Services Financial News

₹39.37 crore (inclusive of taxes), the scope of the project encompasses the supply, installation, testing, commissioning, and training of the SOC and NOC solution, along with 5 years of ongoing support. IVFRT project aims to modernize and upgrade immigration services.

Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd, the company said on Saturday. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). It will lend to consumers and merchants based on proprietary data analytics and will eventually branch out to insurance, payments, digital broking and asset management. Every Reliance shareholder will get one share of the new firm for every share held in the parent. While the effective date of the demerger has been fixed as July 1, July 20 has been fixed as the record day for allocating shares of the new company, according to the company's stock exchange filing. The spinoff, which will create fifth-largest financier in terms of capital and compete directly with the likes of Paytm and Bajaj Finance, will complement Reliance's consumer businesses, which include India's largest wireless operator with about 428 million users, top retail chain with over 17,000 stores.

Jio Financial Services demerger: The primary and secondary market is ful of buzz about the Jio Financial Services IPO as Reliance Industries Ltd (RIL) is all set for demerger after receiving the nod from National Company Law Tribunal (NCLT). RIL has informed Indian stock market exchanges that NCLT has given its nod for demerger of company's financial services undertakings.

stocks. Improved asset quality, growth in margin expansion, and better-than-expected earnings in the March quarter promoted FPIs to change their views on the sector. The other two sectors where FPIs bought maximum shares include auto and auto ancillaries and capital goods, where FPIs invested ₹19,500 crore and ₹12,400 crore, respectively, since March 1.

The Taliban says beauty salons have been banned in Afghanistan because they offered services forbidden by Islam and caused economic hardships for grooms’ families

Uber Eats, DoorDash and Grubhub have sued New York City to block its new minimum pay rules for food delivery workers

CUSO Financial Services (CFS) is to provide wealth management services to Capital Credit Union (Capital) of Wisconsin which is switching affiliation from LPL Financial.

France on Thursday. The parade will witness a 269-member tri-services contingent of the Indian Armed Forces marching alongside their French counterparts, the Ministry of Defence said. The Fete Nationale Francaise is celebrated on July 15 or the National Day in France.

finance ministry in its annual report has said that expert services is the major contributor to the job creation in the formal sector. Citing EPFO or Employees Provident Fund Organisation data, the report said that expert service sector (consisting of manpower suppliers, normal contractors, and security services, among others) contributed 51% to formal job creation in FY23.

PMI Business Activity Index to 58.5 in June, compared with 61.2 in May. This is the second month of decline after services PMI had scaled a 13-year high of 62 in April. A value of over 50 denotes expansion. Despite the easing, growth prospects strengthened as firms expected demand conditions to improve. “Demand for Indian services continued to surge higher in June, with all four monitored subsectors registering quicker increases in new business inflows,” said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. The 400 service firms highlighted healthy demand and marketing initiatives as major contributors for the uptick in new business. The better outlook bodes well for the economy, as manufacturing is expected to ease owing to the global slowdown.

Assam chief minister Himanta Biswa Sarma said that state government will bring a citizen led self assessment policy for quality of services. Sarma tweeted, «coming soon~ A citizen led self assessment policy for quality of fair price shops & anganwadi centres, buoyed by success of similar exercises.With Gunotsav (education) & Swasthya Seva Utsav (health), we shall have created a robust evaluation framework to enhance Ease of Living.» He added, «we have sufficient clinical evidence to suggest that one organ donor can save upto 7 human lives».

New Delhi: The Ministry of Home Affairs on Wednesday announced the launch of the “Scheme for Expansion and Modernization of Fire Services in the States" with a total budget of Rs. 5,000 crore.  The scheme, part of the preparedness and capacity building funding window under the National Disaster Response Fund (NDRF), aims to strengthen fire services across the country.  Out of the allocated amount, Rs.

Officials in the United States are considering restricting China’s access to cloud computing services in an effort to safeguard the country’s advanced technology, according to a report in the Wall Street Journal. 

India, July 5, 2023: Goa, known for its picturesque landscapes and vibrant culture, has become the latest addition to the Housewise family as the property management startup extends its operations to this popular tourist destination. With a successful launch in Pune and Bengaluru back in 2017, Housewise has steadily expanded its presence to several major cities across India, including Hyderabad, Chennai, Delhi, Noida, Gurugram, Mumbai, Thane, Ahmedabad, Kolkata, and now Goa.

Global Market Intelligence. "This bullish pick-up in growth momentum supported a further sharp upturn in business activity and encouraged another uplift in employment figures, boding well to near-term growth prospects," she added. India's services sector, one of the fastest growing in the world, contributes to over 50% of the country's GDP.

Tata Consultancy Services with a target price of Rs 3334. The current market price of Tata Consultancy Services is Rs 3322.15.

Small cap darling Johns Lyng Group has agreed to buy Smoke Alarms Australia and LinkFire, adding to its burgeoning property services portfolio.

Amid increased global scrutiny on crypto exchanges, Thailand joins Singapore among Southeast Asian countries to ban retail lending and staking services. 

HDFC Ltd in the Nifty Financial Services index. The development comes after HDFC merged with HDFC Bank with effect from July 1, 2023.  The NSE Indices also announced replacement against HDFC share price on its indices.

A crypto platform Voyager filed for bankruptcy a year ago, in July 2022, due to substantial losses caused by the bear market and the collapse of the Terra blockchain. 

Mutual Fund on Tuesday launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector.