Blog - NewNerve

Gurgaon Real Estate Trends: Opportunities for First-Time Homebuyers

22Jul

By AnkitNo Comments

Real Estate, Business

Gurgaon Real Estate Trends: Opportunities for First-Time Homebuyers

The Gurgaon real estate market is currently experiencing a dynamic shift, characterized by evolving buyer preferences, increasing demand for sustainable living, and a focus on affordable housing. As the city continues to develop as a hub for technology and business, it presents numerous opportunities for first-time buyers and end-users. Here’s an overview of the current trends, opportunities for first-time buyers, and a list of notable projects categorized by type. Current Trends in Gurgaon Real Estate Sustainable and Green Living: There is a growing emphasis on eco-friendly developments. Many new projects incorporate energy-efficient designs and smart home technology to appeal to environmentally conscious buyers. Affordable Housing: The demand for affordable housing remains stron...

Fintech’s Wishlist for Budget 2024: A Call for Digital Infrastructure and Innovation

20Jul

By Ankit1 Comment

Economics, Finance, Fintech

Fintech’s Wishlist for Budget 2024: A Call for Digital Infrastructure and Innovation

The Indian fintech sector, a dynamic force driving financial inclusion and innovation, is eagerly awaiting the Union Budget 2024. With its rapid growth and potential to transform the financial landscape, the sector is looking for policy measures that can further propel its trajectory. Here are some key expectations from the fintech industry for Budget 2024: 1. Boosting Digital Public Infrastructure: Investment in UPI and Digital Payments: The fintech industry is calling for increased investment in the Unified Payments Interface (UPI) and other digital payment infrastructure. This includes expanding UPI's reach to rural areas, enhancing its security features, and exploring potential for cross-border payments. Promoting Open Finance: Encouraging the adoption of open finance fra...

Global Microsoft IT Outage: What We Know About?

19Jul

By AnkitNo Comments

BFSI, Cyber Crime, Global BFSI

Global Microsoft IT Outage: What We Know About?

In an unexpected turn of events, a widespread and massive IT outage sent shockwaves across the globe. Major airlines, banks, and healthcare providers found themselves grappling with disruptions caused by a single content update for Windows. As the world held its breath, cybersecurity experts raced to identify the root cause and deploy a fix. In this article, we delve into the impact, resolution, and lessons learned from this unprecedented incident. A massive global IT outage disrupted flights, banks, media outlets, and businesses worldwide. The problem originated from a “defect found in a single content update for Windows” provided by the cybersecurity company CrowdStrike. Here are the key points: Incident Overview: On July 19, 2024, a widespread IT outage occurred, impacting c...

Synapse Bankruptcy: A Warning Sign for Fintech?

16Jul

By AnkitNo Comments

BFSI, Business, Fintech, Payments, Startups

Synapse Bankruptcy: A Warning Sign for Fintech?

The recent bankruptcy of Synapse, a prominent fintech company, has sent shockwaves through the industry, raising concerns about the stability of the burgeoning sector. Synapse, known for its innovative banking-as-a-service (BaaS) platform, filed for Chapter 11 bankruptcy on [date], citing a combination of factors, including rising interest rates, a challenging economic environment, and a decline in customer demand. The company's collapse has sparked widespread debate about the future of fintech, with some experts questioning the sustainability of the industry's rapid growth. Here are some key takeaways from the Synapse bankruptcy: The BaaS model faces challenges: Synapse's reliance on the BaaS model, which provides banking services to other businesses, proved vulnerable to market...

Cyber Heist in Noida: Rs. 16.5 Crore Stolen from Nainital Bank

15Jul

By AnkitNo Comments

Banking, BFSI, Blog, Cyber Crime

Cyber Heist in Noida: Rs. 16.5 Crore Stolen from Nainital Bank

Noida, India - A major cyber heist has rocked the city of Noida, with Rs. 16.5 crore stolen from a branch of Nainital Bank. The incident, which occurred on [Date of Incident], has raised serious concerns about the vulnerability of Indian banks to cyberattacks. According to reports, the criminals exploited a security flaw in the bank's system to siphon off the funds. While the exact method of the heist remains unclear, authorities are currently investigating the incident and attempting to trace the stolen funds. The incident has sparked widespread panic among customers and has highlighted the urgent need for enhanced cybersecurity measures in the banking sector. Read More on: How Cyber Thieves Cleaned Out Rs 16.5 Crore From Nainital Bank Noida Branch (ndtv.com) Also Read: Cy...

PM Modi Unveils ₹29,400 Crore Infrastructure Bonanza for Mumbai

14Jul

By AnkitNo Comments

Blog, Economics, Finance, Goverment Notice/Circulars

PM Modi Unveils ₹29,400 Crore Infrastructure Bonanza for Mumbai

Prime Minister Narendra Modi visited Mumbai today, July 13, 2024, and announced a slew of major infrastructure projects worth over ₹29,400 crore.[1][3] The key projects launched by PM Modi include: Laying the foundation stone for the Thane-Borivali Tunnel Project, valued at ₹16,600 crore. This 11.8 km tunnel will create a direct connection between the Western Express Highway at Borivali and Ghodbunder Road in Thane, reducing travel time by 1 hour.[1] Launching the Goregaon Mulund Link Road (GMLR) project, worth over ₹6,300 crore. This will connect the Western Express Highway at Goregaon to the Eastern Express Highway at Mulund, cutting travel time from 75 minutes to just 25 minutes.[1][3] Initiating the Kalyan Yard remodelling project and the Gati Shakti Multi...

PM Modi Shifts Gears: Overhaul for State-Run Firms, Not Privatization

13Jul

By Ankit1 Comment

BFSI, Blog, Economics, Finance

PM Modi Shifts Gears: Overhaul for State-Run Firms, Not Privatization

In a surprising move, Prime Minister Narendra Modi has announced a shift in strategy regarding state-owned enterprises (SOEs). While the government had previously indicated a strong push for privatization, Modi has now opted for a complete overhaul of these firms, aiming to improve their efficiency and competitiveness. This change in direction comes after extensive consultations with industry experts and stakeholders. The government acknowledges that while privatization can be a viable option in certain cases, it believes that a comprehensive revamp of SOEs is crucial for their long-term success. The overhaul will include a multi-pronged approach: Modernization of Operations: SOEs will be equipped with cutting-edge technology and streamlined processes to enhance thei...

MariBank Founder Zheng Yu Dong Resigns as CEO, Transitions to Advisory Role

12Jul

By Ankit1 Comment

Fintech, Banking, Global BFSI, Startups

MariBank Founder Zheng Yu Dong Resigns as CEO, Transitions to Advisory Role

Zheng Yu Dong, the founding CEO of MariBank, a digital bank licensed by the Monetary Authority of Singapore (MAS) and a wholly-owned subsidiary of Sea Group, has announced his decision to step down from the CEO role after a five-year tenure. According to a LinkedIn post by Zheng, he will continue to serve as an advisor to both MariBank and Sea Group, the parent company. Sea Group has secured two digital banking licenses - one in Singapore to establish MariBank, and another in Malaysia for the yet-to-be-launched YTL-Sea Digital Bank Project. Under Zheng's leadership, MariBank has reported significant growth in its customer deposits and balances. In 2023, the digital bank recorded S$503.8 million in deposits and balances, a massive increase from just S$2 million the previous year. H...

KPMG Launches ‘Clear on Climate Reporting’ Platform to Assist Companies with Climate-Related Financial Disclosures”

12Jul

By AnkitNo Comments

Blog

KPMG Launches ‘Clear on Climate Reporting’ Platform to Assist Companies with Climate-Related Financial Disclosures”

KPMG, the global professional services firm, has launched a new digital platform called "Clear on Climate Reporting" to help businesses navigate the complex landscape of climate-related financial reporting. [2] The hub offers a wide range of resources to assist companies in addressing various climate-related reporting challenges, including: Understanding Financial Implications Determining the impacts of climate-related matters on financial statements [1] Providing relevant and transparent disclosures to enable investor understanding [1] Adhering to IAS 1 requirements for information that could influence investor decisions [1] Accounting for Emissions and Green Initiatives Accounting for emissions programs and voluntary carbon credit sc...

Outdated Payment Systems Are Hurting Travel Companies’ Bottom Line

12Jul

By Ankit1 Comment

Payments, BFSI, Fintech, Global BFSI

Outdated Payment Systems Are Hurting Travel Companies’ Bottom Line

A new report by Airwallex and Skift Research reveals that a whopping 66% of travel companies worldwide are struggling with shrinking profit margins due to outdated payment systems. This isn't just a minor inconvenience; the study found that 90% of these companies are prioritizing upgrades to their payment and financial operations systems within the next year. The report, based on a survey of 473 travel executives from seven global markets, highlights the challenges of managing cross-border payments. 70% of travel companies find it increasingly difficult to navigate the diverse range of new payment methods emerging in different markets. The survey also uncovered the financial struggles faced by the travel sector, including: Managing local payment systems: Companies struggle to h...