An economy (from Greek οίκος – “household” and νέμoμαι – “manage”) is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. Understood in its broadest sense, ‘The economy is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources’. A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human practices and transactions. It does not stand alone.
Paytm recently said that the National Payments Corporation of India (NPCI) has allowed One97 Communications (OCL) to kick-start the migration of users to a new payment service provider (PSP) the bank handles. For this, four major banks — State Bank of India (SBI), Axis Bank, HDFC Bank, and YES Bank — will act as PSPs … Read more
The Employees’ Provident Fund Organisation (EPFO) has recently increased the existing eligibility limit of auto claim settlements under Paragraph 68J to Rs 1 lakh from Rs 50,000 before this. The Paragraph 68J allows an EPF contributor to apply for an advance for self and dependents’ medical expenses. EPFO members are permitted to seek an advance … Read more
Brokerage firm Bernstein maintained an outperform rating on Maruti Suzuki and HDFC Bank. Macquarie recommended an outperform rating on LTI MindTree and HSBC has a buy rating on ICICI Lombard. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Bernstein on Maruti Suzuki: Outperform| Target Rs 14,400 Bernstein … Read more
With cloud seeding, it may rain, but it doesn’t really pour or flood – at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said. Cloud seeding, although decades old, is still controversial in the weather community, mostly because it has been hard to prove that it does very much. No … Read more
With a mushrooming cyber trafficking industry, Cambodia has become the new cybercrime capital of Asia. Online scams have increased sharply across the globe in recent years, and many of them have originated from this Southeast Asian country in India’s extended neighbourhood, according to persons familiar with the dynamics of the region. Owing to its prolonged … Read more
The path towards sustainable government debt levels around the world is under threat this year from the sheer number of elections taking place, the IMF said Wednesday in a new report. “History suggests, and empirical evidence confirms, that governments tend to spend more and or tax less in election year,” Vitor Gaspar, the head of … Read more
In a surprising turn of events, a man who dedicated over three decades of his career to Microsoft found himself abruptly terminated from his position in February. Jeff Bogdan, who served as the Director of Learning and Development (L&D) at Microsoft Windows, took to LinkedIn to reflect on his “incredible” journey with the tech giant … Read more
Investing in mutual funds versus prepaying your home loan is a decision that hinges on various factors, primarily your financial goals, risk tolerance, and rate of returns and interest rates. Deciding between investing in mutual funds or prepaying your home loan depends on several circumstances. Here’s a tailored scenario for one to understand mutual funds … Read more
The Central Board of Direct Taxes (CBDT) has asked SROs or self-reporting organisations to file details of all high-value transactions that were carried out in 2022-23 by June 30. The SROs include organisations such as banks, post offices, co-operatives, fintechs and mutual fund houses. Any transaction over Rs 50 lakh, share sale and purchase of … Read more
Production at U.S. factories increased solidly in March as output at motor vehicle assembly plants and elsewhere rose, suggesting that manufacturing was turning the corner after being constrained by higher borrowing costs. Manufacturing output rose 0.5% last month after an upwardly revised 1.2% rebound in the prior month, the Federal Reserve said on Tuesday. Factory … Read more