Digital Financial News

Jio's share in the overall data traffic in India increased to about 60 per cent in 2023-24, according to the annual report of parent firm Reliance Industries Limited. Jio's ahead-of-the-curve investments in next-generation network and digital technologies would sustain a competitive edge and market share gains, it said and added this will ensure strong and consistent shareholder return over the coming years. In the annual report, Reliance Industries' Chairman and Managing Director Mukesh Ambani said Jio turned a «Data Dark India» into a «Data Rich» nation with affordable, high-speed 4G data, and followed it up with a 5G network rollout across India in world-record time. According to the annual report, the rollout of the next-generation fixed wireless networks would catalyse demand for high-speed fixed broadband. Rural areas are expected to see a higher uptake of these services due to limited last-mile infrastructure currently.

Reliance Industries has reduced nearly 11%, or 42,000 people, of its workforce in FY24 compared to a year ago, indicating cost-efficiency drives and reduced hiring especially in retail which also saw store closures and slower expansion rate. RIL's employee strength stood at 347,000 in FY24 compared to 389,000 in FY23. The number of new recruits was slashed by more than a third to 170,000, according to its latest annual report. «The new lines of businesses (at Reliance) have matured now and have significant support from digital initiatives. Now they are a stage to better manage the operations with optimum strength. It doesn't mean that the numbers (of headcount) won't increase when new business opportunities emerge and strategy changes. They understand very well how to drive cost management and efficiency,» said an analyst with a leading broking firm who tracks Reliance Industries, but did not wish to be named.

Reliance Industries Ltd wants to be the partner of choice for leading global climate technology and product companies, the telecoms-to-petrochemicals conglomerate said in its fiscal 2024 annual report released on Wednesday. Over the next 12 months, RIL said, its focus would be to bring onstream new-energy manufacturing facilities, operate them efficiently and start developing renewable energy (RE) generation projects. RIL's new-energy division will commission its first module and cell manufacturing train in the ongoing fiscal. Solar panels manufactured at its Jamnagar facility have obtained BIS certification. «Work on RE development has commenced and Reliance has been allotted land in Gujarat. We aim to become the largest RE developer in India,» RIL said in the report.

Michael Saylor, the executive chairman and co-founder of MicroStrategy, has revealed that he personally owns more than $1 billion in Bitcoin.

The Uniswap Foundation, a non-profit organization dedicated to promoting Uniswap’s growth, has unveiled its financial summary for the second quarter, revealing a lot of cash and stablecoins and not so many UNI tokens.

India currently has no plans to introduce legislation regulating crypto sales and purchases, a Finance Ministry minister said.

Mint in an exclusive conversation. Having doubled its headcount in India over the past three years, BT intends to scale up its presence in core engineering, data and AI. “We are looking at actually the digital part, helping the operations team accelerate both our efficacy and efficiency in the ops part using AI as well," Mehta said.

Amazon Great Freedom Festival sale Day 2: Deals on electronics and appliances from top brands, up to 65% offDon’t miss the Amazon Great Freedom Festival for fantastic offers on speakers, including the Marshall Emberton II Compact Portable Bluetooth Speaker. With over 30 hours of playtime and 360° sound, this speaker delivers an immersive audio experience. Its IP67 rating ensures it is dust and waterproof, making it perfect for any adventure.

NEW DELHI : Despite rising interest and investments in non-Hindi web originals in the country, local-language shows still have a long way to go in terms of viewership, shows a recent report. B&B: Bujji and Bhairava (Telugu) and Inspector Rishi (Tamil)—the most-watched regional-language shows—clocked in a viewership of 4.9 million each, against the 28.2 million of the most-watched hindi show, Panchayat-Season 3, in the first six months of 2024, according to research conducted by media consulting firm Ormax Media. Entertainment industry experts say audiences in vernacular markets are still more lured by cinema and television, and unlike Hindi, there are no established franchises with returning seasons.

Equity schemes typically have higher expense ratios, followed by debt and liquid funds. Read this | Mint Explainer: How Sebi is cracking down on unregistered investment advisors Popular brokerage firms like Groww and Zerodha Coin offer direct plans without advice, leading many users on these execution-only platforms to buy trending or high-return funds out of greed or lack of knowledge—a strategy investment experts consider risky. Vishal Dhawan, a registered investment adviser and founder of Plan Ahead Wealth Advisors, emphasized the importance of advisory services.

residential sales across India’s top seven cities are expected to witness double digit growth in 2024-25. The area sold in Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Hyderabad, Pune, Kolkata, Chennai is likely to increase 10-12% to 785-800 million sq ft in the current financial year, on a high base of 2023-24, said ratings agency ICRA. Despite the moderation in the sales growth rate, the overall sales velocity, collections, and inventory position are estimated to remain healthy in 2024-25. The launches are expected to rise 12% on-year to 767 million sq ft in the current financial year, on an aggregate basis across the top seven cities, supported by decadal low inventory, comfortable years-to-sell (YTS, calculated as unsold inventory/sales in last 12 months) and healthy demand.

Setu, an application programming interface (API) infrastructure provider, introduced a Unified Payments Interface (UPI)-focused payments platform for businesses and developers in partnership with Axis Bank. The platform, named UPISetu, supports a wide range of UPI products, from basic QR code payments, UPI Autopay, equated monthly instalments (EMIs), and third-party validation service. It also features functionalities like brand and bank offers, advanced dispute resolution, instant cashback and refunds, all provided via APIs. “As ‘Credit on UPI’ gains momentum and there exists a pressing need to drive payment transaction success rates, UPISetu will be a game-changing launch for the ecosystem. We believe the world will increasingly be UPI-first thanks to the pioneering efforts of NPCI in India and overseas,” said B Amrish Rau, CEO of Pine Labs.

«Overall sense is that in the second half things are going to be a lot more better. So, these two companies is what we are liking within the results which have come out specifically,» says Pankaj Pandey, Head Research, ICICIdirect.com. Let us begin then by talking a little bit about what is happening within individual sectors and in particular real estate. We have been talking about the relief coming in with the amendments in the finance bill. How are you looking at this news for the sector? Pankaj Pandey: See, real estate as a sector looks quite attractive to us. And after a long period of time, we are seeing improvement in the overall numbers, broader number for sector.

ecommerce platform Open Network for Digital Commerce (ONDC) is expanding spiritual services on its network with Vama.app that will offer services such as virtual pujas, temple darshans and rituals, and astrology services. Spiritual services providers Iskcon and Hari Bol are already available on ONDC. Wavemaker Partners-backed Vama.app, which is onboarding ONDC as both a buyer and seller platform, plans to broaden its reach by offering its services to a wider audience through the network.

Digital payments major PhonePe is looking to set up retail payment operations in new geographies, including Southeast Asia and the Gulf region, two people aware of the company's plan told ET. Places like Singapore, the Gulf region and some countries in Europe are on the agenda, but the plan is still in the early stage and implementation will be done slowly, they said. “The plan is to apply for a payment licence in these geographies and set up retail payment operations there,” said one person, requesting not to be named. «The expertise that the team has built scaling up business in India will be handy there and there is a large opportunity as payments get digitised in these places.»

Netflix will air WWE Monday Night Raw from 2025 and OTT giant subscribers across the world are eagerly waiting for the premier Wrestling event. This has led to questions whether RAW will have uncensored content or not since it will be aired on OTT platform. Now WWE supertstar Braun Strowman has claimed several wrestlers want to use expletives while intimidating their competitors, as per a report on dexerto. Earlier during its much-famed «Attitude Era», WWE used to air matured content. However, stricter TV rules and PG rating ensured toned down suitable for all viewers.

Google violated antitrust laws by maintaining its monopoly in the search engine market. Mehta found that Google's practice of paying companies like Apple to set it as the default search engine on their devices and browsers constituted an abuse of its dominant position. The antitrust lawsuit, initiated by the US Justice Dept and several states in 2020, went to trial in September 2023. In the ruling, Mehta stated, 'The court concludes that Google is a monopolist and has acted to maintain its monopoly, thereby violating Section 2 of the Sherman Act,' which prohibits individuals or businesses from 'monopolising, attempting to monopolise, or conspiring to monopolise any aspect of trade or commerce'. The search engine colossus today handles about 90% of global search queries. It has become so ubiquitous that 'to Google' is a verb synonymous with online searching, veritably making it gatekeeper of the internet for billions.

For years, Bitcoin and Ethereum have been the dominant crypto currencies from which other tokens draw strength. However, with the evolution of blockchain technology and increasing interest in niche markets, new contenders are emerging. For instance, DigiHorse (DIGI) – a blockchain-based platform that merges the thrill of digital games (horse racing, specifically) with the advantages of decentralized finance (DeFi). This article explores the unique features of DigiHorse and compares its potential against the well-established giants, Bitcoin and Ethereum.

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With inflation starting to ease, the millions of Americans with debt are less likely to cite this as an issue, but that doesn’t mean things are looking rosy.

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