Author: Aberame

Apple Incorporates iPhones are mainly assembled by the Taiwanese manufacturing giant Wistron and Foxconn Technology Group. The Prominent and reputed organization in India, the Tata Group draws close to usurping a major plant in southern India thereby not only generating net profits but also pulling ahead to set the homeland for local contenders to surpass China’s dominance in electronics products. Tata is about to take over iPhone Tata group intends to utilize the opportunity intensely as the China government is imperiled by political tensions with the US and Covid-related hurdles. And also, Tata Group made this deal to bolster local…

HSBC Mutual Fund announced the launching of an open-ended equity scheme HSBC Multi Cap Fund which is being invested across large-cap, mid-cap, and small-cap stocks. The new fund offer (NFO) of the HSBC Multi Cap Fund will be available on market from 10th January to 24th January 2024. HSBC lauches multi cap funds The AMC stated the HSBC Multi Cap Fund was framed in a way to expand wealth creation extensively for the long term through investment in equity and equity-related securities across market capitalization. As a part of widening market capitalization, the idea was developed for providing long-term wealth…

BSE signed MoU with the Goa government, which aimed to advance the progression of small-scale medium enterprises by listing their shares and thereby obtaining the amount of capital market that is needed for the expansion and development of the business. BSE partnered with the Goa government to Create awareness amongst SMEs Stock exchange BSE partners with the Goa government to create awareness amongst SMEs statewide on the benefits of listing and directs them to raise capital through equity infusion. Owing to the memorandum of understanding MoU signed between BSE and the state government, “the Department of Industries and Commerce, Goa…

As received good responses through the introduction of Production linked incentives schemes, the government is about to apply the scheme to MacBook and iPad manufacturing sectors. The government sets to bolster the deal of manufacturing MacBooks and iPads in the country, has been keenly looking on encompassing the production-linked incentive (PLI) scheme for IT hardware to near or above Rs 20,000 crore against the existing outlay of Rs 7,350 crore as failed to attain the remarkable results. The recommendation for improving the outlay has already been sent by the Ministry of Information and Broadcasting to finance and other ministers to…

In November 2022, Foreign Portfolio Investors (FPIs) net investment into the Indian equity market was about a total sum of Rs 36,200 owing to the weak US dollar index and the influx of macroeconomic factors. FPI inflow in the equity market As china has been confronting the re-emerging pandemic situation, which has been reflected greatly in the international and domestic markets and that has conciliated a favorable condition for the Indian equity market, as per the report, FPIs (Foreign portfolio investors) have brought Rs 11,557 crore into the Indian equity market so far in December. Referring to the data with…

The Department of Personnel and Training (DoPT) has once again elongated the period of the LTC Block year 2018-21 to three months. Formerly, the employees who had not availed of the Leave Travel Concession (LTC) for four years had received a grace period up to 31st December 2022. LTC Rules for Central Government Employees by DOPT The LTC block year 2018-21 was deemed extended up to 31st December 2022 by the rule of 10 of the Central Civil Services (CCS) Rules 1988, the DoPT said in an Office Memorandum dated 27th December is now extended for three months till March…

The regulatory body of the Indian stock market, SEBI, is about to tighten the norms for mutual fund investors in the upcoming phase of initial public offerings (IPOs). The Securities and Exchange Board of India (SEBI) is looking at the possibility of implementing stringent norms for investment by mutual funds (MF) in initial public offerings (IPOs). The guidelines will be compiled with the standards that direct the process of allocating shares to various schemes, following up on the post-allotment, and laying out the steps to carry out the due diligence process during the IPO investment period. By referring to the…

The electronics industry wants the government to rationalize tariffs and disengage the smaller “nuisance tax” of about 2.75% on parts and components of mobile phones, sub-assemblies, and mechanics, as well as expecting to reduce Goods and Service Tax (GST) from 18% to 12%.  Electronics industry for rationalization tariffs in Union Budget 2024 In addition to the above, the electronic industry also expects the basic customs duty on high-end phones levy at 20% to be capped at Rs 4,000 per device, in a bid to check the smuggling of high-end phones and add Rs 1,000 crores to the GST collection of…

The Department for Promotion of Industry and Internal Trade (DPIIT) has sought reviews from 16 departments and ministers on its draft national retail trade policy, which targets the overall development of all formats of the sector. After receiving recommendations from all the departments to make the necessary changes, the Department for Promotion of Industry and Internal Trade (DPIIT) would seek approval from the Union Cabinet to proceed with the revised draft national retail trade policy. The policy would concentrate on designing forging strategies to provide a globally competitive and sustainable environment for the overall development of retail trade through targeted…

At the BFSI Insight Summit, the RBI governor Shaktikanta Das said the next financial crisis could come from cryptocurrency if decentralization carries on. He said cryptocurrency is now worth $140 billion, a loss of around $40 billion in valuation this year. Addressing the BFSI Insight Summit 2002 organized by the Business Standard, the RBI governor Shaktikanta Das admonished the public against crypto trading by stating that cryptocurrency has certain huge inherent risks to the country’s macroeconomic growth and financial stability. With this detail, he said the underlying economic activity in the country remains strong yet external factors will cause some…