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Last Updated: April 30, 2022

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  • A Startup Pencilton introduces a contactless RuPay card in the form of a keychain.

    26 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 ....

    Reliance Industries Is Now The First Indian Company To Reach Rs 19 lakh Market-cap.

    28 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 ....

    Nexo And Mastercard Partnered To Launch Worlds 1st Crypto-Based Payment Card

    37 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 ....

    India's GDP Growth For FY23 Decreased To 8.2% As Per IMF

    37 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 ....

    Extreme Poverty in India Declined by 12.3% According To World Bank Report

    37 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 ....

    Wholesale Price Index Based Inflation Increase To 14.55% In March

    37 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 ....

    Paytm Becomes The Official Digital Payments Partner To Pradhanmantri Sangrahalaya

    38 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, ....

    Rolls-Royce And Infosys Introduced Aerospace Engineering and Digital Innovation Centre

    46 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 ....

    HAL and Israel Aerospace Together Going To Convert Airplanes Into Mid-air Refuellers

    48 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 ....

    World Bank And AIIB To Provide Rs 7,500 Cr Loan To Gujarat Government

    48 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 ....

    India's Trade Deficit Rises 88% In FY22 According To Reports By GoI

    48 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 ....

    India's Economy Estimated To Grow By 7.5% In FY23 By ADB

    49 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 ....

    Indian Govt Collected Their Highest Rate Of Rs 1.42 Lakh Crores Of GST In March

    50 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 ....

    HP Acquires Poly To Become Full-Service Hybrid Work Ecosystem Provider

    51 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 ....

    India's GDP Growth Rate For FY23 Estimated To Be 7.4% By FICCI

    52 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 ....

    ICRA forecasts India's GDP Growth To Be 7.2% For Next Year

    57 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 ....

    PVR & INOX Leisure Merger

    58 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 ....

    FinMapp Gets Licence To Sell NPS, Insurance From PFRDA And IRDAI

    62 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 ....

    ONDCs Stake Of 7.84% Acquired By Three Private Banks Each

    62 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 ....

    Flipkart And CreditVidya Partners To Offer BNPL Credit To Merchants

    62 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 ....

    Indias FY23 Growth Forecast Reduced To 8.5% By Fitch Ratings

    64 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 ....

    Freelance Entrepreneur GigIndia Acquired By PhonePe

    64 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 ....

    India's GDP Forecast For CY22 Reduced To 9.1% By Moody

    69 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 ....

    Bharat Serums Acquires Twenty-six Percent Stake In Solar Power

    69 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 ....

    India In World Top 5 Club Of Market Capitalization

    70 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 ....

    SuFin: L&T Launches An MSMEs e-Commerce Platform

    72 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 ....

    OneUp: Primary Markets Investment Platform

    72 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 ....

    Interest Rates On PF Deposits Reduced To 8.1%

    73 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 ....

    India's Projected GDP Growth Forecast At 7.8% By CRISIL

    76 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 ....

    Moody's: India's Growth Estimates To 9.5% In CY2022

    90 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 ....

    Dollar/Rupee Two-Year Sell-Buy Swap Auction Announced By RBI

    90 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 ....

    What Is Angadia System?

    91 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 ....

    Crude Palm Oil Imports Tax Cut

    99 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 ....

    DESH-Stack e-portal Announced In Budget 2022

    112 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 ....

    Union budget 2022-23 By Nirmala Sitharaman

    114 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 ....

    Economic Survey 2022 Highlights

    115 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 ....

    World Economic Outlook By IMF

    120 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 ....

    Urjit Patel Appointed Vice President of Asian Infrastructure Investment Bank

    136 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 ....

    Indian GDP Growth ICRA Forecast

    147 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 ....

    PM Inaugurates InFinity Forum, a Thought Leadership Forum At FinTech

    173 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 ....

    PM Inaugurates InFinity Forum, a Thought Leadership Forum At FinTech

    173 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 ....

    Indias Economic Growth Projected By Moodys Projection

    181 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 ....

    Economic Advisory Council On Indias Growth Forecast

    185 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, ....

    Taxes Cant Be Levied If a Company Doesnt Have Any Presence In India ITAT

    187 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 ....

    Foreign Exchange Reserves Decline By USD 763 Million to USD 640.112 Billion

    187 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 ....

    Union Minister Piyush Goyal Launched National Single Window System for Investors and Businesses

    245 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 ....

    India to be 3rd Largest Importer by 2050 - Department of International Trade

    247 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, ....

    India to Resume Vaccine Export

    247 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 ....

    PFC Issues EuroBond Issuance

    251 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 ....

    WPI Inflation Rebounded

    253 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

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