Posts tagged Rediff
Byju’s Spectacular Meltdown (07-03-2024)
The edtech major promised a learning revolution, offering hope to millions of under-educated youth. Now, those dreams are shattered, observes Devangshu Datta.
‘Market has factored in BJP’s victory’ (07-03-2024)
'The trajectory of headline indices will be determined by the number of seats the BJP would win.'
Surprise Journey In The Mahindra XUV400 (07-03-2024)
From Mumbai to Silvassa in Daman, and back.
85% Paytm wallet users not to face disruption: RBI Guv (06-03-2024)
As many as 80-85 per cent Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts.
India to become upper middle-income country by 2031 (06-03-2024)
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
RBI’s diktat to banks for issuance of credit cards (06-03-2024)
Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card users. The central bank also asked issuers of credit cards not to enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks.
Mkts ride on banking, IT shares to close at new highs (06-03-2024)
Among the Sensex firms, Kotak Mahindra Bank, Axis Bank, Bharti Airtel, Sun Pharma, HCL Technologies, Mahindra and Mahindra, Titan and Tata Consultancy Services were the biggest gainers. UltraTech Cement, NTPC, Maruti, JSW Steel, Power Grid and Tata Motors were among the laggards.
Nothing wrong with loan process: JM Financial (06-03-2024)
JM Financial on Wednesday said it had a "careful and detailed review" of the Reserve Bank's order imposing restrictions on the company's financing business and asserted that there was "no material deficiencies" in its loan sanctioning process. The Reserve Bank on Tuesday imposed restrictions on JM Financial Products Ltd after it found the company indulged in various manipulations, including repeatedly helping a group of its customers to bid for various IPOs (initial public offerings) by using loaned funds. "After careful and detailed review of the order issued by the RBI on the action against JM Financial Products Ltd, we strongly believe that there have been no material deficiencies in our loan sanctioning process.
Broking industry adds 4mn A/Cs for 3rd month (06-03-2024)
For the third month running, investors opened over four million new demat accounts in February, showing growing household confidence in stock markets and their increased risk appetite. Over 13.12 million new demat accounts have been opened in the last three months, taking the total count close to the 150-million mark. Demat accounts are needed for trading and holding shares electronically.
Banking system liquidity goes into surplus mode (06-03-2024)
The liquidity in the banking system moved into surplus almost after three months as the Reserve Bank of India (RBI) absorbed over Rs 40,000 crore from the market on Monday, predominantly on the back of increased government spending. However, this situation may be short-lived given the higher demand for funds to pay taxes and year-end targets, treasury executives said. Meanwhile, two variable reverse repo rate (VRRR) auctions held on Tuesday received weak response.