Market and Business News

- Difficulty in maintaining the food subsidy bill as estimated in the face of rising prices MUMBAI: Ahead of the Lok Sabha elections, the Union Cabinet's decision to extend the Pradhan Mantri Garib Kalyan Anna Yojana, under which 80 crore people in the country are getting the benefit of free food grains for another five years, is estimated to put an additional burden of Rs 2.40 lakh crore on the government's exchequer annually. . However, it becomes difficult to maintain the subsidy bill as per the budget estimate in case of rising price of foodgrains. Due to this decision, which will be implemented from the new year, the government will have to spend 11.80 trillion rupees in the next five years. But the possibility of this increase is not ruled out. After extending the scheme several times during the Corona period, it was supposed to expire at the end of the current calendar year. In the current financial year, a total expenditure of Rs 1.97 trillion has been estimated for...

Global dollar index rises from three-month low in the world market: fear of rising inflation as rupee falls (Gujarat News Bureau) MUMBAI: The rupee touched a new low in the closing price as the dollar edged higher against the rupee at the Mumbai currency market today. After opening at Rs.83.31 this morning at Rs.80.33, the dollar closed at a low of Rs.83.29 and closed at a high of Rs.83.40 at the top of Rs.83.39. Globally, the rupee's performance against various Asian currencies was seen as the worst. Despite the stock market rally, the rupee weakened. The rise in crude oil prices in the world market had an adverse effect on the rupee. However, due to the so-called advice of the Reserve Bank, some state-owned banks went out to sell dollars today and the decline in the rupee was limited to that extent. Meanwhile, market experts were showing the fear that as the rupee depreciates, the import cost of various items imported into the country will increase and inflation will increas...

Mumbai Court Rejects Mehul Choksi Plea: A special court in Mumbai has rejected Mehul Choksi's plea against the Enforcement Directorate's plea to declare him a fugitive. The court was told by the Indian government that he is absconding and hiding in Antigua due to the investigation into the Rs 13 thousand crore PNB scam. The court was hearing a plea filed by ICICI Bank seeking permission to take possession of two properties seized by the Enforcement Directorate during the PNB scam probe. The value of these properties has been estimated at Rs 636 crore. Argument of Mehul Choksi's counsel Choksi's lawyer Vijay Aggarwal argued that a flat in Gokul building in Raigad district belongs to Mehul Choksi and since he is the owner of the property, the court cannot restore the property to the bank without hearing him. However, ICICI Bank opposed Mehul Choksi's intervention in the matter. What did the court say? After hearing the arguments of both the parties, the judge sai...

Who is Vijaypat Singhania? Raymond, a company that has made a name for itself in the country and abroad based on 'The Complete Man' to 'Feels Like Heaven', is again in discussion today. Raymond's founder Vijaypat Singhania, who built a small factory selling blankets into a brand like Raymond, lives in a rented house today. At one time he had more wealth than Ambani. Vijaypat Singhania, who once owned assets worth 12,000 crores, has made the biggest mistake by handing over all his assets to his son. A brand like Raymond made a factory selling blankets Raymond started his journey from Mumbai a hundred years ago. In the year 1900, there was a woolen mill in Thane, Maharashtra, where blankets were made. Later, uniforms for army personnel started to be prepared there. In the year 1925, a businessman from Mumbai bought the mill, but a few years later in the year 1940, Kailashpat Singhania bought the mill from him. He changed the name of the mill from Wadia Mill to Ray...

- Increase in cashless transactions but - Steady increase in share of large currency notes in currency in circulation Mumbai: Even though more and more people are turning to digital payments in the country for buying and selling transactions, there is also an increase in Currency in Circulation (CIC). As a result of the tendency to keep cash in hand, especially to hoard high value currency notes, the share of high value currency notes in CIC is also high, according to a Reserve Bank report. Digital payments are replacing cash transactions but the sentiment to hold cash still hasn't gone from the people of the country. CIC is witnessing growth due to increase in demand for high value notes. Circulation of high value notes increased significantly during Corona period. According to the Reserve Bank report, there was an increase of 19.40 percent in circulation of high value notes in 2020-21 and this increase was 11.30 percent in 2021-22. Compared to this, the share of low value ...

- India's GDP in the second quarter Rs 41.74 lakh crore - In the first quarter of the current financial year, the GDP was 7.8 percent, while in the second quarter of the previous financial year, the GDP was 6.2 percent. - China's GDP in July-September, 2023 only 4.9 percent New Delhi: India's economy has grown at the rate of 7.6 percent in the second quarter of the current financial year i.e. from July to September due to the good performance of the manufacturing, mining and service sectors, according to the figures released by the government. Along with this, India is becoming the fastest growing economy among the world's leading economies, according to the statistics issued by the National Statistical Office (NSO). It is worth mentioning that in the July-September quarter of 2023, China's GDP was 4.9 percent. It may be mentioned that the GDP was 6.2 percent in July-September second quarter of last financial year 2022-23. While in the first quarter of the cur...

1400 was listed at a premium of 140 percent against the issue price of Rs.500 The company joined the list of top seven stocks that recorded huge gains on the listing day (Commercial Representative) MUMBAI: The expected mega listing of shares of Tata Technologies Ltd took place today. After the company issued shares at Rs 500 per share, investors were left in awe of the expected listing today. After being listed at Rs.1200 on the NSE exchange at a premium of 140 percent, the stock rose to a peak of Rs.1400 and finally closed at Rs.1326.70 at a premium of 165.34 percent i.e. Rs.826.70. After being listed on BSE at a price of Rs.1199.95, the stock increased to Rs.1400 and finally closed at Rs.1314.25 with an increase of Rs.814.25 i.e. 162.85 percent. On BSE today, there was a turnover of Rs.375.37 crore in the company's shares in 28.48 lakh shares. While on NSE, there was a turnover of Rs.6114.06 crore in 4,65,79,444 shares. With this, Tata Technologies has joined the list of to...

Boom in crude oil: Rising dollar index in the world market, rising in gold, increased selling of funds (Gujarat News Bureau) MUMBAI: In the Mumbai jewelery market today, gold prices remained on a downward trend as the record rally broke. However, silver rose more. Gold prices in the world market went from high to low. In the Mumbai bullion market today, the price of gold without GST was Rs.62357 at Rs.62378 at 99.50 while the price at Rs.99.90 was at Rs.62725 at Rs.62607 at Rs.62629. Mumbai silver prices were Rs.75,700 per kg without GST today at Rs.75,934. In Mumbai gold-silver prices including GST were three percent higher than this price. Meanwhile, gold prices fell as the dollar index rose in the global market. Global gold prices were 2036 to 2037 dollars an ounce from 2039 to 2040 today, while global silver prices were 24.98 to 24.98 dollars to 24.98 to 24.49 dollars an ounce. Platinum prices were 935 to 939 to 938 dollars an ounce. While the price of palladium was 1018 to 1...

- Market cap 335.60 new high: Small cap, mid cap index at new high - Nifty up 37 points: Consumer, Capital Goods, Auto, Healthcare, Oil stocks up: FPIs/FIIs net buying Rs.8148 crores, DIIs net selling Rs.780 crores (Gujarat News Correspondent) Mumbai: On the mega listing day in the Indian stock markets today, Tata Technologies was listed at a super duper 140 percent premium, Gandhar Oil Refineries was also listed at a premium of more than 80 percent, funds, retail investors benefited from the huge listing in the stocks, the market sentiment was finally bullish. After seeing investment demand of Rs.2.59 lakh crore in five IPOs in the primary market recently, the listing of these stocks also became mega-attractive as investors' appetite increased. In the secondary market today, funds finally closed the bullish market after an initial index-based shock. Funds continued the bullish cycle with short buying in consumer durables, capital goods, healthcare, automobile stocks and selec...

Indian Railways: The price of each par is fixed. It is an offense if a person is selling goods at a price higher than MRP. Passengers often complain that food stalls or food stalls in railway stations or trains sell goods at higher prices than the MRP. In such a situation, if someone is selling goods at a higher price than MRP in the train or at the station, where and how to complain? Action is taken immediately after complaint action. Where to complain? For this, Indian Railways has announced 139 helpline number to solve the problems of the passengers. Apart from this, an app called Rail Help can also be downloaded in the phone. Most of the people think that complaining in government work does not get any quick results. However, this problem of railway helpline number does not remain. There complaints are immediately acted upon. This is something to be considered Certain things should be kept in mind while making a complaint, such as name of the shopkeeper (if written in the uni...

image : Envato Mobile Number Suspended: The government has suspended 70 lakh mobile numbers in a major action. That means the use of this mobile number has been completely stopped from now on. Why did the government take this step? Now the question in your mind must be that why the government took this step? In fact, this step has been taken in view of increasing digital fraud. The suspended mobile numbers included numbers that were linked to some suspicious transactions. In this matter, Financial Services Secretary Vivek Joshi informed that this step has been taken to prevent fraud related to digital payments in the Internet. Information provided by Financial Services Secretary Financial Services Secretary Vivek Joshi informed about this and said that with the increase in digital fraud, banks have also been directed to look into the case. Banks have already been asked to strengthen their processes and systems. Meetings will be held on this issue in the future. Along with that, ...

image : Envato Mobile Number Suspended: The government has suspended 70 lakh mobile numbers in a major action. That means the use of this mobile number has been completely stopped from now on. Why did the government take this step? Now the question in your mind must be that why the government took this step? In fact, this step has been taken in view of increasing digital fraud. The suspended mobile numbers included numbers that were linked to some suspicious transactions. In this matter, Financial Services Secretary Vivek Joshi informed that this step has been taken to prevent fraud related to digital payments in the Internet. Information provided by Financial Services Secretary Financial Services Secretary Vivek Joshi informed about this and said that with the increase in digital fraud, banks have also been directed to look into the case. Banks have already been asked to strengthen their processes and systems. Meetings will be held on this issue in the future. Along with that, ...

Share Market: The Indian stock market has achieved a new milestone. BSE's market capitalization hit its all-time high yesterday. This surface was seen increasing rapidly and has reached 4.1 trillion dollars i.e. 330 lakh crores. If we look at this figure, it is more than the GDP of India. Indian stock market Sensex became number five in the world With a cap of more than 4 trillion dollars, the Indian stock market has become the number five Sensex in the world. The stock markets of America, China, Japan and Hong Kong occupy the first four numbers respectively. In the last two years, the Indian stock market has been moving rapidly and has reached a new milestone in a short span of time. the country Market value America 48 trillion dollars China 10.7 trillion dollars Japan 5.5 trillion dollars Hong Kong 4.7 trillion dollars India 4.1 trillion dollars 33 times increase in market value of BSE in 20 years BSE's market value has seen a 33-fold increase in the last 20 ...

1 December Rule Changes: Every month some rules are changed in the country. Changes may be seen in banking, telecom, technology and other sectors before the end of the year. Many new rules related to SIM cards, HDFC credit cards, gas cylinders will come into effect from December 1, 2023. In such a situation, it is important for you to know the new rules that will be applicable from December. Let's know what effect these new rules can have on common people? New SIM card rules A new SIM card rule by the central government from December 1 deals with the purchase and sale of SIM cards. According to the Department of Telecommunications, SIM cards can no longer be purchased without KYC. Apart from this, the rule of selling limited SIM cards on one ID will also be implemented. Violators may be fined up to Rs 10 lakh and imprisoned. Under these new rules, SIM card sellers will have to register and go through the KYC process under the system. HDFC Bank Credit Card Under the new rules,...

- Market cap of global stock markets crosses $106 trillion - So far in the current calendar year, India's stock market has increased by 15 percent, while China's has decreased by 5 percent. MUMBAI: Indian stock markets have crossed the historic four trillion dollar market capitalization milestone for the first time today with a universal stormy boom in stocks. Currently, there are only three countries in the club of more than four trillion dollars i.e. Rs.333.29 lakh crore market cap. BSE Sensex gained 727.71 points to close at 66901.91 while NSE Nifty rose 206.90 points to close at 20,096.60. Which includes America, China and Japan. Hong Kong is also included in this club, although the major contribution is mainly from Chinese companies elsewhere. Investors had to wait for 16 years to reach $1 trillion to $4 trillion. A trillion dollar market cap of BSE listed stocks was seen in May 2007. A broad rally in stocks today crossed the record of combined market capitalization o...

New Delhi: Exports of engineering products from India to countries like America, Saudi Arabia, United Arab Emirates have increased in October. However, government data revealed a decline in exports to the European Union, China and South-East Asian countries. After a slowdown during the first half of the year, India's engineering products exports registered a positive growth of 7.2 percent for the third consecutive month in October. While in the first seven months of the current financial year, the export growth of such products has registered a decrease of 1.6 percent. ImB India said the decline in demand in developed countries, particularly in the European Union, has created problems for Indian metal exporters. The situation has worsened due to barriers imposed on Indian exporters by European Union and North American countries. Engineering exports to the US were valued at $1.39 billion in October, up 2.2 percent from last year. While the shipment in Enchai has increased by 2...

Mumbai: After fixing the minimum export price of onion, there has been a gap of approximately 85 percent in its export in the country in the first three weeks of the current month. In August, the government also imposed forty percent export duty on onions. The minimum export price of onion has been fixed at $800 per ton. According to the received statistics, onion export decreased by 48 percent year-on-year in September, while it decreased by 11.80 percent in October. In the first three weeks of the current month, exports have decreased by 85 percent to 19,347 tonnes, government sources said. Export price fixation is believed to be the reason for such a large drop in exports in November. To control the price of onion at home, the government has decided to impose forty percent duty in addition to the minimum export price as part of controlling its export. Indian onions are mostly exported to places like Nepal, Bangladesh, UAE. After the implementation of export duty, the farmers st...

MUMBAI: With the finalization of bilateral talks between bank employees' unions and the Indian Banks' Association (IBA), a five-day working week is likely to be implemented from mid-December or from the new year of 2024, along with an 18-20 per cent increase in salary for bank employees. The announcement of the five-day week will have to come with the announcement of the wage hike or soon after the announcement of the wage hike, IBA sources said. The existing wage contracts with the country's public sector bank employees are set to expire in November, 2022. Discussions have been going on between IBA and bank employee associations for the past one year. Apart from the wage hike, the five-day week norm is also to be implemented in regional rural banks. In July, 2020, a 15 percent increase in salary was implemented for 8.50 lakh bank employees. In the five-day week standard, banks will work five days a week and will be closed on Saturdays and Sundays. However, the daily wo...

Mumbai: On the global front, with economic uncertainty still continuing in China and the situation in the property sector becoming fluid, the market took a U-turn in the last hour after the initial sluggishness in the Indian stock markets today against a mixed trend in the global markets amid overall soft conditions despite the stimulus measures. In the last hour, the market fell on the path of rapid recovery as funds bought big in automobile stocks led by Tata Motors, Mahindra & Mahindra and in finance stocks led by Bajaj Twins Bajaj Finance, Bajaj Finserv along with index stocks Bharti Airtel, Ultratech Cement, NTPC, Titan Company. There was talk of foreign funds buying heavily in PSU companies and power stocks today. Along with this, oil-gas stocks also rose. The Sensex, after touching a low of 65906.65 in initial narrow swing, rose to a high of 66256.20 and finally rose 204.16 points to close at 66174.20. While the Nifty spot after falling to 19800 in the beginning, recovered ...

Mumbai: Gold and silver prices were mixed in the Mumbai jewelery market today. Gold prices remained flat while silver remained firm. In the global market, however, there was news of gold prices rising again, while the domestic currency market was showing a slow decline in dollar prices against the rupee today. Gold prices in the world market were 2018 to 2015 to 2016 dollars per ounce in 2012 to 2013 high. Globally, there were indications of increased buying of funds in gold in the world market amid retreat in the dollar index and bond yields. The global dollar index fell to a 3-month low. In the Ahmedabad jewelery market today, gold prices fell by Rs.200 per 10 grams to Rs.63,600 from Rs.99.90 to Rs.63,800 per 10 grams, while Ahmedabad silver prices fell by Rs.500 per kg to Rs.75,000. The price of silver in the world market was 24.54 to 24.66 to 24.67 dollars per ounce from a low of 24.76 per ounce. Meanwhile, in the Mumbai currency market today, the dollar price against the rupee...

MUMBAI: Retail sales of automobiles during the current year's festive season are the highest ever and are 19 percent higher than last year. During the 42-day festive season that began on the first day of Navratri and ended fifteen days after Dhanteras, auto retail sales stood at 37.93 lakh vehicles as against 31.95 lakh vehicles in the same period last year, according to data from the Federation of Automobile Dealers Associations (FADA). is Three wheelers saw the highest sales growth at 41 percent. Sales of two-wheelers have increased by 21 percent, sales of commercial vehicles by 8 percent, and sales of off-road vehicles by 10 percent. However, sales of tractors used in the agricultural sector saw a decline of half a percent. The demand for two wheelers has seen a significant increase from rural areas. The figures also show that after weak demand during Navratri, sales of Utaru vehicles increased by 10 percent with significant demand during Diwali. The sales of tractors also ...

- Chart Indication - Ashok Trivedi The BSE index (close 65070.04 on 24-11-23) is bullish from a low of 63092.98. Currently, the 12-day average is 65559.75, the 48-day average is 65364.84, and the 200-day average is 63699.34. Above 66235, 66358 then 66570, 66880, 66910, 67250, 67590, 67927 are possible. A low of 65547, down to 64853, 64535 is possible. The effect of the results of assembly elections will also be visible. Aarti Industries (closing price Rs.531.45 on 24-11-23) is bullish from a bottom of 438. Currently, the 12-day average is 515.51, the 48-day average is 495.73, and the 200-day average is 519.54. 535 above 545 and 570 in Ur, 581, 616, 656 possible. A close of 535 points on a monthly basis will go into a long-term bullish trend. Below 520 below 515 is considered support. Indiabull Real (closing price Rs.81.90 on 24-11-23) is in favor of correction from the bottom of 69. Currently, the 12-day average is 80.86, the 48-day average is 78.33, and the 200-day average is 73.4...

- The biggest problem with the concentration of wealth and income is that it will be difficult to maintain high economic growth if demand remains weak Instead, the concentration of wealth and increasing inequality can affect economic growth. This can continue even when the country shows strong economic growth. Statistics show that inequality has increased in the post-pandemic recovery process. Given the weak improvement in demand at lower income levels, declining wages and the overall employment situation, the economic recovery appears uneven. Data from the National Statistical Office, the Reserve Bank of India and other sources show that rural India is still facing tough times while a section of corporate and urban India is faring better. Data from the Statistics Office shows that between January 2022 and October 2023, rural retail inflation was higher than urban in 18 out of 22 months. Persistently high inflation, mostly due to food prices, monsoon and low production could weigh h...

- Boolean Bits - Dinesh Parekh - Firmness seen in global silver prices Against the black market, investors have started quoting the price of gold at $2,000 per ounce as the Fed meeting has begun and the dollar has softened. But gold softened and fell between $1991/1995 an ounce, supported by a four-day ceasefire between Israel and Hamas. In this, central banks are sidelining gold in favor of increasing reserves while considering its stability and liquidity as more important, ignoring its returns. Central banks are increasing investment in US government bonds. Analysts say surveying why the bullish rally in the precious metal took place at this stage, rather than talking about US debt. How the 2021/2025 world battle days play out and many countries in no mood to destabilize the dollar support the bullish gold. Gold retreats to $2,000 an ounce for the first time since July. It has to be noted that despite the UK ban, Russian gold is sold in the international market and the gold goes ...

- Increase in unsecured loans due to credit competition among financial institutions As a precautionary measure, the Reserve Bank of India (RBI) has increased the risk weight in consumer credit from 100 percent to 125 percent for both banks and non-banking financial companies (NBFCs). However, this standard has not been applied to housing, education, vehicle and gold loans. In an October policy statement, RBI Governor Shaktikanta Das also expressed concern over rising unsecured loans and directed banks and NBFCs to tighten their internal controls. In case of any stress on unsecured loans, banks ultimately bear the brunt, as there is no collateral against these loans, making it difficult for banks to recover money from borrowers. After a long period, the performance of the country's banking sector is currently looking encouraging. Banks' profits have increased after a long time and the proportion of NPAs or bad loans on the books has come down. Increase in net profit is seen...

- Bhoo Bazar : Dilip Shah - Increase in iron ore and coal prices increases cost of steel production: Exports of iron ore increased due to relaxation in export duty. Iron and Steel – The iron and steel market and industry, both domestically and abroad, have recently seen a rapid reversal of tides. As the rains have departed from the country, the second round of construction activity has begun this year and due to this, demand and activity in the iron and steel market and industry have resumed. Domestic steel producers hiked prices in October ahead of Diwali. On this side, in the context of the elections in various states and the upcoming Lok Sabha elections, there have been indications of increased spending by the governments in the infrastructure sector. Due to this, there was an increase in the demand towards the infrastructure sector in the steel and iron market. As the prices of raw materials used to make steel also went up, there were indications that the production cost of stee...

AI requires a regulatory model like SEBI India will develop standards to regulate artificial intelligence and act like AI regulator SEBI, said Sanjeev Sanyal, a member of the Prime Minister's Economic Advisory Council. Stating that the model of self-regulation and bureaucratic regulation is unlikely to work in the artificial intelligence space, he suggested that India could consider having a regulator, which understands the technology and looks at how it is evolving. An artificial intelligence system requires a system like SEBI. You need a regulator who understands the technology and pays attention to how it is evolving, rather than wasting time predicting where it will go. As a company has a board, which is responsible. Just as business models and accounts need to be understood, there is also a need to explain what artificial intelligence is doing. 2 billion square feet of additional healthcare real estate needed India needs 2 billion square feet of healthcare space to cater t...

- Need to think beyond import controls and fiscal incentives at the policy level Government intervention does not always produce the desired results. For example, the central government announced in August that it would place seven products in the IT hardware sector on the restricted list. The scheme was postponed till October 30 and the government clarified its position but the market felt the potential uncertainty. At least in the short term, he understood this and increased imports. As a result, imports of computers, laptops and related products rose 42 percent to $715 million in September. The central government is constantly trying to reduce import dependence on China. This is being done partly for wider geopolitical reasons. This policy was also viewed in the same context. Another reason for banning imports is to boost domestic production and IT hardware is part of the government's Production Linked Incentive (PLI) scheme. The government recently modified the PLI scheme fo...

There have been many controversies since Australia won the World Cup but it has directly benefited fantasy sports. India may have lost but it can be said that the platform of fantasy sports has won. Disney and Hotstar streaming reached 5.7 crore viewers. The fantasy sports platform has become more popular during the Cricket World Cup. Millions of people play fantasy games online. Controversy has arisen after the government imposed GST on online games. Fantasy sports people have become addicted. 14 Top Earning Online Gaming Platforms in India Target of six lakh new vehicles The sales of Hyundai cars like Creta, Venue, Nios, Exeter have increased during 2023. From January to October 2023, Hyundai has sold five lakh nine thousand vehicles at the local level. For the first time, Hyundai set a target of selling six lakh cars in 2023. However, there is still one month left. Knowing the way people are stuck in the craze of releasing new cars, it seems that the target of selling six lakh ca...

- Supporting growth through strong economic activity at home Mumbai: S&P Global has raised India's economic growth forecast for the current financial year to 6.40 percent. Which was previously set at 6 percent. The estimate for FY2025 has been reduced by 50 basis points to 6.40 percent. As a result of strong economic activity at home, the negative effects of high inflation and weak exports have been mitigated, India's economic growth forecast for the current financial year has been raised to 6.40 per cent from 6 per cent, S&P said in a report. Considering the impact of weak global growth and high interest rates in the last six months of the current financial year, the estimate for the next financial year i.e. financial year 2025 has been reduced from 6.90 percent to 6.40 percent. The GDP estimate for FY 2026 has been maintained at 6.90 percent. India's inflation is expected to be 5.50 percent in the current financial year i.e. financial year 2024, which is mode...

- Indications that China has bought 17 to 18 tons of gold - Global dollar index fell to 104, hitting a three-month low, as funds bought gold in global markets Mumbai: Due to the decrease in the global index of the dollar against various major currencies and the yield of US bonds, there were indications of increased buying of funds in gold in the world market. Behind these reports was a bullish trend in domestic bullion markets. Here in the Ahmedabad gold-silver market, gold rose to Rs.64,000, while silver rose to Rs.75,000. As the import cost at home increased due to the rise in the world market, the bullish trend continued in the jewelry markets of the country today. The bullion market was officially closed at the Mumbai jewelery market today, but gold and silver rallied ahead of the global market during the closed market. The price of gold in the world market rose from 2000 to 2001 per ounce to the highest price in 2018 to 2012 to 2013 dollars. Behind gold, global silver prices ...

- A situation has arisen where some of the so-called top startups have to be jailed... - Baiju Ravindran of Byjus, Ashneer Grover of Bharat Pay, CEO of Zilingo Ankiti Bose are stuck: Behind them are the investigating officers: They knew where the money came from but did not know where it went.. - Some startups seem to have changed the definition of foreign direct investment. As soon as the Enforcement Directorate caught the ear, the scams started coming out... While India's startups are proud, they are also surrounded by controversies. A situation has arisen where some of the so-called top startups have to be considered jail bars. Some have misused the funds and some have had differences with investors. A foreign exchange case has been filed against Byju Ravindran of education-related startup Byjus, while scams have been found in the accounts of Bharat Pay's Ashneer Grover. Zelingo CEO Ankiti Bose was ousted due to financial irregularities. Social commerce startup Trail wa...