Inclusion Financial News

Kotak Mahindra Bank Ltd. expects the addition of the country’s sovereign bonds to JPMorgan Chase & Co.’s global indexes from June to boost banks’ liquidity and reduce the need to aggressively pursue deposits in the short term. The anticipated entry of overseas funds into India’s $1.2 trillion government debt market presents an opportunity for lenders including Kotak to sell part of their bond investments to these new buyers, according to Joint Managing Director K.V.S Manian. The move is expected to unlock funds for lending purposes and ease the pressure on banks that have been relying on costly deposits to disburse loans, Manian said in an interview. Kotak holds securities well in excess of the minimum statutory liquidity ratio mandated by the Reserve Bank of India, he said. Banks in India are the largest holders of government bonds.

Modern Wealth Management has hired a 20-year industry veteran with experience of building out two nationwide wealth management firms to drive its growth initiatives.

AI fashion modeling is on the rise but its use has complicated implications for diversity

Imphal Ring Road project is gearing up to introduce a fleet of women-operated e-buses and e-rickshaws. Spearheaded by Yumnam Joykumar Singh, Project Director cum Chief Engineer of Externally Added Projects (EAP) at the Public Works Department (PWD) in Manipur, this initiative aims to tackle the persistent traffic congestion plaguing Imphal City. With construction set to commence next month and completion targeted within 28 months, the project is poised to transform transportation dynamics in the state.

Another major concern is the surcharged geopolitical situation in the Middle East with heightened tensions between Iran and Israel. These will keep the markets on tenterhooks in the near-term, he added.

Prime Minister Narendra Modi, India’s stocks have commanded an unprecedented premium to emerging-market peers. As he seeks a third successive term, investors are betting that the performance can continue. Modi is likely to spend heavily on manufacturing and infrastructure should he win, continuing a strategy that wooed money managers during his decade in power. The stock market has rallied to successive records, while India’s imminent inclusion in a major global bond index is expected to lure billions of dollars in inflows.

«Individuals earning higher income are charged an additional charge above tax which is known as a surcharge. It's worth noting that in Budget 2023, the highest surcharge rate of 37% was reduced to 25% under the new tax regime, effective from 1st April 2023. This move brought down the effective tax rate from 42.74% to 39%,» says Abhishek Soni, co-founder, Tax2Win, a tax filing assistance company.

Fintech is reshaping monetary interactions, and as India progresses towards a cashless society, it assumes a pivotal role, driving financial inclusion and enabling millions to transition to the formal financial sphere. This surge in fintech adoption has positioned India as a global fintech frontrunner. Its innovative solutions attract global investors, and position the country as a trailblazer in establishing a robust digital public infrastructure (DPI) ecosystem, a pivotal factor in enhancing financial inclusion. The dynamic DPI framework, strengthened by fintech advancements, is projected to inject a windfall of $400 bn into the economy in seven years. With an impressive 87% fintech adoption rate, India ranks No. 1, shattering global averages and bringing financial services to unbanked populations. However, it's important to remember that unchecked growth can be risky. Data breaches and unfair lending practices can undermine consumer trust and financial stability.

tech companies in the US added an estimated 6,000 workers last month. Indian IT giants have established a robust presence in the US, with Tata Consultancy Services (TCS) employing 50,000 people, Infosys 35,000, HCL Technologies 24,000, Wipro 20,000, and LTI Mindtree 6,500. Together, these companies contribute around 2% to the US tech industry workforce, as per an HDFC Securities report. The widespread presence of these firms across various US locations positions them advantageously for the ongoing demand recovery. The surge in job growth has been primarily driven by hiring in technology services, software development, and cloud infrastructure. In March, US employers posted 191,000 new job openings for tech positions, marking an increase of 8,000 from the previous month and the highest volume since August 2023.

New Delhi: India can maintain a consistent 8-9% GDP growth in the coming years, and even reach double-digit annual growth between FY29 and FY31 fuelled by government spending on infrastructure, and private investment, which is expected to increase significantly in the coming years, industry body Confederation of Indian Industry's (CII) President R Dinesh said. Big-ticket land and labour reforms, as well as higher spending on health and education, apart from keeping its focus on inclusive growth in the medium to long term will also propel India as one of the fastest-growing major economies, registering a consistent high growth, Dinesh said in an interview. "We believe that the economy will register over 7.5% growth in FY25.

Lok Sabha elections, Mahe district in Puducherry will set a unique example of a gender-inclusive electoral process. All 31 polling stations in the district will be staffed by women polling officers. The voting for the union territory of Puducherry will be held on April 19. «Women at the forefront of Democracy: All 31 Polling Stations of Mahe district in Puducherry will be staffed by Women Polling Officials in the ongoing Lok Sabha Elections 2024,» the ECI stated in a post on Instagram.

Russian businessmen Mikhail Fridman and Petr Aven won a court case Wednesday over a European Union decision to sanction them for their alleged role in Russia’s war against Ukraine

Mint. According to the order, Emami has been able to make out a strong prima facie case on merits insofar as the matter of passing-off is concerned.

UPI users will now be able to use their wallet money to pay through any other third-party applications. So, what changes? Now if you have money in your PhonePe UPI, to access any of your online wallet, say Paytm wallet. To understand the new rule better, let's understand what the Prepaid Payment Instruments are? The Prepaid Payment Instruments or the PPI are financial tools allowing users to store value and make cashless transactions.

European Union Court of Justice ruled on Wednesday to remove Russian billionaires Mikhail Fridman and Petr Aven from a list of individuals facing European Union sanctions after Russia's attack on Ukraine in 2022. «The General Court considers that none of the reasons set out in the initial acts is sufficiently substantiated and that the inclusion of Mr Aven and Mr Fridman on the lists at issue was therefore not justified,» the Luxembourg-based court said in a statement.

PB Fintech jumped over 7% to hit a fresh 52-week high at Rs 1,400 in Wednesday's trade on BSE after the company announced a partnership with ICICI Lombard to provide insurance solutions to 1 crore customers. «The collaboration encompasses access to nearly 10 million customers with a wide range of insurance products, including motor insurance, health insurance, travel insurance, home insurance, and business insurance. The partnership entails inclusion across multiple business lines of the Policybazaar platform, policybazaar.com catering to retail audiences, PB for Business for corporates, and PB Partners for channel partners,» ICICI Lombard said in an exchange filing.

While speaking to the design team at Flipspaces, we uncovered the secret sauce behind the awe-inspiring designs that we see. The journey started with an immersive engagement with the BFIL team, where Flipspaces conducted extensive focus group discussions to grasp the diverse aspirations across multiple stakeholders. This research-driven approach served as the cornerstone for coming up with the winning formula of a vibrant, biophilic, and rural-themed design. These three themes are beautifully complimented in every nook of the office across meeting rooms, reception, workstation bays and breakouts. The moment you enter the office you will be welcomed by rural-themed murals representing various facets of rural India, empowerment of which is the vision of the BFIL brand. The meeting rooms depict art and culture of various states where BFIL is present, through interesting wall graphics and artefacts. Biophilia is a common thread in high-density zones such as workstation areas, where the natural greens give a soothing effect to the eyes. Across the office, we see colour-blocking at its best through vibrant hues to break the monotony.

NDTV has reported. Though the official names are yet to be out, here is the list of some probable players who can be included in the 15-member squad.

RBI) decision to revert to the multiple price method for auctions of sovereign bonds after three years signals confidence on the part of the Centre and its debt manager about New Delhi's fiscal management, with the first such debt sale validating that trust. The multiple price auction method was suspended by the RBI for most debt auctions in July 2021 amid severe market volatility due to sharp increases in government borrowing during the COVID crisis. While the method encourages deeper price discovery for bonds, it can result in higher cost of borrowing for the issuer — the government in this case — when market conditions are adverse.

The World Inequality Lab (WIL) recently published a report, Income and Wealth Inequality in India 1922-2023: Rise of the Billionaire Raj. The subtitle is a nod to the name of a 2018 book by James Crabtree, then a Financial Times correspondent and considered an avid India watcher. The book described itself as a journey through India’s new gilded age and had the imprint of a journalist’s keen eye for detail and drama.

Assam chief minister Himanta Biswa Sarma said that till now in Assam only one person has applied for Indian citizenship under the Citizenship Amendment Act (CAA). Union Home minister Amit Shah will hold a roadshow in Tinsukia on Tuesday. Sarma while talking to a media person on Monday said, “Till now only one person has applied and that too from Barak valley.”