Tag: Business

Reliance-Backed Dunzo Co-Founder Dalvir Suri Quits, Startup To Restructure

October 2, 2023 admin

Dunzo has been struggling to strike a funding deal Bengaluru: On-demand delivery platform Dunzo said today one of its four co-founders, Dalvir Suri, would leave and the cash-strapped, Reliance Industries-backed startup. It also announced an organisation-wide restructuring from this quarter. Dunzo has been struggling to strike a funding deal in the past few months and…

Business

India In Talks With More Jurisdictions On Cross-Border Payments: RBI

September 29, 2023 admin

He said India has been making efforts to tackle the challenge of the high cost of remittances. Kolkata: Reserve Bank Deputy Governor T Rabi Sankar on Friday said the high cost of remittances for countries despite the available technology was “unconscionable”, and India is in talks with more jurisdictions to make a material impact on…

Business

BYJU’s To Lay Off 3,500 Employees Overhired During Pandemic: Report

September 27, 2023 admin

Layoffs in Byjus: With this, total number of employees at BYJU’s will fall to 31,000-33,000. New Delhi: Edtech major BYJU’s may lay off up to 3,500 employees during the current fiscal as it looks to consolidate teams and enhance regional focus, sources privy to the development said. According to one of the sources, BYJU’s had…

Business

India Economy News India Among Top 3 Fastest Growing Markets In Asia Pacific In 2024 Australia China: JPMorgan

September 26, 2023 admin

JPMorgan has expanded its investment banking team in India Mumbai: India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank. “People are starting to get excited about the whole China plus one element and…

Business

Chief Economic Adviser V Anantha Nageswaran On Inclusion of Indian bonds In JPMorgan Index Will Boost Rupee Widen Investor Base

September 22, 2023 admin

He said there is potential for currency appreciation after inclusion of Indian bonds in JP Morgan index New Delhi: Chief Economic Adviser V Anantha Nageswaran on Friday said inclusion of Indian government bonds into JPMorgan’s benchmark emerging market index from next year will widen investor base, and may lead to appreciation of rupee. He also…

Business

India To Be Part Of JPMorgan’s Emerging Markets Index. Here’s What It Means

September 22, 2023 admin

Currently, 23 Indian Government Bonds are index eligible, JPMorgan said. Mumbai: JPMorgan will include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) from June 2024, the Wall Street bank said on Friday. The inclusion, a first for the country, could lead to billions of dollars of inflows into local currency-denominated government debt and…

Business

Household Debt Doubles In FY23, Savings More Than Halves To 5.15% Of GDP: SBI Research

September 21, 2023 admin

According to SBI Research, a good portion of the drawdown from savings have gone to physical assets Mumbai: The net financial savings of households plunged by close to 55 per cent in FY23 to 5.1 per cent of GDP, and their indebtedness more than doubled to Rs 15.6 lakh crore from FY21, primarily led by…

Business

Sensex Tanks 796 Points, Nifty Below 20,000 On Selling In HDFC Bank, RIL

September 20, 2023 admin

Falling for the second day running, the 30-share BSE Sensex tumbled 796 points or 1.18 per cent Mumbai: Benchmark indices Sensex and Nifty tumbled more than 1 per cent today due to selling in index heavyweights in tandem with weak global trends ahead of the US Federal Reserve’s interest rate decision. Falling for the second…

Business

Court Orders Probe Agency To Reply To Naresh Goyal’s Plea Challenging Arrest

September 20, 2023 admin

Mumbai: The Bombay High Court on Wednesday directed the Enforcement Directorate (ED) to file its affidavit in response to Jet Airways founder Naresh Goyal’s plea challenging his “illegal” arrest in a money laundering case linked to bank loan default. Goyal, in his plea, claimed his arrest was illegal as it was done without following provisions…

Business

Government Says Working On Using AI To Reduce Pendency Of Consumer Cases

September 19, 2023 admin

Consumer Affairs Ministry said it is working on using AI to reduce the pendency of cases New Delhi: The Consumer Affairs Ministry today said it is working on using artificial intelligence (AI) to reduce the pendency of cases in various consumer courts in the country. The ministry also said the National Consumer Dispute Redressal Commission…

Business