-->

Ad Unit (Iklan) BIG

Home  ›  Uncategorized

IndiaTV Business: Google News Feed: Digest for August 12, 2023

IndiaTV Business: Google News Feed

IndiaTV: Business RSS Feed

Table of Contents

A recent study revealed that passive funds have gained traction among investors in India in the last few years, capturing a market share of over 17 per cent of Assets Under Management (AUM) in 2023 from 1.4 per cent in 2015. A passive fund is an investment instrument that simulates the performance of a market index or a specific market segment. Passive index funds, Exchange Traded Funds (ETFs), and Fund of Funds investing in ETFs are examples of these funds. 

Credit card default rises to Rs 4,072 crore in FY23

Tuesday 08 August 2023 04:12 PM UTC+00
Credit card default rose to Rs 4,072 crore or 1.94 per cent at the end of March 2023, Parliament was informed on Tuesday. "As per the inputs received from RBI, in respect of defaults in credit cards, the gross non-performing assets (GNPAs) in credit cards was Rs 3,122 crore in March-2022 and Rs 4,072 crore in March-2023, while credit card outstanding in March-2022 and March-2023 was Rs 1.64 lakh crore and Rs 2.10 lakh crore, respectively," Minister of State for Finance Bhagwat Karad said in a written reply in Rajya Sabha.
The Modi government's push to develop logistics infrastructure is serving as a strong foundation for the world's fastest-growing economy. The logistics sector's role in driving the economy is significant, contributing an estimated 13-14 per cent to India's GDP. As the logistics sector's contribution rises further, logistics solution provider Shreeji Translogistics has reported stellar earnings in the first quarter.
Mobile Premier League Online sports platform Mobile Premier League (MPL) has laid off around 350 employees or about half of its India team to cut down on expenses and bear the burden of increased GST of 28 per cent, according to an internal company email.
The Employees Provident Fund Organisation (EPFO) has initiated the process of depositing interest for the financial year 2022–23. EPFO has given this information in response to a post by a user on the social media platform X. The central government approved in July this year raising the interest rate on Employees Provident Fund (EPF) deposits to 8.15% for the financial year 2022–23.
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.

Credit card default rises to Rs 4,072 crore in FY23

Tuesday 08 August 2023 04:12 PM UTC+00
Credit card default rose to Rs 4,072 crore or 1.94 per cent at the end of March 2023, Parliament was informed on Tuesday. "As per the inputs received from RBI, in respect of defaults in credit cards, the gross non-performing assets (GNPAs) in credit cards was Rs 3,122 crore in March-2022 and Rs 4,072 crore in March-2023, while credit card outstanding in March-2022 and March-2023 was Rs 1.64 lakh crore and Rs 2.10 lakh crore, respectively," Minister of State for Finance Bhagwat Karad said in a written reply in Rajya Sabha.
The Modi government's push to develop logistics infrastructure is serving as a strong foundation for the world's fastest-growing economy. The logistics sector's role in driving the economy is significant, contributing an estimated 13-14 per cent to India's GDP. As the logistics sector's contribution rises further, logistics solution provider Shreeji Translogistics has reported stellar earnings in the first quarter.
Mobile Premier League Online sports platform Mobile Premier League (MPL) has laid off around 350 employees or about half of its India team to cut down on expenses and bear the burden of increased GST of 28 per cent, according to an internal company email.
The Employees Provident Fund Organisation (EPFO) has initiated the process of depositing interest for the financial year 2022–23. EPFO has given this information in response to a post by a user on the social media platform X. The central government approved in July this year raising the interest rate on Employees Provident Fund (EPF) deposits to 8.15% for the financial year 2022–23.
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 05:26 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
The Modi government's push to develop logistics infrastructure is serving as a strong foundation for the world's fastest-growing economy. The logistics sector's role in driving the economy is significant, contributing an estimated 13-14 per cent to India's GDP. As the logistics sector's contribution rises further, logistics solution provider Shreeji Translogistics has reported stellar earnings in the first quarter.
Mobile Premier League Online sports platform Mobile Premier League (MPL) has laid off around 350 employees or about half of its India team to cut down on expenses and bear the burden of increased GST of 28 per cent, according to an internal company email.
The Employees Provident Fund Organisation (EPFO) has initiated the process of depositing interest for the financial year 2022–23. EPFO has given this information in response to a post by a user on the social media platform X. The central government approved in July this year raising the interest rate on Employees Provident Fund (EPF) deposits to 8.15% for the financial year 2022–23.
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
The Employees Provident Fund Organisation (EPFO) has initiated the process of depositing interest for the financial year 2022–23. EPFO has given this information in response to a post by a user on the social media platform X. The central government approved in July this year raising the interest rate on Employees Provident Fund (EPF) deposits to 8.15% for the financial year 2022–23.
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
As inflation is soaring high in the country, the Union Government on Wednesday declared that it has decided to sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market in order to check the price rise.
Equity benchmark indices closed higher on Wednesday, helped by fag-end buying in index majors Reliance Industries, ITC and M&M amid a positive start in European markets. Cautious trade prevailed in the markets for the most part of the day ahead of two major events -- the RBI's monetary policy and the US inflation data -- due to be announced on Thursday.
Rice prices in Asia have reportedly risen to their highest levels in nearly 15 years, owing to growing fears over global supply as dry weather threatens output in Thailand and after top shipper India put a ban on certain exports. According to data from the Thai Rice Exporters Association, Thai white rice 5 per cent broken, an Asian benchmark, jumped to $648 a tonne, the most expensive since October 2008.
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50 per cent. The Central Bank decided to keep the policy rate unchanged for the third time in a row as it maintains heightened vigil on inflation.
Following the RBI monetary policy, Benchmark equity indices declined on Thursday dragged down by banking counters, after the unexpected announcement of reducing cash in the financial system. Investors also remained on the sidelines ahead of the US inflation data announcement.
Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge.

Indian Railways suspends THIS service till Independence Day

Friday 11 August 2023 09:16 AM UTC+00
On the occasion of Independence Day 2023, agencies are taking all possible steps to keep the security system tight in Delhi. In view of this, it has been decided to stop an essential service of Indian Railways. Owing to security reasons, the railways have suspended parcel service at various railway stations falling in the Delhi area from August 12 to August 15. That is, if you have to send your bike, scooter or any other goods to Delhi by rail parcel, then wait for three to four days. However, this facility will continue for registered magazines and papers.
Reserve Bank Governor Shaktikanta Das said that there is an urgent need to enhance green capital flows while pitching for the completion of the general review of quotas at the International Monetary Fund (IMF) on Friday.
The Income Tax department stated that the Gross direct tax collection grew 15.73 per cent to Rs 6.53 lakh crore till August 10 in the current fiscal. After accounting for refunds, the net direct tax collection is Rs 5.84 lakh crore, which is 17.33% higher than the net collections for the same period the previous year, it added. 
A recent data released by the National Statistical Office (NSO) revealed that India's industrial production rose by 3.7 per cent in June. According to the official data, the factory output measured in terms of the Index of Industrial Production (IIP) grew by 12.6 per cent in June 2022. 
You received this email because you set up a subscription at Feedrabbit. This email was sent to you at epaperindia10@gmail.com. Unsubscribe or change your subscription.

Related Posts

There is no other posts in this category.
Subscribe Our Newsletter