Author: Rasmita Jena

  • RBI’s New Strategy for Better Credit Access in Local Communities

    RBI’s New Strategy for Better Credit Access in Local Communities

    RBI Deputy Governor Swaminathan J recently shared that banks should create credit plans by first listening to the needs of local communities. Speaking to lead district managers in Maharashtra, he emphasized that understanding the priorities of people in different areas helps banks better meet their funding needs.

    The Lead Bank Scheme (LBS), started in 1969, was designed to help banks and the government work together. Swaminathan stated that plans should be based on real data gathered from local surveys instead of just theories. This hands-on approach helps identify where money is needed the most and ensures that loan plans fit local needs.

    He pointed out that around half of the Self-Help Groups (SHGs) still don’t get formal loans, and many small farmers are also unable to access bank funds. Businesses, especially those run by women, are another group that often miss out on financial help. Thus, by combining data analysis with real-world experience, banks can better serve these groups with more effective credit plans.

    Over the years, LBS has adapted to meet India’s changing needs, allowing banks and government agencies to improve access to banking services and provide essential funding to key areas.

  • Winter Weather Disrupts Schools in North Carolina: What to Expect

    Winter Weather Disrupts Schools in North Carolina: What to Expect

    Winter is here in North Carolina! Many schools are closed, delayed, or switching to remote learning because of the cold and snow. Charlotte saw its first snowfall in three years, while nearby areas faced slippery ice.

    Some school districts have made changes for Tuesday. Iredell County Schools are closed, allowing teachers to work from home. Lincoln County schools start two hours late because of black ice, and Alexander County has a similar delay. In Ashe County, students will learn online—elementary classes start at 9 a.m. and high school classes at 10 a.m. Other schools, like ones in Guilford, Winston-Salem/Forsyth, and Lexington City, also announced closures or delays and some are offering remote learning.

    In Charlotte, a light snowfall created a winter alert, especially in areas north and west of the city. The weather for the rest of the week is expected to be cold with plenty of sunshine. Temperatures will be in the 40s during the day but may drop to the 20s at night. Tonight, it will be very cold, with temperatures dipping into the teens. Charlotte might get close to a record low of 18 degrees.

    As the week goes on, a cold front will return temperatures to the 40s on Friday and Saturday, with a little warm-up by Sunday. Be ready for possible rain next Monday!

  • Prithvi Shaw’s IPL Snub: Time for a Comeback?

    Prithvi Shaw’s IPL Snub: Time for a Comeback?

    Prithvi Shaw: A Talented Cricketer in Trouble

    Prithvi Shaw, a young cricketer from India, has been facing tough times lately. He’s known for his great skills on the field, but he has struggled with discipline, fitness, and his performance. Recently, during the IPL 2025 mega auction, he didn’t get picked by any team, which is a big deal because this is the first time in six years that he has no IPL team.

    Many important figures in cricket, like Ricky Ponting and Pravin Amre, have criticized him for his performance and behavior. However, former Indian spinner Harbhajan Singh has given Shaw some encouraging words. Harbhajan believes that Shaw has the potential to bounce back, but he has to take charge of his own career.

    About ten years ago, Shaw was compared to the legendary Sachin Tendulkar, which put a lot of pressure on him. Harbhajan pointed out that these early comparisons can really affect players. He reminded Shaw that he needs to focus on improving his fitness, which seems to have been neglected lately.

    Despite the setbacks, Shaw has shown he can perform well—last year, he scored an incredible 379 runs in a Ranji Trophy match and made a fantastic debut in the One-Day Cup with 244 runs. However, his poor performance in this year’s IPL and indiscipline has cost him a spot in the Mumbai Ranji Trophy squad.

    Harbhajan hopes that being unsold in the IPL will motivate Shaw to work hard and make smart choices. He believes that Shaw has all the talent he needs but just needs to get his mindset right to succeed.

  • Priyanka Chopra’s Journey: From Bollywood Star to Film Producer!

    Priyanka Chopra’s Journey: From Bollywood Star to Film Producer!

    Priyanka Chopra started her own movie production company called Purple Pebble Pictures in 2015, just before she became famous worldwide with her role in the TV show “Quantico.” On a podcast called Something Bigger Show, Priyanka’s mom, Madhu Chopra, shared that this company was actually a backup plan for Priyanka.

    Madhu said, “When Priyanka got the chance to work in America, I told her, ‘You’re at the top of your career in India. Are you sure you want to start over in the U.S.? Let’s have something here for you to rely on, so you won’t be worried if things don’t go as planned.’ That’s how we came up with Purple Pebble Pictures. It was more like our Plan B.”

    However, when Priyanka became successful in Hollywood, her company also grew. Madhu added, “She thinks in a different way. Our production house focuses only on regional films. Priyanka wanted to use her success to help others. She always gives chances to newcomers in every film, whether they are writers, directors, or actors. Since she had a tough journey, she wants to help others too.”

    About Purple Pebble Pictures:

    The company started with a Bhojpuri movie called “Bam Bam Bol Raha Hai Kashi” in 2016. Their next film, “Ventilator,” won three National Awards. In 2018, a first-time director, Paakhi Tyrewala, made a Nepali film called “Pahuna: The Little Visitors” with Priyanka’s help. In 2019, her Marathi film “Paani” won a National Film Award for the Best Film on Environment Conservation. Priyanka has also made films in Punjabi, Assamese, and English.

    Priyanka acted in her own produced movies like “The Sky Is Pink” and “The White Tiger.” Her most recent project was an English film titled “Born Hungry,” released earlier this year.

  • Indian Stocks Surge with HDFC Bank and Reliance Gains!

    Indian Stocks Surge with HDFC Bank and Reliance Gains!

    On Tuesday, Indian stock markets gained strength, thanks to two big companies: HDFC Bank and Reliance Industries. Investors were excited by talks from U.S. Federal Reserve officials hinting at a possible 0.25% decrease in interest rates later this month.

    The main index, S&P BSE Sensex, climbed by 597.67 points, or 0.74%, finishing at 80,845.75. The broader Nifty 50 index also did well, increasing by 181.10 points, or 0.75%, to close at 24,457.15.

    High-weight bank stocks saw a 1% rise, especially with HDFC Bank gaining 1.2%. Public sector banks, including the State Bank of India, reported increases between 2% and 3.3%. Reliance Industries, which has already risen 3% in the past two days, added another 1.2% on Tuesday.

    Expert Opinions
    Rupak De, a Senior Technical Analyst from LKP Securities, explained that the Nifty index showed bullish signs by moving above a key Fibonacci level. This suggests a potential rise in stock prices. He added that as long as the index stays above 24,400 points, there could be chances for it to reach 24,600–24,700 points. If it falls below 24,400, we might see a drop towards 24,150 points.

    Global Markets
    In global news, stocks around the world mostly rose on Tuesday, influenced by strong tech performances in the U.S. Hong Kong’s Hang Seng index increased by 1.0%, reaching 19,746.32, and Japan’s tech-heavy Nikkei jumped by 1.91%. This week will include important updates about job numbers in the U.S., which could impact the decisions of the Federal Reserve regarding interest rates.

    Forex Update
    The Indian rupee ended the day stable at 84.6850 per U.S. dollar. It hit a record low recently due to a stronger U.S. dollar and a weak Chinese yuan. The dollar index, which measures the U.S. dollar against six other currencies, was down by 0.15%.

  • Exciting Changes in Banking Laws to Enhance Customer Experience

    Exciting Changes in Banking Laws to Enhance Customer Experience

    On Tuesday, Finance Minister Nirmala Sitharaman revealed new changes in banking laws designed to make banking better for everyone. These changes will be discussed in the Lok Sabha and include 19 important amendments to various banking laws, including the Reserve Bank of India Act and the Banking Regulation Act.

    One major change will allow bank account holders to have up to four nominees, making it easier for families to manage accounts. The bill will also protect investors’ money by sending unclaimed dividends, shares, and bond interest to the Investor Education and Protection Fund (IEPF). This means individuals can get their money back if they have claims.

    Sitharaman explained that these changes are necessary as banking has changed over time. The amendments aim to improve how banks are managed and keep customer interests safe.

    Key points include:

    – Better governance for banks and improved reporting to the Reserve Bank of India.
    – More protection for depositors and investors.
    – Improved quality of audits for public sector banks.
    – Increase in the tenure of cooperative bank directors from 8 to 10 years, in line with new rules.
    – Clearer rules about who can be a director in banks, raising the financial limit from Rs 5 lakh to Rs 2 crore, which hasn’t changed in almost 60 years.
    – Cooperative banks will have the new rules applying only to their banking activities.
    – Directors of Central Cooperative Banks will now be able to serve on the boards of State Cooperative Banks.
    – Banks will have more flexibility in deciding how much to pay their auditors.
    – Changes will also set new reporting dates for banks, making it easier for them to comply with rules.

    These amendments were first mentioned in the 2023-24 Budget speech, showing the government’s commitment to better banking services for everyone.

  • Neale Fraser, Australian Tennis Star, Dies at 91 – A True Legend

    Neale Fraser, Australian Tennis Star, Dies at 91 – A True Legend

    Neale Fraser, a famous tennis player from Australia, has died at the age of 91. He was a big star in tennis and won many important matches. Fraser played in the 1950s and 1960s and was known for his amazing skills on the court.

    He won the Wimbledon singles title three times and was a great doubles player too, winning another title at both Wimbledon and the Australian Open. Apart from his achievements on the court, Fraser was also admired for his sportsmanship and kindness to other players.

    In his later life, he coached many young tennis players and shared his love of the game. His friends and family remember him as a caring person who always smiled and supported others.

    Fraser leaves behind a great legacy in tennis, inspiring many young players to follow in his footsteps. He will be missed by fans and players around the world.

  • Russia Sells Carlsberg’s Brewery Assets for $320 Million

    Russia Sells Carlsberg’s Brewery Assets for $320 Million

    The Russian government has given the go-ahead for the local company VG Invest to buy the assets of Danish brewer Carlsberg in Russia for 34 billion roubles, which is about $320.75 million. This deal came after Russia took control of Carlsberg’s share in Baltika Breweries back in July 2023. Carlsberg’s CEO, Jacob Aarup-Andersen, said that the company had its business taken from them.

    Recently, Carlsberg’s assets were no longer managed by the government. In the new deal, some of Baltika’s shares in businesses in Azerbaijan and Kazakhstan will be handed over back to Carlsberg. In exchange, Carlsberg will transfer a brewery in Russia called Hoppy Union.

    It’s important to note that Carlsberg is selling its assets at a much lower price than their actual worth. Carlsberg stated in February 2023 that their assets in Russia were valued at 7.52 billion Danish crowns (around $1.06 billion) by the end of 2022.

    Since Russia faced Western sanctions for its actions in Ukraine, it has been making it harder for foreign companies to exit. The government has required these companies to sell at lower prices than they would normally get, and they also impose an extra fee on the sale, often referred to as an “exit tax.”

    VG Invest was only started in August and is run by Yegor Guselnikov, who is also a vice president at Baltika. He co-owns another company, Brewery Development Centre (BDC), with Alexander Tolmachev, who previously worked with Heineken in Russia.

    This sale of Carlsberg’s assets to VG Invest follows a similar situation with the French company Danone, whose assets were also sold off to a businessman with close ties to the Russian government.

  • Churachandpur Residents Protest Against Fence Removal at India-Myanmar Border

    Churachandpur Residents Protest Against Fence Removal at India-Myanmar Border

    People in Churachandpur, a town in Manipur, joined together in a big protest. They were upset about the government’s decision to remove special fences along the India-Myanmar border. These fences were important because they helped protect their lands and homes. The protesters held signs and shouted slogans, expressing their worries about safety and the impact of this decision on their community. They want the government to think again and keep the fences to avoid problems. Many families joined the protest, hoping their voices would be heard.

  • Marico Ltd. Shares: Latest Price Update and Market Insights!

    Marico Ltd. Shares: Latest Price Update and Market Insights!

    Today, Marico Ltd. shares were trading at Rs 639.95, which is 1.05% lower than yesterday’s closing price of Rs 646.80. This drop comes while the overall market, represented by the BSE Sensex, dropped by 655.29 points to reach 80,903.37.

    Marico’s shares have seen a high of Rs 719.80 and a low of Rs 486.75 over the past year. So far today, 11,896 shares were traded, bringing in about Rs 0.77 crore.

    Looking at the company’s value, the shares are trading at a Price-to-Earnings (P/E) ratio of 52.24, which means investors expect the company to grow in the future. They also have a Price-to-Book (P/B) ratio of 16.73. This means people are paying this price even if the company is not expected to grow fast.

    The stock’s Beta value is 0.7960, which means it is less volatile than the market.

    In terms of ownership, as of September 30, 2024, company promoters own 59.2% of Marico, Foreign Institutional Investors (FIIs) hold 24.87%, and Domestic Institutional Investors (DIIs) have 4.92%.

    On the technical side, the Relative Strength Index (RSI) is 53.45. RSI is a number that helps traders see if a stock is overbought (above 70) or oversold (below 30). However, it’s important to look at other factors too; just one number isn’t enough to make buying or selling decisions.