City Hyderabad Financial News

Delhi continued to assert its dominance in India's cryptocurrency adoption landscape, maintaining its lead in terms of the value invested. This was followed by the IT hubs Bangalore and Hyderabad. Recent data from CoinSwitch report reveals that Delhi boasts the highest percentage of cryptocurrency investors in the country. However, the phenomenon extends beyond Delhi's borders, with other cities like Hyderabad, Pune, and Jaipur also witnessing a surge in crypto adoption.

With the fundamentals of the Indian economy remaining strong despite all global headwinds and inflation well under control, the RBI once again decided to keep the repo rates unchanged at 6.5%, thus extending the festive bonanza that it gave to the homebuyers in its last two policy announcements. Thus, homebuyers retain their advantage of relatively affordable home loan interest rates.

Microsoft CEO Satya Nadella has urged more than a thousand Indian computer code developers to use the company’s artificial intelligence tools being deployed across its products

Today’s homebuyers should look to invest in property along the lines of metros and expressways in the city outskirts to access premium properties in an affordable manner. Considering the rapid expansion of cities such as Mumbai, Bengaluru and Hyderabad, homebuyers and investors should make use of the early mover advantage to invest in properties before land rates spike, says Bhavesh Kothari, Founder & CEO, Property First.

Mint explains how the rental story may play out: Residential rents have seen a remarkable turnaround post-pandemic. Last year, average monthly rentals in parts of the top 7 cities soared over 30%, according to Anarock Property Consultants. Bengaluru saw the steepest rise, with high demand due to the ‘back to office’ mandate by firms, and low supply of ready projects.

RBI deputy governor Swaminathan J countered the popular notion that a small entity like an Urban cooperative Bank (UCB) is not systemically important and underscored the importance of governance standards among others to strengthen them. “Some may argue that UCBs are not systemically important in view of their size and turnover” RBI deputy governor Swaminathan J.” However, if we consider the inter-connectedness that binds the entire spectrum of financial entities, it becomes evident that any vulnerable link has the potential to erode public trust and confidence” Mr Swaminathan J said in his speech titled “ Urban Co-operative Banks: Upholding Governance and Professionalism with Capacity Buidling and Technology Upgradation” delivered to the South based UCBs at Hyderabad last week. In an increasingly interwoven financial landscape, the ripples of even an apparently small disturbance can resonate far beyond its initial impact, said citing that the failure in 2001 of a Gujarat based UCB and more recently in 2019 to a Mumbai based UCB attest to the contagion risks posed by even relatively smaller banks. UCBs form a critical layer of the financial system of the country. Despite the sector's consistent 3-4% presence in the overall banking business, its significance should not be underestimated, he said.

Mindspace Business Parks REIT has leased office spaces spread over 4.5 lakh sq ft in the quarter ended December, taking its cumulative leasing for the nine months of the current financial year to 1.6 million sq ft. The REIT has witnessed a robust trend of expansionary demand with over 80% of the new and pre-leasing by existing occupiers across various sectors. Of the total fresh leases, it has re-leased 4 lakh sq ft office space at a 17.1% higher rent during the quarter.

Indians now constitute one-tenth of all US visa applicants globally, with demand skyrocketing across all visa categories, witnessing a remarkable 60 per cent surge compared to the previous year. «In 2023, the US Embassy and Consulates in India processed a record-smashing 1.4 million US visas. Demand across all visa classes was unprecedented, with a 60 per cent increase in applications compared to 2022. Indians now represent one out of every ten US visa applicants around the world,» a statement by the US Embassy and Consulates in India said. Visitor visas (B1/B2) experienced a notable resurgence, representing the second-highest number of applications in the history of the US Mission, surpassing 700,000. The United States has ramped up staff in India whoch have led to a remarkable reduction of appointment wait times from an average of 1,000 days to a mere 250 days nationwide, across all visa categories. The US consular team in India achieved another milestone by issuing over 140,000 student visas in 2023, setting a record for the third consecutive year. Mumbai, New Delhi, Hyderabad, and Chennai emerged as the top four student visa processing posts globally, solidifying Indian students as the largest cohort of international graduate students in the United States, constituting over a quarter of the one million foreign students in the country.

Rolls-Royce Plc has formalized a pivotal seven-year agreement with Azad Engineering, based in Hyderabad, aimed at the production and supply of intricate components crucial for its defense aircraft engines. Azad Engineering's disclosure to the bourses on Monday underscored the strategic significance of this collaboration, positioning the company within the global supply chain for the intricate components essential to Rolls-Royce’s cutting-edge aero engines. Expanding Global Footprint: Under the seven-year commitment, Azad Engineering will play a key role in manufacturing and supplying critical engine parts designed for Rolls-Royce’s defense and military aircraft engines.

IDFC First Bank Test against England in Vizag, starting February 2. Ravindra Jadeja sustained a hamstring injury during play on Day 4 of the first Test in Hyderabad while KL Rahul complained of a right quadriceps pain.

ALSO READ: India vs England 1st Test Day 4 Highlights Looking at the WTC points table, Australia top the list with a PCT of 55 despite losing the second Test against West Indies in Gabba. While speaking at the post-match presentation after beating India by 28 runs on Day 4 of the first Test in Hyderabad, England skipper Ben Stokes said, as quoted by ESPN Cricinfo, that it is their 100 percent greatest victory.

Anand Mahindra took to social media site X (formerly known as Twitter) to share some personal advice with armies across the world when it comes to engaging against the Indian Army. "Some personal advice to other armies: Don’t ever.. EVER… mess with these guys…" the Mahindra Group Chairman wrote.

₹25 for 5 km, ₹50 for 10 km and ₹75 for 15 km. Apart from Delhi, Ola is planning to start the e-bike service in Bengaluru as well. Ola has set up 200 charging stations in Bengaluru to service its e-bike fleet.

NDTV Sports. Agarwal was unbeaten on 323 off just 160 balls, which is the seventh-most runs scored by any batter in a single day's play in first-class cricket. Also, it was the second-fastest triple ton when it comes to minutes, added the report.

Hyderabad's Tanmay Agarwal rewrote the record books in a Ranji Trophy Plate Group game against Arunachal Pradesh. Agarwal's extraordinary knock saw him score an unbeaten 323 runs off just 160 balls, setting a new record for the fastest triple century in the history of first-class cricket.

Ride-hailing company Ola Mobility plans to deploy 10,000 electric two-wheelers across three cities in the next two months and gradually scale up its service across the country by the end of year. The company on Friday announced the launch of e-bike service in Delhi and Hyderabad. In September 2023, Ola had launched a pilot project of e-bike service in Bangalore.

₹1,514.4 crore in 2022, and it is projected to reach ₹2,762.7 crore by 2028, demonstrating a noteworthy compound annual growth rate, or CAGR, of 10.6% during the period from 2023 to 2028. While India’s diabetes care drugs market size is estimated at $1.7 billion in 2024, and is expected to reach $2.01 billion by 2029, growing at a CAGR of 3.5% during 2024-2029, according to Mordor Intelligence, a market intelligence and advisory firm. The company is also reported to be in dialogue with multinational corporation Eli Lilly for its GLP-1 class of drugs.

England's 'bazball' is set to face its biggest challenge as they gear up to face India on Thursday in the first Test of a five-match series on a likely spinning surface here which promises to test the batters' technique to its maximum potential. India skipper Rohit Sharma already stated that the way England plays isn't their concern but the story of the five-match series will be 'Bazball' against spin. The last time England ended with a series win on Indian soil was in 2012 when Alastair Cook and Kevin Pietersen batted to perfection but the series fell in the visitors' favour because of Monty Panesar, Graeme Swann and James Anderson's heroics with the ball.

bus ticketing platform AbhiBus said on Wednesday it has seen an 86% month-on-month increase in travel demand to Ayodhya, particularly among Gen Z travellers. The company said the surge reflects a 'significant' trend of enthusiasm and spiritual inclination among the younger generation to visit the Ram Mandir.

ALSO READ: India vs England: ENG's Shoaib Bashir ruled out of 1st Test due to visa issues, Ben Stokes calls it ‘very frustrating’ Shoaib Bashir, a British Muslim of Pakistani descent, faced visa issues amid England embarking on India's tour for a five-Test series. With his teammates proceeding to Hyderabad for the first test after a training camp in Abu Dhabi, the young cricketer remained in the Emirate and later returned to England to seek the necessary approval at the Indian embassy. Meanwhile, a spokesperson for UK Prime Minister Rishi Sunak said the government expects British citizens to be treated fairly by India's visa processes.

India vs England Test Series: India's dominance at home over the last 12 years will be put through its most unique examination till date when Rohit Sharma's side faces a trend-defying England in the first match of what promises to be a stirring five-Test series from tomorrow. England was the last team to win a test series in India — back in 2012 under Alastair Cook. Since then, India is unbeaten at home — losing only three of 44 tests on home soil in the last 11 years.