BUSINESS
Vijay Shekhar Sharma Resigns as Chairman of PPBL; Bank's Board Undergoes Reconstitution
Last month, in response to regulatory actions, the central bank imposed restrictions on PPBL, prohibiting the acceptance of fresh deposits or top-ups in various customer accounts, including wallets and FASTags, effective initially until February 29, with an extension later granted until March 15.
Sensex Drops 352 Points Amid Profit Booking and Global Weakness
The 30-share BSE index closed at 72,790.13 points, marking a decrease of 352.67 points or 0.48 percent from the previous session's close. Among its constituents, 26 stocks experienced declines while only four managed to advance.
NITI Aayog CEO Announces India's Poverty Rate Dips Below 5%
Subrahmanyam highlighted the success of government poverty alleviation measures, citing the consumer expenditure survey as evidence. The survey segmented the population into 20 categories, revealing that the average per capita monthly expenditure across all categories was Rs 3,773 in rural areas and Rs 6,459 in urban areas.
India's Cautious Approach to Free Trade Agreements: Goyal
Goyal emphasized the importance of extensive stakeholder consultations and inter-ministerial meetings throughout trade negotiations to ensure that FTAs are fair, balanced, and beneficial for all parties involved.
India's Dedicated Funds Experience 49th Consecutive Week of Inflows
There has been a notable resurgence in small cap funds as well, with a total inflow of $280 million over the past nine months. The majority of investments into Indian funds are from US investors ($215 million), followed by Ireland ($177 million) and Japan ($124 million) investors, according to the report.
India's Economy Set to Expand by 6.4% in Third Quarter of Fiscal Year 2024
Economist Jahnavi Prabhakar stated in a report that for Q3FY24, the economy is expected to expand at a slower pace of 6.4 percent compared to 7.6 percent in Q2FY24, primarily due to muted growth in agriculture and industry. However, Prabhakar noted that the service sector is anticipated to contribute positively to overall growth.
According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year.
The report highlighted a notable increase in iPhone shipments, which grew by approximately 39 percent to 9.2 million units in the same period.
RBI Authorization: Banks Granted Permission to Issue Pre-Paid Instruments for Public Transport Payments
This move aims to enhance payment options for commuters, offering alternatives to cash payments for tickets. The introduction of these instruments is expected to bring convenience, speed, affordability, and safety through digital payment modes for transit services, according to RBI's notification.
Byju's Shareholders Vote on CEO and Family Member Removal Deemed Invalid by Company
Founder CEO Raveendran, along with his wife and brother—currently the sole members on the company's board—opted to abstain from the extraordinary general meeting (EGM) organized by a consortium of six investors holding over 32% stake in Think & Learn (T&L), the entity behind the online education platform Byju’s.
Nvidia's Robust Earnings Report Sparks Wall Street Optimism
The Dow Jones Industrial Average, a prominent blue-chip index, climbed 278 points, marking a 0.7 percent increase. Meanwhile, the broader S&P 500 index recorded a gain of 1.6 percent, and the tech-focused Nasdaq Composite surged by 2.4 percent, as reported by CNN.
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