BUSINESS
Financial literacy poor across urban, rural population in country: RBI survey
However, in what can be termed as a revelation, according to a pan-India "Financial Literacy and Inclusion survey" conducted by the Reserve Bank of India (RBI), digital banking awareness and knowledge among rural and urban population across the country is at par with each other, with the average being 11.7 for both segments on a score of 21.
China's Covid wave hits factories and consumer market
Since the world's second largest economy drastically eased its Covid restrictions earlier this month, there has been no clear data on the extent of the virus' spread on the national level. But several cities and provinces have said they were seeing tens of thousands of new cases per day, CNN reported.
Mother Dairy hikes milk price by Rs 2 per litre, starting Tuesday
Mother Dairy, which is a major supplier of milk in Delhi-NCR, has increased price for the 5th time this year, with prior hikes recorded in the months of March, August, October and November.The price of a litre of full cream milk will now be Rs 66, while toned milk will be sold at Rs 53 per litre.
LIC Housing Finance loans turns costlier
According to LIC Housing, PLR is the benchmark rate to which the interest rate on its loans is linked. The new interest rates on home loans will now start from 8.65 per cent. The new rates will be effective from Monday, December 26, the company said.
Gross direct tax collections up by 30% at Rs 10,93,385 cr in current fiscal
The growth has been achieved due to the performance of economy, administration and implementation of the provisions of the direct tax laws, finance ministry sources said. The Central government has set a target of Rs 14,20,000 crore for collection of direct taxes as per budget estimates for 2022-23.
Mistakes to Avoid for Securing a Business Loan
Getting a business loan depends on a few key factors, such as whether or not you meet the eligibility criteria, if you submit the right documents, what your credit score and repayment history are, etc. Besides the right process, there are a few mistakes as well that you can avoid to ensure that your business loan is approved. Let’s take a look at what they are.
Despite global headwinds, Indian economy among fastest growing in the world: Finance Ministry
As per the World Economic Outlook (WEO) October 2022 report of the IMF, the economies around the world were facing recessionary trends due to the aforementioned reasons. The slowdown of global output had also made IMF lower the growth forecast for India's economy, sources informed, adding that domestic economy was projected to grow 6.8 per cent in 2022 and 6.1 per cent in 2023.
India's growth rate to be 6.4% for next 5 years: UK-based Centre for Economics and Business Research
This is going to lead India to the third spot in global ranking by 2037 from the existing fifth in the World Economic League Table in 2022.The Cebr has made this prediction in its annual World Economic League Table 2023 on Monday.The UK-based consultancy has suggested that in the current fiscal, growth is expected to be 6.8 per cent, despite rise in key rates and falling global demand.
Fintech firm Money View raises $75 mn to scale core credit biz
With over 40 million app downloads, the company is currently operating at an annualised disbursal run rate of $1.2 billion, managing assets under management (AUMs) of over $800 million.The current funding also saw participation from Tiger Global, Winter Capital and Evolvence.
CBI arrests Venugopal Dhoot, Videocon Chairman in loan fraud case
Dhoot was placed under arrest following the questioning of Kochhars. His arrest was made in Mumbai.
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