Digital Financial News

NEW DELHI : As the tax filing season kicks off again, many individuals are questioning whether they need to file their income tax return (ITR) for financial year 2024 (FY24). This uncertainty often arises because employers have already deducted tax on salaries or banks have deducted tax at source (TDS) on interest or pensions. Others may believe their income is too low to require filing.

As India’s democracy nears the end of the world’s largest electoral exercise, it is evident that digital technologies have changed the whole landscape of Indian policymaking, reshaping governance, citizen engagement, political campaigning and elections. This transformation has not only streamlined bureaucratic processes, but also brought services closer to the people, fostering financial inclusion and digital empowerment. Ministries and government departments have embraced digital tools to raise transparency, efficiency and accountability.

environmental impact of data centres, which consume vast amounts of power and water, makes it imperative for companies operating these facilities to prioritise sustainability efforts. Data centres are significant consumers of electricity. According to estimates, they use approximately 2% of the world’s power and emit CO2 that is equivalent to the airline industry’s emissions; the airline industry is a highly carbon-intensive business. Moreover, data centres’ energy use is known to double every four years, resulting in one of the fastest-growing carbon footprints. By adopting sustainable practices and technologies, data storage solution companies can play a significant role in mitigating such impact. To fulfil such goals, storage solutions company Western Digital is looking to tackle power consumption challenges, including cooling — a critical aspect to data centre design — operational cost and hardware reliability.

Former Bachelorette Trista Sutter is just fine, but don’t expect to hear the full story about her mysterious absence any time soon.

Bitcoin fell as traders monitored transfers by wallets belonging to the failed Mt. Gox exchange, whose administrators have been stepping up efforts to return a $9 billion hoard of the largest digital asset to creditors. The original cryptocurrency dropped as much as 2.7% and was trading at about $67,840 as of 12:15 p.m. Tuesday in Singapore. The weakness spread to smaller coins, including second-ranked Ether.

₹201.4 on 10 May. The recent fall notwithstanding, a major reason for the rise lies in the very fast growth of the company’s quick commerce business, which delivers vegetables, groceries and other products—from lipsticks and pen drives to floral bouquets and branded kurtas—in a matter of minutes. In 2023-24, the adjusted revenue of the company’s quick commerce business grew by 186% to ₹2,302 crore.

A major Chinese bank, Industrial Bank, will reward digital yuan-using customers with carbon points as it targets further CBDC adoption.

Amazon's computing unit AWS is in talks with Italy to invest billions of euros in the expansion of its data centre business in the country as part of the tech giant's effort to boost its cloud offer in Europe, four people familiar with the matter said. Discussions between parties over the size and the location of the investment are ongoing, according to the sources, with one of them saying Amazon Web Service (AWS) is considering expanding its current site in Milan or building a new one.

Infosys is pivoting to a GenAI first company, Salil Parekh, chief executive and managing director of India’s second-largest software services firm told ET. In a wide-ranging interview with Sameer Ranjan Bakshi, Beena Parmar and Surabhi Agarwal, he spoke of his plans to prepare the $18.6 billion software services giant — through its Topaz platform — for the GenAI-led transformation that will take root as global macro-economic concerns ease. For now, as clients postpone large digital transformation projects amid uncertain demand for technology services, Infosys will choose profitability over growth. The 59-year-old — whose second tenure as Infosys CEO extends until 2027—said his spare time these days is devoted to experimenting with different AI tools. Edited Excerpts The current financial year was supposed to be one of recovery, how has it been so far?

Interoperability in Digital Economy (FIDE), which powers ecommerce networks like the government-backed Open Network for Digital Commerce (ONDC), has unveiled a multi-network AI agent that can carry out commercial transactions on the user's behalf. The AI agent, Beckn Generative Pre-trained Transformer or BecknGPT, is an open-source demonstration app over Open AI’s ChatGPT.

FanCraze have signed a multi-year partnership extension, marking a significant milestone in digital fan engagement during the ICC Men's T20 World Cup 2024. As part of the partnership, ICC Crictos SuperTeam, a Web3 fantasy game featuring officially licensed ICC digital video collectibles, will be launched, allowing fans to build fantasy teams using their ICC Crictos and compete in contests for daily rewards. ICC Crictos has brought supporters closer to the action than ever before, with unique activations such as gifting customised ICC Crictos to fans who attended the ICC Men's T20 World Cup 2022 and rare behind-the-scenes experiences, the two partners said in a statement

Mint that further investments will be made in the coming years.“The Ghanaian government is an enabler of this initiative, which will bring digital services, e-learning and mobile finance products to the country. It will not be the one fuelling investments though—that will be enabled through the PPP model of NGIC," Owusu said.

As the deadline for President Biden’s decision on the SEC’s cryptocurrency regulations approaches, Bitcoin’s market response remains cautious. Currently trading at $68,400, the cryptocurrency has experienced a slight decline of 0.50%.

health cooperation, India and Japan have agreed to advance their collaborative efforts during a meeting on the sidelines of the 77th World Health Assembly (WHA) in Geneva, officials on Monday said. The two nations emphasised their commitment to building on the Memorandum of Cooperation signed in 2018, they said. The key areas of focus included expanding cooperation into new domains such as digital health, the use of artificial intelligence (AI) in healthcare, elderly care, and tackling non-communicable diseases. This initiative aims to leverage technological advancements to improve health outcomes and address the growing challenges posed by an ageing population and lifestyle-related diseases, the officials said.

Apple Inc faced a significant challenge recently: declining iPhone sales. This trend, a stark contrast to the company’s record of rapid growth and dominance in the global smartphone market, raises critical questions about the future of one of the most iconic products in consumer electronics. A recent Bloomberg article highlights Apple’s woes, listing 10 reasons why it is in trouble (bloom.bg/3wKhj1z).

Monday, May 27, 2024 – The countdown has begun for the presale of GODLEN , a unique Solana utility-based token. With the presale ending in just one day, the buzz is building for what promises to be an epic launch and a generous airdrop event, being compared to the digital gold rush no one has ever seen before.

Africa as in India. It is the second-biggest telecom company in the continent after South Africa's MTN. Fourteen years ago, Bharti Airtel chairman Sunil Mittal took the brave decision to go to Africa and it has been a perilous journey for his company. Africa, where Mittal had expected to map India's telecom growth story onto the continent, turned out to be little like India with its sparse population as well as political volatility which would discourage any pioneer telecom company. Now that Airtel Africa seems to be out of the woods, and having acquired an elephantine footprint in 14 countries across the continent, a big challenge might be shaping up. Mukesh Ambani, the chairman of Reliance Industries (RIL), who disrupted India's telecom market with low tariffs and cheap handsets by launching Reliance Jio in 2015 and swept aside Airtel to become the market leader, is acquiring a tiny foothold in the African telecom market as a telecom tech and equipment vendor. Also Read: RIL's Mukesh Ambani set for African safari with 5G tech solutions

BEIJING — Soccer star David Beckham will promote Alibaba's international e-commerce platform, AliExpress, in its biggest global brand ambassador partnership to date, the business unit announced Monday.

Indian government's capital spending, recovery in private consumption and investment are expected to help carry forward the economic momentum post-elections, S&P Global Market Intelligence said Monday. The global research firm further noted that policy focus will likely remain on strategic sectors, like renewables, electronics, textiles, digital infrastructure, logistics, food production and services. “These sectors drive Indian macroeconomic stability and growth, are of relevance to climate policy and energy transition, and support domestic employment. The parties also widely consider further development of these sectors to be beneficial for India’s foreign policy objectives,” it said.

The poor placement record of India’s top engineering schools this year has received much attention. What went unnoticed are dismal placements at top economics schools. One reason is the growing caution among employers that face multiple global uncertainties.

Even though risk reward is quickly appearing out of favour, a collapse is less likely this week, says Anand James, Chief Market Strategist, Geojit Financial Services. “Downside marker may be placed at 22983, for an aggressive positioning, with further support seen at 22800,” he says. Edited excerpts from a chat: How have Nifty charts changed after recording two back-to-back weekly gains? What are the odds of a correction now in the pre-election week and the monthly expiry? Anand James: About a week to go for the big day. In 2019, Nifty had fallen over 6% from the recent peak as it was about to enter the last week before elections results were announced. And with that fall, VIX which had been steadily rising from 15 would reach a peak of 28.65, before starting to ease in the week before results. In stark contrast, we are already at record peak, with chart patterns continuing to point further north, towards 23200-23350. And, VIX at 22, while not as high as what was prevailing in the similar period of 2019, is at its highest this year. But, what is more striking this time is that volatility has been persistent and VIX has been holding steady in the vicinity of or above 20 for nine days.