BUSINESS
Quick Commerce sees 144% growth in mobile users in 2022: Report
According to Truecaller's Mobile User Growth Trends Report 2022, quick commerce contributed 72 per cent of traffic in Tier 1 cities, with Sundays recording the highest user traffic. However, job portals, which were the top growth category in 2021, faced pushback due to a flat job market.
Stop OpenAI from launching new GPT models: AI policy group to US FTC
The nonprofit research group Center for AI and Digital Policy (CAIDP) made public its complaint against OpenAI on Thursday, alleging the company violated Section 5 of the FTC Act, which prohibits unfair and deceptive business practices, reports CNBC. According to CAIDP, GPT-4 is "biased, deceptive, and a risk to privacy and public safety".
Government hikes interest rate of small saving schemes, maximum in Sukanya Samridhi Yojana
However, savings deposit interest rates and PPF interest rates have been kept unchanged at 4 per cent and 7.1 per cent respectively. The interest rate of Sukanya Samriddhi Yojana has been significantly hiked to 8 per cent from the existing 7.6 per cent, while interest rate of NSC has been hiked from the existing 7 per cent to 7.7 per cent.
Pakistan forex reserves fall to less than a month's import cover
In its weekly bulletin, the SBP said that its foreign exchange reserves have decreased by $354 million to $4.2 billion as of the week ended March 24, which will provide an import cover of less than a month, Geo News reported. The net forex reserves held by commercial banks stood at $5.6 billion, $1.3 billion more than the SBP, bringing the total liquid foreign exchange reserves of the country to $9.8 billion, the statement said.
Government authorises SBI to issue electoral bonds between April 3-12
According to a Finance Ministry notification issued on Friday, the electoral bonds will be valid for 15 days from the date of issue and no payment will be made to any payee political party if the bond is deposited after expiry of the validity period. The electoral bond deposited by an eligible political party in its account can be credited on the same day.
United Kingdom to join trade pact with 11 Asia and Pacific nations
Joining the group will boost UK exports by cutting tariffs on goods such as cheese, cars, chocolate, machinery, gin and whisky, the government said. However, the government's own estimates show being in the bloc will only add 0.08 per cent to the size of the UK's economy.
Index of eight core industries rises 6% in February
According to the data released by the Commerce Ministry, only the crude oil production declined by 4.9 per cent in February 2023 over February 2022. Its cumulative index declined by 1.6 per cent during April to February period of 2022-23 over the corresponding period of last year.
Aadhaar authenticated transactions jump over 13% to cross 226 crore
In February alone, 226.29 crore Aadhaar authentication transactions were executed, more than 13 per cent growth over January's 199.62 crore. Cumulatively, 9,255.57 crore Aadhaar authentication transactions have been executed so far, by the end of February 2023. While a majority of the authentications transaction numbers were carried out by using fingerprints, it is followed by demographics and OTPs.
Gold prices go up on Friday
According to Navneet Damani, Senior Vice President, Commodity Research, Motilal Oswal Financial Services, gold and silver prices witnessed profit booking after gaining by more than 1 per cent, on the back of steady dollar. "Broader trend on COMEX could be in the range of $1,970-1,995 (per troy ounce) and on domestic front prices could hover in the range of Rs 59,500-60,300 could be expected," Damani said.
Government receives dividend tranches from NPCIL, UCIL and HAL
Today is the last day of the current financial year 2022-23. Dividends and profits earned by the government from PSUs belong to the capital budget. Government also received Rs 503 crore and Rs 23 crore from HAL and Mishra Dhatu Nigam Limited (MIDHANI) respectively as dividend tranches.
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