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Kerala Budget: Importance Given To The IT Sector; Check Out The Quick Summary

Pooja YadavMarch 14, 20220

In the budget of Kerala that was presented by government minister KN Balagopal, importance has been given to the IT sector of the state, with the main target being given to the futuristic 5G networks. Summary: Expeditious steps are going to be initiated by the Kerala government to bring the 5G system to the state and to maneuver forward rapidly within the service sector. Infrastructure development of the IT sector was another important announcement. Other important announcements IT Corridors Along with the prevailing NH 66, four IT corridors are made parallel to that as a part of decentralizing the state’s IT sector. there'll be four lanes within the corridors which is able to be Koratty-Ernakulam, Thiruvananthapuram Technopark phase-III-Kollam, Kozhikode-Kannur, and Ernakula...

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Centre Appoints Madhabi Puri Buch As First Woman Chairperson Of SEBI

Pooja YadavMarch 4, 20220

The Centre has appointed Madhabi Puri Buch as the first woman chairperson of the Securities and Exchange Board of India (SEBI) on February 28. She was previously the head of ICICI Securities. In between 2017 to 2021, she also served in SEBI as an entire Time Member. Now, she is going to replace Ajay Tyagi as the chairperson of SEBI. Ajay Tyagi is a 1984 batch IAS officer from the Himachal Pradesh cadre. He was appointed as SEBI Chairperson for 3 years, on March 1, 2017. He was given a six-month extension. Later, his tenure was extended by 18 months in august 2020.   The finance ministry had invited applications from eligible candidates for the post of SEBI Chairperson in October 2021. The deadline to submit the shape was December 6, 2021. As per the procedure for a...

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New Development Bank To Set Up India Office In Gujarat Tech City

Pooja YadavMarch 4, 20220

  The New Development Bank (NDB) will now open its office in the Gujarat International Finance Tech (GIFT) city in May 2022.  The India office will help in identifying suitable projects and check out to form a pipeline of potential financing for the bank. NDB is additionally expected to partner with the newly launched National Bank for Financing Infrastructure and Development (NBFID), during a bid to support crucial infrastructure projects across India. The New Development Bank was founded by BRICS countries (Brazil, Russia, India, China, and South Africa) in 2014. It aimed at mobilizing and utilising resources for infrastructure and sustainable development projects in BRICS and emerging markets. The bank became operational in 2015. It is headquartered in Shanghai, China ...

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Inflation Amid Russia-Ukraine Tensions Likely To Spoil Kitchen Budget

Aditi priya singhMarch 4, 20220

Amid Russia-Ukraine tensions, not only has crude oil reached a record high, but now edible oil is also taking a toll on the pockets of customers. The inflation may increase further in the coming days. In Delhi, the price of palm oil has increased by Rs 20 to 25 in 15 days. Soya, sunflower and groundnut oil prices have also hiked. The price of mustard oil is already close to Rs 200 per litre. Overall, cooking oil is already expensive due to limited global supply and now the Russia-Ukraine war has added fuel to the fire. 65% of the edible oil consumed in the country has to be imported and about 60% of the imported oil is palm oil. All palm oil is imported from Malaysia and Indonesia and this year there is also a limited supply. The crude palm oil production in Malaysia declined ...

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Ukraine Crisis: ExxonMobil Announces To Stop Sakhalin-1 Project In Russia

Sonia SolankiMarch 2, 20220

Amid the Ukraine-Russia war, ExxonMobil becomes the latest oil company to announce its discontinuation in Russia. Before ExxonMobil, British Petroleum (BP) and Shell had declared to end their association with Russia in the wake of its invasion of Ukraine. In the official statement, ExxonMobil said, "ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future." "In response to the recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture," the statement added. ExxonMobil And Other Oil Companies In Russia ExxonMobil is working on three oil and gas fields near the eastern Russian island of Sakhalin in partnership with Rosneft, a state-controlled energy company. ExxonMobil...

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Russia-Ukraine War: Automobiles To Become Expensive For India; Check Out Reasons

Aditi priya singhFebruary 28, 20220

People in Ukraine are trying to save their lives in the shadow of fear. But do you know what effect this war will have on India in terms of the automobile industry? Experts believe that the biggest impact of this is going to be on the purchase of vehicles. It is being said that those who are making up their mind to buy a vehicle recently, may have to pay a higher price. It is being said that some parts of the vehicles are imported from Ukraine and Russia. Their delivery will stop for a few days. Therefore, there is a possibility of a jump in the prices of vehicles. Not only this, but the delivery of vehicles is also being claimed to be delayed. According to media reports, the prices of aluminium, which is the main material in vehicle manufacturing, have also reached a record h...

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Mysterious Yogi: CBI Arrests Anand Subramanian In Relation With Market Manipulation Case

Pooja YadavFebruary 26, 20220

The CBI has arrested former group operating officer of National stock market (NSE) Anand Subramanian after expanding its three-time inquiry into the fraud within the exchange. It is seeable of “fresh data” that came up during a genuinely disastrous SEBI report relating a mysterious yogi who was guiding the conduct of former CEO Chitra Ramkrishna and other irregularities, officers said on Friday. Subramanian was taken into custodianship late Thursday night in Chennai, Tamil Nadu. The agency will produce him before a court in Chennai for his conveyance remand to bring him to Delhi once the plea is granted. The CBI will bring him to the city and produce him before a special court to seek his custodial remand to question the inapplicability of the case at its headquarters. An ins...

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India May Suffer A Loss Of Rs 1 Lakh Crore Amid Russia-Ukraine War: Expert

Gunjan ChaudharyFebruary 26, 20220

Tensions are rising up in front of the world since Russia declared war against Ukraine. Oil has become expensive and it can cause a loss of up to Rs 1 lakh crore to India. After the attack by Russia on Ukraine, the price of crude oil has reached the maximum level of $105 per barrel. According to a new research report by the State Bank of India (SBI), if the war drags on, the government's revenue may decrease by Rs 95 thousand crores to one lakh crore in the upcoming financial year. Prices of all goods and products will be affected, leading to a rise in domestic inflation in India. Japanese research company Nomura has also claimed that India will suffer the most in the Asian region because of this crisis. Even according to the report of Soumya Kanti Ghosh, group chief economic advisor, S...

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Inflation Following Russia Attack: Smartphones, Houses And Crude Oil To Become Expensive; Check Out Reasons

Aditi priya singhFebruary 25, 20220

Russia's attack on Ukraine may give to inflation in several places across the world. If we talk about electronic gadgets like laptops and smartphones, these products will be affected as well as the houses and crude oil prices will shoot up. According to a report, 90% of semiconductor grade neon is supplied to the US from Ukraine and 35% of Palladium is supplied from Russia to America. Both of these products are very important in assembling chips or memory cards. Now, in such a situation of War, the supply may be stopped which can affect manufacturing and will cause global inflation in electronic gadgets. Japan has expressed concerns over this matter.  Due to this war, oil, cement and many other items will become expensive. Meanwhile, realtors body CREDAI has said that housing pri...

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NSE Racket: Truth About ‘Himalayan Yogi’; Aligns With Subramanian Recruitment

Monomita NagFebruary 23, 20220

In the light of the former NSE CEO  Chitra Ramakrishna and the mysterious 'Himalayan Yogi', ex-SEBI chairman M Damodaran's comments carry much weight. He openly said that confidential information was sent to an unauthorized person, coupled with multiple governance failures at NSE. All of these impacted India's capital market enormously. He asked, "How did Anand Subramanian come on board?  Who recommended him to the board?" He insisted that these vital questions have to be answered first. Earlier, it was reported that Ramakrishna was receiving all directions regarding NSE governance from the Himalayan Yogi. A forensic audit by a consultancy firm stated that this Yogi was no other than Subramanian himself. Who Is This Mysterious Yogi? Anand Subramanian was appointed to the NSE as th...

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IRCTC Collaborates With RuPay For Contactless Payments; Learn Hegemony Of Domestic Payment System

Pooja YadavFebruary 22, 20220

IRCTC has collaborated with RuPay for contactless payments and credit payments. There are many institutions collaborating with RuPay nationally and internationally. What we need to understand that how this card system has created a hegemony and captured a major shareholder in the market. There was a time most of the online transactions were done through VISA and MasterCard, which are foreign companies. These companies used to store data related to every transaction in their servers located in foreign countries. It also collects per transactions charges from our banks to enable card-based transactions. RuPay emerged as the largest shareholder in India's debit card market. It has threatened the existence of international associations and today, they have been forced to complain US go...

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Free Fire Ban: Singaporean Company Faces Indian Wrath For Having Chinese Connections

Monomita NagFebruary 21, 20220

After banning 54 Chinese apps on the grounds of national security, India is now punishing a Singaporean Company, Sea group, making it lose 16 billion in a single day. Free Fire, one of the most profitable titles for the group, was banned, thus indicating New Delhi's sweeping change in its policy against anything Chinese. This of course is the first such action by India against Singapore. Reasons To Target Sea Group The management of the company was taken aback by this action which put it to face an unprecedented loss. New Delhi targeted Chinese companies but Sea Group is not Chinese. Its founder was no doubt born in China but he is not a Chinese citizen, on the contrary, he is a citizen of Singapore and the comoany is listed on New York Stock Exchange. Hence, the company is in no way...

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