IndusInd Bank lost nearly ₹20,000 crore in a single day! What went wrong? Let’s break it down 🧵👇

1/ Earlier this week, IndusInd Bank admitted to an accounting issue related to its derivative transactions. 2/ Because of this, the bank had to adjust its valuation down by ₹1,500–2,000 crore.

UPI Transactions No Longer Free? 🧵👇

1/ UPI has undoubtedly reformed the digital payment landscape, especially by keeping transactions free for both merchants and users. 2/ But that could change as Fintechs have requested the government to reintroduce MDR (Merchant Discount Rate)—a fee merchants pay for real-time payment processing on UPI and RuPay Debit Cards.

Do we need 24 hour stock markets?🧵👇

1/ Until 1952, US stock markets used to work 5.5 days a week!
Then, they switched to a 5-day schedule but added 30 minutes to weekday trading hours to compensate.
But now, markets are expanding again—almost 24/5. 2/ Over time, trading hours gradually increased:

- 1974: NYSE extended its closing time from 3.30 PM to 4 PM.
- 1985: Opening time shifted from 10 AM to 9.30 AM.
- October 2024: NYSE Arca announced plans for 22-hour trading.

1/ Running an airline is tough. Costs are high, competition is cutthroat, and profits are rare. Just ask Jet Airways or Go First. Even Air India needed a Tata bailout.

But amid all this, one airline seems to be making a comeback—SpiceJet. Here’s how. 🧵👇 2/ For years, SpiceJet was in trouble—debt-ridden, losing market share, and struggling to stay afloat. But in Q3FY25, it turned a profit of ₹26 crores. A huge shift from its ₹300 crore loss in the same quarter last year. So, what changed?

1/

Is Volkswagen being forced to leave India by the government? 👀🚗

The govt is asking them to pay up $1.4 billion in taxes!

But why? Find out below 🧵👇 2/

Indian tax authorities claim that Volkswagen owes them huge import duties.

It all comes down to how they import car parts. Let’s break it down.

Automakers like Volkswagen don’t build cars from scratch in India. Instead, they source parts from all over the world.

Think of it like assembling an IKEA table—you get multiple parts from different places and put them together.

1/7

RBI cuts repo rate by 25 basis points to 6.25%, a first in 5 years!

What does this mean for you, your loans, and the economy?

Let’s break it down in simple terms🧵👇 2/7

The RBI’s Monetary Policy Committee (MPC) just cut the repo rate by 25 basis points to 6.25%. This is the first rate cut in five years!

But what is repo rate? 🤔

It’s the interest rate at which the RBI lends money to banks. When this rate goes down, borrowing becomes cheaper, making loans more affordable.

Reliance Industries 2024 AGM just ended!

The only thread you need to know EVERYTHING about RIL AGM 2024

1/n

🧵👇 Updates about Jio Telecom

-Jio now world's largest mobile data company with a 490-million users, on average consuming over 30 GB of data monthly
-Jio's network carries nearly 8% of global mobile traffic.
-​​Jio users to get up to 100 GB of free cloud storage, to store and access photos, videos, documents, all other digital content, and data

2/n

Boeing is in trouble, and a deal it struck around 25 years ago is to be blamed.

What?!! 👀👇🏽 You see, Boeing started as an "engineers" company.

But then in 1997, the aircraft manufacturer merged with McDonnell Douglas and things started to change.

The new entity started focusing more on affordability, rather than quality.

The RBI made ₹2.20 lakh crores profit in FY23!

How on earth did it achieve this? 🧵👇🏽 Well, through something called ‘seigniorage’.

Think about it this way—

If the RBI prints a ₹100 note and gives it to a bank for circulation.

Nov 2022: Valued at $450 Mn, ZestMoney was all set to be acquired by PhonePe.

Dec 2023: ZestMoney shuts down!

What changed?

🧵👇🏼 2023 hasn’t been kind to ZestMoney–

The funding dried up;
PhonePe backed away from the acquisition;
And even the 3 founders resigned in May.

The reason?

🚨Retail inflation hit an alarming 15-month high of 7.44% in July 2023!

To give you some perspective, the RBI is expected to keep inflation between 4-6%. Now this could be a challenge for us. So, what should you do to protect your finances?🤔

Here are 3 things to know 🧵👇🏽 ✅TRACK YOUR SPENDING

Bucket all your expenses into broad categories— rent, electricity, phone bills, personal care, groceries, childcare, fuel, subscriptions, transportation, house maintenance etc.

In 1995 Steve Jobs became a billionaire. But..

It wasn't because of Apple😲! Surprising, right?

Well, here's the story of what happened 🧵👇🏽

(Like❤️& RT🔄️) See, the story starts in 1986 when after being forced out of Apple, Steve Jobs acquired Pixar from filmmaker George Lucas for a mere $5 million. And further invested another $5 million in the company.

The A B Cs of Recession Recovery 🧵👇🏼

(Don't forget to Like and RT this tweet)

YES Bank saved millions! All thanks to English Grammar 🤯

Sounds bizarre, doesn't it?

But believe it or not, that's precisely what happened 🧵👇🏼 In 2020 Cantor Fitzgerald, a US-based financial services firm, sued Yes Bank in a court in London. They claimed that Yes Bank owed them a 2% commission for helping the bank in financing its FPO (Follow-on Public Offering).

"Please make a term calculator"
"When will you launch a term calculator?"

Time & again you've asked this

TODAY, @joinditto IS HERE WITH IT!🎉

Introducing TERM INSURANCE CALCULATOR 👉🏼bit.ly/432uh4Z

But, how is this calculator different from others? 🧵 Let’s take Rahul for example👨

He is 30 with a wife & a kid👨‍👩‍👦

He earns ₹15 LPA

Now, any other calculator out there would use a basic rule of thumb—

10x the annual income and suggest him a term cover of ₹1.5 CR.

But...

How TATA SALT accidentally became Desh Ka Namak 👇🏼

🧵 Back in the 1930s–

Tata Chemicals had just set up a soda ash plant in Mithapur, Gujarat– which demanded high freshwater supply.

Now, Mithapur is an arid region and freshwater is scarce. So naturally, Tata Chemicals soon started running out of water.

CHATGPT IS DRINKING WATER?! 😲👇🏼

Maybe even more than you. Sounds pretty absurd, right? But it’s true!

🧵 Well, it seems AI has an enormous water footprint. But what does AI need water for?

You see, AI models are trained and developed in warehouse-scale data centres informally called “energy hogs”.

🤗Finshots Recommends — A list of must-read books on business, finance, economics, and more!

🧵👇🏼 📕Psychology of Money

A beginner-friendly collection of stories that explores how people think about money and how to make more informed financial decisions.

Dolo 650 sold whopping 350 Crore+ tablets in India during the pandemic!

Stack that lengthwise and it would be over 50000 times taller than Burj Khalifa.

But, Dolo wasn’t always our go-to paracetamol

(Hint: Crocin/Calpol)

So, what changed?🤔 🧵 Manufactured by Chennai-based Micro Labs, Dolo 650 has been around since 1993.

Although Crocin, Calpol, and Dolo‒ all contain the same magical fever-fighting salt Paracetamol, it’s the “650” that sets Dolo apart.🫰

Indian income tax authorities are knocking on Netflix’s door. Why? 👀👇🏼 Netflix India might soon receive a notice for a ₹55 crore tax demand for its earnings in FY22.

Okay, but why is that surprising? Shouldn’t companies that earn money in India pay tax here?

Well, tax rules aren’t so simple.

A couple of months ago, everyone was worried that Microsoft and ChatGPT would kill Google. But Google’s trying to fight back!

Here's an explainer of what’s going on 👀👇🏼 In February, Google shares lost $100 billion in value in a single day. Its AI chatbot Bard had a disastrous launch.

Now if you were a betting person, you might have placed your chips on Microsoft. The tech giant had invested in ChatGPT & weaved it into its search engine Bing.