Business News at 05:30 pm on 28th March, 2024

Let’s begin – Google has unveiled its 2023 Ads Safety Report, to share the progress made by the company in enforcing its advertiser and publisher policies to ensure accountability for ‘maintaining a healthy ad-supported internet.’ “The key trend in 2023 was the impact of generative AI. This new technology introduced significant and exciting changes to the digital advertising industry, from performance optimization to image editing. Of course, generative AI also presents new challenges. We take these challenges seriously and will outline the work we are doing to address them head-on. Generative AI presents a unique opportunity to improve our enforcement efforts significantly. Our teams are embracing this transformative technology, specifically Large Language Models,” the report quoted.
“Moving on – IndiGo’s stock price surged by over 1% on Thursday, reaching a 52-week high, driven by a target price upgrade from foreign brokerage firm UBS. Domestic brokerage firm Prabhudas Lilladher also maintained a buy rating on IndiGo. The shares of IndiGo rallied by 9.19% in the last 5 days, reaching a new peak of Rs 3,573.80 per share on the NSE. UBS reiterated its optimistic outlook on IndiGo, citing the robust growth prospects of the Indian aviation sector, increasing market share in international travel, and efficient cost structure. Maintaining a Buy rating on IndiGo shares, UBS revised its 12-month target price to Rs 4,000 per share from 3,900 previously, indicating over 21% uptick from Friday’s closing price.

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“Up next – UNICEF India along with the Indian Institute of Technology (IIT) Bombay and the International Institute of Health Management Research (IIHMR) Delhi, has launched a new digital health course aimed at bridging the technology knowledge gaps in the healthcare sector. The comprehensive 10-week online course aims to address the growing demand for digital health education by disseminating knowledge and training among healthcare professionals. Starting from 17 April 2024, the ‘Digital Health Enterprise Planning’ is designed to equip healthcare professionals, policymakers, IT professionals, and others involved in healthcare technology with skills to support the sector’s digital transformation. The online health program includes nine modules and encompasses a plethora of topics crucial to digital health implementation.

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In other news -The Ministry of Home Affairs on Tuesday extended the Armed Forces Act, 1958 in three districts and the areas falling under the jurisdictions of three police stations in another district of Arunachal Pradesh for six months with effect from April 1. The districts of the northeastern state are Tirap, Changlang and Longding. A notification by the MHA read – The Central Government in exercise of the powers conferred by Section 3 of the Armed Forces Act, 1958 had declared the Tirap, Changlang and Longding districts in Arunachal Pradesh and the areas falling within the jurisdiction of Namsai, Mahadevpur and Chowkham police stations in Namsai district of Arunachal Pradesh, bordering the State of Assam as ‘disturbed area’
“Meanwhile – Kotak Mahindra Bank on Thursday said it has acquired NBFC Sonata Finance Pvt Ltd for Rs 537 crore. Sonata is operating in 10 states through 549 branches and has an Asset Under Management (AUM) of approximately Rs 2,620 crore as of December 31, 2023. “The Bank has, today, acquired 100 per cent of the issued and paid up capital of Sonata Finance Private Limited, a Non-Banking Finance Company, a microfinance institution registered with the RBI for a total consideration of approximately Rs 537 crore,” Kotak Bank said in a regulatory filing. With this acquisition, Sonata has become a wholly-owned subsidiary of Kotak Bank.

Shares of Kotak Bank were trading at Rs 1,789.35, up 0.77 per cent on the BSE.

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“Moving ahead – Renault and Nissan recently conducted a joint annual conference for FY 2023-24. The French and Japanese carmakers have announced their new product onslaught for the Indian market. Both brands have lost significant market share in the last few years with their portfolios trickling down to a handful of models. As we all know, Renault has already announced the return of Duster to India. The third-gen Duster is expected for a market launch around Diwali 2025. Now, the French carmaker has confirmed that a seven-seater SUV based on the Duster will also be brought to India. A test mule of the same was recently spotted doing trial runs in foreign soil.

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Lastly – The State Bank of India has revised the annual maintenance charges for different categories of SBI debit cards, including Classic, Silver, Global, and Contactless, that will take effect on April 1. As per the official website, there will be a revision in the current annual maintenance fees starting next month. The annual maintenance fees for various SBI debit card categories, including Yuva, Gold, Combo and Platinum Debit Cards, have been increased by Rs 75. The public lender will also alter the fees associated with issuing and replacing debit cards. Starting from April 1, there have been a number of adjustments made to specific credit cards which include suspension of certain credit cards from being able to accrue reward points.