CEO Financial News

George Alexander Muthoot, MD, Muthoot Finance, says: “If there is pressure on the borrowing cost, we will be passing it on to the borrowers because our borrowers are not that much interest sensitive and if all over the place the interest rates are going up for all sorts of loans, then the customers would understand that gold loans are also becoming more pricey. For that, we would be able to maintain our spread and margin at 10% and 11%.”There has been a sharp spike in your cost of funds that have put margins under pressure. Was this on expected lines and can you walk us through the outlook or the reasons for your margin compression?The margin has not really compressed.

cage fight between tech titans Mark Zuckerberg and Elon Musk seems to have hit a major roadblock, as the former has announced that it's «time to move on» from the spectacle. The rivalry between the billionaire CEOs took a dramatic twist as Zuckerberg publicly called out Musk's lack of commitment to the bout. In a recent post on his social media platform Threads, Zuckerberg expressed his frustration, stating, «I think we can all agree Elon isn't serious and it's time to move on. I offered a real date. Dana White offered to make this a legit competition for charity.» «Elon won't confirm a date, then says he needs surgery, and now asks to do a practice round in my backyard instead. If Elon ever gets serious about a real date and official event, he knows how to reach me. Otherwise, time to move on. I'm going to focus on competing with people who take the sport seriously,» he added.

The founder of Amazon is buying a home on an exclusive barrier island in Miami where he'll be neighbors with Tom Brady, Ivanka Trump and her husband, Jared Kushner

The recent decision of the Reserve Bank of India to keep the repo rate unchanged has allowed more time for senior citizens and other bank customers to book fixed deposits at higher rates. At present, several banks are providing over 9% interest on FD to senior citizens as well as general customers (see below).

India has had a payments revolution with UPI. Now, thanks to India’s digital public goods, another financial revolution is underway. This time, it’s in lending. Aadhaar led the Gen 1 public goods. Gen 2 has DigiLocker, Account Aggregator, and Video KYC. Together, these are enabling lending with speed, cost savings, and convenience.

If you have filed Income Tax Return for AY 2023-24, you may receive an Income Tax intimation or notice for several reasons. However, there is no need to worry if you have provided all the correct information to the Income Tax Department while filing ITR. In case, you didn’t, it is recommended to consult a tax professional to carefully draft responses to the notices sent by the Income Tax Department. Here’s a look at six types of income tax notices that taxpayers may receive this year.

The Mutual Fund market in India is set to witness a boom in the near future with the arrival of new players. This article looks at the new players and what they are expected to provide to investors, as per publicly available details.

The Reserve Bank of India has kept the repo rate unchanged for the third time in a row to ensure borrowing costs do not go overboard and economic growth also continues without any disruptions. However, there is no guarantee how long the rate will remain unchanged. Borrowers and investors seem to be cautious about it.

Credit card usage and spends have significantly increased as per the latest data by the RBI. These trends are leading to a competitive market landscape where new cards are being launched with more and more features to grab consumers. Old cards are getting outdated with new cards offering better services and features such as complimentary golf classes, access to airport lounges, reward points and cashback on every transaction, etc.

As the Reserve Bank of India has kept the repo rate unchanged for the third time in a row, individuals can now look at dynamic bond funds which can offer a balance between risks and returns. These are debt funds that dynamically manage their bond duration.

Instagram introduced Threads, a response to Twitter's changes. At the outset, Threads surged, attracting a remarkable 100 million users at an unprecedented pace. Amidst the Twitter-to-X transition and the Elon Musk-led platform's upheaval, Threads generated substantial buzz.

Midcap and smallcap stocks have registered strong gains in the recent months and outperformed their largecap peers. Torus Oro Portfolio Management Ltd believes that this segment of the market can drive consistent alpha generation for investors. “The mid and smallcap space provides ample opportunities to invest in businesses having great growth prospects, product differentiation, and improving business economics,” said Nitin Agrawal, CEO of the portfolio management firm. Agrawal, however, said it was important to keep in mind the underlying risk and fundamentals in check. Edited excerpts:Benchmark indices have rallied close to 16% in 5 months. How comfortable are you with the current valuations?India’s growth story has picked up momentum over the last few months, leading benchmark indices to lifetime highs. Despite the weak global macro factors, the Indian economy witnessed rising growth momentum, moderation in inflation and better trade balance. Further, Indian companies reported strong revenue growth and improvement in margins. This led to increased allocation from FIIs and, thus, India witnessed strong fund inflows over the last few months. Even at the current levels and based on expected EPS growth, we believe that the Indian market is fairly valued. We are comfortable with valuations from a long-term horizon perspective.

₹1.5 lakh) for its upper-tier Model Y variants within China. Announced via the company's official Weibo account, Tesla's adjustments bring down the prices of its Model Y Long-Range and Performance versions to 299,900 yuan ( ₹34 lakh) and 349,900 yuan ( ₹40 lakh) respectively, Bloomberg reported. The Model Y is a pivotal component of Tesla's vehicle portfolio, sharing the spotlight alongside the popular Model 3 as the cornerstones of CEO Elon Musk's automotive enterprise.

On August 7, 2023, PayPal (NASDAQ: PYPL) announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), aimed at transforming payments in web3 and digitally native environments. The announcement was made in San Jose, California, and marks a significant step in bridging the gap between fiat and digital currencies.

Apple says the federal government’s plan to regulate its payment services is a dangerous overreach and is being driven by the self-interested misrepresentations by major banks about how the iPhones work.

Elon Musk and Mark Zuckerberg, the Meta Platforms chief Sunday said that the Space X CEO is not serious about the competition and it’s “time to move on" from speculation that there will be a cage fight match between him and Elon Musk, Bloomberg reported. In a Threads post, Zuckerberg said he is ready for the challenge if Musk ever gets serious about a real date and official event. “I think we can all agree Elon isn’t serious and it’s time to move on.

Facebook CEO Mark Zuckerberg revealed on Sunday his decision to halt his pursuit of a cage match against his counterpart, Elon Musk, in the realm of social media entrepreneurship. In a post shared on his Threads platform, Zuckerberg expressed, “It's evident that Elon's intentions are not earnest, and it's best to discontinue this endeavor. I presented a concrete timeline. Dana White proposed a legitimate charitable competition. Elon evaded confirming a schedule, initially attributing it to a surgery requirement, and subsequently suggesting a practice round within my premises.” He further conveyed, “Should Elon express genuine intent towards a legitimate timeline and an official event, he is aware of how to contact me. If not, it's prudent to shift our focus. My attention will now be directed towards engaging with individuals who approach this endeavor with a dedicated disposition.” The decision to terminate the preparations for the anticipated showdown was widely anticipated. Speculations about the confrontation between the two billionaires had circulated, with the Coliseum in Italy mentioned as a potential venue. The generated proceeds were intended to contribute to veteran support organizations, as stated by Musk.

State Bank of India (SBI) group are in the race to be elevated as managing director of the country’s largest bank, people familiar with the process said. The post fell vacant after former MD Swaminathan Janakiraman took over as deputy governor of the Reserve Bank of India (RBI) on June 26.

LS Digital Group, India’s largest homegrown integrated digital marketing services company, has made its third acquisition with the buyout of digital marketing agency Social Panga as part of its strategy to provide end-to-end services to brands, a top company executive said. The Social Panga acquisition deal, which is split 50/50 between cash and equity, will help the company bolster its creative and communication practice, LS Digital Group founder and CEO Prasad Shejale told ET. Social Panga’s co-founders Himanshu Arora and Gaurav Arora will join the LS Digital Group as co-founders.

Elon Musk and Mark Zuckerberg on Sunday traded barbs at each other before their upcoming cage fight at an epic location in Italy, with the Tesla CEO challenging the Meta founder to fight in his backyard on Monday. Musk posted a chat with Zuckerberg on X (formerly Twitter), saying he will be in Palo Alto (California) on Monday and offered to fight on Zuckerberg's «Octagon». Zuckerberg apparently messaged Musk: «If you still want to do a real MMA fight, then you should train on your own and let me know when you're ready to compete».

ICICI Prudential Life Insurance Company Anup Bagchi has got his task cut out and given his banking background, his focus is on simplifying Life Insurance products. In an interview, Bagchi said just like the Indian Premier League (IPL) changed the way people watched cricket, consumers need simpler life insurance products, and insurers need to design a simpler process of onboarding customers for complex products. Earlier an executive director at ICICI Bank, he was named CEO for five years starting 19 June.