This Week in Business & Finance: Market Trends, Leadership Updates, and Investment Insights
Your daily dose of financial news in a minute plus expert advisor views.
🗞️SIPs Surpass FDs and Equities as India’s Top Investment Choice:
Insight: SIPs (Systematic Investment Plans) have become the most popular investment option for Indians, with contributions reaching record highs. The flexibility and alignment with long-term financial goals make mutual funds attractive to a diverse range of investors.
Expert Opinion: Financial analyst Priya Mehta commented, “The rising trend in SIPs reflects the growing awareness of wealth creation through disciplined investing. This shift from traditional options like FDs signifies a more mature investment mindset.”
🗞️Achint Setia Appointed Snapdeal CEO; Chakrawarti to Lead Stellaro Brands:
Achint Setia has taken over as Snapdeal’s CEO, while Himanshu Chakrawarti will lead Stellaro Brands to focus on operational scaling. These appointments aim to accelerate growth for both entities.
Expert Opinion: “We are delighted with these two executive appointments, which will further accelerate the growth of Snapdeal and Stellaro Brands,” said Kunal Bahl and Rohit Bansal, co-founders of Acevector Limited.
🗞️Wheat Prices Surge Over 8% in Two Weeks: Inflation Concerns Rise:
Wholesale wheat prices have climbed to ₹32-33 per kg in just a fortnight, despite government efforts to control them by selling wheat to flour millers. Experts attribute the rise to insufficient government stock.
Expert Opinion: "The wheat prices surged to their highest level of this season as the government tender was awarded at higher rates," said Rahul Chauhan, director at agri commodity market research firm iGrain India. "However, they declined this week due to profit booking," he added.
🗞️Paisalo Facilitates ₹3,400 Crore Transactions in Two Years:
Paisalo Digital, an NBFC, has serviced over 59 lakh customers by initiating transactions worth more than ₹3,400 crore through collaborations with SBI and Bank of India. Their focus on technology aims to provide financial services to India’s under-banked communities.
Expert Opinion: “As we look ahead, this success lays the foundation for achieving our ambitious vision for 2025 - to further expand our outreach, innovate our offerings, and contribute meaningfully to India's financial ecosystem,” said Santanu Agarwal, Deputy Managing Director of Paisalo Digital.
🗞️India Mines Ministry Seeks ₹2,600 Crore for Critical Minerals:
The Mines Ministry has requested a ₹2,600 crore budget in the Union Budget to boost exploration and development of critical minerals essential for India's tech and defense sectors.
Expert Opinion: A senior official remarked, “This funding is critical for securing India’s future in strategic mineral reserves and reducing import dependence.”