LARGIE

RBI chief Shaktikanta Das has said that the decision to adjust policy rates was not in his hands, as he is driven by the situation on the ground. RBI hit the pause button in April and decided to keep the key benchmark policy rate at 6.5%. The governor also assured that the Indian banking system remains stable. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GRoEWdp via IFTTT

The S&P 500 benchmark index declined 1.12% to finish at 4,145.58 points, and the Nasdaq Composite fell 1.26% while the Dow Jones Industrial Average slid 0.69% to 33,055.51 points. Meanwhile, Federal Reserve minutes from a meeting in early May are due on Wednesday, which may determine interest rate changes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Iu9yTO7 via IFTTT

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No great rush was witnessed for exchange when branches opened. Outlets of private sector banks in metro cities in the early hours had business as usual. According to a senior official of a public sector bank, not much rush is seen so far because there is a window of four months for exchange. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2nuTDpx via IFTTT

All 10 Adani Group stocks are on the rise, with Flagship Adani Enterprises and Adani Ports leading. Investors have responded positively to Supreme Court-named panel's report, which found no evidence of stock-price manipulation following a January report by US short seller Hindenburg Research. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1vi604l via IFTTT

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Indian shares rose for a second day, with the Nifty 50 index closing 0.61% higher and the S&P BSE Sensex rising 0.38%. The metals index jumped over 3%, with Adani Enterprises Ltd leading, and the IT index rose 2.49%. Individual stock increases included a more than 5% jump in Divi's Laboratories Ltd after a Jefferies upgrade. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XHgOAQu via IFTTT

Facebook owner, Meta Platforms Inc, has been fined a record €1.2bn ($1.3bn) by the European Union (EU) over concerns it failed to protect personal data from the US. The Irish Data Protection Commission criticised Facebook for not addressing “the risks to the fundamental rights and freedoms” of users whose data was transferred across the Atlantic. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/t2Ai0xG via IFTTT

The RBI chief said that Rs 2,000 currency notes accounted for just 10.8% of the total currency in circulation, and emphasised that the impact of the move on the economy will be "very very marginal" since the country’s currency management system is highly robust. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xEYZlzv via IFTTT

SBI has decided against seeking any identity proof from those exchanging Rs 2,000 notes and has also dispensed with the need to fill up any form. Several other banks have, however, not decided on the process that they would adopt during the four-month-long exercise to exchange and deposit the highest denomination notes from Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/G8uHlPk via IFTTT

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India's foreign exchange reserves continue to rise and are edging towards $600 billion, hitting a nearly one-year high.In the week that ended on May 12 for which data is available, the reserves rose by $3.553 billion to $599.529 billion.Prior to the May 12 week, they rose by $7.196 billion to $595.976 billion, RBI data showed. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5ONTPsK via IFTTT

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RBI has announced the withdrawal of the Rs 2,000 banknote introduced in the wake of demonetisation in 2016. The withdrawal does not change their legal status. However, RBI has encouraged the public to exchange or deposit these notes with banks. Here is what you need to know about the process: from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/m3zxOis via IFTTT

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“In India, Flipkart’s commerce platform continues to scale…expanding its reach in tier two and three cities. Flipkart’s ekart business now includes more than 35,000 kirana partners. The team continues to expand their products and services. In India, Flipkart had strong topline results,” executive vice-president and chief financial officer John David Rainey during the company’s earnings call. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jBJKgmi via IFTTT

The Adani Group is facing a tough week as two of its entities have been dropped from the indexes of MSCI and concerns over potential dilution from a fundraising plan have wiped out $10.1 billion in market value. This could trigger around $390 million of selling by global passive funds later this month. Flagship firm Adani Enterprises is also set for a weekly loss of almost 4%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PzcNL4A via IFTTT

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The S&P 500 gained 0.9%, adding to its rally from the day before as hopes rise further that the US government can avoid a disastrous default on its debt. The Dow Jones Industrial Average added 115 points, or 0.3%, while the Nasdaq composite climbed 1. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YbJd6wX via IFTTT

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Montana has passed a law banning Chinese-owned TikTok from operating in the state. The app will not be available on Apple and Google's app stores within the state, but individuals will be able to use it. The ban is to take effect January 1, 2024, and is almost certain to face legal challenges. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/PakGOu5 via IFTTT

The US stock market rose sharply on Wednesday, with regional bank shares leading the way as investors regained confidence in the sector's health. President Joe Biden and top US congressional Republican Kevin McCarthy reiterated their determination to strike a deal soon to raise the debt ceiling. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7kg4Jxp via IFTTT

The Supreme Court asked Sebi to submit by August 14 the status of probe into Hindenburg's allegations of stock price manipulations against Adani group companies but refused to convert the court proceedings into a roving inquiry, including investigations into the alleged role the LIC, which had invested a substantial amount in Adani companies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X1QtzGR via IFTTT

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US stock indexes closed lower on Tuesday due to weak consumer spending, a disappointing forecast from Home Depot and uncertainty surrounding interest rates and debt limit negotiations. Home Depot declined 2.15%, causing the company to cut its annual sales forecast while retail sales for April rose by 0.4%, below the estimated increase of 0.8%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HQ7AE6o via IFTTT

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Benchmark equity indices pared their opening gains and declined in early trade on Tuesday, dragged down by index major HDFC twins.In a volatile trade, the 30-share BSE Sensex declined 146.79 points to 62,198.92 even after beginning the trade on a firm note. The NSE Nifty dipped 32.15 points to 18,366.70. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/T6GvmDt via IFTTT

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The Dow and S&P 500 closed slightly higher on Monday, while the Nasdaq rose over 0.5%. A fall in manufacturing data contributed to concern over the US economy's growth, which could lead to a decrease in inflation. However, shares of Meta Platforms gained over 2%, providing a boost for the markets. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/84lAXbM via IFTTT

Wholesale price-based inflation declined for the first time in nearly three years in April due to a high base and moderating prices of commodities. The development prompted economists to say that the RBI is likely to continue with its pause on interest rates. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CUSOjZm via IFTTT

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The aviation ministry had in October 2018 sought comments on the CTC Bill 2018 to implement the treaty India had signed in 2008 to basically assure lessors their expensive assets like aircraft and engines will not get stuck here when Indian carriers default on paying rentals or go belly up. However the move has remained stuck since then. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LevoANT via IFTTT

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