Category: Business & Economics

Paytm Simplifies Financial Management with UPI Statement Download

Manish Kumar

One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services distribution company and the pioneer of mobile payments, QR, and Soundbox, has launched a new UPI statement download service. This innovative service empowers users to monitor and manage their spending by allowing them to easily access their transaction records for any date range or financial year in a simple, downloadable PDF format (Excel format to be introduced soon). As digital payments gain popularity, this functionality meets the evolving needs of Paytm users who seek transparency…

Sensex Soars Over 1,000 Points as Trump Declares Victory in U.S. Presidential Election

Manish Kumar

Indian stock markets experienced a robust rally on Wednesday after former President Donald Trump declared victory in the U.S. elections. Amid a close race between Trump and his opponent, Kamala Harris, the announcement lifted market sentiment, easing some of the volatility seen earlier in the session. Major indices like the Sensex and Nifty saw impressive gains, driven largely by the rally in IT stocks, as investors anticipated potential benefits for the Indian economy. Market Reaction: Sensex and Nifty Rally Strongly As of 2:28 p.m., the S&P BSE Sensex had surged…

Indian Rupee Hits Record Low as Trump Leads in US Election: What This Means for India’s Economy

Manish Kumar

On Wednesday, the Indian rupee tumbled to an all-time low of 84.23 against the US dollar following early reports from the 2024 U.S. presidential election, showing Republican candidate Donald Trump in the lead over Democrat Kamala Harris. As markets responded to the emerging political landscape, the dollar surged, putting downward pressure on the Indian rupee and other Asian currencies. This volatility could have broader implications for India’s economy, especially in areas like trade, foreign investment, and inflation. This article unpacks the reasons behind the rupee’s sharp decline, explores the potential…

Bosch to Lay Off 7,000 Employees Amid Struggles in Automotive Sector

Manish Kumar

A Challenging Year for the Automotive Industry Amid a challenging economic climate for the automotive sector, German tech giant Bosch has announced significant layoffs, citing lower-than-expected returns on sales in 2024. As a leading supplier of essential automotive parts, Bosch is expected to lay off 7,000 employees across its German plants, with a focus on the automotive supply sector. The decision reflects broader difficulties facing the automotive industry, which has seen declining revenues and cost-cutting measures from major players. Bosch’s move highlights the struggles and shifting priorities within this sector…

Stock Market Tumbles: Sensex Drops Over 1,400 Points as Investor Losses Mount Amid Record Low Rupee

Manish Kumar

In a turbulent start to the week, Indian markets witnessed a significant decline, with the Sensex dropping over 1,400 points, marking one of its sharpest falls in recent months. The Nifty50, along with other broader indices, plummeted as persistent selling by foreign investors and a mix of global factors drove the downturn. Amid the shock, the rupee further weakened, reaching a record low against the U.S. dollar. With over Rs 8 lakh crore wiped from market capitalization, investor concerns are at an all-time high as they grapple with multiple economic…

Adani Power Halves Electricity Supply to Bangladesh Over Unpaid Dues

Manish Kumar

Adani’s Recovery Amidst Financial Tensions The Adani Group, one of India’s largest conglomerates, has faced a series of setbacks this year, including allegations of stock manipulation and accounting fraud. Despite these challenges, Adani has been working to restore its financial stability and reputation. However, recent developments in Bangladesh, where Adani Power Jharkhand Limited (APJL) supplies electricity, have complicated this recovery. Citing unpaid dues amounting to $846 million, Adani Power has reduced its electricity supply to Bangladesh, which is currently experiencing an energy shortage. The situation underscores the financial strain both…

Google India Announces Rs 1,424 Cr in Profits in FY24

Manish Kumar

In FY24, Google India achieved a 26% revenue growth, surpassing Rs 5,500 crore, while profit after tax rose by 6% to Rs 1,424 crore. Operating revenue increased to Rs 5,518 crore, up from Rs 4,504 crore in FY23, as per its RoC filing.   The company also saw a significant boost in other income, which surged by 106% to Rs 403 crore, elevating its total income to Rs 5,921 crore from Rs 4,700 crore in the previous fiscal year.   At the same time, the FY 2023-24, Google India completed…

NSE Expands Digital Reach: New Mobile App and Multilingual Website

Manish Kumar

The National Stock Exchange (NSE) has launched a new mobile app and expanded its website to support multiple languages, aiming to improve investor accessibility and inclusivity across India. The initiative is intended to foster a more inclusive investor ecosystem by making market data, educational resources, and trading tools accessible in regional languages, catering to a diverse user base. The new NSEIndia mobile app, now available on both the Apple App Store and Google Play Store, is designed to provide investors with an intuitive and secure way to track and manage…

A Guide to Enrolling in Ayushman Bharat

Manish Kumar

The Ayushman Bharat Senior Citizen Scheme allows individuals aged 70 years or older to apply through the website www.beneficiary.nha.gov.in or the Ayushman App, available on the Google Play Store. To register, beneficiaries must verify their identity and eligibility using Aadhaar e-KYC, which serves as the primary document to confirm age and residence. Family members can also register eligible beneficiaries via the mobile app or website by entering their mobile number and the OTP generated for the enrollment process. Additionally, beneficiaries can visit the nearest empanelled hospital for registration. The scheme is completely…

Allianz to Exit Joint Ventures with Bajaj Amidst Partnership Dispute

Manish Kumar

Allianz is moving forward with plans to exit its joint ventures with Bajaj, a decision stemming from long-standing disagreements between the two companies. Despite a partnership that has lasted over two decades, recent developments have escalated tensions to the point where the joint ventures are on the verge of collapse. The partnership has faced various challenges over the years, but recent disputes have intensified, prompting Allianz to reconsider its involvement. The two firms have been unable to reconcile their differences, leading to this significant turning point in their relationship. Allianz…