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finance, a significant player often operates discreetly yet profoundly impacts our economy — Non-Banking Financial Companies (NBFCs). Unlike traditional banks, NBFCs hold no banking license, yet their role is far from inconsequential. Regulated by the RBI, these financial entities are distinguished by several key characteristics that set them apart from their banking counterparts.A closer look at distinctive features of NBFCs The very essence of an NBFC lies in its limitations, which paradoxically grant it a unique edge.

Reliance Industries: Viacom18 Media Pvt. Ltd, a unit of Reliance Industries Ltd (RIL), secured the media rights for all bilateral cricket matches to be played in India during the next five years for ₹5,963 crore through the e-auction conducted by the Board of Control for Cricket in India (BCCI) on Thursday. The RIL-run broadcaster outbid Sony Pictures Networks India across digital and television, while the third bidder, Disney Star, placed just a couple of bids, according to two people familiar with the development.

Federal Reserve Chair Jerome Powell has his data. Financial advisors have theirs.

Reliance Industries Ltd. “Asia Index Private Ltd recently announced that effective prior to the open of trading on Friday, September 01, 2023 , Jio Financial Services will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries," said the notice on BSE. The JFSL stock did not hit the lower circuit in the previous two trading sessions, and today's session saw the Jio Financial Services share price conclude 0.41% higher at ₹233.65 apiece on BSE.

financial markets since 2010. It was founded by a team of passionate analysts, financiers and active traders who wanted to share their experience and knowledge with others. The company does not stand still and is working to expand the quality of services, and the choice of available materials.

Jio Financial Services stock is likely to get excluded from the S&P BSE Sensex from today unless it hits the 5% lower circuit according to estimates from Nuvama. The stock, which hit yet another 5% upper circuit on multiple block deals in the opening trade, had ended with 5% gains in previous two trading sessions. The upper circuit is unlikely to have any impact on its exclusion from Sensex, the Nuvama report said. The day's high for Jio Financial shares stood at Rs 242.80 on the NSE and the stock witnessed strong volume action with 1.24 crore shares trading on the NSE after the block deal news was reported by ETNow. As per the Nuvama report, JIO’s 1.1% weight in Sensex 30 Index means passive selling may involve around 60 million shares, equivalent to roughly $180 million. Any decision on the deferment of exclusion will likely be announced by the BSE during market hours. As far as the Nifty indices are concerned, Nuvama does not see Jio getting deleted until «two consecutive days of the spun-off entity avoiding the price band (upper or lower)». Explaining it further, the brokerage said that no price band hit — upper or lower on Thursday and Friday will lead to exclusion on Monday September 4.

Blockchain tech company Paxos published a blog post on Tuesday illustrating how Web3 can empower enterprises in the financial sector, and kickstart a “new era” of digital sovereignty.

Geojit Financial Services said, "Positive sentiment initially propelled domestic equities, buoyed by softer US labour market data that caused a retreat in US bond yields, alleviating concerns about rate hikes. This positive outlook was reinforced by Chinese banks' move to reduce existing mortgage rates, favourably impacting Indian metal stocks.'' ‘’However, gains were tempered as the day progressed, primarily due to weakness in global markets attributed to lacklustre economic data from Europe.

Reliance Industries chairman Mukesh Ambani made many announcements at the company’s 46th announcement on Monday. One of them being that the conglomerate's financial services division Jio Financial Services (JFS) is keen to introduce blockchain-related products as well as digital rupee. «JFS products will not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times,» Ambani told shareholders at the company's AGM.Blockchain rose to prominence as the underlying technology for Bitcoin. Blockchain solutions is a distributed database that maintains a continuously growing list of ordered records called blocks and is deemed to be very transparent as all the stakeholders can view progress in real-time. Distributed ledger technologies (DLTs) allow the recording, sharing and transfer of data or value without the need for a central record keeping as in the case of a traditional ledger. Such records are immutable and non-repudiable. «Jio Financial Services is uniquely positioned to disrupt India's financial sector. By leveraging open-source blockchain technology, JFS can build apps and smart contracts on top of India's Aadhaar stack. This opens up a host of opportunities, from microfinance to SME lending to serve a diverse range of financial needs,» said Rajagopal Menon, Vice-President at WazirX.

In India, the life insurance industry is rapidly growing, and in 2027, it aims to reach INR 14.5 trillion. This growth is driven by a number of factors, including increasing awareness of the importance of financial planning, rising disposable incomes, and the growing popularity of digital channels.

The substantial impact of achieving financial independence on personal economic well-being is exerting a profound influence on India’s economy. As a rapidly developing nation with a burgeoning middle class, nurturing financial independence among its citizens is anticipated to play a pivotal role in fostering sustainable economic progress.

The board expects it will be able to reimburse clients’ shares on or around 12 September, according t the liquidation documents.

HDFC Bank with a target price of Rs 1755. The current market price of HDFC Bank is Rs 1592.5 JM Financial recommended to keep stop loss at Rs 1505. HDFC Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 1200357.94 Crore). HDFC Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 61021.29 Crore, up 6.76 % from last quarter Total Income of Rs 57158.84 Crore and up 38.05 % from last year same quarter Total Income of Rs 44202.32 Crore.

₹232.70 apiece on the BSE. On NSE, JFSL shares were also at 5% upper circuit limit at ₹231.25 apiece, becoming the top Nifty gainer. According to ET Now report, promoter entity Jamnagar Utilities and Power, a step-down unit of Reliance Industries (RIL), likely bought about 5 crore Jio Financial Services shares at ₹208-211 apiece.

Jio Financial Services hit the 5% upper circuit on Wednesday following a likely block deal in pre-market trade wherein 12.7 lakh shares of the company changed hands. The development invited a strong investor response with over 1.58 crore shares trading on the NSE in the opening trade. The block deal reported by ET NOW is the second in a row and follows a deal on Tuesday which saw 0.8% equity changing hands.

Zomato, CLSA maintained an underperform rating on UltraTech Cements, Motilal Oswal has a buy on M&M Financial Services and Prabhudas Lilladher recommends a buy on Navneet Education.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: HSBC on Zomato: Buy| Target Rs 120 HSBC maintained a buy rating on Zomato but raised the target price to Rs 120 from Rs 102 earlier. A deep dive into hyperlocal further raises our conviction on the long-term value of Blinkit, said the HSBC note. The value for Blinkit is now at $5 billion. In the next 3-4 years, HSBC believes that Blinkit can achieve 6-7% contribution margin (CM) and 3-4% EBITDA margin. Hyperlocal could be a much bigger business for Zomato in the long term.CLSA on UltraTech Cements: Underperform| Target Rs 8400 CLSA maintained an underperform rating on UltraTech Cements but raised the target price to Rs 8400 from Rs 7900 earlier. The global investment bank expects the company to report industry-leading growth and profitability.

A trio of researchers from the University of Cincinnati recently developed a crypto literacy scale (CLS) to help standardize and measure economic and financial knowledge as it relates to consumer and policymaker understanding of cryptocurrencies and related technology.

Ujjwala scheme subscribers already get Rs 200 subsidy on cooking gas cylinders, while the reduction of Rs 200 in prices of LPG cylinders announced on Tuesday will be on top of that, Information and Broadcasting Minister Anurag Thakur told mediapersons after the Union Cabinet meeting. The additional subsidy on LPG cylinders will come into effect immediately as a 'Raksha Bandhan' and 'Onam' gift, and will cost the exchequer Rs 7,680 crore, the minister added. The decision came months before the Assembly elections scheduled in four states, and the Lok Sabha elections due next year.

Nifty settled higher on Tuesday, August 29, for the second consecutive session supported by gains in the shares of select heavyweights, including HDFC Bank, Larsen and Toubro and Tata Steel amid positive global cues. Sensex ended with a gain of 79 points, or 0.12 per cent, at 65,075.82.

Reliance Industries chairman Mukesh Ambani on Monday announced that the conglomerate's financial services division Jio Financial Services may also start offering blockchain-related products as well as digital rupee. «JFS products will not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC. They will adhere to the highest standards of security, regulatory norms and ensure protection of customer transaction data at all times,» Ambani told shareholders at the company's AGM. The RBI has devised the central bank digital currency (CBDC) known as e-rupee as a digital alternative to physical cash — using blockchain distributed-ledger technology.