May 20, 2024 -

Govt will Receive 30% More Dividend From Public Sector Banks in FY24

May 20, 2024

Public sector banks (PSBs) are poised to deliver approximately 30% higher dividends to the government in FY24 compared to the previous fiscal year. The total dividends from PSBs are estimated at ₹18,013 crore for FY24, a significant uptick from ₹13,804 crore in FY23, reflecting their robust financial performance. Top Dividend Contributors Leading the dividend payout …

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Bank of Maharashtra Tops Among PSU Banks in Business Growth in FY24

May 20, 2024

Bank of Maharashtra has emerged as a top performer among public sector banks, showcasing impressive growth in total business and deposit mobilization. With a 15.94% rise in total business and a 15.66% increase in deposits, it outshines competitors like State Bank of India. The bank’s focus on low-cost CASA deposits, coupled with robust loan growth …

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Nandini Dairy to Sponsor for Scotland for T20 World Cup

May 20, 2024

In a proud moment for Kannadigas and dairy farmers in Karnataka, the Scotland cricket team has unveiled its new ICC T20 World Cup jersey adorned with the Karnataka Milk Federation’s (KMF) Nandini logo. This collaboration signifies a significant milestone, bridging the worlds of cricket and dairy in a unique partnership. The Nandini Logo The Nandini …

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World’s First 6G Device Launched in Japan

May 20, 2024

In a world where speed and connectivity reign supreme, the race towards the next generation of wireless technology has reached a new milestone. A Japanese consortium has unveiled the prototype of what is touted to be the world’s first high-speed 6G device, promising data transfer rates at lightning speed. This groundbreaking innovation opens the door …

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Venezuela Becomes First Country to Lose All Glaciers

May 20, 2024

Venezuela has recently witnessed a poignant environmental milestone, marking a grim reality of the climate crisis. The nation has likely become the first in modern history to lose all its glaciers, with the reclassification of the Humboldt glacier as an ice field, its final icy vestige, earlier this month. This event serves as a stark …

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Fusion Micro Finance Secures $25 Million Loan from US International DFC

May 20, 2024

Fusion Micro Finance has obtained a $25 million loan from the United States International Development Finance Corporation (DFC) to fuel its expansion plans, primarily focusing on empowering rural women entrepreneurs. The initial disbursement of $20 million, part of an eight-year loan, aims to enhance business operations and advance financial inclusion efforts. Expansion Strategy and Loan …

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RXIL’s TReDS Platform Surpasses INR 1 Trillion in MSME Invoice Financing

May 20, 2024

India’s MSME sector, contributing over 30% to the GDP and employing approximately 12 crore people, faces a significant credit gap of around Rs. 28.2 lakh crores. RXIL’s Trade Receivables Discounting System (TReDS) platform has achieved a milestone by facilitating financing of over 50 lakh invoices worth ₹1,00,000 crore since its inception. This milestone underscores the …

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Rising Thermal Coal Imports Amidst Escalating Summer Heat Waves

May 20, 2024

In April 2024, India witnessed a surge in thermal coal imports, marking a five-month high, driven by increasing temperatures and forecasts of prolonged heat waves. Data from Kpler reveals a consistent uptrend in imports, with April shipments hitting 16.23 million tonnes, an 11% month-on-month and 10% year-on-year increase. Demand Surge and Analysis The rise in …

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Mukesh Ambani and Gautam Adani Secure Positions Among the World’s Top 15 Super Rich

May 20, 2024

Mukesh Ambani and Gautam Adani have made it to the top 15 world’s super-rich list of the Bloomberg Billionaires Index. This marks a significant achievement, especially for Gautam Adani, who reclaimed his position after losing it in 2023 due to short selling in his company’s stock. Notably, for the first time, all individuals in the …

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RBI Approves Appointment of Pradeep Natarajan as IDFC FIRST Bank’s Whole Time Director

May 20, 2024

The Reserve Bank of India (RBI) has given its nod for the appointment of Pradeep Natarajan as Whole Time Director on the Board of IDFC FIRST Bank, marking a significant development for the private sector lender. The approval, granted for a tenure of three years, underscores the bank’s commitment to strengthening its leadership team. Appointment …

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Daily Archives: May 20, 2024

Govt will Receive 30% More Dividend From Public Sector Banks in FY24

Bank of Maharashtra Tops Among PSU Banks in Business Growth in FY24

Nandini Dairy to Sponsor for Scotland for T20 World Cup

World’s First 6G Device Launched in Japan

Venezuela Becomes First Country to Lose All Glaciers

Fusion Micro Finance Secures $25 Million Loan from US International DFC

RXIL’s TReDS Platform Surpasses INR 1 Trillion in MSME Invoice Financing

Rising Thermal Coal Imports Amidst Escalating Summer Heat Waves

Mukesh Ambani and Gautam Adani Secure Positions Among the World’s Top 15 Super Rich

RBI Approves Appointment of Pradeep Natarajan as IDFC FIRST Bank’s Whole Time Director

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