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Indian Public Sector Banks Report Record Rs 1.41 Lakh Crore Net Profit, GNPA Falls to 3.12%

Indian Public Sector Banks Report Record Rs 1.41 Lakh Crore Net Profit, GNPA Falls to 3.12%

15 Dec 2024 15:25 PM IST

Indian Public Sector Banks (PSBs) have reported their highest-ever aggregate net profit of Rs 1.41 lakh crore for the financial year 2023-24, according to a release from the Ministry of Finance on Sunday. The Gross Non-Performing Assets (GNPA) ratio has also seen a significant decline, dropping to 3.12% as of
Evolving Indian Startup Ecosystem: IPOs Become Viable Exit Routes for Investors

Evolving Indian Startup Ecosystem: IPOs Become Viable Exit Routes for Investors

15 Dec 2024 14:11 PM IST

The Indian startup ecosystem has experienced significant evolution over the past decade, leading to major shifts in how private equity (PE) and venture capital (VC) firms strategize their exits from startups. Traditionally viewed as venues for established companies, Indian stock markets are now providing diverse opportunities for new-age startups to
Apple Under Fire For False AI News Alerts: BBC Raises Concerns

Apple Under Fire For False AI News Alerts: BBC Raises Concerns

15 Dec 2024 01:37 AM IST

Apple’s AI service faces criticism after generating a false news alert falsely attributing a suicide story to BBC. The broadcasting giant has filed a formal complaint, raising questions about the reliability of AI-powered news aggregation.
Dilip Kumar’s Bandra Bungalow Transformed Into ‘The Legend’: Apartments Worth Rs. 500 Cr

Dilip Kumar’s Bandra Bungalow Transformed Into ‘The Legend’: Apartments Worth Rs. 500 Cr

13 Dec 2024 13:22 PM IST

Ashar Group, a leading real estate firm in Mumbai, has transformed the old and beautiful family bungalow of superstar Dilip Kumar and his wife Saira Banu into a high-end residential complex called ‘The Legend’ on his 102nd birth anniversary. The luxury development has created much buzz as it sold out
Sensex Falls Over 1,200 Points Amid Market Selloff

Sensex Falls Over 1,200 Points Amid Market Selloff

13 Dec 2024 12:08 PM IST

The Sensex dropped more than 1,200 points in early trading on Friday due to widespread selling. As a result, investor wealth decreased by Rs 6.93 lakh crore, falling from Rs 458.15 lakh crore to Rs 451.22 lakh crore. The Sensex fell 1,207 points to 80,082, and the Nifty slipped by
Adani Group’s Rejection of U.S. Funding for Sri Lanka Port a Blow to U.S. Foreign Policy

Adani Group’s Rejection of U.S. Funding for Sri Lanka Port a Blow to U.S. Foreign Policy

12 Dec 2024 20:27 PM IST

The Adani Group’s recent decision to reject a $553 million loan from the U.S. International Development Finance Corporation (DFC) for the construction of a deepwater port in Sri Lanka has been interpreted as a significant setback for U.S. foreign policy efforts in the region. Michael Kugelman, Director of the Wilson
HDFC Bank Receives SEBI Warning For Alleged Non-Compliance of Multiple Regulations

HDFC Bank Receives SEBI Warning For Alleged Non-Compliance of Multiple Regulations

12 Dec 2024 18:04 PM IST

The letter, dated December 9, 2024, highlights issues identified during SEBI's routine inspection of the bank's investment banking operations.
25 States Achieve Over 7% growth in their Gross State Domestic Product, 17 Surpass 9% Since COVID 2023: PHDCCI

25 States Achieve Over 7% growth in their Gross State Domestic Product, 17 Surpass 9% Since COVID 2023: PHDCCI

12 Dec 2024 17:54 PM IST

Tourism-centric states like Kerala, Rajasthan, and Goa have leveraged India's rich cultural heritage to enhance foreign exchange earnings.
Finance Commission Chair Predicts $9 Million Growth in India Economy by 2030 If Pending Reforms Implemented

Finance Commission Chair Predicts $9 Million Growth in India Economy by 2030 If Pending Reforms Implemented

12 Dec 2024 17:20 PM IST

Urban land in India is extremely expensive. Rental leases in major cities are about 2-3 per cent, while interest rates are around 8%.
India’s Retail Inflation Declines to 5.48% in November, Within RBI’s Comfort Band

India’s Retail Inflation Declines to 5.48% in November, Within RBI’s Comfort Band

12 Dec 2024 17:17 PM IST

 India’s retail inflation in November declined to 5.48% as compared to 6.21% in October, falling within the Reserve Bank of India’s (RBI) comfort band of 2-6%. The decline in inflation is mainly due to the decline in inflation in the food and beverages group. Rural and Urban Inflation Rates Corresponding
Adani Group Firms See Rs 27,000 Crore Surge in Investors’ Wealth, Stocks Rise 9%

Adani Group Firms See Rs 27,000 Crore Surge in Investors’ Wealth, Stocks Rise 9%

12 Dec 2024 17:09 PM IST

Adani Group companies’ stocks have added nearly ₹ 27,000 crore to investors’ wealth, with most stocks gaining in trading this morning. The market capitalisation of Adani Group firms rose ₹ 26,894.46 crore to ₹ 13.55 lakh crore at 11.03 am. Adani Group Stocks Rise 9% The Adani Group companies’ stocks
India’s Private Sector Capex Set to Intensify, Boosting Economic Growth

India’s Private Sector Capex Set to Intensify, Boosting Economic Growth

12 Dec 2024 14:32 PM IST

A recent report by PhillipCapital, a leading stock broking company, has predicted that India’s private sector capital expenditure (capex) is poised to intensify, building on the robust government spending in the country. The report suggests that India is at the beginning of a capex cycle that will see significant investments
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