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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.

Embark on an exploration of BlockDAG ‘s ambitious journey to ascend into the top 10 cryptocurrencies by 2024, boasting a projected 30,000X return on investment that aims to overshadow the accomplishments of industry giants like Solana and PEPE. BlockDAG stands out with its innovative integration of blockchain and Directed Acyclic Graph (DAG) technologies, promising unparalleled security and transaction speed. 

Zodia Markets’ co-founder, Nick Philpott, praised Abu Dhabi’s crypto regulations, emphasizing the “remarkable” degree of interaction with regulatory authorities in the region.

₹2.54 trillion on the NSE. While some experts said investors were spooked by concerns over escalation of the Middle East crisis, a delay in rate cuts by the US, and an amendment to the India-Mauritius tax treaty, others pooh-poohed these concerns and said the correction was expected and healthy. The sectors that saw the highest profit booking were banking, IT, infra, oil and gas, and pharma.

The SEC has reached settlements with five investment advisory firms, which will pay a collective $200,000 in penalties, after a targeted sweep discovered practices that breached its marketing rule.

Demat accounts rose to 15.1 crore in March, revealed a report by Motilal Oswal. The total number of Demat accounts has been consistently on the rise from having 11.4 crore users since March 2023. CDSL maintained its market share in terms of total Demat accounts and saw a month-on-month increase. However, NSDL experienced a decrease of 390 basis points in total market share and 570 basis points in incremental Demat accounts on a year-on-year (YoY) basis.

Future Group promoter Kishore Biyani has settled dues worth Rs 571 crore to lenders of Bansi Mall Management Company by making a one-time settlement of Rs 476 crore, a recovery of 83% for the creditors. The settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai's Haji Ali locality. The recovery from Future Group is a rare success story for banks who had suffered loan write-offs and losses in several cases previously.

demat accounts in India crossed the 15 crore mark for the first time ever in March on the back of sustained bullish momentum in the Indian market. According to domestic brokerage house Motilal Oswal Financial Services, the total number of demat accounts jumped to 15.1 crores in March 2024, with new account additions surging to 31 lakhs in the previous month. The Indian benchmark Nifty rose 1.5 percent in March on the back of strong macro cues, hopes of a rate cut, continuous foreign investor inflows as well as overall positive global market trends.

Systematic Investment Plan (SIP) is a method of investing money in mutual funds. It allows you to invest a fixed amount at regular intervals (like monthly or quarterly), instead of making a large, one-time investment. This disciplined approach to investing helps you take advantage of market fluctuations, as you buy more units when prices are low and fewer units when prices are high.

Also read: Donald Trump criticised for insulting Jewish & Black supporters of Biden When asked which president did more to help people like them, roughly one-third say Donald Trump and about one-quarter say Joe Biden. Yet 30% of adults said neither Biden nor Trump benefitted them. It's another data point reflecting an electorate that has been largely disappointed with this year's general election choices, generating little enthusiasm among key parts of the Biden and Trump political coalitions.

₹35,000 crore in Indian equities during the month of March 2024, marking a significant uptick from the investment of ₹1,539 crore in February. This surge follows a substantial outflow of ₹25,744 crore witnessed in January. Looking into the trends in FPI flows last month, data shows overseas investors bought Indian equities worth ₹40,710 crore in the first 15 days of March, while they were net sellers to the tune of ₹5,612 crore in the second half of the month, as per data from National Securities Depository Ltd (NSDL).

Stock Market Today: Markets started on a weak note and slipped further on Friday. The Nifty-50 and Sensex saw sharp cuts of almost 1 % each after having scaled all time highs on Wednesday. While Thursday was a market holiday in India, Nifty had scaled all-time highs of 22,775.70 on Wednesday as Sensex also hit all time highs of 75,124.28 before it closed above the 75,000 Mark (75,038.15) for the first time in the history.

Investors keep the faith in Indian social startups, eye GenAI models Among the FinTech sector, the 'Alternative Lending' segment accounted for almost 89% of the total funding in the first three months of 2024. The 'Alternative Lending' firms clocked $491 million during this period, Tracxn mentioned. Credit Saison emerged as the top-funded company in the 'Alternative Lending' segment, receiving $144 million in a Series D round in Q1 2024.

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.

Two decades ago, India stood on the brink of the mobile phone revolution, and today, it has permeated every corner of the nation, with 90% of the population owning mobile phones. This surge in mobile phone adoption has not only transformed various industries but also catalysed the Digital India campaign launched in 2015, which significantly enhanced broadband connectivity even in remote regions of the country.

Avenue Supermarts Ltd. gained 0.17 per cent to Rs 4760.85 in Friday's trade as of 11:41AM (IST). The stock hit a high price of Rs 4802.7 and low of Rs 4725.55 during the session. The return on equity (ROE) for the stock stood at 14.83 per cent. Traded volume on the counter stood at 11:41AM shares and turnover at Rs 2.3 crore around that time. The stock of Avenue Supermarts Ltd. quoted a 52-week high price of Rs 4831.0 and 52-week low prices of Rs 3353.05, respectively.

Sanjiv Bhasin, Director, IIFL Securities, says in October, when the FII short position was over 74%, that was when one had to be greedy. Now they have turned long on 18% and there is no short position. So, now, one should be fearful. You have to take it at your own risk reward. I see no risk reward right now till the earnings season is over as a large part of the positives of earnings are already priced in.” Bhasin says: “I continue to be positive on a buy on Vedanta on any decline and a buy on Nalco and SAIL. In specialty chemicals, UPL, Navin, Aarti are looking good.” You had earlier warned that this month could get a little volatile and looking at the CPI and the PPI print in the US and the way the markets panned out from there, it seems like we got to brace ourselves for a little bit of global volatility? Sanjiv Bhasin: That is very much on the cards. However, like you see in the US, the Magnificent Seven are again touted to have their best week in the last three. So, weak data or hotter than expected inflation is all getting absorbed. It is typical of a bull market which is ignoring bad news just on the pretext that people are feeling missed out.

Savills India data. Despite occasional disruptions and sporadic inflation, India has demonstrated resilience, outpacing comparable economies with a growth rate of 7.2% in FY23 and promising projections for the future. The real estate sector, constituting about 7.3% of India's GDP, has undergone notable transformations, especially in its financing landscape post-pandemic, with renewed confidence from private equity funds. “To drive further growth, we must expand our asset pool and enhance the investor-friendly environment. Simplifying regulations and addressing sector-specific challenges are crucial for boosting investor confidence and unlocking new opportunities. With a promising economic outlook and conducive policies, India's real estate is sure to tread the growth path,” said Arvind Nandan, Managing Director, Research & Consulting, Savills India.

AP Inter Result 2024 Toppers List: The Andhra Pradesh Board of Intermediate Education is set to unveil the much-anticipated AP Intermediate toppers list 2024 shortly. This comprehensive list, accessible through Manabadi Intermediate Toppers List, will showcase the names of students, their respective ranks, marks obtained, and other pertinent details. Alongside the announcement of the BIEAP 1st and 2nd-year toppers list, the board will also reveal the district-wise pass percentage. Candidates eager to view the AP Inter results 2024 can do so through the official websites: resultsbie.ap.gov.in and examsresults.ap.nic.in. Here, they will find the Manabadi Intermediate Topper List, Pass Percentage, and District Wise Results.

Kwatra is here this week for a series of meetings with senior officials from the US Government and interaction with industry leaders to advance bilateral cooperation in areas like defence and technology. Kwatra held separate meetings with Richard Verma, Deputy Secretary of State for Management and Resources and Kurt Campbell, Deputy Secretary of State at the Foggy Bottom headquarters of the State Department. «Productive catch up with Indian Foreign Secretary Kwatra on advancing ongoing US-India cooperation and the need for our countries' close partnership for regional security and prosperity,» Verma said in a post of X. Earlier in the day, Kwatra was hosted by the US India Business Council over a breakfast meeting with its Board Chair and NASDAQ Executive Vice Chairman Ed Knight.

Lupin Ltd. traded 1.8 per cent up at Rs 1634.55 at around 10:15AM (IST) on Friday. The stock had closed at Rs 1605.5 in the previous session. Equity benchmark Sensex traded 444.9 points lower at 74593.25 around the same time.