CA NARESH KUMAR SANKHLA

Introduction:- The recent demerger of Jio Financial Services (JFSL) from Reliance Industries (RIL) has sent ripples of excitement through the financial sector. With its inclusion in prestigious indices like Nifty50 and BSE Sensex, JFSL's imminent listing has shareholders and investors eagerly awaiting its entry into the stock exchanges. This article delves into the significance of this move, sheds light on the pre-listing valuation, and explores the visionary approach of RIL's Chairman and MD, Mukesh Ambani. Shareholders' Awaited Crediting As anticipation builds for the listing date of JFSL, eligible shareholders of RIL have already received a notable boost. Shares of the newly demerged company have been credited to their demat accounts, creating a palpable sense of anticipation among investors. However, it's important to note that trading in these shares will only commence post-listing on the stock exchanges. The Nifty50 and BSE Sensex Inclusion JFSL's inclusion in

The Reserve Bank of India has decided to withdraw the ₹2000 denomination banknotes from circulation but they will continue to remain as legal tender. It has advised banks to stop issuing ₹2000 denomination banknotes with immediate effect. The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act, 1934, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time. ₹2000 currency note will remain legal tender after 30th September too. RBI expects that 4 month time is enough for people to exchange notes with the banks. Most of the ₹2000 notes that are in circulation will return to banks within the given time frame of 30th September. This is a routine exercise of RBI and people need not panic," news agency ANI quoted citing sources. Rs 2,000 notes were primarily introduced to quickly replenish earlier Rs 500 and Rs 1,000 not

On February 21, 2023, Singapore's PayNow network and India's Unified Payments Interface (UPI) retail payment system were connected to allow for quicker remittances between the two countries. Users from both nations will be able to access faster and more affordable cross-border remittances thanks to this linkage. The facility was introduced by Reserve Bank Governor Shaktikanta Das and Monetary Authority of Singapore Managing Director Ravi Menon through token transactions utilising the UPI-PayNow interface. Prime Ministers Lee Hsien Loong of Singapore and Narendra Modi of India virtually attended the inaugural event.

 Twenty additional cities in 11 states and union territories have received Reliance Jio's 5G service expansion. Jio 5G services are currently accessible in 277 cities thanks to the launch. Jio True 5G services were launched in these 20 cities spread across 11 states and UTs. With this launch, Jio subscribers in 277 cities can begin experiencing the game-changing advantages of Jio True 5G in 2023. The new cities where Jio today debuted its 5G services include Bongaigaon, North Lakhimpur, Sivasagar, Tinsukia (Assam), Bhagalpur, Katihar (Bihar), Mormugao (Goa), Diu (Dadra and Nagar Haveli and Daman and Diu), Gandhidham (Gujarat), Bokaro Steel City, Deoghar, Hazaribag (Jharkhand), Raichur (Karnataka), Satna (Madhya Pradesh), Chandrapur, Ichalkaranji (Maharashtra), Thoubal (Manipur), Faizabad, Firozabad, Muzaffarnagar (Uttar Pradesh).