Digital Financial News

2023 was a roller coaster of a year for the markets, fuelled by rate-cut expectations from the US, the UK and Europe, global tensions erupting in the Middle East and, not least of all, disappointing news from China’s economy.

Captain Fresh raised Rs 110 crore in a funding round from Andhra Pradesh-based Nekkanti Sea Foods and financial and investment firm Shakti Finvest. The funding was done through an issue of 1,102 convertible preference shares at a price of over Rs 9 lakh each, the firm said in a filing with the Registrar of Companies.

Zuno General Insurance, a modern digital insurance provider, unveils its newest health insurance offering: Zuno HealthPlus Policy. This cutting-edge health insurance scheme is crafted to deliver personalised coverage and advantages to both individuals and families, all at a reasonable premium. This product, adjusted for inflation, enables coverage for as many as nine family members under a single policy, simplifying the management of multiple policies.

Blockchain firm CertiK recently issued a high-priority warning to users of the OKX Wallet, particularly those using the iOS application. The alert, communicated via social media and other channels in December 2023, stressed the urgency for users to update their applications due to a critical security flaw discovered by the firm.

Brian Armstrong, the CEO of Coinbase, recently addressed the political landscape in the United States regarding cryptocurrencies. He believes that a strong anti-crypto stance by politicians may be a poor strategic move for the upcoming 2024 elections. This opinion comes in the context of the evolving digital asset landscape and increasing adoption of cryptocurrencies among American citizens.

₹25,000. Significant modifications are anticipated in both the exterior and interior of the Creta facelift, with the manufacturer providing a sneak peek into the redesigned cabin. The upcoming Hyundai Creta is adopting a more minimalist approach to its dashboard design this time around.

Bajaj Finance Ltd, part of Bajaj Finserv, has announced the launch of Digital Fixed Deposit (FD), and is offering exclusive rates of up to 8.85% on deposits booked via its App and Website.

Roshan Thomas has resigned from the company adding to the spate of senior-level exits at the trouble edtech firm over the past few months. Thomas, a former Shardul Amarchand Mangaldas partner had joined Byju’s in 2021.

Finland will have to show more funds in thei bank accouts to be eligible for a Schengen visa. Effective from the new year, the Ministry for Foreign Affairs in Finland has implemented new regulations impacting short-stay travelers requiring Schengen visas. Travelers will now have to show a minimum of 50 euros for each day spent in Finland, marking an increase of 20 euros from the previous requirement. This 66% hike comes in response to escalating living costs, the ministry said. A Schengen visa serves as an entry permit for short-term or temporary visits, granting individuals access to travel within the Schengen area, encompassing multiple European countries. Along with the increased financial requirement, Finland has introduced a new proof of sponsorship or accommodation scheme. This initiative allows visa applicants to use the financial resources of their hosts in Finland to meet the stipulated funds requirement. Under this arrangement, hosts are required to complete the sponsorship form, which the visa applicant must include along with the rest of the application. This provision aims to enhance the transparency and accountability of financial arrangements for those seeking short-term stays in Finland.

In the dynamic world of cryptocurrencies, Bitcoin currently trades at $45,224, marking a slight decrease of less than 0.50% on Wednesday. In a significant move, Michael Saylor has initiated the sale of $216 million in MicroStrategy stocks, opting to invest further in Bitcoin.

The world of cryptocurrencies is known to be quite volatile, with the influence of major investors and fluctuating investor sentiments constantly shaping the market. Amidst this ever-changing environment, a new player has emerged that is garnering the attention of major investors and could potentially outdo established entities such as Shiba Inu (SHIB). This new contender is Retik Finance (RETIK), a decentralized finance (DeFi) platform that boasts innovative solutions designed to attract major investors and make it easier for them to navigate the digital realm. Why are whales backing this RETIK token instead of Shiba Inu (SHIB)? Let’s find out in this article.

Narendra Modi inaugurated and laid the foundation for various projects worth Rs 1,150 crore in the Union Territory of Lakshadweep on Wednesday. The projects were launched at a function attended by hundreds of islanders here. This includes the Kochi-Lakshadweep Islands Submarine Optical Fibre Connection (KLI — SOFC) project, which he announced in his Independence Day speech in August 2020 at the Red Fort.

Chakri Lokapriya, CIO & MD, TCG AMC, says: “The midcap idea for 2024 is Sterling and Wilson. This company now makes up the solar industry. They benefit from a fall in solar module prices. Reliance Industries owns about 40% of the company itself. Amongst the largecaps, SBI and ICICI Bank have good valuations and strong balance sheets. Among smallcaps, the top idea is a very small chemical company called Gujarat Themis. Valuations are on their side and they are beginning to get some export and other orders.” Give us a sense as to what the outlook is when it comes to PSUs as a whole because a lot of top market experts we have been interacting with seem to be of the view that the year ahead as well could look fairly promising. What is your sense after the heady run up? Chakri Lokapriya: Indeed. As we go into 2024, PSUs are still very well placed. Some of the PSUs, of course, have run very sharply but their evaluations are still not demanding. Now, why have they run up? If you take PSU financials, basically their balance sheets are very strong. NPAs are very low. Credit cycle for corporate government capex has picked up and will continue to do well.

Alternative Investment Funds (AIFs) in India. This platform provides a seamless solution, simplifying the challenges faced by fund managers and investors in dealing with the intricacies of AIFs. Over the last decade, commitments to AIFs have experienced an astonishing surge, skyrocketing from ₹1,437 crore in 2013 to ₹8,33,774 crore in March 2023—an extraordinary 580x increase.

Russian tax authorities will start collecting taxes in digital rubles from 2025, with banks also handed powers to block “suspicious-looking” CBDC transactions.

Groww, AngelOne and PhonePe are emerging as top distributors of mutual fund products, adding lakhs of new systematic investment plans (SIPs) every month. They drew in nearly half the new SIPs opened in November 2023, according to data from asset management companies shared exclusively with ET. The Association of Mutual Funds of India (AMFI) noted that over 3 million new SIPs were created in November 2023, of which around 1.3 million were opened on fintech platforms, according to industry estimates. Groww opened more than 700,000 new SIPs while more than 200,000 were generated by AngelOne and over 120,000 by PhonePe. Paytm Money, the wealth management subsidiary of Paytm, generated around 76,000 new SIPs in November.

Best refrigerator in India: Top 8 choices for modern kitchens As households navigate the options available, the choice of a washing machine becomes a pivotal decision. The LG 7kg top load washing machine, with its distinctive features and user-friendly design, stands out among its competitors. Its 7kg load capacity strikes an optimal balance, catering to the demands of contemporary lifestyles without compromising on efficiency.

Barclays analysts downgraded the rating on Apple (AAPL) stock from Equal Weight to Underweight, expressing concerns about a prolonged period of weak results and the potential for multiple expansion not being sustainable.

Washing Machine is its user-friendly control panel, allowing users to navigate through various wash cycles and settings with ease. The 6.5 kg drum capacity strikes a harmonious chord between handling sizable laundry loads and ensuring optimal washing performance. As we embark on a journey to compare the LG 6.5 kg model with its competitors, it becomes apparent that the market is rich with choices.

Shares of crypto-adjacent companies rose Tuesday while the price of Bitcoin skyrocketed above $45,000, its highest level since April 2021, as anticipation of a spot exchange-traded fund built.

Crypto voters could play a key role in swinging the 2024 election, a new survey from the Crypto Council for Innovation reveals.