BUSINESS
RBI ban on onboarding customers via app can affect growth trajectory of Bank of Baroda
The RBI has directed Bank of Baroda (BOB) to suspend onboarding customers through its BOB World mobile application. The move was driven by concerns regarding the processes and the manner in which BOB has acquired a large number of customers through its digital platform, the RBI said. There have been media articles recently about the process lapses at BOB in order to rapidly boost the number of digital customers.
Luxury goods witnessing strong demand, basic demand hit due to high inflation
“We believe all eyes rest on festive demand in the coming couple of months for the market to sustain momentum. 2Q24 will show the impact of volatile monsoons, flash floods in July and delayed recovery in rural and consumer demand in a few segments,” the research said.
Equity mutual funds record significant net inflows in Sep
While the overall net flows experienced a dip in various categories, it is noteworthy that thematic/sectoral funds extended their positive trend into the current month, attracting the highest net inflows.
Wipro leads Sensex rally
The fact that Nifty is just 2.5 per cent away from the all-time high indicates the strength and resilience of the market, says V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services.
Lava International MD Rai approached by Vivo China to help establish business in India, provided initial funding for setting offices, residential accommodation: ED
The Enforcement Directorate, in its remand note, alleged that Rai was well acquainted with Malik.
Will exercise all available legal options: Vivo after arrest of its 3 executives by ED
Speaking to IANS, a Vivo spokesperson said, “Vivo firmly adheres to its ethical principles and remains dedicated to legal compliance. The recent arrest deeply concerns us. We will exercise all available legal options.”
Direct tax collections rise 22% to Rs 9.57 lakh crore till Oct 9 in current fiscal, says Centre
The direct tax collections - net of refunds - was 52.50 per cent of the total budget estimates of direct taxes for 2023-24.
Byju Raveendran out of Hurun India rich list of 2023
The development comes months after investors, including US-based BlackRock and Prosus, drastically reduced the firm's valuation.
RBI bars Bank of Baroda from more customers on bob World app
"This action is based on certain material supervisory concerns observed in the manner of onboarding of their customers onto this mobile application. Any further onboarding of customers of the bank on the 'bob World' application will be subject to rectification of the deficiencies observed and strengthening of the related processes by the bank to the satisfaction of RBI," the central bank said in a statement issued on Tuesday.
Mukesh Ambani reclaims richest Indian tag, Ratan Tata has most followers on X
Ambani was ranked at the top with a wealth of Rs 808,800 crore with 2 per cent appreciation over the previous year.
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