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See whats happening in BFSI sector right now
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Why is RBI taking strong action?
After the collapse of banks in Europe and the US, the Indian central bank has become very cautious. It has already seen the havoc created by the PMC Bank fraud and the challenges while imposing a moratorium on Yes Bank. The RBI does not want any of the situations to repeat and is trying its best to be proactive and avoid any risk, whether it’s a systematic or any individual bank’s operational risk.
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What was Bajaj Finance’s Insta EMI Card controversy?
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Monthly Credit Records : 16% uptick in overall outstanding loans in Mar'24
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Will Bitcoin extend fall?
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Private banks take NIM hit in Q4 due to higher deposit rates
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Federal Bank in advanced stages for hiring new CEO, awaiting RBI approval: Shyam Srinivasan
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Account Aggregator will be the UPI of financial information, says BG Mahesh of Sahamati
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‘Figment of imagination’, ICICI Bank denies report of MD & CEO wanting to quit
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NIPL partners with Bank of Namibia to develop UPI-like payment system in Africa
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Biden expands health insurance access for DACA immigrants
Biden's administration expands health insurance access for DACA immigrants, granting work permits, tax credits, and access to the Basic Health Program, benefiting about 100,000 previously uninsured DACA participants under the Affordable Care Act.
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Forget any rate cut in 2024! What experts are predicting after Fed meeting
Global stock markets heaved a sigh of relief last night when the world's most powerful central banker Jerome Powell assured investors that it is unlikely for the US Federal Reserve to go for a rate hike. After the Dow Jones ended higher overnight, the Sensex was also up around 200 points this morning.
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DA hiked to 50% for central government employees; retirement and death gratuity will increase by this much
Latest on DA hike: The Central government increased the dearness allowance (DA) and dearness relief (DR) by 4% in March 2024. This hike in DA to 50% also increased various components of a central government employee’s salary.
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India's services exports dip marginally in March to $30 bn
In March 2024, India's services exports dipped by 1.3% to $30 billion, while imports decreased by 2.1% to $16.61 billion, according to Reserve Bank data. The trade surplus for the month stood at $13.4 billion. Although both exports and imports of services had shown growth in the preceding two months, the trend reversed in March. The commerce ministry estimates services exports for fiscal 2023-24 at $339.62 billion and imports at $177.56 billion, resulting in a trade surplus of $162 billion for the year.
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Stock market crash today: BSE Sensex plunges over 1,100 points to dip below 74,000; Nifty50 around 22,350 as bears growl - top reasons for decline
Stock market crash today: The S&P BSE Sensex dropped by 1,126 points or 1.5% to reach the day's low of 73,627.99, and the broader Nifty 50 fell by 289 points, reaching the day's low of 22,358.65. All sectoral indices are experiencing declines in trading.
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World economy looks to dodge stagflation rut as outlook perks up
The brighter outlook indicates the world economy looks to avoid entering a stagflationary rut — a period of sluggish growth and rising unemployment mixed with elevated inflation
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Bajaj Finance shares jump over 7% as RBI lifts curbs in less than 6 months
Bajaj Finance Shares Price: Bajaj Finance's shares soared 7.5% on BSE following RBI's decision to lift restrictions on key customer acquisition products. Analysts foresee positive outcomes with improved growth visibility and potential profit CAGR.
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Stock market crash today: BSE Sensex plunges over 900 points to dip below 74,000; Nifty50 around 22,450 as bears growl
Stock market crash today: BSE Sensex and Nifty50, the Indian equity benchmark indices, tanked in trade on Friday, despite a strong opening and the Nifty reaching a new all-time high.
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Bank of Baroda shares drop 0.82% as Sensex falls
A total of 155,434 shares changed hands on the counter till 11:58AM (IST)
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FD interest rate up to 8%: Indian Bank extends special FD deadlines to this date
The deadline for investing in the Indian Bank's special fixed deposit, which offers higher interest rates, has been extended. .
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India to grow 6.6 % in next two years, driven by public sector demand: OECD
According to the latest Economic Outlook from the OECD, India's GDP is estimated to have expanded by 7.8 percent in the recently concluded financial year 2023-24, with forecasts indicating growth rates of around 6.6 percent for each of the subsequent two fiscal years. However, global near-term developments present challenges to achieving higher growth.
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RBI says 97.76% of Rs 2000 currency notes returned
On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
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Almost 43 pc health insurance policyholders struggled to get claims processed in last 3 yrs: Survey
"Despite some interventions by the Insurance Regulatory and Development Authority of India (Irdai) consumers continue to grapple with insurance companies to get their health claims," Localcircles said in a statement.
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Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore
The deal with MSL enables Ugro Capital to enter the tech-enabled embedded finance market. The non-bank lender will initially pay Rs 28 crore to acquire 76% of MSL, while the remaining Rs 17 crore will be paid later to secure full ownership of the company.
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Gilty, My Lord! Pension funds bond more with govt debt
NPS drives record investment in government bonds to 4.4%, totaling ₹4.67 lakh crore. Shift towards debt, influenced by market performance, particularly in fixed-income, reflects security-focused investment decisions amidst changing yield dynamics and retirement strategies.
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Thematic funds catch the eye of investors, draw Rs 1.22 lakh crore in FY24
Assets under management (AUM) of this equity category in FY24 soared by ₹1.22 lakh crore to ₹2.93 lakh crore from ₹1.7 lakh crore a year ago - the highest growth in assets under management (AUM) collected by any equity category in this period.
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RBI lifts digital lending curbs on Bajaj Finance after 6 months
RBI lifted digital lending restrictions on Bajaj Finance, allowing the company to resume loan issuance through 'eCOM' and 'Insta EMI Card'. The ban lift followed remedial actions by Bajaj Finance, impacting Q4FY24 profit by 4%.