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IndiaTV Business: Google News Feed: Digest for February 24, 2024

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Amid allegations levelled by West Bengal Chief Minister Mamata Banerjee regarding the "deactivation" of Aadhaar cards of SC-STs and minorities of the state ahead of the Lok Sabha polls, Unique Identification Authority of India (UIDAI) on Monday (February 19) clarified that to keep the Aadhaar database updated, intimations are issued to Aadhaar number holders from time to time, but no number has been cancelled.
Equity market opened on a lacklustre note on Tuesday, with Sensex declining nearly 80 points tracking muted trends in Asian stocks and fading expectations of early interest rate cuts globally.

Reliance-backed AI model 'Hanooman' set to debut in March | DETAILS

Wednesday 21 February 2024 09:26 AM UTC+00
BharatGPT, a prominent consortium supported by Mukesh Ambani's Reliance Industries, is on the verge of unveiling an indigenous artificial intelligence (AI) model tailored explicitly for India. Scheduled for a grand debut in March, the ChatGPT-style AIR model promises to usher in a new era of technological advancement. Comprising Reliance Industries Limited (RIL) and eight esteemed universities, BharatGPT recently provided a sneak peek of the revolutionary AI model during an exclusive event.
The Modi government on Wednesday approved a hike in sugarcane Fair and Remunerative Price (FRP) by Rs 25 to Rs 340 per quintal for 2024-25, Union Information and Broadcasting Minister Anurag Thakur informed.
State Bank of India (SBI), the nation's largest lender by assets, has once again ascended the market capitalisation ladder, surpassing software giant Infosys. SBI's stock has surged by 20.5% in February, marking its best monthly return in three years. The last time such gains were witnessed was in February 2021, when it soared by 38.3%. Last week, the state-owned lender reclaimed the title of the most valuable PSU, overtaking LIC in market valuation, following a 10% dip in LIC's share price.
The Enforcement Directorate (ED) issued a look-out circular against Byju Raveendran, the founder and CEO of the crisis-hit edtech company Byju's over the Foreign Exchange Management Act (FEMA) violations. The lookout imposes travelling restrictions on Ravindran. Now, he cannot leave the country. 
In a bullish projection, global brokerage Jefferies anticipated India to claim the position of the third-largest economy by 2027, propelled by robust GDP growth, conducive geopolitics, and ongoing reforms. Over the past decade, India's GDP has surged at a compound annual growth rate (CAGR) of 7% in USD terms, reaching $3.6 trillion and ascending from the 8th to the 5th largest economy globally. Forecasts suggested India's GDP may breach the $5 trillion mark in the next four years, positioning it ahead of Japan and Germany to secure the third spot by 2027. The country's demographics, institutional strength, and governance improvements are cited as key drivers of this growth.
In a significant move aimed at bolstering its position in the global space market, India has announced the easing of approval processes for foreign direct investment (FDI) in its space sector. The government revealed that 100% FDI will now be permitted in the manufacture of satellite systems without requiring official approval. Additionally, regulations governing launch vehicles have been relaxed, marking a pivotal step towards securing a larger share of the lucrative global space market.
Closing market update: Equity benchmark indices rebounded today (February 22), with Nifty hitting its fresh all-time high and Sensex surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks.
Anant Ambani-Radhika Merchant wedding: Anant Ambani, the youngest son of billionaire Mukesh Ambani, will soon marry Radhika Merchant, daughter of industrialist Viren Merchant, on July 12 (Friday). The couple is all set to tie the knot in Mumbai. 
Equity market opened on a lacklustre note on Tuesday, with Sensex declining nearly 80 points tracking muted trends in Asian stocks and fading expectations of early interest rate cuts globally.

Reliance-backed AI model 'Hanooman' set to debut in March | DETAILS

Wednesday 21 February 2024 09:26 AM UTC+00
BharatGPT, a prominent consortium supported by Mukesh Ambani's Reliance Industries, is on the verge of unveiling an indigenous artificial intelligence (AI) model tailored explicitly for India. Scheduled for a grand debut in March, the ChatGPT-style AIR model promises to usher in a new era of technological advancement. Comprising Reliance Industries Limited (RIL) and eight esteemed universities, BharatGPT recently provided a sneak peek of the revolutionary AI model during an exclusive event.
The Modi government on Wednesday approved a hike in sugarcane Fair and Remunerative Price (FRP) by Rs 25 to Rs 340 per quintal for 2024-25, Union Information and Broadcasting Minister Anurag Thakur informed.
State Bank of India (SBI), the nation's largest lender by assets, has once again ascended the market capitalisation ladder, surpassing software giant Infosys. SBI's stock has surged by 20.5% in February, marking its best monthly return in three years. The last time such gains were witnessed was in February 2021, when it soared by 38.3%. Last week, the state-owned lender reclaimed the title of the most valuable PSU, overtaking LIC in market valuation, following a 10% dip in LIC's share price.
The Enforcement Directorate (ED) issued a look-out circular against Byju Raveendran, the founder and CEO of the crisis-hit edtech company Byju's over the Foreign Exchange Management Act (FEMA) violations. The lookout imposes travelling restrictions on Ravindran. Now, he cannot leave the country. 
In a bullish projection, global brokerage Jefferies anticipated India to claim the position of the third-largest economy by 2027, propelled by robust GDP growth, conducive geopolitics, and ongoing reforms. Over the past decade, India's GDP has surged at a compound annual growth rate (CAGR) of 7% in USD terms, reaching $3.6 trillion and ascending from the 8th to the 5th largest economy globally. Forecasts suggested India's GDP may breach the $5 trillion mark in the next four years, positioning it ahead of Japan and Germany to secure the third spot by 2027. The country's demographics, institutional strength, and governance improvements are cited as key drivers of this growth.
In a significant move aimed at bolstering its position in the global space market, India has announced the easing of approval processes for foreign direct investment (FDI) in its space sector. The government revealed that 100% FDI will now be permitted in the manufacture of satellite systems without requiring official approval. Additionally, regulations governing launch vehicles have been relaxed, marking a pivotal step towards securing a larger share of the lucrative global space market.
Closing market update: Equity benchmark indices rebounded today (February 22), with Nifty hitting its fresh all-time high and Sensex surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks.
Anant Ambani-Radhika Merchant wedding: Anant Ambani, the youngest son of billionaire Mukesh Ambani, will soon marry Radhika Merchant, daughter of industrialist Viren Merchant, on July 12 (Friday). The couple is all set to tie the knot in Mumbai. 
Indian stock markets continue to witness a robust uptrend. As trading commenced on Friday, the Nifty surged to touch its all-time high of 22,297 points. At the time of reporting, the BSE Sensex was trading at 73,284 points, up by 126 points or 0.17%, while the NSE Nifty was trading at 22,252 points, marking a gain of 34 points or 0.16%.
Equity market opened on a lacklustre note on Tuesday, with Sensex declining nearly 80 points tracking muted trends in Asian stocks and fading expectations of early interest rate cuts globally.

Reliance-backed AI model 'Hanooman' set to debut in March | DETAILS

Wednesday 21 February 2024 09:26 AM UTC+00
BharatGPT, a prominent consortium supported by Mukesh Ambani's Reliance Industries, is on the verge of unveiling an indigenous artificial intelligence (AI) model tailored explicitly for India. Scheduled for a grand debut in March, the ChatGPT-style AIR model promises to usher in a new era of technological advancement. Comprising Reliance Industries Limited (RIL) and eight esteemed universities, BharatGPT recently provided a sneak peek of the revolutionary AI model during an exclusive event.
The Modi government on Wednesday approved a hike in sugarcane Fair and Remunerative Price (FRP) by Rs 25 to Rs 340 per quintal for 2024-25, Union Information and Broadcasting Minister Anurag Thakur informed.
State Bank of India (SBI), the nation's largest lender by assets, has once again ascended the market capitalisation ladder, surpassing software giant Infosys. SBI's stock has surged by 20.5% in February, marking its best monthly return in three years. The last time such gains were witnessed was in February 2021, when it soared by 38.3%. Last week, the state-owned lender reclaimed the title of the most valuable PSU, overtaking LIC in market valuation, following a 10% dip in LIC's share price.
The Enforcement Directorate (ED) issued a look-out circular against Byju Raveendran, the founder and CEO of the crisis-hit edtech company Byju's over the Foreign Exchange Management Act (FEMA) violations. The lookout imposes travelling restrictions on Ravindran. Now, he cannot leave the country. 
In a bullish projection, global brokerage Jefferies anticipated India to claim the position of the third-largest economy by 2027, propelled by robust GDP growth, conducive geopolitics, and ongoing reforms. Over the past decade, India's GDP has surged at a compound annual growth rate (CAGR) of 7% in USD terms, reaching $3.6 trillion and ascending from the 8th to the 5th largest economy globally. Forecasts suggested India's GDP may breach the $5 trillion mark in the next four years, positioning it ahead of Japan and Germany to secure the third spot by 2027. The country's demographics, institutional strength, and governance improvements are cited as key drivers of this growth.
In a significant move aimed at bolstering its position in the global space market, India has announced the easing of approval processes for foreign direct investment (FDI) in its space sector. The government revealed that 100% FDI will now be permitted in the manufacture of satellite systems without requiring official approval. Additionally, regulations governing launch vehicles have been relaxed, marking a pivotal step towards securing a larger share of the lucrative global space market.
Closing market update: Equity benchmark indices rebounded today (February 22), with Nifty hitting its fresh all-time high and Sensex surging more than 500 points as investors went on a buying spree in IT, automobile and technology stocks.
Anant Ambani-Radhika Merchant wedding: Anant Ambani, the youngest son of billionaire Mukesh Ambani, will soon marry Radhika Merchant, daughter of industrialist Viren Merchant, on July 12 (Friday). The couple is all set to tie the knot in Mumbai. 
Indian stock markets continue to witness a robust uptrend. As trading commenced on Friday, the Nifty surged to touch its all-time high of 22,297 points. At the time of reporting, the BSE Sensex was trading at 73,284 points, up by 126 points or 0.17%, while the NSE Nifty was trading at 22,252 points, marking a gain of 34 points or 0.16%.
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