Kotak Mahindra group founder has a financial sector model for India: 9% annual growth, $30 trillion GDP by 2047
A purchasing managers’ index issued by China’s statistics agency and an industry group improved to 49.3 from June’s 49 on a 100-point scale but was below the 50-point level that shows activity contracting.
In recent months, lenders in Asia’s third-largest economy have boosted their unsecured lending portfolios as the pandemic-induced stress on household finances has eased.
Indian tax authorities have served notices worth about 1 trillion rupees ($12.03 billion) to online gaming companies, reported Reuters.
“The acquirers are all systematically important non-deposit accepting non-banking financial companies (NBFCs) engaged primarily in the business of making investments in capital markets and providing secured and unsecured loans,” the Commission said.
The August manufacturing PMI number has come a day after the release of April-June GDP data, which showed the Indian economy grew at a four-quarter high of 7.8 per cent, broadly in line with expectations.
German premium footwear Birkenstock Holding chose to price its initial public offering (IPO) conservatively at the middle of its indicated price range at $46 per share on Tuesday, the company said.
The “clarification” on the GST rate on online gaming, horse racing, and casinos was necessary for the “principle of equity”, Revenue Secretary Sanjay Malhotra said.
Binance broke US anti-money laundering and sanctions laws and failed to report more than 100,000 suspicious transactions with organizations the US described as terrorist groups including Hamas, al Qaeda and the Islamic State of Iraq and Syria, authorities said.
The interest rate on both the two-year and three-year term deposits is 7 per cent while on the five-year term deposit, the rate is 7.5 per cent.