Aware Financial News

quick commerce platforms–Zomato-owned Blinkit and Mumbai-based upstart Zepto--are fast entering ecommerce territory and are set to add several categories like fashion, beauty, electronics, toys, home and kitchen among other segments. Meanwhile, Zepto, the first unicorn of 2023, has hit $1 billion in annualised gross sales as of the latest numbers, people aware of the matter said. These platforms will add thousands of new SKUs in the next two months, taking the number to over 10,000 as they see consumers coming for frequent purchases driving commerce through the platform. Going beyond grocery and staples will increase the scale of quick commerce significantly, impacting both established ecommerce rivals Flipkart and Amazon as well as nearby kiranas, people aware of the plans said. These platforms are also adding more muscle to their logistics networks in order to serve a wide range of products and ensure they are connected to dark stores and available for deliveries. From two years ago–when quick commerce was starting to take shape in India–this is a significant expansion in strategy carrying a big number of SKUs for faster delivery timelines.

Aditya Birla Group plans to consolidate its non-banking finance companies (NBFCs) to create better synergies and ensure optimal utilisation of resources and greater economies of scale, following approval by the National Company Law Tribunal (NCLT), said people aware of the matter. The Mumbai bench of the NCLT recently approved the merger of a half-dozen Birla group companies, including Umang Commercial Company Pvt Ltd, Aditya Birla Online Fashion Pvt Ltd and Birla Family Investments Pvt Ltd, into Birla Group Holdings Pvt Ltd (BGHPL), a key holding company of the Aditya Birla Group. The group also expects to achieve efficient utilisation of capital for enhanced development and growth of the consolidated business under a single entity, including its non-banking financial business, which will continue to constitute its core business, said the people.

Samara Capital, along with a consortium of investors including Convergent Finance, is setting up a roll-up platform for packaged foods for which it has earmarked $150 million. It will explore M&As in mid-sized packaged foods as bolt-on or tuck-in acquisitions, pursue organic growth, and sign licensing deals to bring global food brands to India, executives directly aware of the development said. The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

Odisha MLA Arabinda Dhali on Sunday joined the BJP, a day after resigning from the ruling BJD. Dhali went to the BJP office in Bhubaneswar along with his supporters in a procession, and formally joined the party in the presence of its state president Manmohan Samal and MP Aparajita Sarangi, among others. Former MLA Mukunda Sodi, who also resigned from the BJD, joined the BJP along with Dhali. Addressing the press, Dhali alleged that there was no democracy within the BJD and senior leaders were being neglected.

passenger safety. Kiran Verma, Founder of Simply Blood, shared his harrowing experience where the driver assaulted him in front of his son, highlighting the need for action against such behavior. Incident Details Verma recounted the incident where the driver demanded extra payment in cash, leading to a confrontation. Despite Verma's attempts to resolve the situation peacefully, the driver became aggressive, culminating in him slapping Verma twice. The incident left Verma's son distressed and traumatized.

health in different ways. The NCD Risk Factor Collaboration (NCD-RisC) is a worldwide network of scientists. According to the World Health Organization (WHO), the rate of obesity among the world's children and adolescents in 2022 is four times higher than it was in 1990.

cricket. He compared Jurel to MS Dhoni, which caught everyone's attention. This happened when Jurel played really well in the fourth Test against England in Ranchi, Dhoni’s home ground.

sleep without taking melatonin every day.” Melatonin, a hormone produced by the human brain in response to darkness, regulates the circadian rhythm and facilitates sleep. But the melatonin, which the founder refers to above, is a lab-made supplement, contributing to India’s $308 million sleep aids market of over-the-counter (OTC) pharmaceuticals, according to Statista Market Insights. Sleep supplements are just one of the many components of a growing $585 billion global sleep economy, which includes mattress companies and meditation apps.

Trinamool Congress on Saturday claimed that Prime Minister Narendra Modi's criticisms on corruption «sound hollow» as he shared the stage with leader of the opposition Suvendu Adhikari who is an accused in the Narada case. Senior TMC leader Shashi Panja, who is the state's Women and Child Development Minister, also claimed that the PM visits West Bengal only before elections. «Bengal gets to see the PM only when elections are around the corner. He came in 2021 and he is again coming back before the ensuing general elections,» Panja told PTI-Video. Responding to the prime minister's attack on the TMC over allegations of corruption, Panja said, «May we ask why he shared the stage with Narada-tainted BJP leader Suvendu Adhikari?»

ICRB exam is a highly competitive examination conducted by the Indian Space Research Organisation (ISRO) to select scientists and engineers for various positions. In order to prepare for this exam, it is imperative to have a thorough understanding of the exam pattern and syllabus. Here is an overview of the exam: The ICRB exam is conducted annually and consists of two stages: a written exam and an interview. The written exam is divided into two parts: Part A and Part B. Part A comprises multiple-choice questions (MCQs) on technical knowledge, general awareness, and reasoning ability. On the other hand, Part B is a descriptive paper where candidates are required to write short essays on topics related to their field of expertise. Candidates who clear the written exam are then shortlisted for the interview round. The interview assesses the candidate's technical knowledge, communication skills, and suitability for the applied position. The syllabus for the ICRB exam may vary depending on the position applied for, but generally includes topics such as engineering mathematics, computer science, electronics, and mechanical engineering. Candidates are advised to refer to the official ISRO website for a detailed syllabus and exam pattern.

digitalization. This convergence forms the essential recipe for an economy poised to catapult into unprecedented growth and prosperity. The Indian economy stands on the cusp of explosive growth, being touted as the fastest-growing economy over the next 10 years and anticipated to become the third-largest economy by 2030. Thanks to advancements in technology, improvements in the standard of living, a surge in disposable income, and a general upswing in interest, financial awareness has become a prevalent topic of discussion recently. The principal drivers of Indian financial investments typically revolve around a few major asset classes: equities, real estate, gold and fixed income. Of these four, equity and FDs (as a proxy for fixed income) have been the financial market’s investment options. Historically, fixed deposits (FDs) have long been the go-to option for risk-averse investors seeking stability. For instance, as of March 2023, term deposits in India totalled $1.35 trillion, with individuals and Hindu Undivided Families (HUFs) accounting for 47.35% of the total, according to RBI data.

Fossil fuels have powered human progress for centuries, but their unimpeded use has left us with a ‘substantial possibility’ of the global temperature rise breaching the 2° Celsius threshold by mid-century, despite significant efforts to counter global warming. Notably, the Global North accounted for about 75% of the cumulative global emissions until the last century. But as the Global South – which includes India – moves along a similar growth curve, it is crucial to remember that it does not have the luxury of having vast reserves of fossil fuels at its disposal. Besides, India’s aspirations for a renewable energy-driven future face a challenging path. Despite significant progress, with around 43% of installed power capacity being renewable, coal-based thermal power still contributes to roughly 75% of India’s power generation due to the intermittent nature of solar and wind energy. India must balance decarbonization with industrialization to fuel economic growth and employment opportunities.

Health insurance is meant to provide financial protection against medical expenses. However, insurance companies do deny claims for various reasons. As a policyholder, it is important to be aware of common reasons why health insurance claims may get rejected. This will help you take necessary precautions and avoid claim denials.

Investing in real estate may be a profitable endeavour, providing a variety of chances for portfolio diversification and financial success. A variety of tactics are used by successful investors to negotiate the ever-changing real estate market. When you start investing in real estate, keep these important strategies in mind.

Citizenship and residency status: Both have a direct impact on international investment options and tax liability in respective countries. Risk profile: Your risk-taking appetite will decide if at all you should venture to invest internationally and how much exposure you would be comfortable with. Retirement goals: What is the lifestyle you would like after you retire? Once you are clear about this, you can determine the monthly savings you will need to support that lifestyle.

Bank holidays in March 2024: Today, March 2 which is a Saturday and there might be confusion among people regarding if Banks will be open today. However, as it is the first Saturday of this month, banks will remain open today. Saturdays are typically not designated as bank holidays, except for the second and fourth Saturdays of each month.

NEW DELHI : All existing single-lane national highways will be converted to double lanes, and having two lanes with paved shoulders will be mandatory to get an NH tag in future, two people aware of the road ministry’s plans said. The new criterion will be defined in the rules governing construction of national highways. A paved shoulder is part of a highway adjacent to the regularly travelled portion on the same level.

By David Shepardson

Vodafone Idea's plans to raise an additional Rs 25,000 crore via the debt route won't cause any financial stress as the telco has sharply cut bank exposure — by almost Rs 35,000 crore — in the past two-and-a-half years and improved operational performance, top company sources told ET. The telecom JV of UK's Vodafone Group and India's Aditya Birla Group (ABG), in fact, is counting on the targeted funding primarily to plug its 4G coverage gaps and rein in customer losses to be able to compete more effectively with bigger rivals, Reliance Jio and Bharti Airtel in its priority markets. The Rs 25,000 crore planned debt funding is in addition to the Rs 20,000 crore that Vi plans to raise via equity and/or equity-linked instruments by the June quarter of FY25.

New Delhi: Pharmaceutical companies may have to switch to transparent bottles for eye drops so that consumers can ascertain the clarity of eye drops before using them, said people aware of the matter. The Drug Controller General of India (DCGI) has called a meeting with pharma lobby groups on Monday to discuss the matter as the regulatory authority proposes to make amendments to the Drugs and Cosmetics Rules, 1945 with respect to the packaging of eye drops, they said. The Drugs Consultative Committee (DCC), a technical body of experts, had deliberated on the issue in its meeting last year after it received representation to amend the Drugs and Cosmetics Rules, 1945 with respect to concerns raised on the packing of eye drops in opaque plastic vials or bottles by pharmaceutical companies on the basis of historical testing results of eye drops sampling. The tests showed that most of the samples failed in the description due to particulate matter and contamination.

investor base of the National Stock Exchange of India (NSE) crossed crore (90 million), underlining the enhanced participation of retail investors. The total number of client codes registered with the exchange stands at 16.9 crores (169 million).