Digital Financial News

The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the Securities and Exchange Commission’s request to appeal the determination before trial.

₹15.8 trillion, UPI is a big success. With countries like Singapore, Malaysia, the UAE, UK and France accepting UPI linkages, India has impressed others with its financial regulatory system and technology capabilities. India is also pushing for inroads with other dependable offerings, including RuPay, which dominates the domestic debit cards market with over 860 million transactions, worth over ₹1.6 trillion.

When we talk about investing in the US market, most people automatically assume we're talking about S&P 500 stocks.

Britain's upcoming global artificial intelligence (AI) summit will be limited to 100 politicians, business leaders and academics — and will exclude a host of prominent AI startups, according to one of its lead organisers. The highly anticipated event is set to test Prime Minister Rishi Sunak's conviction that Britain can serve as the world leader in regulating the rapidly developing technology, an ambition that has provoked criticism from some.

Call of Duty franchise, Call of Duty: Modern Warfare 3 is making a comeback. The popular video game is set to launch on PlayStation 4, PlayStation 5, Xbox Series X, Xbox One, and PC via Battle.net and Steam on November 10. The multiplayer mode in Modern Warfare 3 will feature all 16 launch maps from the 2009 version of Modern Warfare 2, updated to accommodate the series' latest mechanics introduced over the past 13 years.

Sam Bankman-Fried's trial places the former billionaire in a Manhattan courtroom alongside prosecutors steeped in financial crimes and political corruption cases, a veteran judge, and former friends and colleagues set to testify against him. Here's who will play key roles during the trial, which prosecutors say could last up to six weeks:

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, will ink an agreement with Al Etihad Payments on Thursday in Abu Dhabi to facilitate cross-border transactions, an official said. The memorandum of understanding (MoU) aims to develop the domestic card scheme of the UAE based on India's RuPay debit and credit card stack, the official added.

Apple Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021.

Marico said the demand situation during the September quarter largely mirrored the trends observed in the preceding quarter and instances of rising food prices and below-normal rainfall distribution in some regions seemed to impede the anticipated recovery in rural demand. The maker of Saffola and Parachute said domestic volumes grew in low-single digits on a year-on-year basis, and it continued to witness healthy trends in offtakes, market share and penetration across key franchises. «Consumption trends, particularly in rural, are expected to improve in H2 owing to retail inflation levels staying within RBI’s target range, hike in MSPs, healthy sowing season, easing liquidity pressures and government spending,» Marico said in its quarterly earnings update Among key inputs, copra and edible oil prices stayed in a favourable range, although the latter continued to exhibit some volatility. Crude derivatives remained firm with an upward bias.

Honasa Consumer Ltd, the IPO-bound parent company of direct-to-consumer brand Mamaearth, has appointed Nishchay Bahl as senior vice president for the offline business. Bahl replaces Ashish Mishra, who left Honasa Consumer last month to join Parineeti Chopra-backed personal care brand Clensta as cofounder and chief business officer.

India has appointed Sreenivasa Reddy as the new government affairs and public policy leader for the country, the company said. Reddy joins Google from Microsoft, where he was a senior director heading the extended reality regulatory affairs for Asia Pacific and Middle East Asian countries. Reddy has also served as the head of regulatory affairs at Apple in India between July 2018 and November 2021.

Delhi police on a plea filed by NewsClick founder Prabir Purkayastha and HR head Amit Chakravarty, arrested in a case lodged under anti-terror law UAPA following allegations about the news portal having received money for pro-China propaganda, seeking a copy of the FIR. Additional Sessions Judge Hardeep Kaur directed police to file its response by tomorrow when the court will hear arguments on the application. The court, meanwhile, agreed to hand over a copy of the remand application, filed by police, to Advocate Arshdeep Singh Khurana, the counsel for the accused.

As the trial against Sam Bankman-Fried, the disgraced former CEO of bankrupt crypto exchange FTX, begins, the complexity of the world of crypto is emerging as a significant challenge for both the prosecution and the defense.

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. A study on publicly-funded health insurance (PFHI) for the elderly has been reported to have raised concerns over rising out-of-pocket expenses for the poor. The key limitation of the PFHI policy, it appears, is the over-reliance on a poorly regulated private sector.

State Bank of India (SBI) on Wednesday launched 'Mobile Handheld Device' to provide banking services to its financial inclusive customers. The move is aimed at enhancing accessibility, convenience in availing banking services and to empower financial inclusion and extend essential banking services to the masses. «The Mobile Handheld Device is set to revolutionize banking accessibility by bringing kiosk banking directly to customer’s doorstep.

₹500 crore till now. The film has become the second highest-grossing Hindi film and has surpassed the lifetime collection of the Hindi version of Prabhas starrer “Baahubali 2".

₹5 lakh, providing flexibility compared to standard personal loans. Customers can choose the desired amount and withdraw only what they need at a given time, paying interest on the amount utilized.

TikTok said it will halt its online retail operation in Indonesia on Wednesday to comply with the country's decision to ban e-commerce transactions on social media platforms — a big blow to the video platform's fastest-growing market. The Indonesian government announced the new regulation, which prohibits social media companies from facilitating sales of products on their platforms, on Sept 28 in a bid to protect small businesses from e-commerce competition, accusing the popular apps and websites of predatory pricing. The Chinese-owned video sharing app said in a statement it will stop facilitating e-commerce sales in TikTok Shop Indonesia by 5 pm Wednesday.

Google, Meta Platforms and other large online platforms' content moderation restrictions after some media outlets complained about arbitrary decisions removing their content. The draft rules require online platforms to carry news content for 24 hours before taking it down if this breaches their content moderation rules.

Rohit Agarwal, Senior Fund Manager, Kotak Life Insurance, says “even though India might outperform in the global terms, India will not be immune to global challenges. India will not be immune to the yield rates. For example, if the US 10-year is yielding 5% today, why should a US investor put his money outside his country at all? You are getting risk-free 5% in that country and that is a call that many asset allocators might take and that might impact some flows here and there. But on a standalone basis, India will still stand out in the world as a better place to be in.” What is happening to the global arena right now? Do you think this is just the start of a downturn or this is something that the Indian market will take in its stride and the outperformance will continue? As you said, these are volatile times and though we have not seen some of these yields in the last two decades or so, that does not mean that we do not know how to handle it. It means is there are macro issues on the corner, at the horizon, obviously especially on the global side.