Digital Financial News

Reliance Industries, about 60% of the Rs 1.6 lakh crore-market capitalisation of Jio Financial Services or JFSL is nothing but a result of its 6.1% stake in parent entity RIL. As part of the demerger, JFSL has received 413 million treasury shares or 6.1% of the total share capital of RIL. At the current market price, the value of these shares is about Rs 1 lakh crore. JFSL can either sell these shares in a staggered manner or simply hold on to them.

US Federal Reserve has been raising rates since March 2022, lifting the Federal Funds Rate to a 22-year high. However, this has not cooled the US economy down significantly. Most economists believe the US economy will not see a recession in the near future.

The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution License (MPI) to the popular cryptocurrency exchange Blockchain.com. With this license, the platform will be able to provide digital payment token services to institutional and accredited investors. On August 7, 2023, it was disclosed that the application had been approved, and on August 1, 2023, the license was issued.

crypto investors with Bitcoin seeing its most significant weekly drop since the November 2022 FTX crash. In the past week, Bitcoin declined 11.5%, hitting $26,023.33 according to Coingecko's data at 5.30 PM on Monday. Similarly, significant alternative cryptocurrencies like Ethereum fell 9.7%, Ripple's lost 16.9%, Solana crashed 13.3%, and memecoins such as Dogecoin and Shiba Inu declined by nearly 16%. The broader market was already in a bear phase, but Bitcoin faced an 8% plunge on August 18 as Elon Musk's SpaceX reportedly divested its Bitcoin holdings, akin to Tesla. SpaceX had accumulated $373 million in Bitcoin during 2021-2022. “Bitcoin’s fall below $26000 last week was the biggest decline for BTC in almost over a year,” said Siddhartha Gupta, SVP, Business and Strategic Alliances, CoinDCX. Simultaneously, investor concerns were heightened by the Federal Reserve's July minutes suggesting possible interest rate hikes.

The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a regulated  digital asset trading platform owner, announced on August 9, 2023, its intention to renew its normal course issuer bid (NCIB) program to repurchase common shares of the company. Alongside this, INX's subsidiary, INX Limited, intends to renew its INX Token repurchase program.

Stock and crypto trading platform eToro listed Bitcoin (BTC) on its exchange in December 2013. Two months later, the asset’s price plummeted from $1200 to $150 after the fall of Mt. Gox, the world’s largest Bitcoin exchange at the time.

Telecom sector revenue won't grow beyond high-single digits in the coming quarters without a tariff hike, though the presence of 207 million 2G users will continue to drive upgrades and support average revenue per user (ARPU) growth for India's top two telcos in the medium term, say analysts. However, they expect 5G capex spends to decelerate from FY25 onwards, which would pave the way for free cash flow (FCF) generation for the country's private carriers after a 13-year gap, which would be a big catalyst for re-rating, going forward. «Revenue growth for the sector remains in high single-digits and needs a tariff hike for improvement, but lower network costs could offset margin impact of higher sales & marketing costs,» Jefferies said.

NEW DELHI : The Union government is likely to press ahead with legislative reforms in the winter session of Parliament, targeting changes to the Insolvency and Bankruptcy Code (IBC) and the Companies Act on which substantial groundwork has already been done, a person familiar with the development said. Separately, an expert committee of the ministry of corporate affairs (MCA) is set to finalize its recommendations for a digital competition law, after which it will be circulated for inter-ministerial discussions and then for consideration by the Union cabinet, the person, who spoke on condition of anonymity, said.

NEW DELHI : India is confident of achieving closure on key issues ahead of the upcoming G20 Leaders’ Summit in New Delhi from 9 September. In an interview, Amitabh Kant, India’s G20 sherpa, spoke about the progress that India has made in its discussions around pushing for a higher quantum of climate financing around the world and how this can contribute to the better achievement of sustainable development goals. Kant also spoke about the role India’s digital public infrastructure (DPI) can play in building a better global financial institution and how India’s recent trade restrictions align with other major economies globally.

₹2-3 per unit, they said it was not expensive anymore. Then there was a problem of intermittency. Then, the projects now are doing wind, solar, battery storage, and hybrid altogether to do maybe a peak power project, or an RTC project, or what I would like to call a high CUF (capacity utilization factor) project.

₹5 crore for the first two quarters, and thereafter, for an amount equivalent to LF for two quarters and other dues not otherwise securitized. The recommendations state that Gross Revenue (GR) shall comprise revenue accruing to the licensed entity by way of all operations or activities and inclusive of all other revenue or income on account of interest, dividend, rent, profit on sale of fixed assets, miscellaneous income and so on without any set-off for related items of expense.

“Desh Kya Chahta hai aur Bharat ka Bharosa kin par Hai!" India’s leading consumer data intelligence company, Axis My India, today announced that it is building a one-of-a-kind platform leveraging Google technology that aims to bring about a step change in people’s awareness, accessibility, and utilization of a slew of services. These include Government social welfare schemes, basic day-to-day amenities, employment opportunities, and healthcare benefits, and has the potential to benefit up to 250 million Indian households across the country.Built on Google Cloud’s scalable and secure infrastructure, Axis My India’s People Empowerment Platform (PEP) application will use Google Cloud’s generative AI (GenAI) technology to provide relevant information about government schemes and desired communication/content to citizens based on their individual and family needs.

The chief executive of Australia’s largest out-of-home media company, ASX-listed oOh!media, says the decline of free-to-air TV can boost the billboard and digital screen advertising market by $500 million.

Here we are presenting the 10 most reliable crypto projects in India currently, according to their ranking: 1. Trillioner Coin (TLC) 2. Bybit India 3.

The Winklevoss twins' crypto exchange Gemini has filed a response to the US Securities and Exchange Commission (SEC) lawsuit, seeking the dismissal of allegations over unregistered securities.

social media, OTT platforms, and online gaming, according to a recent study conducted on the digital media consumption habits of Indians. As per a TOI report, the study — titled 'New age digital media consumption- was conducted by an IIM Ahmedabad professor in collaboration with a think tank. The research surveyed 2,000 respondents across 10 Indian cities and analyzed app data from over 20.58 lakh users.

Delinquency rates for India’s digital lending industry fell 50 basis points to 4.2% in FY23, according to a report by Fintech Association For Consumer Empowerment (FACE) and credit rating agency Equifax. For the digital lending industry, which came under pressure during Covid-19, FY21 and FY22 were tough years as several large credit fintechs had to provision for bad loans due to rising delinquency rates, thus accumulating losses, the report said.

CFOs should prioritize learning Machine Learning and AI due to their transformative potential. These technologies enable data-driven insights for financial decision-making, enhancing accuracy and forecasting precision. CFOs can identify cost-saving opportunities, optimize resource allocation, and mitigate financial risks more effectively. Machine Learning aids in fraud detection and prevention, ensuring fiscal integrity. Understanding AI algorithms enhances strategic planning, aiding in revenue growth and operational efficiency. Embracing these technologies equips CFOs to navigate the digital age, delivering value through advanced analytics, improved financial modelling, and agile adaptability to evolving market dynamics. Learning Machine Learning and AI empowers CFOs to drive innovation, elevate financial strategies, and secure sustainable organizational success. Who is CFO?? A top executive in charge of overseeing a company's financial operations is referred to as the chief financial officer (CFO). The chief financial officer's responsibilities include monitoring cash flow, budgeting the company's finances, identifying its financial strengths and shortcomings, and making recommendations for improvement. Because they are in charge of overseeing the accounting and finance departments and making sure that the company's financial reports are accurate and finished on time, a CFO's job is comparable to that of a controller or treasurer. Explore ISB Chief Digital Officer Roles of CFO The top five

Health Care – India 2023; WHO Traditional Medicine Global Summit; India MedTech Expo 2023; and ‘Sustain, Accelerate and Innovate to End TB in South-East Asia Region’ Conference. Mint takes a look at the event and its impact on India's delivery of public healthcare going ahead.

The BTC/USD is currently experiencing a decline of 0.25%, with its trading price at $26,025. Amidst the backdrop of dollar instability, there arise significant challenges to the ongoing efforts of de-dollarization, ultimately posing potential ramifications for Bitcoin's prices. 

TVS Apache RTR 310 is generating significant interest in the Indian motorcycle market. It's scheduled for a global debut in Thailand on September 6, 2023.