Progressive Financial News

₹87 per capita in rural areas and ₹62 per head in urban zones. For the country as whole, it is ₹129,910 crore in current prices, with a large part of the total accounted for by a cereal subsidy, at ₹122,772 crore. Even this food subsidy figure is low compared to the reported expenditure on free foodgrain provision under the PMGKAY at more than ₹250,000 crore.

Signs of progress in the Bank of Canada’s inflation fight are “very encouraging” to monetary policymakers, a deputy governor at the central bank says, but that’s not the only thing officials are looking at when gauging their interest rate path.

Google researchers are setting their sights on another pressing global challenge: flood prediction. Their efforts are outlined in a recent research paper published in Nature, shedding light on how AI can revolutionize flood forecasting and potentially save countless lives, reported HT Tech.

Existing investors such as the promoter family offices of TVS Capital, Ajanta Pharma, Pidilite, Dalmia and Dabur are likely to invest in this Category-III Alternative Investment Fund (AIF), said people in the know. The private investment in public equity (PIPE) fund has already received commitments worth ₹500 crore, they said.

Federal Reserve officials didn’t significantly change their outlook for delivering interest rate cuts later this year despite solid growth and firmer-than-anticipated inflation in recent months. Most officials penciled in three rate cuts this year in new projections, the same as in December. The central bank held steady its benchmark federal-funds rate in a range between 5.25% and 5.5%, a 23-year high.

(Reuters) -The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank's 2% inflation target.

Investing.com — The Federal Reserve kept rates steady on Wednesday, and maintained forecasts for three rate-cuts this year, pointing to the central bank’s confidence that the recent strength in inflation is unlikely to derail the recent progress.

Debi Lucas had a tremor in her arm. Her feet froze when she tried to walk and she fell into her coffee table, busting her lip. She went to a neurologist who thought she had Parkinson’s disease.

In 2016, the days from 6 March to 15 March were marked on the calendar for a much anticipated match-up between machine intelligence and human intelligence. AlphaGo, an artificial intelligence (AI) powered machine developed by DeepMind, took on Lee Sedol, the undisputed human champion of Go in a best-of-five-games contest. AlphaGo easily won the first game.

loans during the third quarter of the fiscal, an increase of 12% compared to a year ago and a marginal degrowth over the previous quarter, (Fintech Association for Consumer Empowerment) FACE said. Disbursement value increased 46% to reach Rs 33,922 crore. The association said average ticket size for loans disbursed at Rs 11,945. Based on responses from 28 NBFCs, 80% were profitable in the first three quarters of FY23, as opposed to 68% in FY 22-23, said the report. Fintech Association for Consumer Empowerment (FACE) is an industry body that tracks the progress of digital loans. The report also said that women account for 12% of the loans disbursed and their participation in leadership roles is less.

Gate Group Adds Italian VASP Registration to List of Global Expansion Achievements

US-based crypto companies tend to offer higher salaries across various positions and experience levels compared to their international counterparts, a survey published Tuesday showed.

The narrative surrounding women and finances is undergoing a remarkable transformation in today's world. Women are boldly taking on leadership positions, shattering barriers, and making remarkable progress towards equality in numerous areas. Nevertheless, there is still progress to be made when it comes to financial matters. Encouraging women to embrace investing is a vital step forward. It is high time for women to take charge of their financial destinies and work towards achieving independence through wise investments. 

inflation rate fell more than expected in February, official data showed Wednesday, fuelling speculation that the Bank of England will cut interest rates this year. Inflation reached 3.4 percent last month — the lowest level since September 2021 — after hitting 4.0 percent in January, according to the Office for National Statistics.

LONDON (Reuters) -British inflation cooled in February by slightly more than economists and the Bank of England expected, according to data on Wednesday that could give the central bank more confidence that it can cut interest rate cuts in the coming months.

AIADMK party on Wednesday released its first list of 16 candidates for the upcoming Lok Sabha polls 2024. While releasing the list, party general secretary, Edappadi K Palaniswami said that five constituencies have been allocated to the DMDK; and one each to Puthiya Tamilagam and SDPI. «In the AIADMK alliance, DMDMK is to contest in 5 seats, SDPI in 1 seat and Puthiya Tamilagam in 1 seat, from Tenkasi constituency,» said Palaniswami.

Fintech Flourish is capturing a bigger share of Focus Financial Partners’ tech stack as it unveils a new partnership.

Congress on Tuesday alleged that India's farmers have faced 10 years of «anyay-kaal» with the agriculture ministry being a «complete failure» in every basic responsibility, and asserted that farmers now need the party's «Kisaan Nyay» guarantees. Congress general secretary in-charge communications Jairam Ramesh claimed that of all the various «failures» of the Narendra Modi government, the «sheer incompetence and maliciousness» of the agriculture and farmers welfare ministry is among the most harmful and self-evident. In a detailed post on X, Ramesh listed the various «failures» of the government in ensuring development of farmers. He claimed that the «eight major failures» of the Modi government's agriculture ministry are — «extortionate GST on agricultural inputs, non-utilisation of ministry funds, failure to double farmers' income; inadequate MSP increases and non-implementation of the Swaminathan Commission Report, failure to diversify crops, dependence on imports for edible oils, failures on trade policy, and rising indebtedness and farmer suicides».

Galaxy Asset Management, a prominent crypto investment firm, has surpassed $10 billion in assets under management (AUM) amid a surge in institutional interest in digital assets. 

jet off to Davos each year is to check in on important relationships, be they with critical suppliers or big-spending clients. This year many are wondering about their relationships with Microsoft and OpenAI , the startup behind ChatGPT. The companies are the world’s most prominent purveyors of artificial intelligence (AI), which has the business world giddy.

National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday, said people with knowledge of the matter. NARCL gave a binding offer of Rs 670 crore to acquire Rs 3763 crore debt from lenders, according to a sale notice that did not name the ARC. The offer from NARCL—which is a 15:85 structure—equated to an 18% recovery from lenders. Under the structure, 15% of the consideration is cash, and the balance is in the form of security receipts (SR) payable on loan recovery.