[ad_1] Unified Payments Interface (UPI), which has emerged as the world’s most popular alternative payments method (APM), processed transactions to the tune of â‚ą80.8 lakh crore ($964 billion) in April-July 2024, a sharp 37% year-on-year (y-o-y) surge compared to the same timeframe the previous year. Transaction metrics and global comparison UPI processed a staggering 3729.1…
[ad_1] Mumbai: To have the same level of efficiency as domestic payments, cross-border transactions will require going beyond the existing infrastructure, technology, process and categories of ecosystem participants, according to Reserve Bank of India deputy governor T. Rabi Sankar. “One of the key issues we globally discuss now is how to achieve the efficiency we…
[ad_1] Anticipation of imminent cuts rose after the Jackson Hole huddle of central bankers and economists, an occasion that market participants across the world were watching for cues. “The time has come for policy to adjust,” Fed chair Jerome Powell said in his speech, adding that “the direction of travel is clear, and the timing…
[ad_1] Groww Invest Tech Private Limited (GIT), also known as the brokerage firm Groww, has launched new features to reduce losses for futures and options (F&O) traders in the country, according to the company’s press release on Tuesday, August 27. F&O Pause, Safeguard, and Safe Exit are the three features that Groww launched to safeguard…
[ad_1] The relationship between retail and food inflation has been a matter of considerable debate, especially in light of the 2024 Economic Survey’s suggestion that food inflation should no longer be included in the inflation target, since it is largely supply driven. In the latest Reserve Bank of India (RBI) Bulletin released on 19 August,…
[ad_1] On Monday, Reserve Bank of India governor Shaktikanta Das announced the launch of its Unified Lending Interface (ULI), a tech platform aimed at “frictionless credit”, especially for those who find it hard to borrow. “Just as UPI transformed the payments ecosystem, we expect that ULI will play a similar role in transforming the lending…
[ad_1] Indian markets rose around a percent in intra-day deals today, extending gains for the 8th straight session after US Fed Jerome Powell’s indication of a rate cut next month was cheered by investors. At the Jackson Hole Symposium, Wyoming, Powell hinted, “The direction of travel is clear, and the timing and pace of rate…
[ad_1] Indian banks have indeed traversed a long journey from the time the first European-style bank, Bank of Hindostan, was set up in Calcutta (now Kolkata) in 1771 by managing agents Alexander and Company, followed very quickly by Commercial Bank from managing agents McKintosh and Company. These banks may not have stood the test of…
[ad_1] Indian stock market investors should capitalize on the growth potential of midcap and smallcap segments while having defensives like largecap pharma, IT and consumer in their portfolio, said Vikram Kasat, Head – Advisory, PL Capital – Prabhudas Lilladher. In an interaction with Livemint, Kasat said there is more valuation comfort in largecap stocks and…
[ad_1] Bank deposits seem to have lost their charm for the vast majority of savers, leaving banks scrambling for deposits. Indeed, finance minister Nirmala Sitharaman and Reserve Bank of India (RBI) governor Shaktikanta Das have urged banks to pull out all stops to garner more deposits. Against this backdrop, RBI deputy governor Rajeshwar Rao’s recent…
