BUSINESS
Moody’s Raises India's GDP Growth Projection to 7.2% for 2024
The rating agency said household spending would increase as inflation approaches the target of the Reserve Bank of India. Better farming output because of above-average rainfall in the current monsoon season is driving early signs of pick-up in rural demand. "This projection is supported by solid, all-inclusive growth", said Moody's in a statement, adding that further upward revision to their forecast will be done if private consumption grows further.
Reliance to Discuss 1:1 Bonus Share Issuance on September 5
The company, which stands as India's most valuable, previously issued bonus shares in September 2017.
Adani Enterprises to Debut Rs 800 Crore Retail Bond Issue on September 4
The base size issue is Rs 400 crore, with an option to retain oversubscription up to Rs 400 crore (green-shoe option) - aggregating up to Rs 800 crore. The issue opens on September 4 and shall close on September 17, with an option of early closure or extension, said the flagship company of the Adani Group. The minimum application size for each application for NCDs would be Rs 10,000 across all series collectively and in multiples of Rs 1,000 thereafter. With an effective yield of up to 9.90 per cent per annum, the NCDs are proposed to be listed on BSE Limited and NSE Limited.
India's Billionaire Count Reaches 334 with Gautam Adani and Family Leading: Hurun List Revealed
Ranked at second position is Mukesh Ambani with Rs 10,14,700 crore wealth. He is followed at third position by Shiv Nadar and family, having a net worth of Rs 3,14,000 crore.
NPCI Chief Predicts UPI Transactions Will Reach 100 Billion in the Next Decade
We are looking at 100 billion transactions in the next 10-15 years which is a fairly achievable number. And, credit is going to be the backbone of this growth," Asbe said at the Global Fintech Fest here. He pointed out that credit has already been launched on UPI and the commercials would be released within a couple of weeks.
Paytm Stock Rises 5% Following Government Approval for Investment in Paytm Payments Services
The stock was last trading at Rs 565.05 on the BSE, while on the NSE it surged 4.98% to Rs 564.80 a share.
Sensex Holds Steady Amidst Negative Global Trends
During the early trading hour, the overall trend of the market was positive. On the NSE, 1,134 shares were in the green while 759 shares in the red.
Vodafone Idea Ordered to Pay Rs 15.19 Crore GST and Rs 1.51 Crore Penalty
VIL said it does not agree with the order and will take appropriate legal action.
NCAER Reports Indian Economy Stays Resilient Despite Global Uncertainties
Bank credit growth of scheduled commercial banks moderated both food and non-food, in June 2024, the report said. Personal loan credit growth and bank credit for the services sector has decelerated, it also said.
RBI Governor Das Prioritizes Global Expansion of UPI and RuPay
Das pointed out that Bhutan, Nepal, Sri Lanka, Singapore, the UAE, Mauritius, Namibia, Peru, France and many others have made enough progress. He congratulated the NPCI and his colleagues in the Reserve Bank for what they have been able to achieve so far, but underlined that much more needs to be done in this national project.
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