In a major move, the State Bank of India (SBI) has stated its plan to open 300 brand new branches all over the country in this financial year. Currently, SBI already has a massive network of 22,405 branches spread across India, along with 235 branches and offices in foreign lands. This expansion spree shows SBI’s commitment to making banking easier for everyone.

Dinesh Khara, the head honcho of SBI, also mentioned that the bank is thinking about increasing its “business correspondents.” These correspondents help in taking banking services to even the remote areas. So, banking could get a whole lot closer to you.

SBI is on a roll. The bank just reported its highest-ever profit in the first quarter of this financial year – a whopping ₹16,884 crore! Last year, during the same time, it made a profit of ₹6,068 crore. This jump in profits happened because SBI managed to reduce the number of loans that were not being paid back, gave out more loans, and took advantage of higher interest rates.

So, while SBI is already pretty big, it’s getting even bigger. With its eyes set on more branches and helping hands in the form of business correspondents, it’s clear that SBI is gearing up to make banking simpler and more profitable for itself and its customers.

This is what you need to know

• X will bring video as well as audio calling features.
• X CEO Linda Yaccarino has confirmed the feature roll out happening soon.
• She has also confirmed there wouldn’t be a need for a phone number to make video calls.

X, formerly twitter, has been quite the roller coaster ride ever since Elon Musk acquired the brand and renamed it, bringing various drastic changes and new feature additions. One such upcoming feature is the ability to make video calls via Direct Messages on the platform.

The announcement comes from X CEO Linda Yaccarino through an interview given to CNBC, explaining the reason for Twitter’s rebranding to X. According to the CEO, ever since Musk’s acquisition, there have been several experiences and evolutions seen on X, such as long-form videos, articles, and having the option to subscribe to favorite creators, amongst others. 

Further remarking about video, Yaccarino said, “You look at video, and soon you’ll be able to make video chat calls without having to give your phone number to anyone on the platform.”

Andrea Conway, a current designer at X, had already implied about the feature in July in a post implying we could soon see audio and video call capabilities. Conway had additionally shared screenshots of the feature on X, representing what to expect from the interface once the feature rolls out. The shared image showcases X’s DM between persons, where you can spot a phone icon in the top right corner.

Tapping it would allow users to have an audio or video call with the person from the DM. The other shared image reveals the ongoing video call interface, which resembles that of most messaging apps. In corresponding tweets, Conway had further assured users would be able to adjust these upcoming call feature settings from their accounts so that not everyone from the platform could call them DMs.

Like some other messaging platforms, an X user doesn’t need the user’s phone number or email to call another person on X, so long as they know each other and seemingly are already connected on X. We’ll likely know more once the feature rolls out, but it will be an exciting addition to the platform.

Enterprises involving Leading Global Laptop Manufacturers Apply for impulses under Rs 17,000 Cr PLI Scheme For IT Hardware

Forty- four companies, involving leading global players, have submitted operations for impulses under the product- linked incitement( PLI)2.0 gambit for domestic manufacturing of laptops, tablets, each- by- one particular computer waiters andultra-small shape procurator( USFF), The Economic Times reported.

The window for entering operations under the PLI gambit2.0 for IT Hardware is August 30.

“Leading laptop companies have registered for PLI and some of them are ready to start fabricating in India any time. Global garçon companies have spoken that they want to make India an import mecca for waiters,” news division PTI quoted an elderly functionary.

The incitement gambit is crucial to India’s intentions to come a hustler in the global electronics force chain, with the country targeting periodic product worth$ 300 billion by 2026.

Dell, Acer, Samsung, LG Electronics, Apple Inc, Lenovo and HP Inc are some of the crucial companies dealing laptops in the Indian request, and a physical portion is imported from nations similar as China.

On May 17, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the PLI Scheme2.0 for IT tackle. The incitement gambit aims to broaden and consolidate the IT tackle manufacturing ecosystem by encouraging the localisation of factors andsub-assemblies and developing a flexible force chain within the country.

The gambit was notified on May 29.

The gambit will give an moderate incitement of around 5 on net incremental deals( over the base time) of laptops tablets waiters formed in India to eligible companies for six times.

With the operation window for PLI gambit set to close by August 30, the Union government blazoned that it’ll introducing a new clearance governance for import of IT tackle.

The Directorate General of Foreign Trade( DGFT) blazoned on Friday( August 4) that the new licensing governance for importing some orders of laptops, tablets and particular computers will come into sequel beginning November 1.

On Thursday (August 3), the commerce machinery blazoned that tackle manufacturers will now bear a valid clearance and must pay duty to import PCs, laptops, tablets, waiters etc.

The Commerce Ministry announcement spoke that impunity would be handed on the import clearance only for over to 20 of similar particulars per consignment for the purpose of exploration and evolution, testing, benchmarking and evaluation, form andre-export and for product evolution.

The government’s recent resolution to circumscribe significances is discerned as a shot to boost the domestic product and assembly of electronic goods. Electronic significances, involving laptops, tablets, and particular computers, reckoned for$19.7 billion between April and June 2023, expanding at a rate of roughly 6 each time.

Union Minister of State( Mos.) for Electronics and Information Technology Rajeev Chandrasekhar spoke that the restrictive governance for the import of laptops tablets PCs etc. levelled to reduce import reliance and goad domestic manufacturing of laptops and particular computers.

India is offering a PLI gambit to gauge up domestic manufacturing, produce public titleholders, support induce voluminous- scale employment, establish tone- dependence in a physical portion of the manufacturing value chain and transfigure India into a manufacturing mecca for ICT( Internet, message, technology) productions for the world.

While manufacturing of movable phones has been an emotional success story, in other electronic productions similar as laptops, waiters, and smart bias, the pace of revise has not been as brisk.

Apple Inc.’s request value is now decisively below the major$ 3 trillion position, after the iPhone maker’s outlook for the fourth quarter sparked worries over tepid demand for its handsets and other widgets.

Pieces in the California- grounded company ceased 4.8% on Friday, performing in a request capitalization of around$2.85 trillion. The day’s decline, Apple’s largest since September, described a drop of further than$ 160 billion in request value. In June, Apple came the first company with a$ 3 trillion value.

In its report, Apple posted its third right quarter of declining deals, and prognosticated a analogous interpretation in the current period.

Rosenblatt Securities downgraded the stock to neutral, stating the mixed report “highlights the retardation phase in which Apple now sits.” Indeed though the company’s Services business is accelerating, “a retardation in the U.S. seems likely to survive until a concrete new product order takes hold.” Critic Barton Crockett sees this prospect as “ uncertain both in timing and success, leaving little argument to favour pieces now trafficking near peak absolute and relative multiples. ”

Apple’s estimation has been a company for investors. The stock trades at around 28 moments estimated earnings, a decoration to both its own history and the common request.

The response to Apple’s effects wasn’t slightly inhospitable, and Citi is auspicious about where it goes from then. The establishment placed Apple on a 90- day downside catalyst guard ahead of its anticipated iPhone 15 series release in September.

Indeed with the day’s drop, Apple remains over 40 this time, roughly indeed with the interpretation of the Nasdaq 100 Index. Still, Friday’s decline meant the stock closed below its 50- day moving normal for the first time since January, a gesture of weak near- tenure instigation.

New Delhi: 

Ambuja Cement, a part of Adani Group, today announced its purchase of Sanghi Industries for ₹ 5,000 crore.

Shortly after the acquisition, Gautam Adani said Ambuja Cement’s promises to double its cement capacity by 2028.

Ambuja Cement said the acquisition will be fully funded via internal accruals. This acquisition will boost Ambuja Cement’s production capacity to 73.6 million tonnes per annum.

The statement said its goal to reach 140 million tonnes per annum capacity by 2028 will be achieved ahead of time.

“Our aim is to make SIL the lowest cost producer of clinker in the country. Ambuja will increase the cement capacity at Sanghipuram to 15 MTPA in the next two years,” the company said.