BUSINESS
Indians' overseas financial assets fell $43.9 bn in July-Sep: RBI report
At the same time, an increase was seen in trade credit, currency and deposits as well as overseas direct investment, the report said. According to the report, net claims of non-residents on India rose by $34.3 billion during the second quarter of 2022-23 and stood at $389.6 billion in September 2022.
India mulls prohibiting unbacked crypto assets in G20 presidency
In its latest Financial Stability Report (FSB), the central bank said that crypto assets are highly volatile. "The collapse and bankruptcy of the crypto exchange FTX and subsequent sell-off in the crypto assets market have highlighted the inherent vulnerabilities in the crypto ecosystem," according to the report.
Output of 8 core industries rises 5.4% in November
In November 2022, coal production with a weightage of 10.33 per cent, grew by 12.3 per cent over corresponding period. From April to November 2022, compared to the same period the year before, its cumulative index rose by 17.2 per cent. However crude oil output, which has a weightage of 8.98 per cent in the index, fell by 1.1 per cent in November 2022 as compared to corresponding period of last year.
Government hikes interest rates of post office savings schemes, PPF and Sukanya Samriddhi rates unchanged
Rates for deposits up to 5 per cent as well as NSC, senior citizen savings scheme and KVP have been hiked by up to 1.1 percentage points, according to a Finance Ministry notification. The changed interest rates would be applicable between January 1, 2023 and March 31, 2023.
India's April-November fiscal deficit widens to 58.9% of 2022-23 target
As per Controller General of Accounts (CGA) data, the revenue deficit stood at Rs 5.73 lakh crore, or 57.8 per cent, of the current fiscal's target of Rs 9.91 lakh crore. The government's total expenditure was Rs 24.43 lakh crore, or 61.9 per cent, of the Budget's target of Rs 39.45 lakh crore, as per the data.
SEBI: Many Mumbai IT defaulters operated from dingy 'chawls'!
In a new announcement, the SEBI has published a black-list of 'untraceable defaulters', some who are missing since 2014, and hence it has been unable to serve them the Notices of Demand. A few of the SEBI listers operating from tenements are: Prakash Gaurishankar Joshi, from Dilkhush Chawl No. 3 in Borivali east, untraceable since August 2018; Ashok Bhagat of H-19 Ramji Gupta Chawl in Santacruz west, unavailable since June 2014 and for another demand notice since August 2019. There is also Mahesh Mistry with an address at No. 1 Manraj Driver Chawl in Andheri east, and other addresses at Marine Lines, Fort, Vile Parle and in Thane, out of bounds since July 2014, August 2018 and May 2019 for multiple demand notices that remain unserved.
Madhuri Jain Grover pays Rs 1.15 cr advance tax, still remains 'housewife' on Golden Dubai visa
Madhuri Jain Grover's Golden Dubai visa, issued in September 2021 and seen by IANS, clearly mentions her occupation as "House Wife" in the name "Madhuri Grover Suresh Jain" (Jain is Madhuri's father). At the time of visa issuing, Madhuri Jain was working at BharatPe as Head of Controls. She has been an entrepreneur since 2000 and worked as senior fashion designer for years, before joining BharatPe in 2018. At BharatPe, she managed, HR, finances and other internal operations.The 10-year Golden Dubai visa is a long-term residence visa which enables people to live, work or study in the UAE while enjoying exclusive benefits.
Ashneer targets Sequoia Capital India, raises Zilingo's sacked CEO Ankiti's 'ordeal'
In a series of tweets, Grover posted a short audio interaction between Ankiti and him, where she can be heard discussing a 220-page report on Singapore-based fashion-tech startup Zilingo and the fraud allegations, which was never made public. Sequoia Capital India backed both BharatPe and Zilingo.
Centre receives Rs 903 cr as dividend from Indian Railway Finance Corporation
Department of investment and public asset management (DIPAM) tweeted the information through the Twitter handle of DIPAM secretary Tuhin Kanta Pandey. It further informed that Rs 503 crore and Rs 66 crore have also been received from Hindustan Aeronautics Ltd (HAL) and Rashtriya Chemicals and Fertilizers Ltd (RCFL) respectively as dividend tranches.
Worst months for layoffs arrive as thousands brace for job losses
According to data from the Bureau of Labor Statistics in the US, January is the highest month for layoff and discharges. "Business leaders want to set up finances for success in 2023. It's a good bet that tech companies that haven't yet laid off employees are carefully considering whether or not to do so," according to J.P. Gownder, vice president and principal analyst for advisory firm Forrester Research. "It wouldn't be surprising to see more layoffs in the next few weeks," he told Wall Street Journal. December marks the end of the fiscal year for many companies, making January an ideal month for "organisational realignment and adjustment".
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