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Unsecured loans like micro finance, personal loans, credit cards and business loans will continue to be a source of stress for non bank financial companies (NBFCs) this fiscal year as borrowers’ repayment capacities are likely to be hit due to higher interest rates, rating agency ICRA said. This rising stress is expected to cause a slowdown growth in microfinance loans by 10% to 12%, and a 19% to 21% in other unsecured loans. The stress will also spill over to secured loans like small mortgages, vehicle loans and other small ticket loans, the rating agency said. High credit growth in the previous two years has potentially resulted in over leveraging in some assets, and a slower credit growth due to higher risk weights by the regulator, can damage the refinancing ability of some borrows.

Le Travenues Technology, the parent company of online travel aggregator Ixigo, which went public in June, saw its net profit decline by 51% year-on-year (YoY) to Rs 14 crore for the quarter ended September 2024. The company reported operating revenue of Rs 206 crore for the quarter, up 26% from Rs 164 crore a year ago. The company’s total expenses rose to Rs 191 crore in the September quarter from Rs 169 crore in the same period last year.

Reliance Industries chairman Mukesh Ambani said in a conversation with Nvidia chief executive officer (CEO) Jensen Huang. Speaking at the Nvidia AI Summit in Mumbai on Thursday, Ambani said India is now one of the top countries in digital infrastructure, alongside the US and China. “India now has the best digital connectivity infrastructure, apart from the US and China, with 4G, 5G, and broadband systems in the world,” he said.

Go Digit General Insurance posted a net profit of Rs 89.4 crore for the July-September quarter, up 222% from Rs 27.7 crore a year earlier. The new-age general insurance company reported a gross written premium of Rs 2,368.5 crore in the September quarter, up 14% from Rs 2,073.8 crore a year back. In a filing with the stock exchanges, the Fairfax-backed insurance company said it has reappointed its founder Kamesh Goyal as the non-executive chairman for a period of five years from October 24, 2024, subject to insurance regulator IRDAI’s approval.

telecom industry has demanded that the license fee paid by them to the government should be reduced to 0.5% to 1% of the gross revenues, from the current 8%, as the circumstances and regime have changed for the industry. The industry said a reduction in fees would facilitate telcos to plough the revenues back to the network for upgradation and expansion, which will enable digital inclusion. The Cellular Operators Association of India (COAI), which counts all the three private telecom operators –Reliance Jio, Bharti Airtel and Vodafone Idea –as its members, said, payments made basis the AGR (adjusted gross revenue) need to be reconsidered under the changed regime and circumstances. Telcos pay an 8% license fee to the government, which includes a 5% universal service obligation (USO) levy.

BPM) organisations must move beyond routine tasks and address more complex and strategic challenges while offering insights into the emerging skills that will define the future of work in this dynamic industry, a new report has said. As the sector undergoes rapid transformation driven by technological advancements, changing client expectations and new engagement models, the demand for specialised skills and redefined job roles has become more critical than ever, said the report, ‘BPM Shifting Gears: Shaping Tomorrow’s Skills and Careers’, jointly prepared by industry association Nasscom and job search portal Indeed. India’s BPM industry is steadily growing, generating $48.8 billion in revenue as of FY2024 while undergoing significant shifts from process management to delivering end-to-end transformation solutions.

Subscribe to enjoy similar stories. They say interest is dearer than the principal. Grandparents tend to dote on grandchildren more than their own.

New Delhi: In a major step towards enhancing collaboration and digital adoption at incubation centres, the Indian STEPs and Business Incubators Association (ISBA) announced a strategic partnership with SanchiConnect at the 16th edition of ISBACON 2024, India’s premier conference for startup incubators. The conference attracted over 300 participants from incubators across India, government bodies, and international associations such as AABI (The Asian Association of Business Incubators), Thai-BISPA, the British High Commission, and the German Centre for Research & Innovation.

Nathan Lyon to go seventh on the all-time Test-wicket takers list when he dismissed Devon Conway to grab his third wicket on Day 1 of second Test in Pune. The two off-spinners will go head-to-head when India visits Australia for a five-match Test series in November. Conway was Ashwin's 531st Test wicket. the Tamil Nadu bowler has the second highest wickets for India, only behind Anil Kumble's 619 scalps.

Supreme Court on Thursday refused to entertain a plea alleging contempt of its order on demolition of properties by the authorities in Uttarakhand, Rajasthan and Uttar Pradesh. A bench headed by Justice B R Gavai and comprising Justices P K Mishra and K V Viswanathan said it was not inclined to entertain the plea filed by the petitioner who was not directly or indirectly related to the alleged act. «We don't want to open a pandora box,» said the bench. The court said it will hear those affected by the demolition of properties.

Reliance and Nvidia, a leading US-based company in Artificial Intelligence computing has announced a joint attempt in building AI infrastructure in India. The announcement was made by CEO Jensen Huang during a chat session with Mukesh Ambani at the Nvidia AI Summit 2024 on Thursday. The summit was being hosted by Nvidia, one of the world's leading tech companies for the first time in India. «It makes complete sense that India should manufacture its own AI. You should not export data to import intelligence. India should not export flour to import bread,» said Jensen Huang while in conversation with the Reliance Chairperson.

iPhone 16 Pro Max, each offering 128GB of base storage. Prices in India start at Rs 79,900 for the iPhone 16 and go up to Rs 1,44,900 for the iPhone 16 Pro Max.

Zerodha co-founder Nikhil Kamath, known for his preference for renting over owning, has sparked online debate after photos of his previous rented apartment in Bengaluru resurfaced. Despite being widely recognized for his financial acumen, the billionaire found himself in the center of an unexpected controversy, with social media users criticizing the design of his sprawling 7,000-square-foot rented residence in Kingfisher Tower.

Amit Shah on Wednesday announced that the government will celebrate the 150th birth anniversary of Sardar Sardar Vallabhbhai Patel, on October 31 next year, with two-year nationwide celebrations from 2024 to 2026. Shah announced on X: «Sardar Patel-ji's enduring legacy as the visionary behind the establishment of one of the world's most robust democracies and his pivotal role in unifying India from Kashmir to Lakshadweep remains indelible. To honour his monumental contributions, the government of India, under the leadership of PM Narendra Modi, will commemorate his 150th birth anniversary with a two-year-long nationwide celebration from 2024 to 2026. This celebration will serve as a testament to his remarkable achievements and the spirit of unity that he epitomised.»

propaganda leaflets apparently carried by balloons were found scattered on the streets of the South Korean capital Seoul on Thursday, including some making personal attacks on the country's president and first lady. The leaflets attacking South Korean President Yoon Suk Yeol and First Lady Kim Keon Hee found in the capital appear to be the first instance of the North Korean government directly sending anti-South propaganda material across the border. They included graphic messages accusing the Yoon government of failures that had left his people living in despair, and describing the first couple as immoral and mentally unstable.

Maharashtra government on Thursday told the Supreme Court that it will hand over the next tranche of land by December for construction of the Bombay High Court's new building complex in Mumbai's Bandra region. The state government also informed a special bench comprising Chief Justice D Y Chandrachud and Justices B R Gavai and JB Pardiwala that so far it has not received the possession of the Air India building in south Mumbai where the mediation centre of the Bombay High Court is proposed to be shifted. The state government said possession of 30.16 acre of land will be handed over to the high court in a phased manner, adding the first tranche measuring 4.39 acres has already been given.

The global opportunity for the EV battery chain is estimated to reach USD 300 billion by 2030.

At the COP28 climate talks in Dubai last year, leaders from more than 130 nations agreed to triple renewable power capacity by the end of the decade. It was one of the few tangible agreements at the annual meeting and a goal that’s crucial to cut dependence on fossil fuels that cause climate change. While the target remains achievable, current rates of clean power deployment aren’t sufficient and the rollout of wind turbines is lagging, according to the International Renewable Energy Agency.

Atul Bora said that with supportive policies, Assam has achieved an 85% increase in exports over the last six years, underscoring the potential of export-oriented farming. The Confederation of Indian Industry (CII) organised a North East Rural Conclave on 23 October 2024, at Guwahati marking a pivotal moment for the North Eastern Region as it undergoes rapid economic and industrial transformation. The conclave spotlighted rural development as a crucial entity for social and economic advancement, providing a dynamic platform for stakeholders to address the emerging demands for both farm and non-farm products, along with advancements in the service sector. Bora said with supportive policies, Assam has achieved an 85% increase in exports over the last six years, underscoring the potential of export-oriented farming. To maintain this momentum, fostering synergy among government departments and stakeholders is essential. He emphasized that financial resources are vital for effective rural development, particularly in the Northeast, where agriculture is the primary livelihood. Access to financial capital is crucial to implement modern farming techniques, invest in sustainable practices and enhance productivity

SK Hynix on Thursday posted a record quarterly profit as the Nvidia supplier booked strong sales of its advanced chips, and said demand for high-bandwidth memory (HBM) chips would continue to outpace supply next year. The company played down market concerns about an oversupply of the chips used in generative AI chipsets, saying production of higher-margin HBM chips was limited due to technological challenges, while demand was proving stronger than expected. «We believe that it is premature to talk about demand slowdown for AI chips and HBM at this point,» Kim Kyu Hyun, SK Hynix's head of DRAM marketing said on a conference call, citing ever-increasing requirements for computing power.

For the financial year 2023-2024, Priyanka reported a total income of ₹46.39 lakh, including rental income, bank interest, and other investments. In terms of assets, Priyanka disclosed ₹4.24 crore in movable assets. These include deposits in three bank accounts, investments in mutual funds and PPF, a Honda CRV car gifted by her husband Robert Vadra, and over 4,400 grams (gross) of gold valued at ₹1.15 crore.