Digital Financial News

Dinshaw Irani, CIO, Helios MF, says “the RBI circular on raising risk weightages for various lending, made banks go back to the pre-Covid levels. The only thing was they came down heavily on the NBFCs rather than anything else. So that is the good part about the RBI move. I think they have done a wonderful job in controlling the asset quality within the system as such. That is one thing one should look out for. ” Have you picked anything up or looked at any interesting companies? There have been a lot of debuts this week? I would not like to comment on this, since now we are running a mutual fund, but I do not think we are too excited in the IPO market as of now. I would stay away from that. What else are you avoiding completely, where you say valuations are higher even though business is good? Basically, FMCG is one area which one needs to avoid. I do not think sustenance of 60-70 PEs for most of these stocks – I am talking about one-year forward PEs – is possible, given that even the rural markets are not firing and the growth rates are in low teens or even high single digits as such. So, that is one area that you need to avoid.

Sam Altman, OpenAI’s ChatGPT has extended the availability of its new voice feature to all free users. What is the ChatGPT voice feature?

Richard Liu, MD-Institutional Equities Research, JM Financial Institutional Securities, says “the way a lot of businesses are going about doing their business planning is that the endeavour is actually to grow faster than the GDP of the country. There are many categories of consumption, which are able to do that. If you are able to do that sustainably and profitably, that is where you have the winners.” Overall, from the investor's point of view, where does the interest lie and what is the view on India right now? The mood is bullish.

Crypto lender Genesis Global Capital has taken legal action against cryptocurrency exchange Gemini Trust in an attempt to reclaim over $689 million. 

SMBs find it difficult to hire and retain talent. They lose business and are unable to grow. Co-working spaces can help these SMBs find high-quality yet affordable offices — so they can grow and prosper, says Aditya Verma, Founder & CEO of The Office Pass (TOP).

In the rapidly evolving world of cryptocurrency, Bitcoin’s market dynamics have taken a notable turn. On Wednesday, Bitcoin’s trading value experienced a 3% decline, dropping to $36,190. This downward shift in Bitcoin’s trajectory coincides with significant developments in the crypto sphere, including the unexpected dismissal of Binance CEO Changpeng Zhao, a prominent figure in the industry, due to US offenses.

Kayla Itsines and Tobi Pearce have sensationally bought back Sweat, the fitness app they founded in 2015 and sold at the height of the pandemic in a $US150 million deal.

Epic Games CEO Tim Sweeney has portrayed Google as a ruthless bully that resorts to shady tactics to protect a predatory payment system

AA flight attendants seek permission to strike. Southwest pilots could be next.

Read here: Q2 Results: Godrej Consumer, ITC, Dabur, Tata Consumer among top analyst picks After strong revenue growth momentum in FY22 and FY23, Axis believes IT services may face challenges on demand and margin fronts on account of the economic slowdown and macroeconomic uncertainties. It has a skeptical near-term outlook for North America (40 percent of revenue). It further pointed out that deal wins remained resilient even during the difficult times, which gives us confidence that automation spending will rebound strongly in two to three quarters.

Tata Technologies, the third-biggest IPO (in terms of issue size) in 2023, opened for subscription today and will conclude on November 24. The company aims to raise ₹3,042.51 crore through the IPO, which is a complete offer for sale (OFS). The company has set the price band in the range of ₹475–500 apiece.

Sunbird, the iMessage app for Android, has temporarily shut down its service over «security concerns». Sunbird, which was launched in late 2022, has recently gained more attention after joining forces with Nothing to offer the «Nothing Chats» app, which allows iMessage to be used on the Nothing Phone (2).

While making such a payment is normally unavoidable, it is important to ensure that the payment is acknowledged. There should also be proof of token money being paid. This ensures the safety of the money if the house owner later refuses to sell the property. Here are some things you should keep in mind while paying token money to a seller.

Life Certificate to approved Pension Disbursing Agencies, such as the Bank, in November. The government has permitted the seniors in the age category of 80 years and above to file Annual Life Certificate from 1st October, instead of 1st November, every year, in order to give an extra special window to very senior pensioners. Jeevan Pramaan Patra: 6 simple steps to submit Digital Life Certificate using face authentication Defence pensioners must perform annual identification which can be done using Aadhaar, or providing life certificates issued by designated authorities to have the entitled pension credited to their bank account. The majority of post-2016 pensioners have now been moved to SPARSH, and over 39,000 pensioners were unable to submit their life certificate by the extended deadline of March 22, 31. “System for Pension Administration (RAKSHA) (SPARSH) is being implemented for meeting the pension sanction and disbursement requirements for Armed Forces viz. Army, Navy, Air Force and Defence Civilians,” according to the SPARSH website. According to the SPARSH FAQs, “For identification using Aadhar (Digital Life Certificate): Go To: Services > Identification > Digital Life Certificate. For identification using Manual Life Certificate: Go To: Services > Identification > Manual Life Certificate.” Also Read: Productivity-linked bonus announced for employees of Indian Army: Eligibility, bonus calculation and more The procedure for submission of life certificate is as under :- Jeevan Pramaan Portal (JPP).

Chinese police say there has been an increase in CBDC-themed money laundering schemes as the digital yuan rollout continues.

Tata Technologies IPO: The Tata Group's much-awaited initial public offering (IPO) is all set to open for subscription today (November 22, 2023). Tata Technologies IPO has gripped the pulse on D-Street, being the first issue from the group firm after nearly 20 years. Tata Consultancy Services (TCS) was the last IPO from the Tata Group which got listed on the bourses in 2004.

Prime Minister Narendra Modi will host the virtual G20 Leaders' Summit on Wednesday evening, marking a significant convergence of global leaders. As reported by ANI, the summit will include the participation of leaders from all G20 member countries, the Chair of the African Union, and representatives from nine guest countries, along with the heads of 11 international organizations—all of whom have been extended invitations to attend.

Venugopal Garre, MD, Bernstein, says “the top private banks would be the priority at this juncture because I do not have too many regulatory risks to contend with, for that particular pack. That will be still at the top of the pack, which is what we are essentially playing at this juncture. I have not been too confident around NBFC models in general, especially the larger ones. Some of the SMIDs (small and midcaps) have done really well, but the way to play that for me was my, through my SMID allocation. That is the way I am approaching the financial sector, especially over the next 12 months.” There is really something special happening in the US tech space, looking at the valuations of Nvidia or Microsoft or for that matter, even, Apple now, market caps of trillions of dollars are getting created. If one has to look at that as the mega trend where IT is where all the action and excitement is, what is the best way to participate in India? Indian IT largecaps do not offer this play. But when such exciting things are happening in the tech world, how can Indian investors participate in that? I would say this is a very important question, but very tough to answer because of the nature of opportunities you get in India.

cryptocurrency exchange in the world, pleaded guilty to money laundering violations, the government said Tuesday, a stunning blow to the most powerful and influential figure in the global crypto industry. Binance itself also pleaded guilty and agreed to pay $4.3 billion in fines and restitution to the government, according to federal authorities. Under the agreement, Binance reached settlements with the Justice Department, the Treasury Department and the Commodity Futures Trading Commission, which have all been investigating the company for years.

Russia’s pivot to the Global South, Western, South and Central Asia is strategic and long-term. While Moscow’s partnership with New Delhi has deep mental and cultural roots, Russia-China ties does not have dimension of a military alliance, Prof. Alexander Dynkin, President of IMEMO (Russia’s top think tank) & leading economist tells ET’s Dipanjan Roy Chaudhury ahead of Primakov Readings (Russia’s premier foreign policy forum) in Moscow on October 27-28.

global smartphone market returned to growth in October after more than two years of slump, helped by a recovery in the emerging markets, according to data from Counterpoint Research. The data showed that global monthly smartphone sell-through volumes grew 5%, making October the first month to record year-on-year growth since June 2021, breaking the streak of 27 consecutive months of negative year-on-year growth.