BUSINESS
March Sees Core Sector Industries Surge by 5.2%
Indeed, cement produced turned out to be a star performer, increasing by a remarkable double-digit growth of 10.6 percent, driven by increased demand from major infrastructure projects and a rebounding real estate sector. Steel production also increased by 5.5 percent in the period.
India's Per Capita GDP Surges Ahead, Defying Pre-2014 Decline Against Peers
Intriguingly, India's GDP growth has impacted not only per capita income, an indicator of one's living standard, but has also gone ahead to add an increase to India's per capita GDP. For instance, the per capita GDP for India in 2004 was US$ 635, being 35 percent of the average US$ 1,790 per capita GDP of 150 emerging market and developing economies, including its peers, China, Russia, and Brazil.
Samsung's Q1 Earnings Surge as Semiconductor Division Returns to Profitability
The world's largest maker of both smartphones and memory chips posted an operating profit of 6.6 trillion won ($4.8 billion) for the January-March period, nearly double from the same period last year.
India's Gold Demand Up 8% in Jan-March Despite Price Hikes
Jewellery demand in India grew a modest 4% to 95.5 tons, up from 91.9 tons, while investment demand, including bars, coins and others, spiked 19% to 41.1 tons from last year's 34.4 tonnes.
Government Bonds Valued at Rs 28,000 Crore Set for Friday
The offering will be divided into three lots. The first lot consists of "7.33 per cent Government Security 2026" worth Rs 6,000 crore, and the second lot, namely "7.23 per cent Government Security 2039," is worth Rs 10,000 crore, and the third lot, namely "7.34 per cent Government Security 2064," is worth Rs 12,000 crore.
Uttarakhand Government Takes Action Against Patanjali: 14 Product Licenses Revoked, Criminal Complaint Filed
The affidavit states that State Licencing Authority has issued a public notice, and henceforth, anyone who will publish advertisements against the law would face severe legal action. It stated that the notice includes fines, imprisonment, or both.
RBI Cracks Down on Unfair Loan Practices, Urges Banks to Cease Excessive Interest Charges
Highlighted in its circular, the RBI flagged certain unfair practices uncovered during onsite examinations of regulated entities such as banks, NBFCs, and housing finance companies, conducted for the period ending March 31, 2023. The circular emphasizes the imperative of fairness and transparency and mandates all regulated entities to scrutinize their practices concerning loan disbursal methods, interest application, and other charges. They are urged to take corrective measures, including system-level adjustments, to rectify the identified issues.
RBI releases draft guidelines for digital lending to improve the experience for borrowers
LSPs — companies engaging in activities on behalf of banks or NBFCs in the manner of customer acquisition, underwriting, and loan recovery in the digital environment — form the target segment of the guidelines. In the meanwhile, it is noted that in certain cases, a regulated entity may also operate as an LSP.
xAI, Elon Musk’s AI company raise to $6 billion: Report
The firm, founded by the tech tycoon, is about 10 months old company by the tech billionaire, which has unveiled an AI chatbot called ‘Grok’, to the world. According to TechCrunch, citing some insider information, the deal is expected to be sealed in the coming weeks.
Won't divest stake in TikTok: Asserts Chinese Parent Company to US
In a social media post, ByteDance, the parent company of TikTok, stated that it has no intention of selling its stake in TikTok, thus responding to earlier reports by The Information that ByteDance was reportedly considering selling its US operations.
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