TOP News on 29-05-2021
We bring the top business and financial news for the day which is useful to know the current business and financial markets and keep you updated.
Bicycle demand grows🚴
The bicycle Industry in India sees a high growth of 20% due to Covid,
As people need bicycles for fitness and leisure requirements there is a huge demand.
Fact: India is the second largest manufacturers of cycles globally.
India’s Forex lifetime high 💰
India’s foreign exchange reserves got raised up by $2.865 billion to set a record high of $59.894 billion for the week ended May 2021.
Earlier the highest was $590.185 billion for the week ended January 29, 2021.
A good foreign exchange reserve will help India during financial crisis.
Paytm Payments Bank Visa Cards coming soon 💳
Paytm Payments Bank Limited [PPBL] has announced it is planning to issue physical Visa Card soon.
They have set a target or 10 lakh physical visa cards by the end of FY21.
They have already issued over 45 lakh virtual visa debit cards.
DubaiCoin = Fake 🤑
The Dubai government has clarified that they have not approved any cryptocurrency as their official.
The site promoting Dubaicoin as official cryptocurrency of Dubai is a phishing campaign to steal personal data from the visitors.
Whatever the situation always checks its reliability before giving your details.
Tata acquired Big Basket 🥦🥬🥕
Tata group has acquired 64.3% stake in online grocery platform BigBasket.
The Competition Commission of India approved its proposal to buy the stakes.
Tata increased the capital by $200 million and now the value of BigBasket is $2 billion.