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Today's Top-10 Business Events in One Minute (20-09-2023)


1. Household Savings hit Decadal Lows


Net Financial Assets of Households have been declining consistently from 11.5% of GDP in FY 21 to 5.1% during the Financial Year.


NFA= Financial Assets (-) Financial Liabilities


In FY 2022-23, Financial Assets Grows by 14%, however liabilities grow by whopping 76%.


Growth in Retail Credits as pushed by Banks/NBFCs may also be one of the reason.


2. Government may Buy Tomatoes to Help Farmers as Prices Fall


Crash in Tomatoes Prices in some part of the Country has prompted the Government to use Price Stability Fund to procure the Tomatoes to help the Farmers. Government will lift the stock from the market flooded with the Tomatoes and sale them in nearby where prices are still remunerative.


Prices of Tomatoes in some market has plunged to the level of Rs. 3 to 10/kg.


3. There should be Minimum Age Limit to use Social Media: HC


The High Court of Karnataka on Tuesday observed that it would be suitable if an age limit were introduced for using social media like the legal age for drinking.


4. Govt. Planning PLI Scheme for Wearables


To boost production in India by both Domestic and Global Companies, Government is planning to bring PLI Scheme for wearable including hearing devices.


You know, Indian Brands like Noise, Fire-Boltt, Boat etc. have 75% of market share of wearables.

At present around 55% are made in India.


5. Global Debt at Record $ 307 tn, Debt to GDP ratio hits 336%


Global Debt has risen in first half of current year by $ 10tn.


More than 80% of Debt build up comes from Developed Countries.


Among Emerging Countries, biggest rises comes from larger Countries including China, Brazil and India.


Higher interest rates at present will further increase Debt of Countries.


6. Focus on Co-op Loan Disbursals


Finance Minister has asked the Department of Financial Services to look into the discrepancies between the sanctioning and disbursals of loans by co-operative banks.


7. Kisan Rin Portal


Kisan Rin portal has been launched by the Finance Minister.


It is a digital portal offering a comprehensive view of farmer data, loan disbursement specifics, interest subvention claims, and scheme utilization progress, fostering seamless integration with Banks for more focused and efficient agriculture credit.


8. Musk Floats Charging all Twitter users


Musk has reasoned that small monthly payment for use of X system is the only way to combat armies of Bot.


9. Electric Bus Tenders Get a Lift with 4100 Crore Payment Fund


The Government is ready to offer a payment security mechanism to vehicles manufacturer who bid for its tenders for electric buses.


Under the mechanism manufacturers (own and operate model) will be assured of payment by State Transport units, in case they defaults, payment will be provided from the Fund.


It will promote Green Mobility in India.


10. Market News


Sensex closed at 66800 (20-09-2023) down by 796 points (1.18%) as compared to 19.09.2023.




Please connect with us @Linkedinfor regular updates.



Disclaimer: We have used multiple sources including News Papers (mainly Live Mint, Economic Times etc.) and Online media & original Sources to compile the above information purely for academic purpose for consumption by students. It should not be considered as professional advice or consultancy to be relied upon. Further, Fab Gyan and its Team will not be responsible for any mistake.

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