BUSINESS
RBI Report Reveals Double-Digit Growth in Banks Fueled by Retail, Services Credit
In 2022-23, the consolidated balance sheet of SCBs expanded by 12.2%, primarily propelled by increased credit to the retail and services sectors.
RBI Greenlights C.S. Rajan as Part-Time Chairman for Kotak Mahindra Bank
Expressing gratitude for the appointment, Rajan shared his deep humility and honor in accepting the role as Chairman, acknowledging the Board's trust in him to elevate the Bank's performance and enhance stakeholder value.
Indian Workforce Shows 59% Willingness to Embrace AI: Report
However, the report by global hiring platform Indeed highlighted that only 19% of surveyed employers have initiated or are in the process of integrating advanced technologies like Generative AI into their workplaces by 2024.
Global Market Surge Propels Nifty, Sensex to All-Time Highs
All sectoral indices, except for oil & gas and power, closed in positive territory, with auto, bank, and metals sectors each witnessing a 1% rise, contributing to the overall market uptrend.
Bullish Momentum Propels Sensex Beyond Historic 72K Mark
Closing the day at 72,038.43, the Sensex witnessed a nearly 1% increase, marking an exceptional high. Simultaneously, the Nifty reached an all-time peak of 21,654.75, surging by 1% or 213 points.
Air India Offers Ticket Rescheduling or Cancellation at No Extra Cost Amid Dense Fog and Poor Visibility
This initiative, reintroduced from the previous winter season, aims to provide proactive support to affected travelers.
Private Equity and Venture Capital Investments in Domestic Companies Decline to $27.9 Billion in 2023
Interestingly, this year saw a notable increase in capital being withdrawn from the country by private equity players, totaling $19.34 billion from 248 companies.
SBI Increases Interest Rates on Fixed Deposits
The State Bank of India (SBI) has implemented an immediate revision in interest rates for specific fixed deposit (FD) tenures, increasing rates by up to 0.5%.
Hindalco Takes the Lead in Rallying Metal Stocks
According to a report by JM Financial Institutional Securities, the global aluminium market might transition from a modest deficit in 2021-22 to a potential balance within the 2023-2025 period.
RBI Releases Draft Aimed at Simplifying Licensing Norms for Money Changers
The review of the current licensing framework aims to cater to the evolving needs of India's rapidly expanding economy.
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