Read more about the article SBI Cards Director Dinesh Khara Bids Farewell
Politics / Business

SBI Cards Director Dinesh Khara Bids Farewell

Dinesh Khara Wraps Up His Time as SBI Chairman and SBI Cards Director Key Points Dinesh Khara has retired as chairman of the State Bank of India (SBI) and as director of SBI Cards & Payment Services Ltd. Khara said thanks to his team and everyone who supported him in his resignation letter. CS Setty is taking over as the new chairman of SBI. During Khara's time, SBI saw a boost in profits and better loan book quality. SBI's stock went up…

By Vishal Kumar
August 28, 2024
Read more about the article The Insult That Sparked a Billion-Dollar Luxury Car Collection
Entertainment / Business / Technology

The Insult That Sparked a Billion-Dollar Luxury Car Collection

Key Points Indian billionaire Joy Alukkas got snubbed at a Rolls-Royce showroom in Dubai back in 2000. The salesperson told him to check out Mitsubishi instead. Alukkas, who’s a big deal in India and runs the Joyalukkas Group, felt insulted and bought a Rolls-Royce on a whim. He later gave the Rolls-Royce away in a raffle to promote his jewellery business. These days, Alukkas has a bunch of luxury cars, including a Rolls-Royce Cullinan he bought earlier this year. Looma News So,…

By Vishal Kumar
August 28, 2024
Read more about the article Over 50 Lakh Vehicles on Mumbai’s Atal Setu in Just 7 Months!
Technology / Business / Sports

Over 50 Lakh Vehicles on Mumbai’s Atal Setu in Just 7 Months!

Key Points The Atal Setu, India’s longest sea bridge, links Mumbai and Navi Mumbai. Since opening on January 13, 2024, more than 5 million vehicles have crossed it. The bridge has made it way easier to get from South Mumbai to the Mumbai-Pune Expressway. Maharashtra Chief Minister Eknath Shinde has praised the bridge for helping with traffic and boosting the economy. It cost over Rs 17,840 crore to build and stretches 21.8 km. PM Narendra Modi opened the Atal Setu on January…

By Vishal Kumar
August 26, 2024
Read more about the article Trent Joins Nifty 50: What This Means for Their 129% Stock Surge
Entertainment / Business / Technology

Trent Joins Nifty 50: What This Means for Their 129% Stock Surge

Key Points: Trent Ltd.’s stock has surged by 129% this year, outperforming many global retail stocks. The Tata Group company is set to join India's NSE Nifty 50 index next month. Trent’s success is largely attributed to its affordable fashion brand, Zudio. The company’s sales increased by 56% in the latest quarter, surpassing competitors like Avenue Supermarts and Aditya Birla Fashion & Retail. Trent’s market value is approaching $30 billion, and inclusion in the Nifty 50 could attract an additional $500 million…

By Vishal Kumar
August 26, 2024
Read more about the article Discover the Multibagger Stock That’s Making Headlines with a Rs 159.75 Crore Project
Science / Business / Technology

Discover the Multibagger Stock That’s Making Headlines with a Rs 159.75 Crore Project

Key Points Welspun Enterprises Limited's subsidiary, Welspun Michigan Engineers Limited (WMEL), has secured a Rs 159.75 crore contract from Brihanmumbai Municipal Corporation (BMC). The contract involves rehabilitating 17 km of sewers in Mumbai using trenchless technology. The project is expected to be completed within 24 months, excluding the monsoon season. Welspun Enterprises has seen a 120% increase in its stock value over the past year, compared to a 26% increase in the BSE Sensex Index. The company's current order book totals Rs…

By Vishal Kumar
August 26, 2024
Read more about the article Jonnagiri Farmer Discovered A Diamond On His Farm. Became A Millionaire Overnight
Entertainment / Business / Family

Jonnagiri Farmer Discovered A Diamond On His Farm. Became A Millionaire Overnight

Key Points Boya Ramanjaneyulu, a farmer from Jonnagiri in Kurnool district, discovered a diamond on his farm. Ramanjaneyulu and his brother Shekhar work on their two-acre farm and drive for extra income when needed. He sold the diamond to a local trader for Rs 12 lakh and five tolas of gold. The incident has made him a millionaire overnight, though local police are unaware of the event. Diamonds are commonly found in agricultural lands in the region, attracting seekers from various cities.…

By Vishal Kumar
August 25, 2024
Read more about the article Is the New Tax Regime Really That Good? 72% of Taxpayers Think So!
Business / Politics

Is the New Tax Regime Really That Good? 72% of Taxpayers Think So!

In Short: Finance Minister Nirmala Sitharaman announced that 72% of taxpayers have opted for the new tax regime, which offers a simpler and more straightforward system compared to the previous one. Speaking at the Income Tax Department’s 165th anniversary, she emphasized that this new tax regime is designed to be user-friendly, with fewer exemptions and complications. Sitharaman praised the high uptake as a positive outcome, noting that it was introduced as an option rather than a mandate. She also highlighted the substantial…

By Vishal Kumar
August 22, 2024
Read more about the article Central Employees’ DA Boost—Find Out How Much Extra You’ll Earn!
Business / Politics

Central Employees’ DA Boost—Find Out How Much Extra You’ll Earn!

In Short: In September, central employees might receive an exciting update regarding their dearness allowance (DA). The cabinet is expected to approve a 3% increase in DA, boosting the current rate from 50% to 53%. This adjustment, effective from July 1, 2024, will be based on recent Consumer Price Index (CPI-IW) data indicating higher inflation. The increase will provide notable financial relief to employees and pensioners, with additional payments for July and August issued as arrears. Key Points: - A 3% increase…

By Vishal Kumar
August 22, 2024
Read more about the article Private E-Buses in India: The Unseen Barriers to a Green Future
Technology / Business / Science

Private E-Buses in India: The Unseen Barriers to a Green Future

In Short Electric buses in India face significant hurdles, particularly in the private sector, where adoption remains minimal despite the country's ambitious climate goals. India aims to cut carbon emissions and achieve net-zero by 2070, with road transport being a key focus due to its substantial contribution to emissions. The government has incentivized the electrification of various vehicle categories through schemes like FAME II and PM e-Bus Sewa, but private intercity and interstate buses, which constitute 93% of the bus fleet, are…

By Vishal Kumar
August 21, 2024
Read more about the article The Great Crypto Debate: WazirX vs Liminal Custody in $230 Million Theft
Business / Science / Technology

The Great Crypto Debate: WazirX vs Liminal Custody in $230 Million Theft

In Short: A massive cyberattack has resulted in the theft of over $230 million from the Indian cryptocurrency exchange WazirX, with forensic analysis by Mandiant Solutions providing some clarity on the incident. Mandiant's report, which focused on three key laptops used by WazirX, found no evidence of compromise in these devices, implying that the attack did not stem from internal vulnerabilities. However, the scrutiny has shifted to Liminal Custody, which managed the wallet from which the funds were stolen. Liminal has disputed…

By Vishal Kumar
August 20, 2024

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