MGID has partnered with Mirchi to expand native advertising in India. By using Mirchi’s digital ad network, they plan to offer high-impact ad formats. This collaboration aims to provide personalised and engaging ad solutions for Indian brands. MGID’s technology will be combined with Mirchi’s local market expertise in over 60 cities.
Posts in category Economic Times
Small finance banks’ reliance on high-cost deposits a concern: RBI (30-09-2024)
The Reserve Bank of India has voiced concerns about small finance banks’ over-reliance on high-cost term deposits and potential defaults due to inadequate credit underwriting. RBI also highlighted cyber threats, poor customer service, and high charges, stressing the need for robust underwriting to mitigate risks.
SpaceMantra pulls out resolution plan for Future Lifestyle (30-09-2024)
SpaceMantra withdraws its ₹490 crore bid for Future Lifestyle Fashions days before winning creditors’ vote, citing delays and value erosion. Creditors, including lead lender SBI, face hurdles in recovery as the consortium fails to comply with payment obligations, risking only the ₹2 crore deposit.
Deposit rates may stay elevated despite slower credit growth (30-09-2024)
Deposit growth is currently outpacing credit expansion. Although a policy rate cut is expected in the second half of the fiscal year, bank deposit rates are likely to stay high for now. This is due to the slow pace of deposit mobilisation and the need for capital to fund private capital expenditure, which is on the rise.
Ahead of Market: 10 things that will decide D-Street action on Tuesday (30-09-2024)
Indian equity indices Sensex and Nifty50 registered their steepest drop in two months due to profit booking and weak Asian markets, breaking below key support levels. Analysts highlight potential further weakness with key support at 25,750 and resistance at 26,000. The bearish sentiment affected both major and smaller stocks.
Sebi board meeting: Nothing on F&O regulation, but top 7 other announcements (30-09-2024)
Despite expectations, SEBI has decided not to curb weekly F&O expirations or raise minimum contract sizes for now. This comes as the regulator grapples with a surge in speculative trading that has cost retail investors Rs 1.81 lakh crore over the past three years.
Sebi board meet: Rights issue to be completed within 23 working days (30-09-2024)
Sebi has approved new norms for a faster rights issue process. The timeline is now reduced to 23 working days, compared to the current average of 317 days. The changes allow flexibility for allotment to specific investors and give an opportunity to existing shareholders. The discontinuation of certain requirements aims to streamline the process.
Sebi enhances scope of T+0 settlement cycle, approves eligible scrips to top 500 companies (30-09-2024)
Sebi reviewed the performance of the Beta version of T+0 settlement cycle and will increase the eligible trading scrips to the top 500 companies. This will be done in phases. FPIs and Mutual Funds will have access. An optional block deal window mechanism will be introduced. The current T+1 settlement cycle will continue.
Tata Steel ceases operations at Port Talbot in UK (30-09-2024)
Tata Steel has stopped steel production at Port Talbot in the UK, closing the blast furnace and related plants. The company plans to invest £1.25 billion in an electric arc furnace, with government support. This transition will resume production by 2027-2028, ensuring a greener future and sustaining over 5,000 jobs while cutting 2,800 positions.
Sebi board approves MF Lite framework for passive schemes (30-09-2024)
Sebi has approved the introduction of the Mutual Funds Lite (MF Lite) framework for passively managed schemes. This framework reduces eligibility criteria for sponsors and compliance requirements. Existing AMCs can manage active and passive schemes separately. The new regulations aim to encourage new players, enhance market liquidity, and foster innovation in the mutual fund sector.