DDIndia Business: Economic Headlines & Updates

Business

January 28, 2025 12:27 PM

India sees 100-fold jump in retail digital payments over 12 years: RBI

Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 16,416 crore transactions in the financial year 2023-24 — an approximately 100-fold increase over 12 years, according to a new RBI report....

January 28, 2025 12:20 PM

American AI firms try to poke holes in disruptive DeepSeek

Developers at leading U.S. AI firms are praising the DeepSeek AI models that have leapt into prominence while also trying to poke holes in the notion that their multi-billion dollar technology has been bested by a Chinese newcomer's low-cost alternat...

January 28, 2025 12:15 PM

Number of credit cards more than doubled to 10.8 crore in 5 years, transactions surge: RBI

The number of credit cards has more than doubled to around 10.80 crore at the end of December 2024, compared to December 2019 when there were 5.53 crore cards in circulation, according to a new RBI report. In contrast, number of debit cards has rema...

January 28, 2025 10:30 AM

Nifty, Sensex rebound in early trade as US markets sink amid new AI fears

India's benchmark indices opened higher on Tuesday after ending over seven-month low in the previous trading session. As of 9.33 a.m., the Sensex was 303 points or 0.41 per cent higher at 75,694 while the Nifty 50 went up 70 points or 0.30 per cent ...

January 28, 2025 9:13 AM

China’s AI drive hammers global tech stocks

U.S. stock futures steadied, the dollar ticked higher and tech stocks in Asia slid on Tuesday following a wave of selling as apparent advances by a Chinese AI startup cast doubt on U.S. dominance and spending in one of the market's hottest sectors. ...

January 27, 2025 8:16 PM

RBI plans Rs 1.1 lakh crore liquidity infusion in banking system

The Reserve Bank of India (RBI) has announced a plan on Monday to inject an additional Rs 1.1 lakh crore into the banking system through various measures, including open market purchase auctions of Government securities and a variable rate repo aucti...

January 27, 2025 5:34 PM

Indian Healthcare Sector Makes Strong Showing at Arab Health 2025

The 50th edition of the Arab Health Exhibition & Congress opened today at the Dubai World Trade Centre, featuring a substantial Indian presence of 361 companies showcasing the nation's pharmaceutical and healthcare capabilities. The event, runnin...

January 27, 2025 4:35 PM

Sensex, Nifty decline over 1% amid global cues, US trade concerns

Indian equity markets fell on Monday, influenced by global trends and uncertainties regarding US trade policies. The BSE Sensex dropped 824 points or 1.08%, closing at 75,366. The NSE Nifty50 declined by 263 points or 1.14% to end at 22,829. On the...

January 27, 2025 4:24 PM

Saudi Arabia allows foreigners to invest in firms with property in Mecca, Medina

Saudi Arabia's market regulator said on Monday it would allow foreign investment in listed companies that own real estate within Islam's two holiest sites of Mecca and Medina, as the Gulf country looks to attract more investment. The move will allow...

January 27, 2025 4:10 PM

Tech drags global shares lower on China’s AI push; dollar dips

European and Asian shares slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence model to rival OpenAI's ChatGPT. Meanwhile, the dollar dipped as broad U.S. import t...