BUSINESS
IIP growth falls to 3.7% in June
According to data released by the Ministry of Statistics and Programme Implementation on Friday, in April, the IIP stood at 4.2 per cent.
Except for PSU bank and consumer durables, all sectors end in red
Nifty witnessed selling pressure for the second consecutive day to close with a loss of 115 points (-0.6 per cent) at 19,428, while Sensex fell 365.53 points (-0.56 per cent) to 65,322.65
Nifty down for third consecutive week
He said that on Wednesday, Nifty built on the weakness from the previous session.
Crypto trading platform Bittrex, ex-CEO to pay $24 mn to settle SEC charges
Bittrex’s foreign affiliate, Bittrex Global GmbH, also agreed to settle charges that it failed to register as a national securities exchange. “For years, Bittrex worked with token issuers to 'scrub' their online statements of any indicia that they were investment contracts -- all in an effort to evade the federal securities laws. They failed,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement.
Sensex down more than 300 points
But the market is likely to remain strong, with banks, capital goods and autos likely to do well, going forward, he said. Inflation data from the US indicate that the soft-landing narrative is intact. The Federal Reserve is likely to pause in September. This will support global equity markets.
PSU bank stocks best performers in trade while private sector banks down after RBI raises CRR provision
On the other hand, PSU banks are flying. Indian Overseas Bank is up more than 11 per cent, Central Bank of India is up more than 7 per cent, UCO Bank is up more than 5 per cent, Punjab and Sind Bank is up 4.8 per cent, Bank of Maharashtra is up more than 3 per cent, Bank of India is up more than 3 per cent.
One-third of large corporates didn't raise 25% of borrowings through debt securities
SEBI had mandated large corporates (LCs) to raise at least 25 per cent of their incremental borrowings during a financial year (FY) by issuing debt securities. This measure was envisaged to assist in deepening the corporate bond market in India. SEBI has been monitoring compliance by the LCs with the provisions of the LC chapter.
RBI’s user friend technology focus on UPI in move towards cashless economy
According to RBI, the UPI has transformed the digital payment ecosystem in India. As AI is becoming increasingly integrated into the digital economy, conversational instructions hold immense potential in enhancing ease of use, and consequently reach, of the UPI system, it said.
Amazon says digitised 62 lakh MSMEs, created over 13 lakh jobs in India to date
Amazon had pledged to digitise one crore (10 million) MSMEs, enable $20 billion in cumulative e-commerce exports and create 20 lakh (2 million) jobs in India by 2025 and is well on track to fulfil these pledges.
Indian startup workers get average salary hike of 8 to 12% in 2022-23: Report
According to the venture capital firm Elevation Capital, the performance of employees continued to hold 50 per cent of the weightage on salary increments while taking on additional responsibilities and receiving a promotion factored in about 20 per cent.
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