Services Financial News

Bandhan Mutual Fund has announced the launch of the Bandhan Financial Services Fund, an open-ended equity scheme, that allows investors to benefit from the multi-year growth opportunities in the financial services sector. The New Fund Offer will open for subscription on July 10 and will close on July 24. “A significant portion of India’s economic growth is fueled by the financial services sector. Powerful enablers like increasing financial inclusion, growing digitization, and the relatively stronger balance sheet of banks and NBFCs provide visibility for strong earnings growth for this sector. It has been a key driver of returns for the capital market with the Financial Services Index growing 18X since inception compared to 10X for the Nifty 500 Index,” said Vishal Kapoor, CEO, Bandhan AMC. “The Bandhan Financial Services Fund will go beyond the traditional Banking sector by diversifying further with investments in Capital Markets, NBFCs, Insurance, and Fintech as well, providing investors with an opportunity to benefit from India’s long-term growth story,” added Kapoor.

Arvind Kejriwal leading the effort by burning copies of the ordinance. Also read: Supreme Court to hear AAP govt's plea on Centre's Delhi services ordinance The Delhi government's petition contends that the ordinance exhibits contempt for the elected government while feigning involvement through the chief minister.

India has doubled its share of global commercial services exports to 4.4 per cent in 2022 from 2 per cent in 2005, according to a World Bank and World Trade Organisation (WTO) report. "China and India doubled their share of global commercial services exports from 2005 to 2022, from 3.0 per cent to 5.4 per cent, and from 2.0 per cent to 4.4 per cent, respectively," it said.

commercial services exports to 4.4% in 2022 from 2% in 2005, the World Bank and World Trade Organization (WTO) said Monday. In a report titled ‘Trade in services for development’, they said that in India, South Africa and Türkiye, jobs directly linked to cross-border services exports account for more than 10% of total services sector jobs.

₹30,274 crore. Asian Development Bank (ADB), Asia Infrastructure Investment Bank (AIIB), and New Development Bank (NDB) are co- financing in the project.  RAPIDX will have a dedicated women’s coach on every train. "Moving in the direction to Meerut from Delhi, the second coach of the train set, i.e.

services exports in May climbed 7.7% on year to $27.06 billion, while imports rose 2% to $15.5 billion, provisional data by the Reserve Bank of India showed on Monday. The government's first preliminary estimates released mid-June had shown services exports stood at $25.3 billion, while services imports was at $13.53 billion.

GENEVA (Reuters) — The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying this could help developing countries reduce poverty.

Piramal Enterprises with a target price of Rs 1165. The current market price of Piramal Enterprises is Rs 945.5.

One97 Communications, incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 54515.29 Crore) operating in Services sector. One97 Communications key Products/Revenue Segments include Sale of services and Other Operating Revenue for the year ending 31-Mar-2022.Financials For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2464.60 Crore, up 15.16 % from last quarter Total Income of Rs 2140.20 Crore and up 49.51 % from last year same quarter Total Income of Rs 1648.40 Crore.

Manipur government has extended the ban on internet services till July 5. The state government has deferred the reopening of schools to July 8.

On a year-on-year (y-o-y) basis, non-food bank credit rose 16.1 per cent in May as compared with 12.7 per cent a year ago according to latest data on sectoral deployment of bank credit released by the Reserve Bank of India on Friday. “Healthy balance sheets of banks and corporates are engendering a new credit and investment cycle and brightening the prospects of the Indian economy” the latest Financial Stability Report said.

Ind-Ra) expects the services trade surplus to grow 17.8% yoy in FY24 (FY23: 33.3%) and reach USD168.9 billion (FY23: USD143.3 billion). This is expected to finance 62.2% of the merchandise trade deficit in FY24 (FY23: 54.0%). India’s overall exports (merchandise plus services) grew 14.3% yoy in FY23.

Swiss private banking giant Julius Baer Group, that began offering Bitcoin and other crypto services to wealthy clients in May last year, is now expanding its crypto presence in Dubai.

EDX, a cryptocurrency exchange launched a week ago with the backing of tradfi heavyweights such as Citadel Securities, Fidelity Digital Assets and Charles Schwab, is reportedly preparing to switch custody providers, dropping Paxos Trust in favor of Anchorage Digital. EDX has a noncustodial business model designed to remove conflicts of interest. 

A formal agreement on how the UK's and EU's financial services authorities will work together in the future is being now signed — more than two years after it was first agreed.

Hong Kong and Shanghai Banking Corporation (HSBC) — the biggest bank in Hong Kong — has reportedly introduced its first local cryptocurrency services.

Source: AdobeStock / prima91

The Belgian Financial Services and Markets Authority (FSMA) has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services. 

Singapore based cryptocurrency exchange service provider Crypto.com has obtained a virtual asset service provider (VASP) registration from the Bank of Spain. The regulatory approval would allow the exchange to offer a range of crypto-focused services to customers in Spain, a country which has shown a positive crypto stance in recent times.

Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state.

Floating Point Group (FPG), a crypto prime brokerage, has suspended all withdrawals, deposits and trading on its platform after suffering from a $15 million cyberattack over the weekend.