Digital Financial News

The website of online ticketing platform BookMyShow crashed Sunday, seconds after the sale of tickets for the highly anticipated Coldplay concert went live, leaving fans stuck in digital queues and disappointed. The concert, scheduled for January 18 and 19 at the DY Patil Sports Stadium in Navi Mumbai, marks the British band's return to India after an eight-year break.

iPhone 16 hit the shelves across various markets on Friday. But for the foreseeable future, consumers in the European Union will not be experiencing its AI suite of features, called Apple Intelligence, that the new device was built for. ET explains why, and other instances this year when Apple ran into trouble with EU authorities and regulations. Apple says no to AI features in EU In June this year, Apple announced it would not roll out its AI features under Apple Intelligence in the EU market over ‘regulatory uncertainties’ and privacy concerns stemming from the Digital Markets Act.

customer satisfaction and acquisition while making every marketing dollar count. This emphasis on strategy alignment empowers us to shape the future of marketing in banks. Banks are increasingly investing in corporate branding, celebrity endorsements and targeted marketing for segments like startups and MSMEs to drive digital adoption. The ability to execute swift, need-based marketing campaigns is crucial. For banks focused on deepening customer engagement and loyalty, embedding marketing at the core of their transformation strategy is imperative. As a result, some banks have increased marketing spend to 30-40% y-o-y. However, organisations are struggling to get the desired RoI. Convergence of traditional (TV ads, etc) and digital marketing (online ads, etc) platforms is critical to improving marketing RoI. Linking brand and marketing efforts to enterprise value — driven by revenue growth, customer loyalty in the short-to-medium term, and brand equity over the long term — is essential.

Nisus Finance Services (Nifco), a real estate investment firm, is in the process of raising approximately $200 million from investors in Singapore, the UK, and the Middle East. The inaugural special situations offshore fund has secured $40 million to date and anticipates the first close by March 2025. An offshore entity will act as a feeder or co-investor in the domestic fund and has commitments of around $40 million. «This capital can be invested alongside the domestic pool, which is nearing final closure. We have an additional $160 million under discussion, with interest from HNIs, bank treasuries, and family offices for high-yield assets,» said Amit Goenka, managing director and CEO of Nisus Finance.

Modi addressed thousands of Indian Americans in New York on Sunday, highlighting his ambitious plans for India's future. He emphasized that India is now a "land of opportunities" and reflected on the significance of the recent election results. «After going through this tough election process, this long election system, something unprecedented happened in India (this year). What happened… 'Abkibaar Modi Sarkaar,'» Modi stated. He noted that for the first time in 60 years, the people of India delivered a mandate of great importance. «During my third term, I have very ambitious goals to achieve. We have to move forward with three times the strength,» he asserted.

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Reliance Power is planning to raise around ₹6,000 crore to expand operations, according to sources aware of the development after announcing last week that it had become a debt-free company. The board will meet today (Monday, September 23) to consider and approve the raising of long-term funds from domestic and/or global markets, either by way of preferential issues and/or QIP and/or rights issues and/or foreign currency convertible bonds. Reliance Power, among others, runs the 3960 MW pithead coal-based Sasan Ultra Mega Power Project in Madhya Pradesh and the 1200 MW coal-based Rosa Power Project in Uttar Pradesh. It also has a 45MW wind project in Maharashtra.

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...

Punjab government is likely to effect a cabinet reshuffle on Monday with speculations being rife that four to five MLAs may be inducted while a few ministers may be dropped. However, there was no official confirmation on the reshuffle in the Aam Aadmi Party government. In case there is indeed a reshuffle, the swearing-in ceremony is likely to take place at the Raj Bhavan on Monday, sources said. The likely Cabinet reshuffle would come days after AAP national convener Arvind Kejriwal was released from the Tihar Jail upon being granted bail by the Supreme Court in the excise policy case.

Bihar Chief Minister Nitish Kumar on Sunday wrote to Prime Minister Narendra Modi, requesting him to introduce a Vande Bharat train between Ayodhya and Sitamarhi so that pilgrims get better rail connectivity between the two holy towns. The state government has been developing Punaura Dham Janki Mandir, a Hindu pilgrimage site, in Sitamarhi district that is considered the birthplace of the goddess Sita. «Better rail connectivity between Ayodhya and Sitamarhi will make things easy for the pilgrims who visit both temples (Ram Mandir and Punaura Dham Janki Mandir) in large numbers every day. The Centre recently introduced several Vande Bharat trains from different cities in Bihar to other places in the country. »I extend my gratitude to the PM for introducing these Vande Bharat trains. I request you for the introduction of another Vande Bharat train between Ayodhya and Sitamarhi. The Ministry of Railways should be duly instructed in this regard," Kumar wrote in his letter to the PM.

Modi on Sunday said that the Indian diaspora in the US is the strongest brand ambassadors of the country, terming them 'Rashtra Dhoot'. He said that the Indian diaspora has connected India with America and vice versa. «Your skills, talent, commitment has no competition,» said Modi.

The advent of cryptocurrency and blockchain technology has revolutionized the financial landscape, providing users with decentralized, secure, and transparent systems for transferring and storing wealth. However, with this innovation has come a new wave of challenges, particularly when it comes to security. As the value of digital assets like Bitcoin, Ethereum, and various altcoins has soared, so too has the frequency of hacking incidents, scams, and frauds. For many investors, losing cryptocurrency can feel like an irreversible loss, but blockchain recovery solutions are offering a glimmer of hope.

Rahul Gandhi on Sunday urged people to visit Wayanad and experience its beauty, help to revive tourism, rebuild livelihoods and restore its vibrancy. He stressed that while the recent landslide tragedy affected only the Mundakkai area, it has led to a misconception that all of Wayanad has been impacted, causing a sharp drop in tourism. «Wayanad's beauty is undisputed, but it is the compassion and kindness of its people that has always drawn me to it. Today, so many of those people who rely on tourism for their livelihood are looking to you all for help,» the former Congress chief said in a Facebook post.

India on Sunday scripted history as it clinched it's maiden gold medal in the 45th Chess Olympiad after D Gukesh, Arjun Erigaisi and R Praggnanadhaa won their respective matches against Slovenia in the 11th and final round match here. World Championship challenger Gukesh and Arjun Erigaise yet again delivered in key games to help India secure its first title in the open category. Up against Slovenia, Gukesh was at his very best in the technical phase of the game as black against Vladimir Fedoseev. Though it was a laboured victory, the 18-year-old Grandmaster was spot on with his tremendous strategic display.

Adani Airport Holdings Ltd (AAHL) said on Sunday that passengers across some airports in the country are facing disruptions in lounge access due to DreamFolks Services Ltd suspending its services. DreamFolks, the lounge access provider, acknowledged the disruption but said it is not related to any contractual issues and that they are working to resolve the problem quickly. AAHL, which runs seven airports in India—Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvananthapuram, and Mangaluru—said the problem is affecting services at four of these airports.

Piyush Goyal on Sunday said there are plans to open offices in different countries in the coming months to hand-hold foreign investors looking at opportunities to invest in India. The first such office of Invest India — the national agency to promote investments into the country — was inaugurated by the minister in Singapore. It will act as a dedicated point of contact for companies from the region looking to invest here. This move reinforces India's commitment to deepening investment partnerships and making it easier for global investors to engage with India.

NBFCs has improved since 2022 after the regulators adopted scale based regulations- a framework linked to the size, activity and risk levels, a study by RBI economists said. But it has also warned that they need to be watchful of cyber-security and climate risks and proactively identify and manage risks, it said. Gross NPAs ratio which ranged from 4.4 percent to 10.6 percent in December 2021 declined o 2.4 to 6.3 percent by December 2023. Scale based regulations were implemented from October 2022, the study found. «There has been a consistent improvement in the bottom line of the sector, as gauged by the profitability indicators, i.e., return on assets (RoA) and return on equity by Abhyuday Harsh, Rajnish Kumar Chandra, Nandini Jayakumar and Brijesh P from the central bank's department of economic and policy Research.» The sector remains resilient under the SBR framework. At end-December 2023, the sector continued to exhibit double-digit growth in credit, adequate capital and low delinquency ratio" The views expressed in the study published in the Reserve Bank's latest monthly bulletin are not that of the central bank.

Swami Avimukteshwaranand Saraswati of Jyotirmath, Uttarakhand refrained from paying obeisance at the Ram temple here on Sunday, asserting that prayers cannot be offered in a partially-constructed shrine. He said he would offer worship at the Ram temple only when the «shikhar» (topmost part) of the structure is fully constructed. Asked about not visiting the Ram temple, Saraswati told reporters, «Prayers cannot be offered in a partially-constructed temple. It is incomplete. I will offer worship at the Ram temple only when the shikhar of the temple is fully constructed.» He conducted a special prayer service at the Chineshwarnath temple and performed the circumambulation of the Ram Janmabhoomi complex along the Ramkot locality in Ayodhya.

Anil Ambani's Reliance Group has in recent years seen marquee firms being auctioned in insolvency proceedings and piling debt-fold businesses. But the group has, in the week gone by, made announcements that investors believe may mark its transformation. In three days — from September 18 to September 20 — the group announced it has turned into nearly zero and is implementing long-term fund raising plans that are said to solidify its financial position. Reliance Infrastructure's board approved fund raising of up to Rs 6,000 crore via preferential issue and QIP, while Reliance Power board is meeting on September 23 to consider and approve the fundraise via multiple routes.

NCLAT has dismissed the petition of Adesh Kumar Gupta, former CEO and Executive Director of Liberty Shoes, seeking an exemption from minimum shareholding norm to file a case of oppression and mismanagement against the company. Gupta has 5.83 per cent shareholding in Liberty Shoes. He was removed as an executive director of Liberty Shoes on September 30, 2023 and ceased to be the chief executive officer (CEO) of the company. However, the company informed the stock exchange about his removal from the board on November 21, a day after the Chandigarh bench of the National Company Law Tribunal (NCLT), on November 20 last year, dismissed his earlier plea.