Digital Financial News

Singles Day shopping festival, data from Counterpoint Research showed, lagging domestic rivals Huawei and Xiaomi which recorded robust increases. The number of Apple smartphones sold declined 4% year-on-year during the two-week sales from October 30 to November 12, the research consultancy said on Thursday. In comparison, the number of units sold by Huawei and Xiaomi grew 66% and 28%, respectively year-on-year over the same period.

Meta-owned Facebook, Instagram and Google's YouTube, along with all edtech and health platforms, the report further added. In the new framework, age verification for minors is expected to be done using document stores in DigiLocker, Aadhaar-based verification, A Digital Token or the App Store level, according to a government official, as quoted by ET. "There cannot be a one-size-fits-all approach here," the official said, as quoted in the report.

Sherpa 450 engine, a first for Royal Enfield, the bike boasts liquid cooling and incorporates lightweight components, including a forged piston. Not only does it exude a more premium feel, but it also delivers a superior riding experience, thanks to the increased power output from its engine. In a technological leap, the latest iteration of the Himalayan incorporates a digital console—a first for Royal Enfield.

Mastercard, on Thursday, announced a collaboration with U GRO Capital to extend financing solution to small businesses in India that require financial support to maintain and grow their operations. This collaboration aims to address this challenge by enabling a holistic digital supply chain financing solution for millions of small businesses in India. MSMEs in India have long grappled with substantial challenges, including constrained access to capital.

Trudeau highlighted the importance of coordinated G20 leadership and action to uphold the rule of law and international law and strengthen democratic systems, as he participated in a virtual G20 Leaders' Summit hosted by India. Trudeau's participation in the summit comes amidst strains in ties between Canada and India following his allegations in September of the «potential» involvement of Indian agents in the killing of Khalistani separatist Hardeep Singh Nijjar on June 18 in British Columbia.

Reliance Industries Ltd., has partnered with sports enterprise Sports For All (SFA) to broadcast school-level sports competitions on television and digital platforms. The SFA Championships will be available on Jio Cinema, Sports 18 – 2, and Sports 18 Khel starting 3 December, making grassroots-level sports widely accessible in India. “We endeavour to continue spotlighting school-level talent by including SFA Championships in our portfolio," said Siddharth Sharma, head of content, TV and Digital, Viacom 18 Sports, in a statement.

TikTok creator Manjita Manandhar was caught off guard when the Himalayan nation banned the popular social media platform last week for disturbing «social harmony and goodwill». «I was shocked as the decision came suddenly,» said Manandhar, who earns about $1,500 a month by making content for restaurants, hotels and brands, and posting them on the app.

issued notices to India’s #1 edtech company and co-founder Byju Raveendran on a bunch of charges. These include missing documentation on imports and overseas remittances, delayed filings on investments in the company from abroad, and failure in share allotments against such investments. The charges by the ED follow searches the agency did in April at several offices of Byju’s and residences of its top executives.

capital markets regulator Sebi to seek inputs from shareholders while drafting norms and rework them if the proposals are perceived to be much too restrictive, finance minister Nirmala Sitharaman said on Thursday, seeking to allay industry concerns that «over-restrictive regulations» would kill innovation. Speaking at the Digital Acceleration & Transformation Expo in Bengaluru, organised by Trescon, the minister also exhorted state-run banks to further improve efficiency in drawing depositors while remaining cognisant of their role in satiating the vast credit appetite of a fast-growing economy. “Get deposits, give them (depositors) good interest rates, and then make good money out of it as well. But at the same time, be possibly conscious (of the fact that) India's growth depends on banks lending comfortably to people who want to set up units and grow them,” Sitharaman asked the public-sector banks. According to the Reserve Bank of India (RBI) data, non-food bank credit growth touched 15.3% in September, which is lower than the 16.9% a year before but well above the long-period trend. As for striking a balance between regulation and innovation, Sitharaman said: “The government has been suggesting to Sebi that before they come up with any regulation that can be perceived as being restrictive, they should actually consult industry and stakeholders.

data breach at the Tata-owned Taj Hotels group earlier this month, ET has learnt. A threat actor, who goes by the name "Dnacookies", has demanded $5,000 for the full dataset, which includes addresses, membership IDs, mobile numbers and other personal identifiable information (PII), according to people aware of the matter.

Finance Minister Nirmala Sitharaman on Thursday said that in order to prevent con artists from abusing the system, people must become more conscious of cyberfrauds and take control of technology. Speaking at the 'DATE with Tech' event, the minister stated that the government regularly examines public sector banks and the regulator RBI checks its own systems in order to prevent cyber frauds, in which victims are tricked via phone or SMS.

In a market buzzing with anticipation and regulatory crosswinds, Bitcoin has once again captured the spotlight, soaring past the $37,000 mark. This latest surge, marked by a nearly 2.75% to $37,353 on Thursday, comes amidst a backdrop of thin holiday trading and a strengthening dollar.

The UK government has announced a new legislative proposal for a Digital Securities Sandbox (DSS), aiming to create a supportive testing environment for crypto technologies and services.

A Chinese power provider says it has completed the first digital yuan smart contract transaction in the solar power industry.

construction chemicals and building finishing products to the industry, India’s infrastructure push could not have come at a more opportune time. In a conversation with ET Digital, Mahesh Bhanushali, Managing Director & Chairman, MCON Rasayan India Ltd.

Sanjiv Bhasin, Director, IIFL Securities, says “in the last two-three days, more of the largecaps have been showing their strength and if the index has to go higher, it will have to be largecap banks and this undue concern raised by the RBI is a good cause of concern, but it has hardly anything on the ground effect. We all know that this personal loan has reached a climax and most banks are well capitalised, particularly the largecap ones.” Let us start with IT itself. I know Persistent has been one of your favourites. Tech Mahindra had played out very well when you had recommended it. Which are the other stocks from the IT sector that you are picking out right now? HCL Tech has been one of my outperformers. I continue to think that is an outperformer and you can add an LTTS. I have been saying for the last two days that the specific space in defence which they have is doing extremely well and the order book and the execution will take maybe another four quarters but they have a constant flow and that is going to be very positive. So, HCL Tech and LTTS are where you can put your money even now.

₹387.65 apiece on the BSE. Honasa Consumer, the parent company of digital skincare firm Mamaearth, reported a net profit of ₹30 crore in Q2FY24, which doubled from the same period last year. Its revenue from operations grew 21% to ₹496 crore.

Vistas Media Capital, which has ambitions to raise $100 million in capital for its film and digital content projects in India, has closed a $10 million funding deal with Kitara Capital, a Middle East-based global investment group. “We have raised $10 million from Kitaara Capital. This is our first investment for the company, and we intend to raise $100 million for investing in film and digital content over the next three years,” Abhayanand Singh, CEO of Vistas Media, told ET. Singh added that the company will utilise the funds to develop, produce, finance, and distribute Indian content across theatrical and digital platforms globally. «We currently have theatrical and non-theatrical films, as well as digital content, under development in Hindi and Tamil.

Dish TV, and Sun Direct—declined nearly 10% to Rs 11,072 crore in FY23, compared to Rs 12,284 crore the previous fiscal year, according to data obtained from the four firms' regulatory filings. Furthermore, the four DTH companies have incurred a net loss of Rs 2143 crore cumulatively, with Dish TV posting the biggest loss of Rs 1684 crore. All four DTH operators recorded losses in FY23, while three of the four DTH operators—aside from Dish TV—reported profits in FY22. However, Dish TV’s losses in both FY23 and FY22 were due to exceptional items amounting to Rs 1,908 crore in FY23 and Rs 2,654 crore in FY22, the company said in a statement. It added that the exceptional items were due to the impairment of intangible assets under development, trademarks or brands, property, plant equipment (PPE), and goodwill related to its merger with Videocon D2H and related accounting. Experts say that the DTH business is under stress due to a decline in the subscriber base and the average revenue per user (ARPU).

ARN Media’s proposed acquisition of Southern Cross Austereo has been dealt a blow, with the Takeovers Panel ruling it improperly acquired a stake in the television and radio broadcaster from fund manager Allan Gray.

Alan Mamedi, Co-Founder, Truecaller, says he welcomes the Indian government bringing in laws on data privacy. “We think it is great. We think not only does it protect consumers like Truecaller does, but it also helps businesses. It empowers businesses to grow as well, but in a structured way,” says Mamedi. There have been instances of AI aided phone frauds with fraudsters impersonating a relative, friend or others. How is Truecaller tackling this menace? We launched our AI assistant that can pick up the calls.