UPI Hits Record!
Your daily dose of business news
🗞️ RBI Injects ₹80,000 Crore to Boost Market Liquidity
The Reserve Bank of India (RBI) has announced a fresh ₹80,000 crore Open Market Operation (OMO) purchase to enhance liquidity in the financial markets. This measure aims to support economic activity and ensure sufficient liquidity in the banking system.
🗞️ OpenAI Valued at $300 Billion After SoftBank Deal
OpenAI has reached a valuation of $300 billion following a significant investment deal with SoftBank. This development intensifies competition among tech giants, particularly impacting Microsoft, which has substantial investments in AI technologies.
🗞️ Mandatory Two-Factor Authentication for GST E-Way Bills from April 1
Starting April 1, businesses generating GST e-way bills must implement two-factor authentication (2FA). The Goods and Services Tax Network (GSTN) will soon make this security measure mandatory to enhance the integrity of the e-way bill system.
🗞️ Vodafone Idea Shares Surge 20% Following Government's Spectrum Dues Conversion
Shares of Vodafone Idea soared by 20% after the Indian government decided to convert the company's spectrum auction dues into equity, increasing its stake to 48.99%. This move is expected to alleviate the telecom giant's debt burden and enhance financial stability.
📌 Expert Opinion: Market analysts suggest this move improves Vodafone Idea’s balance sheet, but the company still needs fresh capital infusion and higher average revenue per user (ARPU) to remain competitive with Reliance Jio and Bharti Airtel.
🗞️ CPSE Dividend for FY25 Reaches Record ₹74,017 Crore
Central Public Sector Enterprises (CPSEs) have declared a record dividend of ₹74,017 crore for FY25, reflecting improved profitability and the government's emphasis on enhanced performance of state-owned enterprises.
🗞️ UPI Transactions Hit Record High of ₹24.77 Lakh Crore in March
Unified Payments Interface (UPI) transactions reached a record ₹24.77 lakh crore in March, underscoring the growing adoption of digital payments in India.
🗞️ GST Collections for March at ₹1.96 Lakh Crore, Up 9.9%
Goods and Services Tax (GST) collections for March stood at ₹1.96 lakh crore, representing a 9.9% increase compared to last year. This growth signals robust economic activity and improved compliance among taxpayers.
🗞️ NHAI Raises Toll Rates by 4.5%
The National Highways Authority of India (NHAI) has announced a 4.5% increase in toll rates across national highways to adjust for inflation and support ongoing infrastructure development projects.
📊 Market Updates
📉 Sensex: -1.80% | 76,024.51
📉 Nifty 50: -1.50% | 23,165.70
💸 Rupee: 🔻 ₹87.20 against USD
🥇 Gold: 🆙 ₹91,065 per 10g (All-time high)
🥈 Silver: 🆙 ₹100,571 per kg
🛢️ Brent Crude: 🔻 $84.50 per barrel