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IndiaTV Business: Google News Feed: Digest for August 20, 2023

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RBI launches portal to access details of unclaimed deposits

Thursday 17 August 2023 03:20 PM UTC+00
The Reserve Bank on Thursday (August 17) launched a centralised web portal UDGAM (Unclaimed Deposits - Gateway to Access information) aiming to aid people search and claim unclaimed deposits.
Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC and HDFC bank amid a weak trend in global markets. The 30-share BSE Sensex declined 388.40 points or 0.59 per cent to settle at 65,151.02.
Educational technology company Unacademy sacked a teacher who allegedly appealed to students to vote for educated candidates. Defending its decision, the edtech firm said that the classroom is not a place to share personal opinions and views.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC and HDFC bank amid a weak trend in global markets. The 30-share BSE Sensex declined 388.40 points or 0.59 per cent to settle at 65,151.02.
Educational technology company Unacademy sacked a teacher who allegedly appealed to students to vote for educated candidates. Defending its decision, the edtech firm said that the classroom is not a place to share personal opinions and views.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC and HDFC bank amid a weak trend in global markets. The 30-share BSE Sensex declined 388.40 points or 0.59 per cent to settle at 65,151.02.
Educational technology company Unacademy sacked a teacher who allegedly appealed to students to vote for educated candidates. Defending its decision, the edtech firm said that the classroom is not a place to share personal opinions and views.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
Educational technology company Unacademy sacked a teacher who allegedly appealed to students to vote for educated candidates. Defending its decision, the edtech firm said that the classroom is not a place to share personal opinions and views.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.
Educational technology company Unacademy sacked a teacher who allegedly appealed to students to vote for educated candidates. Defending its decision, the edtech firm said that the classroom is not a place to share personal opinions and views.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.
Farmers have always been the backbone of India. Around 70 per cent of rural households still depend primarily on agriculture for their livelihood. The Modi government has taken several measures to boost productivity and, thus, the income of farmers in the last few years.
The financial capital Mumbai continued to remain the most costly real estate market in India, and its Equated Monthly Instalment (EMI) to income ratio rose from 52% in 2021 to 55% in the first half of 2023, according to an assessment by Knight Frank India's Affordability Index data released on Wednesday. Meanwhile, Ahmedabad remains the most reasonable real estate market, with a ratio of 23%.
The RBI on Friday (August 18) asked banks and other lenders to provide borrowers an option to switch over to a fixed rate at the time of reset of interest rates.
Prime Minister Narendra Modi on Friday shared his blog post on 'India's Rising Prosperity', where he talked about the country's thriving economy. The blog is posted on the LinkedIn platform. In his post, the Prime Minister mentioned about two research pieces on India's economy: One from SBI Research and another by Anil Padmanabhan, a noted journalist. 
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said.

Govt will adhere to fiscal deficit target of 5.9% for FY 24

Friday 18 August 2023 01:40 PM UTC+00
The government will stick to the fiscal deficit target of 5.9 percent of the GDP as robust tax and non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds, Finance Secretary T V Somanathan said on Friday. Although there would be a shortfall with respect to disinvestment, he said, this shortfall would be met by non-tax revenue mobilisation.
In what could be termed as good news for OTT platform lovers, Reliance Jio on Friday unveiled two prepaid mobile plans bundled with a Netflix subscription. In a statement, the telecom company said that it is a global first-of-its-kind prepaid bundle deal for Netflix. 
A leading provider of high-end specialty chemicals, Vikas Ecotech, has announced plans to set up a world-class research laboratory that meets international standards and achieves NABL accreditation. Notably, its in-house research & development (R&D) unit is recognised by the Department of Scientific and Industrial Research, Ministry of Science & Technology.
BYJU'S has laid off 100 employees in a fresh round of layoffs. The company has not disclosed the specific departments or roles that were affected, but the layoffs are said to have been concentrated in the sales and marketing teams. This is the second round of layoffs at BYJU'S in the past six months. In February 2023, the company laid off 2,500 employees. The latest round of layoffs brings the total number of employees that BYJU'S has laid off in the past year to over 3,600.

Govt imposes 40 per cent duty on onion exports till December 31

Saturday 19 August 2023 01:36 PM UTC+00
The government on Saturday imposed an export duty of 40 per cent on onions with immediate effect to check price rise and improve supplies in the domestic market.  This export duty is valid till December 31, 2023. The export duty comes amid reports that onion prices are likely to rise in September.
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