This year, PhonePe is focussed on bringing more partners across categories, including travel, commute, food, hyper-local, retail and entertainment on the platform.
"If you see in the context of alliances and statistics, then this is the strongest alliance government," Modi said while addressing newly-elected MPs and leaders of the NDA from across the country following his election as leader of the ruling bloc ahead of his government's swearing-in on Sunday.
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation.
The decline of over 5 per cent in PB Fintech's shares (the parent company of PolicyBazaar) in the past two days presents an opportunity for long-term investors to consider buying the stock, suggest analysts. By comparison, the benchmark S&P BSE Sensex has remained flat during the same period with a negligible gain of 40 points, or 0.06 per cent. Analysts believe that the recent selling is "overdone", as the company behind the online insurance portal remains committed to achieving profitability, and the potential threat from the government's online insurance portal, Bima Sugam, might be embellished.
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
Prime Minister Narendra Modi on Friday called for developing a template by the Shanghai Cooperation Organisation (SCO) to effectively deal with the challenges of extremism and radicalisation.
The telecom companies have also been asked to urgently improve their infrastructure, as the government aims to digitise a host of services.
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
ICICI bank waives ATM charges.
