Introduction Cryptocurrencies have been gaining in popularity and recognition since the launch of Bitcoin in 2009. With Bitcoin like (bit-indexai.co) becoming the first decentralized digital currency, several other cryptocurrencies have been developed and introduced to the market, with varying features and use cases. In this article, we take a closer […]
Introduction: The rise of cryptocurrencies has created a new arena for investors and traders alike. While the potential rewards can be significant, there are also significant risks involved. To succeed in the world of cryptocurrency trading, it is crucial to avoid common mistakes. In this article, we will explore five […]
Unified Payments Interface (UPI), the digital payment system that rides on smartphones and increased internet connectivity, has shown a quantum jump and is now a preferred mode of payment. The Economic Survey released on 31st January said “the progress of UPI has been remarkable”. In the fiscal year ending March […]
A proposal to extend PLI scheme benefits to different sectors such as toys and leather is at advanced stages of finalisation and there is a likelihood that it may figure in the Budget, expert says. The 14 sectors are mobile manufacturing, manufacturing of medical devices, automobiles and auto components, pharmaceuticals, drugs, […]
Benchmark equity indices BSE Sensex and NSE Nifty extended their losses for the second straight session on 27th January amid heavy selling in index heavyweights including Reliance Industries, Adani Enterprises and Adani Ports among others. The 30-share index Sensex traded over 1,800 points down at 59,108 against the 60,978.75 mark […]
Gold futures on the Multi Commodity Exchange hit an all-time high of Rs 57,099 per 10 grams on 24 January. Gold prices jumped tracking gains in overseas markets and a depreciation in the rupee currency. However, the surge dampened demand in the world’s second biggest consumer of the precious metal. […]
Adani Enterprises, the flagship company of ports-to-energy conglomerate Adani Group, said it would raise ₹20,000 crore in follow-on public offering of new shares, which is being touted as the country’s biggest FPO. The Adani Group’s flagship company has filed papers with capital market regulator Securities and Exchange Board of India (Sebi) […]
Indian gold futures hit a record high on Friday, tracking gains in overseas market, but the price rise dampened demand in the world’s second biggest consumer of the precious metal, dealers said. Local gold futures rose to 56,245 rupees ($691.45) per 10 grams, surpassing the previous record of 56,191 rupees […]
Bengaluru topped the startup funding chart in India with $10.8 billion in 2022, followed by Mumbai at $3.9 billion, and Gurugram at a distant $2.6 billion. Startups based in Delhi and Chennai registered $1.2 billion each in funding, followed by Pune at $1 billion, according to data provided by Tracxn, a leading global market […]
The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 10.14%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve’s aggressive monetary policy stance to tame inflation. The rupee finished the year at 82.72 to the U.S. currency, down from […]
With 132.34 metric tonnes (MT) of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. Also, RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020, it bought 41.68 MT of gold while in 2021 and 2022 (till September […]
Vostro accounts are accounts a bank holds on behalf of another, often foreign bank, and this forms a key part of correspondent banking.’ In July 2022, the Reserve Bank of India introduced a new mechanism for international trade settlements in rupees, aiming to promote exports and facilitate imports. Rupee Vostro Accounts […]
India’s steel production has reached a historic level of 120 million tonnes per year making it the world’s second-largest producer of Steel, the government informed the Rajya Sabha. Steel Minister Jyotiraditya Scindia said India intends to double its steel production to 300 million tonnes per annum by 2030. “There has […]
The government raised over Rs4.04 lakh crore through disinvestment and strategic sale of public-sector enterprises (PSEs) since the Modi government came into power in 2014, the Finance Ministry said on 20 decm. Of this, the largest amount totalling over Rs1.07 lakh crore through offer for sale in 59 cases. This […]
India’s rupee trade settlement mechanism, which was set up by the Reserve Bank of India in July 2022, is attracting interest from more countries apart from Russia. The mechanism is a means of using rupees instead of dollars and other big currencies for international transactions in order to promote growth of global trade with emphasis […]
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