Digital Financial News

With a strong emphasis on prioritizing the ultimate consumer experience, Terrific Minds designs customized solutions utilizing leading-edge platforms such as VTEX. Since 2015, the company has been working with global businesses to reimagine their ecommerce and deliver 10 times value across all domains - be it web design, app development or workflow management.

Shoogloo Group launches its new venture Broadband.asia in India, Singapore, UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar. Broadband.asia, a one-of-a-kind online comparison website, is designed to filter, select, and compare broadband plans based on users’ preferences. By personalizing broadband plans, Broadband.asia helps consumers meet their internet demands. Users can now search for plans available in their area, decide on the price range and features to find an internet plan that meets all their needs.

The Albanese government is moving to regulate Apple Pay, Google Pay and other new digital payment services by expanding the Reserve Bank’s powers, with draft legislation to be released on Wednesday.

Mint breaks down how. Hassan’s visit drove India’s relationship with Tanzania forward in key ways. First, bilateral ties were elevated to the level of a strategic partnership.

By Alexander Marrow

The escalating costs of commercial spaces in metropolitan areas have propelled commercial development in Tier 2 and Tier 3 cities. The surge in entrepreneurial endeavours and the demand for budget-friendly spaces have also contributed to this growth, says Mohit Goel, Managing Director, Omaxe Ltd, a prominent real estate player in northern India.

Fibe, (formerly known as EarlySalary) and Axis Bank have partnered to launch India’s first-ever numberless credit card for tech-savvy Gen Zs. With a numberless credit card, customers get an added level of security as there is no card number, expiry date or CVV printed on the card plastic. This reduces the risk of identity theft or unauthorised access to customer’s card details ensuring absolute security and privacy. 

By Srinath Sridharan

Kicked off in November 2022, up to 30 banks, working in concert with infrastructure providers Bizum, Iberpay and Redsys, ran a PoC with the aim of undertaking an in-depth analysis of the technical, operational and business implications of the digital euro and its co-existance with existing payment instruments. The tests encompassed various use cases for digital euro payments, including person-to-person transactions and payments in both online and physical commerce.The consortium say the results point the way to a digital euro design that would leverage existing payment rails and value-added services, such as the Spanish instant payment platform Bizum."In particular, Bizum would be prepared to interconnect with other potential European services.

Ashutosh Bhargava, Fund Manager and Head of Research, Nippon India Mutual Fund, says “in terms of quality, 80-85% of the fixed income assets are in the investment-grade category and where most of the assets are into government or government-related securities. We are keeping both duration and credit risk low as far as our sustainable strategy is concerned.” A lot has been said about the balanced advantage fund, a category which is much safer than an aggressive approach in a complete equity-oriented portfolio. Talking about having an exposure in equity as well as in debt, how are fund managers allowed to place themselves in terms of exposure, in terms of ratio in equity and debt in a balanced advantage category? As the name itself suggests, there is an advantage for a typical balanced fund. In a typical balanced fund, one can remain 65% to 70% invested in equity and the rest 30-35% in fixed income. In balanced advantage funds, you can bring down the net equity exposure significantly below 65% to say 30%. That happens because of the model which is involved in these kinds of funds. This model ranges from valuation-based models to more hybrid kinds of models. The idea here is to reduce the drawdown, to move between equity exposure from say 30% to 80% based on the signals that you are getting on valuation and other trend indicators.

“What is it for?" is the essential question facing the cryptocurrency industry, including from regulators. Videogames have emerged as an answer—if only they could get rid of the speculators. The continuing trial of Sam Bankman-Fried, founder of collapsed exchange FTX, is a reminder that crypto has turned into a big bet on itself rather than the alternative to traditional finance it once promised.

Radhika Gupta, MD & CEO, Edelweiss AMC, says “I do not think the portfolio for a future India can only be a largecap centric portfolio which is what they used to be. The portfolio is going to be a lot more balanced. It cannot be a fully mid and smallcap portfolio, perhaps. But it probably will be an equal weight portfolio of large, mid and small caps. The Indian opportunity is truly multi-sectoral and multi-cap in nature.” You have come out with a very interesting note and research. What are those factors which are coming together to make this decade a potentially good decade for corporate India, for macros and which will be getting reflected in markets as well? Finally markets are an outcome of corporate profitability and of what the economy is going to deliver and as people, we spend a lot of time talking about short-term markets but really what we are investing in when we are investing in funds is investing in India and India's decade.

fintech startup Fibe (formerly known as EarlySalary) said on Tuesday that it has partnered with Axis Bank to launch a numberless credit card. The card is powered by RuPay, which allows the customer to link it with the Unified Payments Interface (UPI) system.

FedEx Express has announced a new automated e-commerce capability in FedEx Ship Manager™ (FSM) which supports small businesses and e-commerce merchants in India. The new service by FedEx Express, a subsidiary of FedEx Corp, is aimed at efficiently managing business' shipments online.

Devansh Jain, Wholetime Director, Inox Wind, says “in Inox Wind as well, over the next 12 to 15 months, our target is to go net debt-free. Hopefully, we will achieve that much sooner than our internal guidance. Every quarter should be better than the previous quarter, at least for the next four to six quarters. So hopefully, given the huge wealth we have created for our investors across Gujarat Fluoro and other companies, we should be doing that at the Wind level and the Green level in the near future as well.” First up, let us discuss the stake sale that you have announced in one of your wind energy SPVs. What kind of inflows are you expecting on account of this sale? When will that money come in and what does it do to your debt? Yesterday we announced the sale of a 50 MW operational SPV called Nani Virani. As you may be aware, we have sold four such SPVs in the past. This was the last SPV. We have committed that over the course of this financial year, it is our target to make Inox Green net debt-free. Broadly, the sale of this asset will give us close to Rs 300 crore, including the debt which goes off. So that Rs 300 crore goes off towards the Inox Green balance sheet, which makes it a net debt-free company.

The Promise and Challenges of Tokenization

Key Takeaways

Key Takeaways

«The risk to reward is clearly in favour of going long on the Bank Nifty at current levels given the fact that some of the midcap ITs have already rallied and we are seeing the kind of sharp rally in the real estate already in trade today,» says Aditya Agarwala, Invest4edu. DIIs are sitting on elevated cash levels who knows but it was just a one-day scare. Such a tragic and unfortunate event and on such a large scale unfolding in Middle East and what do we get, barely 1.5-2% cut on the smallcap index. To be honest we did get a bit of geopolitical tension and markets tend to correct significantly on back of geopolitical tensions, but to be honest markets had started correcting and showing signs of weakness much before this news came out and many a times what happens is whenever you have an event it tends to form a bottom for the market and from there it usually tends to inch higher. So, I could feel that this was one of the cases where markets were waiting for some kind of a negative news and we got a negative news in trade yesterday wherein markets corrected a bit. What was interesting to notice is Nifty did not break the highs of the hammer candle that we had gotten last week which was very interesting.

Ambuja Cements Ltd. have received internal approval for the deal, according to people familiar with the matter. The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc, said the people, asking not to be identified when discussing a private matter. They’re part of a larger consortium in talks for the syndicated loan to billionaire Gautam Adani’s conglomerate.