Big Wins & Bold Moves: SBI’s Senior Citizen Scheme, ₹140M for Darwinbox & India’s Semiconductor Push
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🗞️ SBI Introduces Special Scheme for Senior Citizens Ensuring Safe Investment with Regular Income
The State Bank of India (SBI) has launched a special scheme tailored for senior citizens, offering secure investment options coupled with regular income benefits.
💬 Expert Opinion: "This initiative provides a stable financial avenue for senior citizens, ensuring both safety and consistent returns." – Anjali Mehta, Financial Advisor
🗞️ Darwinbox Secures $140 Million Funding from Partners Group, KKR, and Others
Darwinbox, a leading HR services SaaS company, has raised $140 million in a funding round led by Partners Group and KK R, strengthening its position in the HR tech industry.
💬 Expert Opinion: "This funding will help Darwinbox expand its global footprint and enhance product innovation." – Rajesh Kumar, Startup Analyst
🗞️ MoUs Worth ₹15,000 Crore Signed on First Day of Semiconductor Conference
On the first day of India's semiconductor conference, ₹15,000 crore worth of MoUs were signed, boosting the country's efforts to establish a robust semiconductor manufacturing ecosystem.
💬 Expert Opinion: "This is a major step towards making India a key player in the global semiconductor supply chain." – Alok Jain, Technology Consultant
🗞️ RBI Announces Liquidity Infusion Amid Tax Outflows
The Reserve Bank of India (RBI) has introduced additional liquidity measures to ease financial conditions in the banking sector as tax outflows tighten market liquidity.
💬 Expert Opinion: "This move will ensure stability in the banking system and support credit growth." – Meera Shah, Economist
🗞️ U.S. Crude Exports to India Reach Two-Year High as Russia Sanctions Take Effect
India has significantly increased its crude oil imports from the U.S., marking a two-year high, as global energy trade dynamics shift due to Western sanctions on Russia.
💬 Expert Opinion: "India is diversifying its energy imports to ensure stable supply and mitigate risks from geopolitical uncertainties." – Vikram Mehta, Oil & Gas Analyst
🗞️ Reliance Industries Shares Gain 2% as Jefferies Sets ₹1,600 Target Price
Reliance Industries saw a 2% rise in stock price after Jefferies set a target price of ₹1,600, with Kotak Securities also upgrading the stock amid strong business growth.
💬 Expert Opinion: "Strong earnings prospects and expansion strategies are driving positive sentiment for Reliance shares." – Neha Gupta, Stock Market Expert
🗞️ India's Prevailing Tariffs Are Consistent with WTO Norms: FM Sitharaman
Finance Minister Nirmala Sitharaman stated that India's current tariff structures align with World Trade Organization (WTO) norms, reinforcing the country's commitment to fair trade practices.
💬 Expert Opinion: "Adherence to WTO norms reflects India's dedication to maintaining equitable international trade relations." – Arvind Rao, Trade Analyst
🗞️ Oil Marketing Companies Rally as Brent Crude Slips Below $70
HPCL, BPCL, and IOCL saw their stock prices surge up to 5% as Brent crude prices fell below $70 per barrel, improving refining margins and profitability.
💬 Expert Opinion: "Lower crude prices enhance refining margins, benefiting oil marketing companies." – Sneha Patel, Industry Expert
📊 Market Updates
Sensex: Increased by 609.86 points (0.83%), closing at 74,340.09.
Nifty 50: Rose by 207.40 points (0.93%), ending at 22,544.70.
Rupee: Strengthened to ₹86.88 against the U.S. dollar.
Gold: Trading at ₹89,150 per 10g.
Silver: Priced at ₹105,800 per kg.
Brent Crude: Trading at $69.85 per barrel.