Mobile Financial News

Pakistan in Samba and Poonch even as cordon and search operations continued for the seventh straight day on Wednesday to track the terrorists involved in last week's ambush that killed four soldiers in Jammu and Kashmir, officials said. Defence Minister Rajnath Singh has flown to Rajouri to visit ground zero on Wednesday along with Lieutenant Governor Manoj Sinha and Army chief Manoj Pande to review the security situation following the terror attack. «Security forces are continuing the cordon and search operation to track down the terrorists involved in the ambush on Army vehicles,» a senior official told PTI. The operation includes sniffer dogs, surveillance equipment and aerial mechanisms. Additional forces have been deployed to plug seven infiltration routes amid area domination operations in the area. Mobile internet services will remain suspended in Rajouri and Poonch for the fifth day in a row. Security forces and special operation groups have launched search operations at three places along the International Border (IB) in Samba district since this morning, officials said. They said that this has been done as a precautionary measure due to the intense fog along the borderline, they said. Security forces have also launched fresh search operations along the LoC in Kirni sector in Poonch following reports of suspicious movement in the area, they said.

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The European Commission recently approved regulations making it tougher for unintended immigrants to settle down in the European Union. Collectively known as the new EU Pact on Migration, the rules are aimed at restricting the number of new immigrants into the EU, even as member states recognize the need for new workers given the number of ageing individuals. The net result, perversely, might well be an increase in the legal flow of skilled immigrants, such as medical or information technology professionals.

artificial intelligence (AI) to discover content preferred by India's tier-2 and tier-3 cities. Flipkart is deploying such tools to strategically place sale banners on its mobile app, while P&G studied the subconscious preferences of consumers to improve the package design of its products. And, Star Disney tested six versions of the promo before launching a new primetime show to optimise promotion budget allocation. Brands are increasingly using facial expressions, eye tracking, voice modulation, body movements and several other concepts of 'emotion AI', to better their business offerings. The use-cases extend from digital advertising, mental health diagnosis, consumer research to enhancing safety in public spaces, etc.

car models will be unveiled or go on sale in 2024 as automakers ride on the momentum of the past two years and launch new battery-run vehicles as part of the transition to electric. This will be the highest number of new model introductions in the non-luxury segment in the last few years. Besides electric vehicles (EVs), they will include facelifts of existing models. New launches typically add 8-10% of total volume growth for automakers, potentially translating into 250,000-300,000 units of incremental volume, taking the domestic aggregate to a record 4.3-4.4 million units next year.

EKA Mobility has formed a strategic partnership with Japan’s Mitsui & Company and Netherlands-based VDL Groep to manufacture electric buses and light commercial vehicles in the country. As per the agreement, Mitsui and VDL together will invest $100 million (approx Rs 830 crore) in EKA Mobility for ‘significant’ minority stakes. The resources will be utilized to scale up research and development and enhance manufacturing capacity. EKA Mobility, which commissioned a production unit in Pune earlier this year, plans to scale up production capacity to roll out 5000 electric buses and 6000 light commercial vehicles per annum in the first phase.

mobile phone operators have called on the government to auction spectrum that would be used for direct-to-mobile (D2M) services in a technology neutral manner. The telcos petition comes in the wake of the government exploring a proposal to deliver broadcasting or TV content directly to mobile phones without a data connection and is considering reserving 526-582 MHz spectrum for such D2M services. But telcos say this spectrum is «precious» as they are already being identified by the International Telecommunication Union (ITU) for mobility services. «This spectrum needs to be assigned through auctions in a technology neutral manner. The successful bidders should be able to deploy this spectrum either for broadcasting (D2M) or IMT (mobility services) or both as per the requirement and under the terms of their service licence,» industry body Cellular Operators Association of India (COAI) submitted on behalf of the telcos. All the three private operators in India — Reliance Jio, Bharti Airtel and Vodafone Idea — are the core members of COAI.

FDI spiked in October on a surge in inflows and low repatriation. It is too early to see in the October performance a reversal of a weak trend for the financial year. The languor is on account of global investment being depressed in a fragile economic recovery.

A fraudulent version of open source crypto wallet Rabby Wallet has appeared on the Apple App Store.

Morgan Stanley reiterated an Overweight rating on Tesla Inc. (NASDAQ:TSLA) with a 12-month price target of $380.00 on the stock ahead of what could be another volatile year for the electric automaker.

Jammu and Kashmir's Poonch last week, officials said. Defence Minister Rajnath Singh is likely to visit ground zero on Wednesday with top Army and civilian officials monitoring the situation in Poonch in view of the terrorist attack which was followed by the death of three civilians in the area, official sources said. Over 30 suspects have been questioned during the past few days and several of them have been released, they said.

₹95,000 crore in investments were channeled through the PLI scheme in 2023, generating employment for about 640,000 individuals, according to a statement on Tuesday from the ministry's department for promotion of industry and internal trade (DPIIT). The ministry in 2023 approved 746 applications under the scheme, which targets 14 key sectors, including mobile manufacturing, telecom, pharmaceuticals, and the burgeoning drone industry. Overall, DPIIT said it is working with 24 sub-sectors, including furniture, aluminium, agrochemicals, robotics, and gym equipment, to promote domestic manufacturing, boost exports and reduce imports.

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grown by an above-trend 3%—about the same as in boomy 2005. Adding to the impression of befuddlement, most analysts were caught out on December 13th by a doveish turn by the Federal Reserve, which sent them scrambling to rewrite their outlooks for the new year. It is not just forecasters who have had a bad year.

electric vehicles (EVs) into the next financial year and is likely to seek additional resources in the interim budget to expand its corpus. With the third edition of the Faster Adoption and Manufacturing Electric Vehicles (FAME) scheme yet to get a nod from the finance ministry, possibilities are being explored to extend the current edition till a new supporting framework is put in place, sources aware of the details told ET. «Additional funds for FAME II can be sought in a vote on account,» said a person aware of the matter. The extension would not require multiple approvals as needed for a fresh scheme and will help maintain momentum in the market in the interim, he added. Next year's budget will be a vote on account as general elections are due in April-May.

ride-hailing apps have mushroomed in India in segments such as cabs, autorickshaw and bike taxis. The emergence of these apps and tackling the competition have become a matter of routine management discussions within incumbent operators Uber and Ola, said people in the know. New apps such as InDrive, Namma Yatri, Yaary, BluSmart and Rapido (in the cabs segment) are primarily looking to address gaps left by the larger players in terms of customer service and driver-partner satisfaction, these people said. Meanwhile, Uber and Ola have also moved to solve some of those service problems, like driver cancellations and supply retention.

NEW DELHI : The Union budget for 2024-25 may set aside ₹2 trillion for the agriculture ministry to help it expand the government’s flagship schemes on income support and crop insurance for farmers, two officials aware of the plans said. This will be a 39% increase in allocation for the ministry, which received ₹1.44 trillion in the 2023-24 budget. A bigger allocation may also help the ministry raise annual farmer income support from the current ₹6,000 to ₹9,000.

Mint explains: Terrestrial networks use on-ground telecom infrastructure to enable connectivity. However, on-ground network cannot cover every area. But a satellite network can, by beaming connectivity down to ground stations where ground networks aren’t present.

NBFCs have been integral to India's formal credit system since Independence, complementing banks in distributing credit. The sector has occasionally been marred by financial accidents, but it has proved resilience each time, followed by improved regulatory frameworks. The first instance of imposing an NBFC regulatory framework was in 1963, empowering RBI to supervise, regulate and control them effectively. This was initiated after a slew of fly-by-night operators denting the trust of household depositors (most NBFCs back then accepted deposits). Multiple government committees since then prompted a series of changes in the NBFC regulatory landscape:

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As the days of 2023 wind down, FixedFloat, the leading non-custodial automated exchanger, takes a moment to reflect on a year filled with milestones, growth, and community engagement. In this comprehensive review, we share our journey through statistics, highlight key achievements, and offer a glimpse into our plans for the upcoming year.