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The <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> party has levied fresh allegations against <keyword id="20914154" type="General" weightage="100" keywordseo="SEBI-Chairperson" source="keywords">SEBI Chairperson</keyword> <keyword id="19922107" type="General" weightage="20" keywordseo="Madhabi-Puri-Buch" source="keywords">Madhabi Puri Buch</keyword>, calling her a perfect case of the office for profit. This refers to a position that brings some financial gain, or advantage to the office holder, which in this case was Buch's position as a whole-time member of <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, and then post 2022, as the regulatory body's chairperson. In a press conference in New Delhi on Monday, Pawan Khera, Chairman, Media and Publicity Department, Congress, charged Buch of receiving regular income from private lender <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and <keyword id="47860" type="General" weightage="20" keywordseo="ICICI-Prudential" source="Orion">ICICI Prudential</keyword>, India's second largest asset management company, all while being the whole-time member and later Chairperson of the capital markets regulatory body. "She (SEBI Chairperson Madhabi Puri Buch) between 2017 and 2024 was taking regular income of Rs 16 crore 80 lakhs from ICICI Bank," alleged Pawan Khera, at the press briefing. The congress spokesperson also alleged that Buch received a total of Rs 16.80 crore between 2017-18 to 2023-24, from ICICI Bank, ICICI Prudential, <keyword id="20043663" type="General" weightage="20" keywordseo="ESOPs" source="keywords">ESOPs</keyword>, and <keyword id="19948097" type="General" weightage="20" keywordseo="TDS" source="keywords">TDS</keyword> on ESOPs. According to the Congress' allegations, in 2017-18 the SEBI chief allegedly received Rs 2.06 crore from ICICI Bank as salary and Rs 7 lakh from ICICI Prudential. In 2018-19, she received Rs 4.71 crore from ICICI Bank, Rs 2.17 lakh from ICICI Prudential. In 2019-20, Rs 1.21 crore from ICICI Bank and Rs 2.17 lakh from ICICI Prudential. In 2020-21, she was alleged of having received Rs 4.64 crore from ICICI Bank and Rs 2.17 lakh ICICI Prudential. In 2021-22, Congress asserted that the salary stopped from ICICI Bank but she continued to receive Rs 2.17 lakh from ICICI Prudential, also same year she received ESOP and TDS on ESOP from ICICI Bank. In 2022-23, she was alleged to have received Rs 4.44 lakh from ICICI Prudential, in addition to ESOP and TDS on ESOP, In 2023-24, she was alleged to have received Rs 2.17 from ICICI Prudential. The Congress further alleges that during this period, Buch also drew a salary from SEBI as a whole-time member and later as the Chairperson. Khera further added that several probes on ICICI Bank were being adjudicated during this period when Madhabi Puri Buch was receiving income from the group. He also cited unnamed reports to claim that the SEBI chief has relaxed norms for the ICICI Bank. "The person sitting at the top of the regulator is taking salaries from another entity," Khera alleged, adding it was a perfect case of "office for profit". "So we want to know why you were taking your salary from ICICI despite being a full-time member of SEBI?," Khera asked what service she as the SEBI Chairperson provided the bank when she was part of SEBI. "This is a direct violation of Section 54 of SEBI. Therefore, if Madhabi Puri Buch has any shame, she should resign from her post," Khera added. The SEBI Chief is yet to react to the charges made by the Congress in Monday's news conference. Madhabi Puri Buch was a whole-time member of SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri Buch became the Chairperson of SEBI. Recently, US-based short seller Hindenburg Research made allegations against her accusing her of conflict of interest. Last month, Hindenburg Research alleged that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in "both the obscure offshore entities used in the Admoney siphoning scandal." Hindenburg Research said it has made the new allegations based on documents provided by a whistleblower and investigations carried out by other entities. Soon after, the SEBI Chairperson and her husband, in their personal capacity, issued a detailed statement rejecting the allegations. In the joint statement released to the media they said, "In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course." "It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same," the statement from Madhabi Buch and her husband Dhaval Buch read.

Congress alleges SEBI Chairperson Madhabi Puri Buch of office for profit

<ul><li><keyword id="19899647" type="General" weightage="100" keywordseo="iPhone-16" source="keywords">iPhone 16</keyword> can be delivered to your doorstep in under 10 minutes</li><li>The phone is available on Blinkit, <keyword id="19939136" type="General" weightage="20" keywordseo="BigBasket" source="keywords" meta.keywordsubtype="org" meta.entityname="BigBasket" meta.hostid="261" meta.entityid="BigBasket">BigBasket</keyword> and <keyword id="19939134" type="General" weightage="20" keywordseo="Zepto" source="keywords" meta.keywordsubtype="org" meta.entityname="Zepto" meta.hostid="261" meta.entityid="Zepto">Zepto</keyword></li><li>The iPhone 16 was made available for sale in India today</li></ul> Earlier this morning, <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> stores in Mumbai and Delhi witnessed huge lines of iPhone buyers, ready to get their hands on the next-gen models. Apple’s iPhone 16 series went for sale in India today and the excitement around the new phones is palpable. However, what if we tell you that you can order an iPhone within the comfort of your home? Blinkit is selling the iPhone 16 promising to deliver it to your doorstep in a few minutes. The phone is also being sold at BigBasket. However, it is to be noted that Blinkit and Big Basket are not selling the pro variants of the iPhone 16. If you are looking for the higher-end variants, you will have to either buy from a store or order it online. In India, the iPhone 16 is priced at ₹79,900, while the iPhone 16 Plus is available for ₹89,900. The <keyword id="20656465" type="General" weightage="20" keywordseo="iPhone-16-Pro" source="keywords">iPhone 16 Pro</keyword> starts at ₹1,19,900, and the iPhone 16 Pro Max is priced at ₹1,44,900. <div type="Article" hostid="261" msid="113214171" title="iPhone 16 Pro with A18 Pro chip launched: Should you upgrade if you own an iPhone 15 Pro?" mstype="2" mssubtype="0"></div> Let us take a look at where you can buy all variants of the iPhone 16 and what are the bank offers available. <h2>iPhone 16 available in under 10 minutes</h2>Blinkit is currently selling the iPhone 16 and iPhone 16 Plus models, though only the 128GB variant is available for purchase. The higher storage options are currently unavailable on Blinkit, and BigBasket. It's still unclear if the Pro models will be added to their listings in the coming week. In addition to Blinkit and Big Basket, the iPhone 16 is also available at Zepto. Blinkit and BigBasket, meanwhile, promise to deliver the phone in under 10 minutes. On the other hand, Zepto is promising to deliver the device in about 30 minutes. <h2>Customer orders iPhone 16 via BigBasket</h2> In a press release, BigBasket shared that a customer from Koramangala, Bengaluru had ordered an iPhone 16 at 8:00 AM and received the product in just seven minutes, at 8:07 am. The customer, upon receiving the product, said as per the press release, “I’ve always trusted bigbasket for my daily needs and groceries. However, I was pleasantly surprised to see that they are also delivering the new iPhone 16. What topped the excitement was getting the iPhone 16 within minutes of ordering! It’s a game-changer in quick delivery.” <h2>Bank offers on the iPhone 16</h2>Shoppers can enjoy savings of up to ₹5000 when purchasing an iPhone 16 using eligible credit cards from Kotak Mahindra, SBI, and ICICI Bank credit cards on Amazon. To make the purchase even more convenient, no-cost EMI options are available for 3 to 6 months through most major banks. Meanwhile, Vijay Sales is offering various deals to select card holders of ICICI bank, SBI, HDFC bank, Kotak Mahindra bank, YES Bank, IDFC FIRST Bank and Federal Bank. EMI options are also available on the website. <div type="Article" hostid="261" msid="113448967" title="You can get free Apple Airpods 4 and Apple Pencil with this limited-time deal in India, details here" mstype="2" mssubtype="0"></div> In addition to this, Apple is also offering its popular Trade-In program, which allows buyers to exchange their old devices for a discount. Depending on the condition and model of the device being traded in, customers can receive anywhere from ₹4000 to ₹67,500 off their new iPhone. In addition to these savings, those purchasing an iPhone 16 will receive a complimentary three-month subscription to Apple Music, Apple TV+, and Apple Arcade, adding even more value to their purchase. <h2>About the iPhone 16 lineup </h2> Apple has introduced some new features in the new iPhone 16 series, aiming to make both the standard and Pro models more advanced and user-friendly. The iPhone 16 and iPhone 16 Plus now boast a new Camera Control button, giving users quicker access to key functions. Both phones are powered by the upgraded Apple A18 chip and come with an improved dual-camera system that includes a new spatial capture feature for enhanced photography. Running on iOS 18 right out of the box, these models are set to receive further smart updates with upcoming software enhancements. The vanilla iPhone 16 features a 6.1-inch display, while the iPhone 16 Plus offers a larger 6.7-inch screen. Both displays are protected by Ceramic Shield technology and reach a peak brightness of 2,000 nits, though they continue to use 60Hz OLED panels. On the camera front, these models come with a 48MP main sensor capable of 2x zoom and a 12MP ultrawide camera that can now take macro shots. For selfies, a 12MP TrueDepth camera is included on both models. The iPhone 16 Pro and iPhone 16 Pro Max take things a step further, with bigger screens and narrower bezels. The Pro comes with a 6.3-inch display, while the Pro Max offers a 6.9-inch one. Both feature Retina XDR OLED screens with a smooth 120Hz refresh rate and up to 2,000 nits of brightness. Both phones are powered by the advanced A18 Pro chip and run on iOS 18. For photography enthusiasts, the Pro models pack a triple-lens setup, including a 48MP main camera, a new 48MP ultrawide lens, and a 12MP periscope camera offering 5x optical zoom. The front-facing camera remains a 12MP TrueDepth unit, and both Pro models now support 4K video recording at 120fps. Like the standard versions, they also come equipped with the new Camera Control button, making it easier than ever to snap photos and capture moments.

You can get the iPhone 16 in under 10 minutes while sitting at home, here is how

<ul><li>E-commerce giant Amazon has announced the Great Indian Festival sale 2024.</li><li>The sale will begin on September 27, and Prime users can access the deals a day ahead of regular users.</li><li>Here’s everything you need to know about the upcoming festive sale from Amazon.</li></ul>The festive season is almost here and with this, e-commerce giants are gearing up to begin their festive sales. Amazon has announced its Great Indian Festival Sale will start on September 27. Like always, Amazon Prime subscribers will be able to access the deals before normal users. If you wish to get early access and don’t have a Prime account yet, you can subscribe<a href="https://www.amazon.in/amazonprime?tag=tech_insider_india_buynowbluebutton-21"> here</a>. The company has announced several discounts, card offers, cashback and exchange offers for the sale. It has also lined up several new product launches during the sale. <h2>Bank offers</h2>Amazon has partnered with the State Bank of India to offer a 10% instant discount to SBI debit card and credit card users. So, if you are planning on purchasing something during the sale, we recommend you keep your cards ready. In addition to this, Prime users will get 5% unlimited cashback on shopping when they use their Amazon Pay ICICI bank credit card. <h2>Amazon Rufus assistant</h2>Rufus, the recently<a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rufus-ai-assistant-beta-launched-in-india-will-answer-customers-questions/articleshow/112872099.cms"> launched</a> AI conversational shopping assistant will answer customer’s questions regarding products during the sale. The assistant will answer your questions and help you find the ideal product for you by helping you easily compare various products. <h2><keyword id="20672181" type="General" weightage="20" keywordseo="Amazon-Bazaar" source="keywords">Amazon Bazaar</keyword></h2>Amazon has also introduced a new store, dubbed “Amazon Bazaar”. This is a new store on Amazon, which is claimed to offer affordable fashion and home products. <h2>New launches across categories</h2>Amazon has announced that several products will be launched during the sale, including smartphones, laptops, TVs, audio devices, apparel, grooming devices, kitchen appliances and more. <h2>Discounts across a wide range of products</h2>Amazon has already started teasing the major products that will be available at a discount during the sale. The company has started teasing that the flagship Galaxy S23 Ultra will be available under INR 1 lakh. Apart from this, popular laptops from Dell, HP and other major companies will also be available at a discounted price. Customers will be able to buy smartphones starting as low as INR 5,999 with up to 24 months no cost EMI option. Those looking for products for their home will have a lot of options to choose from. Home and decor items will be available starting at ₹79, cookware at ₹99 and kitchen appliances at ₹79. Amazon devices such as Kindle, Alexa smart speakers and Fire TV devices will be available with a discount of up to 50% during the sale. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/triumph-speed-t4-launched-in-india-with-a-price-tag-of-2-17-lakh/slidelist/113429766.cms">Triumph Speed T4 launched in India with a price tag of ₹2.17 lakh</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-neo-vs-nothing-phone-2a-which-phone-should-you-buy-under-25000/slidelist/113417314.cms">Motorola Edge 50 Neo vs Nothing Phone (2a) – Which phone should you buy under ₹25,000?</a> <a href="https://www.businessinsider.in/tech/mobile/news/ios-18-update-to-start-rolling-out-today-eligible-devices-features-and-more/articleshow/113413108.cms">iOS 18 update starts rolling out – eligible devices, features and more</a>

Amazon Great Indian Festival sale to begin on September 27

With the first day of Navratri today (October 3), the festive season in India has officially begun. Each year, various platforms offer intriguing offers around this time and this year is no different. Apple also has some special offers in store for its Indian fans and has kick-started its Diwali 2024 sale today. If you have been thinking to buy the new iPhone or wish to get your hands on the latest <keyword id="19900628" type="General" weightage="20" keywordseo="macbook" source="keywords">MacBook</keyword>, now might be the time. There are a lot of options to choose from and you can enjoy savings across Apple's premium product lineup. Among the key highlights is an instant cashback of up to ₹10,000, available on a wide range of Apple products. For those with American Express, Axis Bank, or ICICI Bank cards, this cashback can be availed instantly at checkout. Furthermore, customers can spread their payments with up to 12 months of No Cost EMI, making the purchase of Apple’s high-end devices even more manageable. <h2>iPhone Deals </h2> The iPhone range is one of the sale’s main attractions. Customers opting for the iPhone 16 Pro or iPhone 16 Pro Max can enjoy an instant cashback of ₹5,000. Similarly, those choosing the iPhone 16 or the iPhone 16 Plus will benefit from the same ₹5,000 discount. For individuals looking for a slightly more affordable option, the iPhone 14 and iPhone 14 Plus come with ₹3,000 cashback, while the iPhone SE offers ₹2,000 off. <h2>MacBook and Mac Discounts </h2> Apple’s MacBook line-up also sees attractive discounts. The latest MacBook Air models, featuring the M3 chip in both 13-inch and 15-inch versions, are available with a cashback of ₹10,000. If you’re looking at the earlier MacBook Air (M2 chip), you can save ₹8,000 instantly. Larger purchases such as the MacBook Pro (14-inch and 16-inch), the Mac Studio, and the iMac 24-inch all come with an appealing ₹10,000 cashback. Meanwhile, the Mac mini is available with a ₹4,000 discount. <h2>iPad Offers </h2> For tablet users, Apple’s iPad range also includes some enticing offers. The iPad Pro, available in 11-inch and 13-inch sizes, provides a cashback of ₹6,000. The iPad Air, also available in 11-inch and 13-inch sizes, offers a ₹4,000 instant discount. Buyers of the standard iPad can benefit from ₹2,500 cashback, while the compact iPad mini is on offer with ₹3,000 cashback. <h2>AirPods Promotions </h2> Fans of Apple’s audio products are not left out, as the AirPods range sees notable discounts too. The AirPods Pro are available with ₹2,000 cashback, while the AirPods 4 offer ₹1,500 off. For those opting for the AirPods 4 with Active Noise Cancellation, there’s a ₹1,500 instant discount. Meanwhile, Apple’s premium AirPods Max headphones are being sold with a significant ₹4,000 cashback. <h2>Free Beats Solo Buds </h2> Apart from cashback, Apple is also giving away Beats Solo Buds for free. If you purchase an iPhone 15 from an Apple store, you can get your hands on the buds at no cost. However, this offer is only valid till tomorrow (October 4) so you better hurry. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">More savings with Apple's trade-in programme </h2> Adding to the appeal, Apple’s Trade-In programme allows users to exchange their old devices for a discount on their new purchases. This, coupled with the cashback, makes for a compelling offer for those planning an upgrade. Additionally, with select purchases, Apple is providing three months of Apple Music, Apple TV+, and Apple Arcade subscriptions at no extra cost. With these offers, Apple’s Diwali Sale 2024 provides an excellent chance for customers to grab their desired devices at a lower price point. Whether you're upgrading or looking for gifts, this limited-time sale brings significant value, especially with the combined benefits of cashback, EMI options, and trade-in deals. For more information, you can head to Apple’s official website.

Apple Diwali sale in India goes live: iPhones, Macbooks and Airpods get discounts

<ul class="summary-list"><li>Berkshire Hathaway reduced its Apple stake again in the third quarter of 2024.</li><li>Warren Buffett's company has now cut its shares in Apple by two-thirds over the last year.</li></ul><a target="_blank" href="https://www.businessinsider.com/i-work-with-warren-buffett-berkshire-hathaway-borsheims-ceo-2024-9">Warren Buffett's</a> Berkshire Hathaway has cut its stake in Apple — again.<a target="_blank" href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-website-homepage-culture-values-billionaires-links-2024-10">Berkshire Hathaway</a> reduced its holdings in the iPhone maker to just under $70 billion, according to its third-quarter earnings report, which was published Saturday.The Omaha-based holdings company has been slowly cutting its shares in Apple since 2023. It had about $174.3 billion invested in the company at the end of 2023 — which means it has cut its stake by about two-thirds over the past year.Berkshire Hathaway has consistently sold shares and grown its stockpile of cash over the last year. Buffett also <a target="_blank" class="" href="https://www.businessinsider.com/warren-buffett-bank-of-america-stock-sales-apple-portfolio-berkshire-2024-10">sold about $10 billion of his Bank of America</a> holdings, another one of his biggest stakes, earlier this year. The company is now sitting on over $325 billion and did not report any buybacks in quarter three of 2024.Berkshire Hathaway has not said why it is selling off shares of <a target="_blank" href="https://www.businessinsider.com/history-of-apple-in-photos-2015-8">Apple</a>. At a Berkshire annual meeting in May, Buffett hinted that he was selling shares for tax reasons, anticipating that the US government could raise the tax on capital gains, which is profit earned on the sale of an asset, <a target="_blank" href="https://www.cnbc.com/2024/11/02/berkshire-hathaway-brk-earnings-q3-2024.html">CNBC reported</a>.

Warren Buffett's Berkshire Hathaway has reduced its big stake in Apple by two-thirds in the last year

New Delhi, <keyword id="20389260" type="General" weightage="20" keywordseo="Aadhar-Housing-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Aadhar Housing Finance" meta.hostid="282" meta.entityid="Aadhar Housing Finance">Aadhar Housing Finance</keyword> Ltd, which is backed by private equity major Blackstone, on Thursday said it has fixed a price band of Rs 300 to Rs 315 a share for its Rs 3,000-crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword>. The initial share sale will be open for public subscription during May 8-10 and the bidding for anchor investors will open for a day on May 7, the company said in a statement. This will be the third maiden public issue opening next week after TBO Tek and Indegene. Aadhar Housing Finance's initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) is a combination of a fresh issue of <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth Rs 1,000 crore and an offer for sale (OFS) of Rs 2,000 crore by promoter BCP Topco VII Pte Ltd, an affiliate of Blackstone Group Inc. Currently, BCP Topco holds a 98.72 per cent stake in Aadhar Housing Finance and <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="282" meta.entityid="ICICI Bank">ICICI Bank</keyword> owns a 1.18 per cent stake. The company plans to utilise Rs 750 crore of the fresh issue proceeds to meet future capital requirements towards onward lending and a portion will also be used for general corporate purposes. "The listing is a significant milestone for Aadhar Housing Finance and its transformation is a great example of what we do best: building businesses that build India. We brought our scale, network, and best global practices to grow the business, and empowered the company in digitising its processes, end-to-end from origination to collection," Amit Dixit, Head of Private Equity Asia at Blackstone, said. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Earlier this month, Aadhar Housing Finance received Sebi's go-ahead to float the IPO. Aadhar Housing Finance offers a range of mortgage-related loan products, including loans for residential property purchase and construction; home improvement and extension loans; and loans for commercial property construction and acquisition. The company is an HFC focused on the low-income housing segment, serving economically weaker and low-to-middle-income customers, who require small-ticket mortgage loans. It has a network of 471 branches, including 91 sales offices, as of September 30, 2023. The company benefits from the resources, relationships and expertise of Blackstone, one of the world's leading investment firms. ICICI Securities, Citigroup Global Markets India Pvt Ltd, Kotak Mahindra Capital Company Ltd, Nomura Financial Advisory and Securities (India) Pvt Ltd and SBI Capital Markets are the book-running lead managers to the issue. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-v30e-with-5500mah-battery-launched-in-india-starting-at-27999/articleshow/109781103.cms" target="_blank">Vivo V30e with 5,500mAh battery launched in India starting at ₹27,999</a>

Aadhar Housing Finance sets IPO price band at ₹300-315 per share

<keyword id="20270096" type="General" weightage="20" keywordseo="Equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> pared all early gains and were trading lower in mid-session trade on Monday, with the <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> plunging 215.18 points while <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> declined to crack below the 25,000-mark amid profit-taking and decline in the shares of blue-chip <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>. The BSE Sensex dropped 215.18% to 81,473.27 in the afternoon trade after soaring 449.32 points earlier in the day. From its intra-day high of 82,137.77, the benchmark tanked 548.83 points to 81,139.62. The NSE Nifty also slumped 191.65 points to 24,822.95. The benchmark hit an intra-day high of 25,143 in the early trade and a low of 24,798.65. From the Sensex basket, NTPC, Adani Ports &amp; Special Economic Zones, PowerGrid, Titan, JSW Steel, Axis Bank and State Bank of India were among the major laggards. However, ITC, Bharti Airtel, Infosys, ICICI Bank and Bajaj Finance were trading in the green territory. In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul were settled on a higher note on Monday. Wall Street ended with gains on Friday. Global oil benchmark Brent crude fell 0.14% to USD 77.94 a barrel. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) offloaded equities worth Rs 9,896.95 crore on Friday, while <keyword id="20234284" type="General" weightage="20" keywordseo="Domestic-Institutional-Investors" source="keywords">Domestic Institutional Investors</keyword> (DIIs) bought equities worth Rs 8,905.08 crore, according to exchange data. On Friday, the BSE Sensex tumbled 808.65 points to settle at a three-week low of 81,688.45, while NSE Nifty slumped 235.50 points to 25,014.60. Last week, the BSE Sensex tanked 3,883.4 points, or 4.53%, and the Nifty slumped 1,164.35 points or 4.44%. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a><a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms" target="_blank">Airtel is using AI-powered technology to block spam calls and messages</a>

Sensex, Nifty pare early gains, trade lower in the afternoon trade

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Shares of <keyword id="19950119" type="General" weightage="20" keywordseo="tata-consultancy-services" source="keywords">Tata Consultancy Services</keyword> (TCS) plunged more than 3 per cent in the morning trade on Tuesday as its promoter <keyword id="19991117" type="General" weightage="20" keywordseo="tata-sons" source="keywords">Tata Sons</keyword> sold around 2.3 crore shares, or 0.65 per cent of equity stake, in the IT services major through block deals. TCS shares tumbled 3.30 per cent to a low of Rs 4,015.65 apiece on the NSE. On the BSE, the stock plunged 3.15 per cent to Rs 4,014 per piece, emerging a major drag on the benchmark Sensex. According to exchange data, more than 2.53 crore shares traded on the BSE in morning deals against the two-week average of around 1 lakh. Market experts said the decline in TCS share price is mainly due to the Tata Sons stake sale. Following the fall in TCS share value, the market valuation of India's leading software company eroded Rs 45,497.45 crore to Rs 14,54,109.37 crore on the BSE. The block deal initiated by Tata Sons was aimed to offload up to 2.34 crore shares of TCS at a floor price of Rs 4,001 per share. This floor price represented a 3.65 per cent discount from the previous day's closing price. The deal is estimated to be valued around Rs 9,000 crore. The buyer and seller's official confirmation, however, will be made public later in the evening when the stock exchanges release the data. As of December 2023, promoters and promoter group entities hold a 72.41 per cent stake in TCS, of which 72.38 per cent shareholding is owned by Tata Sons. The 30-share BSE Sensex benchmark nosedived 622.03 points, or 0.86 per cent, to 72,126.39, while the broader Nifty slumped 209.40, or 0.95 per cent, to 21,846.30. The stock was the biggest laggard on the BSE index. On Monday, TCS's shares settled nearly 2 per cent lower amid reports that its promoter Tata Sons is likely to sell a minority stake in the IT major. <keyword id="19924335" type="General" weightage="20" keywordseo="tata-group" source="keywords">Tata Group</keyword>'s stocks have been in the spotlight after a report from <keyword id="20856835" type="General" weightage="20" keywordseo="spark-capital" source="keywords">Spark Capital</keyword> in March mentioned that Tata Sons might go public by September 2025 to meet the Reserve Bank of India's (RBI) scale-based regulations. The RBI mandates that upper-layer <keyword id="21002582" type="General" weightage="20" keywordseo="non-banking-financial-companies" source="keywords">Non Banking Financial Companies</keyword> (NBFCs) are required to list on the stock exchanges within three years. Tata Sons has been named among 15 upper-layer NBFCs, with a total market valuation of Rs 31.6 lakh crore, Tata Sons is the owner of 29 publicly-listed Tata Group entities.

TCS shares tank over 3% after Tata Sons divests 0.65% stake

<ul><li><keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> is all set to host the <keyword id="22268743" type="General" weightage="20" keywordseo="Prime-Day-sale" source="keywords">Prime Day sale</keyword> 2024 in India on July 20 and July 21.</li><li>The two-day event is the biggest sale the e-commerce giant hosts each year.</li><li>The sale will be available exclusively for Amazon Prime members.</li></ul>Amazon’s most awaited Prime Day sale 2024 is just around the corner. The e-commerce giant is all set to host the eighth Prime Day sale in India on July 20 and 21 in the country. For those unaware, Prime Day is the biggest sale the e-commerce giant hosts each year and the sale lasts for just two days. As part of the sale, users can avail huge discounts and cashback across a wide range of products. <h2>Exclusive access to Prime members</h2>Usually, Prime users get an advantage over other users during sales on Amazon as they can access deals a day earlier than normal users. The Prime Days sale goes a step ahead and is exclusively available for Prime users on both days. So, if you are thinking about purchasing something from the upcoming sale and are not a Prime member, you need to subscribe to Amazon Prime from<a href="https://www.amazon.in/amazonprime?tag=tech_insider_india_buynowbluebutton-21"> here</a>. <h2>Card offers to look out for</h2>Amazon has partnered with banks to offer additional discounts to their cardholders. During the Prime Day sale, ICICI Bank debit and credit card users and SBI credit card users will be able to avail of a 10% instant discount on their purchases. <h2>New launches</h2>Amazon has announced that thousands of new products will be launched from over 450 Indian and global brands including Intel, Dell, Samsung, LG, Puma, Titan and more. <div type="Article" hostid="261" msid="111830855" title="Honor 200 and Honor 200 Pro launched in India starting at ₹34,999" mstype="2" mssubtype="0"></div> There will also be a lot of launches from several small and medium enterprises. across categories including home and kitchen, fashion, grooming, jewellery, handmade products and more. <h2>Deals on mobiles, tech, appliances, fashion and more</h2>If you are in the market for smartphones, laptops, a new TV for your home, new clothes, or other essentials, you will be able to get them at a discounted price during the Prime Days sale. In addition to this, Amazon’s smart products such as the Echo smart speakers, Fire TV Stick and Alexa smart home combos will be available with a discount of up to 55%. Over the next few days, Business Insider India will bring you some of the best deals you can avail yourself during Prime Day 2024 across various segments. <h2>Prime Video offers</h2>Prime Day 2024 also brings up to 50% discount when purchasing add-on subscriptions of other popular video streaming services on Prime Video Channels including MGM+, Lionsgate Play, discovery+, Sony Pictures Stream, Hoichoi, ManoramaMAX, Mubi, and VROTT, among others. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/honor-200-and-honor-200-pro-launched-in-india-starting-at-34999/articleshow/111830855.cms">Honor 200 and Honor 200 Pro launched in India starting at ₹34,999</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-expectations-fame-scheme-aid-for-vehicle-scrapping-and-other-expectations-of-the-auto-industry/articleshow/111783199.cms">Budget 2024 Expectations: FAME scheme, aid for vehicle scrapping and other expectations of the auto industry</a>

Amazon Prime Day 2024 to begin on July 20 in India – everything you need to know about Amazon’s biggest sale

<ul class="summary-list"><li>The Federal Reserve will make its next interest rate decision at the end of July.</li><li>Some economists said the economy is ready for the Fed to cut interest rates.</li></ul>After years of high interest rates to combat soaring inflation, some economists think the time has finally come for the nation's central bank to give Americans financial relief by cutting those rates.Lower rates would allow Americans to take out cheaper loans, helping out businesses and consumers.Mark Zandi, chief economist at Moody's Analytics, said that when cuts do come, he expects them to "provide immediate relief" to small businesses, consumers, and lower- and middle-income households. Business owners may find it easier to take out bank loans and consumers who rely on credit cards could end up with cheaper borrowing costs.But those cuts may not be here just yet. At the end of July, the Federal Open Market Committee will announce its <a target="_blank" class="" href="https://www.businessinsider.com/fed-interest-rate-cuts-should-happen-in-july-not-september-2024-7">next decision on interest rates</a>. <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a>, which estimates interest rate probabilities based on market trades, forecasts a 93% chance the Fed will hold rates steady — and Fed Chair Jerome Powell has emphasized that the Committee needs to feel confident inflation is cooling enough before the Fed starts to cut.It's a delicate balancing act between risking a recession and renewed price spikes. "If we loosen policy too late or too little, we could hurt economic activity," Powell <a target="_blank" href="https://www.youtube.com/watch?v=vv6n0oTJMRU">said</a> before the Senate Committee on Banking, Housing, and Urban Affairs on July 9. "If we loosen policy too much or too soon, then we could undermine the progress on inflation."But many long-time Fed watchers and macroeconomists think the war on inflation has been won, and it's time to cut.Zandi thinks the Fed has "achieved their objective of full employment and inflation at target."Claudia Sahm, founder of Sahm Consulting and former Fed economist, agrees. "Frankly, it's been time for a while," Sahm told Business Insider. "We have seen the US economy has been getting back on track, normalizing, rebalancing, all of the Fed's catchwords for some time now."The consumer price index, which measures inflation, <a target="_blank" href="https://www.businessinsider.com/inflation-cpi-june-prices-food-energy-fed-interest-rate-cuts-2024-7">rose 3.0%</a> year over year in June — a decrease from May's 3.3% reading — showing that inflation is inching toward the Fed's 2% target. Real US GDP has already been growing at a cooler rate. It increased 1.4% at an annualized rate in the first quarter of 2024 after a 3.4% increase in the fourth quarter of 2023. The <a target="_blank" class="" href="https://www.businessinsider.com/unemployment-rate-job-growth-june-economic-data-2024-7">labor market</a> has seen the unemployment rate climb to above 4%, and job gains have cooled, though the <a target="_blank" class="" href="https://www.businessinsider.com/what-is-going-on-with-economy-recession-unemployment-inflation-gdp-2024-5">US remains far from a recession</a>.As Powell has consistently said, cutting interest rates too early could end up hurting Americans if it requires the Fed to hike again at a later time. But keeping interest rates high for too long also has consequences — it's keeping <a target="_blank" href="https://www.businessinsider.com/how-do-interest-rate-hikes-impact-housing-market-rent-mortgages-2024-3">housing costs high</a>, businesses are struggling to invest, and Americans are finding it more expensive to take out loans and different forms of credit.While economists who talked to BI described the current economy as good, they also noted that cutting interest rates could give Americans financial relief and help the economy thrive."Right now, the Federal Reserve with keeping interest rates high is putting pressure on the economy, is making it harder for consumers to buy," Sahm said. "They have to take out credit. It's making it harder for businesses to invest."<h2 id="fa2a601e-28f1-43b0-846d-f43eee7bd384">Why economists say it's time to cut interest rates</h2>For months, some Democratic lawmakers have been urging Powell to cut interest rates sooner rather than later to give Americans financial relief. Sen. Elizabeth Warren joined three of her Democratic colleagues in <a target="_blank" href="https://www.businessinsider.com/when-will-fed-cut-interest-rates-elizabeth-warren-powell-rent-2024-1">writing a letter</a> in January to Powell saying that "interest rates are still too high for many American families, who already cannot afford to pay rent or buy their first homes."Some economists have recently been pointing to similar concerns with the Fed keeping interest rates high. "We got inflation under control, but we could end up in a recession, or we could just end up in a much weaker economy than was necessary because it just waited too long," Sahm said.As Sahm pointed out, it would take time for reduced interest rates to "flow through to the economy.""You want to begin a process of taking the pressure off of the economy," Sahm said. "The best way to do this would be gradually."Waiting longer to start this gradual process of cuts could mean being up against unwelcome scenarios, such as the labor market taking "a turn for the worst," Sahm said. In that case, that could mean the Fed may have to make cuts more quickly.Brian Rose, senior US economist at UBS, told BI that if the Fed doesn't cut rates soon, there could be a "more serious slowdown in the labor market, undesirable rise in the unemployment rate, or more layoffs, and things like that.""The economy seems like it's already growing below trend, and if you leave rates at this level, which is quite restrictive, you can only expect the economy to slow further," Rose said.True to form, Powell has not given any indication as to when interest rate cuts might happen, but when they do, it could provide relief to businesses and consumers alike.Zandi said interest rates on credit cards and Buy Now, Pay Later rates could come down, along with a decline in auto lending rates and mortgage rates."Right now, we're at a 7% fixed mortgage rate, and that's just unaffordable for almost everyone," he said. "But if it gets closer to six, then I think that would make a big difference for people. And we see more home sales and transactions."Even Fed officials are pointing at recent economic data as proof relief will soon be warranted. Chicago Federal Reserve President Austan Goolsbee <a target="_blank" href="https://www.wsj.com/livecoverage/stock-market-today-bank-earnings-07-15-2024/card/interest-rate-cuts-will-soon-be-warranted-chicago-fed-s-goolsbee-says-MnwqFjEttmPMZIf9OvTc">told</a> The Wall Street Journal that the US economy has proven it's ready to ease up on tight monetary policy."You only want to stay this restrictive for as long as you have to, and this doesn't look like an overheating economy to me," Goolsbee said.

Lower interest rates could be coming soon. Here's what's at stake if they aren't.

<ul><li>Rising inflation has dampened overall credit card spends in August, but experts say they will bounce back in September thanks to festival sales.</li><li>Overall, Indians spent over ₹1 lakh crore for the sixth consecutive month, and the average dues have continued to rise.</li><li>Indians also spent three times as much using credit cards versus debit cards while buying things on e-commerce websites.</li></ul>Credit card users have spent over ₹1 lakh crore now for the sixth consecutive month. In August, credit card users spent ₹1.13 lakh crore in August, down from ₹1.17 lakh crore in July. This is despite a decline of 2 million in terms of active credit cards in August – the fall is due to RBI’s new guidelines. Trends suggest that people will continue to swipe more credit cards and their spending will hit the ₹1.2 lakh crore mark in September. The spends in September are expected to be buoyed by festive sales across e-commerce and offline retail platforms, after ecommerce spends fell in August. “Upcoming e-com festive sales (Big Billion day and Great Indian Festival) are likely to revive the e-com mix (% of total spends) back to Apr-Jul '22 levels,” said a report by <keyword id="46909" type="General" weightage="80" keywordseo="icici-securities" source="Orion">ICICI Securities</keyword>. A rise in prices and Indians’ love for travel has set the perfect tone for an increase in overall credit card outstandings. “Revival in air travel, hospitality sector as well as increasing inflation outlook set a positive backdrop to credit card spend as well as receivables,” the report added. Indians being tired of not going out anywhere for two years due to the Covid-19 pandemic has helped boost demand in the hospitality sector, according to a report by ratings agency CARE. “FY22 has been a promising year for the sector wherein the revival in the occupancy and RevPAR has led to green shoots for the industry players. The decline in Covid cases, resumption of international flights from March 2022, and strong leisure and wedding demand are the positive factors that should lead to growth in occupancy and ARRs in FY23,” the CARE report said. Dues per card continued their upward trajectory, too. “Receivables, in terms of CC outstanding per CIF at industry level, have trended from ₹18,000 as of December 2021 to ₹20,100 for January to May 2022 and increased to ₹20,300 in July 2022,” the ICICI Securities report added. <cmsannotation type="cmsannotation" annotationid="Here’s a snapshot of the Indian credit card industry" comment="subhead" text="Here’s a snapshot of the Indian credit card industry">Here’s a snapshot of the Indian credit card industry</cmsannotation> <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> continues to lead the market in total credit cards and spends. <div type="image" title="Credit Card market share August 2022." msid="94537974" hostid="261" caption="&amp;lt;p&amp;gt;Credit card market share August 2022&amp;lt;/p&amp;gt;"></div> However, SBI Card is closing the gap in terms of credit cards in force. <div type="image" title="Credit cards in force trend Jan-Aug 2022." msid="94537984" hostid="261" caption="&amp;lt;p&amp;gt;Credit cards in force&amp;lt;/p&amp;gt;"></div> Despite accounting for only 21% of the total credit cards in use, HDFC Bank users spent 29% of the total money. <div type="image" title="Credit card spends market share August 2022." msid="94537997" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends market share August 2022&amp;lt;/p&amp;gt;"></div> As far as spends are concerned, HDFC Bank continues to go from strength to strength. <div type="image" title="Credit card spends per card trend Jan-Aug 2022." msid="94538006" hostid="261" caption="&amp;lt;p&amp;gt;Credit card spends per card trend&amp;lt;/p&amp;gt;"></div> However, HDFC Bank credit card users aren’t the most lavish spenders – and two unassuming names are in a tug of war when it comes to this. <a href="https://www.businessinsider.in/finance/banks/news/indusind-bank-has-most-valuable-credit-cardholders-in-india-compared-to-hdfc-sbi-citi/articleshow/91784122.cms">IndusInd Bank was once the leader in this metric</a> – it was<a href="https://www.businessinsider.in/finance/banks/news/indians-love-for-travel-is-so-strong-that-its-boosting-credit-card-spends/articleshow/93859780.cms"> dethroned by Bank of Baroda in July</a> – and now it has won back its throne again. <div type="image" title="Credit card value per card August 2022." msid="94538034" hostid="261" caption="&amp;lt;p&amp;gt;Credit card value per card&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-greens-54-rally-tempts-totalenergies-to-book-profits/articleshow/94529227.cms">Adani Green’s 54% rally this year tempts TotalEnergies to book profits</a> <a href="https://www.businessinsider.in/retail/news/jewellery-chains-are-growing-at-the-cost-of-standalone-jewellers-and-its-only-going-to-get-worse-says-world-gold-council-report/articleshow/94510142.cms">Jewellery chains are growing at the cost of standalone jewellers – and it’s only going to get worse, says World Gold Council report</a> <a href="https://www.businessinsider.in/business/telecom/news/amid-concerns-of-jio-airtel-duopoly-analysts-suggest-new-telecom-bill-empowers-govt-to-maintain-competition/articleshow/94502923.cms">Amid concerns of Jio-Airtel duopoly, analysts suggest new telecom bill empowers govt to maintain competition</a>

You Searched For "icici bank stake sale" and got 11 results

Congress alleges SEBI Chairperson Madhabi Puri Buch of office for profit

ANI

You can get the iPhone 16 in under 10 minutes while sitting at home, here is how

Divyanshi Sharma

Amazon Great Indian Festival sale to begin on September 27

Sourabh Jain

Apple Diwali sale in India goes live: iPhones, Macbooks and Airpods get discounts

Divyanshi Sharma

Warren Buffett's Berkshire Hathaway has reduced its big stake in Apple by two-thirds in the last year

Lakshmi Varanasi

Aadhar Housing Finance sets IPO price band at ₹300-315 per share

PTI

Sensex, Nifty pare early gains, trade lower in the afternoon trade

PTI

TCS shares tank over 3% after Tata Sons divests 0.65% stake

PTI

Amazon Prime Day 2024 to begin on July 20 in India – everything you need to know about Amazon’s biggest sale

Sourabh Jain

Lower interest rates could be coming soon. Here's what's at stake if they aren't.

Madison Hoff,Ayelet Sheffey

E-commerce sales likely to drive credit card spends in September even as active cards decline

Rounak Jain

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