Editorji is your personalised video news platform, we learn about your interests in order to show the news that matters to you! Watch it on your phone, tablet or TV.

ABOUT US

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Avalanche in Sonamarg

In a tweet, Kotak Bank CEO, Uday Kotak highlighted the importance of risk-return assessments, saying that UBS' takeover of Credit Suisse is a signal for all bankers. 

'A signal for bankers', Uday Kotak on UBS takeover of Credit Suisse

"A signal for bankers", Uday Kotak on UBS takeover of Credit Suisse

In a tweet, Kotak Bank CEO, Uday Kotak highlighted the importance of risk-return assessments, saying that UBS' takeover of Credit Suisse is a signal for all bankers.&nbsp;

Veteran banker and CEO of Kotak Mahindra Bank reacted to UBS' takeover of Credit Suisse. Underscoring the importane of risk-return assessment, he said that this development was a signal for all bankers and stakeholders not to become obsessed with "size".&nbsp;
"Credit Suisse sold to UBS for 3 bn $. 60%discount to stock value at Friday closing. ~600 bn $ balance sheet sold for 3 bn $ equity value. 17 bn $ of AT1 bonds written off. A signal for all bankers and stakeholders, when risk return matrix is overtaken by obsession with size", tweeted Kotak.&nbsp;
Banking giant UBS is buying troubled rival Credit Suisse for almost USD 3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system.
Swiss authorities pushed for UBS to take over its smaller rival after a plan for Credit Suisse to borrow up to 50 billion francs (USD 54 billion) failed to reassure investors and the bank's customers.&nbsp;

After plunging over 30% on Wednesday, shares of Credit Suisse saw a massive spike after a $54 billion lifeline. In a statement, Credit Suisse said it would exercise an option to borrow up to 50 billion Swiss francs from the Swiss National Bank 

Credit Suisse shares spike sharply after $54 billion lifeline 

After plunging over 30% on Wednesday, shares of Credit Suisse saw a massive spike after a $54 billion lifeline for the bank from the Swiss National Bank 

After plunging over 30% on Wednesday, shares of Credit Suisse saw a massive spike after a $54 billion lifeline for the bank from the Swiss National Bank&nbsp;

Crisis-hit Credit Suisse has been struggling and facing extreme volatility amid doubts over its financial stability.....until the Swiss central bank stepped in, throwing the bank a massive $54 billion lifeline.
In a statement on Thursday (16th March), Credit Suisse said it is "taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank up to CHF 50 billion under a Covered Loan Facility as well as a short-term liquidity facility, which are fully collateralized by high quality assets."&nbsp;
On Wednesday, shares of Credit Suisse plummeted to a new all-time low over worries about a contagion effect of the U.S banking crisis.&nbsp; To calm fears, the Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank issued a joint statement. The statement said that the U.S banking crisis did not pose a direct contagion risk for the Swiss financial markets. Specifically, on Credit Suisse, the statement said that the bank meets the capital and liquidity requirements and that if necessary, SNB would provide CS with liquidity. Following the lifeline that was thrown to Credit Suisse, shares of other major European banks, which had also plunged on Wednesday, saw a strong recovery on Thursday.&nbsp;

India's largest lender, State Bank of India has increased lending rates effective March 15th. The benchmarch prime lending rate (BPLR) and base rate have been hiked by 0.7%

Your EMIs set to go up as SBI hikes lending rates

India's largest lender, State Bank of India has increased lending rates effective March 15th. The benchmarch prime lending rate (BPLR) and base rate have been hiked by 0.7%

Get ready to pay more for your loan EMIs. India's largest lender, State bank of India has hiked lending rates by 70 basis points or 0.7%.&nbsp;
SBI has hiked its benchmark prime lending rates or BPLR by 0.7% to 14.85% from 14.15% currently. Loans linked to BPLR will now become more expensive.&nbsp; The bank has also hiked its base rate by 0.7% to 10.10%. The increased interest rates will be effective from Wednesday, March 15th.&nbsp; SBI last revised the rates in December 2022.&nbsp; This hike in lending rates by SBI comes ahead of RBI's credit policy meet in the first week of April. Given that retail inflation is still higher than RBI's comfort zone, experts say another repo rate hike is likely on the cards.&nbsp;
Other banks are also likely to follow suit and raise lending rates in the days to come.&nbsp;

Retail inflation has eased slightly to 6.44% in February versus 6.52% in January. However, it remains above the upper end of the Reserve Bank of India's comfort zone. 

Retail inflation eases marginally to 6.44% in February 

Retail inflation has eased slightly to 6.44% in February versus 6.52% in January. However, it remains above the upper end of the Reserve Bank of India's comfort zone.&nbsp;

Consumer Price Index or retail inflation has come in at 6.44% for the month of February, which is higher than what economists were expecting. Although this number is marginally lower than January's 6.52%, it is still well above the upper end of Reserve Bank of India's target of 6%.&nbsp;
Food inflation came in at 5.95%, within foods it was cereals that saw the highest spike, coming in at 16.73%. Meanwhile prices in the fuel and light segment rose by 9.9%.&nbsp; Core inflation has remained above the 6% mark for over a year now.
RBI has been aggressively increasing the repo rate in an effort to curb inflation. Interest rates have been hiked by 250 basis points (2.5%) since May 2022. In the previous credit policy announcement, RBI governor Shaktikanta Das made it clear that further rate hikes could not be ruled out. The governor also said that inflationary pressures remained a concern and that the there would be no easing up in the fight against inflation.&nbsp;

The Silicon Valley Bank collapsed within a period of two days. Here's the sequence of events that led to the largest banking collapse since 2008 

Silicon Valley Bank Collapse: The timeline & how it happened

The Silicon Valley Bank collapsed within a period of two days. Here's the sequence of events that led to the largest banking collapse since 2008&nbsp;

Its perhaps the biggest bank failure since the Global Financial Crisis of 2008. The Silicon Valley Bank (SVB) collapse has sent shockwaves across the globe and has far-reaching ramifications.
So, how did one of the biggest banking collapses in the history of the U.S actually happen?
Silicon Valley Bank amassed huge deposits in 2021. As per the Federal Deposit Insurance Corporation, SVB had over $175 billion in deposits as of December 31st 2022 and over $200 billion in total assets.
SVB invested heavily in bonds which were being issued when interest rates were very low due to the covid pandemic. As per reports, SVB&rsquo;s balance sheet for 2022-end showed $91.3 billion of securities.&nbsp; But, as the world emerged out of the pandemic, inflation reared its head, soaring to 8.2% in October 2022. This was the highest inflation that the U.S had seen in over 4 decades. In response, the Federal Reserve began raising interest rates. Fed Chairman, Jerome Powell, made it very clear, that interest rates had to go up, to clamp down on inflation.&nbsp;
As a result of rising interest rates, the value of SVB's bond holdings, which were issued at lower rates, began falling. At the same time, many startups, who were the bank&rsquo;s customers, began withdrawing deposits to survive, amid a funding crunch. As a result, SVB was forced to sell whatever bonds it could, at a loss. On Wednesday, 8th of March, SVB sold $21 billion worth of bond assets at a loss of $1.8 billion. The bank also announced that it was conducting a capital raise. Despite this announcement, there was a wave of withdrawals from the bank.&nbsp;
Meanwhile, on the 8th of March, crypto-focussed lender &ndash; Silvergate bank said it planned to wind down operations and liquidate because of heavy losses following the collapse of crypto exchange FTX. This caused another wave of fresh withdrawals on Thursday followed by the SVB stock in a downward spiral, crashing over 60%.&nbsp;
As per a regulatory filing, SVB had a negative cash balance of $958 million at the end of business on 9th of March. The filing also said that &ldquo;despite the bank being in sound financial condition prior to March 9th, investors and depositors reacted by withdrawing $42 billion of deposits, causing a run on the bank&rdquo;. This massive withdrawal, led to the bank becoming insolvent and unable to payoff its obligations.
On Friday, March 10th, Federal Deposit Insurance Corporation (FDIC) announced that SVB &ldquo;was closed today by the California Department of Protection and Innovation, which appointed the FDIC as receiver&rdquo;. FDIC also said that all insured depositors would have full access to their deposits until Monday, March 13th. However, the insured deposits have a cap of $250,000. Anyone who has over $250,000 in their accounts are required to call a toll-free number. Going forward, FDIC will oversee the sale of the assets of SVB. The uninsured depositors will be paid dividends from the asset sale.&nbsp;

The collapse of the Silicon Valley Bank could have repercussions for Indian startups too. Several Indian startups have higher deposits in SVB, than what is insured by the Federal Deposit Insurance Corporation.

Silicon Valley Bank collapse: Impact on Indian startups 

The collapse of the Silicon Valley Bank could have repercussions for Indian startups too. Several Indian startups have higher deposits in SVB, than what is insured by the Federal Deposit Insurance Corporation.

The collapse of Silicon Valley Bank (SVB) has sent shockwaves across the globe. One of the biggest bank failures since the 2008 global financial crisis, the collapse of SVB has far-reaching ramifications. This includes a significant impact on the Indian startup ecosystem.&nbsp;
SVB has been one of the preferred bank of startups and venture capitalists globally. Several Indian startups have exposure to the bank. In fact a large number of Indian startups, especially in the SaaS sector that services U.S clients, have accounts and deposits at the bank. Reports say that Indian startups have over $250,000 parked at SVB, this is more than what is insured by the Federal Deposit Insurance Corporation (FDIC).&nbsp;
"All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023", said FDIC in a statement that also asked customers with accounts that had over $250,000 to contact a toll-free number.&nbsp;
The other fallout of the SVB bank collapse will also impact the fundraising ability of Indian startups as the bank was a key source of funding for tech startups. As per reports, SVB has invested in several Indian firms including InMobi, Carewale, and Bluestone among others. For these companies, their raised funds could get stuck and lead to a cash crunch.
Also watch: <a href="https://www.editorji.com/business-news/markets/silicon-valley-bank-shut-down-a-look-at-biggest-banking-failures-since-2008-1678526214050">Silicon Valley Bank collapse: a look at biggest banking failures since 2008</a> A combination of all these factors will further exacerbate the rough weather and a funding crunch that Indian startups were already facing. In fact, in the last few months, Indian startups have already been cutting costs and announcing layoffs, a situation that may only worsen going forward.&nbsp;&nbsp;
As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits.&nbsp;
&nbsp;

Data from the Association of Mutual Funds of India reveal that equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February. 

Equity mutual fund inflows at 9 month high, debt fund outflows continue

Equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February. The category witnessed outflows of Rs 13,815 crore for the month.  

Data from the Association of Mutual Funds of India reveal that equity fund inflows in February came in at a 9 month high of Rs 15,685 crore. On the other hand, outflows from debt funds continued in February.&nbsp;

Equity mutual fund inflows continued to surge in the month of February. Data from the Association of Mutual Funds of India (AMFI) shows net inflows into equity funds stood at Rs 15,685 crore, which is around 25% higher than the 12,546 crore equity fund inflows in January. This is the highest in the past 9 months.&nbsp; Within the equity funds, small cap funds continued to see strong inflows of Rs 2,246 crore, almost similar to the figure in January. Mid cap fund flows increased to Rs 1816 crore versus Rs 1628 crore in January.&nbsp;
Meanwhile, debt mutual funds continued to see outflows. For the month of February, debt fund outflows stood at Rs 13,815 crore. This is higher than the 10,316 crore outflows in January.&nbsp;
The total Assets Under Management (AUM) shrunk slightly and stood at Rs 39.46 lakh crore in February versus Rs 39.62 lakh crore in January.&nbsp;

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inactive.

SEBI's reminder for PAN-Aadhaar linkage by March 31st 

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inoperative. 

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inactive.&nbsp;

Capital markets regulator SEBI has asked all investors to ensure that the linking of PAN and Aadhaar is done before the 31st of March 2023. Any account that fails to do this, will become inopertive and will be considered non-KYC complaint.&nbsp;
In its notification, SEBI says that the PAN-Aadhaar linking must be done before March 31st, "for continual and smooth transactions in securities market and to avoid consequences of non -compliance with the said CBDT circular".&nbsp; The Central Board of Direct Taxes (CBDT) issued a circular in March 2022 which said the PAN allotted to a person would become inoperative if it is not linked with Aadhaar by March 31, 2023, and would be liable to all the consequences under the Income-tax Act, 1961, for not furnishing, intimating or quoting the PAN. 
&nbsp;
&nbsp;

International women's day is celebrated on March 8th. A key aspect of woman empowerment is financial independence. As we celebrate women's day, here's a look a some of the investment avenues and benefits available to women. 

Women's Day Special: Investment avenues for women 

International women's day is celebrated on March 8th. A key aspect of woman empowerment is financial independence. As we celebrate women's day, here's a look a some of the investment avenues and benefits available to women.&nbsp;

On the occasion of Women's Day, celebrated on the 8th of March, here are some of the government schemes and investment benefits aimed at enabling women gain financial freedom.&nbsp;
Mahila Samman Savings Certificate (MSSC): Budget 2023 announced a new small savings scheme exclusively for women. Here are the details of the scheme:
<ol>
<li>This is a one-time scheme available for 2 years beginning April 1st 2023 until March 2025.</li>
<li>Interest rate of 7.5% will be offered for this scheme.</li>
<li>The maximum investment limit for this scheme is Rs 2 lakh.</li>
<li>The scheme has a partial withdrawal facility as well.</li>
<li>Small savings schemes are usually eligible for tax exemption under section 80 C.&nbsp;</li>
</ol>
Sukanya Samriddhi Yojana: This scheme was launched with the aim of securing the future of a girl child. The account for this scheme can be opened in the name of a girl child by her parents or legal guardian at any time, before she turns 10. Here are the details of the scheme:
<ol>
<li>Only one account per girl child is allowed.</li>
<li>Currently, the interest rate is 7.6%, but this is subject to changes every 3 months.</li>
<li>Minimum investment of Rs 250 and a maximum investment of Rs 1,50,000 can be made per financial year.</li>
<li>Minimum deposit of Rs 250 needs to be made every year for 15 years.&nbsp;</li>
<li>The scheme matures after the completion of 21 years from the account opening.</li>
<li>Partial withdrawal of 50% can be done for marriage (after the age of 18) or higher education of the girl child.</li>
<li>The scheme qualifies for deduction under section 80 C and the interest on the investment is also exempt from tax.&nbsp;</li>
</ol>
Benefits while buying real estate:&nbsp; There are several benefits that Indian women can avail of while buying real estate. This includes:&nbsp;
<ol>
<li>To avail homes under the government&rsquo;s Pradhan Mantri Awas Yojna (PMAY), homes have to be registered either in a woman&rsquo;s name or with a woman as co-owner.</li>
<li>Lower stamp duty: Stamp duty charges are lower if the property is registered in a woman's name. However, this benefit varies from state to state.</li>
<li>Many banks offer a lower interest rate for home loans to women.&nbsp; &nbsp;</li>
</ol>
&nbsp;

Amid a boom in the real estate residential market, a survey finds that women make up a key homebuyer segment with 65% of women preferring to invest in real estate while just 8% favour gold as an investment. 

Gold loses lustre as women prefer investing in real estate, shows survey 

Amid a boom in the real estate residential market, a survey finds that women make up a key homebuyer segment with 65% of women preferring to invest in real estate while just 8% favour gold as an investment.&nbsp;

Women in India are increasingly favouring investing in real estate compared to other avenues. A recent survey by Anarock property consultants found that 65% of women homebuyers prefer to invest in real estate, followed by 20% favouring the stock market. Just 8% of women respondents prefer investing in gold and 7% prefer FDs.
The survey revealed that 77% of women homebuyers buy homes for end-use, while 23% buy for investment. This is a shift from the previous survey, which showed that 82% of women bought homes for end-use, and 18% for investment. The survey also shows that 83% of the women respondents were looking for homes priced above Rs 45 lakh. The sweet spot for 36% of women home seekers is the Rs 45-90 lakh budget range, while 27% prefer premium homes priced between Rs 90 lakh and Rs 1.5 Cr, and 20% prefer luxury homes priced above Rs 1.5 Cr.&nbsp;
There are several benefits that Indian women can avail of while buying real estate. This includes:&nbsp;
<ol>
<li>To avail homes under the government&rsquo;s Pradhan Mantri Awas Yojna (PMAY), homes have to be registered either in a woman&rsquo;s name or with a woman as co-owner.&nbsp;</li>
<li>Lower stamp duty: Stamp duty charges are lower if the property is registered in a woman's name. However, this benefit varies from state to state.&nbsp;</li>
<li>Many banks offer a lower interest rate for home loans to women.&nbsp;</li>
</ol>
&nbsp;
&nbsp;
&nbsp;

Sovereign Gold Bond Scheme is open for subscription between March 6th and 10th. Experts recommend having atleast 5%-10% of allocation towards gold as a hedge against inflation and to diversify one's portfolio. 

Sovereign Gold Bond Scheme is now open: Here's all you need to know 

Sovereign Gold Bond Scheme is open for subscription between March 6th and 10th. Experts recommend having atleast 5%-10% of allocation towards gold as a hedge against inflation and to diversify one's portfolio.&nbsp;

For those who are looking to include gold in their portfolio, Sovereign Gold Bonds could be a good addition. The scheme is now open for subscription.&nbsp;
SGBs were introduced in 2015, as part of the gold monetization scheme. It is essentially a substitute to holding physical gold. SGBs are government securities which are denominated in grams of gold. So, each unit is equal to one gram of gold.&nbsp;
The Sovereign Gold Bond Scheme 2022-23 &ndash; Series IV, will be open for subscription from March 6th to March 10th. The issue price has been fixed at Rs 5,611 per gram of gold, which is over Rs 200 more than the December issue price, which was Rs 5,409. However, for investors who apply online and pay digitally, there is a discount of Rs 50 per gram. Post discount, the issue price would be Rs 5,561 per gram.&nbsp; Here are some important points to keep in mind while investing in SGBs:&nbsp;
<ol>
<li>The minimum investment for the scheme is 1 gram while the maximum investment is 4 kgs for individuals per financial year.&nbsp;</li>
<li>The interest rates on SGBs is 2.5% per annum&nbsp;</li>
<li>Interest is credited on a semi-annual basis.&nbsp;</li>
<li>SGBs are sold through designated post offices, stock exchanges, as well as banks. They can also be purchased online at a discount of Rs 50 per gram.&nbsp;</li>
<li>The tenor of these gold bonds are 8 years, however, investors can make a premature redemption after the 5th year on the date when interest is payable.&nbsp;</li>
</ol>
There are a several benefits of investing in SGBs. Let&rsquo;s take a look at some of them.&nbsp;
<ol>
<li>Interest rate of 2.5% per annum is over and above the benefit of a rise in gold prices.</li>
<li>Even if gold prices fall, investors get the 2.5% interest, which physical gold doesn&rsquo;t give.&nbsp;</li>
<li>SGBs can be transferred, used as a collateral for loans and even traded on stock exchanges if they are in demat form.&nbsp;</li>
<li>SGBs are tax-free, unlike physical gold where GST is levied on purchasing.&nbsp;</li>
<li>On maturity, no capital gains tax is levied.&nbsp;</li>
<li>SGBs are guaranteed by the govt, hence the risks are very low.&nbsp;</li>
<li>SGB is like holding physical gold, without the hassle or risk of storage.&nbsp;</li>
</ol>
While there are a lot of benefits of investing in SGBs, there are some downsides too.&nbsp;
<ol>
<li>The long lock-in period of an SGB might be a deterrent for some investors.&nbsp;</li>
<li>If you redeem early, capital gains will be applicable.&nbsp;</li>
<li>There is always the risk of a fall in gold prices, but that is the case with physical gold as well.&nbsp;</li>
<li>The interest earned on SGBs is fully taxable.&nbsp;</li>
<li>Although SGBs are tradable on the exchanges (post 6 months of being issued), secondary market trading volumes are usually quite thin. &nbsp; &nbsp; &nbsp;</li>
</ol>
Experts recommend having atleast 5%-10% of allocation towards gold, as it provides a good hedge against inflation.&nbsp;
"SGBs are one of the best replacements for physical gold. It works best for individuals who are preparing for a future events like their children&rsquo;s weddings. Along with the MTM price, one can also earn interest at 2.50% per annum on the initial investment. For those who choose to incorporate gold in the portfolio, one should keep in mind that it should not exceed more than 10% of the portfolios", says Feroze Azeez, Deputy CEO, Anand Rathi Wealth.&nbsp;
&nbsp;
&nbsp;
&nbsp;

Stocks of Adani group companies saw a big spike on the back of the promoters selling Rs 15,446 crore worth of shares to U.S based boutique investment firm GQG. 




Adani group stocks rally after GQG buys ₹15,4446 cr worth of stake 

Stocks of Adani group companies saw a big spike on the back of the promoters selling ₹15,446 crore worth of shares to U.S based boutique investment firm GQG




Stocks of Adani group companies saw a big spike on the back of the promoters selling Rs 15,446 crore worth of shares to U.S based boutique investment firm GQG.&nbsp;
&nbsp;

Adani group stocks shot up on Friday, after the promoters sold shares worth Rs 15,446 crore ($1.8 billion) in four of its listed entities. The buyer was GQG Partners, which is a U.S based global equity-investment boutique firm.&nbsp;
GQG partners bought shares worth Rs 5,460 crore in Adani enterprises, Rs 5,282 crore in Adani ports, Rs 2,806 crore in Adani Green and Rs 1,898 crore in Adani transmission.&nbsp; &nbsp;
The proceeds from the share sale will be used by promoters for reducing debt and other purposes.&nbsp; Jugeshinder Singh, Group CFO of Adani Group, said: &ldquo;We are delighted to complete this landmark transaction with GQG. We value GQG&rsquo;s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies.&rdquo; Since January 24th, when the Hindenburg research was released, Adani group has been battling the repurcissions of the allegations made by the report. The report accused Adani group of stock price manupulation and accounting fraud, allegations which the Adani group has strongly denied.&nbsp; Meanwhile, the Hindenburg-Adani row reached the top court. And on Thursday, the Supreme Court ordered capital markets regulator SEBI to conduct a thorough probe and complete the investigation within two months. The top court also appointed an expert committee to oversee the investigation and also to look into if there was any kind of regulatory failure or if mechanisms needs to be strengthened to protect investors.&nbsp;&nbsp;
&nbsp;

SEBI has identified 46 individuals using two YouTube channels who have been peddling false information to manipulate stock prices and lure investors. In the process makes crores worth of illegal gains. 

SEBI takes action against individuals using YouTube channel to manipulate stock prices

SEBI has identified 46 individuals using two YouTube channels who have been peddling false information to manipulate stock prices and lure investors. In the process makes crores worth of illegal gains.&nbsp;

Capital markets regulator SEBI has cracked down on two YouTube channels, passing interim orders against those that used these channels to manipulate stock prices and make illegal gains. Two YouTube channels run by one Manish Mishra, who was allegedly part of a larger nexus manipulating the share prices of Sadhna Broadcast Limited and Sharpline Broadcast. The two channels- &ldquo;The Advisor&rdquo; and &ldquo;Moneywise&rdquo; are accused of peddling false and misleading news recommending investors to buy the two stocks. &nbsp;
SEBI&rsquo;s interim orders came after its investigation basis complaints that alleged certain individuals were using YouTube to make certain stock recommendations, putting up false content backed by paid marketing campaigns and luring investors. Once investor&rsquo;s bought the stock and the stock price went up, those accused offloaded their holding at an inflated price, in the process, these individuals made illegal gains.&nbsp;
The total amount of illegal gains that these individuals made from the Sadhna Broadcast Limited stock is over Rs 41 crore and over Rs 12 crore from Sharpline Broadcast Limited&nbsp;
SEBI observed in one instance, in the case of Sharpline, the number of small shareholders increased from 517 to 20,019 in a period of a few months. Whereas in the case of Sharda Broadcast the number of small shareholders increased from 2167 to 55,343.&nbsp;
SEBI also noted that in one instance, both the YouTube channels recommended the same stock. The order says &ldquo;there is a high probability that the creators of the said YouTube channels may execute the same modus operandi vis-&agrave;-vis other scrips also.&nbsp;
All those named in SEBI&rsquo;s order have been banned from the securities market. The liability of the illegal gains is to be borne by the individuals. YouTube has also been directed to take down the videos.&nbsp;
Bollywood actor Arshad Warsi and his wife Maria Goretti Warsi have also been penalised in relation to the case.
&nbsp;
&nbsp;

21 indivuduals and entities including Axis asset management company's former chief dealer have been barred by the capital markets regulator SEBI. This in the Axis mutual fund front running case. 

Axis MF front-running case: 30 Cr wrongfully gained, 21 entities banned 

Axis MF front-running case: SEBI says 30 Cr wrongfully gained, 21 entities banned 

21 indivuduals and entities including Axis asset management company's former chief dealer have been barred by the capital markets regulator SEBI. This in the Axis mutual fund front running case.&nbsp;

Capital markets regulator SEBI has passed an interim order in the Axis Mutual fund front-running case. 21 entities &amp; individuals including Viresh Joshi, the former chief dealer of Axis mutual fund, are banned from buying, selling or dealing in the securities market. As per SEBI, over 30 crore was wrongfully gained through front-running activities and has said that this amount is to be impounded.&nbsp;
SEBI has termed this a "well-crafted manipulative scheme of front running" the trades of Axis Mutual fund and that Viresh Joshi 'glaringly abused his employment as a dealer with Axis MF" taking advantage of non-public information about impending orders the AMC, for his personal gains. These illegal trades were carried out during the period September 1, 2021 and March 31, 2022.&nbsp; Joshi had the discretion to decide as to when the orders of Axis MF would be placed. The front-running of trades were executed from trading accounts of the entities and people indirectly connected to Joshi. The ill-gotten gains were then transferred to the bank account of a company, specially incorporated in Dubai on behalf of Joshi. Joshi's brother and father also went to Dubai to set up this company and were also named shareholders.&nbsp;&nbsp; The order goes on to explain how Viresh Joshi exploited the norms of social distancing during the pandemic which allowed him to use a separate dealing room and circumvent the prohibition on usage of a mobile phone while in the dealing room during trading hours.&nbsp;&nbsp;
In its interim order, SEBI says, "There are ample prima facie evidences unearthed during the investigation which visibly demonstrate the the conduct of the Noticees while indulging in front running trades has been misleading and fraudulent in nature which has violated the integrity of the market and caused fraud on the investors causing irreparable injury to the secutrites market".&nbsp; SEBI has also clarified that a number of parallel and separate proceedings involving different entities are in progress. These are at different stages of investigations. The present proceedings involve the front running of trades of Axis MF.&nbsp; Axis Mutual Fund came under the front-running allegation in 2022 and later on sacked two officials including Viresh Joshi following an internal investigation.

Economists expect the GDP growth for Q3FY23 to slow to 4.6%. This, largely due to base effects normalising which are pulling down the numbers. 

October-December GDP expected to slow to 4.6%

Economists expect the GDP growth for Q3FY23 to slow to 4.6%. This, largely due to base effects normalising which are pulling down the numbers.&nbsp;

The GDP numbers for the October to December quarter will be released on Tuesday, 28th February.&nbsp; As per a poll by Reuters, GDP growth is likely to have slowed down to 4.6% in the third quarter of the current financial year.&nbsp; SBI research also pegs the GDP for Q3 at 4.6% which is higher than the Reserve Bank of India's estimate of 4.4%. The SBI report also says that revisions are likely in the GDP data for FY20, FY21 and FY22. "There are base effects that are normalizing and pulling down the annual numbers. The support from agriculture might be lower and also manufacturing could be a drag," said Sakshi Gupta, principal economist at HDFC Bank.&nbsp; In Q1 (April to June) GDP came in at 13.5%, that was largely due to the pandemic related statistical distortions. The following quarter ending September 2022, GDP came in at 6.3%.&nbsp;

The global economic ramifications of the Russia-Ukraine war have been immense. India too faced the brunt of the war on multiple fronts. Here's a look at the economic impact on India. 

1 year of Russia-Ukraine war: Economic impact on India 

The global economic ramifications of the Russia-Ukraine war have been immense. India too faced the brunt of the war on multiple fronts. Here's a look at the economic impact on India.&nbsp;
&nbsp;

24th February marks exactly one year since Russia's invasion of Ukraine. The global economic shocks caused by the war were a huge setback to the recovery from the covid pandemic.&nbsp;
The Indian economy too faced the repercussions of the war on multiple fronts. On the geopolitical front, the Indian govt had a difficult balancing act to play in an effort to maintain a neutral stance between the west and Russia. This, especially considering its long-standing ties with Russia as well as a strengthening of ties with the U.S.&nbsp;
The Indian economy, like the rest of the world, faced high inflationary pressures. As a result of the disruption to global supply chains, both food and energy prices shot up. This led to inflation staying well above the upper limit of the Reserve Bank of India's tolerance band of 4% to 6%.
Heavy sanctions from the west on Russia, supply chain disruptions all led to global crude prices shooting up to around $139 a barrel. Importing about 85% of crude oil requirement, India was hit hard. And in April 2022, India's retail inflation jumped to an 8-year high of 7.79%.
However, while Russia was facing sanctions from the west, India has been buying crude at a discounted rate from Russia.&nbsp;&nbsp;
As per a Reuters report, in January, Russia was the top crude oil supplier to India, with crude imports from Moscow jumping to 9.2% on a monthly basis to a record 1.4 million barrels per day.&nbsp;
Indian equity markets crashed nearly 5% on 24th February last year, with the Nifty falling over 800 points. As per reports, it was the 4th worst fall ever for the Sensex. The markets have since recovered, and even touched new highs last year. Indian markets have once again turned extremely volatile, which has largely been the fallout of the Adani-Hindenburg controversy.&nbsp;
However, India is in a relatively better position as compared to other economies. Both the World Bank and the IMF have called India as 'a bring spot' and expect it to be one of the fastest-growing economies in the world.&nbsp;

One year of Russia's invasion of Ukraine: the impact on world economy 

One year since Russia invaded Ukraine, the war continues and there seems to be no end in sight.&nbsp; Economies around the world are still facing the impact of the war. Here's a look at what the global economic ramifications of the war have been.&nbsp;

Its exactly one year since Russia invaded Ukraine. Russian President Putin called it a 'special military operation'. One year on, the war continues and there is no end in sight. As per reports atleast 150,000 people on each side have died. The ecnomic ramifications have also been immense. Ukraine itself has seen economic output contract about over 30%. Not just Ukraine, over the past year, the war has caused multiple shocks to the global economy. As per estimates, the war could cost the global economy about $2.8 trillion in terms of lost output. Russia and Ukraine together constitue a large part of the world's energy and food supply. The war&nbsp; disrupted wheat, barley and cooking oil supplies from Ukraine and Russia, to Africa, the Middle East and parts of Asia.
Infact both countries account for 25% of the world's wheat imports. In fact, Ukraine, known as "breadbasket of the world", was unable to continue with its supplies, sending food prices soaring across the world.&nbsp;
The spikes in energy and food prices led to inflation spiking to a multi-decade high of 9% in the U.S. and over 10% in Europe. The Food and Agriculture Organization says its food price index reached a record high in 2022, up by 14.3% from 2021.
Supply chain disruptions, which were still prevalent from the pandemic, once again saw a set back. As a result, there was a spike in both food and energy prices.&nbsp;
However, now, supply chains have returned to pre-war levels. As per Moneycontrol, the Baltic Dry Index was as high as 5,650 in early October 2021 before it fell to under 1,300 by the end of January 2022. However, the Russia-Ukraine war pushed the index over 3,000 by May 2022. It has since collapsed to under 1,000. This index measures the average price of shipping dry bulk across several routes and is considered a lead indicator of economic activity.
The World Bank has warned that the global economy could slip into recession in 2023. 
&nbsp;

Finance Ministry's January economic review says that India is on track to achieve 7% growth in FY23. However, the report also says that the 6.5% growth forcast for FY24 has more downside than upside risks. 

India on track to achieve 7% GDP Growth in FY23: Finance Ministry 

Finance Ministry's January economic review says that India is on track to achieve 7% growth in FY23. However, the report also says that the 6.5% growth forcast for FY24 has more downside than upside risks.&nbsp;

The finance ministry has released its January economic review report outlining the current state of the economy and the road ahead.&nbsp;&nbsp; On GDP Growth, the report says that India is on track to achieve 7% GDP growth in 2022-23. Manufacturing is growing steadily and overall demand conditions are conducive to support economic activity. However, the report also cautions that the 6.5% growth forecast for FY24 has more downside than upside risks.&nbsp; On Inflation: Despite a sticky core inflation currently, the inflation risks are likely to be lower for India in FY24. While there have been some instances of inflation stiffening above the downward trending like, the report points out that "Inflation decline does not often happen in a straight line as prices are usually downward sticky." But that, this situation could prolong if global commodity prices do not head towards the pre-pandemic levels.&nbsp; Another word of caution is basis predictions of the return of El-Nino conditions. If that happens, monsoon rains could be deficient which may lead to lower agriculture output and higher prices.&nbsp;&nbsp; Exports: There is a likelihood of exports showing a tepid growth with major export markets of India likely to decline sharply.&nbsp; External deficits may be a lesser challenge in FY24 than in FY23, but close attention to trends in international trade and capital flows will be warranted.
Global outlook: Global inflation likely to moderate gradually, but will remain higher than pre-pandemic levels. However, inflation risks remain as geopolitical conflicts and the resulting supply disruptions that contributed to higher inflation in 2022 are still present.&nbsp;&nbsp;
&nbsp;
&nbsp;
&nbsp;

The minutes of RBI's monetary policy committee meet shows that the members were divided over inflation concerns. While majority belived that it is too early to lower the guard against inflation, 2 members felt that this rate hike was not warranted.



MPC Minutes: Too soon to lower guard against inflation, say majority of members

The minutes of RBI's monetary policy committee meet shows that the members were divided over inflation concerns. While majority belived that it is too early to lower the guard against inflation, 2 members felt that this rate hike was not warranted.
&nbsp;
&nbsp;

The minutes of the February monetary policy committee meet clearly show that inflation was the overarching worry for a majority of the MPC members. However, there was some difference of opinion as to the extent of concerns of inflation. While 4 members voted for the 25 basis points rate hike that was announced, 2 members voted for a pause in the rate hikes.&nbsp; Dr Ashima Goyal was of the opinion that it time should be given for a possible softening of both inflation and growth as well as to allow the effects of past monetary tightening to play out. Echoing a similar view, Prof Jayant Verma said that the 25 basis points rate hike was not warranted given diminished inflationary expectations, and heightened growth concerns.&nbsp;
However, RBI Governor Das said that the committment to bring down inflation must be unwavering, while being mindful of growth. On future action, the governor pointed out that it would be inadvisable to provide a specific guidance when the uncertainty is so high.&nbsp;&nbsp;
Similarly, Dr. Shashanka Bhide highlighted the importance of reducing demand pressure given the persistance of core inflation. Dr. Rajiv Ranjan said that "it will be premature to pause when there are no definitive signs of slowdown in inflation, particularly core inflation".&nbsp;
Meanwhile, Dr. Michael Debabrata Patra voiced a similar sentiment and also highlighted that the fight against inflation is complicated by the global outlook.&nbsp;

Air India's largest ever deal in aviation history of 470 aircraft could get bigger. The Tata-owned airline has the option to acquire another 370 aircraft. 





Explained: Air India's historic deal 

Air India's largest ever deal in aviation history of 470 aircraft could get bigger. The Tata-owned airline has the option to acquire another 370 aircraft. Avni Raja explains. 





Air India's largest ever deal in aviation history of 470 aircraft could get bigger. The Tata-owned airline has the option to acquire another 370 aircraft.&nbsp;

Tata owned airline Air India sealed a deal for 470 aircraft - 250 from Airbus and 220 from Boeing. This ia the biggest order ever placed by any airline in one go. Air India&rsquo;s order even beats American Airlines 2011 order of 460 aircraft &ndash; which was the largest order size up until now.&nbsp; &nbsp;
As per reports, the deal size could be anywhere between 70 to 80 billion dollars and that an order of this size would also come with huge discounts.&nbsp;
But that&rsquo;s not all, Air India also has the option to buy another 370 jets over the next 10 years.&nbsp; Which means, that this deal has the potential to get even bigger.&nbsp;
This decision is important both economically as well geopolitically. From U.S President Joe Biden, to U.K Prime Minister and the French President, all have hailed the deal as a landmark &nbsp;one that would create jobs. In fact the U.S President announced that this would support over 1 million jobs in the U.S.&nbsp;
A reuters report says that months of secret talks were held at St. James court, a luxury hotel, near Buckingham palace in London, before this deal was finally sealed.&nbsp;
Tatas acquired the airline just last year. As the national carrier, Air India had been struggling for several years with a huge debt burden. Air India had not ordered new planes since 2006.&nbsp;
Experts say that while this deal can completely reset the Indian aviation industry and shows Air India&rsquo;s intention to dominate the market and restore the airline to its days of glory , it will also be important to see how well Air India&rsquo;s turnaround plan is executed.&nbsp;
&nbsp;

avni raja

Categories

Trending topics