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Why Digvijaya thinks Kamal Nath won't join BJP

February 17, 2024 - 2:24pm
Categories: Business News

Digital Naari launched for women employment

February 17, 2024 - 2:11pm
PayNearby, a branchless banking and digital network, has launched a platform to generate sustainable self-employment for women, the company said in a statement on Saturday.The initiative, named by the company Digital Naari, is aimed at providing additional income generation opportunities for women in rural and semi-urban areas, the statement said.The platform will enable the ‘banker didi’ to provide a diverse range of financial and digital services to the masses. The person will have the flexibility to offer services at her convenience in terms of time, location (from home/store) and product preferences.“Our collaborations with various livelihood missions, including Uttar Pradesh State Rural Livelihood Mission, Rajasthan Grameen Aajeevika Vikas Parishad and Grameen Foundation India, are propelling countless women towards economic independence and societal recognition through our Digital Naari app,” said Anand Kumar Bajaj, founder, MD & CEO, PayNearby.Catering to the needs of rural women, the services include cash withdrawal, bank account opening, money transfer, recharge, assurance (insurance + assets), credit and ecommerce, facilitating their path to financial literacy and financial independence.Aligned with the government's ‘Lakhpati Didi’ initiative, the platform seeks to onboard and uplift 100,000 women by the end of 2025, facilitating their economic empowerment, the statement said.The goal is to help women business owners, single women and women with literacy challenges to have sustainable livelihood opportunities while enhancing their financial well-being and fostering self-reliance.PayNearby has a network of over 10,000 women collectively steering more than Rs 1,000 crore of transactions annually.The new platform aims to broaden this network by partnering with organisations, self-help groups and individuals dedicated to promoting sustainable livelihood among rural women.“We extend an open invitation to like-minded institutions and self-help groups to join us in maximising the reach of this initiative and empowering women,” Bajaj added.
Categories: Business News

AAP attacked; confidence motion passed: Delhi CM

February 17, 2024 - 1:58pm
Categories: Business News

Learn with ETMarkets: Reading price patterns in gold, silver via head & shoulders, double tops and bottoms

February 17, 2024 - 1:14pm
In the realm of MCX Gold and Silver trading, understanding price patterns is crucial for informed decision-making. Three prominent patterns — heads & shoulders, double tops and double bottoms — offer valuable insights into potential price movements, aiding traders in navigating the dynamic precious metals market.Head & ShouldersThe head & shoulders pattern typically signals a trend reversal from bullish to bearish. It consists of three peaks—the left shoulder, head, and right shoulder—where the central peak (head) is higher than the two shoulders. Traders can use this pattern to anticipate a downward price movement following the completion of the right shoulder.How to useIdentification: Look for three consecutive peaks with the central peak (head) being the highest.Confirmation: Confirm the pattern with a neckline drawn by connecting the lows of the left and right shoulders.Entry/Exit: Enter a short position when the price breaks below the neckline. Set a stop-loss above the right shoulder. Exit the trade when the price reaches a target based on the pattern's height.107774426Double TopsA Double Top pattern occurs when the price reaches a resistance level twice, failing to break above it. It signals a potential reversal from bullish to bearish, with traders anticipating a downward price movement following the second failed attempt to break the resistance.How to UseIdentification: Look for two consecutive peaks at approximately the same price level, separated by a trough.Confirmation: Confirm the pattern by drawing a neckline connecting the lows between the two peaks.Entry/Exit: Enter a short position when the price breaks below the neckline. Set a stop-loss above the second peak. Exit the trade when the price reaches a target based on the pattern's height.107774438Double BottomsConversely, a double bottom pattern signals a trend reversal from bearish to bullish. It consists of two consecutive troughs, with the second trough higher than the first, indicating a potential upward price movement.How to useIdentification: Look for two consecutive troughs at approximately the same price level, separated by a peak.Confirmation: Confirm the pattern with a neckline drawn by connecting the highs between the two troughs.Entry/Exit: Enter a long position when the price breaks above the neckline. Set a stop-loss below the second trough. Exit the trade when the price reaches a target based on the pattern's height.107774467ConclusionBy mastering price patterns like Head and Shoulders, Double Tops, and Double Bottoms, traders gain valuable insights into potential trend reversals and price movements in MCX Gold and Silver contracts. These patterns serve as powerful tools for identifying entry and exit points, enabling traders to make informed decisions and navigate the complex dynamics of the precious metals market with confidence. As with any trading strategy, it's essential to combine pattern analysis with risk management principles and adaptability to changing market conditions for sustained success.(The author is Vice President Commodities & Currency Research at LKP Securities)
Categories: Business News

Paytm wallet, FASTag: What's allowed, what's not

February 17, 2024 - 12:55pm
Categories: Business News

Himachal CM announces hike in MSP for milk

February 17, 2024 - 12:40pm
Categories: Business News

India backs UNSC reform: Ruchira Kamboj

February 17, 2024 - 12:40pm
Categories: Business News

Tent collapses at Jawaharlal Stadium; injures 8

February 17, 2024 - 12:30pm
Categories: Business News

LIC Amritbaal insurance plan launched for kids

February 17, 2024 - 12:06pm
Categories: Business News

Govt permits Indian companies to list directly in IFSC. How it impacts investors

February 17, 2024 - 11:39am
In a strategic move to enhance foreign investment in Indian companies, the Government of India has unveiled a groundbreaking set of regulations that allow public companies to list on International Financial Services Centre (IFSC) stock exchanges. This move follows the announcement made in July 2023 and incorporates the recommendations of the Working Group's report on direct listings in IFSC released in December 2023.ImpactUnder the new regulations, public companies are permitted to list on IFSC stock exchanges, unlocking the potential to attract funds from qualified foreign investors. However, this opportunity remains exclusive to public companies, with private companies still excluded from direct listings. Eligible investors, excluding Indian residents, are granted permission to purchase equity shares listed on international exchanges, bringing a new dimension to cross-border investments, whereas the government has emphasised on regulatory approval for eligible investors from countries sharing a border with India. Furthermore, the notification has outlined specific pricing formulae for both listed and unlisted entities, ensuring transparency and fairness in the listing process.Potential benefits and concernsThe move is anticipated to bring several benefits for both investors and companies. Raising capital in IFSC is expected to streamline compliance-related aspects, reducing the burden associated with various laws and regulations. The International Financial Services Centre Authority will act as a centralised authority, facilitating a more efficient and cost-effective listing process. Certain issues require clarification for the success of this initiative. There are resident holding restrictions for accessing IFSC, and this move is expected to shift the potential investments from the domestic tariff area to the GIFT IFSC zone to avail various taxation benefits including exemptions on capital gain from the transfer of listed shares. Furthermore, this move challenges the existing tax treatment disparity between Indian retail investors and foreign investors using the Foreign Portfolio Investment route and also increases compliance risks for the ultimate beneficial holder.Additionally, the extension of the direct listing framework to other global exchanges beyond GIFT IFSC would broaden its scope and depth, making it a more comprehensive platform for international investments.The road aheadWhile the Securities and Exchange Board of India is set to issue operational guidelines for listed public Indian companies, clarity on Ultimate Beneficial Ownership remains a focus area. This significant step aims to integrate Indian capital markets with global counterparts, attracting foreign investors and infusing global best practices, advanced technologies, and access to international markets.The Indian government's commitment to creating a conducive environment for foreign investments is further underscored by this notification, positioning IFSC as a promising hub for global investments and acting as a catalyst for its promotion. As the regulatory landscape evolves, India inches closer to its goal of becoming a preferred destination for both domestic and offshore investors.(The author Manoj Purohit is Partner & Leader, Financial Services, Tax & Regulatory Services, BDO India. Views are own)
Categories: Business News

Priyanka Gandhi misses Rahul's Bharat Jodo Yatra

February 17, 2024 - 11:11am
Categories: Business News

BJP's two-day national council meeting begins

February 17, 2024 - 11:07am
Categories: Business News

US tech in a bubble waiting to pop: BofA strategist

February 17, 2024 - 11:03am
Categories: Business News

Pay for train ticket only when it's confirmed: How

February 17, 2024 - 11:01am
Categories: Business News

Congress veteran Kamal Nath and son to join BJP?

February 17, 2024 - 10:52am
Categories: Business News

Small exporters hit hard by Red Sea crisis

February 17, 2024 - 10:42am
Categories: Business News

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