Market and Business News

Mumbai: Bank lending grew by 15.07 per cent year-on-year in the fortnight ended September 8, while deposits grew by 12.80 per cent, driven by strong festive demand. According to the figures of the Reserve Bank, the number of outstanding loans of the banking sector was Rs 150.38 trillion at the end of September 8. This figure comes after covering the impact of HDFC's merger with HDFC Bank. If the number of mergers is excluded, the overall number of outstanding loans has been Rs 144.43 trillion. At the end of the fortnight of August 25, the number of outstanding loans stood at Rs 143.15 trillion, said the data. During the period of September to December, there is an increase in credit demand as a result of various festivals. Deposits grew by 12.80 percent to Rs 192.39 trillion in the fortnight ended September 8. At the end of August 25, the deposit figure was 190.89 trillion rupees. Banks are facing liquidity problems as deposit growth lags behind credit growth. Credit growth in

Image Twitter Dt. 23 September 2023, Saturday You need to have a PAN card for all such financial activities like opening a bank account or buying a property. Like Aadhar Card, you have a PAN card as proof of your identity. And in this way if this document gets lost or broken then there is no need to panic or rush to any office for it. You can get it at home in just 10 minutes. Its process is also very easy and you don't need to spend even a single rupee for it. Offline process takes long time In case of loss or breakage of PAN Card, the Income Tax Department has provided the facility to generate e-PAN. For that you can prepare e-PAN with the help of Aadhaar card in just 10 minutes. Actually the offline process of PAN card generation from the department takes a long time. In which people can get relief from this facility. Generally, it takes about two weeks for the offline PAN card application process including application, verification and other processes. This is how E-PAN s

Mumbai: JPMorgan Chase & Co. has decided to include Indian government bonds in its benchmark government bond emerging-market index from June 2024. The inclusion of Indian bonds is estimated to spur foreign investment flow of billions of dollars into the country's debt market. The primary estimate of which is currently being put up to 30 billion dollars. The index provider will begin inclusion of Indian securities in the JPMorgan Government Bond Index-Emerging Markets from June 28, 2004. These Indian government bonds will be included at the rate of one per cent per month for 10 months till March 31, 2025. Currently, 23 Indian government bonds with a combined notional value of $330 billion are eligible for inclusion in this index. Indian bonds will be included on the basis of one per cent per month. A statement said that the maximum weightage of India in this index will be 10 percent. JP Morgan's decision comes in the wake of the Indian government's introduction of ful

Mumbai: The decision to ban the import of electronic equipment like laptops, tablets, servers, etc., seems to be shelved by the government for the time being. Large global manufacturers of electronic goods are believed to benefit if the license requirement is dropped. Instead of imposing an import ban, the government is considering to control the import of these products. At present, the government has decided not to impose any regulation on the import of these products, said government sources. Earlier, the importers had to get registered on the Import Management System from November 1, when the licensing system was to come into effect. In a meeting held on Thursday between the government and the stakeholders of the electronic industry, industry sources said that the government has signaled to postpone the import control. After six to eight months, the import authorization mechanism will be implemented which will be used to allocate quota to importers of electronic equipment lik

Mumbai: 43 percent of India's total exports to Europe may be at risk due to the proposed Carbon Border Adjustment Mechanism (CBAM) of the European Union. Europe intends to implement CBAM and other initiatives as part of the anti-pollution campaign. After America, Europe is India's main export market. According to a report by the Center for Energy, Environment and Water, some of India's businesses are at risk due to proposed European regulations. Sectors where trade may be at risk include textiles, chemicals, consumer electronics, plastics, etc. In 2022, 32 per cent of India's total exports to Europe were from the products of the mentioned sectors. A total of $37 billion worth of exports across all sectors could be at risk from the implementation of the mechanism, which is 43 percent of Europe's total exports in 2022. A number of non-tariff measures are being implemented by developed countries to address the challenges of environment and climate change. India has

MUMBAI: The inclusion of Indian bonds in JPMorgan's benchmark emerging market index is expected to boost investor sentiment and strengthen the Indian rupee. This decision will certainly increase the base of investors investing in Indian government bonds. JP Morgan has announced the inclusion of Indian government bonds or government securities in its benchmark emerging market index from June 2024. Due to this, the borrowing cost of the government is likely to decrease, said government sources. There is no need to assume that inclusion in the index will lead to volatility in the currency market, Chief Economic Adviser V Ananth Nageswaran said while speaking to reporters. The inclusion of bonds in the index is also likely to strengthen the Indian rupee. Long-term investors in government securities will benefit from this. He opined that due to this decision, not only the investor level of Indian government bonds will increase, but Indian financial institutions will also get relief

Mumbai: Silver rose today in the Mumbai jewelery market while gold prices were soft. However, as the dollar rose against the rupee, precious metals rose sharply in the Ahmedabad market. Ahmedabad gold prices increased by Rs.400 per 10 grams to Rs.61300 per 99.50 and Rs.61500 per kg at 99.90 while Ahmedabad silver prices increased by Rs.500 to Rs.74000 per kg. After the dollar edged higher against the rupee in official deals today, private prices were seen higher in the late evening. Experts were showing the possibility that the rupee will see a new low in the Mumbai currency market on Tuesday (today). After the market closed late on Monday evening, the price of the dollar in offshore deals increased further to around Rs.83.50 to Rs.83.55. Meanwhile, global gold prices remained soft today as the dollar index and bond yields rose in global markets. The gold prices in the world market today were at the low of 1925 to 1926 from 1920 to 1921 to 1924 to 1925 dollars per ounce. Global silv

China crisis and Germany's negative news caution MUMBAI: Indian stock markets also saw caution at the end of volatility today as global markets softened amid reports of distress in the property sector following Evergrande's re-emergence into crisis in China and other developers running into trouble, as well as German bond yields rising to 2011 highs. Sensex, Nifty based two-way volatility was seen at the end of stability. Profit booking of funds in IT-software services, technology stocks and capital goods heavyweight Larsen & Toubro were the sell-offs. While consumer durables and banking stocks remained the preferred attraction. The Sensex fell in the range of 66225.63 to 65764.03 and finally rose 14.54 points to close at 66023.69. While the Nifty 50 spot index fluctuated between 19734.15 and 19601.55, it closed by 0.30 points at 19674.55. Funds, high net worth investors were buying in mid cap stocks today. IT Index down 253 points: Quick Hill, AxisCADs, Infosys, Wipro,

- The threat of climate change is pushing global ecosystems closer to breaking point The average global temperature recorded in June and July in the year 2023 has broken all previous records. Forest fires are on the rise and now double the forest area is affected by such incidents compared to 20 years ago. Globally, average sea surface temperatures surpassed all previous records recorded in May, June and July. According to the Center for Science and Environment, 314 of the 365 days in 2022 were days when the weather experienced unexpected changes somewhere. From these things, it is clear that the threats related to climate change must be faced urgently and cannot be avoided. Efforts over the past 30 years to eliminate or reduce the risks associated with climate change have not been effective. Between 1990 and 2019, global emissions of environmentally harmful gases (greenhouse gases) increased from 30 billion tons of carbon dioxide equivalent to 48 billion tons of CO2e. Developed coun

9000 crores in the account, the driver was credited Tamil Nadu taxi driver Rajkumar has been charged because of a bank error. Rajkumar was surprised when 9000 crore rupees suddenly appeared in his bank account in Tamil Nadu Mercantile Bank. Rajkumar had transferred Rs 21,000 to a friend's account to ensure that Rs 9,000 crore had actually entered his account. Rajkumar was ecstatic that the transfer was successful, while the bank corrected its mistake and took back the outstanding amount. Now the bank is demanding the balance of 21 thousand rupees. The prince's friend has already used this amount, so the prince is in a bad condition as he makes promises. Mahindra's patriotism, the sitting of a crow and the falling of a branch There is a saying in Gujarati that, the sitting of the paper and the falling of the branch. The same has happened in the case of Mahindra Group and due to a coincidence Anand Mahindra is showered with praise. The thing is that Mahindra & Mahin

Jaya Verma Sinha has been appointed as the first woman Chairperson and CEO of the Railway Board. The appointment of a woman as the chairperson of the Railway Board has been welcomed by corporate circles. Joined the male-dominated Indian Railways traffic in 1988. At that time, the staff of this account had 24-hour duty. During his 35-year career in Railways, he worked in various departments including Information Technology. Finally, when the Odisha (Balasore) railway disaster took place, he made important and useful suggestions regarding railway signals. Participation of antivirus companies Anti-viruses used in computers like Quickheal and SecureWrite etc. are very well known. Cyber ​​security solutions become very important for every user. Such antivirus can protect against cyber attackers. Quick Heal and Seacrite have partnered. Due to which application developers and data engineers will directly benefit. Computer users will especially benefit as more robust defenses can be built a

- Industrial guidance - Dhiru Parekh Sweating is a natural process in the body. Sweat is a mixture of water and some other substances produced by the sweat glands of the skin. Sweat removes dirt and heat from the body. Sweating is everyone's problem. They sweat more during summer days. The more sweat in the body, the better it is said to be for health. But many people sweat because of nervousness. The sweat of these people is extremely stinky. In this way sweat is released from the body to cause bad breath. Then it has no smell at all. But after the sweat stays on the body for a while, bacteria starts to form. Finally it stinks. People use spray perfumes to avoid bad smell. Key ingredients for making roll-on perfumes: Roll-on perfumes can be made using aluminum chlorhydrate, propylene glycol, methyl cellulose, methyl paraben, perfumes and water. which can be sent for sale in round ball fitted bottles. Spray-perfumes: For perfume lovers, these products will be very beautiful. T

- The route of Canada has proved to be very useful in entering the North American market - India is said to mean business, but just when there was a good gap in business with Canada, the business environment has collapsed due to the sourness in the diplomatic relations between the two countries... - The Cold War between India and Canada may hit the import-export business between the two countries as well as the startup business. Canada used to be a great source of venture capital India's global image has improved due to the strained relations with NEDA, but India will face a challenge on the issue of business-related startups. Because India's economy is intertwined with startups. There is a discussion going on in business circles on this important issue of startup. Many people are ready to mediate in the Cold War between India and Canada, but no one is pro-Canada when it comes to supporting terrorists in the dispute. not ready India's trade relations with Canada and

Stock Market Crash: The stock market had a big fall today and heavy selling was seen. The Sensex (sensex) fell by almost 800 points to below 67 thousand. The Sensex touched a day's low of 66,728 points during trading. Apart from this, Nifty also fell by 238 points to a low of 19,895 points. Today Sensex and Nifty were trading down around 1.25. Sensex closed down 796 points and Nifty 231 points Today's major decliners in the stock market, Sensex closed down 796 points while Nifty closed down 231 points. With this, Sensex closed at 66,800 and Nifty at 19,901. The market capitalization of all BSE listed companies fell by Rs 2.95 lakh crore to Rs 320.04 lakh crore. The Indian stock market saw a sell-off due to weak sentiment ahead of the US Federal Reserve meeting today. Domestic benchmark indices opened lower today as US bond yields hit a 16-year high ahead of the results of the US Federal Reserve meeting. Only 7 shares of Sensex remained positive while 40 shares of Nifty dec

New Delhi: The dispute with Canada may affect the supply of pulses in India as India mostly imports lentils from Canada. However, experts say that this crisis can only arise if the dispute with Canada drags on. In the current financial year, the import of lentils from Canada has increased 5 times. Lentil imports from Canada are increasing rapidly this year. According to Commerce Department data, 4.66 lakh tonnes of lentils were imported in the April-July period of the current financial year, which is 339 per cent higher than 1.06 lakh tonnes in the previous corresponding period. Of the 4.66 lakh tonnes of pulses imported till July, 1.90 lakh tonnes of lentils have been imported from Canada. Its share in total lentil import is more than 40 percent. Only 36,807 tonnes of pulses were imported from Canada during the same period of last financial year. Thus, till July of this financial year, lentil imports from Canada have increased more than 5 times. Of the total 8.58 lakh tonnes of l

image : Twitter Akasa Airlines, the airline under the investment of Rakesh JhunJhunwala, known as the late investor and stock market bigbull, is facing a serious crisis. 43 pilots of this private sector airline company have suddenly resigned and the airline itself informed the Delhi High Court. The resignation of these pilots has put the company in crisis and is on the verge of closure. The pilots did not even complete the notice period Representing Akasa Airlines, the lawyer argued that none of the pilots who suddenly resigned from the company, either the first officer or the captain, even complied with the notice period. The notice period for these posts ranges from 6 months to one year respectively. The sudden departure of the pilot forced the airline to cancel 24 flights a day in September, costing the company huge losses. Operates 120 flights daily On behalf of the airline company, we had canceled around 600 flights in August and if pilots continue to leave the airline in th

Mumbai: In less than nine months of the current calendar year, the sales of electric vehicles in the country have crossed one million vehicles. It took a full year to cross this figure in 2022, according to the statistics available on the vehicle dashboard of the Ministry of Road Transport and Highways. The share of electric two wheelers in the total electric vehicles has been 56 percent. As of September 19, a total of 1037011 electric vehicles have been registered at various regional transport offices in the country, which is 6.40 percent of the total sales of vehicles in the country so far this year. In 2023, the total number of vehicles sold so far is 16081652. Government sources said the increase in numbers is due to the growing attraction of individual buyers towards electric vehicles. Apart from this, the expansion of charging stations has also played an important role in the sales of electric vehicles. Two-wheelers accounted for 56 percent of the total electric vehicles sold

MUMBAI: Gold and silver prices were soft in Mumbai jewelery market today as prices rose. Although the prices in the world market increased, but in the domestic currency market today, the import cost and market prices were under pressure in the jewelery market as the dollar price fell against the rupee. The price of gold in the world market increased from 1934 to 1935 to 1932 to 1933 dollars today. Funds were active buyers in global gold as the dollar index retreated and bond yields also fell from high in the world market. Behind gold, global silver prices also rose to 23.34 to 23.28 to 23.29 dollars. Meanwhile, gold prices were Rs.61,000 at 99.50 per 10 grams and Rs.61,200 at 99.90 per kg and silver prices were at Rs.73,000 per kg in the Ahmedabad market. In the Mumbai currency market today, the price of Dover fell by 20 paise against the rupee. Meanwhile, global crude oil prices continued to retreat from the highs. The price of Brent Crude, which rose above 95 dollars and reached a

- India is the second largest producer of digital data in the world. Only China is ahead of it India needs to develop sovereign capabilities in the field of artificial intelligence (AI), including generative AI, said IBM Chairman Arvind Krishna. Indian policy makers should take their advice seriously. The use of AI, especially machine learning and deep learning, has grown rapidly in recent years. These applications range from e-commerce recommendations to self-driving cars. Generative AI models can come up with options and answers from creating new content, answering questions in natural language, finding trends in large amounts of data, and discovering drugs to producing videos and audios, they can revolutionize. It may have had a more profound impact on the world economy and society than any other technology in the recent past. Many Indian companies are entering the field of generative AI with great enthusiasm. They include information technology giants Tata Consultancy Services a

- Boolean Bits - Dinesh Parekh - During the festive days, the dollar-rupee exchange rate is around Rs.83, gold will take a bullish direction ignoring the global prices. In the white market, Sonant has entered a bearish circle with prices quoting a session low of $1892 per ounce. Signals that the Fed will raise interest rates in November and fears that crude oil prices will break above $92 a barrel to control inflation have softened gold, and analysts expect gold prices to quote $1985 an ounce as the dollar strengthens. is The latest US data has shown that inflation has increased more than expected. Economists say that rising energy oil prices and inflation will remain at 3.6 percent, while gold prices quoted at $1,932 per ounce in December 2023 indicate a 12 percent fall in gold prices and signal softening. The Fed is gearing up to raise interest rates and will raise interest rates sharply from November, said Nigel Green, head of the DeBeer Group, adding that rising US financial co