Category: Business

Business

Why is SEBI tightening norms for ‘FinFluencers’? | Explained

September 4, 2023 admin

The story so far: On August 25, markets regulator Securities and Exchange Board of India (SEBI) floated a consultation paper proposing regulations to restrict the association of SEBI-registered intermediaries or regulated entities with unregistered ‘finfluencers.’ Other than undertaking enforcement action against the unregistered ‘finfluencers,’ the paper proposed measures to “disrupt the revenue model for such…

Business

Sensex, Nifty rise for second day on encouraging macro data, firm global trend

September 4, 2023 admin

File. | Photo Credit: Vivek Bendre Benchmark equity indices Sensex and Nifty rallied for the second straight session on September 4 following encouraging domestic macroeconomic data amid a firm trend in global markets. Fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment, traders said. The BSE benchmark Sensex climbed…

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Rupee falls 11 paise to close at 82.73 against U.S. dollar

September 4, 2023 admin

File. | Photo Credit: Reuters The rupee depreciated by 11 paise to close at 82.73 (provisional) against the U.S. dollar on September 4, weighed down by a surge in crude oil prices and strength of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.71 against…

Business

Shapoorji Pallonji Group Fined Rs 7 lakh For Violating Disclosure Rules

September 4, 2023 admin

Sebi has imposed a penalty of Rs 7 lakh on Shapoorji Pallonji and Company (File) New Delhi: Capital markets regulator Sebi has imposed a penalty of Rs 7 lakh on Shapoorji Pallonji and Company for violating disclosure norms. In its order, Sebi found that Shapoorji Pallonji and Company did not take prior approval from the…

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SBI introduces UPI interoperability in Digital Rupee

September 4, 2023 admin

The State Bank of India (SBI), the public sector lender said it had implemented Unified Payments Interface (UPI) interoperability in Digital Rupee (₹) also called as Central Bank Digital Currency (CBDC). Also read: Explained: RBI’s digital currency plans “This cutting-edge feature, accessible through the ‘eRupee by SBI’ application will empower SBI CBDC users to effortlessly…

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Amazon To Invest $3 Million In Nature-Based Projects In India

September 4, 2023 admin

Amazon To Invest Million In Nature-Based Projects In India

Amazon India has also committed to deploying 10,000 EVs in its delivery fleet by 2025. (File) New Delhi: E-commerce major Amazon on Monday said it will make an initial investment of $3 million in nature-based projects in India. The allocation is part of the company’s $15 million fund it has allocated for nature-based projects in…

Business

Honda to roll out 5 SUVs in India by 2030; enters high selling mid-sized segment with Elevate

September 4, 2023 admin

Honda Elevate | Photo Credit: S. Muralidhar Honda Cars India plans to introduce five sports utility vehicle in the country by 2030 as it looks to have a strong presence in the robustly growing segment, according to a top company executive. The company, a wholly-owned subsidiary of Japanese auto major Honda Motor Company, on Monday…

Business

Reliance Jio seeks up to $2 billion loan to fund 5G plan: report

September 4, 2023 admin

Representational image | Photo Credit: Reuters Jio Infocomm, the telecom wing of Reliance Industries, is in talks to raise up to $2 billion in offshore loans, with BNP Paribas acting as lead arranger, to fund the purchase of 5G network gear from Ericsson, the Economic Times reported on Monday. BNP Paribas will provide $1.9 billion-$2…

Business

SBI’s eRupee Can Now Be Accessed Via UPI

September 4, 2023 admin

SBI was among the first few banks to participate in the RBI’s retail digital e-rupee project (File) New Delhi: The State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency (CBDC). With this move, the bank aims to deliver unprecedented convenience and accessibility…

Business

Rupee falls 15 paise to 82.77 against US dollar

September 4, 2023 admin

Representational image | Photo Credit: PTI The rupee depreciated 15 paise to 82.77 against the U.S. dollar in early trade on Monday as firm crude oil prices weighed on investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.71, then touched 82.77, registering a decline of 15 paise over its last close….

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