Author: TheSpuzz Desk

Q1FY23 is anticipated to reflect that asset quality woes have waned for financiers and the focus is shifting back to growth. Slippages and credit cost are likely to remain at least stable, if not improve and stressed pool will descend. Post repo rate hike, rise in retail deposit rates by banks lagged the lending (EBLR as well as MCLR) rate hike. We expect the impact on NIMs to be i) relatively more adverse for RBL, IDFC FIRST Bank, IndusInd, Kotak; and ii) favourable for SBI and Axis. Surge in G-sec and corporate bond yields and consequent pressure on treasury gains…

Naini Rajbonshi didn’t know how to weave a cloth until four years ago. But a hand-operated loom sitting in a thatched hut adjacent to her home today tells an inspiring story of struggle and survival—not only of her own, but also of dozens of large birds flying in the sky above her picturesque village. “The weaving work has given me a lot of respect in my family and village,” beams Rajbonshi, who was a homemaker before she joined a movement by women to save an endangered bird species in Assam’s Dadara village on the outskirts of Guwahati. The famous Assamese…

San Francisco: A leaked cache of confidential files from ride-sharing app Uber illustrates ethically dubious and potentially illegal tactics the company used to fuel its frenetic global expansion beginning nearly a decade ago, a joint media investigation showed Sunday.Dubbed “the Uber files,” the investigation based on 124,000 records and involving dozens of news organizations, found that early in the San Francisco start-up’s history as it looked to conquer new markets, company officials leveraged sometimes violent backlash from the taxi industry against drivers to garner support and evaded regulatory authorities.Uber in a statement Sunday acknowledged “mistakes,” but laid the blame on…

Historically low interest rates are history for now. The recent RBI hike of repo rates by 90 basis points will impact new home loan borrowers the most as they have just started their repayment journey, and their loan tenor is long. Since most home loans are taken on the floating interest rate these days, borrowers will have to face an increase in their loan tenors. Recent home loan borrowers had taken home loans at rock-bottom rates, such as 6.5% for home loans, but this golden period of low-interest rates has ended. The loan tenor and EMIs will increase with more…

We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 – 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Register today! Recently, a Google engineer made international headlines when he asserted that LaMDA, their system for building chatbots, was sentient. Since his initial post, public debate has raged over whether artificial intelligence (AI) exhibits consciousness and experiences feelings as acutely as humans. While the topic is undoubtedly fascinating, it’s also overshadowing other, more pressing risks such as unfairness and privacy loss posed by large-scale language models (LLMs), especially for companies…

Twitter lawyered up. The company reportedly hired Wachtell, Lipton, Rosen & Katz, a firm notable enough to have its own Wikipedia page, and a founding partner, Martin Lipton, credited with inventing the shareholder rights plan or “poison pill” defense that Twitter initially used to put the brakes on Musk’s attempted buyout. On Friday, Elon Musk filed a document to attempt to cancel his $44 billion takeover of Twitter. In response, Twitter chairman Bret Taylor tweeted the company would pursue legal action to close the deal as agreed upon. Wachtell Lipton’s hiring, as reported by Bloomberg, suggests Twitter is serious about…

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty saw bulls return to Dalal Street on Wednesday. S&P BSE Sensex opened in the green and closed 616 points or 1.16% higher at 53,750 while the NSE Nifty 50 index closed 178 points or 1.13% higher at 15,989. Bank Nifty zoomed 1.5% to settle at 34,324. India VIX, the volatility gauge, slipped 2.5% but still trades above 20 levels. Bajaj Finserv was the top gainer on Sensex, up 4.54%, followed by Bajaj Finance, Hindustan Unilever, and Maruti Suzuki India. Power Grid was the top laggard, down 1.14%.…

Shanghai: Amid the rising mercury reaching up to 40 degrees Celsius, the Shanghai municipal meteorological observatory on Sunday issued a red alert in some areas of the province.According to Xinhua, Shanghai has been witnessing an extreme high temperature for six consecutive days since July 5.On Sunday, the temperature at the Shanghai Xujiahui Station reached 40 degrees Celsius at 2:12 pm (local time), the earliest high-temperature day of 40 degrees Celsius since Shanghai started meteorological records in 1873.A total of 15 blisteringly hot days above 40 degrees Celsius have been reported in the city since 1873, and the 40.9 degrees Celsius…

Gold prices have moved up around 3% to Rs 52,164 in the domestic market a week after the government raised the import duty on the metal by 5% to 12.50%, with the effective duty at 15%, including the 2.5% agri cess. The hike was done to check the ballooning current account deficit amid rising imports of the yellow metal which spiked to $2.61 billion in June this year from $969 million a year ago. The increase in customs duty on gold is also reflecting in the trading prices on exchange and the net asset values (NAVs) of gold exchange traded…

Image Source – InstagramToday is an auspicious day as Muslims around the world are celebrating Eid al-Adha. The festival marks the end of the annual Hajj pilgrimage and fills it with love and laughter. Like every year, this time too many celebrities took to their respective social media handles to send love and greeting to their fans. From Aamir Khan, Madhuri Dixit to Kirron Kher and Sidharth Malhotra, celebrities wished everyone ‘Eid Mubarak’ in the sweetest way possible. Madhuri Dixit took to Instagram and penned a wish for everyone who is celebrating the day. The actress took to her Instagram…