Today’s Latest Business News, Finance and Share Market News at 5:30 pm on 2nd November 2022

"You are listening to the Expresso Business Update. Here is the latest news from the world of Indian and International business brought to you by The Indian Express and The Financial Express. " Let's begin. RBI Governor Shaktikanta Das on Wednesday said the global economy is going through a period of churning, He, however, expressed confidence in the Indian economy saying that private consumption, especially urban demand has been quite healthy. “With monetary policy actions and stances undergoing a regime shift in advanced economies, financial conditions have tightened across markets and accentuated financial stability risks. In an uncertain environment, the Indian economy has been growing steadily drawing strength from its macroeconomic indicators, buffers,” Das said in his inaugural address at the FICCI Banking Conference-FIBAC 2022, adding that considerable improvement is seen in sales of white goods in the festive season. Talking about inflation, Shaktikanta Das said that RBI’s constant endeavour is to keep “Arjun’s eye” on inflation. He noted that RBI is closely monitoring inflation trends, impact of previous actions. Meanwhile, Noida-based lender Shivalik Small Finance Bank on Wednesday announced that it has raised an equity round of Rs 111 crores led by venture capital firms Accel and Quona Capital. Bharti AXA Life Insurance also participated in the round. The company said it plans to deploy the funding to enhance its tech stack, strengthen its team, and deepen partnerships “as it moves to become the go-to bank for Indian MSMEs.” Shivalik Small Finance Bank is the first small finance bank in India that transitioned from an urban cooperative bank with 23 years of operations in offering retail banking products and services, it said in a statement. Shivalik has more than 5.6 lakh unique customers and operates through 46 branches and 21 exclusive business correspondent branches in northern India. ON to IPOs. Fusion Micro Finance IPO opened for subscription on Wednesday, and will conclude on 4 November. The non-banking finance company has fixed the IPO price band at Rs 350-368 apiece. The Rs 1,104 crore IPO comprises issuance of fresh equity shares worth Rs 600 crore and an offer for sale worth Rs 504 crore of 13,695,466 equity shares by promoters and existing shareholders. Half of the issue size has been reserved for qualified institutional investors, 35% for retail investors and the remaining 15% for non-institutional investors. The minimum bid is that of 40 equity shares and then in multiples thereof. The face value of each share would be Rs 10. Moving on. Even as the world is reeling under economic uncertainty, the Indian economy’s fundamentals are strong and the Indian economy clearly is attractive for investors across, said Finance Minister Nirmala Sitharaman. “There is a global situation of war, especially from countries which are a source of raw materials, whether it is fuel, fertilizers or food related raw materials. While this is causing a lot of insecurity in the world and while the challenges continue, India is being seen as an island of certain level of calm,” she said while speaking at the inaugural function of Invest Karnataka, 2022 Summit on Wednesday. Talking about the impact of the global political situation affecting the raw material imports, etc., Sitharaman said that the countries are now readjusting themselves to source these materials from different parts of the world. In another major update, Twitter Inc will charge $8 a month for its Blue service, which includes its sought-after “verified” badge, new boss Elon Musk said on Tuesday as he seeks to boost subscriptions and make the social media network less reliant on ads .”Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit. Power to the people! Blue for $8/month,” Musk said in a tweet, adding that the price will be adjusted by “country proportionate to purchasing power parity.” A blue check mark next to a person’s user name on the social media platform means Twitter has confirmed that the account belongs to the person or company claiming it. Twitter is currently free for most users. Billionaire Musk bought Twitter for $44 billion last week. Since the takeover, he has moved quickly to put his stamp on the company, firing its previous chief and other top officials. And at last, WhatsApp has dropped the ability to send and open view once messages on the desktop. When trying to access a view once message on a desktop, it now shows a message reading it can be opened on a phone for added privacy. In simple words, the view once the message is no longer supported on the desktop. According to WaBetaInfo, a website that closely follows all WhatsApp updates, this change is gradually rolling out to all users and could take some time for a complete rollout. According to the website, this move from WhatsApp is to stay consistent with the screenshot blocking feature which adds an extra layer of security when sending view once messages as these messages cannot be saved through screenshots or a video recording. You were listening to the Expresso Business Update by The Indian Express and The Financial Express. Ask your digital assistant device to play the latest business news from the Indian Express and stay up to date with the happenings in the finance and business stories. Click here to listen to today morning's bulletin