BUSINESS

According to the directive, every regulated entity, including banks and housing finance firms, must furnish a KFS to prospective borrowers prior to finalizing the loan agreement. These statements will adhere to a standardized format provided by the RBI and will be presented in simple language comprehensible to the borrowers. It is crucial that the contents of the KFS are explained to the borrower, and their understanding is acknowledged.

According to data from stock exchanges, the value of LIC's investments in seven Adani group companies has escalated from Rs 38,471 crore as of March 31, 2023, to Rs 61,210 crore on March 31, 2024, marking a noteworthy increase of Rs 22,378 crore.

In total, around $172.71 million was raised collectively by 30 startups in both early and growth stages in the preceding week. Among the growth-stage deals, six startups managed to raise $54.5 million, with the compliance automation platform Sprinto leading the pack with a substantial funding of $20 million. Following closely were Recykal, a B2B waste management and recycling marketplace, AVIOM HFC, Axio, and 5C Network, securing $13 million, $10 million, $6 million, and $3 million respectively.

A statement released by the Executive Board's coordinators, Afonso S. Bevilaqua and Abdullah F. BinZarah, confirmed the decision, highlighting Georgieva's exceptional leadership during her first term in navigating significant global challenges.

Of particular significance is the performance of the manufacturing sector, which serves as a crucial source of employment for recent engineering and university graduates. This sector recorded a solid growth rate of 5 percent during the same period.

This marks the seventh consecutive week witnessing a notable increase in the overall reserves. In the previous week ending March 29, the forex reserves had escalated by $2.95 billion, following a cumulative rise of $26.5 billion over the preceding five weeks.

The funds raised will be instrumental in facilitating Vodafone Idea's efforts to bolster its 4G services, prepare for the much anticipated 5G rollout, and address pending vendor dues. This strategic maneuver comes at a critical time for the company, which has been grappling with a significant loss of subscribers and persistent quarterly losses, weighed down by a massive debt of Rs 2.1 lakh crore.

The total funding infusion into the fintech arena saw a remarkable surge of 59 percent in Q1 2024 when juxtaposed with Q4 2023, underscoring the resilience of India's fintech domain amidst a dynamically evolving economic milieu.

In a recent statement shared via X, Musk revealed his excitement about the scheduled encounter with PM Modi, set to take place during the week of April 22 in New Delhi, as reported by various media outlets.

Comparing this remarkable figure with previous years reveals a significant upward trend. In the fiscal year 2022-23, inflows through SIPs amounted to Rs 1.56 lakh crore, while it stood at Rs 1.24 lakh crore in 2021-22 and Rs 96,080 crore in 2020-2021, according to data provided by the Association of Mutual Funds in India (Amfi). This consistent growth trajectory underscores the increasing popularity of SIPs as a preferred investment route among investors.