BUSINESS
Delhi HC Orders Arbitration for Dispute Between BharatPe and Ashneer Grover
In the plea, through D.P. Singh and Deepak Gupta, the fintech company has contended that Grover has been disclosing BharatPe's confidential information on social media platforms in brazen violation of the employment agreement.
Paytm Shares Surge 2% Following Sale of Entertainment Ticketing Division to Zomato
On the BSE, the scrip traded 2.09% up at Rs 585.05 per share. On the NSE, the stock was trading at Rs 584.50 per share, up by 1.82%. It touched a high of Rs 604.70 during the day, up by over 5%, on the NSE; on BSE, it touched Rs 604.45.
Sensex Rises on Positive Global Market Signals
IT and FMCG stocks found buying interest from the opening. The Nifty IT index was up by 0.42 percent, Nifty FMCG by 0.48 percent.
EPFO Adds 19.29 Lakh Members in June Amid Employment Growth
Data shows that new enrollments for the month of June 2024 have taken place and stand at about 10.25 lakh. As compared to the previous month, May 2024, it added 4.08 percent of new members, while as compared to the same month last year in June 2023, it went up by 1.05 percent.
FM Sitharaman Urges Income Tax Department to Adopt Fair and Approachable Practices
“Let the experience of filing tax return on the first day be as good as filing it on the last day. We have to ensure that threatening language in tax notices and messages is avoided,” FM Sitharaman said.
RBI Governor Urges Banks to Address Disparity Between Credit and Deposit Growth
He further advised banks to 'keep a hawk's eye' on this issue and warned that though there is no immediate problem, it could evolve into a structural liquidity issue if not addressed. He drew attention to the tracking of changes in the investment preference of young aspirational Indians shifting out of traditional deposits to other investment options—a trend that while manageable now could prove to be a problem in terms of future liquidity.
RBI Chief: Rate Cut Depends on Sustained Inflation Alignment to 4% Target
“Any reduction in the policy rate will also be influenced by future data, with inflation being the predominant factor,” Das told NDTV Editor-in-Chief Sanjay Pugalia.
RBI Governor Urges Banks to Address Discrepancy Between Credit and Deposit Growth
Banks, in his opinion, should be sensitive to the changing investment habits of the young, aspiring Indians. While the trend away from traditional deposits into alternative instruments is not immediately threatening, it could lead to future structural liquidity problems. In this context, innovation in deposit products and leveraging the extensive branch network would become imperative for the banks to remain competitive.
Tata Group Prepares to Launch New iPhone Assembly Plant, Enhancing Apple's Presence in India
Situated in Hosur, Tamil Nadu, the new facility will become intrinsic to Tata's iPhone manufacturing. This facility is likely to generate employment for more than 50,000 people, and a vast majority of those will be women.
Sensex Rises as TCS and Wipro Drive Gains
Buying is seen in smallcap and midcap stocks. Nifty midcap 100 index is up 143 points or 0.25 per cent at 57,903 and Nifty small 100 index is 77 points or 0.41 per cent at 18,829.
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