In this week's wrapup, we talk about Zee Business' stock experts cum front runners, the e-Rupee's programmability feature, how the central government shares taxes with states and more.

For the markets edition, we dive into Nirma's acquisition of Glenmark Life Sciences and why it wants to buy a business that even its listed parent Glenmark Pharma doesn’t want. You can read it here.

Meanwhile, here’s a recap of what we wrote over the week.

How stock experts minted money from TV shows

Last week, markets regulator SEBI (Securities and Exchange Board of India) barred a handful of stock experts from trading in the stock market. Not just that, it also asked them to pay a hefty fine of close to ₹8 crores!

Their crime?

They profited from simply appearing on Zee Business' stock recommendation shows. And their loyal fanbase had no clue. So how did they pull up such a scam and how did SEBI unfurl it? Well, you'll have to head over to this link to find out.

Will RBI make money dance to its tunes?

The RBI just proposed to introduce the programmability feature to e-Rupee, the Central Bank Digital Currency (CBDC). It just means that you can use the digital currency only for the specific purpose it's been programmed.

So, let's say your employer pays a part of your salary in the e-Rupee form. But it's programmed to only buy food or groceries. But why do we need this kind of earmarked usage or even the e-Rupee for that matter? Find out in our story here.

The rise and rise of GIFT City

A decade ago, India's GIFT City seemed doomed. The tall buildings that were promised were incomplete and utilities were missing. But cut to 2024, it's bustling with activity.

Startups and even established companies want to move their base, business or investments there. So what changed for GIFT City, and could it emerge as a beacon of India's economic prowess? We answered that in our story here.

Why is Karnataka protesting against the Central Government?

Karnataka is upset with the Central Government. It feels that it isn't getting its fair share of taxes. And this shortfall could be as much as a whopping ₹62,100 crores!!!

You could blame it on the disproportionate power that the Central Government wields. Or even with the discrepancies in vertical (how the centre shares taxes with states) and horizontal (how much of the tax pie each state should receive) devolution of taxes.

And the Karnataka government wants this to change. But will it? Click here to find out.

Another RBI crackdown on fintechs?

Another big news that broke out this week was the RBI (Reserve Bank of India) cracking down on certain fintechs. Yet again! It asked certain payment networks to halt commercial credit card transactions that came under Business Payment Service Providers (BPSP).

For the uninitiated, BPSPs are fintechs that provide businesses with the technology to pay anybody via credit card even if the recipient doesn't have the infrastructure to accept such payments. And it was hot business until the RBI poured cold water on it.

But why did the RBI do this and will this crackdown spell doom for BPSPs? Click here to find out.

That's it from us this week. Also, we've rolled out Money Milestones, a limited-edition personal finance newsletter where we talk about navigating your financial journey. Edition #2 on Renting vs Buying a home goes live tomorrow.

So if you don't want to miss out on it and all the other interesting stuff we write about, click here to subscribe to us. We'll drop one insightful email in your inbox every morning. Have a great weekend!

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