Digital Financial News

Aadit Palicha said on social media platform X (formerly Twitter) that sales of puja flowers were skyrocketing right before the match began at 2 pm. He also shared a graph of how the numbers stacked up when compared to a regular Sunday. “India's religious side is starting to show! Sales of puja flowers are through the roof today compared to a regular Sunday We thought it was because of Chhath Puja, but there's been a major spike since the match started,” he said.

Startups will play an important role in helping India become the third largest economy in the world, chief economic advisor (CEA) to the government V Anantha Nageswaran has said. Nageswaran said that tier-2 and 3 cities, including Kerala's capital, have become game-changers in helping startups flourish in the country due to improvements in infrastructure and supportive policies of the government, according to a Kerala Startup Mission (KSUM) release.

Anantha Nageswaran has said that startups will play an important role in India achieving its developmental aspirations and becoming the third largest economy in the world, PTI reported Sunday. Speaking on the concluding day of the Huddle Global 2023 organised by the Kerala Startup Mission (KSUM), Nageswaran said the tier-2 and 3 cities, including Thiruvananthapuram, have become game-changers in helping startups flourish in the country due to improvements in infrastructure and supportive policies of the respective government, a KSUM release said.

By Andreas Rinke

By John Kallelil

economy goal. There is a “wide consensus" supported by economic forecasts that real gross domestic product (GDP) growth in the second quarter will turn out to be better than the Reserve Bank of India’s (RBI) projection of 6.5 percent, an article in the central bank’s November bulletin said on November 16. India’s economy expanded 7.8 percent in the first three months of the financial year and RBI governor Shaktikanta Das recently expressed confidence in the domestic economy.

In recent financial news, Bitcoin (BTC) has witnessed a significant fluctuation in its market value, drawing attention to its latest price movements and the implications for investors and the cryptocurrency market as a whole. Despite a recent decline that triggered the largest bull liquidation in three months, Bitcoin is showing signs of resilience.

Finance Ministry has asked state-owned banks to review systems and processes related to their digital operation in view of the recent UCO Bank incident. According to sources, the banks have been advised to check their cybersecurity robustness and take measures to strengthen them.

children under 12 years of age, impacting their development, scientists have found after reviewing 33 brain imaging studies spanning 23 years and involving 30,000 participants. Screen time, referring to the time children spend watching television or playing computer games, was found to impact the development of executive functions of brain such as working memory, planning and responding flexibly to changing situations by making structural changes in the pre-frontal cortex, the scientists found.

cricket fervour peaks for the ICC World Cup showdown between India and Australia at Ahmedabad's Narendra Modi Stadium, the fortunate few attending the live spectacle are gearing up for an electrifying experience. In a helpful post on X, cricket enthusiast Kaashvi Saxena shared essential tips to ensure a smooth and enjoyable time at the stadium. In adherence to stadium policies, Kaashvi emphasised the need to travel light, pointing out that items like AirPods, earphones, and power banks are strictly prohibited.

OpenAI employee shares that would value the startup at about $86 billion on paper hangs in the balance after the sudden firing of CEO Sam Altman and a slew of top executive departures, the Information reported on Saturday. The tender offer, which Thrive Capital is leading, has not yet closed but has been in its final stages and was expected to be completed as soon as next month, the report added, citing a person familiar with the matter.

Andrew Holland, CEO, Avendus Capital Alternate Strategies, says “we have been dipping our toes in the power financier space. I think everyone is shifting a little bit away towards this type of financing companies and just away from NBFCs in the short term. There is a lot more to go because it is the renewables sector and it is something important to governments globally and it is going to see a lot of investment. So, the likes of REC will continue to do well and gain market share.” Would you be a buyer of some of these stocks which took it on the chin on Friday – L&T, RBL, some other PSU banks as well? You know it has been interesting. We have kind of been scratching our heads over the past few months about the whole financial sector and particularly the banks with their stellar results. Yes, not great commentary about NIMs, but there was something that was just holding the sector back. And maybe now with what the RBI has done, we know what the concerns were. To my mind, it is kind of fairly well priced, given the underperformance.

Sam Altman led OpenAI to the adult table of the technology industry. Thanks to its hugely popular ChatGPT chatbot, the San Francisco startup was at the center of an artificial intelligence boom, and Altman, OpenAI's CEO, had become one of the most recognizable people in tech. But that success raised tensions inside the company. Ilya Sutskever, a respected AI researcher who co-founded OpenAI with Altman and nine other people, was increasingly worried that OpenAI's technology could be dangerous and that Altman was not paying enough attention to that risk, according to three people familiar with his thinking. Sutskever, a member of the company's board of directors, also objected to what he saw as his diminished role in the company, according to two of the people.

Sam Altman and Greg Brockman, two top executives at OpenAI who left the company after a dramatic board meeting Friday, are talking again with board members about returning to the artificial intelligence startup, two people with knowledge of the matter said. The discussions follow an outcry after Altman, 38, was ousted from his role as OpenAI's CEO a day earlier. Since then, OpenAI's investors and Altman's supporters have pressured the four board members of the startup to bring Altman back, six people with knowledge of the matter said.

AMP Bank has become the first bank to increase interest rates for existing customers by more than the Reserve Bank of Australia’s latest cash rate rise, as it tries to turn around shrinking profit margins on home loans.

In the latest market developments, Ripple’s XRP is currently trading at $0.6025, marking a 4% decrease on Saturday. Amidst the ongoing legal battle between Ripple and the SEC, where Ripple’s General Counsel suggests the SEC is losing ground, the XRP price faces a significant dip.

In the ever-evolving world of cryptocurrency, Bitcoin (BTC) has experienced a slight retreat, now trading at $36,410, marking a 0.25% decrease on Saturday. This latest fluctuation comes amid significant developments in the crypto space.

salary revisions in December, according to an internal memo seen by Reuters. The move comes at a time when India's No.4 software services exporter is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals. "We are doing a selective MSI (merit salary increases) rollout based on our business affordability," Nagendra Bandaru, the managing partner and president of the "Enterprise Futuring" business line told employees in an e-mail.

automation major ABB India reported a robust second-quarter performance, with a 78.3% increase in net profit and 30.6% growth in revenue from a year earlier. While large orders have seen traction and demand from core sectors is expected to remain strong in the medium term, it is the tier-two and -three cities that are bringing in double-digit growth, country head and managing director Sanjeev Sharma tells Kalpana Pathak. Edited excerpts: The quarter has been a good one. What are the reasons for this growth? The quarter has been a solid one where we delivered on multiple fronts and the result of actions undertaken over several earlier quarters.

Uttarkashi (Uttarakhand): Their voices are getting weaker, their strength seemingly dimming, those keeping vigil outside the Silkyara tunnel here said on Saturday after speaking to their relatives trapped inside for seven days — and counting. The under-construction tunnel on the Char Dham route collapsed on Sunday morning with 41 labourers inside it. As the hours tick by, the desperation of families waiting outside is mounting.

By Anndy Lian