Digital Financial News

Small, and Medium Enterprises (MSMEs). This is a first-of-its-kind comprehensive digital proposition that caters to the real, current, and emerging Transaction Banking needs of MSMEs. Neeraj Gambhir - Group Executive and head - Treasury, Markets, and Wholesale Banking Products, at Axis Bank, said, “The MSME Business Banking landscape is evolving rapidly, and there is a need for a comprehensive solution for all their Banking and Beyond Banking requirements.

«If you look at what Teva has been saying, what Viatris has been saying, I think all of them are consistently calling out that the pricing environment is softer this year. And on top of that, as you were talking about, we are seeing some supply disruptions in the market,» says Nithya Balasubramanian, Sanford Bernstein.Let us first address the so-called elephant in the room and that has always been U.S. markets. Has pricing erosion further eased? What is the situation when it comes to the drug and the injectable shortage? I mean, is there more to the ray of light for trade generics?See, in the US, we do see pricing deflation has softened, especially compared to last year. We think pricing deflation was trending at minus 15, minus 20%, even depending on the portfolio. And we think that is down to low single digits this year. And I think that is now being consistent commentary from most of the players, most of the Indian generic companies, as well as some of the global MNCs as well. If you look at what Teva has been saying, what Viatris has been saying, I think all of them are consistently calling out that the pricing environment is softer this year. And on top of that, as you were talking about, we are seeing some supply disruptions in the market.

ONDC) has enabled a network-level gift card — “ONDC Network Gift Card” — that companies can use for corporate gifting and employee engagement ahead of the upcoming festive season. Gift cards can be loaded for a maximum amount of Rs 10,000 and are powered by the Rupay Network.

Ashish Gupta, CIO, Axis Mutual Fund, says “following inclusion of Indian bonds into the JP Morgan EM index next year, while money will flow directly into the fixed income markets, it will also drive the overall liquidity in the ecosystem. There can be flow of money into the equity market. The rate sensitives are driving the market today because there is potentially an easier outlook on rates with improved liquidity. Traditional beneficiaries like banks, NBFCs and real estate would be the first port of call. Industrial stocks will also benefit.”It was more a bolt out of the blue when the US Fed upgraded their economic guidance for next year. What would be the implications of that because at the beginning of the year, the narrative was that the US will slow down or hit a patch of soft landing and China will come back and surprise everybody. Well, the surprise has come, but it is the opposite of what we anticipated.No, I think you are absolutely right. The global macro has surprised this year. But the positive surprise has primarily been only from the US and if we look at global growth in aggregate, while the US has surprised positively, Europe has surprised negatively and China, as you mentioned, has been a negative surprise.

Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress.

Bitcoin (BTC), the world's largest cryptocurrency, experienced a dip on Friday as it failed to maintain its upward momentum and dropped below $27,000. 

Delhi Chief Minister Arvind Kejriwal has embraced a new digital avenue to connect directly with the people of the city. His personal WhatsApp channel went live on Friday, shortly after the launch of the Delhi Chief Minister's Office (CMO) WhatsApp channel earlier this week. The move underscores the Delhi government's commitment to establishing a more «personal connection» with its citizens, as stated by the Chief Minister's Office (CMO).

Telecom Regulatory Authority of India (TRAI) has issued a pre-consultation paper seeking inputs from stakeholders for the formulation of the National Broadcasting Policy (NBP), which has been in the works for the last four years. The pre-consultation paper has been issued following a letter from the ministry of information and broadcasting (MIB) dated July 13 requesting TRAI to give its inputs on the NBP. The ministry has been putting together a comprehensive policy for the broadcasting sector on the lines of national policies for other sectors like telecom. The TRAI's pre-consultation paper touches upon aspects like the need to have public service broadcasting and the policies required for TV, print, radio, and digital. Other key issues that are up for discussion include the promotion of local content, containing piracy, and having a separate regulator for the broadcasting sector, which includes segments like TV channels, cable TV, direct-to-home (DTH), and over-the-top (OTT), among others. The pre-consultation paper also discusses issues like having a robust grievance redressal mechanism to ensure compliance with the advertising and programme codes. The regulator has also sought input on issues like strengthening the audience measurement system. The stakeholders have been asked to provide their comments on ways of unlocking growth in the animation, visual effects, gaming, and comics (AVGC) sector. Stakeholders have to send comments by October 10. According to the recent FICCI-EY report, TV broadcasting sector revenues dipped 1.5% to Rs 70,900 crore in 2022.

Q: At Adobe's Best of SUMMIT event, we discussed how 'Experience Led Growth' is foundational to the success of every business. How does digital transformation fit into your company's growth agenda? Praneeth Obilisetty: As a company, we largely have an offline presence. Anybody who has been through a painting cycle will have an experience of offline collaterals with chip cards and the whole cumbersome process that comes with getting your space repainted.

IPO) due to volatile market conditions, a person with direct knowledge of the matter told Reuters. The person spoke on condition of anonymity as the information is not yet public.

Most analysts were cautious on the IPO over aggressive valuations. «If we attribute FY23 earnings to the post-IPO fully diluted paid-up equity capital of the company, the asking price is at a P/E of 66.7,» analysts said. However, the company received a decent response from investors as the issue was booked 12.57 times on strong institutional interest. The IPO comprised fresh issue of equity shares worth Rs 392 crore and an offer for sale (OFS) of 1.04 crore shares by promoters, investors and other shareholders.

“Market movements reflected that the bulls are in control at the moment and if this bull run continues then the market climbing to some new highs during Diwali cannot be perhaps ruled out,” says Ajit Banerjee, CIO of Shriram Life Insurance Company. In an interview with ETMarkets, Banerjee said: “Space and Defence sector in view of the government focus on developing these sectors and strive towards attaining Atma Nirbhar Bharat will propel the growth” Edited excerpts:What a week for Indian markets – 20,000 and counting – what next? The NSE (Nifty -50) reached the 20,000 milestone early last week and continued in the 20 K territory during the week and closed at 20,192 at the weekend.

Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd., says “one should not be getting euphoric in EMS space. The same thing applies to defence and railways stocks. We will have to keep a level head on this particular aspect. There is going to be growth. There is going to be opportunity. But at the same time, one should keep an eye on whether they will generate enough margin. Keep an eye on whether they generate growth beyond 20%.”In the case of PSU stocks, when you see price action, which is close to its free float, and then the government holding is tight, one would expect a lot of volatility.I probably do not want to disagree but I would like to say that the market has created a situation where in an election year, the government is not likely to divest public sector companies shares and as a result of which, the free float in the market is going to remain comparatively tight. As a result of which and because of the new funds which are coming into the market, people would like to buy something which they missed out till now. As a result, they would create a situation of buying into them.

India in itself is an asset class in the global arena, and equities are well poised to deliver superior returns compared to all other asset classes, saysJiten Doshi, co-founder and chief investment officer of Enam Asset Management. “We feel we are amidst a once-in-a-lifetime phase of India registering its presence of being a break-out nation,” says Doshi, who oversees close to $4 billion of assets. Doshi believes it’s time to allocate a sizeable part of incremental income in equities to create generational wealth, as this growth phase will ride multiple megatrends like digitization, financialization, premiumization, manufacturing renaissance, and benefit multiple sectors. Edited excerpts from an interview with ETMarkets:Many money managers believe that valuations are stretched across market cap. Do you also believe so or contradict?We feel there are two plays in the markets — value and price. When we contend valuations are expensive — it means that prices are high. Our core premise in investing is to own a good business, which presents long growth visibility, and generates better business returns. As things stand, prices are high, but has the value changed? Not necessarily.

The South Korean city of Busan says it will launch a long-awaited blockchain-powered digital assets trading platform before the year is over.

large contracts coming up for bidding, which accelerated in the December quarter, continued and led Genpact to book «record deals» in the first two quarters of 2023, NV (Tiger) Tyagarajan, chief executive at the US-headquartered business process management firm, told ET. The London-based executive said the company’s data-tech-artificial intelligence segment, which accounts for 45% of total revenue, will make up half of its revenue by 2026. Almost 100% of Genpact's client conversations in the last few months have been converted into engagements where generative AI (GenAI) is being used in their regular operations, he added.

Hiranandani Group, has submitted revised proposals for an assembly, testing, marking and packaging (ATMP) facility and a compound semiconductor unit, along with other companies, officials told ET. «Apart from an ATMP proposal, they have also submitted one for compound fabs,» one of the officials told ET.

As Bitcoin's volatile movement continues, recent market activities have seen the pioneering cryptocurrency tumble below the crucial $27,000 support level. 

Mukesh Ambani's broadcasting unit Viacom18 is set to sign a lease deal with Blackstone-owned Nucleus Office Parks for its new headquarters in Mumbai, spread over 400,000 square feet, six sources familiar with the matter said. Viacom, which runs TV channels and digital streaming platform JioCinema, competes with the likes of Walt Disney in India. Its new headquarters will be spread across roughly eight floors spread across the «One International Center» complex in Mumbai's business district of Lower Parel. «It is a marquee deal in terms of area.

MUMBAI : Moonlighting has waned in the tech services sector as a subdued job market, fewer freelance gigs and back-to-office policies shrink opportunities for employees keen to make a quick buck on the side. The change also marks a reversal of fortunes in the tech sector, where it had become a serious concern during the peak of the pandemic-fuelled boom. IT firms fretted that the trend would affect productivity, create conflicts of interest and cause data breaches.

Artificial intelligence tools that can conjure whimsical artwork or realistic-looking images from written commands started wowing crowds last year