Market and Business News

Paytm Payment Bank: Paytm Payment Bank has seen major changes since the Reserve Bank of India action. Meanwhile, Vijay Shekhar Sharma has resigned from the post of Chairman of Paytm Payment Bank. Along with this, Vijay Shekhar Sharma has also resigned from the board of Paytm Payments Bank. Major changes in Paytm Payment Bank Paytm Payments Bank has undergone major changes since the Reserve Bank's action. In a press release on Monday, Paytm said that company founder Vijay Shekhar Sharma has decided to step down from the post of part-time non-executive chairman of Paytm Payments Bank and has also stepped down as a board member of PPBL. New Board constituted After the resignation of Vijay Shekhar Sharma, a new board of Paytm Payment Bank has also been formed. In which some new faces have been included. Now former chairman of Central Bank of India Srinivasan Srighar will be a member of the board. Apart from this, retired IAS Devendranath Sarangi, former executive director of Bank

RBI 2000 Rupee Notes Data : 8 months have passed since demonetisation i.e. Rs 2000 notes were taken out of circulation on 19th May 2023 in the country, yet there are still Rs 8897 crore notes in the market. Despite the relentless efforts and awareness of the Reserve Bank of India (RBI) and the government, till now 2.50 percent has not returned to the banking system. RBI has released data on how many 2000 notes have been returned till the end of January-2024. 97.50 percent of 2000 notes returned to the banking system According to the RBI, 97.50 percent of the 2000 notes withdrawn from circulation by January 31-2024 have returned to the banking system, while 2.50 percent of the notes i.e. Rs 8897 crore have not yet returned to the system. It is to be mentioned that the Reserve Bank had stopped 2000 rupee notes last year. Meanwhile, a total of 3.56 lakh crore rupees of 2000 notes were in circulation till May 19-2023. The government took a decision in May Reserve Bank of India has de

Mumbai: The bullion market was officially closed today due to Saturday at the Mumbai jewelery market. However, after the closed market, the price rebounded after global market shocks. As the world market increased, the import cost at home increased. Gold prices in the world market were pointing to 2024 to 2025 highs from 2041 to 2042 to 2035 to 2036 dollars at the end of the week. Funds buying was seen in global gold. Behind the world market today, the gold price of 10 grams in Ahmedabad jewelery market is Rs. 100 increased to Rs.64000 at 99.50 and Rs.64200 at 99.90. Ahmedabad silver price was Rs.71000 per kg. In the world market, behind gold, the price of silver also increased from 22.73 to 22.74 per ounce to 23.00 to 23.01 and finally the price was 22.95 to 22.96 dollars. Global platinum prices rose from a high of 896 to 897 to 907 to 908 an ounce to last at 901 to 902 dollars. Palladium prices ranged from $998 to $999 to $976 to $977 in highs of $962 to $963. Global copper price

Indus App Store: 'Indus', an all-India app store launched today with voice and video search facility, with mobile app details and description of what it does in 12 languages ​​of the country. At present, Apple's App Store on phones and Google's App Store on Android have been challenged by Walmart-owned fintech company Phone Pay. Indus App Store will be available by December Although this app store, which can only work on Android phones, customers have to download it directly from the company's website, but by the end of this year it will be included in the new phones of most companies, it will come pre-loaded, said Samir Nigam, the rounder of the company. "We are in talks with most of the top Android phone makers. Our Indus App Store will also be available with these companies' phones by December," it said. Ashwini Vaishnav launched this app store Union Minister for Railways, Communications and IT Ashwini Vaishnav launched the app store at Bharat

MUMBAI: Frontline, index heavyweights Asian Paints, Titan started the week on a negative note with funds in IT, metal-mining, banking stocks offloading today. The global markets also broke today after the record boom. Funds became cautious due to the retreat in the markets of Asia and Europe. Inflation figures to be released in the US There was global caution as the possibility of a Federal Reserve interest rate cut hinged on it. In Indian stock markets, funds held Asian Paints, Titan Company, Bharti Airtel along with metal stocks Tata Steel, JSW Steel and IT stocks TCS, Tech Mahindra, Infosys along with banking stocks Axis Bank. , including Kotak Bank was sold. The Sensex finally closed down 352.67 points at 72790.13 and the spot Nifty closed down 90.65 points at 22122.05. IT Index 409 points, TCS Rs.52, Persistent Rs.220, Tech Mahindra Rs.24 The BSE IT index fell 409.49 points to close at 38218.82 as funds booked big profits in IT-software services, technology stocks today. TCS fe

Mumbai: In the current financial year, the income of the country's banks may be increasing and the gross non-performing assets (NPAs) may be decreasing, but the unsecured credit portfolio of the banks is also increasing, which may become a concern for the financial system of the country going forward. However, the growth of unsecured credit has slowed down. Banks are eager to provide unsecured credit due to high interest rates The unsecured credit portfolio of some banks has been seen increasing in the results announced for the third quarter of the current financial year. A rise in unsecured credit portfolios means bad loans may rise again in the near future, an analyst said. The proportion of unsecured credit in bank portfolios was 35 percent in 2023, which was 25 percent in 2007. In view of the increase in unsecured credit, the Reserve Bank recently increased the risk weight for banks and NBFCs. The pace of unsecured credit growth has slowed in recent months since the move

Indus App Store: 'Indus', an all-India app store launched today with voice and video search facility, with mobile app details and description of what it does in 12 languages ​​of the country. At present, Apple's App Store on phones and Google's App Store on Android have been challenged by Walmart-owned fintech company Phone Pay. Indus App Store will be available by December Although this app store, which can only work on Android phones, customers have to download it directly from the company's website, but by the end of this year it will be included in the new phones of most companies, it will come pre-loaded, said Samir Nigam, the rounder of the company. "We are in talks with most of the top Android phone makers. Our Indus App Store will also be available with these companies' phones by December," it said. Ashwini Vaishnav launched this app store Union Minister for Railways, Communications and IT Ashwini Vaishnav launched the app store at Bharat

Bullish outlook in PSU stocks Even as shares of public sector companies (PSUs) have fallen sharply in the past few days, analysts at Jefferies maintain a bullish outlook on the segment. In a recent note, he said that State Bank of India, Coal India and NTPC are hot favorite stocks in this sector. In the last 12 months, the PSU index has outperformed the Nifty-50 by more than 70 percent. This increase comes after a decade of poor performance before 2020. The recent upbeat performance, before a sharp decline over the past few sessions, was driven by rising earnings per share and improving return on equity. Despite the strong performance, the PSU index has a PE ratio of 12.2 times, representing a 40 percent discount to the Nifty. The multiples of PSU banks, power-coal utilities and select oil and infra companies were very high between 2006-12. A few years ago, the return on equity of PSUs decreased from 14-15 percent to 4-6 percent. Bike taxi business will be legalized The government

- Underinvestment in many sectors as per review of PLI schemes: Efforts should be made to address real concerns in each sector The government's Production Linked Incentive (PLI) scheme is closest to the industrial policy of the country. Many PLI programs were also designed for sectors that the government believed were relevant to the country's development and economic security. Some of these are directly related to eco-friendly changes, for example, battery plans. But there are many others that are traditionally export-oriented sectors. Textile is a labor intensive sector which is also essential for employment growth. Growth in private investment in some of these sectors, such as textiles, information technology, hardware and particularly steel, has been lower than expected. According to the review of plans by an inter-ministerial panel, investment in many sectors is poor. It is becoming increasingly clear that there are many areas that require deep policy reforms. Only then

- Experiences of Sriram Krishna who has worked with top three CEOs like Elon Musk, Mark Zuckerberg and Satya Nadella at various stages - Some of the qualities and passion of the CEOs of the world's top companies are rarely revealed. These three can be said to be big names in business at the global level. Sriram Krishnan, who worked with him, is currently developing his business as a venture capitalist. - It is also important here that Elon Musk used to sleep outside the office on the visitors' sofa if he got too late. Same is the case with Zuckerberg. He used to order food from home and spend the night in the office. Those who work in reputed companies take pride in sharing their experiences. He takes pride in telling people what his boss's personality is, his working style, how he behaves with staff, etc. Everyone who works closely with the boss may have different experiences but the overall impression of the boss is known. Chennai-based Sriram Krishnan, who has worke

China developed 1200 GB speed internet China has now become the country with the fastest internet in the world. China claims that Tsinghua University, China Mobile, Huawei and Sernet.com Corporation have developed an Internet network capable of downloading 1.2 TB or 1200 GB of data in one second. Meaning, a 1 GB movie can be downloaded in a second in less than a blink of an eye. At present, this network will be available through optical fiber in a 3000 km belt of Beijing, Guangzhou and Guangzhou, but in 10 years, the same speed internet will run in the whole of China. Currently, the fastest internet is in America, which has a speed of 400 GB per second. Of course this speed is available in 5G internet. 30 thousand bike and 3.20 lakh memo A young man living in Sudamanagar, Bangalore has been fined for violating driving rules. This young man has been fined 3.20 lakh rupees so far under different memos received for violation of rules like talking on mobile phone while riding bike, en

- All of the farmers - Lokabhimukha Guidance - - H.S. Patel IAS (Retd.) - Resolution of agricultural land-necessary to apply to non-cultivators arising out of non-cultivation as well In Gujarat, a legal farmer cannot buy agricultural land unless he has the status of a tenant. In this regard, there is a control under Article-63 of the Act that no person can own agricultural land without the permission of the Collector and in this regard the definition of caste farming has been given in Article 2(2) of the Act. The Agricultural Land Act was enacted in 1948 and is in force under the Land Reform Acts after independence, while the Land Revenue Act-1879 has rules for land revenue and Record of Rights for maintaining the rights of agricultural tenants over land/property, thus the status of agricultural tenants is regulated under the provisions of the Act. happens Mostly as per the government guidelines for verifying the status of Khedut Ukhdar since 1951 i.e. since the promulgation (valid

- Industrial guidance - Dhiru Parekh D-Cake means the raised solid material after crushing the oilseeds with a crushing machine and extracting the oil is called D-Cake. D-cake means a substance without rusks. This d-cake contains about eight percent oil after crushing. The oil thus left is extracted into d-cake by an extraction plant and the resulting substance is called d-cake. This d-cake is a bio product used as animal feed. What is Extraction Plant? Extraction Plant etc. The liquid extracted from any substance, such as extract, juice, sap, sap, etc. This extraction plant is also called solvent plant. Because the liquid is separated from the solid with the help of solvent, it is called solvent plant. In this way the D-cake is extracted with the help of food grade hexane solvent up to eight percent of the oil remaining in the D-cake. And the remaining solid that rises is called d-cake. These d-cakes are described as bioproducts. Which is a protein. What is bio products? Bio p

A total turnover of Rs.8,17,870.65 crore was recorded in 94,23,593 trades during the week of February 9 to 15 in various commodity futures, options and index futures on the country's leading commodity derivatives exchange, with commodity futures accounting for a turnover of Rs.90, 309.11 crore and the share of options was Rs.7,27,503.06 crore. During the week under review, 8,85,879 deals worth Rs.64,131.51 crore were transacted in precious metals futures in gold and silver. Among gold futures, gold April futures opened at Rs.62,464 per 10 grams at the beginning of the week, touched an intra-day high of Rs.62,544 and a low of Rs.61,190 during the week, ending the week with a decline of Rs.821 to Rs.61,622. The price was reached. Against this, Gold-Guinea February contract fell by Rs.396 per gram to Rs.49,702 and Gold-Petal February contract fell by Rs.42 per gram to Rs.6,071 per gram. Gold-mini March futures reached the level of Rs.913 per 10 grams to Rs.61,306. Among silver futu

- Chart Indication - Ashok Trivedi The BSE index (close 72426.64 on 16-02-24) is bullish from a low of 770809.83. Currently, the 12 day average is 71693.90, the 48 day average is 70835.84 and the 200 day average is 66903.43. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought position on daily and weekly basis as well as overbought position on monthly basis. Above 72545 above 73090, then 73427 is considered an important level. Above which the possibility of 73750, 74000, 74400, 74700. 71644 below 72218 is considered support. Asian Paint (closing price Rs.3007.90 on 16-02-24) is bullish from the bottom of 2902.65. Currently, the 12 day average is 2983.12, the 48 day average is 3103.99 and the 200 day average is 3143.46. The daily MACD is bullish. Weekly MACD is bearish. Overbought on a daily basis, oversold on a weekly basis and neutral on a monthly basis shows the position. Above 3033 possible up to 3065, 3098, 3130. 2967 below 3000 is counted as support. HDFC Bank

- Antenna - Vivek Mehta - Companies were panicked as they started receiving notices of non-deposit of money In the past, it was common for employees' share of provident fund to be deducted from salary and not deposited. Now that has changed. Every employee can register his provident fund number on the number given to him. Also, he can know how much money has been deposited in his account in the provident fund within two minutes by dialing the number. He can also create his own record based on the amount shown in the message. As a result they can keep a track record of how much money is deposited in their account and when the last salary money was deposited. However, from the last two months, the companies have started receiving notices that the company is spreading rumors. The notices issued by the Employees Provident Fund Office directly state that you have not deposited the Provident Fund money deducted from the employee's salary. As a result, officials of many companies

- Sales Tax - Soham Mashruwala Advance payment of tax amount is mandatory while appealing under GST law. Under the earlier VAT Act appeals were filed even without preliminary filing in exceptional circumstances and a liberal attitude was maintained. At present the department is campaigning to complete the appeals under the old VAT Act and Central Sales Tax Act and the backlog of all appeals is to be exhausted. During the covid pandemic there were haphazard assessment orders and now there is a certain expectation that appeals will be dealt with cautiously. One side is determined to complete the appeal and the other side is reluctant to stay. The merchant stumbles helplessly. Well, the people have to eat the king's burial. GST law has a clear provision for arrears of recovery that no recovery will be taken based on the amount predeposited at the time of appeal and the appeal copy (filed on the GST portal). Now the dispute as to what amount to pre-deposit I Tejas Arecanut Traders Vs

Mumbai: Steel producers have demanded a ban on the export of iron ore in view of the rise in ore prices at home due to the sharp increase in the demand for iron ore, the raw material of steel from China. It is being discussed that the iron ore producers are angry about this demand of the steel industry. Last year, India's iron ore exports increased by 170 percent to 4.40 crore tonnes. Most of the exports went to China. While the demand for iron ore is increasing domestically as well, the rise in its prices has put small steel producers in trouble, industry sources said. If iron ore becomes expensive in India, steel production in China will continue to increase and the steel industry in India will have to suffer. In the last six-eight months, the price of ore has increased by 30 to 32 percent to Rs 6,000 per ton. While the small steel producers in various states of the country are in a position of loss, the small steel producers have come together and submitted to the government

Mumbai: US Despite a clear indication in the minutes of the recent meetings of the Federal Reserve and the Reserve Bank of India that inflation-adjusted interest rates are unlikely to be cut in the short to medium term, IT chip manufacturing giant Nvidia Corp's results on the global front and the company's strong business outlook in the new era of AI kept Indian markets in line with global markets. Stock markets have extended a record bullish streak at the end of a two-sided rout. Although the market sentiment remains positive, the number of stocks and scrips participating in the bull market has started to decrease, which clearly shows that funds, investors have become cautious in their selection of stocks. As many stocks are trading at overvaluation, these stocks are seeing profit booking on the one hand. While other choices still offer attractive valuations, the fund's investment in stocks continues to be attractive. On the global front, China is trying to stabilize its

Mumbai: The bullion market was officially closed today due to Saturday at the Mumbai jewelery market. However, after the closed market, the price rebounded after global market shocks. As the world market increased, the import cost at home increased. Gold prices in the world market were pointing to 2024 to 2025 highs from 2041 to 2042 to 2035 to 2036 dollars at the end of the week. Funds buying was seen in global gold. Behind the world market today, the gold price of 10 grams in Ahmedabad jewelery market is Rs. 100 increased to Rs.64000 at 99.50 and Rs.64200 at 99.90. Ahmedabad silver price was Rs.71000 per kg. In the world market, behind gold, the price of silver also increased from 22.73 to 22.74 per ounce to 23.00 to 23.01 and finally the price was 22.95 to 22.96 dollars. Global platinum prices rose from a high of 896 to 897 to 907 to 908 an ounce to last at 901 to 902 dollars. Palladium prices ranged from $998 to $999 to $976 to $977 in highs of $962 to $963. Global copper price