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RBI is to launch a digital rupee pilot project

RBI is to launch a digital rupee pilot project

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Business News: RBI is going to launch the nation’s first digital rupee pilot project for the wholesale segment. The central bank said in the statement that they will soon launch the nation’s first digital rupee project for specific use cases. However, the first pilot in the digital rupee, wholesale segment shall commence on 1st November 2022.

RBI is to launch a digital rupee pilot project
RBI is to launch a digital rupee pilot project

The central bank further said that the first pilot digital rupee, the retail segment is planned for launch within a month in selected locations is closed user groups which comprising customers and merchants. However, the RBI has selected nine banks for participation in the digital rupee`s wholesale pilot project.

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Well, these are some of the biggest banks including State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank, and HSBC. The finance minister Nirmala Sitharaman announced in her budget speech on 1st February 2022 that RBI will be launching a Central Bank Digital Currency (CBDC) this fiscal. And CBDC is a digital form of currency notes that is issued by a central bank.

Additionally, Digital currency or rupee is an electronic form of money that can be used in all contactless transactions.

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Jiomart on WhatsApp is a big opportunity for us, said Zuckerberg 

Jiomart on WhatsApp is a big opportunity for us, said Zuckerberg 

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Business News: The CEO and founder of Meta, Mark Zuckerberg said that Jiomart on WhatsApp in India is really going to be a big opportunity for the paid messaging market. While, during the company’s Q3 earnings call, Zuckerberg said that there is another opportunity for paid messaging that they are starting to tap into. 

Jiomart on WhatsApp is a big opportunity for us, said Zuckerberg 
Jiomart on WhatsApp is a big opportunity for us, said Zuckerberg 

Furthermore, they have launched JioMart on WhatsApp in India, and this is their first end-to-end shopping experience that shows the potential for chat-based commerce through messages. And in the month of August, Meta and Jio platforms launched an end-to-end shopping experience where users can buy from JioMart via using WhatsApp Chat or messages. 

Here a new experience will be given to the users, customers can search or browse the JioMart catalog, add products to the cart and buy the products within their WhatsApp. However, the strategic partnership between the JioMart and WhatsApp or the Meta and Jio platforms to increase India’s digital transformation and provide people and businesses of all types of opportunities to connect in new and better ways and fuel economic growth in the country. 

Furthermore, earlier Mark Zuckerberg said in a statement that they are very excited to launch the partnership between JioMart in India. This is the first-ever end-to-end shopping experience on WhatsApp. It is very easy to use and learn, anyone can buy groceries from JioMart in just one chat. Even users can start shopping on JioMart by sending a simple Hi to the JioMart number on WhatsApp.

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Edible oil prices start to cool as imports are back on track

Edible oil prices start to cool as imports are back on track

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Business News : The country has been seeing inflation during and after the covid-era and it’s been on a continuous track since then but as we crossed this recent festival of Dussehra, we got to see a little decline in the graph of oil prices, especially in cooking oils.

Edible oil prices start to cool as imports are back on track
Edible oil prices start to cool as imports are back on track

The price of edible oil touched the sky during and after covid era more than ever before in history, stating that sunflower oil was being sold at Rs. 180 Per litre which used to be sold at 120-130 per litre before covid, the mustard oil price was just 150-160 before covid and last month’s price was Rs. 240 Per litre, a huge surge I would say. 

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But thanks to less import duty now, the prices of these oils are going down now which was previously impacted by the Russia-Ukraine war. For example, now the price of sunflower oil has dropped from 180 to 155 Rs. Litre. 

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One can get palm oil for under Rs. 100 now though the price of certain oils remained steady with little modulation here and there, such as rice bran oil and groundnut oil have not come down much and being at a range of 165-175 Rs. Per litre. Not to mention that the variation also depends on the brand type, hopefully, this ongoing inflation reduces the ease of the life for the middle-class family.

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SBTET to introduce Electric Vehicles subject in polytechnic or engineering diploma

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Business News Well, with the increasing number of electrical vehicles becoming mainstream, there are many career opportunities in this now. Now, there is a new opportunity for the students, who want to make their career in electrical vehicles, the SBTET means the State Board of Technical Education and Training has decided to introduce an elective course on Electric Vehicles. The State Board of Technical Education and Training has decided to introduce a subject on Electric Vehicles in all the polytechnic courses.

The SBTET now has entered into a Memorandum of Understanding with the Indo-German Vocational Education and Training which has shown their interest in designing the curriculum along with training the faculty members.

The subject of EVs will be introduced as an elective subject to the student course. Students pursuing the fifth semester across all polytechnic colleges in Telangana state will be eligible to take up the subject. It will have 3 credits for theory and 1.5 credits for practicals. Students will also be offered placement after completing the course.

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Chiranjeevi Intensifies Promotions Now

Chiranjeevi Intensifies Promotions Now

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Telugu Cinema News: Megastar Chiranjeevi’s upcoming movie, Godfather is scheduled to hit the floor on 5th October. Mega fans raised the question of promotions, where is the promotion? Hence, the makers are too late but now they have been intensifying promotions like anything.

Chiranjeevi Intensifies Promotions Now
Chiranjeevi Intensifies Promotions Now

The megastar has already done a special interview with the Sreemukhi traveling on a flight. He also binds in film companion editor Anupama Chopra for a video interview. The pre-release event will be held on 28th September in Ananthapur and there are also some other events in MUMBAI as well. So, the promotional activities are growing slowly. The movie is directed by Mohan Raja, Godfather will hit the theaters on 5th October. The movie is produced by NV Prasad.

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If we talk about the shooting, when everyone was waiting on the day of the shoot, he claimed that Puri was staying inside his caravan. Everyone was waiting for him on the scene. He eventually exited the caravan while smoking a cigarette and drinking tea, according to Chiranjeevi and he questioned Charmee about why Puri took so long to exit the caravan. But everyone was in awe of his effortless performance when he finally took his first shot. He went so far as to completely defend the character in the movie.

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Srinidhi Shetty looks gorgeous in a red lehenga saree!

Srinidhi Shetty looks gorgeous in a red lehenga saree!

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Celebrity Fashion Updates: Actress Srinidhi Shetty has had a successful year with multiple commercial successful movies like KGF2 and Cobra. The actress has become a Pan India star and every picture of her is getting viral on social media. Recently the actress took to Instagram to share some of her beautiful pictures wearing a Maroon lehenga saree from the brand Charu and Vasundhara from their Bageecha collections.

Srinidhi Shetty looks gorgeous in a red lehenga saree!
Srinidhi Shetty looks gorgeous in a red lehenga saree!

The lehenga saree Srinidhi Shetty has opted to wear is made out of beautiful deep red color and had the beauty attributed to it with the sheen of the fabric. The lehenga of the outfit is woven to attain a mermaid style towards the border. Moreover, the upper half of the saree is depicted with embroidery stripes embedded with stones and beads. Srinidhi Shetty has finally completed the outfit by wearing a sleeveless blouse showcased with floral detailing in self-color threads.

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Srinidhi Shetty has opted for a pair of ruby studded earrings, a choker, and a ring from the brand house of QC. For the hairstyle, she has opted for loose and wavy hair with a side partition to attain a glamorous look on the outfit. She had finally rounded off the look with Kohl-rimmed eyes with shimmery eyeshadow, blushed cheeks, highlighter, and red lips.

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Naga Chaitanya and Akhil to honor The Ghost event

Naga Chaitanya and Akhil to honor The Ghost event

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Tollywood News: The pre-release event of Nagarjuna’s the Ghost is planned to be held in Kurnool. The arrangements of the events are in progress. The event will be an eye feast for Akkineni fans as Nagarjuna, Naga Chaitanya, and Akhil going to share the stage.

Naga Chaitanya and Akhil to honor The Ghost event
Naga Chaitanya and Akhil to honor The Ghost event

Actor Naga Chaitanya and Akhil will be coming as the guests of the events. The event will be held at STBC college ground in Kurnool on 25th September. The Ghost movie is an action thriller, which is directed by Praveen Sattaru and features the star Nagarjuna and Sonal Chauhan as the Interpol officers. The movie is produced by Suniel Narang, in association with Puskur Ram Mohan Rao, and Sharrath Marar, the film’s teasers and trailer have developed enough craze.

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Gul Panag and Anikha Surendran played the role of Nagarjuna’s sister and niece in this movie. The movie is going to release on 5th October.

Furthermore, the BA Raju’s team posted on Twitter with the caption, lets the madness begin, The Akkineni Trio are gracing The Ghost Pre-Release Event at STBC College Ground, Kurnool at 6 pm, with the beautiful poster of the pre-release event.

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Cryptocurrency prices today, Bitcoin, ether, and Shiba Inu fall while dogecoin gains

Cryptocurrency prices today, Bitcoin, ether, and Shiba Inu fall while dogecoin gains

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Business News: Well, the Bitcoin price today remains above the $19,000 mark even as the world’s largest and most popular cryptocurrency was trading more than 2% lower at $19,042. The Global crypto market cap today remained below the $1 trillion mark, as it was down over a percent in the past 24 hours at $969 billion.

While the coin is linked to the Ethereum blockchain and the second largest cryptocurrency fell more than 1% to $1,344. An ether jump since mid-June that was soured by the hype around an upgrade of the Ethereum blockchain is rapidly unwinding now the revamp is done. Meanwhile, the investors are bracing for volatility from the jumbo interest rate hike expected this week from the Federal Reserve to fight price pressures.

Bitcoin has traded sideways between its support at $18,540 and the resistance at $20,415. Since the current price is nearly the support price, sellers are more active in the market.  If bulls can get back to the market by making a move to $20,000, see an upward trend. Whereas, Ethereum trades in a similar zone to BTC. It has not still piled the power to make a sharp move as sellers are more powerful than the buyers.

Meanwhile, the dogecoin price today was also trading about 2% higher at $0.05 whereas Shiba Inu slipped more than 2% to $0.000011. Other crypto prices in today’s performance were mixed as Uniswap, Polygon, Solana, Avalanche, Binance USD, Polkadot, Lite coin, Apecoin, Cardano, Chainlink, Tron, and Tether prices were trading with gains over the last 24 hours.

As per the reports of Bloomberg, Nasdaq Inc. is making its first major push into cryptocurrency, as the second-largest stock exchange is preparing to capitalize on the increasing appetite for digital currencies among big money services for bitcoin and Ether to institutional investors.

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Telangana MSME Green Industrial Park model is being examined for replication in other places

Telangana MSME Green Industrial Park model is being examined for replication in other places

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Business News: Goa said to implement the scheme line on the lines of T-Hub, and We-Hub TASK of Telangana to make the IT segment vibrant. Hence, a week after that and the HSIDC (Haryana State Industrial Development Corporation) visited the Telangana Industrialists Federation MSME Green Industrial Park as part of their study tour.

Telangana MSME Green Industrial Park model is being examined for replication in other places
Telangana MSME Green Industrial Park model is being examined for replication in other places

However, the Industrial Park located in the Dandumalkapur is a novel scheme which is conceived by the Telangana State. This is the first type of project in its kind where the MSME Industrial Park is likely designed to have an integrated township. Well, 60% of the park is allotted to micro, small and medium enterprises.

In the present phase, it is being made of about 543-acre land and allotted to 559 units, there more than 200 units have begun the construction of their production site and they are expected to start by next year in June 2023. The 30 units have already begun their production on the site and the remaining units will start construction soon.

The president of TIF, Sudhir Reddy said, in 2014, they visited many Industrial Parks, just to know how they are being operated, and now they are in a position to do the same, to inspire the other states too. And this all can be possible because of the efforts of the Telangana government in promoting the MSME segment across the Nation. When TIF Green Industrial Park completed its construction and started to operate, it will be the biggest MSME industrial park in South India.

By the Power, water, roads, and other infrastructure of the Industrial Park, it reaches the budget of Rs. 236 crores. The integrated township is planned on about 194 acres to promote the walk to work and will have a good number of schools, markets, some entertainment zones too, and also the other social infrastructure would be there. This project also got the appreciation of DPIIT (department for the promotion of Industry and Internal Trade) Additional secretary and some officials of Invest India visited the Industrial Park this month.

Furthermore, the project is being examined by the Government department and their officials and they will replicate this model of Industrial Parks in other locations too, hence this industrial park is setting a new benchmark in the nation. Also, this park has 40,000 plants inside it and it will have a drip irrigation system.

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RBI is likely to increase the repo rate by 50 basis points to 5.9% in the September policy

RBI is likely to increase the repo rate by 50 basis points to 5.9% in the September policy

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Hyderabad: The Monetary Policy Committee, the credit policy is likely to increase its repo rate by 5.90% and will not change its viewpoint. The reports said they were earlier expecting a 35bp increase but the sticky inflation and continued hawkish stance of DM central banks, and warrants are continuing front loading of rate hikes.

RBI is likely to increase the repo rate by 50 basis points to 5.9% in the September policy
RBI is likely to increase the repo rate by 50 basis points to 5.9% in the September policy

The inflation is ranging above the upper tolerance band of RBI for the 8th straight and Morgan Stanley to expects inflation to remain at 7.1-7.4 % in September as well, driven by increases in food prices as per the high-frequency food price trend.

Moreover, the reports said, they expect the trend to moderate but it remains above 6% until Jan-Feb 2023. The risks to the inflation outlook are going upside due to the uncertainty of the food inflation trajectory.

To track the policy,

  1. Changes to growth or inflation forecast
  2. Comments on the external balance sheet in the context of external risks.
  3. Overall tone of the policy statement and path on real rate normalization

The RBI has already reduced the repo rate by 140 basis points and surplus liquidity has fallen, now to $19.1 billion from $89 billion in Jan 2022. The normalization rates have been less stark with the real policy rates at -1.6% currently and -3.8% previously in April 2022. However, the external environment is still challenging with generally higher commodity prices compared to the pre-pandemic era. While domestic macro fundamentals are still strong, risks from continued elevated commodity prices need to be tracked.

Against this backdrop, they expect monetary policy normalization to continue pegging the terminal repo rate at 6.5% by Feb 2023.

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