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Indian banks have witnessed a surge in hiring, reaching their highest hiring numbers in a decade in FY23. Private banks are leading the way in aggressive hiring, particularly in customer interface, lending, assurance, and technology functions.
12:10 PM
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Nifty50 reached a fresh record high as the Indian economy grew faster than expected in the September quarter. The economy expanded by 7.6%, surpassing the Reserve Bank of India's estimate of 6.5%. The manufacturing sector played a significant role in driving this growth.
9:11 AM
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X CEO Linda Yaccarino supports Elon Musk after his insulting comments towards advertisers; in a memo to employees, Yaccarino reaffirms the company's principles and mission, not compromising for critics; she encourages staff to watch Musk's candid and profound interview at the DealBook conference; Yaccarino openly stands up for X's owner despite his behavior alienating advertisers and decreasing advertising revenue; X is still indebted to banks after Musk's Twitter takeover.
10:10 PM
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DreamFolks collaborates with Grey Wall, an airport and lounge service aggregator in Russia, to enhance the travel experience for passengers. The partnership offers comprehensive coverage across Russia, including key locations like Moscow and St. Petersburg. Travelers can now access around 100 lounges through DreamFolks' proprietary tech platform. The alliance benefits both entities by increasing footfall at Grey Wall's lounges and providing seamless access to airport lounges for DreamFolks' clients. DreamFolks manages airport lounge benefits for top banks in India and has a market share of over 90% in the domestic lounge access market.
12:12 PM
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December 2023 bank holidays: The Reserve Bank of India (RBI) has released the holiday calendar for December 2023, which will impact banking activities. Banks will be closed for a total of eighteen days during the month, with specific holidays varying by state.
11:10 AM
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This article discusses the seven best lifetime free credit cards with zero annual and joining fees. These credit cards are gaining popularity for providing multiple rewards and benefits. The featured banks include HDFC Bank, Kotak Mahindra Bank, IDFC FIRST Bank, ICICI Bank, YES Bank, Standard Chartered Bank, and Bank of Baroda. Each bank offers unique features and rewards such as reward points, fuel surcharge waivers, and discounts on specific categories. By choosing a lifetime free credit card, users can avoid the burden of recurring annual and renewal fees.
6:10 AM
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Sebi-registered special situation funds, a type of alternative investment fund (AIF), will be permitted to purchase and sell distressed loans - an arena dominated by asset reconstruction companies, banks, and finance companies. This proposed development has the potential to reshape the stressed asset landscape by bringing in foreign capital, given that AIFs operate without stringent capital requirements and are subject to more relaxed regulations compared to entities regulated by RBI.
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December is a crucial month for financial deadlines. Here are eight important deadlines to keep in mind, including special fixed deposit programs, Aadhaar updation, home loan offers, and more. Timely compliance is essential to take advantage of the various benefits and offers available.
6:10 AM
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The government is considering deploying a series of measures to curb the growing menace of cyber frauds in the financial sector, including blocking the IMEI, the unique number of mobile devices, and restricting withdrawals from suspicious accounts to prevent its use in future incidents. Besides, a proposal to "whitelist" digital lending apps was among options discussed at a meeting in the finance ministry, amid an unprecedented rise in cyber frauds.
12:12 PM
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Pakistan's benchmark share index breaches 60,000, reaches all-time high of 60,500.61 points. Investors expect central bank's policy interest rate cut due to slowing inflation. Despite political and economic difficulties, index gains over 48% this year. Analysts believe market is welcoming staff level agreement for IMF funds. Market valuation remains attractive with KSE100 index trading at 4.5 times price-to-earnings multiple.
4:10 PM
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The US dollar is set for its biggest monthly drop in a year as traders watch for economic cues. This week, there will be a postponed OPEC+ meeting, release of inflation measures, consumer prices data, rate decision from the Reserve Bank of New Zealand, and Chinese PMI data. The dollar index slipped, reflecting expectations that US rates may have peaked. The British pound rose against the weaker dollar, while the Australian dollar and kiwi also gained strength.
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