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IndiaTV Business: Google News Feed: Digest for September 14, 2023

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Zepto appoints Ankit Agarwal as Chief Product Officer

Friday 08 September 2023 05:50 AM UTC+00
Zepto news: Quick-commerce and logistics company Zepto has elevated Ankit Agarwal, the Special Vice President (SVP) for Product, to the position of Chief Product Officer, the company said on Friday (September 8). Agarwal joined Zepto in August 2022, and has worked with companies like Adobe, Flipkart, Delhivery.
The World Bank stated that India's digital public infrastructure has had a profound impact that goes well beyond financial inclusion. In a document, the international financial institution praised India, noting that the progress it has made in just six years would have otherwise taken about five decades of time.
The United Kingdom's second-largest city Birmingham has effectively declared itself by shutting down all non-essential spending with equal pay claims rising as high as 760 million euros ($954 million). The city now expects to have a deficit of 87 million euros ($109 million) for the 2023-24 financial year, CNN reported.
The Reserve Bank of India (RBI) is likely to introduce the pilot of the Central Bank Digital Currency (CBDC) for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday.
As investors continued to remain optimistic about the domestic markets, equity benchmark indices extended their rally for the seventh day running on Monday. Buying in index majors Reliance Industries and Tata Consultancy Services also added to the winning momentum in equities. The 30-share BSE Sensex climbed 293.7 points to 66,892.61 in early trade. The Nifty advanced 95 points to 19,914.95.
Nifty closed at an all time high at record 20,000 mark for the first time while Sensex jumped 528 points to regain the 67,000 level while robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.
Climbing for the eighth day running, equity benchmark indices continued their winning momentum on Tuesday early trade, with the Nifty scaling its fresh all-time high level. The strong rise in equity in initial deals was also aided by a generally firm trend in global markets and recent foreign capital inflows.
Road Transport Minister Nitin Gadkari on Tuesday clarified reports on additional tax on diesel engine vehicles and said that there is no such proposal currently under active consideration by the government. 
India has decided to reduce the additional 20% duty on US apples, but the existing 50% most favored nation (MFN) duty will remain in place. This means that US apples will still face a higher import duty than apples from other countries. The decision to remove the additional 20% duty was part of a trade deal between India and the US. In exchange for removing the duty on apples, the US agreed to restore market access for Indian steel and aluminum products.
India's retail inflation declined to 6.83% in August 2023 from 7.44% in July 2023. This is the first time since February 2023 that the retail inflation has come down below 7%. The decline in inflation was mainly due to easing food prices. The inflation in food items fell to 7.05% in August from 7.75% in July. Prices of vegetables, pulses and spices declined significantly. Meanwhile, India's industrial production (IIP) rose by 5.7% in July 2023, compared to a growth of 4.0% in the same month a year ago. This is the highest IIP growth rate in the current financial year.

Zepto appoints Ankit Agarwal as Chief Product Officer

Friday 08 September 2023 05:50 AM UTC+00
Zepto news: Quick-commerce and logistics company Zepto has elevated Ankit Agarwal, the Special Vice President (SVP) for Product, to the position of Chief Product Officer, the company said on Friday (September 8). Agarwal joined Zepto in August 2022, and has worked with companies like Adobe, Flipkart, Delhivery.
The World Bank stated that India's digital public infrastructure has had a profound impact that goes well beyond financial inclusion. In a document, the international financial institution praised India, noting that the progress it has made in just six years would have otherwise taken about five decades of time.
The United Kingdom's second-largest city Birmingham has effectively declared itself by shutting down all non-essential spending with equal pay claims rising as high as 760 million euros ($954 million). The city now expects to have a deficit of 87 million euros ($109 million) for the 2023-24 financial year, CNN reported.
The Reserve Bank of India (RBI) is likely to introduce the pilot of the Central Bank Digital Currency (CBDC) for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday.
As investors continued to remain optimistic about the domestic markets, equity benchmark indices extended their rally for the seventh day running on Monday. Buying in index majors Reliance Industries and Tata Consultancy Services also added to the winning momentum in equities. The 30-share BSE Sensex climbed 293.7 points to 66,892.61 in early trade. The Nifty advanced 95 points to 19,914.95.
Nifty closed at an all time high at record 20,000 mark for the first time while Sensex jumped 528 points to regain the 67,000 level while robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.
Climbing for the eighth day running, equity benchmark indices continued their winning momentum on Tuesday early trade, with the Nifty scaling its fresh all-time high level. The strong rise in equity in initial deals was also aided by a generally firm trend in global markets and recent foreign capital inflows.
Road Transport Minister Nitin Gadkari on Tuesday clarified reports on additional tax on diesel engine vehicles and said that there is no such proposal currently under active consideration by the government. 
India has decided to reduce the additional 20% duty on US apples, but the existing 50% most favored nation (MFN) duty will remain in place. This means that US apples will still face a higher import duty than apples from other countries. The decision to remove the additional 20% duty was part of a trade deal between India and the US. In exchange for removing the duty on apples, the US agreed to restore market access for Indian steel and aluminum products.
India's retail inflation declined to 6.83% in August 2023 from 7.44% in July 2023. This is the first time since February 2023 that the retail inflation has come down below 7%. The decline in inflation was mainly due to easing food prices. The inflation in food items fell to 7.05% in August from 7.75% in July. Prices of vegetables, pulses and spices declined significantly. Meanwhile, India's industrial production (IIP) rose by 5.7% in July 2023, compared to a growth of 4.0% in the same month a year ago. This is the highest IIP growth rate in the current financial year.

Zepto appoints Ankit Agarwal as Chief Product Officer

Friday 08 September 2023 05:50 AM UTC+00
Zepto news: Quick-commerce and logistics company Zepto has elevated Ankit Agarwal, the Special Vice President (SVP) for Product, to the position of Chief Product Officer, the company said on Friday (September 8). Agarwal joined Zepto in August 2022, and has worked with companies like Adobe, Flipkart, Delhivery.
The World Bank stated that India's digital public infrastructure has had a profound impact that goes well beyond financial inclusion. In a document, the international financial institution praised India, noting that the progress it has made in just six years would have otherwise taken about five decades of time.
The United Kingdom's second-largest city Birmingham has effectively declared itself by shutting down all non-essential spending with equal pay claims rising as high as 760 million euros ($954 million). The city now expects to have a deficit of 87 million euros ($109 million) for the 2023-24 financial year, CNN reported.
The Reserve Bank of India (RBI) is likely to introduce the pilot of the Central Bank Digital Currency (CBDC) for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday.
As investors continued to remain optimistic about the domestic markets, equity benchmark indices extended their rally for the seventh day running on Monday. Buying in index majors Reliance Industries and Tata Consultancy Services also added to the winning momentum in equities. The 30-share BSE Sensex climbed 293.7 points to 66,892.61 in early trade. The Nifty advanced 95 points to 19,914.95.
Nifty closed at an all time high at record 20,000 mark for the first time while Sensex jumped 528 points to regain the 67,000 level while robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.
Climbing for the eighth day running, equity benchmark indices continued their winning momentum on Tuesday early trade, with the Nifty scaling its fresh all-time high level. The strong rise in equity in initial deals was also aided by a generally firm trend in global markets and recent foreign capital inflows.
Road Transport Minister Nitin Gadkari on Tuesday clarified reports on additional tax on diesel engine vehicles and said that there is no such proposal currently under active consideration by the government. 
India has decided to reduce the additional 20% duty on US apples, but the existing 50% most favored nation (MFN) duty will remain in place. This means that US apples will still face a higher import duty than apples from other countries. The decision to remove the additional 20% duty was part of a trade deal between India and the US. In exchange for removing the duty on apples, the US agreed to restore market access for Indian steel and aluminum products.
India's retail inflation declined to 6.83% in August 2023 from 7.44% in July 2023. This is the first time since February 2023 that the retail inflation has come down below 7%. The decline in inflation was mainly due to easing food prices. The inflation in food items fell to 7.05% in August from 7.75% in July. Prices of vegetables, pulses and spices declined significantly. Meanwhile, India's industrial production (IIP) rose by 5.7% in July 2023, compared to a growth of 4.0% in the same month a year ago. This is the highest IIP growth rate in the current financial year.
The United Kingdom's second-largest city Birmingham has effectively declared itself by shutting down all non-essential spending with equal pay claims rising as high as 760 million euros ($954 million). The city now expects to have a deficit of 87 million euros ($109 million) for the 2023-24 financial year, CNN reported.
The Reserve Bank of India (RBI) is likely to introduce the pilot of the Central Bank Digital Currency (CBDC) for transactions for the interbank borrowing or call money market by October, said central bank Executive Director Ajay Kumar Choudhary on Sunday.
As investors continued to remain optimistic about the domestic markets, equity benchmark indices extended their rally for the seventh day running on Monday. Buying in index majors Reliance Industries and Tata Consultancy Services also added to the winning momentum in equities. The 30-share BSE Sensex climbed 293.7 points to 66,892.61 in early trade. The Nifty advanced 95 points to 19,914.95.
Nifty closed at an all time high at record 20,000 mark for the first time while Sensex jumped 528 points to regain the 67,000 level while robust buying by domestic investors helped equity markets extend the winning run to the seventh straight session on Monday.
Climbing for the eighth day running, equity benchmark indices continued their winning momentum on Tuesday early trade, with the Nifty scaling its fresh all-time high level. The strong rise in equity in initial deals was also aided by a generally firm trend in global markets and recent foreign capital inflows.
Road Transport Minister Nitin Gadkari on Tuesday clarified reports on additional tax on diesel engine vehicles and said that there is no such proposal currently under active consideration by the government. 
India has decided to reduce the additional 20% duty on US apples, but the existing 50% most favored nation (MFN) duty will remain in place. This means that US apples will still face a higher import duty than apples from other countries. The decision to remove the additional 20% duty was part of a trade deal between India and the US. In exchange for removing the duty on apples, the US agreed to restore market access for Indian steel and aluminum products.
India's retail inflation declined to 6.83% in August 2023 from 7.44% in July 2023. This is the first time since February 2023 that the retail inflation has come down below 7%. The decline in inflation was mainly due to easing food prices. The inflation in food items fell to 7.05% in August from 7.75% in July. Prices of vegetables, pulses and spices declined significantly. Meanwhile, India's industrial production (IIP) rose by 5.7% in July 2023, compared to a growth of 4.0% in the same month a year ago. This is the highest IIP growth rate in the current financial year.
Blue Dart, a leading courier and logistics company in India, has rebranded its Dart Plus service to "Bharat Dart". The new name is more reflective of the service's nationwide reach and its commitment to providing customers with a reliable and affordable way to send parcels across India. The new name will take effect from October 1, 2023. Blue Dart said that the rebranding is part of its efforts to "strengthen its brand identity and better connect with customers across India."
With the onset of the festival season, the Central government is all set make happy announcements. According to reports, the Narendra Modi government may increase the interest rates for the investments in the Public Provident Fund Account (PPF)-Sukanya Samriddhi scheme.The quarterly review of interest rates of small savings schemes like PPF, Sukanya Samriddhi, Senior Citizens Saving Schemes is expected to be done by the Finance Ministry this month. 
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