Fixed-term deposits let you safely keep your money in the bank at an agreed interest rate for a set time. Moreover, unlike other investments, you can get your money back if needed. While interest rates on fixed deposits can vary, they’re better than what you’d get with a savings account. That’s why many people choose fixed-term deposits to help their money grow. Banks sometimes offer special deals with higher interest rates for a limited time. You can get FD rates of up to 8% until June 30. People who want to earn more should try to grab these deals before…
Author: Editorial Team
The stock market reached record highs as exit polls hinted at a landslide victory for the BJP in the elections. The Nifty 50 and Sensex hit all-time highs of 23,338.70 and 76,738.89, respectively. This news relieved investors’ worries, leading to gains across major sectors, including small and mid-caps. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that the polls indicated a potential two-thirds majority for the ruling party, boosting market sentiment despite the historically mixed accuracy of exit polls. Market Update: Sensex Reaches 2,600 pts to Record High and Positive Sentiment Stock Indices Soar: The BSE Sensex…
A team from the United States is in India to discuss the US and India drone Deal for $3.99 billion to buy MQ-9B drones. The final agreement is still pending as both sides are negotiating technology sharing. Representatives from General Atomics are in the capital to discuss acquiring 31 drones, with 15 for maritime use. The US government approved the deal in February, increasing its estimated value from $3 billion to $3.99 billion. However, the technology-sharing talks have not yet been finalized. There are also concerns within the Indian armed forces about recent reports of advanced drones being shot down…
Tech layoffs in 2024 reach 89,000, a lot of job cuts and positions gone from 302 companies. Big players like Tesla, Amazon, Google, and Microsoft, as well as smaller startups, were affected. For instance, in January, about 19,350 people lost their jobs, followed by 15,589 in February, 7,403 in March, and a big hit of 22,352 in April. May wasn’t any better, with over 9,654 more layoffs. Many companies had to make tough decisions, like cutting back on staff or even shutting down completely. This data comes from Layoffs.fyi, a website tracking job losses in the tech sector. January 2024…
Renowned badminton player, PV Sindhu invests in agritech startup Greenday’s FMCG brand ‘Better Nutrition.’ The goal of this collaboration is to address the issue of nutrient deficiencies in India by introducing innovative biofortified foods. These foods aim to improve the health of consumers while also benefiting farmers’ livelihoods. Greenday is committed to conducting its operations sustainably. This includes developing agricultural input products that have minimal environmental impact. Specifically, their products are designed with low carbon footprints in mind, and they strive to reduce their overall impact on groundwater levels. This approach aligns with their broader mission of promoting both human…
TechEagle is a startup in India’s rapidly growing drone logistics market. TechEagle has secured funding from Navam Capital, IPV, and Paytm Founder. This bridge funding round underlines investor confidence in TechEagle’s goal of transforming last-mile delivery across India. With support from industry veterans like Tushar Jani (co-founder of BlueDart Express) and Ajoy Khanderia (founder of Gramin Healthcare), TechEagle is well-equipped to expand its operations nationwide. The funding for TechEagle comes at a crucial time for drone delivery in India. With recent rule changes and government support, the industry is growing fast. Drone startup TechEagle is ready to take advantage of…
According to reports, the Reserve Bank of India (RBI) transferred 1 Lakh Kg(100 tonnes) of Gold from the UK to India’s Vaults. This is the first time since 1991 that India has transferred such a large amount of gold reserves. More than half of the RBI’s gold reserves are kept overseas with the Bank of England and the Bank of International Settlements. Around one-third of the reserves are stored in India. Moving the gold is expected to save the RBI money on storage costs currently paid to the Bank of England. RBI Transfers 1 Lakh Kg of Gold from UK…
On Thursday, India made history in the space sector with the first launch from a private launchpad. Chennai-based space startup Agnikul Cosmos launched Agnibaan SOrTeD, the country’s second privately built rocket. This rocket, which uses both gas and liquid fuel, took off at 7:15 am from Shriharikota. Agnikul Cosmos had tried to launch Agnibaan before. The first attempt was on March 22 but was delayed due to “unavoidable circumstances.” Another attempt was set for April 6 but was postponed to April 7 due to technical issues. Private Space Startup Agnikul Cosmos Launched Agnibaan Agnibaan SOrTeD has the world’s first single-piece…
On May 30, PhonePe launched a secured lending platform by partnering with banks, NBFCs, and other fintech companies. With over 535 million registered users, Walmart-owned PhonePe aims to provide a seamless experience in the secured loans category. Through the PhonePe app, users can access loans for mutual funds, gold, bikes, cars, homes (including loans against property), and education. PhonePe introduced secured loans for housing and two-wheeler finance in partnership with L&T Finance, expanding its loan offerings. PhonePe Launches Secured Lending Platform PhonePe’s CEO, Hemant Gala, announced a new opportunity to connect lenders with millions of customers across India on one…
According to its founder, Ritesh Agarwal, the hotel booking platform OYO achieved its first-ever profit in FY24, making about Rs 100 crore in net profit. He shared on X (formerly Twitter) that the company is doing well financially, with eight quarters in a row of positive EBITDA (earnings before interest, taxes, depreciation, and amortization) and around Rs 1,000 crore in cash. Even though these numbers are not final yet, Agarwal mentioned that the audited financials will probably be similar to these figures. OYO Seeks Funds, Withdraws IPO Application OYO, the hotel company, is trying to get $80-90 million from family…