Economy Financial News

Banks wield immense power in the financial world, acting as modern-day gladiators in an arena where loans and deposits shape economies and personal lives. Gone are the days of dusty ledgers and long lines at teller windows. Today, the Indian banking industry is driven by innovation, adapting to serve a rapidly evolving population.

Sensex closed at 73,917 points, or 1.6% lower than the highest level since April, when the election started coming into focus. Now, the thing to remember is that the parts can behave differently from the whole. And that seems to be happening with the stock market as well.

Mutual fund advisors believe that 2024 is going to be the year of hybrid funds. Because of the uncertainties regarding the global economy and ever rising Indian stock market, advisors have been advising investors to move cautiously. In such a scenario they believe that investing in hybrid mutual funds — schemes that invest in equity and debt — may serve investors, especially new and inexperienced investors, better. Conservative hybrid mutual funds are the entry to the world of hybrid funds. These schemes invest mostly in debt and a small percent in equity. As per the Sebi norms, conservative hybrid schemes must invest 75-90% in debt instruments and 10-25% in stocks. These schemes are ideal for investors looking to invest a small part of their corpus in equity to earn some extra returns.

A local council in Germany has approved a plan by electric carmaker Tesla to expand the grounds of its first plant in Europe, a proposal which has drawn persistent protests this year

The Dow Jones Industrial Average finished a day above the 40,000 level for the first time as U.S. stock indexes drifted around their record heights to close their latest winning week

Asian stocks have advanced after U.S. stock indexes drifted near their records on Friday with the Dow Jones Industrial Average finishing above 40,000 for the first time

Numbers show that the economy during Donald Trump’s presidency has never lived up to his own hype

₹2.6 trillion in assets. In fact, he believes periodic corrections are healthy as they eliminate excesses, and create fresh investment opportunities. Moreover, Gupta noted that investors seem to favor equities, aiming to allocate a greater portion of their portfolios to stocks.

stock market has dissipated. In the past three weeks, India VIX, a widely tracked fear gauge measuring the expected volatility in the stock market, has shot up from 10.15 on 23 April to 20.6 on 13 May. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey? Election season casts clouds Elections introduce uncertainty in the stock market. This time, the market’s confidence, in what seemed like an inevitable outcome, is being tested. According to initial estimates, the first four phases of the marathon seven-phase Lok Sabha elections have recorded a lower voter turn than the corresponding period in the 2019 general elections. Low voter participation is being perceived as harmful to the reelection prospects of the Narendra Modi government. The concern is that voter disengagement could potentially weaken the ruling party’s numbers, undermining policy continuity and political stability, which the market favours. Volatility has shot up

conflicts, affecting 9.4 mn people and ₹3.11 tn investments. In this context, last week's Supreme Court judgment on land acquisition is significant.

Prime Minister Modi's 'Khata-khat' remark on INDIA bloc, Congress leader Rahul Gandhi said on Sunday that one woman from every poor family will get Rs 1 lakh per year which will be deposited into her bank account, 'Taka-tak, Taka-tak'. Addressing a joint rally with SP chief Akhilesh Yadav today, Rahul Gandhi said this election is the fight for the Constitution. "BJP-RSS are attacking this and I want to tell them that no power can tear apart the Constitution of Ambedkar and Mahatma Gandhi. Narendra Modi ji has made 22 people billionaires. All the benefits were given to these people only. But now we are going to make crores of people 'lakhpatis'. A list of all the poor in India will be made. 'Har gareeb parivar mein se ek mahila ko chunkar unke bank account mein 'taka-tak taka-tak' saal ke 1 lakh rupee daal diye jayenge. (One woman from every poor family will be selected and Rs 1 lakh per year will be deposited into her bank account)" Rahul said.

(Bloomberg) — Over the past few years, Vietnam’s anti-graft drive has taken down a slew of top Communist Party leaders, including presidents, deputy prime ministers and Politburo members. But that hasn’t stopped foreign investors from pouring in cash. 

(Bloomberg) — This is the first story in a Bloomberg Green series breaking down the Hydrogen Hype.

From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.

₹24,541 crore in January-March, against ₹23,905 crore in the same period of FY23. The company’s consolidated Ebitda, or earnings before interest, tax, depreciation, and amortization, dropped 15% sequentially to ₹6,124 crore. Its operating margin stood at 13.2% during the quarter.

Ladakh Lok Sabha constituency, the Congress on Sunday alleged that over the last 10 years, the union territory has been at the receiving end of the Modi government's «malicious and step-motherly treatment». Congress general secretary Jairam Ramesh said Ladakhis have been protesting in freezing temperatures over the lack of control over their land and water. «The protests have been ongoing for months, including all 8 tribes and over 30,000 people, coming together for hunger strikes and huge marches,» he said. The Modi government's only response has been continued silence and apathy, Ramesh claimed.

economic growth. The People's Bank of China has announced that it would establish a 300-billion-yuan (about USD 42.25 billion) relending facility for the government-subsidized housing project. Local state-owned enterprises are encouraged to use the funds to buy reasonably-priced commercial homes that have completed construction, Tao Ling, deputy governor of the People's Bank of China, told the media last week. Tao added that these homes will then be used to provide affordable housing.

‘What Should I Do With My Money?’ author Bryan Kuderna shares how consumers can avoid falling for ‘spaving’ traps and stay in control of their finances.

₹1,959 crore was paid as visa fees for the 1.4 million US visitor and work visas processed across consulates in India in 2023. Additionally, the average waiting time for visitor visa appointments was 250 days. Passport strength is closely connected to the business environment, especially for the high-ranked countries.

Labour secretary Sumita Dawra Saturday said that most states have brought out draft rules under the new labour codes, ensuring there is harmonisation of standards for the industry to move from one state to another. She said the labor reforms have been put in place with an eye on ease of doing business, simplification, and reduction in compliance burden, decriminalization and seamless dispute resolution, promotion of labor market flexibility at the same time in harnessing female participation, leveraging technologies, and meeting the scale needs of the economy, whether at the national or international level. On employment opportunities, Dawra said:

India's structural reforms, Amitabh Kant, India’s G20 Sherpa and former Niti Aayog chief, said such reforms have moved the country from the fragile 5 to the top 5, leading to a growth rate of about 8.4% in the last 3 quarters. «Analysts are correct in saying that 30% of the global GDP growth will come from India between 2035-2040,» said Kant while addressing the CII Annual Business Summit 2024. Kant urged India Inc to work with the states to accelerate their development. He added that the government needs to collaborate with the states as we need to focus on building 12-13 champion states growing at 10-11% per annum.