India is well on its way to becoming one of the leading markets in terms of the fintech landscape, with more than 2100 fintech firms in operation, according to a statement made by the country’s Commerce and Industry Minister at the Global Fintech Fest 2021. What exactly is fintech? Fintech is the intersection of technology …
On Thursday, the Comptroller and Auditor General of India (CAG) announced numbers relating to the fiscal deficit for the period starting from 1st April 2021 up to August 30, 2021. Out of the total fiscal deficit planned for the whole year, April to August total reached only close to 31% as per the reports. In …
An Overview Increased software services revenue and inward contributions from diaspora Indians overseas enabled the current account in the balance of payments to end in a positive for the quarter ended June’21, countering a significant increase in the petroleum import tariff. In addition, the economic slowdown brought on by the 2nd lockdown during the quarter …
An Overview Changes to the auto debit rule enforced by the Reserve Bank of India (RBI) will take effect on October 1. Customers who use their debit card for recurring transactions will benefit the most from the adjustment. All standing instructions on cards will be ignored after the revisions. What will the modifications entail? All …
An Overview The International Monetary Fund warned on Friday that the introduction of digital currencies in emerging areas might lead to the “cryptoization” of local economies, eroding exchange and capital regulations, and disrupting financial stability. According to U.S. blockchain researchers, bitcoin and other coins have skyrocketed in price and popularity in the previous year, with …
Surge in FPI inflows Foreign portfolio investors (FPIs) were net buyers in domestic markets in the month of August, the overwhelming majority of which was in the debt instruments. They put in just 2,082.94 crore in equities, while they put in 14,376.2 crore in debt between August 2-31, according to depositories data. So far this …
An Overview Shares of Reliance Industries (RIL) set a new all-time high of Rs 2,477.70 and are up 4% on the BSE in early morning sessions on Monday. After market hours on Friday, the company announced that its subsidiary had purchased a majority stake in Strand Life Sciences Pvt Ltd’s genomic testing business for Rs …
On Monday, 6 September 2021, the IT major Infosys announced that it had almost completed its shares buyback program. Earlier, the Infosys board had approved an Rs. 9,200 crores buyback program to commence from 25 June, buying back shares at a maximum price of Rs. 1,750 apiece. The buyback committee will meet again on 8 …
2020 saw the stocks of Pharma companies rise as the pandemic struck India. This has led to the Pharma sector recovering from its earlier stagnant performance. Presently, in 2021, it continues to be one of the best-performing sectors. Moreover, Pharma companies have been doing well as the demand for immunity boosters and life-saving drugs takes …
HDFC Life Insurance Company has decided to convene an extraordinary general meeting (EGM) on 29 September 2021, seeking shareholder’s approval for the Exide deal. Under this Rs. 6,687 crores deal, HDFC Life, will acquire 100% share capital of Exide Life after paying the promoter Exide Industries Rs. 725.98 crores in cash. This EGM will be …
