Friday, August 14

Business

RBI balance sheet to flourish 11.07% to Rs 70.47 lakh Crore in FY2024
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RBI balance sheet to flourish 11.07% to Rs 70.47 lakh Crore in FY2024

The balance sheet of the Reserve Bank of India increased by 11.07 percent to Rs 70.47 lakh Crore in the financial year ending March 31, 2024, compared to Rs 63.44 lakh Crore in the financial year 2022-23.The growth on the asset side was led by growth in foreign investment, gold and loans and advances by 13.9 per cent, 18.26% and 30.05% respectively, the RBI said in its annual report for 2023-24.As of March 31, 2024, domestic assets stood at 23.31%, while foreign currency assets, gold (including gold and gold deposited in India) and loans and advances given to financial institutions outside India were 76.69 per cent of total assets, while it stood at 26.08% and 73.92 percent on March 31, 2023, respectively.In terms of liabilities, the expansion was led by an increase in notes issued, depos...
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Akasa Air started flight operations between Gorakhpur, Delhi and Bengaluru from May 29
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Akasa Air started flight operations between Gorakhpur, Delhi and Bengaluru from May 29

Akasa Airline has started direct flights connecting Gorakhpur with Delhi and Bengaluru. Apart from Gorakhpur, the airline, which began flying in August 2022, flies to four other cities in Uttar Pradesh -- Ayodhya, Varanasi, Lucknow, and Prayagraj. The inaugural flight from Gorakhpur to Delhi started on Wednesday(May 29), the airline said in a release on Thursday. Recently, Akasa Air started international services and at present, it has flights to Doha and Jeddah.
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Empowering Communities: Amazon’s Impact on 7.8 Million People
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Empowering Communities: Amazon’s Impact on 7.8 Million People

Amazon is actively empowering communities by implementing various initiatives, affecting over 7.8 million people nationwide. The company utilizes its resources and innovative capabilities to provide essential education and skills training to underserved populations. Amazon is dedicated to providing essential education and skills training to underserved populations, including through programs like Amazon Future Engineer, which aim to bridge the gap in computer science education for young students from diverse backgrounds. Additionally, numerous scholarship programs are available to ensure financial accessibility. Amazon has started pre-positioning disaster relief materials, including shelter and hygiene kits, to provide them to communities in need within 72 hours. The company will use i...
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LIC Q4 net profit rise up 2% to Rs 13,763 Crore
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LIC Q4 net profit rise up 2% to Rs 13,763 Crore

The insurer's total income during the quarter under review increased to Rs 2,50,923 Crore from Rs 2,00,185 Crore in the same period last fiscal, LIC said in a regulatory filing.Insurance giant LIC on Monday reported a marginal 2 % rise in net profit to Rs 13,763 Crore for the fourth quarter ended March 2024.The insurer had made a profit of Rs 13,428 Crore in the same quarter a year ago.The insurer's total income during the quarter under review increased to Rs 2,50,923 Crore from Rs 2,00,185 Crore in the same period last fiscal, LIC said in a regulatory filing.LIC's incomes from first-year premium also increase to Rs 13,810 Crore in the latest January to March quarter from Rs 12,811 Crore in the same period previous financial. Income from revitalization premium increased to Rs 77,368 Crore...
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Sensex crosses 76 thousand, market at record high: Investors’ wealth improved by Rs 1.5 lakh Crore; Finolex Cables, Aegis Logistics gain to 12%
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Sensex crosses 76 thousand, market at record high: Investors’ wealth improved by Rs 1.5 lakh Crore; Finolex Cables, Aegis Logistics gain to 12%

This huge surge was supported by gains in banks and the financial sector. The 30-share BSE Sensex pack rose 599 points to hit a record high of 76,010, while the broader NSE Nifty index rose over 151 points to a new lifetime peak of 23,108.Domestic stocks made strong gains in Monday's trade to touch their new all-time high. This huge surge was supported by gains in banks and the financial sector. The 30-share BSE Sensex pack rose 599 points to hit a record high of 76,010, while the broader NSE Nifty index rose over 151 points to a new lifetime peak of 23,108. Domestic stock markets surged so much that it generated nearly Rs 1.5 lakh Crore of BSE market capitalization (M-cap). Here's a look at the rise in market numbers today: Investors' wealth improved by Rs 1.5 lakh CroreInvestor we...
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ICICI Prudential Unveils ICICI Pru Platinum
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ICICI Prudential Unveils ICICI Pru Platinum

ICICI Prudential Life Insurance introduces ICICI Pru Platinum, the company's first unit-linked product (ULIP), aligns distributor payouts with customers' fund value, with distributor commissions linked to their assets under management. This unique product incentivises distributors to encourage their customers to stay invested for the entire policy tenure. Notably, it offers customers a cost and tax-efficient route to build wealth over the long-term. ICICI Pru Platinum provides unlimited free switches between asset classes, without any cost or tax implications. This product offers customers 21 funds, comprising 13 equity and four each in the debt and balanced categories, besides offering an option of four portfolio strategies. Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential...
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Nifty 50 index hits all-time high as Indian market cap surpasses USD 5 trillion
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Nifty 50 index hits all-time high as Indian market cap surpasses USD 5 trillion

Amidst the hustle and bustle of India's stock market, a momentous event unfolded on May 23, 2024, as the National Stock Exchange (NSE) soared past the elusive USD 5 trillion market capitalization milestone. The air was electric with excitement as the Nifty 50 Index reached an unprecedented high of 22,993.60, igniting dreams and aspirations across the nation. The journey to this extraordinary achievement has been a testament to perseverance and determination. From humble beginnings at USD 2 trillion in July 2017, the market capitalization climbed to USD 3 trillion by May 2021, and then USD 4 trillion by December 2023, showcasing India's unwavering resolve in the face of adversity. At the heart of this soaring success lie the stories of everyday Indians, whose hopes and dreams are int...
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Over 2,200 Telangana workers apply, 900 selected for Jobs in Israel
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Over 2,200 Telangana workers apply, 900 selected for Jobs in Israel

In response to Israel's urgent need for skilled labor amid the ongoing war with Palestine's militant organization Hamas, Telangana workers have come forward to fill the gap. Following a 4-day recruitment camp in Hyderabad, 2,209 workers volunteered for construction jobs in Israel. Among them, 905 workers have been chosen to join Israel's foreign labor force. Organised by the Telangana state government in partnership with the National Skill Development Corporation International (NSDCI), the recruitment drive focuses to address Israel's pressing demand for skilled workers. The recruited workers, comprising ceramic tilers, plasterers, carpenters and iron benders, are drawn by the lucrative pay offered by Israel's construction industry, with each worker expected to earn between Rs 1.2 l...
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Divi’s Laboratories Q4 results: Net profit jump 67% to ₹538 crore, revenue up 18% YoY; Dividend declared
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Divi’s Laboratories Q4 results: Net profit jump 67% to ₹538 crore, revenue up 18% YoY; Dividend declared

Divi's Laboratories Q4 results: Divi's Laboratories on Saturday, May 25 announced January-March quarter results for the financial year 2023-24 (Q4FY24), reporting 67.6% rise in net profit to ₹538 crore. Whereas last year it was ₹321 Crore. Same period last year. The pharma major's revenue from operations grew 18% to ₹2,303 Crore in Q4FY24, compared to ₹1,951 Crore in the year-ago period. The company's board also declared a dividend of ₹2 (at 1,500 per cent) per equity share at face value of ₹30 for the financial year ending March 31, 2024.
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ICICI Prudential Life sets industry benchmark; 99.17% claim settlement ratio in FY2024
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Business

ICICI Prudential Life sets industry benchmark; 99.17% claim settlement ratio in FY2024

ICICI Prudential Life revolutionizes claim settlement processes with unparalleled efficiency and transparency. The company's extraordinary performance in FY2024, boasting a remarkable 99.17% claim settlement ratio, has reshaped industry standards and cemented its reputation as a leader in customer-centric service.What sets ICICI Prudential Life apart is not just its impressive numbers but its commitment to expeditious and hassle-free claim settlements. With an average turnaround time of a mere 1.27 days for settling genuine death claims, the company has redefined the concept of prompt assistance during critical moments. Throughout the fiscal year, ICICI Prudential Life has maintained a consistent track record of excellence, with quarterly claim settlement ratios of 97.94% in Q1, 98.14%...
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