UPI in France

India’s UPI Takes the Spotlight on the Eiffel Tower: Possible Government Stake Sale in SBI and ONGC, as Gold Surpasses 63 Thousand Once Again

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Yesterday’s big news was related to UPI. Exciting News: UPI Takes Its First Step in France on a Friday The Indian Embassy formally launched the Unified Payment Interface (UPI) at the Eiffel Tower in Paris on 2 February. India’s UPI Takes the Spotlight on the Eiffel Tower: Possible Government Stake Sale in SBI and ONGC, as Gold Surpasses 63 Thousand Once Again

At the same time, the government can sell its controlling stakes in two public sector companies, State Bank of India (SBI) and Oil and Natural Gas Corporation (ONGC). The government currently holds 57.49% stake in SBI and 58.89% stake in ONGC.

1. India’s UPI Makes Its Debut on the Eiffel Tower in France: Modi Expresses Joy; Macron-Modi’s Digital Payment Connection in Jaipur Comes Full Circle

On Friday, the Indian Embassy in France officially introduced the Unified Payment Interface (UPI) at the iconic Eiffel Tower in Paris. This move allows individuals to seamlessly book tickets for the Eiffel Tower using UPI. Prime Minister Modi, pleased with the development, had previously engaged in digital payments with President Macron during their meeting in Jaipur.

Prime Minister Narendra Modi has reacted to this. He expressed, ‘Seeing this brought immense joy. Truly a delightful experience This is an important step towards making UPI global. This will promote digital payments.

2. Government can sell its stake in SBI and ONGC: Finance Minister said – Government does not shy away from disinvestment, wants to increase the valuation of companies.

The government may sell its controlling stakes in two public sector companies, State Bank of India (SBI) and Oil and Natural Gas Corporation (ONGC). The government currently holds 57.49% stake in SBI and 58.89% stake in ONGC. TV18 has given this information.

Finance Minister Nirmala Sitharaman shared that the government holds a positive stance on selling its stake in public enterprises. She emphasized that there is no reluctance to part with these stakes, and the government is open to maintaining minority shares in its companies. A minority stake, defined as less than 50% ownership in any firm, is not viewed unfavorably by the government

3. SBI’s third quarter results announced: Net profit of the bank declined by 35% in Q3 to ₹ 9,163 crore, net interest income was ₹ 39,815 crore.

State Bank of India (SBI), the country’s largest public sector bank, has declared the results of the third quarter (October-December) of the financial year 2023-24 today on Saturday (February 3). The bank’s net profit declined 35% year-on-year (YoY) to Rs 9,163 crore in Q3FY24. It was Rs 14,205 crore in the same quarter last year.

However, the bank reported a standalone net profit of Rs 40,378 crore in the first 9 months of FY24. This is 20.40% higher than the standalone net profit of Rs 33,538 crore for the first 9 months of FY23. The bank’s interest income in the third quarter increased by 22% on annual basis (YoY) to Rs 105,733.78 crore. It was Rs 86,616.04 crore in the same quarter last year.

4. “This Week Brings a Glint to Precious Metals: Gold Surpasses 63 Thousand Again, While Silver Edges Closer to 72 Thousand.”

This week there has been a rise in the prices of gold and silver. According to the website of India Bullion and Jewelers Association (IBJA), in the bullion market, at the beginning of this week, i.e. on January 29, gold was at Rs 62,497, which has now reached Rs 63,142 per 10 grams on February 3. At the beginning of this week it was at Rs 71,354, which has now reached Rs 71,864 per kg. That means its price has increased by Rs 510 this week.

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