Today's financial news headlines in English, medical insurance government, illegal foreign exchange transaction, 1000 Paytm employees sacked, etc. will be seen here.
'Incredible' gets unicorn status
Fintech firm Ingrid has raised nearly Rs 500 crore from its previous and new investors. Subsequently, its value has increased to 8,632 crore rupees and it has acquired the status of a 'unicorn' enterprise. And this year, it is also the second company to receive the unicorn status. A startup gets the status of a unicorn when it reaches a valuation of one billion USD i.e. almost Rs 8,300 crore.
China approves 'online games'
China is now approving 105 new online games after proposed restrictions on online games caused huge losses for investors.
China has imposed some restrictions on children's access to gaming and live-streaming platforms.
As a result, the shares of the leading game maker plunged and incurred heavy losses. After that, China is changing the situation.
1,000 'PAYTM employees fired
Fintech firm Paytm has laid off more than 1,000 of its employees. Recently RBI has tightened the norms for unsecured personal loans. Subsequently, Paytm had announced that it would reduce the provision of small loans below 50,000 rupees. In this case, it is currently engaged in layoffs to reduce costs. It has laid off 20,000 in 2021 and 4,000 BDM in 2022.
Medicare government review
Union Consumer Affairs Secretary Rohit said that the central government is going to talk to the Insurance Regulatory and Development Authority of India (IRETA) about revising the rules of insurance companies that only provide medical insurance coverage if they are hospitalized for at least 24 hours. Kumar Singh said.
The government is reconsidering the rules on the basis that these regulations are against the public interest as many treatments are completed before 24 hours in the present era.
Coimbatore Amrita University Renault Nissan Agreement
Coimbatore-based 'Amrita Viswa Vidyapeedam' has signed an MoU with 'Renault Nissan Technology and Business
Center India' to innovate in automotive research.
According to the university administration, the main objective of this MoU is to develop cooperation in various fields including placements, joint research projects in selected courses, establishment of specialized centers and laboratories.
Foreign investment in the current year is Rs 1.62 lakh crore
Foreign investors invested Rs 67,300 crore in the Indian stock market this month. Consequently, the total foreign investment for the current year has exceeded 1.62 lakh crore rupees.
Foreign investment has increased due to political stability, strong economic growth and a steady decline in US bond yields. It was Rs 57,300 crore as on 22nd. Also, it is the highest monthly investment for the current year.
Foreign investment, earlier in October, stood at Rs 9,000 crore. Earlier in September and August, investors had withdrawn Rs 39,300 crore. In this situation, the total foreign investment for the current year has exceeded 1.62 lakh crore rupees.
US interest rates are expected to decline next year. Hence, investors have the opportunity to increase their investments further.
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