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16 Dec

UPI transactions jump to Rs 223 lakh crore in Jan-Nov

Business CorrespondentBusiness, News

UPI achieved 15,547 crore transactions worth Rs 223 lakh crore this year, transforming India's financial landscape. It is now being accepted in seven countries, furthering financial inclusion and access to digital payments. The Unified Payments Interface (UPI) has achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, 'reflecting its transformational impact on financial transactions' in India, the Finance Ministry said on Saturday. The Finance Ministry also said that UPI is now accepted in seven countries, including France, UAE, Singapore, Sri Lanka, Mauritius, Bhutan and Nepal. The UPI system provides a cheaper and faster alternative…

14 Dec

Gold, silver prices plunge as jewellers sell off

Business CorrespondentBusiness, News

New Delhi: Gold and silver prices fell in the national capital on Friday, with the precious metal sliding below the Rs 80,000 mark amid heavy selling by jewellers and stockists, according to the All India Sarafa Association. Besides, traders said a weak trend in international markets also put heavy pressure on bullion prices. The precious metal of 99.9 per cent purity fell by Rs 1,400 to Rs 79,500 per 10 gram. It had closed at Rs 80,900 per 10 gram in the previous session. Silver fell by Rs 4,200 to Rs 92,800 per kg, its biggest fall in the month…

13 Dec

Vodafone Idea share price gain 5% from intraday low; can it rise further?

Business CorrespondentBusiness, News

Vodafone Idea share price witnessed a sharp surge during intraday trading on Friday, December 13, rising as much as 5 per cent from an intraday low of ₹7.68 despite a volatile market environment. Vodafone Idea share price opened at ₹7.83 against its previous close of ₹7.87 and fell over 2 per cent to hit ₹7.68 levels. However, the telecom stock recovered sharply and touched ₹8.07 levels. Around 1 pm, the stock was trading 2.4 per cent higher at ₹8.06. Vodafone Idea NewsVodafone Idea shares surged after the company revealed details of an investor presentation that highlighted four key strategies for…

13 Dec

SWITCH Mobility launches new electric buses, expands global footprint in sustainable urban transport

Business BureauBusiness

SWITCH Mobility Ltd, subsidiary of Ashok Leyland and part of the Hinduja Group, and a leading manufacturer of electric buses and light commercial vehicles, has unveiled its contemporary electric bus platform SWITCH EiV12—the low-floor electric city bus for the Indian market. It is India’s first low-floor city bus with chassis-mounted batteries, featuring a scalable battery capacity of over 400+ kWh. The vehicle was launched by Shri Nitin Gadkari, Hon’ble Minister for Minister of Road Transport and Highways of India, in the presence of Ashok P. Hinduja, Chairman of Hinduja Group Companies (India), other dignitaries, and industry leaders. Mr. Ashok P.…

12 Dec

Credit card defaults have progress by 110 basis points, the study said

Business CorrespondentBusiness, News

RBI data shows that the number of credit cards issued by banks has also increased sharply to 10.61 crore by September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021.Credit card repayment defaults are on the rise, reflecting growing stress and debt burden among customers. Credit card repayment defaults or portfolio risk (PAR) in banking parlance for credit cards with 91-180 days past due (DPD) have increased by 110 basis points to 7.6 per cent by June 2024 from 6.5 per cent in June 2023, a study said.This means that defaults…

12 Dec

Aviva India’s New Era: A new approach to life insurance for customers, partners and the organization

Business BureauBusiness

Aviva Life Insurance India has transformed the life insurance landscape with a groundbreaking commitment to customer wellness, transparency, and accessibility. Guided by a forward-thinking vision, Aviva has introduced innovative products and initiatives that set a new standard in the industry, aligning with the Insurance Regulatory and Development Authority of India’s (IRDAI) “Insurance for All” mission. At the core of Aviva’s approach is a focus on comprehensive wellness for its customers, anchored in five key pillars: Physical Fitness, Mental Well-being, Proactive Health Checks, Balanced Nutrition, and Financial Security. “As a life insurance provider, we believe that true security is about more…

11 Dec

Cement prices may jump by 4%, which is good news for the sector

Business CorrespondentBusiness, News

According to CLSA, the Indian cement sector may see a price increase of 4% in the second half of FY25 and this will be good news for companies that have been affected by low prices across India for the last several quarters. However, the sustainability of these price increases remains a key monitorable factor, according to the brokerage. Cement prices increased by Rs 10-30 per bag in early December. The increase was the highest in the eastern and central regions of India at Rs 20-30 per bag, while the rest of the regions saw an increase of Rs 10.This means…

11 Dec

Family and friends surpass YouTube as top financial guides for 64% of Asansol’s youth

Business BureauBusiness

Fin One, a digital-first initiative by Angel One Limited (NSE: ANGELONE; BSE: 543235), has released its Fin One Young Indians’ Saving Habits Outlook 2024, shedding light on the evolving financial behaviours of Millennials and Gen Z across India. The data for the report was compiled by the leading research firm, Nielsen Media. The report examines saving patterns, investment preferences, and the influence of technology on financial habits among Asansol’s young residents. Findings reveal a strong savings culture, with 96% identifying as consistent savers, and fixed deposits ranking among the most popular savings options. Asansol’s youth demonstrate a high awareness of…

10 Dec

Retail vehicle sales jump 11.2 percent in November

Business CorrespondentBusiness, News

According to data compiled by the Federation of Automobile Dealers Association, retail sales of vehicles across categories in India rose 11.21 percent to 32,08,719 units in November as against 28,85,317 units in the same month last year. Retail sales of two-wheelers rose to 26,15,953 units in November as against 22,58,970 units in the same month last year. This shows a robust growth of 15.8 percent.

10 Dec

Aster CMI Hospital partners with Arunachal government for affordable liver transplant services

Business BureauBusiness

Aster CMI Hospital has entered into a collaboration with the Government of Arunachal Pradesh to provide affordable liver transplantation services for patients with end-stage liver disease. This groundbreaking initiative aims to support patients, especially children suffering from congenital liver conditions such as biliary atresia, by offering life-saving treatment at a fraction of the typical cost. Liver transplantation, with a 95% success rate when performed with a living donor, is often unaffordable due to the high cost of the procedure, typically ranging between ₹20-25 lakh. In response, Aster CMI Hospital, in collaboration with CSR initiatives and crowdfunding platforms, has developed India’s…