Achi news desk-
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- Today’s Business Events, Share Market, Diesel Petrol, Gold Silver, Wholesale Inflation, Paytm Tpap
New Delhi10 days ago
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The big news yesterday was about petrol and diesel. Before the Lok Sabha elections, petroleum companies gave relief to the people and reduced the prices of petrol and diesel by Rs 2 per litre. The new prices will apply from 6am on Friday. While India’s wholesale inflation eased to 0.20% in February, it was 0.27% in January. This is also the lowest level of inflation in 4 months.
Before tomorrow’s big news, today’s big events to keep an eye on…
- There may be an increase in the stock market today (Friday, March 15).
- Today is the second day of Crystal Integrated Services Limited’s IPO.
- SEBI Board of Directors meeting will be held today.
- Skoda will present its cheapest and smallest electric car in the global market.
Now big news tomorrow…
1. Petrol and diesel cheaper by Rs 2 across the country: New prices applicable from 6 am; Prices reduced after 22 months
Before the Lok Sabha elections, petroleum companies gave relief to the people and reduced the prices of petrol and diesel by Rs 2 per litre. The new prices will apply from 6am on Friday. Earlier, the prices were reduced on May 21, 2022 (22 months).
Union Petroleum and Natural Gas Minister Hardeep Puri gave this information on social media platform X. He wrote that by reducing the prices of petrol and diesel by Rs 2, Prime Minister Narendra Modi has once again proved that the welfare and convenience of crores of Indian families is his aim. Earlier, the Rajasthan government had reduced VAT on diesel petrol by 2 percent in its state.
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2. Wholesale inflation rate fell to 0.20%: This is the lowest in the last 4 months, but prices of food items increased.
India’s wholesale inflation has eased to 0.20% in February. In January it was 0.27%. This is also the lowest level of inflation in 4 months. Inflation in November was 0.26%. Inflation has fallen, but the prices of food items have increased.
Whereas if we talk about a year ago ie February 2023, then wholesale inflation was 3.85%. While between April 2023 and October 2023, inflation remained in the negative zone. Inflation was -0.92% in April and -0.52% in October.
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3. UPI services from Paytm app will continue: NPCI approval to become third party UPI app; Partnership with SBI, Axis, HDFC and Yes Bank
The National Payments Corporation of India (NPCI) has approved Paytm’s parent company, One-97 Communications Limited (OCL) to offer UPI services as a Third Party Application Provider (TPAP) under the multi-bank model. Four banks – Axis Bank, HDFC Bank, State Bank of India and Yes Bank will work as Paytm partner banks ie Payment System Providers (PSP) to empower the payment service.
NPCI said in the statement, ‘Yes Bank will also act as the merchant acquiring bank for existing and new UPI merchants for OCL. ‘@Paytm’ handle will be redirected to Yes Bank. This will enable existing users and merchants to continue UPI transactions and autopay mandates without any disruption. Moreover, NPCI has also advised Paytm to migrate all existing links and mandates to the new PSP banks as soon as possible.
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4. Fitch raises GDP growth forecast to 7% in FY25: Earlier estimate was 6.5%; Retail inflation is expected to reach 4% by the end of the year
Global rating agency Fitch has increased India’s economic growth estimate for fiscal year 2025 from 6.5% to 7%. Fitch said India’s economic growth will be supported by strong domestic demand and increased investment. The rating agency has also predicted that retail inflation will fall to 4% by the end of 2024. Fitch expects the Reserve Bank of India (RBI) to cut the repo rate by 0.5% between July and December.
This change in Fitch’s forecast comes almost two weeks after official data from the National Statistical Office (NSO) showed that the country’s GDP grew by 8.4% in the October-December period. Which has increased due to the better performance of the manufacturing and mining sectors.
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5. Paytm will layoff 20% of its employees: There will be layoffs in various departments under the Annual Performance Review, AI is also responsible
Paytm’s parent company ‘One 97 Communications Limited’ is preparing to fire around 20% of its employees. Recently the company had fired 1000 employees for cutting costs. Moneycontrol has provided this information citing sources.
According to the report, the company is going to make this layoff in different departments under the annual performance review. Apart from this, Paytm also conducts AI-powered automation exercises. Because of this also jobs may be cut.
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6. Reliance to buy 13.01% stake in Viacom18 from Paramount: Deal signed for Rs 4,286 crore, RIL’s stake in the company will increase to 70.49%.
Reliance Industries is going to buy a 13.01% stake in local entertainment network Viacom 18 Media from Paramount Global. This deal between the two companies has been done for 517 million dollars (roughly Rs 4,286 crore). After the completion of this deal, Reliance’s stake in Viacom 18 will increase from 57.48% to 70.49%. The 13.01% stake that Paramount Global is selling in Viacom is owned by its two subsidiaries.
Viacon 18 is a company owned by Reliance. It has a network of 38 TV channels such as Comedy Central, Nickelodeon and MTV. Paramount Global is an American media and entertainment company. It was formed in 2019 through the merger of Viacom and CBS. It is owned by National Amusements, Inc. A subsidiary of. The company, originally known as ViacomCBS, was renamed Paramount Global in 2022.
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Now read the news you need…
Free Aadhar update deadline extended again: Now fees will not have to be paid till June 14, know the complete process of updating.
The Unique Identification Authority of India (UIDAI) has once again extended the deadline for free Aadhaar updating by 3 months. Now you will be able to update your Aadhaar for free till June 14 and you will not have to pay any charge for it. After this, Aadhaar update will have to be paid for.
Earlier this deadline was until 14 December, but it was extended by 3 months to 14 March. According to the circular issued by UIDAI on September 6, 2023, this initiative has been started especially for those people who got Aadhaar card 10 years ago and have not updated it even once.
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See also who were the 10 richest people in the world yesterday…
Know the state of tomorrow’s share market and gold and silver…
Know the latest petrol, diesel and gas cylinder price…
