UBS Sells India Wealth Business to 360 ONE for $36 Million
Swiss banking giant UBS has agreed to sell its India-based wealth management business to 360 ONE Wealth (formerly IIFL Wealth) for ₹3.07 billion (around $36 million). As part of the deal, UBS will also take a 4.95% equity stake in 360 ONE, marking the start of a long-term strategic partnership between the two financial firms….
IMF Trims India’s 2025 Growth on Global Pressures
The International Monetary Fund (IMF) has revised India’s GDP growth forecast for 2025, lowering it from 6.5% to 6.2%. This adjustment comes amid rising global trade uncertainties, including tensions driven by U.S. tariff policies. While India’s domestic demand remains strong, external challenges are beginning to weigh on the country’s growth prospects. What’s Behind the Downgrade?…
Amazon, Walmart Push U.S. to Open Indian Market Access
India is under increasing pressure from the United States to grant full market access to American e-commerce giants Amazon and Walmart. This issue has become a focal point in ongoing trade negotiations between the two countries. U.S. Push for Market Access The U.S. administration is advocating for the removal of existing restrictions that limit foreign…
India Slaps 12% Tariff to Shield Local Steel Industry
India has introduced a 12% safeguard tariff on specific steel imports to shield domestic manufacturers from a sudden surge in low-cost steel, particularly from China. This new duty will be in effect for 200 days, giving local producers a much-needed breather. The move follows concerns from Indian steel companies that rising imports were putting pressure…
Top 3 Business Stories of the Day – 21th April, 2025
At Scoop’d Up, we simplify the day’s top business news for you. Here are the three major stories making headlines on April 21, 2025: 1. Sensex Breaches 75,000-Mark for the First Time The BSE Sensex has achieved a significant milestone by crossing the 75,000 mark for the first time. This surge is attributed to strong…
Top 3 Business Stories of the Day – 20th April, 2025
20th April, 2025 brought several key developments in the business world. From a significant diplomatic visit to a tech billionaire announcing his India plans, and a major regulatory update—these are the top three stories you should know about today. 1. US Vice President JD Vance Begins India Visit to Boost Trade US Vice President JD…
BluSmart Crisis: Aman Gupta Calls for Strong Ethics in Startups
The ongoing BluSmart crisis has sparked a strong reaction from Aman Gupta, co-founder of boAt and judge on Shark Tank India. Gupta has stressed the need for ethical governance in startups, particularly during times of crisis. He pointed out that the impact of such situations goes beyond the immediate company, affecting investors, employees, and customers…
RBI Flags ₹1.7 Trillion Daily Liquidity Surplus Amid Market Concerns
The Reserve Bank of India (RBI) has recently raised a red flag over India’s call money market, pointing to concerns over liquidity transmission. Despite a ₹1.7 trillion daily liquidity surplus in April, the RBI Governor Sanjay Malhotra, warned that the current state of liquidity could pose risks to the smooth transmission of monetary policy. What…
PhonePe Becomes Public Entity Ahead of $15B IPO
PhonePe, one of India’s leading fintech players, has officially transitioned into a public company, moving one step closer to its much-anticipated initial public offering (IPO). Backed by Walmart, this move sets the stage for PhonePe to potentially raise funds at a whopping $15 billion valuation. The company, which started under Flipkart before separating in 2020,…
Infosys Lets Go of 240 Trainees After Failing Internal Assessments
In a tough move, Infosys has reportedly terminated 240 fresh trainees after they failed to clear internal assessments. These assessments are part of the company’s standard onboarding and training process for new recruits, usually conducted after freshers join from campus placements. This is the second time this year that Infosys has taken such action. Earlier…
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