Platform Financial News

Trident Techlabs listed at a premium of 180.4% on the NSE SME platform on Friday at Rs 98.15 per share. Ahead of the listing, the company's shares traded at a premium of Rs 43 in the unlisted market. The IPO was priced in the range of Rs 33-35. The Rs 16-crore IPO of Trident Techlabs was subscribed over 700 times at close.

Uday Kotak, the founder and director of Kotak Mahindra Bank, wants you to move away from banks in a bid to create sustained growth story. You heard that right. In so called year-end musings, Kotak highlighted a changing landscape where savers are transforming into investors, presenting challenges for the banking sector regarding deposits and funding costs. «As savers become investors the banking sector faces challenges on its deposits and cost of funds. The large corporate sector has to meaningfully move to capital markets (debt and equity) and away from banks,» Kotak wrote on a Twitter post. «Banks will become distributors of corporate debt rather than storage houses. They will need to penetrate mid sized corporates, MSMEs and consumers,» he added. He also said that we need to keep Japan of the 80s at the back of our mind.

NSE SME platform on Friday. The stock was listed at Rs 98 on NSE. Ahead of the listing, the company's shares were trading with a premium of Rs 31 in the unlisted market.

How the interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) is calculated The interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) is not fixed. It is linked to the interest rate of the National Savings Scheme (NSC), a small savings scheme offered by the Union government. RBI Floating Rate Savings Bonds will pay 0.35% higher than what NSC offers.

here. In September 2022, I wrote that Web3 as a concept had many positives—at least in theory. DeFi, or decentralised finance, to begin with, is likely to be the first killer app of Web3, which could dramatically increase the level of control borrowers have on their data.

Apple's premium iPhone 15 smartphone, it has received a significant price cut on Amazon and will be available for less than ₹75,000 on the e-commerce platform. The iPhone 15 was launched at Apple's Wonderlust event on September 12 at a price of ₹79,990. The premium smartphone is now listed at ₹74,990 on Amazon, but the effective price of the smartphone can be further reduced by availing applicable bank discounts.

In the dynamic realm of cryptocurrency, Cardano (ADA) stands out with its recent price movement. As of December 29, ADA’s price hovers around $0.6101, showing a 6.42% decline over the last 24 hours.

Non-Banking Financial Companies(NBFCs). And just like banks, loans given to retail borrowers by these alternative platforms are also growing fast in size. The latest RBI data released via a report vouches for this.

NPS contributions more accessible, efficient, and flexible. This initiative by PFRDA will empower NPS subscribers to take control of their retirement savings and benefit from the advantages of systematic investment planning. Under this new mechanism, subscribers can utilise the UPI QR Code to transfer their contributions.

Tata Coffee: Tata Group company's Tata Coffee will complete the merger with Tata Consumer Products Ltd (TCPL), and Tata Beverages and Foods Ltd (TBFL) on Monday, the company said in its stock exchange filing on Thursday. Tata Coffee shares closed 1.33% higher at ₹308.15 per share on Thursday. J B Chemicals and Pharmaceuticals Ltd: JB Chemicals looks to continue its growth momentum, driven by the geographical expansion of legacy brands, scale-up in Sanzyme, Azmarda, and Razel franchises, MR productivity improvement, scale-up of contract manufacturing business and new product launches across markets.

South Korean police say they have swooped on a $32 million chat app-based crypto scam ring that they say was being run by a network of “gangsters.”

DMI Finance and Aditya Birla Finance are trying to scoop up fintech lending startup ZestMoney in a firesale, two people in the know of the matter told ET. The talks are still going on but the deal could get signed soon, they added.

Ecommerce giants Amazon and Flipkart's cumulative ad revenue rose 39% to Rs 8,705 crore in the fiscal year through March 2023, as advertisers across categories used the platforms amid growth in their user base, as per data filed by the companies with the Registrar of Companies (RoC). In FY23, Amazon Seller Services, the marketplace arm of Amazon, recorded 29% growth in ad revenue at Rs 5,380 crore, according to the RoC filings sourced from business intelligence platform Tofler. For Flipkart Internet, the marketplace arm of Flipkart, revenue from this segment rose 60% to Rs 3,325 crore.

IPO) in the world after China in 2023, according to data from Bloomberg. The world's most populous and fastest-growing economy recorded 240 IPOs during the year helped by a steady inflow from domestic investors amid a buoyant stock market.

Perpetuals trading protocol Levana has fallen victim to an oracle attack, resulting in a loss of $1.14 million.

Judges Luke Bryan, Katy Perry, and Lionel Richie have posted on their social media handles about the release date of the upcoming season.

In August, Chandrayan-3’s landing on the moon signified more than India’s advancement in science and technology. It signalled to the world India’s spirit of innovation, extraordinary talent and the desire to invest in the power of technology to change lives and take the country forward. In many ways, India is already leading the world in people-centred innovation.

income tax department on Thursday clarified the applicability of TDS liability of e-retailers trading through the government's ONDC initiative. As per the FAQ issued by the Central Board of Direct Taxes (CBDT), a 1% TDS will have to be deducted from the gross sale amount after including convenience/ packaging/shipping fees as charged by ecommerce trading platforms for the order placed on ONDC. As ONDC or Open Network for Digital Commerce is a new initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), the CBDT had received representations seeking clarity on who should be liable for Tax Deducted at Source (TDS) compliance under I-T laws.

Arenadata, a Russian developer of data collection and storage platforms, intends to launch an initial public offering (IPO) on the Moscow Exchange in 2024, three sources in the Russian financial market told Reuters. The company later said that it was considering an IPO, among various options, but gave no timeline.

New York court issued a pivotal directive against Alibaba, compelling the Chinese ecommerce giant to confront a lawsuit initiated by a U.S. toymaker. The lawsuit alleges that Alibaba's digital platforms played a role in facilitating the trade of counterfeit Squishmallows, the cherished plush toys manufactured by Kelly Toys Holdings. Judge Jesse Furman, overseeing proceedings at the Southern District Court of New York, rejected Alibaba's motion to dismiss the lawsuit filed by Kelly Toys Holdings, an affiliate of Jazwares, operating under the umbrella of Alleghany Corp., a part of Warren Buffett's Berkshire Hathaway conglomerate.

₹1.12 trillion tax payments retrospectively. However, as the notices await adjudication, the final figure has not yet been determined under the provisions of Central GST Act. Delhi-based lawyer Dhruv Garg, who is a technology law and policy expert, said 2023 and 2024 have been a mixed bag for the industry.