Digital Financial News

RIL) on Monday rallied over 5% to hit a fresh 52-week high of Rs 2,826 on Monday with its market capitalisation crossing the threshold of Rs 19 lakh crore. RIL's December quarter results were largely in-line with market expectations with its O2C EBITDA dropping 14% QoQ to Rs 140.6 billion due to maintenance in multiple units combined with lower cracks & deltas. Jio’s EBITDA was up 1.4% QoQ to Rs 142.6 billion, while Retail EBITDA rose 8% QoQ to Rs 62.7 billion. RIL's profit after tax stood at Rs 19,641 crore in Q3FY24, down 1.2% QoQ and up 10.3% YoY and above market expectations of Rs 18,080 crore.

Debt mutual funds have been an instrument of choice while giving exposure to fixed income assets in investment portfolios. Tax efficiency was one of the major reasons for this. However, from April 1, 2023, there has been a change in income tax laws for mutual fund units bought on or after this date. Capital gains from units of any Mutual Fund (MF) scheme that has invested after this date and has only up to 35% assets in Indian equity would now come under Short-term Capital Gains (STCG) tax regime, irrespective of the duration of the investment. STCG tax is payable at one's applicable income tax slab rates. Capital gains from units of those mutual fund schemes that have invested 35%-65% in Indian equity in the MF scheme would qualify for long-term capital gains (LTCG) after 36 months of holding period. LTCG tax of 20% would be applicable, after indexation, for this category. This means that capital gains from units of pure debt funds would come under Short-term capital gains regime irrespective of the holding period and tax payable will be as per one's income tax slab rates. This is a major disadvantage. However, there are two mutual fund categories that offer returns similar to debt mutual funds in a tax efficient manner.

Realme has enlisted the iconic ShahRukh Khan as its brand ambassador. Fans eager to witness the event live can do so on Realme's official YouTube channel or through a dedicated live stream provided by the company. One of the standout features of the Realme 12 Pro Plus 5G is expected to be its periscope telephoto lens, marking a significant advancement since 2020 for the company.

Garena Free Fire Max is a popular battle royale game that gained popularity in India after the original Free Fire game was banned by the Indian government in 2022. Apart from the vibrant graphics and intense gameplay, the beauty of this battle royale game is only enhanced by the release of daily redeem codes by its developers, 111 Dot Studios.

People who love cryptocurrencies and investors are always searching for the next exciting thing in the ever-changing world of digital money. One project creating a lot of excitement is Retik Finance, positioning itself as a strong alternative to the well-known Cardano (ADA). With a tempting price of $0.09 in its presale phase, Retik Finance is catching eyes because of its ambitious goals, strong features, and the chance for a whopping 50x return on investment in 2024.

In the second place was Pawan Munjal, CMD of Hero Moto Corp, with a compensation of ₹99.55 crore in FY23, up from ₹84.35 crore in the previous year, according to a study of the BSE 200 companies conducted for ET by leading search firm EMA Partners India.

Following a lengthy investigation phase, in October the ECB moved onto the preparation phase of the digital euro, although no final decision on a roll out has yet been made. The central bank has now issued calls for applications to establish framework agreements for the alias lookup component; the fraud and risk management component; the app and SDK components; the offline services component; and the secure exchange of payment information component. The ECB will invite the highest ranked respondents to submit offers in a subsequent Invitation to Tender. In total, the five agreements could be worth around EUR1.1 billion to vendors and would run for four years from early 2025.

Mint showed. The study - Market Moves Insights 2020-2023 , showed that 85% of the top hires in 2023 were made by established companies, and 15% by companies backed by private equity (PE) and venture capital (VC). In the previous year, the figure for the startup sector stood at 29%.

Zee Entertainment Enterprises Ltd (ZEEL) ended on a bitter note last week, few in the industry were surprised. Given Zee parent Essel group’s debt problems, a probe by market regulator Securities and Exchange Board of India (Sebi) into its promoters, as well as disagreements between Sony and Zee, the split was long anticipated. Sony Group had agreed to merge its India unit with Zee late in 2021, combining their television networks, digital assets, libraries and streaming platforms to create the country’s largest broadcaster.

A leading Russian economist has claimed that American sanctions will ultimately undermine the role of the US dollar in the global economy – and help the cross-border adoption of the digital ruble.

₹2 crore (in compensation), while SCDRCs handles cases between ₹50 lakh and ₹2 crore. District consumer dispute redressal commissions (DCDRC) have jurisdiction over cases that entail up to ₹50 lakh in compensation.

China has ramped up its digital yuan work over the last year, while the ECB is now in the preparation phase for a digital euro and India is seeing a million transactions per day processed by commercial banks throughout the country for the digital rupee. Yet in the US, the Federal Reserve has been cautious about pushing ahead with pilots and several governors have expressed scepticism about the need for a CBDC. This month, Donald Trump vowed to prevent the creation of a digital dollar if he wins the US presidential election, calling a CBDC a "dangerous threat to freedom". Josh Lipsky and Ananya Kumar from the Atlantic Council’s GeoEconomics Centre warn that technological payments innovation at the Fed is lagging behind its peers and competitors.

Mint reported that India is considering reforming the lines of credit (LoCs) it grants to other countries to improve its economic diplomacy. So far, India has extended over 300 lines of credit to 65 countries with an estimated value of $30 billion.

₹25,000 (self and family) to ₹50,000, while raising this further for senior citizens. However, no view on this has been taken so far, the people cited above said. Separately, digital banking units (DBUs) may be allowed to provide more financial products, including insurance policies and other products, to advance financial inclusion.

₹5,183 crore for the current quarter, reflecting a 3 percent increase compared to the corresponding quarter in the previous fiscal year, as per analysis by several brokerage firms. Concurrently, revenue is anticipated to experience growth, reaching ₹17,425 crore. Also read: Bajaj Finance Q3 results: NII likely to rise 26% led by strong AUM growth, say analysts The anticipated EBITDA is expected to hover around ₹6,482 crore, reflecting a year-on-year increase of approximately 4 percent.

Solana (SOL) has been one of the most recent success stories in the cryptocurrency market, rising more than 700% between January 2023 and January 2024. However, a recent pullback has paved the way for a new breakout star with similar or better potential.Retik Finance (RETIK) is a fairly new decentralised finance (DeFi) platform that analysts say will push DeFi boundaries. Retik Finance (RETIK) introduces a suite of DeFi products, including DeFi debit cards, a blockchain-based payment solution, and AI-powered lending, to bridge the gap between traditional and digital finance. As a result, recent demand flowing to the platform suggests that the token is on track for a rally that could dwarf Solana in 2024.

Bitcoin and Ethereum are charting a renewed path in the cryptocurrency markets, signaling a potential rally. On Saturday, Bitcoin saw a noteworthy rise, trading at $41,833, marking over 4% increase.

As the cryptocurrency market continues to evolve, Bonk (BONK) emerges as a noteworthy new player, currently trading at a striking $0.000012. With a significant influx of approximately $116.6 million in trading volume in just 24 hours, Bonk is drawing attention in the crypto space.

blog post alleged that under the false pretense of compliance and concessions, Apple has put forward a new plan 'that is a complete and total farce'. He argued, "Apple is nothing if not consistent. While they have behaved badly for years, this takes the level of arrogance to an entirely new place.

IT, healthcare, tourism and education have been identified as key fields where India and Kazakhstan can expand partnership, according to Indian Ambassador to Kazakhstan T.V. Nagendra Prasad.

Across sections of society, Indians have conventionally displayed an affinity for buying and investing in gold. The yellow metal has historically been a reliable hedge against economic downturns and inflation. When the S&P 500 Index dropped by 56.8% during the 2007-2009 recession, gold prices went up by 25.5%. From what we’ve seen so far, gold has been a reliable hedge globally. Seasoned investors who understand that the market is too difficult to be timed, continue to allocate some proportion of their investment portfolio to gold.