Krishna Veni, a 40-year-old homemaker living in the slum near Hyderabad’s Rajiv Gandhi International Airport, does not use payment apps such as Google Pay, PhonePe or BHIM. Not because she does not want to but because she cannot for a simple reason: her mobile phone number is not linked to her bank account, the vital … Read more
The Indian stock market has been witnessing continuous all-time highs. Recently, the Sensex benchmark breached 75,000 points. There’s been a remarkable synergy between economic growth and corporate earnings and robust earnings growth, especially post-Covid, has been a driving force behind the market’s upward trajectory. While there are worries about the overvaluation of stocks, the Indian … Read more
Economists and businesses have been trying to understand the relationship between private spending and Goods and Services Tax (GST) collections in India. While some data like the private final consumer expenditure show that people are spending less, GST collections have remained robust. “GST reflects the overall consumption patterns within the boundaries of a state. We … Read more
In the last few months the Reserve Bank of India (RBI), the country’s central bank, has made headlines several times for pulling up non-banking finance institutions. Recently it increased risk weightage for fintech companies that give credit in the form of unsecured loans, credit cards or consumer loans from 100% to 125%. This means that … Read more
In an exchange filing last week, information technology giant Infosys disclosed that it received orders from the Income Tax Department for assessment years 2008 to 2019. The company anticipates a refund of Rs 6,329 crore, inclusive of interest. Such a huge payout could signal a significant financial boost for the company and impact its future … Read more
The recent regulatory action by the Reserve Bank of India (RBI) against Paytm Payments Bank, the digital lending division of fintech giant Paytm, has put the payment bank model in India under the spotlight. In 2015, the RBI had initially granted licences to 11 payment banks. However, after eight years, only five of them are … Read more
The recent regulatory action by the Reserve Bank of India (RBI) against Paytm Payments Bank, the digital lending division of fintech giant Paytm, has put the payment bank model in India under the spotlight. In 2015, the RBI had initially granted licences to 11 payment banks. However, after eight years, only five of them are … Read more
In March, the Indian stock market recorded a significant correction in mid-cap and small-cap stocks. The benchmark Nifty 50 returns for the month have also been subdued. This downward pressure on mid-cap and small-cap indices follows concerns raised by the market regulator, the Securities and Exchange Board of India (SEBI), regarding the accumulation of ‘froth’ … Read more
On March 14, the world’s most valuable company, Apple, settled a class action lawsuit filed by a bunch of irate investors who alleged that CEO Tim Cook misled them about the company’s performance. It agreed to pay $490 million as a settlement. The trigger was a November 2018 earnings call where Cook suggested that while … Read more
When the Reserve Bank of India (RBI) launched the central bank digital currency (CBDC) in December 2022, Tanmoy Khanra, a 29-year-old IT professional from Bengaluru, was fascinated with the fact that it was a digital currency based on blockchain technology. Khanra downloaded the Digital Rupee By ICICI app in March 2023 out of curiosity to … Read more