510 days ago
PencilKey, a National Common Mobility Card (NCMC) compatible RuPay contactless keychain, was developed by Pencilton, a teen-focused finance firm.
Highlights:
PencilKey, a National Common Mobility Card (NCMC) compliant RuPay contactless keychain, has been created by Pencilton, a teen-focused fintech business, in collaboration with the National ....
512 days ago
In intra-day trading, Reliance Industries Limited has become the first Indian business to reach a market valuation of Rs 19 lakh crore.
Highlights:
On the BSE, the market heavyweight stock gained 1.85% to a new high of Rs 2,827.10 during the day. It ended the day unchanged at Rs 2,777.90, up 0.08 percent.
The company's market ....
520 days ago
Nexo, a London-based cryptocurrency lender, has teamed up with Mastercard, the world's largest payments company, to produce the world's first "crypto-backed" payment card.
Highlights:
Nexo, a London-based cryptocurrency lender, has teamed up with Mastercard, the world's largest payments company, to produce the world's ....
520 days ago
The International Monetary Fund (IMF) has lowered India's GDP growth prediction for FY23 to 8.2%.
Highlights:
In its latest World Economic Outlook report, released on April 19, 2022, the International Monetary Fund (IMF) lowered India's GDP growth prediction for FY23 to 8.2%.
This was previously predicted at 9% in a January ....
520 days ago
According to a World Bank's Policy Research Working Paper, India's excessive poverty rate has decreased from 22.5 percent in 2011 to 10.2 percent in 2019.
Highlights:
According to a World Bank's Policy Research Working Paper, India's extreme poverty rate has decreased from 22.5 percent in 2011 to 10.2 percent in 2019.
Between ....
520 days ago
Due to increased electricity prices and rising edible oil prices, India's wholesale price index (WPI) based inflation surged to 14.55 percent in March.
Highlights:
Due to increased electricity prices and rising edible oil prices, India's wholesale price index (WPI) based inflation surged to 14.55 percent in March.
Due to ....
522 days ago
The Prime Ministers' Museum has chosen Paytm as its official digital payment partner. Its payment gateway and EDC (Electronic Data Capture) equipment are available.
Highlights:
The Prime Ministers' Museum has chosen Paytm as its official digital payment partner.
Its payment gateway, EDC (Electronic Data Capture) equipment, ....
529 days ago
In Bengaluru, Karnataka, IT giant Infosys and premier industrial technology business Rolls-Royce have launched a combined "aerospace engineering and digital innovation facility."
Highlights:
In Bengaluru, Karnataka, IT giant Infosys and premier industrial technology business Rolls-Royce have launched a combined "aerospace ....
532 days ago
Hindustan Aeronautics Limited (HAL) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU) to convert civil passenger aircraft to Multi-Mission Tanker Transport (MMTT) aircraft in India.
Highlights:
Hindustan Aeronautics Limited (HAL) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding ....
532 days ago
The Gujarat government's Mission School of Excellence initiative, which aims to improve education quality in the state, will receive a loan worth Rs 7,500 crore from the World Bank and the Asian Infrastructure Investment Bank (AIIB).
Highlights:
The Gujarat government's Mission School of Excellence initiative, which aims to improve ....
532 days ago
India's trade imbalance surged by 87.5 percent to $192.41 billion in 2021-22.
Highlights:
India's trade imbalance surged by 87.5 percent to $192.41 billion in 2021-22, up from $102.63 billion the previous year, according to government data. Last fiscal year, overall exports reached a record high of $417.81 billion, while imports ....
533 days ago
India's economy is expected to rise by 7.5 percent this fiscal year before increasing to 8%.
Highlights:
South Asian economies are expected to grow at a collective rate of 7% in 2022, according to the Asian Development Bank, with India's most significant economy rising at 7.5% this fiscal year before increasing to 8% the following ....
534 days ago
In March, the highest ever GST was collected, which is very positive for the economy. The GST collection hit a new high of Rs 1,42,095 crore, surpassing the previous high of Rs 1,40,986 crore achieved in January 2022.
Highlights:
In March, the highest ever GST was collected, which is very positive for the economy. The GST collection hit ....
535 days ago
HP has finalized its $1.7 billion all-cash acquisition of Poly, worth $3.3 billion when debt is taken in.
Highlights:
HP has finalized its $1.7 billion all-cash acquisition of Poly, worth $3.3 billion when debt is taken in.
Poly makes office communication devices like headsets and AV conference room equipment like desk phones and ....
536 days ago
India's GDP is expected to expand by 7.4% in the fiscal year 2022-23, according to FICCI (Federation of Indian Chambers of Commerce and Industry) (FY23).
Highlights:
India's GDP is expected to expand by 7.4% in the fiscal year 2022-23, according to FICCI (Federation of Indian Chambers of Commerce and Industry) (FY23).
On ....
541 days ago
The growth prediction for India's GDP in 2022-23 (FY23) has been cut to 7.2 percent by the rating agency ICRA.
Highlights:
The growth prediction for India's GDP in 2022-23 (FY23) has been cut to 7.2 percent by the rating agency ICRA. Previously, this rate was 8%. The ICRA Ltd. forecasts 8.5 percent GDP growth for 2021-22 (FY22), which ....
541 days ago
Multiplex companies INOX Leisure Ltd and PVR Ltd have announced the merger of their two companies.
Highlights
Multiplex companies INOX Leisure Ltd and PVR Ltd have announced the merger of their two companies.
Inox will have a 16.66% stake within the new firm, and PVR will have a 10.62% stake. After the formalities of the merger, the corporate ....
545 days ago
The Pension Fund Regulatory and Development Authority has given FinMapp, a financial services company, a licence under the National Pension Scheme.
Highlights:
The Pension Fund Regulatory and Development Authority has given FinMapp, a financial services firm, a licence under the National Pension Scheme (PFRDA).
The Insurance Regulatory ....
546 days ago
ONDC, an open public digital infrastructure framework, has been purchased by HDFC Bank, Kotak Mahindra Bank, and Axis Bank, each with a 7.84 percent ownership.
Highlights:
ONDC, an open public digital infrastructure framework, has been purchased by HDFC Bank, Kotak Mahindra Bank, and Axis Bank, each with a 7.84 percent ownership.
On ....
546 days ago
CreditVidya and Flipkart Wholesale have partnered with each other to provide BNPL credit to Merchants.
Highlights:
CreditVidya, a lending platform, and a digital B2B BNPL solution have partnered with Flipkart Wholesale to offer an 'Embedded Buy Now, Pay Later' credit solution to the 1.5 million merchants on the Flipkart Wholesale ....
548 days ago
In its Global Economic Outlook-March 2022, Fitch Ratings lowered India's GDP growth prediction for fiscal FY 2022-2023 to 8.5 percent.
Highlights:
In its Global Economic Outlook-March 2022, Fitch Ratings lowered India's GDP growth prediction for fiscal FY 2022-2023 to 8.5 percent.
This percentage was previously expected ....
548 days ago
On March 21, PhonePe, a digital payments, and financial services startup, announced the acquisition of GigIndia, a Pune-based network for independent micro-entrepreneurs.
Highlights:
GigIndia, a network for independent micro-entrepreneurs based in Pune, has been bought by PhonePe, a digital payments and financial services firm.
As ....
552 days ago
Due to the negative consequences of the Russia-Ukraine conflict, Moody's has lowered India's economic growth prediction by 40 basis points to 9.1% in Calendar Year 2022 (CY2022).
Highlights:
Due to the negative consequences of the Russia-Ukraine conflict on the global economy, Moody's has cut India's economic growth prediction ....
553 days ago
Bharat Serums and Vaccines has purchased a 26% share in AMP Energy C&I One to help meet the company's green energy.
Highlights:
Bharat Serums and Vaccines has purchased a 26% share in AMP Energy C&I One to help meet its green energy needs at its Ambernath, Maharashtra, manufacturing site.
This investment, which aims to ....
553 days ago
For the first time, in data on market capitalization, India's equities market has entered the world's top 5 in terms of market capitalization.
Highlights
As per Bloomberg's recent data on market capitalization, India's equities market has entered the world's top 5 in terms of market capitalization for the first time.
India ....
555 days ago
Larsen & Toubro (L&T) has established the L&T-SuFin e-commerce platform. it's the country's first complete e-commerce platform for industrial products
Highlights
Larsen & Toubro (L&T) has established the L&T-SuFin e-commerce platform.
The platform's transaction cost is roughly 1.5 percent.
Through its ....
555 days ago
IIFL Securities Limited (Formerly India Infoline Limited) launched 'OneUp,' India's first primary markets investment platform.
Highlights
IIFL Securities Limited (Formerly India Infoline Limited) launched 'OneUp,' India's first primary markets investment platform.
Through this platform, investments are often made in ....
557 days ago
Employees Provident Fund Organisation (EPFO), the retirement fund authority, has lowered the interest rate on provident fund deposits to 8.10 percent for 2021-22.
Highlights:
Employees Provident Fund Organisation (EPFO), the retirement fund authority, has lowered the interest rate on provident fund deposits to 8.10 percent for 2021-22.
This ....
559 days ago
Domestic rating agency CRISIL retained its actual GDP growth forecast at 7.8% for the fiscal year 2023, compared with the 8.5% projected in the Economic Survey.
Highlights
Domestic rating agency CRISIL retained its actual GDP growth forecast at 7.8% for the fiscal year 2023, compared with the 8.5% projected in the Economic Survey.
FM Nirmala ....
573 days ago
The Federal Reserve Bank of India (RBI) announced a two-year sell-buy swap auction for US Dollar/Rupee.
Highlights
The Federal Reserve Bank of India (RBI) has announced a US Dollar/Rupee two-year sell-buy swap auction to elongate the maturity profile of its forward book and smoothen the receivables concerning forwarding assets.
The financial ....
573 days ago
Moody's has revised India's economic growth estimates within the Current Year 2022 upwards to 9.5 percent.
Highlights
Moody's has revised India's economic growth estimates within the Current Year 2022 upwards to 9.5 percent from 7 percent on stronger than expected recovery after a lockdown in 2020 and Covid-19's delta rhythm ....
575 days ago
Angadia system is a century-old parallel banking system in India.
Highlights
In this, traders send cash from one state to a different through an individual called Angadia. Angadia stands for courier.
In this system, colossal cash is involved. It becomes the responsibility of Angadia to transfer cash from one state to a different. For this ....
582 days ago
Central Government cut tax on crude palm oil imports (CPO) from 7.5 percent to five percent, which came into effect on February 13, 2022.
Highlights
India is the world's biggest edible oil importer. It tries to rein in local commodities prices and help domestic consumers and refiners.
The tax reduction is also called "agriculture ....
595 days ago
During her Budget 2022 speech on February 1, 2022, the Finance Minister the creation of the "DESH-Stack e-portal."
Highlights:
Because stakeholders have been flagging the rising skill gap throughout the job market, the announcement to set up a DESH-Stack online skilling platform and the overall focus of the Budget on skilling is attracting ....
598 days ago
Nirmala Sitharaman, the Union Finance Minister, presents the Union Budget 2022 for the fourth time.
Highlights:
Nirmala Sitharaman, the Union Finance Minister, presents the Union Budget 2022 for the fourth time.
She will give the fiscal year 2022-23 financial results and tax suggestions (April 2022 to March 2023).
As Union Finance Minister ....
599 days ago
On the 31st of January 2022, Finance Minister Nirmala Sitharaman presented the Economic Survey 2021-22 to the Parliament.
Highlights:
On the 31st of January 2022, Finance Minister Nirmala Sitharaman presented the Economic Survey 2021-22 to the Parliament.
The pre-budget Economic Survey is a document that is presented to Parliament prior ....
603 days ago
On January 25, 2022, the International Monetary Fund (IMF) published its World Economic Outlook.
Highlights:
According to the analysis, global economic growth will be half a percentage point lower than previously projected.
The rate of growth will slow from 5.9% in 2021 to 4.4 percent in 2022. In 2023, it will drop even lower to 3.8 percent.
According ....
620 days ago
Mr. Patel will serve a three-year tenure as one of the multilateral development bank's five vice presidents, succeeding former Gujarat Chief Secretary D.J. Pandian, who led the AIIB's investment operations as well as all sovereign and non-sovereign loans in South and Southeast Asia as Vice President.
Highlights:
♦Since its establishment ....
631 days ago
ICRA, a rating agency, recently revised its estimate of India's GDP growth.
Highlights:
According to ICRA, there was a 7.9% increase in the second quarter of the fiscal year 2021-22.
The second-quarter GDP growth estimate was upgraded due to an increase in government spending in September.
The real GDP growth rate for July-September ....
657 days ago
Prime Minister Narendra Modi will launch the InFinity Gathering, a thought leadership forum on FinTech, through video conferencing on December 4, 2021 at 10 a.m.
Highlights:
♦On December 3 and 4, 2021, the International Financial Services Centres Authority (IFSCA), under the supervision of the Government of India, will organise the event in ....
657 days ago
Prime Minister Narendra Modi will launch the InFinity Gathering, a thought leadership forum on FinTech, through video conferencing on December 4, 2021 at 10 a.m.
Highlights:
♦On December 3 and 4, 2021, the International Financial Services Centres Authority (IFSCA), under the supervision of the Government of India, will organise the event in ....
665 days ago
Moody's Investors Service stated on November 25, 2021, that India's growing vaccination rate, strong public expenditure, and cheap borrowing rates are supporting the optimistic outlook for the business sector and non-financial enterprises.
Highlights:
Moody's now predicts that India's economic growth will accelerate. In the ....
669 days ago
The Economic Advisory Council of the Prime Minister (EAC-PM) convened in New Delhi on November 18 to review India's development prospects.
Highlights:
♦ Looking beyond the current fiscal year, EAC-PM members were optimistic about real and nominal growth estimates for Fiscal Year 2022-2023. (FY21-22).
♦ Because of openness and reality, ....
671 days ago
Domestic taxes cannot be assessed if a corporation does not have a presence in India, according to a tax tribunal, providing much-needed clarity for companies that earn money through advertising.
Highlights:
♦ESPN, the sports channel, vs. the tax authorities were the subject of the tax tribunal's decision.
♦ESPN cannot be taxed ....
671 days ago
The Reserve Bank of India (RBI) has provided updated data on foreign exchange reserves. The country's foreign exchange reserves fell by $ 763 million to $ 640.112 billion in the week ending November 12, according to new figures.
Highlights:
♦In the week ending November 5, foreign exchange reserves fell by USD 1.145 billion to USD 640.874 ....
728 days ago
Union Minister, Shri Piyush Goyal, launched the “National Single Window System” for Investors and Businesses on 22 September.
Highlights:
♦ National Single Window System is a giant step towards making India Aatmanirbhar.
♦ This system will usher in independence from the legacy of running towards Government offices for approvals ....
730 days ago
India may become the world’s third-largest importer by 2050, according to a document launched by the UK’s Department of International Trade.
Highlights:
♦ With a 5.9 per cent share of international imports by 2050, the country will turn out to be the third-largest importer, following China and the United States.
♦ At present, ....
730 days ago
India will resume the export of COVID-19 vaccines under its ‘Vaccine Maitri’ programme to fulfil the commitment in the direction of COVAX (COVID-19 Vaccines Global Access).
Highlights:
♦ The COVAX software is led by the vaccine alliance GAVI, WHO and the Coalition for Epidemic Preparedness Innovations (CEPI) in partnership with ....
734 days ago
Power Finance Corporation Ltd (PFC) has effectively issued its maiden Euro 300 million 7-year Euro Bond issuance.
Highlights:
♦ State-run electricity sector lender PFC grew to be the first Indian entity to launch Euro-denominated inexperienced bonds with a €300-million (about $352 million) issuance that was once oversubscribed 2.6 times ....
736 days ago
In August, the wholesale price inflation rate rebounded to 11.39%, maintaining double digits for the fifth consecutive month.
Highlights:
♦ Inflation in manufactured products: 11.4%
♦ Inflation in manufactured products: 26.1%
♦ Food price inflation: 3.43%
♦ LPG, diesel inflation and petrol: 48.1%, 50.7% and 61.5% respectively