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IndiaTV Business: Google News Feed: Digest for February 14, 2024

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Market regulator Sebi has issued an interim order directing several guest experts who appeared on a media channel to pay up to Rs 7.41 crore, deemed an "unlawful gain" that they acquired by taking positions opposite to the ones they advised on air.
Benchmark Sensex rebounded by 167 points in a volatile trade on Friday amid buying in ICICI Bank, State Bank of India and Reliance Industries. The 30-share BSE Sensex climbed 167.06 points or 0.23 per cent to settle at 71,595.49. During the day, it hit a high of 71,676.49 and a low of 71,200.31.
Amidst mounting challenges, Paytm Payments Bank finds itself embroiled in yet another setback as the Employees' Provident Fund Organization (EPFO) has issued a directive instructing its officers to exercise caution when handling claims linked to the Paytm subsidiary.
Retirement fund body Employees' Provident Fund Organisation (EPFO) has hiked the interest rate on deposits to 8.25 per cent from 8.15 per cent.
The banking sector and players in the space should be mindful of legal and cyber risks, and skill gaps emanating from Artificial Intelligence (AI), RBI Deputy Governor T Rabi Sankar has said. "With the adoption of AI and GenAI, laws are to be redefined. Industry needs to note that Digital Personal Data Protection (DPDP) Act rules are going to come soon, and banks may be in violation of some of it so it's important to start preparing for it," he said.
New Delhi: Net direct tax collection in the current fiscal year has witnessed a growth of 20 per cent year-on-year to Rs 15.60 lakh crore. This collection is 80.23 per cent of the total revised estimates for the full fiscal year. According to the  Central Board of Direct Taxes (CBDT), the provisional figures of direct tax collections continue to demonstrate steady growth.
Business news: The central government is examining foreign direct investment from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd, sources said on Sunday (February 11).  In November 2020, PPSL had applied for a licence with the Reserve Bank of India (RBI) to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in November 2022, RBI rejected PPSL's application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules.
The Unified Payment Interface (UPI) is rolled out its services in Sri Lanka and Mauritius on Monday in the presence of Prime Minister Narendra Modi and the top leadership of the two island nations. PM Modi participated in the event virtually. 
New Delhi: India's retail inflation eased to a three-month low of 5.10 per cent in January 2024 primarily due to reduced food prices, the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) said on Monday. 
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.
The banking sector and players in the space should be mindful of legal and cyber risks, and skill gaps emanating from Artificial Intelligence (AI), RBI Deputy Governor T Rabi Sankar has said. "With the adoption of AI and GenAI, laws are to be redefined. Industry needs to note that Digital Personal Data Protection (DPDP) Act rules are going to come soon, and banks may be in violation of some of it so it's important to start preparing for it," he said.
New Delhi: Net direct tax collection in the current fiscal year has witnessed a growth of 20 per cent year-on-year to Rs 15.60 lakh crore. This collection is 80.23 per cent of the total revised estimates for the full fiscal year. According to the  Central Board of Direct Taxes (CBDT), the provisional figures of direct tax collections continue to demonstrate steady growth.
Business news: The central government is examining foreign direct investment from China in Paytm Payments Services Ltd (PPSL), the payment aggregator subsidiary of One97 Communications Ltd, sources said on Sunday (February 11).  In November 2020, PPSL had applied for a licence with the Reserve Bank of India (RBI) to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in November 2022, RBI rejected PPSL's application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules.
The Unified Payment Interface (UPI) is rolled out its services in Sri Lanka and Mauritius on Monday in the presence of Prime Minister Narendra Modi and the top leadership of the two island nations. PM Modi participated in the event virtually. 
New Delhi: India's retail inflation eased to a three-month low of 5.10 per cent in January 2024 primarily due to reduced food prices, the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) said on Monday. 
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
The BSE Sensex rose by 116.42 points to 71,188.91 in early trade on Tuesday, while the Nifty climbed 14.80 points to 21,630.85.
The Unified Payment Interface (UPI) is rolled out its services in Sri Lanka and Mauritius on Monday in the presence of Prime Minister Narendra Modi and the top leadership of the two island nations. PM Modi participated in the event virtually. 
New Delhi: India's retail inflation eased to a three-month low of 5.10 per cent in January 2024 primarily due to reduced food prices, the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) said on Monday. 
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
Passenger vehicle retail sales surged to an all-time high in January, fueled by strong demand for sports utility vehicles (SUVs) and the ongoing wedding season, according to the Federation of Automobile Dealers Associations (FADA).
Tata Motors announced a significant reduction in prices for two of its electric vehicle (EV) models, Nexon.ev and Tiago.ev, by up to Rs 1.2 lakh.
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
Passenger vehicle retail sales surged to an all-time high in January, fueled by strong demand for sports utility vehicles (SUVs) and the ongoing wedding season, according to the Federation of Automobile Dealers Associations (FADA).
Tata Motors announced a significant reduction in prices for two of its electric vehicle (EV) models, Nexon.ev and Tiago.ev, by up to Rs 1.2 lakh.
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
Passenger vehicle retail sales surged to an all-time high in January, fueled by strong demand for sports utility vehicles (SUVs) and the ongoing wedding season, according to the Federation of Automobile Dealers Associations (FADA).
Tata Motors announced a significant reduction in prices for two of its electric vehicle (EV) models, Nexon.ev and Tiago.ev, by up to Rs 1.2 lakh.
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
Passenger vehicle retail sales surged to an all-time high in January, fueled by strong demand for sports utility vehicles (SUVs) and the ongoing wedding season, according to the Federation of Automobile Dealers Associations (FADA).
Tata Motors announced a significant reduction in prices for two of its electric vehicle (EV) models, Nexon.ev and Tiago.ev, by up to Rs 1.2 lakh.
New Delhi: Reserve Bank of India (RBI)  Governor Shaktikanta Das on Monday ruled out any review of the central bank's action against Paytm Payments Bank (PPBL), stating that the decision was made following a comprehensive assessment. He further said that RBI is not against any fintech but its prime objective is to protect the interest of customers and depositors.

Unemployment rate in urban areas falls to 6.50 per cent in Q3

Tuesday 13 February 2024 01:29 AM UTC+00
The unemployment rate in urban areas of India for individuals aged 15 years and above dropped to 6.5 per cent during October–December 2023, down from 7.2 per cent in the same period last year, according to government data released on Monday.
Vibhor Steel Tubes is set to launch its IPO, valued at Rs 72.17 crore, on February 13, with the subscription period running until February 15, 2024.
Low-cost carrier SpiceJet is set to lay off 1,400 employees, accounting for approximately 15 per cent of its workforce, as part of efforts to cut operational costs, according to a media report.
Benchmark indices Sensex and Nifty experienced fluctuations amidst mixed trends in global markets in early trade on Tuesday .
Credit card providers offer a cash advance facility, allowing individuals to withdraw money from their credit card account and transfer it to their bank account. This essentially works like taking a loan, with the issuer applying interest on the transferred amount. The interest rate depends on how long it takes to repay the cash advance.
Tata Steel has invited applications from transgender candidates for several positions across multiple locations, taking a "significant step towards promoting inclusivity", the company said.

Paytm plunges nearly 8 per cent to hit 52-week low; here's why

Tuesday 13 February 2024 06:59 AM UTC+00
Paytm's parent company, One97 Communications, witnessed a significant drop in its shares on Tuesday, declining by nearly 8 per cent following Reserve Bank of India (RBI) Governor Das's statement affirming the central bank's stance against Paytm Payments Bank Ltd (PPBL).
Passenger vehicle retail sales surged to an all-time high in January, fueled by strong demand for sports utility vehicles (SUVs) and the ongoing wedding season, according to the Federation of Automobile Dealers Associations (FADA).
Tata Motors announced a significant reduction in prices for two of its electric vehicle (EV) models, Nexon.ev and Tiago.ev, by up to Rs 1.2 lakh.
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