Digital Financial News

Canara Bank announced the launch of its UPI Interoperable Digital Rupee mobile application that allows users to pay with digital currency by scanning any merchant's UPI QR code. This move is a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project. «With the introduction of this feature, customers will be able to scan merchant UPI QR codes using the app and make the payment through digital currency. Further, this feature empowers the merchants to accept digital currency payments using their existing UPI QR codes in addition to the UPI based payments without the requirements of a separate on boarding process for CBDC,» the company said in a release. Features of the app:

Cosmofeed said it has launched a unified operating system to help about 80 million creators in the country monetise their content across social media platforms. The community dashboard supports creators in streamlining utilities, managing content and using analytics to make decisions that boost earnings. It also eliminates the need for creators to juggle multiple tools for insights, audience communication and community management. «Our mission goes beyond individual features; it's about revolutionising how creators manage and thrive in their digital spaces.

Icra Ratings which released a report on Tuesday said that India's economic growth will accelerate to 8.5% in the April-June period of the current fiscal from the 6.1% growth rate witnessed in the preceding January-March quarter. Icra attributed the faster growth to a supportive base and also a recovery in the services sector.

Ashi Anand, CIO, IME-branded strategies, Valcreate Investment, says the ability of the new age platform companies to continue to compound revenues at over 25% from a longer-term perspective is very clearly there. The misunderstanding in terms of the listed market space is with relation to the longer-term profitability of these companies. What people do not necessarily understand is the sheer quantum of the current expenses are short-term in nature as these expenses are primarily linked to the current hyper growth phases that these companies are on.”Let’s start with your market construct. What is your view and where do you think we are headed in the near term?We have had a fairly strong move in the market over the last few months.

Cutting-edge water heaters by Havells are the optimal solution for all your everyday requirements, as they come with a variety of trademark features such as high-quality heating elements, a sturdy body, and an understated appearance. Check out our picks for the best Havells geysers in India.

Thailand authorities have issued a warning to the social media giant Facebook, threatening to seek a criminal court order to sever its operations in the nation, over the rampant investment and cryptocurrency scam ads.

Max Healthcare Institute, Cholamandalam Investment and Finance Company, Bajaj Finserv, and Siemens showcased their strength and growth potential in various sectors. Let's explore the performance of these stocks. (Data Source: StockEdge)1. Max Healthcare InstituteMax Healthcare Institute showcased impressive growth by surpassing its 100-day SMA and closing at Rs 551 on August 21.2. Cholamandalam Investment and FinanceCholamandalam Investment and Finance marked a significant achievement by exceeding its 100-day SMA and closing at Rs 1044.85 on August 21.

Quant Mutual Fund has launched Quant Teck Fund, an open-ended equity scheme investing in technology-centric companies. The new fund offer or NFO of the scheme is open for subscription and it will close on September 5. The performance of the scheme will be benchmarked against S&P BSE TECk TRI. Sandeep Tandon, Ankit Pande, Sanjeev Sharma, and Vasav Sahgal will manage the scheme.

The Kenyan government has formed a 15-member parliamentary committee to investigate the contentious Worldcoin project.

Data Observatory today. The survey found more the majority of Indian small businesses plan to implement marketing activities for their website, including advertising on social media platforms (77%), creating a responsive design for their website (70%), positioning the company better on search engines (70%), and monitoring the traffic of their pages (68%). GoDaddy’s Data Observatory finds 48% of small businesses in India, who currently do not have a business website, plan to build one within the next three months and 43% plan to do it in the next year. This underscores the continued importance of social media and creating a holistic digital marketing strategy.

«So as far as Karnataka Bank is concerned there was a conscious call made in a couple of quarters before that some of this high cost deposits as well as some not so good yielding loans were retired and this was a very conscious call whereby we actually calibrated this a little bit,» says Srikrishnan H, Karnataka Bank.Your loan growth this quarter has been relatively slower than the overall banking sector credit growth which you have observed. Talk to us about what has been the reason behind this slower growth and is it a conscious calibration which you are undertaking and it is likely to reverse going forward?So as far as Karnataka Bank is concerned there was a conscious call made in a couple of quarters before that some of this high cost deposits as well as some not so good yielding loans were retired and this was a very conscious call whereby we actually calibrated this a little bit. But the following two quarters which is the last quarter Q1 FY24 and the next quarter which is currently underway in both on an annualised basis we have hit a target growth of 10% and that is something which has been the guidance given to the stakeholders. Also so it is not as if we are really under but we will pick up soon because there are two three engines that are going to be firing because one is the branch engine, the second is a sales engine that we are wrapping around all of our branches with DSAs and sales staff and that would be particularly aimed at gold loan, agri as well as personal loans. And the third one is a digital part so we have digitised at least about 30 to 40 customer journeys and that in fact the flagship product, the hero product there, is our consumer loan journey, where it is near 100% digital.

Mega 157 broke on Chiranjeevi's birthday. The official announcement arrived through a striking poster shared by UV Creations, the production house behind the venture. With this film, expectations are sky-high, considering it's touted to be the most lavish project in Chiranjeevi's illustrious career.

retail, telecom, among others, strengthened their hiring drives to meet the increase in consumer demand during the upcoming festive season, according to the latest data from leading business services provider Quess. About 32,000 jobs were posted in this period considering the BFSI, retail, and telecom sectors, the data showed. Job roles such as production trainee, branch relationship executive, collection officer, business development executive, broadband sales executive, sales executive, warehouse associate, and customer relationship officer have seen an increase in demand this season. “Despite inflation and profitability pressures, segments such as manufacturing, BFSI, and retail have reflected remarkable growth,” said Lohit Bhatia, President- Workforce Management, Quess. “As many as 32,000 jobs were posted in this period, and we expect this trend to magnify each month by at least 5,000 as we inch closer to peak festivities, especially across industries impacted by direct consumers such as e-commerce, logistics and automobiles,” he added. The manufacturing & industrial segment has noted a 245% growth in demand for professionals over the period April-Aug 2023 (as compared to April-Aug 2022). The automobile manufacturing sector is witnessing an uptick in recruitment, especially in the context of EV manufacturing to meet the consumer demand expected due to the Diwali festivities. The BFSI industry noted a 27% increase in demand for manpower ahead of the festivities, followed by telecom (14%). Telecom has undergone massive digitization efforts with the launch of 5G which has led to considerable job creation in the industry.

Rakesh Sharma, Executive Director, Bajaj Auto, says “the export opportunity is just unfolding. We are far from seeing it getting exhausted. The scope for two-wheelers in parts of Latin America and Africa is enormous. But participating in international business is not for the faint hearted. It is not for the trader. This is for the manufacturer. This is for people who have a genuine commitment to global play. That is what Bajaj is all about. I would say the emerging markets story is far from exhausted. It holds a lot of potential still, and we are very optimistic about it. But we do not think it is going to play out very rapidly.”We have always looked at Pune as the go-to city as a manufacturing space, especially for auto. What is so special about Pune that makes it perhaps the Detroit of India?Pune is quite a delightful city.

In the ever-evolving landscape of cryptocurrency, the price of Bitcoin price currently hovers at $26,051, experiencing a marginal decrease of 0.25% on Tuesday.

The Russian Central Bank says it plans to begin classifying the digital ruble, the nation’s CBDC, as a “high-quality liquid asset” (HQLA), and will likely eventually oblige banks in the country to follow suit.

Reliance Industries (RIL) traded volatile in the morning trade on BSE on Tuesday, August 22 as investors fix their eyes on the company's 46th Annual General Meeting (AGM) on Monday, August 28 at 2:00 pm. The stock opened flat at ₹2,518.25 and dipped nearly by a per cent before reversing losses and rising 0.8 per cent in early trade. Around 10:40 am, the stock was up 0.33 per cent at ₹2,526.60 on BSE.

The Economist has examined the age of each firm, taking into account the mergers and spin-offs that paint an artificially youthful picture of the group. We found that only 52 of the 500 were born after 1990, our yardstick for the internet era. That includes Alphabet, Amazon and Meta, but misses Apple and Microsoft, middle-aged tech titans.

Ita Buttrose has told the government she will not seek a second term as chairwoman of the influential ABC board, and plans to step down when her term expires in March next year.