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Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...

Piyush Goyal said on Friday that India’s self-confidence and courage of conviction are vital for asserting its global position. «This belief empowers the nation to take bold actions, enabling it to tackle challenges and seize opportunities on the international stage,» Goyal said at the 13th SHRM India Annual Conference 2024. «India is emerging as a powerful and rapidly growing economy and this transformation showcases the nation's resilience and innovation, positioning it as a leader in global economic growth,» Goyal added.

RBI) diktat barring business operations of four non-bank lenders will have a significant impact on mid and small-sized NBFCs, particularly those focused on small-ticket unsecured loans, industry watchers say. These NBFCs which are already grappling with constrained funding, could see a further slowing down of business. The RBI which has been continuously flagging build up of risks in the unsecured segment had said that more than half consumer loan borrowers are repaying at least three loans simultaneously. It had also said that delinquency levels among borrowers with loans below Rs 50,000 was extremely high. «The immediate concern is that these lenders need continuous credit delivery and as these loans are unsecured, it is likely that they will face significant challenges on asset quality side and on extreme side, threaten their survival,» said Prakash Agarwal, Partner, Gefion Capital — a consulting firm. «The regulator's stance will lead to tighter funding for a broader range of players, exacerbating liquidity constraints. These business models are largely built on the need for steady flow of fresh lending and restrictions on incremental business will inevitably curtail their inflows, thereby challenging their capacity to meet existing obligations.»

Khalistani terrorists. After the Royal Canadian Mounted Police claimed a few days ago that the Lawrence Bishnoi gang active in Canada was linked to Indian government agents, India's Ministry of External Affairs pointed out the Canadian government had ignored India's request in the past to deport members of Bishnoi gang operating from Canada. Also Read: US charges ex-Indian intelligence official in foiled Sikh separatist Gurpatwant Singh Pannun murder plot

Subscribe to enjoy similar stories. As always, and more so today, in a fast-moving business world, evolving and adapting is essential for any leader to succeed. To stay relevant, they should be coachable.

Manappuram Finance are likely to remain in focus after the Reserve Bank of India (RBI) imposed restrictions on four NBFCs (including Manappuram) citing material supervisory concerns, following which, the stock earned multiple rating downgrades or target price cuts from various brokerage firms. The Central Bank on October 17 announced this regulatory action against four NBFCs and NBFC-Micro Finance Institutions (NBFC-MFIs), citing material supervisory concerns. The RBI directed these entities to cease and desist from sanctioning and disbursing loans until further notice.

Fintech firms which rely on co-lending partnerships with large non-banking finance companies (NBFCs) could be in for more stress, after the Reserve Bank of India’s action on Navi and DMI Finance on Thursday, industry executives told ET. Fintechs typically charge higher interest rates given they cater to the sub-prime category of customers, offering them unsecured credit. With the RBI raising this issue of usurious interest rates, platforms might need to tweak their models. In the fintech world, interest rates can climb up to 35%-40% per annum, depending on the borrower profile. While banks and NBFCs partnered with such fintechs given the demand in the market, this might come to a grinding halt now.

finance companies, including Sachin Bansal-led Navi Finserv and Mitsubishi UFJ Financial Group-backed DMI Finance, from sanctioning and disbursing new loans as they were found to be charging excessive interest rates. This follows a warning by the RBI governor earlier this month over such practices. The other two companies are Manappuram Finance-promoted Asirvad Micro Finance Ltd and Kolkata-based MFI Arohan Financial Services Ltd. The RBI’s directive comes into effect from the close of business on October 21, the central bank said in a statement on Thursday. “Unfair and usurious practices continued to be seen during the course of onsite examinations as well as from the data collected and analysed offsite,” the RBI said. The action comes less than 10 days after central bank governor Shaktikanta Das warned some non-banking finance companies (NBFCs), microfinance companies (MFCs) and housing finance companies (HFCs) against “aggressively pursuing growth without building up sustainable business practices.”

Centre has amended the guidelines for disposal of the enemy property worth below Rs 1 crore located in rural areas and such property valued below Rs 5 crore in urban areas. Assets left behind by people who have taken citizenship of Pakistan and China — mostly between 1947 and 1962 — are called enemy property. In a notification, the Union Home Ministry said while disposing of the enemy property valued below Rs 1 crore in a rural area and valued below Rs 5 crore in an urban area, the custodian shall offer of purchase to the occupant first and if the occupant refuses the offer of purchase, then the enemy property shall be disposed of in accordance with already laid down norms i.e. by inviting tender or by holding public action. The home ministry also clarified that the 'rural area' means any area in a state except those areas covered by any urban local body or a Cantonment Board. Similarly, an 'urban area' means any area within the limits of a municipal corporation or municipality, or the central government may, having regard to the population, concentration of industries, need for proper planning of the area and other relevant factors, by general or special order, declare to be an urban area.

equity indices fell for the third consecutive session on Thursday, weighed down by Bajaj Auto's warning of weak festive sales, along with concerns over high stock valuations and ongoing foreign fund outflows. The 30-share BSE Sensex dropped 495 points, or 0.61%, to close at 81,006, while the broader NSE Nifty declined 221 points, or 0.89%, ending at 24,749.8. The Nifty50 also touched a two-month low during the session.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Chinese Communist Party (SCCCP) have urged the U.S. Secretary of Commerce Gina Raimondo to take immediate action against Huawei's rapid development of semiconductor fabrication facilities. They expressed concern that Huawei is attempting to conceal its involvement in these operations to circumvent existing American restrictions, according to a release from the Select Committee. The lawmakers highlighted that these facilities depend heavily on U.S.-produced semiconductor manufacturing equipment (SME), presenting a crucial opportunity for the United States to impede Huawei's ambitions, which they argue pose significant threats to national security.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Subscribe to enjoy similar stories. MUMBAI : The Indian stock market has enjoyed an impressive rally in 2024, with benchmark indices such as the Nifty50 surging over 20% at its highs. Currently, the index sits at around 25,000, reflecting a gain of roughly 15%.

Bitcoin has recently surged past $67,000, reaching new monthly highs and pushing its market cap to $1.33 trillion. Over the past year, it has delivered an impressive 142% increase, driven by significant developments and growing confidence in the crypto space. We are now at a time where adoption of crypto is rapidly scaling. Let’s dive into the key factors behind this price action and explore the events shaping its upward momentum.

India won the toss and opted to bat first under cloudy skies on the second day of the rain-hit opening test against New Zealand on Thursday. The first day's action was called off without a ball being bowled due to rain with more bad weather expected this week. India made two changes to their team, bringing in Sarfaraz Khan for injured batsman Shubman Gill and spinner Kuldeep Yadav for pace bowler Akash Deep.

More than 300 employees of the Canada Revenue Agency have been terminated in the past year for inappropriately receiving the Canada Emergency Response Benefit (CERB) during the COVID-19 pandemic, with the final round of firings having occurred in the past three months.

bomb threats, the Centre asserted that agencies are actively pursuing the cases even as the Mumbai Police apprehended a juvenile from Chhattisgarh for three such hoax calls. Meanwhile, to ensure the safety of passengers, the government is likely to increase the number of sky marshals on international flights. The government on Wednesday informed the Parliamentary Standing Committee on Transport that it is considering deploying a greater number of the elite National Security Guards (NSG) personnel on international flights. Civil aviation secretary Vumlunmang Vualnam also told the committee that investigators have gathered some information on the recent threats and are taking action. Separately, civil aviation minister Ram Mohan Naidu said he is monitoring the situation closely. A senior official of the Central Industrial Security Forces, the paramilitary force that handles airport security, said state police have been asked to arrest and take strong action against people making such threats. At least 19 Indian flights received hoax bomb threats in the past three days, leading to long delays and diversions. On Tuesday, Singapore's air force sent two fighter jets to escort an Air India Express plane away from populated areas after the airline received an email that there was a bomb on the aircraft.

Uttarakhand government Wednesday issued detailed guidelines for preventing instances of people spitting in food, announcing a fine of upto Rs 1 lakh, mandating police verification of hotel and 'dhaba' staff and installation of CCTV cameras in their kitchens. The state police and the health department issued separate guidelines days after Chief Minister Pushkar Singh Dhami termed such incidents «thook (spit) jihad», and said stern action will be taken against the offenders. Two men were recently arrested in Mussoorrie for allegedly spitting into fruit juice glasses before serving them to tourists. A video from Dehradun had also gone viral in which a cook could be seen allegedly spitting while making dough for rotis. Health Minister Dhan Singh Rawat said safety and purity of food is top priority of his government during the upcoming festival season. Any kind of impurity or anti-social activities will not be tolerated during the festivals, Rawat said.

The new Flockerz ($FLOCK) meme coin continues to dominate the presale scene, with over $700,000 in funding locked down.

Cosmopolitan reported that Full Moon is in Aries this time which us actually known for its primal energy and confidence while it pushes every individual to act properly in their life rather than dwelling on fears or uncertainties. Reports claim that during this time it is extremely essential to trust the intuition which serves as a collection of messages from past experiences. Also Read: Kamala Harris' ally sharing resources with China Communist Party? Here's what report reveals