Japan earthquake: Indian embassy sets up emergency control room; Auto PLI scheme extended; Centre hikes Sukanya Samriddhi Yojana rates to 8.2%& more
#TopNews
Japan earthquake: Tsunami warning downgraded, Indian embassy sets up emergency control room
Japan has downgraded the 'major tsunami warning' issued for the Ishikawa Prefecture around 8:30 pm JST on Monday January 1. Following a series of powerful earthquakes along its western coastline, Japan issued tsunami alerts and instructed residents to evacuate coastal areas. A tsunami of about 3 metres (about 10 feet) high) was expected to hit Niigata and other prefectures on the western coast of Japan. Smaller tsunami waves were already confirmed to have reached the coastline, according to Japanese public broadcaster NHK TV. A tsunami measuring 40 cm has been recorded at Kashizawaki city in Niigata Prefecture.
India's gross GST collection rises 12% to ?14.97 lakh crore in April-December 2023
India's gross goods and services tax (GST) collection saw a substantial year-on-year growth of 12% during the April-December 2023 period, reaching ?14.97 lakh crore, the Finance Ministry said on Monday (January 1)
This marks a notable increase from the ?13.40 lakh crore collected in the corresponding period of the previous year (April-December 2022).
CNBC-TV18 Poll: Majority of economists expect India's FY25 GDP to be between 6.2% and 6.4%
The global economy navigated a challenging 2023, enduring some setbacks but managing reasonably well with the anticipation of a soft landing in 2024. Against this backdrop, CNBC-TV18 surveyed a group of economists to gather insights into their projections for the Indian economy in 2024.
As per the survey results, a majority of 60% of respondents anticipate the Indian economy to achieve a growth rate ranging between 6.2% and 6.4% in FY25, while 30% foresee the GDP reaching approximately 7% in the same fiscal year.
#WorldNews
Red Sea attacks disrupt global trade, experts weigh in on potential impact on freight costs
In the aftermath of attacks by Houthi rebels in the Red Sea, global trade is grappling with heightened freight costs. The situation escalated when Houthi rebels targeted a Singapore-flagged Maersk container, prompting the US military to sink three Houthi boats.
However, the major concern for global trade arises from Maersk's decision to withdraw its ships from the Red Sea for at least the next 48 hours.
#Banking
RBI unveils in-depth rules on idle accounts, revises bulk deposit limits for urban co-op banks
The Reserve Bank of India (RBI) on Monday (January 1) announced a set of significant measures, ushering in comprehensive guidelines for the management of inoperative accounts and concurrently revising the bulk deposit limits for urban cooperative banks (UCBs).
The guidelines, effective from April 1, 2024, mandate the transfer of credit balances in accounts untouched for 10 years or more to the Depositor Education and Awareness (DEA) Fund maintained by the RBI.
As part of this initiative, a thorough review was conducted in consultation with stakeholders, leading to the issuance of comprehensive guidelines.
#StartupNews
Food delivery platforms record order surge on New Year's eve, anticipate thriving 2024
On the cusp of the New Year, food delivery platforms witnessed unprecedented success breaking through previous order records and marking a significant surge in consumer demand. CEOs of industry leaders, Swiggy and Zepto, reflected on their companies' commendable performance in 2023 and expressed anticipation for an action-packed first half of 2024.
In an exclusive conversation with CNBC-TV18, they provided exclusive insights into this uptick, offering a glimpse into the evolving landscape of the food delivery industry.
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#AutoNews
Auto PLI scheme extended: ?25,938 crore boost for Indian automobile industry
The Ministry of Heavy Industries extended the Production-Linked Incentive (PLI) Scheme for Automobiles and Auto Components by a year. The decision was made after the Empowered Group of Secretaries (EGoS) approved it.
The Ministry has also changed the scheme to provide more clarity and flexibility. The incentive under the amended scheme will now be applicable for five consecutive financial years, starting from FY24. The previous tenure of the scheme was from FY23 to FY27.
#BankingAndFinance
Total value of ?2,000 banknotes in circulation declines to ?9,330 crore
As many as 97.38% of the ?2,000 denomination banknotes in circulation as of May 19, 2023, have been returned so far, the Reserve Bank of India (RBI) said on Friday, January 1, 2024. With this, the total value of ?2,000 banknotes in circulation has declined to ?9,330 crore as of the close of business on December 29, 2023, the central bank said.
The total value of ?2000 banknotes in circulation was ?3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ?2000 banknotes was announced.
#PersonalFinance
Over 8 crore income tax returns filed till December 31 for AY 2023-24, up 9%
The Income Tax Department recorded more than 8.18 crore income tax returns (ITRs) filed up to December 31, 2023, for the assessment year 2023–24 (AY 2023–24), according to the Ministry of Finance.
This is a 9% hike from the 7.51 crore ITRs filed in the corresponding period of AY 2022–23, as per a release During the period until December 31, 2023, a total of 1.60 crore audit reports and other forms were filed in comparison to 1.43 crore audit reports and other forms in the corresponding period of the previous assessment year.
Sukanya Samriddhi Yojana rates hiked to 8.2% — How it compares with other higher education schemes
The government has recently hiked interest rates of Sukanya Samriddhi Yojana (SSY) for January-March 2024 quarter by up to 20 bps. With this, the rate now stands at 8.2%. Before this, the revision was done in April-June 2023 quarter when it was raised from 7.6% to 8%.
The SSY is a savings scheme aimed at fostering a financial safety net for the girl child. It can be opened by a guardian in the name of a girl child below the age of 10 years. The account can be initiated with a minimum deposit of ?250. Subsequently, deposits can range from a minimum of ?250 to a maximum of ?1.50 lakh in a financial year.
#Technology
Dell Latitude 7440 Ultralight Review: A solid upgrade for professionals and creators
he Dell Latitude 7440 Ultralight 2-in-1 offers a compelling mix of classy design, performance, and price. With 16 GB of RAM and an i7 processor, it has more than enough power to get you through the most demanding tasks. How well the 2-in-1 form factor holds up to the rigours of time remains to be seen, but in my limited experience, it was quite impressive and, more importantly, a lot of fun to use.
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