Digital Financial News

Karnataka Bank’s board on Friday decided to raise about Rs 1,500 crore in fresh capital in one or more tranches through preferential issue / rights issue/ QIP or any other permissible mode. The board decision, however, is subject to shareholder approval. The board approved the issuance of up to 3,34,00,132 equity shares of face value of Rs 10 each to HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Quant Mutual Fund, Bharti AXA Life Insurance Company, and Bajaj Allianz General Insurance Company at a price of Rs 239.52 per equity share (including premium of ₹ 229.52/- per share), amounting to about Rs 800 crore on a preferential basis. The proposed issue will help the bank strengthen its financial foundation for future growth.

JioCinema is set to launch a digital film festival on September 29. According to the organisers, the festival will showcase 20 remarkable films across 20 days. A celebration of India's rich storytelling, the festival line-up features titles such as "The Comedian", which revolves around an aging comedy actor in the Indian film industry who has no laughter left in his life, and "Birha" (The Journey Back Home), a story of a family that tears apart due to the unjustified ambitions of a young child. Other films in the line-up are «Ghuspaith: Between Borders», which is inspired by the life and tragic death of renowned Indian photojournalist Danish Siddiqui; «Rat in the Kitchen», a story of a man going through loneliness and having surreal experiences while being at home alone; «Bebaak» a gripping tale about a woman's identity crisis as a Muslim in India; and «The Daughter», a film about a young woman who sets out in search of a man who can help her carry out an act that will test her limits. «Bebaak» producer Anurag Kashyap said he is thrilled to be part of the festival. «India is like a never-ending library of stories, with storytellers waiting to be discovered.

Sale of Apple's iPhone 15 is estimated to have registered a 100% growth compared to that of iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources. Apple has, for the first time, made available 'made-in-India iPhone on the same day it started selling the devices in the country and other parts of the globe. «Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100% growth on Day 1 compared to the sale of iPhone 14. There are long queues everywhere and more people have started coming after their office hours,» an industry source, who did not wish to be identified, told PTI.

Delta Corp has been issued an intimation by the Directorate General of GST Intelligence, Hyderabad alleging tax liability of Rs 11,139 crore along with interest and penalty for the period from July 2017 to March 2022. If the dues remain unpaid it will be served with a show-cause notice, the company said in a stock exchange filing on Friday. «The amount claimed in the DG Notice is inter alia based on the gross bet value of all games played at the casinos during the relevant period. Demand of GST on gross bet value, rather than gross gaming revenue, has been an industry issue and various representations have already been made to the Government at an industry level in relation to this issue,» the company said.

₹2 trillion worth of deposits. Over 55.5% of bank accounts belong to women, and 67% come from rural and semi-urban areas. "The average balance in these accounts is over ₹4,000.

In the ever-evolving landscape of retail, a powerful new trend is shaping the way businesses operate and thrive – the advent of shop-cum-offices. These innovative spaces represent a seamless blend of retail and office environments, redefining the future of the industry and catering to its dynamic needs.

Financial literacy is a critical component of economic empowerment, and it plays a pivotal role in enhancing the socio-economic status of individuals and communities. Unfortunately, in many rural areas around the world, particularly in developing countries, women often face significant challenges when it comes to financial literacy. This disparity can be attributed to several interrelated factors.

Education in Mumbai. At the conference, 13 British universities and higher education bodies discussed areas of mutual collaboration with more than 30 state and private universities in Maharashtra. «Maharashtra's rich educational ecosystem, with prominent institutions and top-notch research facilities, positions it as a hub for innovation and technology. The UK is a natural partner in our efforts to internationalise higher education across the state. »We are looking forward to continuing our collaborations and dialogues with the UK higher education delegation to the state to expand the horizon of the youth in the state with bilateral collaboration for mutual benefit," Principal Secretary of the Department of Higher and Technical Education Vikas Chandra Rastogi said. The largest-ever delegation of UK universities and education leaders is on a five-day visit to India to meet key stakeholders with discussions on internationalisation of higher education institutions through partnership, dual degrees and furthering research collaborations on the agenda. Discussions between Maharashtra-based universities and visiting UK universities took place on two thematic areas on Thursday.

Flipkart on Friday launched a new grocery fulfilment centre, or warehouse, at Sonipat in Haryana that will help the online marketplace expand its grocery services to over 150 pin codes across tier-II and tier-III towns such as Meerut, Panipat, Rohtak and Wazirpur. The fulfilment centre has the capacity to accommodate an inventory of over 40 lakh units, with 2.9 lakh units being dispatched each day, the company said.

India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

cybercriminals. Native English-speaking hackers would call up a target company's information technology helpdesk posing as an employee, and seek login details by pretending to have lost theirs. They had all the employee information needed to sound convincing. And once they got access, they'd quickly find their way into the company's most sensitive repositories to steal that data for extortion.

funding drought for Indian technology startups continued as a total of 16 deals were announced totalling $86 million in the week, down 11% by volume and 74% in value terms over the last week. Year-over-year, the week from September 16 to September 22, fared even more poorly. By volume, it was a 58% drop, and in terms of value, 71%.

As On-Chain trading activity continues to flourish amid a surge in Telegram sniper bots, GOLD token has emerged as the latest breakout following a dramatic +20,000% skyrocket move.

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives.

European Commission slapped a reduced fine of 376 million euros ($400 million) against US chipmaker Intel Friday for abusing its dominance in the computer chip market, after an EU court annulled a bigger penalty. The European Union's antitrust enforcer said Intel had «engaged in a series of anticompetitive practices aimed at excluding competitors from the relevant market», it added.

iPhone 14 and iPhone 14 Pro on the platform last year, Zomato-owned quick grocery delivery platform Blinkit on Friday said that they again partnered with Unicorn, Apple premium reseller to deliver the latest 'Make-in-India' iPhone 15 and iPhone 15 Plus at your doorsteps if you live in Delhi NCR, Mumbai, Pune and Bengaluru. iPhone 15 and iPhone 15 Plus are now officially going on sale in India, including on the Blinkit platform. Blinkit customers will be able to avail no-cost EMI, low-cost EMI and cashback up to Rs 5,000 on eligible HDFC cards.

artificial intelligence (AI) into its processes. The company has integrated its Customs House Agent (CHA) software with an AI solution. One of the achievements of this AI integration is the introduction of «Single Click Automation.» By incorporating AI into various external interface processes, Jeena & Company has achieved improvements in efficiency.

Oyo has added nearly 2,800 corporate clients during the January-July 2023 period, up 11.75% year-on-year (YoY), according to a report from the company titled 'Oyo Business Travel Trends Report 2023'. The report suggests the company recorded a 20% revenue growth from business travel in January-July 2023 against the year-ago period.

Osho Krishan, Senior research Analyst, Angel One, says the first trading pick is Grasim. From here onwards, one can expect that those who have missed the rally in the previous week, can re-enter in the counter for the higher target of 2000. On the downside, one can put a strict stop loss of Rs 1870 on the spot levels. The second technical pick is from auto company Balkrishna Industries. The technical charts of Balkrishna Industries is looking very promising. It is on the verge of giving a breakout.Do you see the short covering in the market to continue? Today we have seen a very strong rebound in the market. But as of now, the 19,800 zone is having a very strong resistance because if you will be looking at the data from the derivative point of view, then 19,800 has a very strong pileup of call writing position. So that means 19,800 should be acting as a stiff resistance. As we are going to have a weekend from tomorrow, there would not be any strong traction that can be seen in today's session. But overall, if the market sustains above 19,720 odd levels, which is the 50% Fibonacci retracement of the recent rally, then, it is a positive development after three consecutive days of stiff or very intensified selloff. One can expect that from next week, our market can see some kind of good momentum or can see some kind of bullish momentum. And from there onwards, one can even look for opportunities on the long side.

«Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts,» says Vikas Goel, MD, PNB Gilts.PNB Gilts is in the business of debt broking. Now that the bond market will open up, how will life change for PNB Gilts?So first, let me clarify, we are not a debt broker; we are a primary dealer in government securities, the only listed primary dealer. So our license is primarily focused on allowing us to be a market maker and supporting the government's borrowing program via being an underwriter. So we are essentially not a broker, we are a dealer. Second, this inclusion, JP Morgan GBI-EM diversified 110 inclusion, obviously it is good news for the country, for the bond markets and what is good news for bond markets is obviously also good news for primary dealers like PNB Gilts.

Anant Singhal, Team Lead, CAPA India, says “in the first quarter of the fiscal, the airlines witnessed very strong yields. In the current fiscal ending this month, there was a dip of about 15% to 17%. Coming to the next quarter, it again will be robust because demand will increase and we expect some upward swing in fares and in the yields that airlines earn.”There have been a lot of issues related to the aviation industry of late, flight cancellations, pilot resignations. What is indicative of the Indian aviation sector? Will we tide over it soon enough?Before I answer your question, I would like to provide some context. Right now, we have about 135 aircraft of Indian carriers that are grounded. Now, with that in mind, the pilot shortage that we would have expected is somewhat better, because 135 aircraft are on ground. As and when these aircraft start flying again and new inductions come in, the challenge of pilot shortage will likely go up and a lot of airlines are expected to face challenges with this area. Right now, it seems to be somewhat manageable, although lately because of the 40 resignations, about 80% of the schedule had to be cancelled. But overall, from the industry perspective, the issue of shortage of pilots is somewhat manageable, but when these aircraft start flying again it will start creating challenges for the industry.