Indian shares muted ahead of interim Union budget; Paytm tanks
The Hindu
Budget 2024: Indian shares remain muted as investors await interim budget in early morning trade, while Paytm shares plummet after RBI restrictions
Indian shares were muted on Thursday, February 1, 2024, as investors awaited the interim Union budget, while Paytm shares tanked after the Reserve Bank restricted its unit from accepting fresh deposits and credit transactions.
The NSE Nifty 50 index was mostly unchanged at 21,737, as of 9:16 a.m IST, and the S&P BSE Sensex was up 0.1% to 71,817.
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Shares of fintech firm Paytm tanked 20% after the Reserve Bank of India restricted Paytm Payments Bank from fresh deposits and credit transactions across its services due to supervisory concerns.
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The Thane police have arrested two co-founders of cryptocurrency exchange platform CoinDCX in connection with an alleged fraud of Rs 71.6 lakh, officials said
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Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.
Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
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Mines Ministry to auction 19 critical mineral blocks on March 23, expanding strategic resources for clean energy and technology sectors.