Credit growth slows, gold loans boom, credit card debt mounts

As of June 30, 2024, India’s overall non-food credit growth experienced a decline, falling to 13.9% with a total of Rs 163.46 lakh crore, down from 16.3% a year earlier.

SOUTH INDIANS EMBRACE GOLD, STOCKS AMID FD DECLINE

The survey reveals a shift in South Indian investment preferences from traditional gold to stock market investments, driven by increased financial literacy and higher disposable incomes

Ransomware cripples hundreds of Indian banks

The National Payments Corporation of India (NPCI) reported on Wednesday that C-Edge Technologies Ltd, a technology service provider primarily serving cooperative banks and regional rural banks (RRBs), has likely been affected by a ransomware attack.

INFOSYS DISPUTES RS 32,403 CRORE GST DEMAND

Infosys argues that GST should not apply to overseas branch expenses, citing a recent regulatory circular, and asserts compliance with all GST regulations, including settling dues

Adani Enterprises to demerge food FMCG unit, posts strong Q1 profit

The board of directors of Adani Enterprises has approved the demerger of its food FMCG business to Adani Wilmar Limited, alongside a strategic investment in Adani Commodities LLP.

ITIs get budget boost: Centre, States must join forces for job creation

In her July 23 speech, Finance Minister Nirmala Sitharaman prioritized “employment and skilling” second only to agriculture in the Union Budget, marking a significant shift by focusing on upgrading Industrial Training Institutes (ITIs) and job creation schemes.

How the budget turned a Modi supporter into a critic battling 'BJP Trolls'

In February, D. Muthukrishnan, a certified financial planner (CFL) and staunch supporter of Prime Minister Narendra Modi and the BJP, posted on ‘X’ about his political aspirations.

RBI seeks to replace SMS OTP with newer authentication methods

The Reserve Bank of India (RBI) has unveiled a draft framework introducing alternative authentication mechanisms to complement the existing SMS-based One-Time Password (OTP) system for digital payment transactions.

INDIAN MAP MARKET HEATS UP AS GOOGLE TAKES ON LOCAL CHALLENGERS

The digital maps market in India is witnessing a fierce competition among Google Maps, MapMyIndia, and Ola Maps, each trying to outmanoeuvre the others to gain control of the lucrative digital mapping and navigation market in the country

Adani energy secures $1 billion through QIP

Adani Energy Solutions, the power transmission arm of the Adani Group, has successfully raised $1 billion (over Rs 8,300 crore) through a qualified institutional placement (QIP) issue.

COACHING CENTRE DEATHS: HC PULLS UP AUTHORITIES, SLAMS FREEBIES CULTURE

HC directed the authorities to remove all encroachments on drains in the Rajinder Nagar area by Friday.

Govt to bring law to regulate coaching centres: Atishi

The Delhi government will bring a law to regulate coaching centres in the national capital, cabinet minister Atishi said on Wednesday, days after three IAS aspirants drowned in the flooded basement of an institute in Old Rajinder Nagar.

PMLA CASE: SC GRANTS BAIL TO MONEY LAUNDERING ACCUSED CONSIDERING AGE AND CUSTODY PERIOD

The Supreme Court in the case Ramkripal Meena Versus Directorate of Enforcement observed and has granted bail to Ramkripal Meena, who is being accused of leaking and distributing question papers of the Rajasthan Eligibility Examination for Teachers, 2021, REET for a payment for an amount of Rs.1.20 crores.

New Rajasthan BJP Chief Rathore meets Home Minister Amit Shah

The BFP recently announced new state chiefs for Bibar and Rajasthan, along with new state in-charges and co-in-charges.

KERALA GOVERNOR CALLS LOSS OF LIVES IN WAYANAD LANDSLIDES A 'COLOSSAL TRAGEDY'

Raj Bhavan said, “Governor Arif Mohammed Khan, appealed to the people all over the country to help the landslide hit people of Wayanad”.

INDIA'S YOUTH BULGE: A TICKING TIME BOMB

India’s demographic dividend, once a symbol of hope, is now marred by tragic losses and systemic failures, as recent incidents of student deaths reveal the severe neglect and peril faced by aspiring youth

VIETJET EXPANDS NETWORK WITH AHMEDABAD-DA NANG ROUTE

Vietjet Air is set to enhance tourism between Vietnam and India with new Ahmedabad-Da Nang flights and aims to increase passenger traffic to over 1.5 million this year

ADANI POWER SALES SURGE 38%

Adani Power’s financial surge, marked by a 30% revenue increase and a 53% boost in EBITDA, reflects its strategic investments in three major Ultrasupercritical projects to capitalize on rising thermal power demand

Trade Minister criticizes pvt. sector, calls for better cooperation on FTAs

Union Minister of Commerce and Industry, Piyush Goyal, has criticized the private sector for prioritizing self-interests over cooperation with the government.

GDP metric hinders crisis response, experts warn

In her 2024 Union Budget speech, Finance Minister Nirmala Sitharaman stated, “From 2026-27 onwards, our endeavour will be to keep the fiscal deficit each year such that the Central Government debt will be on a declining path as a percentage of GDP.”

Income Tax Act overhaul aimed at simpler, smoother taxation: Revenue Secretary

Government Committed to Simplifying Income-tax Act, New Tax Code on the Horizon In a significant development, Revenue Secretary Sanjay Malhotra has revealed that the government is dedicated to simplifying the Income-tax Act, with a comprehensive review currently underway.

SEBI proposes changes to curb derivatives speculation

The Securities and Exchange Board of India (SEBI) has proposed several measures to mitigate the “hyperactivity” in India’s derivatives market, following concerns over substantial trading losses among retail investors.

NITIN GADKARI APPEALS TO FINANCE MINISTER TO ABOLISH 18% GST ON INSURANCE PREMIUMS

The Union’s primary concern is the 18% GST on life and medical insurance premiums, which they argue effectively taxes life’s uncertainties and diminishes the incentive for people to invest in insurance

Budget 2024: Census, Privatisation Omitted Amid Political Calculus

A week has passed since the announcement of Budget 2024, with most politicaleconomic commentary highlighting the focus on projects in Andhra Pradesh and Bihar.

Digitalisation Can Expose Consumers To Impulsive Spending, Data Breaches: RBI Report

The RBI report highlights that while digitalisation enhances financial accessibility, it also introduces risks such as impulsive spending, herd behaviour, and rising data breaches, which can threaten financial stability

Why India's Fervour For Kamala Harris Is Fading And The Rise Of Surveillance Infrastructure

Recent developments have highlighted two significant trends in India: the cooling of enthusiasm for Kamala Harris and the expansion of the country’s surveillance infrastructure.

Ola Electric to raise over Rs 6,100 crore in IPO priced at Rs 72-76 per share

Ola Electric Mobility, a leading player in India’s electric scooter market with a 39% share, has announced its initial public offering (IPO) at a reduced price band of Rs 72-76 per share, significantly lower than earlier projections.

Modi's disregard for opposition CMs exposed: Niti Aayog boycott signals rising pushback

At the recent Niti Aayog meeting in New Delhi, dramatic scenes unfolded as West Bengal Chief Minister Mamata Banerjee walked out in protest after her microphone was turned off.

LG inaugurates 320 new e-buses along with Kailash Gahlot

Delhi Lieutenant Governor (LG) VK Saxena, along with Delhi Transport Minister Kailash Gahlot, inaugurated 320 new electric buses on Tuesday.

I.N.D.I.A BLOC PARTIES RALLY AT JANTAR MANTAR, DEMAND KEJRIWAL'S RELEASE

Many of the opposition bloc leaders accused the Centre of obstructing the work of the Delhi govt