Posts tagged Rediff
From Feb 29 you can’t top up Paytm wallet, FASTag etc (31-01-2024)
The RBI on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others after February 29, 2024.
Ahead of interim Budget, Sensex gains 612 points (31-01-2024)
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead -- the interim budget and the US Fed interest rate decision -- to derive further cues from. Recovering all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11.
Mobile phones to cost less as govt cuts import duty (31-01-2024)
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
FPI lobby flags concerns on T+0 settlement cycle (31-01-2024)
Asia Securities Industry and Financial Markets Association (Asifma) has raised concerns about the Securities and Exchange Board of India (Sebi) proposal to introduce a T+0 settlement cycle. The industry association of top foreign portfolio investors (FPIs) has stated that this move could give rise to several issues, including the bifurcation of the market, liquidity fragmentation, and deterioration of market quality. In a discussion paper floated last month, Sebi has proposed a separate same-day settlement cycle that will run parallel to the existing T+1 cycle, where trades are settled the next day.
FPI lobby flags concerns on T+0 settlement cycle (31-01-2024)
Asia Securities Industry and Financial Markets Association (Asifma) has raised concerns about the Securities and Exchange Board of India (Sebi) proposal to introduce a T+0 settlement cycle. The industry association of top foreign portfolio investors (FPIs) has stated that this move could give rise to several issues, including the bifurcation of the market, liquidity fragmentation, and deterioration of market quality. In a discussion paper floated last month, Sebi has proposed a separate same-day settlement cycle that will run parallel to the existing T+1 cycle, where trades are settled the next day.
Bajaj confident to try 2-wheelers running on CNG (31-01-2024)
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
ICICI Bank stock shines in a dull market on good Q3 (31-01-2024)
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
Railways clocks 2nd-highest freight earnings since ’19 (31-01-2024)
The Indian Railways carried more goods in December 2023 than the same time last year, making more money than any month bar one since the pandemic. The railways made Rs 15,098 crore by carrying freight in December 2023. The number was higher only in March 2023 when it earned Rs 15,769 crore, according to data from the Centre for Monitoring Indian Economy (CMIE).
Nirmalaji, What Surprises Can We Expect? (31-01-2024)
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
Sony gets 3 weeks to respond to Zee shareholder’s plea (30-01-2024)
The National Company Law Tribunal (NCLT) on Tuesday admitted a fresh petition filed by a Zee Entertainment Enterprises Ltd shareholder seeking enforcement of the now-cancelled merger deal between ZEEL and Sony. The Mumbai bench of NCLT also directed Sony Pictures Network India, now known as Culver Max, to file a reply within three weeks and fixed the next date of hearing on March 12. On January 21, Sony Group Corp (SGC), the Japanese parent company of Sony Picture Network India (SPNI) and BEPL, announced the termination of the $10 billion merger agreement with ZEEL, while seeking $90 million for breach of conditions besides initiating arbitration.