Financial Financial News

In anticipation of International Women’s Day, IndiaLends, a prominent online marketplace for credit products, introduces the 6th edition of its annual #WorkingStree report. This year’s survey, centred on “Women Entrepreneurship and Investments", explores the aspirations and realities of working women in India. The report underscores a change in the priorities of working women in India. Let’s delve into the details:

Financial freedom is a long-drawn journey, often stretching decades. It is progressive and not a one-time event, which implies that the more process-oriented a person is regarding their income, expenses and savings, the more incrementally financially free they become over time. There is no magic wand or shortcut to creating wealth.

Tata Motors: On March 6, global rating agency, Moody's, confirmed the BA3 ratings of Tata Motors, maintaining a positive outlook, reported PTI. In addition, Moody's Investors Service stated that it has also confirmed the Ba3 senior unsecured instrument ratings of Tata Motors Ltd (TML). According to Moody's obligations, 'Ba' ratings are considered to have speculative elements and carry a significant credit risk.

LPL Financial has added another team to its sprawling platform. The firm announced Aero Capital, led by financial advisors Brice Lowe and Bradley Moser, as the latest practice to join its broker-dealer, RIA and custodial platforms, in alignment with Mariner Advisor Network, which supports advisors affiliated with LPL.

India has 87% fintech adoption rate – the highest in the world, 1.26 billion digital IDs, 658 million internet users, 30 million merchants who accept QR codes and the digital lending and insurance sectors are expected to grow to $350 billion and $222 billion respectively by 2025. (Barclays Rise Report) While women form 50% of the country’s population, financial and digital literacy of women is lowest, as per World Bank’s Global Findex Data.

IIFL Finance, JM Financial and even Paytm Payments Bank. The central bank on March 4 had imposed an embargo on IIFL Finance’s gold loan business and then on JM Financial Products’ loan against shares & IPO financing business the next day, citing persistent regulatory non-compliance and governance issues.

Federal Bank arm Fedbank Financial Services (FedFina) is currently trading below its IPO price of ₹140, three brokerages have initiated coverage on the NBFC stock with buy calls and sees an upside potential of up to 47 percent. Currently trading at ₹125, FedFina is down almost 11 percent from its issue price. The stock witnessed a weak debut and was listed on the bourses at ₹137.7 on November 30.

IRCTC, JM Financial, Zomato, Samvardhana Motherson among others will be in focus due to various news developments IRCTC IRCTC has signed an MoU with Swiggy to provide pre-ordered meals to passengers via IRCTC e-Catering Services. The services will be made available initially on Bengaluru, Vijayawada, Visakhapatnam & Bhubaneswar stations.

Chancellor Jeremy Hunt is reportedly lining up a set of pre-election giveaways on Wednesday (6 March), including cutting national insurance by 2p, and is expected to unveil proposals for a historic bond issuance, excluding Bank of England transactions, for the fiscal year beginning in April.  However, the Chancellor is also having to balance his tax cut ambitions with bond investor worries about the public finances. According to Reuters, prices of UK gilts have already fallen more than that of other countries, and there are substantial amounts of debt slated to enter the market. Fisca...

Housing is one of the basic needs and it is essential to keep your property in the right shape to increase its age. Often when the house becomes old, it needs repairs and sometimes you also need renovation to enhance the true value of your house. This is when the house renovation loan comes to your rescue.

Becoming self-employed can be an exciting journey, but it’s also possible to make expensive mistakes

Aston Villa insists the club is operating within the financial rules of the English Premier League despite reporting a loss of 119.6 million pounds in its latest accounts

Kerala Finance Minister K N Balagopal said that the financial disparities imposed by the BJP-led Union Government on Kerala go beyond politics, posing a significant challenge to cooperative federalism, and called on the Central government to ensure fair treatment for all states. «The BJP-led Union Government's financial discrimination against Kerala is not just a political slogan but a question of cooperative federalism, and it is the duty of the Central government to protect the interests of the states,» the minister told PTI in an interview on Monday night. Balagopal, who has been challenging the BJP-led Centre for its alleged discrimination against Kerala on financial matters for quite some time, said that the issue has now been raised by other non-BJP ruled states, including Congress-ruled Karnataka, as the states are feeling strangled by the Centre.

Tata Motors into two separate listed entities — CV and PV — will eventually lead to the exclusion of the smaller stock (commercial vehicles unit) from Sensex and Nifty just like what happened during the demerger of Jio Financial Services from Reliance Industries (RIL). «Tata Motors is currently a member in all passive indices. However, once the demerger is complete, with the smaller entity (CV business) becoming a standalone entity, it will exit Nifty50 and Sensex. We're looking at a wait of around 15 months or so for this to materialise,» Nuvama's Abhilash Pagaria said.

South Korean authorities are discussing the potential approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the country, as revealed by the country’s chief of the financial watchdog. 

CARS24's wholly-owned subsidiary, CARS 24 Financial Services, on Tuesday announced a strategic partnership with Credgenics to facilitate a digital-first approach in the business. The company said that the objective behind the move is to «streamline the car ownership experience for customers by introducing innovative solutions powered by cutting-edge technology, ensuring a hassle-free journey.» «Credgenic's SaaS based platform at CARS24 Financial Services provides data insights backed strategy recommendations, facilitates a digital-first approach and automates customer communications across multiple channels for collections. The integrated platform includes various modules that cover the end-to-end collections lifecycle and enables the team at CARS24 Financial Services to drive higher operational efficiency, provide personalized service to customers and scale operations rapidly at ease,» said the company in a release.

Stock Market News: Domestic benchmark equity indices, the Sensex and the Nifty 50, began Tuesday's trading day on a negative note. Benchmark equity indices were trending down. The BSE Sensex opened lower by 104.87 points or down 0.14% at 73,767.42 level while the Nifty 50 opened at 22,371.25 level, down 34.30 points or 0.15%.

New Binance CEO Richard Teng must appear before Nigeria’s House of Representatives Committee on Financial Crimes to answer questions about his company’s lax KYC and AML policies, which may have played a part in terrorism financing and money laundering.

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Taher Badshah, Chief Investment Officer at Invesco Mutual Fund believes it is going to be a period of low triggers in the market as there is not much in terms of actionable events to look forward to, except for policy rates at a global level, the monsoon development, and the election results from a domestic standpoint. In an interview with Mint, Badshah shared his views on markets and sectors he is positive about. Edited excerpts: We will be in the run-up to the elections in the coming weeks, but that too, at some level, has been taken into cognizance by the market.

Alfa-bank, one of Russia’s biggest financial institutions, has created a “digital financial asset” (DFA) backed by gold, stocks, and cash.