Jio Financial Services To Become A Non-Banking Lender
According to Reliance Industries Ltd., its financial services business shares will be listed soon. The company aims to make its recently carved-out unit the biggest non-banking lender in India by utilising the power of its digital and retail businesses. Further, Reliance chairman Mukesh Ambani recently released the annual report for the financial year that concluded…
Yash Sharma
Data Protection Bill: Fine of Rs 250 Crore for Data Breaches
The Indian government introduced the Digital Personal Data Protection Bill, 2023, in the Lok Sabha to safeguard private data. It includes penalties of up to Rs. 250 crore for data breaches. Digital platforms must obtain explicit consent from users before processing their data and allow them to withdraw consent anytime. Exceptions to consent include medical…
Morgan Stanley Increases India’s Rating, China Faces Downgrade
Global brokerage Morgan Stanley has upgraded India to an overweight rating in its latest report. India has surged its rank from sixth to first, with more favourable valuations than in October. The country benefits from foreign direct investment (FDI) and portfolio flows bolstered by multipolar world trends. India’s reform and macro-stability agenda supports a positive…
IT Sector, Oil & Gas And Others Saw Fluctuations In Jobs
July 2023- The IT sector of India witnessed a sharp decline in employment opportunities. The overall drop in new jobs recorded 46 per cent compared to the previous year, according to the Naukri JobSpeak Index released on Tuesday. Even the job posting for White Collar jobs in July stood at 2,573, which is 8 per…
Walmart Purchased Tiger Global stake Worth $1.4 Billion in Flipkart
Walmart Inc., an American multinational retail corporation, has made its move to India as it’s reported by the Wall Street Journal on Sunday (July 30, 2023) that the company has purchased a major stake in Flipkart, one of India’s most popular e-commerce firms. It is also reported that the brand has made a payment of…
FPIs Commanded For the Submission of LEI by SEBI
On July 27, SEBI (The Securities and Exchange Board of India) made a compulsion to submit the LEI (Legal Entity Identifier) details for all the FPIs (Foreign Portfolio Investments). What is LEI? It’s a unique code made of 20 characters which is used to identify various financial entities globally. To date, LEI is only an…
Jio BlackRock: New Investment Solutions for India’s Investors
BlackRock and Mukesh Ambani-led Jio Financial Services (JFS) have announced a strategic collaboration to venture into India’s asset management space. The partnership aims to create a 50:50 joint venture named “Jio BlackRock,” combining the strengths and reputable brands of both companies to provide tech-enabled access to affordable and innovative investment solutions for millions of investors…
Tata Motors’ Remarkable 52-Week High on BSE
Tata Motors’ DVR share price witnessed a remarkable surge of nearly 18% on Wednesday, reaching a new 52-week high of ₹440 on the BSE. This significant spike came in the wake of an announcement made by Tata Motors the previous day, wherein the company revealed its decision to convert its DVR shares into ordinary shares….
Elon Musk’s Ambitious ‘X’ Twitter Plan
In a groundbreaking announcement on July 23, 2023, Elon Musk, the CEO of SpaceX and Tesla, revealed plans to overhaul Twitter’s iconic blue bird logo and replace it with an “X” logo. The move is part of his grand vision to create a comprehensive “one-stop shop” app that combines the functionalities of social media and…
Business Trifecta: From New Launch to Bankruptcy
Here is the top business news for the day. JioBook: The Ultimate Learning Partner – Launching July 31! Reliance Jio is gearing up to launch the JioBook laptop on July 31, as hinted by an Amazon teaser. Touted as the “ultimate learning partner,” the JioBook aims to cater to users of all ages, addressing productivity,…
