BUSINESS
Apple Set to Exceed $400 Billion in Global Revenue for the First Time in 2024: New Report
Hardware sales for Apple should grow 3% this year after revenue declined in 2023. Growth is expected to be supported by strong performances across all key hardware categories of the iPhone, iPad, Mac, Watch, and AirPods; the latter is where the fastest growth is expected.
US Private Banks Encouraged to Adopt UPI for Quicker Digital Payments: Fed Reserve Governor
Addressing the 'Global Fintech Fest' in the financial capital, he said that although the US does not have enough banks connected to make a full-service product, "we have some private banks which can connect to the UPI," and for this, "we first need to build a compelling value proposition for such an integration.
Nifty Soars to Record Highs, Driven by Leading IT Stocks
At 1.23 p.m., Sensex was trading up 233 points or 0.28 percent at 81,943 and Nifty up 84 points or 0.34 percent at 25,102.
PM Modi Celebrates 10 Years of Jan Dhan Yojana and Its Impact
"Today, we mark a momentous occasion – #10YearsOfJanDhan. Congratulations to all the beneficiaries and compliments to all those who worked to make this scheme a success," the prime minister said.
ZF Group to Inject Over Rs 18,700 Crore into Indian Market
The ZF Group expects its sourcing of parts from India for global and local demand to reach 2 billion euros annually by 2030.
Sensex Holds Steady Amid Global Market Weakness
The leading pack is from the midcap and smallcap stocks, which are outperforming their largecap peers. At 10:20 am, the Nifty Midcap 100 index is trading at 55,429 levels, up 183 points or 0.33%. On the other hand, Nifty Smallcap 100 is quoting at 18,334 levels, up 35 points or 0.20% on an intraday basis.
PMJDY Emerges as Global Leader in Financial Inclusion, Says Nirmala Sitharaman
The Finance Ministry said the number of PMJDY accounts has increased 3.6 times, from 156.7 million in March 2015 to 531.4 million as of August 14. Union Finance Minister Nirmala Sitharaman said that everyone must be given access to formal banking services universally and at affordable costs if the country is aiming for financial inclusion or financial empowerment. This, she said, mainstreams the economically deprived sections and is essential for the development of such denied sections of society.
FM Sitharaman Reports 53 Crore Jan Dhan Accounts Established Over a Decade
Sitharaman added that the average balance per account has also increased substantially from Rs 1,065 in March 2015 to Rs 4,352 as of today, of which around 80 percent of these accounts are operative. She said, "66.6 percent of total accounts have been opened in rural and semi-urban areas and 29.56 crore accounts are held by women," indicating large-scale operability of PMJDY accounts. She maintained that a very small percentage of accounts has zero balance-only 8.4 percent-and there has been no requirement for maintaining minimum balance in the accounts under the scheme.
India Set to Overtake as World's 3rd Largest Economy: Ashwini Vaishnaw
As the current largest economy with a US dollar economy valuation of $28.8 trillion, the United States is expected to grow at only 2.6 percent-that positions it seventh in the lineup of economic growth.
Nifty Surpasses 25,000 Mark for Second Consecutive Session
There was considerable buying in the mid-cap and small-cap space compared to the large caps. The Nifty Midcap 100 index was at 59,220, up 289 points or 0.49%, and the Nifty Smallcap 100 index was at 19,333, up 201 points or 1.05%.
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