loans, with a higher demand for international travel destinations.

By Sajhyadri | November 30, 2022 05:30 PM Read more
Assam’s MF industry has AUM of ₹20,600 Crores: CMO of Union AMC

According to Saurabh Jain, CMO of Union AMC Private Limited, Assam mutual funds industry’s AUMs are worth ₹20,600 Crores, taking up 6% of the state’s GDP, as per AMFI data from October 2022.

By Aadeesh | November 30, 2022 05:22 PM Read more
H&M to lay off around 1,500 workers to cut operating costs

On 30th November 2022, H&M revealed layoff plans for around 1,500 workers to cope with lowering consumer demand and proceed with restructuring in the 4th quarter.

By Sajhyadri | November 30, 2022 04:50 PM Read more
Mid-Week Markets: Nifty & Sensex broke their record highs

Nifty broke its record on a few occasions before finally surpassing the 18,700 mark on 30th November 2022. On the same day, Sensex exceeded 63,000 points.

By Chanel | November 30, 2022 04:43 PM Read more
RBI’s interest rates may be close to their peak, suggests short tenure bonds

Fund managers are optimistic that the RBI may be at the end of its interest rate-hike cycle and do not find much appeal in long-term securities anymore due to the 2024 elections.

By Aadeesh | November 30, 2022 04:09 PM Read more
SaaS company Prismforce raises $13.6 million in Series A funding

On 30th November 2022, the SaaS firm received this capital from Sequoia Capital India and foreign angel investors to grow its various services and ventures.

By Sajhyadri | November 30, 2022 03:35 PM Read more
Senior person in Gurugram duped of ₹37 Lakhs on pretence of credit card address update

A senior citizen of Gurugram was duped of ₹37 Lakhs by a fake bank customer care agent after his credit card was marked as incorrectly delivered.

By Aadeesh | November 30, 2022 03:08 PM Read more
Biocon Biologics completes 100% acquisition of Viatris for $3 Billion

The biosimilars producing company made the deal with American pharma entity Viatris for a deal involving a $2 Billion cash payment and $1 Billion paid as equity.

By Sajhyadri | November 30, 2022 03:00 PM Read more
UP Deputy CM assures investors of government’s support

At the U.P. Leadership Summit, Deputy Chief Minister, Brajesh Pathak assured entrepreneurs of the government’s support for investing in the state to make it a $1 Trillion economy in the next 5 years.

By Chanel | November 30, 2022 02:39 PM Read more
Citibank initiates implied client consent for move to Axis Bank

Citibank India has taken a unique approach for shifting their clientele to Axis Bank via an email intimation which stated that any transactions made on or after Nov 21 will be considered as implied consent.

By Aadeesh | November 30, 2022 02:30 PM Read more
Esports platform Gamerji raises over ₹24 Crores in funds

The online gaming platform raised the capital from investors, Unicorn India Ventures and GVFL Limited, to expand to Southeast Asia, North Africa, and the Middle east.

By Sajhyadri | November 30, 2022 02:20 PM Read more
JK Lakshmi Cement’s stocks achieve record high in November with 28% rise

During Wednesday’s intra-day trade session at the BSE, JK Lakshmi Cement’s shares achieved a new high of ₹706.55 apiece and was up by 3%. It has gained about 6% in the past three days.

By Aadeesh | November 30, 2022 01:30 PM Read more
NBFCs may pursue more co-lending pacts due to sustained loan demand

Many NBFCs may enter co-lending partnerships in the future to build their balance sheets as they are expected to report credit growth in double digits. Such partnerships will also enhance their liquidity.

By Aadeesh | November 30, 2022 12:54 PM Read more
Kotak fund to invest ₹550 Crores in Sanghi Industries

Kotak Special Situations Fund announced that it has committed ₹550 Crores to Sanghi Industries Limited (SIL) via non-convertible debentures. On Tuesday, Sanghi Industries’ shares climbed to ₹66.50 by 0.2% on BSE.

By Chanel | November 30, 2022 12:49 PM Read more
Jeweller to pay fine on ₹100 Crores worth post-demonetisation deposit

A division bench of the Income Tax Appellate Tribunal imposed the tax and penalty on the jeweller for his ‘unscrupulous’ deposits made just after demonetisation.

By Sajhyadri | November 30, 2022 12:45 PM Read more
Fraud calls and messages in India are on an unprecedented rise

Almost every day, users receive calls and texts that threaten to disconnect a household utility or block their bank account unless they share some private information.

By Sajhyadri | November 30, 2022 12:05 PM Read more
Two people were allotted the same PAN; SC questions IT department

One of the individuals has been asked to repay ₹2 Lakhs in credit card debt. Justice Prathiba M. Singh sent notices to the IT Department and other institutions for the same.

By Chanel | November 30, 2022 11:52 AM Read more
Rupee opens higher amidst Dollar fallback on November 30

On 30th November 2022, the Indian Rupee opened high at ₹81.64 against the US Dollar compared to the previous day’s close at ₹81.72. It is anticipated to rise further in the next few sessions.

By Aadeesh | November 30, 2022 11:48 AM Read more
Young Indians becoming more credit conscious, says CIBIL study

New-age borrowers up to age 40, accounting for a larger segment of the industry, are becoming more credit conscious, with a better hold on their credit profile.

By Sajhyadri | November 30, 2022 11:30 AM Read more
Britannia enters into joint venture agreement with Bel SA

Britannia Industries Limited entered into a joint venture agreement with Bel SA and Britannia Dairy Private Limited on November 29 to engage in the cheese business in India.

By Aadeesh | November 30, 2022 11:13 AM Read more
SEBI: Caps debt funds’ single-company exposure

SEBI’s new rule was made applicable to mutual fund schemes from 29th November 2022. Existing schemes have been given leeway until their underlying debt securities mature.

By Chanel | November 30, 2022 11:10 AM Read more
India’s annual GDP growth slows in Q2 FY23 as COVID-19 effects reduce

According to economists, India’s annual GDP growth had witnessed a slowdown in the September-ending quarter of 2022, as COVID-19-induced distortions have begun fading away.

By Aadeesh | November 30, 2022 10:47 AM Read more
Festive season hiring grew by 73% in 2022

According to a report, between August to October 2022, festive season recruitment increased by 73% in comparison to last year.

By Chanel | November 30, 2022 10:44 AM Read more
IITs see a surge in PPO acceptance amidst global fears

Many IIT candidates across the country are signing up for pre-placement offers, due to uncertainty in foreign chances, recession fears, global layoffs, etc.

By Sajhyadri | November 30, 2022 10:40 AM Read more
Adani Properties bags rights for Dharavi redevelopment project

Adani Properties Private Limited has obtained the rights to redevelop Dharavi in Mumbai. They won the bid worth ₹5,069 Crores, as opposed to the government’s ₹1,600 Crores allotment.

By Aadeesh | November 30, 2022 10:14 AM Read more
SBI overtakes HDFC Bank in new credit cards issued in October

SBI Cards added 3,40,000 fresh credit cards while HDFC’s new issues fell to 2,20,000. ICICI Bank and Axis Bank made just over 2,20,000 and 2,60,000 additions.

By Sajhyadri | November 30, 2022 10:10 AM Read more
Major foreign brands likely to debut in India next year

Certain international brands like Roberto Cavalli and Dunhill are in talks with local vendors to set up retail stores in India’s metro cities.

By Chanel | November 30, 2022 10:07 AM Read more
Union Bank plans to raise ₹2,200 Crores via tier-2 bond issues

The bank will raise ₹1,500 Crores through bonds maturing in 15 years and ₹700 Crores via bonds with a tenure of 10 years, both having a face value of ₹10 Lakhs.

By Sajhyadri | November 29, 2022 06:30 PM Read more
RBI to commence pilot for retail digital Rupee on December 1

The RBI will launch the first-ever pilot for the retail digital Rupee, called e₹-R on December 1 and has shortlisted select banks to engage with it in a phase-wise manner.

By Aadeesh | November 29, 2022 06:21 PM Read more
Active credit cards in India surge to 7.93 Crores in October

A report by Zee Business states that this surge was seen after a drop in the number of cards in use during August and September, due to RBI’s deactivation norms.

By Sajhyadri | November 29, 2022 05:40 PM Read more
Centre unlikely to ease stance on crypto tax for Budget FY24

According to insiders, the Central Government is unlikely to alter its firm stance regarding taxation on virtual digital assets, which is currently at 1% TDS, along with other related charges.

By Aadeesh | November 29, 2022 05:37 PM Read more
CRED to acquire financial lending services platform CreditVidya

The Indian fintech company made the acquisition, via a mixed deal of stock and cash, to expand its financial ecosystem via CreditVidya’s customer base.

By Sajhyadri | November 29, 2022 05:00 PM Read more
Uttar Pradesh Govt. requests commercial banks to augment credit flow

The UP Government has asked all commercial banks to boost their credit flow in certain backward parts of the state in order to reach their objective of being a $1 Trillion economy by 2027.

By Aadeesh | November 29, 2022 04:27 PM Read more
Home loans portfolio continue to thrive in India’s housing market

S&P Global Market Intelligence said in a recent report that banks and NBFCs can maintain their home loan accounts, as India’s housing market remains at a high.

By Sajhyadri | November 29, 2022 04:05 PM Read more
Kotak Alternate Assets may raise $1 Billion for data centre fund

Kotak Alternate Assets may raise around $1 Billion as investment into its data centre business called ‘Kotak Data Centre Funds’. It has announced Subhamkar Das as the CEO.

By Aadeesh | November 29, 2022 03:35 PM Read more
Go First receives ₹400 Crores as part of ECLGS

Go First has been given ₹400 Crores under a government programme called the Emergency Credit Line Guarantee Scheme (ECLGS) and expects to operate more flights after receiving 16 new P&W engines.

By Aadeesh | November 29, 2022 02:51 PM Read more
Gland Pharma might be put up for sale soon

Guo Guangchang’s Shanghai Fosun Pharmaceutical Co., Ltd. has a 74% stake in Gland Pharma. He also owns the latter and plans to sell it to interested market players.

By Shivani | November 29, 2022 02:45 PM Read more
SBI board approves raising of funds via infrastructure bonds

The bank’s Executive Committee of the Central Board agreed to the proposal for raising up to ₹10,000 Crores in infrastructure bonds, on 29th November 2022.

November 29, 2022 02:30 PM Read more
Central Govt. to introduce light touch regulation for tech giants

The regulation will require tech giants to give disclosures about why they chose not to onboard certain applications on their app store platforms.

By Shivani | November 29, 2022 02:10 PM Read more
IDBI Bank achieves 52-week high of ₹55.60, rallies 5% on the BSE

IDBI Bank’s shares hit an all-time high in 52 weeks with their shares sold at ₹55.60 apiece on Tuesday, 29th November 2022’s intra-day trade.

By Aadeesh | November 29, 2022 01:56 PM Read more
Crypto platform BlockFi declares bankruptcy after high FTX exposure

The digital currency lender filing for bankruptcy protection is the latest victim of the sharp collapse in crypto prices on the FTX Exchange earlier this month.

By Sajhyadri | November 29, 2022 01:50 PM Read more
Zoroastrian Co-operative Bank given ₹1.25 Crores penalty by RBI

The RBI has imposed the Zoroastrian Co-operative Bank, Mumbai a penalty of ₹1.25 Crores for non-conformity with certain directives. It also penalised six other co-operative banks for similar reasons.

By Aadeesh | November 29, 2022 01:24 PM Read more
Suzuki reduces sales target for India by 30% for 2030

Suzuki Motor Corporation brought down its projected sales in India for 2023 by 30%, owing to COVID-19 disruptions and chip shortages. They previously aimed for a sales target of 5 million units.

By Aadeesh | November 29, 2022 01:08 PM Read more
AIIMS server hackers ask for ₹200 Crores in cryptocurrency

The ransomware attack was discovered on Wednesday, 23rd November 2022. After six days, the cyber criminals are seeking to extort ₹200 Crores in cryptocurrency.

By Shivani | November 29, 2022 01:03 PM Read more
Fusion MicroFinance reports quarterly profits of ₹95 Crores

In the September quarter, the newly listed NBFC showed a 118% rise in net interest income of ₹241 Crores and a 70% YoY surge in total profits of ₹453 Crores.

By Sajhyadri | November 29, 2022 01:00 PM Read more
Nifty IT might surge by over 12% soon

Market experts suggested purchasing stocks of Larsen & Toubro Infotech Limited (L&T Infotech), Infosys Limited, Persistent Systems, and Saksoft.

By Shivani | November 29, 2022 12:27 PM Read more
Yahoo set to acquire around 25% stake in Taboola

The two companies signed a 30-year deal that will give Yahoo a seat on Taboola’s board and the latter will get exclusive paid ad rights on the platform’s sites.

By Sajhyadri | November 29, 2022 12:15 PM Read more
Flipkart may go for $700 Million ESOP buyback

Flipkart may soon go for a $700 Million ESOP buyback, as part of PhonePe’s latest funding round. It is expected to re-adjust Flipkart’s valuation to $33 Billion from the previous $37.6 Billion.

By Aadeesh | November 29, 2022 11:47 AM Read more
SEBI revises framework for depository participants, other market intermediaries

The revised framework will be applicable to depository participants, stockbrokers, investment advisers, etc. It will be enforced from 1st December 2022.

By Shivani | November 29, 2022 11:46 AM Read more
Banks experience greater demand for gold loans

Banking entities like HDFC Bank Limited, Axis Bank Limited and the State Bank of India tapped into the market share of NBFCs, in the sector of gold loans.

By Shivani | November 29, 2022 11:11 AM Read more
Fitch: Strong bank loan growth expected in FY23 despite rising interest rates

Fitch Ratings stated that India will have strong growth in its bank loans, despite rising interest rates. They predict India’s GDP to be at 7% in the current fiscal year.

By Aadeesh | November 29, 2022 11:06 AM Read more
Economists urge FM Nirmala Sitharaman to amp up capital expenditure

Economists pushed for greater capital expenditure, income tax rationalisation, and fiscal discipline during their pre-Budget meeting on 28th November 2022.

By Shivani | November 29, 2022 11:03 AM Read more
Centre planning to merge PF and pension for small-scale entities

The government hopes that this step will ease compliance for smaller firms with up to 20 workers and plans to fix PF and other payments to 10-12% of their wages.

By Sajhyadri | November 29, 2022 10:50 AM Read more
Dredging Corporation of India reveals plans to enter foreign markets

The state-owned company plans to venture into international dredging markets by forming alliances with major foreign ports to better plan vessel deployment.

By Sajhyadri | November 29, 2022 10:20 AM Read more
OYO updates EBIDTA to ₹56 Crores for September quarter of FY2023

The hospitality chain updated its financial results in the second addendum submitted to SEBI where it also reported decreased quarterly losses of ₹333 Crores.

By Sajhyadri | November 28, 2022 12:55 PM Read more
Candidates lower pay hike expectations as job market cools

Many recruiters and HR heads revealed that the job applicants’ expectations of pay hikes have been tempered considerably due to concerns of lesser options, hiring freezes and lowered roles.

By Aadeesh | November 28, 2022 12:50 PM Read more
Muthoot Finance to issue secured redeemable NCDs worth ₹300 Crores

The 29th public issue of secured redeemable non-convertible debentures will be opened for purchase on 28th November 2022 and conclude on December 19.

By Shivani | November 28, 2022 12:15 PM Read more
India’s economic growth slows to 6.2% in July-September quarter

The annual growth rate dropped after recording a 13.5% surge in the April to June period, with experts predicting figures to fall further in the coming months.

By Sajhyadri | November 28, 2022 12:10 PM Read more
DIPAM: IDBI to remain as a ‘Indian private sector bank’ post sale

Even after its privatisation, the Central Government will own a residual stake of 15% in the IDBI Bank, as a ‘public shareholding’. Prior to this, the centre will sell its 30.48% stake.

By Chanel | November 28, 2022 12:04 PM Read more
AMFI requests govt. for preferential Gold ETFs, FoF tax treatment

In its 2023-24 Budget proposal, AMFI has asked the government to provide preferential treatment for FoF and Gold ETFs to enable more bullion investments through mutual funds.

By Aadeesh | November 28, 2022 11:59 AM Read more
L&T Finance Holdings divests mutual fund business for over ₹3000 Crores

The divestment to HSBC Asset Management (India) Private Limited was closed at approximately ₹3,484 Crores, with a surplus cash balance of ₹764 Crores.

By Shivani | November 28, 2022 11:43 AM Read more
IRDAI Board revises norms for insurers, approves changes in ownership, solvency of insurance companies

On 25th November 2022, IRDAI approved several proposals. It also allowed insurers to raise certain alternative investments without IRDAI’s approval.

By Chanel | November 28, 2022 11:27 AM Read more
Need more direct and indirect tax reforms: Tarun Bajaj

India’s Revenue Secretary, Tarun Bajaj, stated that reforms need to be made in consideration of direct and indirect taxes, along with stabilisation in its structuring.

By Aadeesh | November 28, 2022 11:26 AM Read more
Merger with HDFC likely to take 8-10 months more, says HDFC Bank

Housing Development Finance Corp. Ltd. (HDFC) and HDFC Bank held general meetings on 25th November 2022, to get their shareholder’s approval on potentially India’s largest corporate merger of $40 Billion.

By Chanel | November 28, 2022 11:18 AM Read more
CII pushes RBI for slower interest rate hikes

The Confederation of Indian Industry stated that the central bank’s interest hike of 190 bps in 2022, has significantly affected the government and corporate sectors.

By Shivani | November 28, 2022 11:15 AM Read more
India likely to become L'Oreal’s largest market in Asia-Pacific region

The French beauty company is expecting its largest consumer base to come from India by 2030, due to higher distribution and innovation in the mass-price segment.

By Sajhyadri | November 28, 2022 10:15 AM Read more
AMFI requests tax parity for Mutual Funds with related schemes

In its ‘Proposals for Union Budget – FY2022- 23’, AMFI also asked to include FOF schemes under MFs and demanded steps to improve the country’s MF industry.

By Sajhyadri | November 25, 2022 05:20 PM Read more
Weekly Markets: Sensex recorded closing high of over 62,000, Nifty settled in green

Sensex saw its highest-ever record of 62,272.68 on Thursday’s close, but fell flat on Friday. On the other hand, Nifty ended the week in green.

By Aadeesh | November 25, 2022 05:09 PM Read more
Hariom Pipe Industries’ shares rise by 12% to reach 52-week high

The steel goods producer saw their shares surge to ₹319.40, spurred by the opening of their new 15-tonnes-capacity electric melting furnace, on 25th November 2022.

By Sajhyadri | November 25, 2022 04:30 PM Read more
Finance Ministry to rationalise LTCG tax structure

The department hopes to do so by establishing consistency amongst similar asset classes and revising the base year for calculating indexation benefits.

By Shivani | November 25, 2022 03:56 PM Read more
Stock of Bikaji Foods soared by 8%, hit fresh high of ₹408

Bikaji Foods’s upsurge occurred for the fourth day in a row, during the intra-day trading session on Friday, 25th November 2022.

By Shivani | November 25, 2022 03:07 PM Read more
PNB gets govt. approval to divest its stakes in UTI AMC

The dilution of the state-owned bank’s 15.22% stake in UTI AMC is part of its long-term plan to sell its non-core assets for strengthening its capital base.

By Sajhyadri | November 25, 2022 01:40 PM Read more
PB Fintech shares rise by 11.5% to register day’s high of ₹446.75

Shares of Policybazaar’s parent company reached this high due to heavy stock purchases led by traders buying shares that hit the day’s lowest point.

By Sajhyadri | November 25, 2022 12:50 PM Read more
Keystone Realtors makes market debut with almost 3% premium over IPO price

The company made its debut with a premium over the issue price of ₹555, on the Bombay Stock Exchange and the National Stock Exchange, on 24th November 2022.

By Shivani | November 25, 2022 12:48 PM Read more
EPFO data reveals shortage in job creation; Experts say not to worry

EPFO data recorded a notable fall in job creation in September at 9.3 lakhs as compared to August. However, experts view this as a positive sign instead.

By Aadeesh | November 25, 2022 12:33 PM Read more
RBI introduces new rule on interest calculation of credit card bills

As per the central bank’s order for all credit card issuers, unpaid taxes, or other charges cannot be capitalised to compound the interest of a card’s bill.

By Sajhyadri | November 25, 2022 11:55 AM Read more
Zomato’s market share rises despite Swiggy’s high discounts

A report from Jeffries has revealed that Zomato has more market share in the food delivery sector in comparison to Swiggy, despite the latter’s attempt to provide more discounts to users.

By Aadeesh | November 25, 2022 11:50 AM Read more
Nifty Bank surges to over 43000-points amidst bullish market trends

On Thursday, 24th November 2022, Bank Nifty surged by 0.8% from its previous session, closing at 43075.40 points for the first time ever.

By Shivani | November 25, 2022 11:17 AM Read more
Insurers and banks to pick up 50% stake in IOC-CPCL JV unit

Two banks and three life insurance companies plan to take a 50% stake in a newly proposed joint venture by Chennai Petroleum Corporation Limited (CPCL) and Indian Oil Corporation Limited (IOC).

By Chanel | November 25, 2022 11:15 AM Read more
Indian equities mark new all-time highs on Thursday’s Sensex

Sensex achieved its highest-ever record by closing over 62,000 on Thursday’s market, whereas Nifty crossed 18,500 intraday, due to the US Fed’s recent decision on interest rates.

By Aadeesh | November 25, 2022 11:13 AM Read more
Koo to fundraise $15-20 Million

The growing social media and microblogging platform plans to rope in investors like Tiger Global, Accel, and 3one4 Capital, among others.

By Shivani | November 25, 2022 10:40 AM Read more
Finance Ministry: Moderately brisk growth expected in coming years

The Department of Economic Affairs stated in its Monthly Economic Review for October that India is in a good position to see growth at a moderately brisk rate in the next few years.

By Aadeesh | November 25, 2022 10:39 AM Read more
ZestMoney may be acquired by PhonePe in a major consolidation move

Some anonymous sources revealed that ZestMoney has been on the lookout for potential buyers for a few months now. This deal would be the biggest consolidation move in the BNPL sector.

By Chanel | November 25, 2022 10:35 AM Read more
Telecom service providers’ AGR surged by over 17% in April-June 2022

In April-June 2022, the adjusted gross revenue of the telecommunications sector surged to achieve a valuation of ₹60,530 Crores, a TRAI report said.

By Shivani | November 24, 2022 05:18 PM Read more
Central Government revamps rules for corporate asset valuation entities

On 22nd November 2022, the Companies (Registered Valuers and Valuation) Amendment Rules, 2022 was issued by the Ministry of Corporate Affairs.

By Chanel | November 24, 2022 04:44 PM Read more
Updated ITR filings bring in additional tax of ₹400 Crores

The new ITR-U form introduced in May by the Finance Act, 2022 allows this provision for up to 2 years of the initial filing, starting from the FY2019-20 period.

By Sajhyadri | November 24, 2022 03:45 PM Read more
Demand for office space leases fell by 21% YoY in October 2022

Property consultant firm, JLL India, stated that demand for all grades of office buildings fell across the top seven cities of India.

By Shivani | November 24, 2022 03:25 PM Read more
Motilal Oswal AMC to commence investments in overseas schemes

Motilal Oswal Asset Management Company announced its re-entry into international schemes by restarting three of its subscription schemes. It will accept up to ₹2 Lakhs each month.

By Aadeesh | November 24, 2022 03:19 PM Read more
PFRDA disallows transfer of savings under NPS to states

The Pension Fund Regulatory and Development Authority has informed state governments that they cannot claim employees’ NPS deposits while reverting to the old pension scheme.

By Aadeesh | November 24, 2022 01:37 PM Read more
Income Tax Department sent discrepancy notices to many AIFs, FPIs

An Income Tax Department official stated that they discovered discrepancies in tax filings for FY2022, worth approximately ₹13,000 Crores.

By Shivani | November 24, 2022 01:13 PM Read more
Jet Airways staff submits legal notice over pending dues

The airline’s employee union, AIJOSA, has reportedly sent a legal notice to the Jalan-Kalrock Consortium regarding unpaid gratuity and provident fund dues.

By Sajhyadri | November 24, 2022 01:10 PM Read more
Bajaj Housing Finance Limited launches 'My EMI' for home loans

The new service allows interested borrowers the freedom of paying only 0.1% of their home loan as EMI, with the actual EMI starting after the chosen tenure.

By Sajhyadri | November 24, 2022 12:35 PM Read more
CoinSwitch released new platform for cross-exchange crypto trading

The new platform, CoinSwitch Pro, will enable users to trade crypto tokens across different exchanges without having to log in separately.

By Shivani | November 24, 2022 12:21 PM Read more
SEBI halts AIF schemes with priority distribution model

SEBI announced that it will stop alternative investment funds with a priority distribution model, which allows certain investors to exit a scheme before others.

By Aadeesh | November 24, 2022 12:15 PM Read more
India and the GCC to discuss a free trade pact on November 24

The Gulf Cooperation Council and India will commence discussions for a free trade agreement to promote two-way investments and commerce between the involved nations.

By Chanel | November 24, 2022 11:48 AM Read more
Multiple public sector banks surged to a 52-week high

Bank of India, Bank of Baroda, Indian Bank and Punjab National Bank, among others, surged to hit their 52-week high on Bank Nifty, on 23rd November 2022.

By Shivani | November 24, 2022 11:37 AM Read more
Tata Consumer Products to acquire Bisleri for ₹6,000-7,000 Crores

Ramesh Chauhan, Bisleri’s Chairman, said that he is selling off the company to the FMCG giant since he does not have a suitable successor to take it forward.

By Sajhyadri | November 24, 2022 11:30 AM Read more
Kae Capital announces close of Fund III at ₹767 Crores

Kae Capital has closed its ‘Fund III’ at ₹767 Crores and has had multiple investors/entrepreneurs as part of it. So far, it has raised 60% of its capital from domestic stakeholders.

By Aadeesh | November 24, 2022 11:13 AM Read more
Goldman Sachs forecast for India in 2023; Nifty50 to hit 20,500

In its recent forecast on India’s outlook for 2023, Goldman Sachs made several predictions about the country’s growth, including Nifty50 bringing investors a 12% price return.

By Chanel | November 24, 2022 11:03 AM Read more
Central Govt. asks ministries to find new assets for monetisation

The Centre had set the asset monetisation budget for FY23 to be ₹1.6 Lakh Crores. However, after seven months, only ₹33,443 Crores was generated.

By Shivani | November 24, 2022 10:56 AM Read more
Meta receives 55,000 requests from India for action on 91,000 accounts in H1 2022

Meta Platforms, Inc., in its quarterly integrity and transparency report for Q3 2022, stated that out of the number of requests received by them, it has provided data for 66.59% of cases.

By Aadeesh | November 24, 2022 10:45 AM Read more
2 LIC term plans withdrawn; Jeevan Amar and Tech Term

From 23rd November 2022, LIC stopped issuing new policies for these term insurance plans. However, active policies will continue to function as per usual for existing holders.

By Chanel | November 24, 2022 10:45 AM Read more
Gautam Adani to raise $5-10 Billion for deleveraging

Asia’s Richest Man seeks to raise capital by getting sovereign wealth funds and international conglomerates to invest in his business empire.

By Shivani | November 24, 2022 10:37 AM Read more
SBI targets to restrict bad loans to less than 1%

The bank’s chairman revealed a 14-16% credit growth expectation for FY23 and hopes to boost efforts to attract more deposits and loan demands across sectors.

By Sajhyadri | November 24, 2022 10:30 AM Read more
Amazon India summoned by Union Ministry of Labour over lay offs

The firm will be presented before the Deputy Chief Labour Commissioner in Bangalore on Wednesday, 23rd November 2022.

By Friyana | November 23, 2022 05:49 PM Read more
Market seeing increased policy rates and risk-investing, says RBI

RBI’s ‘State of the Economy’ report for October also showed a resilient macroeconomic outlook with easing trends of headline inflation for the country.

By Sajhyadri | November 23, 2022 05:00 PM Read more
Jharkhand to train more than 1 Lakh cyber fighters

The youths will be trained within the next five years by Jharkhand’s Department of Higher and Technical Education to tackle the Jamtara gang of cybercriminals.

By Friyana | November 23, 2022 04:35 PM Read more
FIDC counsels Finance Minister against regulating NBFCs like banks

This week, FIDC opposed attempts to regulate NBFCs like banks. In a memo to the government, it stated that such a development could impact the underbanked segment.

By Chanel | November 23, 2022 04:26 PM Read more
Removing export duty on steel will boost profits, says industry experts

Effective November 19, the removal of these charges will give steel producers the freedom to reach overseas markets and boost the industry’s long-term profits.

By Sajhyadri | November 23, 2022 03:30 PM Read more
PE houses and VCs no longer allowed to extend their fund’s life

SEBI has now prohibited venture capitalists, private equity houses, debt and real estate fund managers from extending their funds’ lives to ensure no fire sale of securities and assets.

By Aadeesh | November 23, 2022 03:18 PM Read more
HP plans to fire around 6,000 employees

Lower demand for personal computers has caused HP’s revenues to fall significantly. Thus, the company plans to cut overhead costs by laying off employees.

By Shivani | November 23, 2022 02:17 PM Read more
DSCI signs MoA with Chitkara University for joint programs on Cyber Security and Privacy

Under this Memorandum of Association, the DSCI and Chitkara University will collaboratively undertake programmes on privacy and cyber security.

By Friyana | November 23, 2022 02:09 PM Read more
HDFC Bank, REC and more to raise ₹9,200 Crores via bonds issue

Companies such as HDFC Bank, REC, Indian Oil Corporation and more aim to raise about ₹9,200 Crores through bonds. All bids are set to take place on BSE and NSE platforms.

By Aadeesh | November 23, 2022 02:03 PM Read more
Credit Suisse to reduce 9,000 jobs, warns of $1.6 Billion losses in Q4

The Zurich-based bank decided to cut down 2700 jobs in 2022 only, due to losses in Q4 of FY2023 based on reduced client activity and downward market conditions.

By Sajhyadri | November 23, 2022 02:00 PM Read more
India’s Digital Personal Data Protection Bill might risk citizens’ privacy

The new draft raises concerns about mass surveillance, arbitrary data collection, and storage of personal information for unreasonably long periods.

By Friyana | November 23, 2022 01:58 PM Read more
Kotak Mahindra General Insurance releases a new car insurance add-on, ‘Meter’

Customers will now be able to switch OFF their private car insurance using the Meter technology when the car is not being used.

By Shivani | November 23, 2022 01:39 PM Read more
28% tax to be levied on earnings of online gaming, panel advises

The group of state finance ministers decided to propose increasing this tax from the current 18% charged on all profits of online games, casinos, etc.

By Sajhyadri | November 23, 2022 12:30 PM Read more
SEBI approves IPO plans of Protean eGov Technologies, Balaji Speciality Chemicals

Protean eGov Technologies and Balaji Speciality Chemicals will sell 1.2 crores and 2.6 crores of their shares respectively.

By Shivani | November 23, 2022 12:27 PM Read more
HDFC Securities to launch new discount broking platform

With its upcoming discount broking platform, HDFC Securities will aim to ensure value addition and customer satisfaction, apart from raising its market share.

By Aadeesh | November 23, 2022 12:20 PM Read more
Google might lay off over 10,000 employees with 'low performance'

Under its new employee performance management system, which will be implemented in 2023, Google may fire 6% of its low-performing workforce.

By Friyana | November 23, 2022 12:14 PM Read more
COAI: WhatsApp, Telegram and others should reimburse telcos for network usage

COAI has proposed the regulation of OTT applications like WhatsApp, Telegram and Signal, to compensate telcos for utilising their network for their own services.

By Aadeesh | November 23, 2022 11:39 AM Read more
Asian share markets rise despite increasing COVID-19 cases in China

Despite rising COVID-19 cases in mainland China, Asian share markets continue to grow. However, investors are concerned that fresh infections could impact China’s reopening.

By Chanel | November 23, 2022 11:21 AM Read more
Central Govt. generates 16 lakh jobs monthly, says Ashwini Vaishnaw

The Indian Minister of Railways, Ashwini Vaishnaw, said that under PM Narendra Modi’s leadership, about 16 lakh jobs are created for people every month.

By Shivani | November 23, 2022 11:13 AM Read more
SEBI extends deadline for illiquid stock options cases’ settlement scheme to Jan 21

SEBI has extended the deadline for the settlement of illiquid stock options cases to 21st January 2022. It's applicable to those who were a part of reversal trades in BSE’s stock options segment between 2014-15.

By Aadeesh | November 23, 2022 11:00 AM Read more
Finance Minister holds pre-Budget meeting with market investors

In the meeting, they asked for single taxation on employee stock sales, a hike in STT rates, tax calculation only on interest, a general reduction of taxes, etc.

By Sajhyadri | November 23, 2022 10:55 AM Read more
Societe Generale buy 48 lakh Wipro shares for almost ₹186 Crores via block deal

On 22nd November 2022, Societe Generale purchased 48 lakh Wipro equity shares for ₹387 apiece. Meanwhile, BNP Paribas Arbitrage sold a similar number of the tech giant’s shares for ₹387.

By Chanel | November 23, 2022 10:51 AM Read more
OCED: India is one of the fastest growing economies in Asia

The Organisation for Economic Co-operation and Development released a report stating that India’s economy has the second-fastest growth rate amongst G20 nations.

By Shivani | November 23, 2022 10:38 AM Read more
Mukesh Ambani: Indian economy likely to grow to $40 Trillion by 2047

Mukesh Ambani, Chairperson of Reliance Industries, stated that India may see a 13-fold growth in its economy by 2047. He claims digitalisation and a clean energy revolution may aid in these efforts.

By Aadeesh | November 23, 2022 10:26 AM Read more
Vedanta approved third interim dividend of ₹17.50 per share

During Vedanta’s board of directors meeting, on 22nd November 2022, they approved a third interim dividend of equity shares, amounting to ₹6,505 Crores.

By Chanel | November 23, 2022 10:12 AM Read more
Global shortage of most-crucial fuel expected in the coming months

Reduced refining capacity of raw fuel after the pandemic and slow shifts away from fossil fuels contributed to the shortage of diesel, which is expected to impact global economies.

By Sajhyadri | November 23, 2022 10:10 AM Read more
Petronet LNG Ltd. declares special interim dividend

The public limited company announced a special interim dividend of ₹7 per share for FY23. This decision was taken at a meeting held on 9th November 2022.

By Friyana | November 23, 2022 09:47 AM Read more
Paytm’s parent company shares plummet

The stocks dropped 75% from their initial listing after market analysts at Macquarie Group Ltd. identified Jio Financial Services Ltd. to be a potential threat.

By Shivani | November 23, 2022 09:46 AM Read more
Entrepreneur First appoints its India Head, will invest 2x capital in Indian startups

The company plans to double the number of tech startups it is currently supporting and increase the investment amount to $75,000 per organisation.

By Shivani | November 22, 2022 04:21 PM Read more
Bajaj Finance raises FD interest rates by up to 25 bps

Applicable to both new openings and existing FD renewals, senior citizens can now earn a maximum annual interest of 7.95%, on deposits of up to ₹5 Crores.

By Sajhyadri | November 22, 2022 04:15 PM Read more
Airtel Payments introduced face authentication e-KYC for savings accounts

The company has rolled out this service with the help of the Unique Identification Authority of India (UIDAI) application to process the authentication of new customers.

By Friyana | November 22, 2022 04:07 PM Read more
Despite recovering, gold still under pressure from US Fed

On Tuesday, 22nd November 2022, gold prices recovered from its fall in the last session. However, traders are awaiting the US Fed’s decision regarding the upcoming rate hike.

By Aadeesh | November 22, 2022 04:04 PM Read more
13 BSE companies record more than double earnings in Q2 of FY2023

A minimum of 13 companies listed on the BSE 500 posted over double quarterly profits and roughly 50% annual growth, higher than Dalal Street’s expectations.

By Sajhyadri | November 22, 2022 03:30 PM Read more
Demand soars in liquid and ultra-short-term funds as banks pay lesser

Retail investors have lately begun moving their money from low-interest savings accounts to marginally higher-interest investments like ultra-short-term and liquid funds.

By Chanel | November 22, 2022 03:21 PM Read more
HDFC Bank aims to increase lending of EV loans as trial phase ends

Following a successful and profitable trial phase, HDFC Bank will now aim to increase the disbursement of loans for electric vehicle (EV) purchases within the next three years.

By Aadeesh | November 22, 2022 02:57 PM Read more
S&P Global Ratings upgrades Axis Bank’s issuer ratings

The US-based agency remarked that owing to a stable outlook, it anticipates that Axis Bank will be able to maintain a good quality of assets in the coming two years. This pushed its issue ratings to ‘BBB-/A-3‘ from ‘BB+/B’.

By Chanel | November 22, 2022 02:41 PM Read more
AWS launches its second infrastructure region in Hyderabad

The firm launched the AWS Asia Pacific Region in Hyderabad on 22nd November 2022. It plans to invest over $4.4 Billion in India via this infrastructure region by 2030.

By Friyana | November 22, 2022 02:14 PM Read more
Jio’s application to acquire Reliance Infratel approved by NCLT

To complete the acquisition, Reliance Project and Property Management Services Limited must deposit ₹3,720 Crores in an SBI escrow account.

By Shivani | November 22, 2022 02:09 PM Read more
Sports insurance gains traction in India with growing demand

The need for sports insurance has been growing lately, as many companies are trying to enter this segment. Indian insurers have begun restructuring their policies around this to meet these requirements.

By Aadeesh | November 22, 2022 01:58 PM Read more
Rupee reaches ₹81.65 after a 14 paise gain against the Dollar

On 22nd November 2022, the domestic currency recorded the gain in early morning trade, even as several pressure factors inhibited any further rise in the Rupee.

By Sajhyadri | November 22, 2022 01:30 PM Read more
Morgan Stanley: RBI will be forced to hike aggressively if Forex drops below $500 Billion

The firm claims that RBI used up more than $100 Billion of foreign exchange reserves since late 2021 to defend against the fall in the value of the Indian Rupee.

By Friyana | November 22, 2022 01:12 PM Read more
Essar Group sells off power plant and ports for $2.05 Billion

The company said that it has paid off its $25 Billion debt after selling off the power plant and port units to ArcelorMittal Nippon Steel India Ltd.

By Sajhyadri | November 22, 2022 12:50 PM Read more
Bob Iger to receive $27 Million annually to return as Disney CEO

Disney’s returning CEO, Bob Iger, will be given a sum of $27 Million annually along with stock options and other bonuses. He plans to reorganise the company’s structure and undo certain changes.

By Aadeesh | November 22, 2022 12:29 PM Read more
Zerodha faces difficulties in reflecting executed orders

The online broking portal that lately been facing numerous glitches and users have taken to Twitter to voice their concerns. Several have raised the issue of monetary losses incurred by traders.

By Chanel | November 22, 2022 12:27 PM Read more
BCCI launches digital payment processes for players

The Board of Control for Cricket in India will now use a Database Management System (DBMS) to process players’ fee payments in a very quick manner.

By Shivani | November 22, 2022 12:16 PM Read more
Jyotiraditya Scindia: Scrapped export taxes will aid steel industry’s growth

On 21st November 2022, Jyotiraditya Scindia stated that the recent removal of export duty on steel products will lead to the beginning of a new era in the industry.

By Friyana | November 22, 2022 12:13 PM Read more
India's benchmark market indices fall amidst weak global cues

On 21st November 2022, Nifty 50 and Sensex closed in red for the 3rd time in a row, as global economies remain apprehensive of China’s hike in COVID-19 cases.

By Sajhyadri | November 22, 2022 12:05 PM Read more
Google Pay, PhonePe, and others could impose transaction limit

NPCI and RBI may soon place a volume capping on Google Pay, Paytm, PhonePe, and other UPI payment apps in order to avoid the market concentration of such third-party providers.

By Aadeesh | November 22, 2022 11:42 AM Read more
SEBI might relax norms for IDBI public float

Following the request to relax the norms for the acquisition of IDBI Bank, the regulator might count the residual shareholding of the government, post-transaction.

By Friyana | November 22, 2022 11:36 AM Read more
Kaynes Technology India debuts in NSE, BSE

The company made its debut in the National Stock Exchange and Bombay Stock Exchange markets, listing its stocks at ₹778 and ₹775 respectively.

By Shivani | November 22, 2022 11:27 AM Read more
L&T recruits over 3,000 engineer trainees in FY23

L&T has hired thrice as many engineering trainees and quadrupled the number of woman employees in the company in the ongoing FY2023.

By Aadeesh | November 22, 2022 10:41 AM Read more
Lighthouse India to sell a ₹335 Crores stake in Nykaa via block deal

Nykaa's owner, FSN E-Commerce Ventures Limited's shares are set to be offloaded at an offering price range of ₹180 to 183.5 apiece from 22nd November 2022.

By Sajhyadri | November 22, 2022 10:40 AM Read more
Indian equities to likely continue rallying amid falling crude prices

According to analysts, declining crude and metal prices will fetch positive results for India’s inflation levels. This may prompt the Reserve Bank of India to hold off on aggressive interest rate hikes.

By Chanel | November 22, 2022 10:30 AM Read more
Shriram Housing Finance in talks of acquisition and merger

The company is actively pursuing a minor lender in the affordable housing sector but may face a challenge from mismatched valuation, according to the Managing Director, Ravi Subramanian.

By Friyana | November 22, 2022 10:25 AM Read more
New small cap scheme launched by Mahindra Manulife Mutual Fund

The New Fund Offer (NFO) was opened for purchase on Monday, 21st November 2022. It will help investors put their money in open-ended small cap equities.

By Shivani | November 22, 2022 10:20 AM Read more
Major cities in India witness around 5% hike in housing prices

According to PropTiger.com’s report, housing prices have increased by about 5% in 2022, due to rising demand and input cost hikes. The average cost of owning real estate property can now go up to ₹6,800/sq. ft.

By Aadeesh | November 22, 2022 10:09 AM Read more
Adani Group’s open offer for NDTV worth ₹493 Crores starts today

Open till 5th December 2022, the open offer, fixed at a price of ₹294 per share, is the 1st step to acquiring an additional 26% stake in the news broadcaster.

By Sajhyadri | November 22, 2022 10:05 AM Read more
Rozgar Mela: PM Modi to distribute nearly 71,000 appointment letters

On 22nd November 2022, PM Narendra Modi is set to distribute around 71,000 joining letters and address the new recruits via a video conference. The physical copies will be delivered across 45 locations.

By Chanel | November 22, 2022 10:03 AM Read more
Punjab & Sind Bank expect over ₹1,100 Crores net profit in FY23

This was forecasted amidst the resolution of bad loans. The Managing Director of the bank claims to have given ₹2,000 Crores as NPA recovery guidance for FY23.

By Friyana | November 22, 2022 09:51 AM Read more
RBI approved Canara and HDFC Bank to trade with Russia in Rupees

The Reserve Bank of India approved the banks to create special Vostro accounts, which will be used to trade with Russia in Indian Rupees.

By Shivani | November 22, 2022 09:39 AM Read more
Banks raise EBLRs by 190 bps in unison with RBI’s hike in repo rate

All banks have now raised their external benchmark-based lending rates by 190 basis points to stay in line with RBI’s repo rate hike in May 2022. However, the increase in deposit rates has witnessed a slowdown.

By Aadeesh | November 21, 2022 05:19 PM Read more
ICICI Bank launches 2 new products

To cater to their NRI consumers, ICICI Bank has launched 2 new products, the Loan Against Deposits (LAD) and Dollar Bonds at Gujarat-based GIFT City.

By Friyana | November 21, 2022 05:19 PM Read more
Bata records 47.44% YoY profit growth despite low value of stocks

The shoe retailer has also made record quarterly revenue in digital sales, amidst attempts to recover from a 52-week low trading of ₹1,607 apiece in June.

November 21, 2022 05:05 PM Read more
Federal Bank ties up with JCB India to boost financial options

The two parties signed an MoU that will help boost the bank’s loan portfolio and provide competitive lending rates to customers looking to buy JCB’s machinery.

By Sajhyadri | November 21, 2022 04:15 PM Read more
Paytm enables money transfer to any phone number with a registered UPI ID

Paytm Payment Banks Limited (PPBL) declared that users will be able to transfer money to non-Paytm accounts. If the receiver’s number is registered with a UPI ID, the transaction can be carried out.

By Friyana | November 21, 2022 04:09 PM Read more
74-year-old woman duped of ₹20 Lakhs in Pune

The retired principal was contacted by a cyber crook, who stated that if she didn’t complete the ‘Know Your Customer’ process, her account will be blocked.

By Shivani | November 21, 2022 03:35 PM Read more
Gem and jewellery exports saw roughly 15% decline in October, says GJEPC

The Gem and Jewellery Export Promotion Council (GJEPC) revealed that India witnessed a 14.64% decline in exports during October 2022, owing to limited or no manufacturing during the festive season.

By Aadeesh | November 21, 2022 02:52 PM Read more
Cyber criminals using real army personnel’s ID proof to con people

As per police officials, scammers pose as salesmen offering SIM cards at cheap rates to army personnel in cantonment areas and collect personal data from them.

By Sajhyadri | November 21, 2022 02:50 PM Read more
Government will also be held accountable for data breaches

The Digital Personal Data Protection Bill, which was announced on Friday, 18th November 2022, said that the government might hence be fined up to ₹500 Crores.

By Shivani | November 21, 2022 02:32 PM Read more
Haldiram family set to enter the stock market with a merger

The 3 brothers who run the Delhi and Napur-based entities will merge their operations, before entering the stock market with an IPO offering in the next 18 months.

By Friyana | November 21, 2022 02:31 PM Read more
Tata Motors to replace Dr. Reddy’s Labs on S&P BSE Sensex

Last Friday, Asia Index Private Limited announced that Tata Motors would replace Dr. Reddy’s Labs as per the reconstitution of S&P BSE Sensex. Shortly afterwards, their shares fluctuated in the market.

By Chanel | November 21, 2022 02:15 PM Read more
EPFO noted an increase of over 16 lakh net subscribers in September

The Ministry of Labour and Employment’s data showed a 9.14 percent increase in net membership as well.

By Shivani | November 21, 2022 01:44 PM Read more
Ward allotment at private hospitals under CGHS as per 7 CPC salary

Through an Office Memorandum, the Department of Health & Family Welfare confirmed the legitimacy of this order. This memo was prompted after receiving numerous inquiries.

By Chanel | November 21, 2022 01:37 PM Read more
FM Nirmala Sitharaman to commence pre-budget consultations from today

The Finance Minister, Nirmala Sitharaman, will begin pre-budget meetings on Monday, 21st November 2022 and primarily consult experts and leaders in climate change and infrastructure for suggestions.

By Aadeesh | November 21, 2022 01:22 PM Read more
NPCI and RBI discussing deadline to impose 30% volume cap

According to the UPI regulator, the last date to put a 30% limit on the volume cap on digital transactions via third-party app providers is 31st December 2022.

By Sajhyadri | November 21, 2022 01:00 PM Read more
Surge in Indian corporate lending indicates new investment cycle

Lending services are expanding in the local market at the fastest rate in the last 8 years in India. This signifies the start of a new investment cycle in the country.

By Friyana | November 21, 2022 12:46 PM Read more
Tech Mahindra, Mphasis, Wipro postponed employee onboarding by over a year

Some international companies such as Capgemini SE, Accenture plc, and Deloitte Touche Tohmatsu Limited, have also delayed their employee onboarding processes.

By Shivani | November 21, 2022 12:39 PM Read more
CDSL systems now online after shutdown from malware detection

Central Depository Services Ltd. stated that its systems had gone live on Sunday, after its shutdown on Friday which was caused by malware detection. No investor data was compromised in the incident.

By Aadeesh | November 21, 2022 12:34 PM Read more
Central Government planning to lower short-term borrowing costs

The Centre is looking at proposals to avoid incremental borrowing via t-bills and plans to only borrow to meet earlier repayment demands, from the next quarter.

By Sajhyadri | November 21, 2022 12:20 PM