BUSINESS
RBI Issues Warning Against Fraud Using KYC Trick; Urges Vigilance Among Financial Consumers
Fraudsters typically employ various tactics, such as phone calls, SMS, or emails, to manipulate individuals into disclosing personal information, account details, or installing unauthorized apps via links provided in the messages. These communications often create a false sense of urgency, threatening customers with account freezing, blocking, or closure if they do not comply.
Morgan Stanley Positively Surprised by Interim Budget's Fiscal Deficit Target
The Budget has demonstrated a commitment to macroeconomic stability by achieving a lower-than-anticipated fiscal deficit and government borrowing. This approach is expected to create room for the private sector to drive capital expenditure (capex) growth.
Mark Zuckerberg Ranks Fifth Among World's Richest Individuals After Meta Share Price Surges
Zuckerberg, who holds a 13% stake in Meta, is poised for further wealth growth in the coming days, fueled by the remarkable surge in the company's shares. Meta's decision to declare its first-ever dividend, coupled with a substantial rise in revenues, contributed to a 15% increase in shares during post-market trading on Thursday.
Jeff Bezos Plans to Sell 50 Million Amazon Shares Over the Next 12 Months
The filing, reported by Fox Business, highlighted that Bezos, who recently turned 60, owns nearly one billion shares of Amazon stock. Seven other top Amazon insiders also outlined trading plans for selling Amazon shares in the SEC filing, though Bezos's plan involved the largest number of shares. The divestment of Amazon shares constitutes a significant portion of Bezos's impressive $193.3 billion personal fortune.
Fitch Asserts: Faster Pace of Fiscal Deficit Reduction Does Not Significantly Alter India's Credit Profile
In the interim Budget 2024-25 presented in Parliament, the government revised down the current fiscal year's fiscal deficit to 5.8% from the earlier budgeted 5.9%. The deficit is anticipated to decrease to 5.1% in 2024-25 and further to 4.5% by 2025-26, showcasing a commitment to gradual fiscal consolidation even during an election year.
IMF Managing Director Highlights India's Success Grounded in Pursuit of Reforms Over the Years
She identified India's digital initiatives, including digital public infrastructure, digital ID, and the emphasis on making digital a comparative strength, as significant advantages. Georgieva commended India for recognizing the need to enhance female participation in the labor market and Prime Minister Narendra Modi's commitment to empowering Indian women economically.
Centre's Tax Revenue Distribution: Uttar Pradesh and Bihar Expected to Receive Lion's Share
In contrast, Tamil Nadu, where the ruling party DMK has voiced concerns about perceived unequal treatment from the Central government in tax revenue sharing, is slated to receive Rs 49,754.95 crore. This places Tamil Nadu after Rajasthan, which is expected to receive Rs 73,504.11 crore, and Odisha, set to get Rs 55,231.76 crore.
RBI Announces 97.5% Return of Rs 2,000 Banknotes: Latest Update on Currency Circulation
Since the withdrawal announcement, the facility for the exchange of Rs 2,000 banknotes has been accessible at the 19 Issue Offices of the Reserve Bank. Notably, starting from October 9, 2023, these RBI Issue Offices have also been accepting Rs 2,000 banknotes from individuals and entities for deposit into their bank accounts.
Government Sets FY'25 Disinvestment Target at Rs 50,000 Crore; Expected to Receive Rs 30,000 Crore in the Current Fiscal Year
With respect to disinvestment, the government has thus far collected Rs 12,504 crore in the current fiscal year through minority stake sales in 7 Central Public Sector Enterprises (CPSEs), including notable entities like Coal India, NHPC, RVNL, and IREDA. The government aims to generate a total of Rs 30,000 crore from disinvestment by March.
Government Unveils Housing Scheme to Assist Middle Class in Homeownership, Targets 2 Crore Additional Rural Houses: FM Sitharaman
Despite the challenges posed by the COVID-19 pandemic, the implementation of the PM Awas Yojana (Grameen) has continued, with the government nearing the target of three crore houses. To address the increasing demand due to the rise in the number of families, the government aims to take up the construction of an additional two crore houses in the next five years.
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