Market and Business News

Ahmedabad. 31 March 2023, Friday Virgin Orbit, the rocket company founded by billionaire Richard Branson, has laid off about 85 percent of its workforce, or 675 employees. Virgin Orbit has ceased operations for the foreseeable future, company CEO Dan Hart said Thursday. "Unfortunately we have not been able to raise funds for the company so we now have no other option but to take these drastic painful measures," Hart told employees. In a US securities filing, the company announced layoffs of approximately 675 employees, approximately 85 percent of the company's total workforce. The company will have to pay a total of approximately $1.5 million due to this drastic decision of retrenchment including salary and other allowances as per rules. The company hopes to complete the retrenchment process by April 3. Branson founded Virgin Orbit in 2017 after splitting from its sister company Virgin Galactic. Virgin Orbit is developing an air-launch rocket, known as LauncherOne,

New Delhi: Due to the so-called monopoly of large industrial groups operating in India, the development of small business houses is not only being stifled, but the government is also in a way covering up these giant corporate groups, ex-Governor of the Reserve Bank of India Viral Acharya has exclaims in an article in an international news. The organization said. India's big business houses who have extensive pricing power in retail, resources and telecommunication sectors, which has resulted in the country being unable to reduce inflation in the country, the power of these groups play a major role in keeping inflation high, so the early empire of these industry groups to reduce inflation. He gave an indirect indication that it was necessary to disperse. The five big (Big Five) conglomerates namely Reliance Group, Tata Group, Aditya Birla Group, Adani Group and Bharti Telecom have grown at the expense of small local business houses, said Viral Acharya. He was the Deputy Governor

- Details of transactions in shares or other investments worth more than six months basic salary during a calendar year are required to be furnished. NEW DELHI: The central government has directed the IAS, IPS and IFS officers of the country to disclose the details of such transactions in case the total value of transactions in stocks, securities or other investments exceeds their six months' basic salary during a calendar year. According to the relevant order issued by the Ministry of Personnel, the central government has asked all IAS, IPS and IFS officers to declare the full details of any deals worth more than six months of the total basic pay received by them during a calendar year. Along with this, this information will be required to be given under Rule 16(4) of AIS or All India Services (Conduct) Rules, 1968. These rules are applicable to the members of the three All India Services Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Forest Service

MUMBAI: The recent rise in global prices of sugar, which is used in most food items apart from chocolate to cold drinks, threatens to push up global food inflation. In the current week, the prices of refined sugar rose to a decade high globally. Raw sugar prices have also touched near six-year highs. Global sugar supply has been disrupted due to low production of sugar in India this year as well as export restrictions. India is a major exporter of sugar in the world market. Export of 60 lakh tonnes of sugar from the country has been allowed in the current season as against 1.10 crore tonnes in the previous season. The current sugar season will end on September. In the next season, the export is expected to be reduced to 40 lakh tons. There were reports of inflation resurging in the UK recently due to high sugar prices. Brazil, a major sugar exporter, is expected to produce a bumper crop of sugarcane, but rains have slowed harvesting, the report said. A local exporter said that I

NEW DELHI: The ban on wheat exports will continue until the country feels comfortable with domestic supply to meet food security needs. Wheat production has not been affected due to unseasonal rains. Food Corporation of India (FCI) chairman and managing director Ashok Meena said that even after the rains, the total production of wheat this year will be a record 112 million tonnes. Export of wheat will not be allowed as far as the government is concerned to ensure food security of the common man. Therefore, the export ban on wheat will continue until the country feels comfortable with the supply. India, the world's second largest wheat producer, banned wheat exports in May 2022 as part of measures to control rising domestic prices. He also mentioned that government procurement of fresh wheat crop has started. About 10,727 tonnes of wheat has been procured at the Minimum Support Price (MSP) in Madhya Pradesh. High wheat production expected this year According to the Agriculture

Mumbai: On the occasion of Ramnavami, the domestic Mumbai Sonachandi market remained closed, but behind the international market, the prices were strongly discussed in the local private sector. In the Mumbai market, silver was traded at Rs 1,150 higher by Wednesday's close. In the closed market, the dollar was weakening against the rupee. Global crude oil remained stable. At home, the price of 99.90 gold rose to Rs 59,375 in the Mumbai market. With GST, the prices were raised by three percent. The price of ten grams of 99.50 was Rs. 59175. With GST, the prices were raised by three percent. Silver .999 per kg increased to Rs 1150 and was sold at Rs 71150 per kilo. With GST, the prices were raised by three percent. In Ahmedabad, the price of ten grams of 99.90 gold was Rs. 61,000 and ten grams of 99.50 was priced at Rs. 60,800. Silver .999 per kg was quoted as Rs 71000. In the world market, gold was quoted at 1970 dollars per ounce late in the evening while silver was quoted at 2

New Delhi: In the financial year 2024, the central government will spend Rs. 23,764.46 crore sovereign green bonds can be issued. This information is derived from the Expenditure Profile documents of the Union Budget 2023. Compared to that, in 2023 Rs. 16,000 crore green bonds were issued. The green bonds will be issued in the second half of fiscal 2024 (October 23 to March 24), officials are yet to finalize the list of projects for the sovereign green fund. Options are open to issue some bonds under finalization and during the first half (March-September 2023). The Infrastructure Finance Secretariat has been asked to identify projects that meet the criteria for green bond funding in FY 2024. According to the plan presented in the budget documents, most of the green bonds will be for making electric locomotives for railways (Rs 12,479 crore) and the new Kolkata Metro line. Ministry of Energy for various schemes Rs. 7,507.5 crore will be received. While the Ministry of Housing and U

Investors were dismayed by the faltering sentiment Mumbai: Fund raising through IPO-Initial Public Offerings has also seen a decline of more than 50 percent compared to the previous financial year, with the overall trend becoming pessimistic in the financial year 2022-23. More than Rs.1,11,547 crore was raised through 53 IPOs in FY 2021-22, compared to which Rs.52,116 crore was raised through 37 IPOs in FY 2022-23. According to this figure of Prime Database, there has been a decline in fund raising through IPOs this year. In the year 2022-23, two companies, Hariom Pipe Industries and Venus Pipes, have given investors a high return of 222 percent and 111 percent respectively in IPO. India's largest IPO in this period was Life Insurance Corporation of India, but investors in this IPO suffered losses. Investors are currently losing 43 percent in LIC's IPO from the issue price. Meanwhile, the entry of new age tech companies i.e. Internet companies in the primary market has also

image : Wikipedia The market regulator SEBI has asked the top 100 companies listed in the stock market that if any news or report related to them is circulating in the market, it has to be confirmed or denied before the stock exchange within 12 hours. This order has been issued with the objective of bringing more transparency in the market as well as bringing forward the disclosure of any incident within the time frame. The rule will apply to 100 companies from October The Board of Directors of SEBI held a meeting. In which it is stated that this rule will be applicable on the top 100 companies in terms of capitalization in the stock market from October 1, 2023. While this rule will be applicable on top 250 companies from 1 April 2024. Information has to be presented within 30 minutes Sebi also said that within 30 minutes of the meeting of the company's board of directors, any discussion or disclosure made in the board meeting has to be brought before the exchange. In fact, w

Mumbai: The precious metal is currently in a consolidation mood after rallying in the global market for the past few weeks, due to which gold and silver prices are firming domestically as well. Due to the year ending, traders are also seen to be staying away from new business. The rupee weakened against major global currencies. There was a break in the rupee's correction against the dollar. Crude oil prices were bullish on expectations of a demand glut amid tight supplies. Rupee breaks two-day rally against dollar: Crude firm At home in the Mumbai jewelery market, the non-GST price of 99.90 ten grams of gold rose by Rs 370 to Rs 59,335 compared to yesterday, while the price of 99.50 ten grams of gold was Rs 59,097. With GST, the prices were raised by three percent. The price of silver 999 per kg without GST was increased by Rs 500 to Rs 70,000. With GST, the prices were raised by three percent. In the Ahmedabad market, gold at 99.90 per ten grams rose by Rs 300 to Rs 61,000 wh

MUMBAI: Bank locker holders who have signed new agreements with banks before 2022 regarding their lockers may have to renew their agreements. The Reserve Bank of India (RBI) has instructed the banks that the agreements with the locker holders should be as per the revised model agreements reviewed by the Indian Banks' Association (IBA). This notification of RBI has come through a circular dated 23rd January 2023. The circular comes after the RBI noticed that some banks did not mention the banks' liability or compensation policy in case of fire, theft or vandalism in the newly revised bank locker agreement. Many banks have entered into such unspecified agreements with their customers. In case of any loss to the locker holder due to the negligence of the bank, the bank will have to pay compensation of 100 times of the annual rent of the locker to that customer, according to the notification of the Reserve Bank of August 18, 2021. Banks are not obliged to pay compensation in c

New Delhi: As part of the commemoration of the 50th anniversary of the establishment of Project Tiger in the country, the Ministry of Finance dated On April 1 Rs. 50 coin will be presented. Necessary orders have been given in this regard. The then Prime Minister Indira Gandhi on On April 1, 1973, Tiger Project was introduced in the country. This government scheme focused on this endangered species in the country. Rs. This coin of 50 is 44 mm. It will be presented in a circle which will be made of 50 percent silver, 40 percent copper, 5 percent nickel and 5 percent zinc. Its weight will be 35 grams and Satyamev Jayat will be written on it. India will be written in English and Hindi on both sides of the Ashoka pillar. The reverse side of the coin will have a picture of a tiger and 50 years of Project Tiger.

MUMBAI: Capital markets regulator Securities and Exchange Board of India (SEBI) has allowed private equity funds to sponsor mutual fund schemes and set up self-sponsored asset management companies (AMCs). Investors can apply for secondary market trading supported by block amounts. That means the facility like ASBA has been approved by SEBI. Of course, for secondary markets brokers and investors like ASBA will be optional. The above important decisions were taken in the board meeting of SEBI held today. SEBI has also allowed upstreaming of client funds to clearing corporations at the end of each day to enhance the security of retail investors' funds held with share brokers and clearing members. These measures are expected to reduce fund-related risk by mandating daily upstreaming of funds from all investors, from stock brokers and clearing members to clearing corporations. Investor funds (ie unused cash collateral) in excess of the exchange margin requirement will now be placed in

New Delhi: Assembly elections are going to be held in many states this year and Lok Sabha elections are also going to be held next year i.e. 2024. Therefore, a major change in the Goods and Services Tax system will be avoided. Experts say the Center and states are not ready for any other reforms, including changes in tax rates, in view of the elections. There is unlikely to be any major change in the GST structure till 2024. One of the reasons for this is that considering the rate, the group of ministers members will be busy with the elections to be held in the states. He said that the Group of Ministers is also likely to be constituted afresh. Both the Center and the states are not in favor of frequent changes in tax rates amid inflation uncertainty. He said that this step should be taken only after extensive deliberation. A group of ministers headed by Karnataka Chief Minister Basavaraj Bomai has been tasked with revising tax rates, simplifying slabs and revising the exemption lis

Ahmedabad: The global economy, which has overcome many tough challenges due to the corona epidemic, has been dealt a big blow by inflation and the Russia-Ukraine war, which has fueled it, and now the American banking crisis. However, investment guru Jim Rogers has predicted that the current crisis has taken a more severe form in the future. Rogers feels that the current global turmoil in the banking sector is far from over and could slowly turn into a bigger crisis than 2008. He said that debt levels across the world have skyrocketed, due to which the situation could become dire. In an interview, he also pointed to the issue of inflation and warned that interest rates will go much higher before central banks ease their policy. He cited history as saying that financial crises usually start as isolated events and later escalate into larger crises. He said, 'Whenever you read about financial crises of the past, you see that all these events start from a very small place, with a sma

MUMBAI: Today-Wednesday, the last day for the cash segment in the stock markets for FY 2022-23 and at the end of the March trend in futures and options, foreign funds along with local funds saw extensive buying in many stocks with short covering in stocks. On the international front, amidst the report of the demerger of Alibaba Inc.'s 32 billion dollar business in China, there was a rapid improvement in the Asian markets today, on the back of the recovery in the futures in the European markets and the futures in the American markets, in anticipation of a recovery in the technology sector and the banking turmoil in America, Europe. Funds led by gains in IT-software services, technology stocks, banking-finance, automobile stocks with heavy buying with short covering and attractiveness in capital goods, metal-mining, consumer durables, healthcare stocks. The points were closed at 17080.70. Funds in small, mid cap stocks, high net worth investors bought less. Today - Thursday, March 3

Once again there is an important news regarding UPI payment. NPCI has clarified about the change in UPI rules from April 1. 2000 through UPI Rs. Such news was circulating since morning that there will be a transaction charge on payments above . Regarding this, NPCI has said that the change in the payment system through UPI will not affect the customers. He also said that UPI is a free, fast and secure payment system. Through UPI, more than 8 billion transactions are done every month by consumers and shoppers. Customers need not worry There has been no change in the old payment system No charges will be incurred on transactions made from a bank account to any other bank account The merchant has to pay charges on UPI payments made through prepaid wallets Transactions to P2P and P2PM bank accounts will not incur any charges. Who will pay the charges? UPI payments made through GPay, Paytm and other apps will be charged PPI fee on transactions above ₹2,000 This charge has to be pai

The government has issued an order regarding the change in the UPI rules from April 1. NPCI which administers UPI notified the change in these rules through a circular dated 24 March 2023. According to this notification, if a person transfers an amount of more than Rs 2,000 through a prepaid payment instrument like a mobile wallet, then he will have to pay the interchange fee. Payment instruments like cards and wallets are covered under PPI. So now how much charge have to be paid According to a report, NPCI's circular for Rs. This interchange fee will be charged only on payment transactions above 2,000. This fee is usually Rs. 2,000 will total 1.1 percent of the amount. NPCI has fixed different interchange fees for different regions. The agriculture and telecom sectors will be charged the lowest interchange fees. This charge is payable only to users who pay for merchant transactions. Who does not have to pay this fee? According to the National Payments Corporation circular, no

MUMBAI: Indian stock markets today saw a two-way rout as expected on an index-based basis, with the global markets ending the extravagance as the banking crisis eases in the US and Europe. The Sensex, Nifty based fluctuating moves ended with a modest softening in a number of small, mid cap, cash stocks with continuous fresh gaps. Of course, Foreign Portfolio Investors (FPIs) bought net shares worth Rs.1531 crore from net selling in stocks today. While local funds became net sellers. In the cash segment of the financial year 2022-23 in the stock markets, tomorrow i.e. Wednesday, March 29 is the last day, so the investors, funds, to take stock of the stocks which are suffering losses in the last minute, the erosion in the stocks increased than selling today. Against recovery in banking-finance stocks, IT-software services, technology stocks, automobiles, capital goods, oil-gas stocks were selling. Sensex fell in the range of 57950 to 57494 and finally fell by 40.14 points to 57613.72 an

MUMBAI: The appeal of buying the precious metal as a safe haven is waning following reports of a fast easing of banking conditions globally. Prices are not holding at the highs and are seeing narrow fluctuations. Behind the global market, there was moderate fluctuation in gold and silver at home as well. Against global currencies, the rupee continued to appreciate against the dollar while the rupee remained soft against other currencies. Crude oil prices remained firm on concerns of supply disruptions. At home in the Mumbai market, the price of 99.90 ten grams of gold without GST was Rs 58,965 while the price of 99.50 was Rs 58,661. With GST, the prices were raised by three percent. The price of silver .999 per kg without GST was Rs 69500. With GST, the prices were raised by three percent. In the Mumbai market, both the precious metals saw modest growth compared to Monday. In the Ahmedabad market, gold was quoted at Rs 60,700 per ten gram at 99.90 whereas the price of 99.50 was quot

Mumbai: The cost of vehicle manufacturers is going to increase. Steel companies are pushing for an increase in contract prices after nearly three quarters. But it remains to be seen if automakers pass this increase on to consumers. Most car manufacturers have already announced price hikes, which will be effective from April. Steel accounts for about eight percent of raw material costs in cars and utility vehicles, seven percent in two-wheelers and nine percent in commercial vehicles. Steel majors Tata Steel, JSW Steel and ArcelorMittal Nippon Steel India have started talks with auto sector original equipment manufacturers for the April-June contract amid a rally in steel prices. Negotiations have started soon after the price hike was announced by the vehicle manufacturers. Steel company sources said steel prices rose globally in December 2022, reflecting a higher cost structure. Therefore, the contract price of vehicles will directly increase. Negotiations for contracts have starte

NEW DELHI: Companies are announcing massive layoffs one after another to curb costs and average layoffs. Layoffs have also begun at global company Walt Disney. According to Walt Disney Chief Executive Bob Iger, the company has decided to lay off 7,000 employees to control costs and create a more streamlined business. The layoffs will affect some of the company's key divisions, such as Disney Entertainment, Disney Parks, Experiences & Products, and Corporate. Retrenchment has started in the company from Monday. According to Iger, information is being sent to all employees who will be laid off in the next four days. Now after this, the second round of lay-offs will take place in the month of April. The second round of layoffs will be bigger than the first. Interestingly, this second phase may be announced before the company's annual meeting of shareholders on April 3. Disney announced 7,000 layoffs in February. The company has taken this decision to save 550 million dolla

An exercise to challenge NSE in derivatives trading MUMBAI: Bombay Stock Exchange-BSE has decided to make the last day of expiry-trend on Friday instead of Thursday in order to boost its derivatives trading and encourage more traders to trade in this segment and compete with rival NSE to boost trading in Sensex, Bankex indices. Which will be applicable for weekly, monthly and long term contracts. While the National Stock Exchange (NSE) remains the leader in derivatives trading, there have been various attempts by BSE to increase the trading volume in its derivatives segment from time to time considering the relative disincentives for traders to operate in the BSE derivatives segment. As part of this, BSE has decided to change the expiry date for its monthly, weekly and long-term futures and options contracts from Thursday to Friday from May 15, 2023 this year. If Friday falls on a trading holiday, the expiry day will be the previous day instead of Friday. Meanwhile, the lot size o

image : Twitter Air India Express and AirAsia India Airlines have launched an integrated reservation system. With this, passengers can now book tickets for both airlines using a single website. Both these airlines are going to merge. A big step towards merger Air India Group has announced a single, integrated reservation system and website as it moves towards the merger of its two low-cost subsidiary airlines Air India Express and AirAsia India. The system comes three months after bringing both Air Asia India and Air India Express under the same CEO.

MUMBAI: Low sugarcane availability in Maharashtra has forced mills to shut down crushing operations early, resulting in sugar production in Maharashtra expected to be 16 per cent lower than earlier estimates, government sources said. Maharashtra is a major sugar producing state in the country. The decline in sugar production has reduced the possibility of further export of sugar from the country. India is a major exporter of sugar in the world market. Due to decrease in exports from India, sugar prices are being supported in the world market and other sugar exporting countries Brazil and Thailand are getting an opportunity to increase exports. 35 percent of the sugar produced in the country is produced in Maharashtra. The state's sugar production is expected to be around 1.07 crore tonnes in the current sugar season, which began from October 2022, as against the earlier estimate of 1.28 crore tonnes. Mills are closing fast. Most of the mills will be closed by the end of the cu

Mumbai: The March trend in futures and options (F&O) ended on Wednesday in the current week and the financial year 2023 is about to end today, as funds, investors started a massive exercise of booking losses in book stocks in the last few days, wide gaps were created in small, mid cap stocks. Against this, funds in frontline, index-based stocks led by Reliance Industries made selective purchases in FMCG, pharmaceuticals, metal-mining, banking stocks and other frontline stocks attracted initially Sensex, Nifty-based markets were bullish. The Sensex initially rose 492.45 points to touch 58019.55. But the Sensex ended near 57560, with banking-finance stocks and automobile stocks selling off on heightened caution as reports of a crisis at German giant Deutsche Bank followed by Credit Suisse in Europe, followed by reports of US Silicon Valley bank Lono buying First Citizen Bank. Which finally increased by 126.76 points to close at 57653.86. While the Nifty spot also rose by 105.30 poin

MUMBAI: The government has directed public sector banks to closely monitor large corporate loan accounts and submit a plan to address business risks. Banks will have to provide this plan within two weeks, banking circles said. Banks in the country have suffered huge losses in the past on loans given to debt-ridden companies filed under the Bankruptcy Act. Banks have been instructed to make provision against pledged shares of companies along with compilation of market data and keep an eye on the overall exposure of such companies. So that timely action can be taken in case the company becomes weak. Bankers have been told that it would be feasible to increase the stress test on large corporate loan accounts, sources said. It has also been asked to prepare a plan to meet the risks associated with banking business. Banks have also been instructed to monitor the mark-to-market impact on the trading books of the increase in interest rates and to maintain liquidity ratios. Sources added

Mumbai: Rating agency S&P Global Ratings has kept India's economic growth forecast unchanged at 6 percent for the next financial year starting April 1. The agency expects it to increase to 6.9 percent in the next financial years 2024-25 and 2025-26. In its quarterly economic data update for Asia-Pacific, S&P said the inflation rate will ease from 6.8 percent in the current fiscal year to five percent in 2023-24. At the same time, India's gross domestic product (GDP) is expected to grow at seven per cent in the current financial year (2022-23) but will decline to six per cent in 2023-24. India's average growth rate will be seven percent in 2024-2026. Subsequently, GDP is projected to grow at 6.9 per cent in 2024-25 and 2025-26, 7.1 per cent for 2026-27. The rating agency said, 'India's economy has traditionally been driven by domestic demand. However, it has since become more sensitive to the global cycle, partly due to increased exports. In October-Decem

MUMBAI: Both precious metals softened domestically as global gold and silver traded lower on the first day of the week as a result of efforts by authorities to defuse the banking crisis. Crude oil prices were supported by rising crude oil imports from China. In the currency market, there was a mixed movement of the rupee against the major currencies In the global market, gold fell by $25 per ounce to $1952, while silver also fell below $23 and was trading at $22.98 per ounce late in the evening. There is no purchase of gold above 2000 dollars in the world market. At home in the Mumbai market, the price of gold without GST was Rs 99.90 per ten gram, falling within Rs 59,000 and closing at Rs 58,892. Gold lost Rs 761 from last week's official closing price on Friday. 99.50 was closed at Rs 58657. Silver also softened behind gold. The price of one kg of silver without GST was Rs 69369. Compared to the previous official close, silver fell by Rs 387. In the Ahmedabad market, the pri

Mumbai: With global markets engulfed by the banking crisis of America and European countries, a crisis of confidence has arisen in the stock markets. As a result, the sentiment in the Indian stock markets has also collapsed. Foreign Portfolio Investors (FPIs), FIIs continued heavy selling in the Indian stock markets with many stocks falling to fresh 52-week lows. As the crisis of confidence among investors continues to increase the selling pressure, now India's market capitalization-investors' assets, i.e. the aggregate market capitalization of the companies listed in BSE, has decreased today for the first time in the last 9 months to the level of three lakh crore dollars. The month of March has seen continued softness in global markets with the banking crisis. There are three days left for the financial year 2023. Investors are starting to suffer losses as prices fall in many stocks. Domestic Institutional Investors (DIIs) have continued to be net buyers of stocks against t

Mumbai: There is a possibility of stopping the interest rate hike in the meeting of the Reserve Bank of India's Monetary Policy Committee (MPC) in April. The interest rate has been increased by two and a half percent since May last year. The current rate of 6.50 percent is the highest since February 2019. A report by SBI Research has said that the Reserve Bank is now expected to get an estimate of how the increase in interest rates so far has affected the economy, so it is more likely that it will maintain the repo rate even though inflation is above 6 percent. A slowdown in loan disbursements for affordable homes and the banking crisis in the US and Europe may also stabilize interest rates. Raising interest rates weakens demand, which automatically brings down inflation. In early 2020, the repo rate was reduced to 4 percent during the Corona period. The accommodation trend will continue to pull back in the first meeting of the MPC of the next financial year starting on April

The constitutional provision of freedom of speech and liberty are fundamental and inalienable foundations of democracy. The displeasure shown by the Supreme Court provides an example of the pathetic state of the law Minister of Law and Justice Department Mr. Shri. Kiran Rijiju doesn't go away. As a citizen and practicing advocate, I would prefer to accept his claim. I was also pleased to hear him reiterate this claim at a TV conference. In the meantime, he made a scathing statement which I am transcribing here verbatim. "I think this is the most important topic for me, for the country. There is a systematic attempt to weaken the judiciary of India. That is why they are often alleging that the government wants to take over the Indian judiciary. In a way this is a conspiracy. Anti-Indian elements inside and outside India also use similar language. We will not allow this piecemeal gang to destroy India's credibility and sovereignty.'' "Recently a seminar wa

Talk about the market Business-tourist visa holders also get jobs in America People who went to America on a business or tourist visa can now apply for a job in America. The US offers both these visas under the B-1 and B-2 categories. B-1 visa is issued for short term business trip and B-2 for tourism. As announced by the US Citizenship and Immigration Services (USCIS), a person visiting the US on a business and tourist visa will be able to apply and interview for a new job. If they are selected for the job, they will have to get their visa category properly changed before starting the new job. Due to this rule, Indians will benefit a lot. People going to America to meet their relatives or for business purposes will get a chance to get a job and settle in America. - Actress Keerthi distributed 130 gold coins on the sets South famous actress Keet Suresh became golden girl. The trailer of Keerthy's 'Dasara' has been released and everyone is appreciating it. Predictions

- Atapata of Arthakarana-Dhawal Mehta - As inflation increases, people's savings decrease, which affects economic growth The rate of inflation in India is unlikely to go below 6 percent. The Reserve Bank is mandated by the government to keep the inflation rate within four percent plus two or less or two i.e. 2 to 6 percent. In America, the target of the Federal Reserve Bank (Central Bank) is that the inflation rate should not exceed 2 percent, while the inflation rate in India is not fixed at any figure but it should be in the range of 2 to 6 percent. India's retail market inflation rate was 6.52 percent in January 2023 as against 6.44 percent in February. It has come down slightly but not below 6 percent. A high rate of inflation is a kind of robber or thief. It reduces people's purchasing power without asking you. Today, the price of coconut oil is around 200 rupees per liter. It shows how much the high rate of inflation reduces the purchasing power of people's inc

- Chart Indication - Ashok Trivedi The BSE index (close 57521.10 on 24-03-23) is bearish with a rise to 60498.48. Currently, the 12-day average is 58337.64, the 48-day average is 58513.70, and the 200-day average is 59119.77. Daily and weekly MACD are bearish. It shows the positions towards overbought on daily basis, oversold on weekly basis and oversold on monthly basis. Above 57935, 58205, 58419 are important resistance levels. A low of 57084 to 56610, 56147 is possible. AU Small Finance Bank (closing price Rs.559.90 on 24-03-23) is bearish from a top of 694.70. Currently, the 12-day average is 588.92, the 48-day average is 610.94, and the 200-day average is 620.58. Daily and weekly MACD are bearish. Shows positions towards oversold on daily, weekly as well as monthly basis. Above 576 above 584, 591 are resistance levels. A low of 548 is possible down to 538, 522, 491. Investors should stay away. HDFC (closing price Rs.2559.90 on 24-03-23) is bearish from a top of 2696.80. Curren

- Volatility of equity market and decline in attractiveness of bank FD rate rising funds The lackluster performance of the equity market over the past one and a half years has proved challenging for the spread of mutual funds. In the first 11 months of the current financial year, the industry added only 3.7 lakh new investors, while in FY22, about 1 crore new investors were added. This information is derived from industry data. Mutual funds identify new investors through their PAN account. Investment in mutual fund through new pan is treated as addition of new investor. According to mutual funds, poor short-term performance of equity schemes has led to less inflow of new investors. When investing in any asset class, an investor looks at past returns. An analysis of the past one-year performance of equity mutual fund schemes shows that nearly half of the schemes are in the red and only 20 per cent have returned more than 5 per cent. This is mainly due to market conditions. After rec