Digital Financial News

Senco Gold & Diamonds on Thursday said they have taken a major step forward to tap the digital landscape with the launch of its first virtual showroom, Sencoverse, on the metaverse. The company claimed this to be India's first virtual jewelry retail space within the metaverse, with a primary focus on engaging with the new generation of customers. The jewelry retailer, in an official statement, emphasized its commitment to delivering personalized and convenient shopping experiences to digitally adept millennials and Gen Z shoppers, who are widely regarded as the future of the retail industry. «We believe that the digitally savvy millennials and Gen Z shoppers are the future of retail, and we want to be at the forefront of providing them with the personalized and convenient shopping experiences they want and need,» said Suvankar Sen, MD & CEO of Senco.

Dealshare has laid off about 130 employees as it winds down its business-to-business (B2B) vertical and shifts its headquarters from Bengaluru to Gurgaon. The layoffs come roughly one-and-a-half months after Vineet Rao stepped down as Dealshare’s chief executive. The company had earlier decided to shift its headquarters North, which is where most of its business comes from.

The Australian Securities and Investments Commission (ASIC) alleged that Bit Trade, the provider of the Kraken crypto exchange to Australian customers, did not make a target market determination before offering its margin trading product to Australian customers. Design and distribution obligations (DDO) are legal requirements for firms that offer financial products in Australia, requiring products to be designed to meet the needs of customers and to be distributed in a targeted manner. ASIC noted that Bit Trade provides credit to buy and sell certain crypto assets on the Kraken exchange, and customers are able to receive an extension of credit of up to five times the value of the assets they used as collateral. The regulator claimed that, since DDO began in October 2021, at least 1,160 customers had used Bit Trade’s margin trading product, incurring a total loss of about A$12.95 million (£6.74 million). Despite being notified of the ASIC’s concerns in June 2022, the regulator alleged that Bit Trade has continued to offer the product without making the appropriate determinations.

This registration will allow eToro to offer regulated crypto services to all EU countries on a cross-border basis from one single entity, once the EU’s Markets in Crypto-Assets Regulation (MiCA) comes into effect.

Grip Invest founder Nikhil Aggarwal and former Cars24 India chief executive Kunal Mundra have joined hands to set up Electrifi Mobility, a full stack commercial electric vehicle (EV) solutions provider. The new entity offers planning, acquisition, asset selection, deployment, utilisation, maintenance, optimisation, renewal, decommissioning and disposal-related services. It partners with lenders, fleets and original equipment manufacturers to carry out these services.

Paytm, Acko, Swiggy and Mintifi, is increasing its focus on the sector." In an interview, Elevation Capital partner Mridul Arora spoke about his fintech portfolio and upcoming IPOs, besides sharing Elevation’s overall fintech investment strategy. Edited excerpts: We are kind of done for this year. As a focused investor, we do usually 2-3 investments across sectors in a year, but it’s not a hard cap.

digital currency (CBDC) also known as the 'Digital Rupee’. As of 30 June, more than a million users as well as 262,000 merchants had registered for the pilot on retail CBDC transactions. Industry experts termed CBDCs as transformative catalysts that will reshape financial inclusion, ensuring a safer and more affordable avenue for all individuals to engage in economic transactions.

«As far as the banking index is concerned that index is already at the support area of 45000 so on the closing basis something which we should look at because the kind of volatility that we have seen in the last few days it has been quite fast,» says Rahul Sharma, JM Financial Services.Just wanted to begin by discussing the market texture with you because after that 20200 level we have suddenly slipped down all the way to 19750, what do you make of this, is it just the weekly options expiry move or this was the consolidation that the markets needed?There are two sides to every market move, so the good side is the correction is happening fast. The bad side is the correction is pretty steep in terms of number of points but that is something that we can expect considering the way we moved from 19200 odd to 20200. Now the crux of the whole situation is the entire bullish setup should remain intact as long as we do not breach 19600 on a closing basis. So like you said it could be an expiry related over reaction on the downside but my sense is we should be looking at cherry-picking some of the stocks and sectors which standout in spite of the broader market fall.

Walmart Foundation, on Thursday, announced a grant of $2 million to Grameen Foundation for the launch of the latter's second phase of the Market Access eNabled by Digital Innovation in India (MANDI) project. MANDI-II will aim to address challenges faced by smallholder farmers, especially women, in Eastern Uttar Pradesh and West Bengal by building the capacities of Farmer Producer Organisations (FPOs).Julie Gehrki, Vice President, Chief Operating Officer, Walmart Foundation, said in a statement, “We are excited to collaborate with Grameen Foundation for the next phase of MANDI. “Through this project, we aim to provide farmers with the necessary tools, resources, and market access to improve their livelihoods and build sustainable futures for their communities.” During the first phase of the MANDI project, also supported by the Walmart Foundation, Grameen Foundation helped build the capacity of 40 FPOs in Eastern Uttar Pradesh by facilitating market linkages, providing access to finance, data and technology and notably increasing women shareholder participation. Over 8,300 women were added as new members to FPOs;18 out of 40 FPOs now have at least 40% women membership compared to the 12.5% at baseline.

«We are not close to signing anything at this point in time but there is an evaluation process underway at this point in time. We will probably have more updates once the quarter is over and we are able to share the results,» says Rajan Sethuraman, CEO, Latentview Analytics.Help us understand what are the demand trends that you are seeing across your segments, your technology, industrials as well as financials?On the demand front, we see that it is still a little slow, especially in the financial services sector and in retail. Industrials, there is a little bit of action.

Dhiraj Agarwal, MD, Ambit Investment Managers, says “high growth rate is a double-edged sword. When the growth rates are high, the PEs expand and hence the stock price compounds at double the speed as the earnings growth rate. But it works on the reverse as well. If the growth rate slows down, the PE contracts. So, we need to be very, very careful and selective and focus more on quality. ”After the recent run up and looking at the macros we are staring at, what is your house advice? What are you indicating to your clients?At this point of time, markets are in a zone where one needs to be very, very selective and very, very quality focused. I do not think it is a bubble yet. There is more headroom for the market to go up but it will not perhaps be as smooth and as easy as what we have seen in the last four or five months where almost anything and everything was flying. It is time to be a bit more selective because the valuations are high but it is not ridiculously high and hence caution is warranted at this point. Being selective is a good idea.

leadership-enablement initiatives. The yang exhorts HR managers to create tools and processes that can supply real-time data to support these performance dialogues. This includes accessing in-depth and updated data on performance, using performance comparison indicators such as historical figures, average numbers and market data, studying drivers of performance and analytics, and comparing rankings from similar functions.

New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues.

Amitabh Mohanty, MD and CEO of JM Financial Mutual Fund believes India is on a multi-decade growth path and the impact of global economic slowdown could be limited on the country. In an interview with Mint, Mohanty shared his views on markets, the economy and the sectors he finds promising. The process of investment remains the same for most investors. Disciplined asset allocation after proper analysis of risk appetite and time horizon of investment, could deliver results.

Garena Free Fire Max redeem codes can be used to win in-game items like weapons, diamonds, skins and more. These 12 digit alphanumeric codes consist of capital letters and numbers. For those unaware, Garena Free Fire Max is a revamped version of Garena Free Fire.

Today's Bitcoin price stands at $27,033, having experienced a trading volume of $13 billion over the past 24 hours. Bitcoin has witnessed a slight dip, declining around 0.50% during this timeframe. 

OpenAI in Manhattan federal court on behalf of prominent writers including John Grisham, Jonathan UFranzen, George Saunders, Jodi Picoult and «Game of Thrones» novelist George RR Martin, accusing the company of unlawfully training its popular artificial-intelligence based chatbot ChatGPT on their work. The proposed class-action lawsuit filed late on Tuesday by the Authors Guild joins several others from writers, source-code owners and visual artists against generative AI providers. In addition to Microsoft-backed OpenAI, similar lawsuits are pending against Meta Platforms and Stability AI over the data used to train their AI systems.

Mayur Milak, Senior Vice President — Auto & Aviation, Asian Markets Securities, says Akasa Ait has cancelled about 600 flights in August and are looking at another 600 cancellations in September. That does not ooze confidence in customers. From IndiGo's point of view, it is good. But this is not great for the industry overall. It needs to be rationalised pretty well going forward.Explain to us what happened at Akasa Air? Why did it happen and what is the possible options available for Akasa Air to go forward from here on?So, from what we hear from reports and from the CEO's message, clearly it seems that there is a pilot issue and this is definitely a big issue. At a time when you are at a fleet of 20 plus and you are looking to expand, if you do not have the necessary crew in place, it obviously creates a lot of havoc and which I think they have clearly mentioned in their petition that they have cancelled about 600 flights in August and are looking at another 600 cancellations in September. That does not ooze confidence in customers.

Nvidia Corp. Chief Executive Officer Jensen Huang visited four cities, dined with tech executives and researchers, took numerous selfies, and sat for a one-on-one conversation with Prime Minister Narendra Modi about the AI sector. Huang’s India itinerary was so crammed that he confessed to surviving entire work days on spicy masala omelets and cold coffees. Huang may have been treated like a head of state, but the trip’s purpose was all business. For Nvidia, whose graphics processors are vital to the development of artificial intelligence systems, the South Asian nation of 1.4 billion people presents a rare opportunity.

Bank of Baroda is one of the leading UPI remitter banks and the launch of our UPI LITE facility will further accelerate the adoption of UPI and help in promoting digital financial inclusion," said Joydeep Dutta Roy, Executive Director, Bank of Baroda. UPI LITE enables customers to seamlessly make multiple, small-value transactions instantly during peak hours. The maximum balance in the UPI LITE wallet at any point in time cannot exceed ₹2,000.

Most citizens in Western Russia say they do not want to get paid in digital rubles, dealing a further blow to the Central Bank’s CBDC plans.