India's public sector banks are expected to see a significant profit boost due to a new RBI directive. This allows banks to book profits on security receipts from bad loans sold to NARCL, potentially adding Rs 20,000 crore to their earnings. The change increases liquidity and acknowledges the value of government-backed SRs.
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Domestic investors engaged in profit-booking following seven days of gains, causing the sensex to drop by 729 points and the Nifty to lose 189 points. Market analysts attribute this to forthcoming US tariff announcements and sectoral impacts, especially in pharma and IT, despite foreign investors' net buying signals market stability.
Bengaluru's office rentals have surged by 26% in five years, reaching Rs 93 per square foot in 2024. Key cities like Hyderabad and Chennai also saw significant increases, driven by expanding IT infrastructure and skilled workforce, while Delhi-NCR recorded the slowest growth among the seven major property markets.
Commerce and Industry Minister Piyush Goyal urged industries to reduce protectionism and emphasized dealing with the world from a position of strength. He assured that the government is actively working to protect exporters, especially amid concerns over high tariffs imposed by countries like the US, the UK, and the EU.
Gold prices hit an all-time high of Rs 89,450 per 10 grams in the national capital, driven by strong global trends and safe-haven demand due to cooler-than-expected US inflation data. Gold and silver also saw gains in the futures market. Traders are now focused on upcoming US economic data, which could influence further market trends.
Banks and UPI applications must conduct weekly updates of their mobile number records to prevent errors from recycled or modified numbers. Applications must obtain explicit user permission before assigning or updating numeric UPI IDs.
Sukanya Samriddhi Yojana (SSY) is a government savings scheme for the girl child. It offers an 8.2% interest rate and tax benefits under Section 80C. Parents can invest up to Rs 1.5 lakh annually.
Canon sees a promising opportunity in India's burgeoning semiconductor market. The company is negotiating with chip manufacturers setting up facilities in India to supply its lithography equipment. Canon is optimistic about achieving double-digit growth in the coming years, driven by India's strong economic outlook and expanding industries.
US stocks dropped significantly after President Trump announced tariffs on Canada and Mexico. The S&P 500, Dow Jones, and Nasdaq saw big falls amid concerns over economic growth and trade tensions. Certain sectors were hit hard, including Nvidia, Tesla, and Kroger. Investors are wary of economic uncertainties as future Federal Reserve actions remain in focus.
Global passenger numbers are projected to reach 22.3 billion by 2053, nearly 2.4 times the volume for 2024, as per the Airports Council International's airport traffic forecasts. Key factors include rising middle-class travel demand in emerging markets, strengthened international travel, and investments in airport infrastructure.
India's manufacturing sector saw its fastest growth in six months in January, driven by a sharp rise in new orders and record export growth. The PMI rose to 57.7, indicating strong sector health. Robust job creation and easing input cost pressures were also noted. Optimism among manufacturers suggests ongoing expansion and solid prospects for early 2025.