Developing Countries Embrace AI: India and Brazil Lead the Way

Table of Contents

1. Adani Group Companies Witness Fluctuations

   • Adani Power
   • Adani Transmission
   • Adani Wilma
   • Adani Green
   • Circuit Limit Increase by NSC

2. Developing Countries Optimistic About Artificial Intelligence

   • Feedback from Developed Countries
   • Optimistic Countries: Brazil and India
   • Concerned Countries: Netherlands, France, and Japan
   • Use of AI by Top Executives
   • Employees' Perception Towards Job Elimination

3. Samsung Launches Galaxy F54 5G with Exciting Features

   • 108 Megapixel No Shake Camera
   • Special Price and Discount
   • Variant Options and Specifications

4. Maruti Suzuki Introduces New Chimney SUV Models

   • Pricing and Delivery Details
   • Automatic Transmission Variants

5. Aether Energy Offers Extended Loan Repayment for E-Scooters

   • Beneficiary Financial Institutions
   • Affordability and Market Growth

6. Mahila Samriddhi Scheme Attracts Women Depositors

   • Investment Surge for Mahila Samriddhi Saving Certificate
   • Investment Limit, Interest Rate, and Taxability
   • Future Availability and Deadline

7. Senior Citizens Show Increased Investment in Saving Scheme

   • Interest Rate Hike and Investment Surge
   • Comparison with Bank Fixed Deposits
   • Benefits for Elderly and Savings Habit

8. Delhi Government Promotes 24-Hour Shop Operation

   • Effort to Boost Business Environment
   • Job Opportunities and Convenience for Residents

9. Bajaj Finserv Mutual Fund Delays Launch of Equity Funds

   • Entry of Bajaj Group in Mutual Fund Industry
   • Introduction of Fixed-Income, Liquid, and Money Market Products
   • AdVantage of Being a Late Mover in Indian Market

Adani Group Companies Witness Fluctuations

Shares of Adani Power and other companies under the Adani Group may experience significant fluctuations in the coming days. The National Stock Exchange has increased the circuit limit on Adani Power stocks from five percent to 20 percent. This change is expected to cause massive fluctuations in share prices. Apart from Adani Power, shareholders of Adani Transmission, Adani Wilma, and Adani Green may also witness similar effects as the circuit limit has been increased for these stocks as well. Adani Power's stocks have already seen a five percent jump, closing at 294 rupees on Wednesday. This decision by the NSC also affects Rail Vikas Nigam Limited, with its stock experiencing a six percent jump on the BSE.

Developing Countries Optimistic About Artificial Intelligence

A survey conducted by Boston Consulting Group reveals that developing countries express more optimism towards artificial intelligence (AI) compared to developed countries. Feedback from developed countries indicates a significant concern about the threats caused by AI. Brazil and India emerge as the most optimistic countries, while Netherlands, France, and Japan are the most concerned about these threats. Top executives from companies worldwide confess to utilizing Generative AI to enhance work efficiency. Interestingly, only one third of the employees surveyed believe that their jobs are likely to be eliminated by AI. Most employees perceive the need for upskilling to adapt to the rise of AI.

Samsung Launches Galaxy F54 5G with Exciting Features

Samsung has introduced the Galaxy F54 5G smartphone, which comes packed with impressive features. The smartphone offers a state-of-the-art 108-megapixel no-shake camera for capturing stunning photos and videos. Customers can purchase this flamboyant smartphone at a discounted price of 27,999 rupees on Flipkart and Samsung stores, inclusive of a 2,000 rupees discount on plastic money transactions. The phone is available in Blue and silver shades and boasts an Android 13 operating system, a 6.7-inch AMOLED screen, a 32-megapixel selfie camera, and a powerful 6,000 mAh battery. Additionally, it offers a maximum storage capacity of 256 GB.

Maruti Suzuki Introduces New Chimney SUV Models

Maruti Suzuki, the largest automobile manufacturer in the country, has launched new models of its five-door SUV, Chimney. The base model of the SUV comes at an additional showroom price of 12.74 lakh rupees. Deliveries of the SUV have commenced from June 7, 2023. The automatic transmission variants, namely Alpha and Beta, are priced higher than the manual transmission variant Zeta. The Zeta model costs 13.94 lakh rupees, while the Alpha MT model is available at an extra showroom price of 13.69 lakh rupees. The highest variant, Alpha 80, is priced at 15.05 lakh rupees. Maruti Suzuki aims to cater to the diverse needs of SUV enthusiasts with these new models.

Aether Energy Offers Extended Loan Repayment for E-Scooters

Aether Energy, a Bengaluru-Based electric two-wheeler manufacturer, has rolled out a new facility for its customers to make purchasing e-scooters more affordable. Customers availing financing options from financial institutions such as IDFC First, Bajaj Finance, and Hero Fincop will now have a repayment period of 60 months or 5 years. This extended loan tenure will allow customers to manage their finances better while owning an e-scooter. The prolonged repayment period is expected to expedite the growth of India's two-wheeler market, making electric vehicles more accessible to the masses.

Mahila Samriddhi Scheme Attracts Women Depositors

The Mahila Samriddhi Saving Certificate Scheme, launched by Finance Minister Nirmala Sitharaman in Budget 2023, has gained significant Attention from women depositors. Within just two months of its launch, over 5 lakh women depositors have invested in the scheme, amounting to a surge of 366 crore rupees. Currently, women can invest in the scheme only through post offices. However, it is anticipated that investors will soon be able to open accounts through banks by the end of this month. The investment limit for the scheme is 2 lakh rupees, and women depositors receive a fixed interest rate of 7.5 percent. It is important to note that the returns are taxable. The scheme remains open until March 31, 2025, providing women with a secure investment option.

Senior Citizens Show Increased Investment in Saving Scheme

Senior citizens have shown a remarkable increase in investments in the Senior Citizens Saving Scheme since the government's decision to hike the interest rates to 8.2 percent on April 1, 2023. In the months of April and May of the Current calendar year, senior citizens have quadrupled their investments in the scheme compared to the same period last year. The elderly have collectively invested a total of 23,000 crore rupees in just two months. The scheme offers higher interest rates than most fixed deposits offered by banks in the country. This surge in investment not only boosts the assets under management (AUM) of the scheme but also promotes a savings culture among the elderly population.

Delhi Government Promotes 24-Hour Shop Operation

In an endeavor to boost the business environment in New Delhi, the Delhi government has granted permission for more shops to operate 24 hours. The aim of this initiative is to promote ease of doing business and Create more job opportunities while safeguarding the interests of workers. This move is expected to contribute to the overall development of Delhi's economy. Additionally, it will enhance the availability of essential goods and services for the residents of Delhi, making their lives more convenient. The extension of operating hours will also result in increased employment opportunities.

Bajaj Finserv Mutual Fund Delays Launch of Equity Funds

Bajaj Finserv Mutual Fund has announced a delay in launching equity funds. The Bajaj Group recently entered India's mutual fund industry and plans to introduce three schemes, including fixed-income, liquid, and money market products by the end of the current month. The group's Chairman and Managing Director, Sanjeev Bajaj, emphasized that being a late mover in the Indian market provides them with the advantage of understanding what works and what doesn't work. He pointed out that the mutual fund industry in India is relatively small compared to industries in the US, England, and Singapore. Currently, there are 42 registered asset management companies in India with an overall AUM of 42 lakh crore rupees.