Pension Reform Boosts NPS Benefits
Your daily dose of business news
🗞️ NPS Pensioners to Get More Benefits under UPS
The government plans to unify retirement benefits under a Unified Pension Scheme (UPS), offering enhanced advantages to NPS subscribers. The move will enable seamless portability, higher employer contributions, and improved fund management across platforms.
💬 Expert Take:
“This reform could significantly enhance retirement security and increase participation in long-term pension instruments.”
— Ritika Shah, Policy Researcher, India Pension Forum
🗞️ Bajaj Finserv Promoters Offload Stake via Block Deal
Jamnalal Sons, part of the Bajaj Finserv promoter group, has sold a portion of its holding via a block deal. This move is part of long-term financial planning and comes amid a bullish phase for Bajaj Group stocks.
🗞️ Circle’s NYSE Debut: Shares Triple on First Day
Circle Internet, the stablecoin giant, made a stellar debut on the NYSE, with shares surging over 235% on Day 1. The company now commands a valuation of $18 billion, reflecting the growing investor interest in blockchain-powered finance.
💬 Expert Take:
“This listing validates crypto’s maturation into mainstream finance. Circle’s real-time payments infrastructure is its biggest moat.”
— Neil D’Souza, Crypto Analyst, FinTech Bridge
🗞️ Citi to Cut 3,500 Tech Jobs in China
Citigroup will reduce 3,500 positions in its China tech operations as part of a global restructuring strategy. The decision aims to streamline operations amid rising costs and a changing tech investment landscape.
🗞️ Flipkart Gets RBI Nod to Lend Directly
Flipkart has received RBI approval to operate as a direct lender in India. This development could disrupt the consumer lending market, especially in the e-commerce credit and BNPL segments.
🗞️ TVS Motor Elevates Sudarshan Venu to Chairman
TVS Motor has promoted Sudarshan Venu to Chairman, effective August 25. Under his leadership, the company has expanded aggressively into EVs and global markets.
🗞️ RBI Rate Decision Tomorrow: 6 Things to Watch
Markets are bracing for the RBI’s monetary policy decision tomorrow. While a rate cut is not widely expected, investors are watching forward guidance, liquidity measures, and inflation commentary.
🗞️ Govt Eases SEZ Rules for Chip Manufacturing
To boost electronics production, the government has relaxed SEZ regulations for manufacturing chips and electronic components. The relaxed norms include quicker clearances and tax incentives.
💬 Expert Take:
“This is a strategic step toward making India a semiconductor hub. Global majors are likely to take serious note.”
— Akhil Nair, Tech Policy Lead, Indus Semiconductor Forum
📊 Market Updates
📈 Sensex: 81,442.00 ▲ +443.79 (+0.55%)
📈 Nifty 50: 24,750.90 ▲ +130.70 (+0.53%)
💵 USD/INR: ₹85.84 ▲ +0.13 (+0.15%)
🛢️ Brent Crude: $64.78 ▼ -$0.44 (-0.68%)
🪙 Bitcoin: $104,749.85 ▼ -$684.52 (-0.65%)
🪙 Gold (24K): ₹9,960/gram ▲ +₹43