December 31, 2020 - Finance Khabar

Nifty crosses 14000 for the first time

By Finance KhabarIn Equities, FeaturedPosted December 31, 2020

On the last day of the year, the stock market set a new record. In today's trade, the Nifty crossed 14000 for the first time. At the same time, the Sensex also crossed the 47850 level. The stock market started in the realm, but later the buying increased. There was...

RBI to conduct simultaneous sale-purchase of govt securities next week

By Finance KhabarIn Banks, FeaturedPosted December 31, 2020

RBI postpones changes in auto debit-credit for 6 months

Mumbai: Simultaneous purchase and sale of G-sec under OMOs, popularly known as Operation Twist, involves purchasing the securities of longer maturities and selling an equal value of securities of shorter maturities. On January 7, the RBI will purchase three government securities (G-Sec) of different maturity dates aggregating to Rs 10,000...

India’s eight core industries’ production loses steam, down 2.6 pc in Nov

By Finance KhabarIn Featured, OthersPosted December 31, 2020

New Delhi: The production of India's eight major industries remained flat on a year-on-year basis during January 2021. The Index of Eight Core Industries' reading for last month showed a rise of just 0.1 per cent in output from an expansion of 2.2 per cent in the same month last year. On a sequential basis, the output of eight major industries had expanded by 0.2 per cent in December 2020. ECI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). These industries comprise coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity. On a sector specific basis, the output of coal, which has a weight of 10.33 per cent in the index, showed a decline of (-) 1.8 per cent in January 2021 over the same month of the previous year. Similarly, the output of refinery products, which has the highest weightage of 28.04, declined 2.6 per cent compared to the corresponding month of the last fiscal. However, electricity generation, which has the second highest weightage of 19.85, increased by 5.1 per cent, whereas the steel production was up 2.6 per cent last month.

New Delhi: The Index of Eight Core Industries' reading in November showed a contraction greater than that of (-) 0.9 per cent registered in October. Though not comparable, on a YoY basis, the growth rate stood at 0.7 per cent in November 2019. ECI index comprises of 40.27 per cent...

Government will now credit 8.5 percent interest in EPF account

By Finance KhabarIn Featured, Fixed DepositPosted December 31, 2020

New Delhi: Net new enrolments with retirement fund body EPFO grew by 27.79 per cent to 13.36 lakh in January compared to the same month in 2020, according to the payroll data released on Saturday, providing a perspective on formal sector employment amid the coronavirus pandemic. "The provisional payroll data of EPFO published on 20th March, 2021, highlights a growing trend of subscriber base with the addition of 13.36 lakh net subscribers during the month of January 2021," a labour ministry statement said. It stated that the data reflects growth of 24 per cent for the month of January 2021 over December 2020. "Year-on-year comparison of payroll data indicates an increase of 27.79 per cent in net subscribers’ as compared to the corresponding period last year (January 2020), indicating return to the pre-Covid levels of subscriber growth for EPFO," the ministry stated. Despite COVID-19 pandemic, the EPFO added around 62.49 lakh subscribers during the first ten months of 2020-21, the data showed. During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal, the data showed.

New Delhi: A large number of members of the Employees Provident Fund Organisation (EPFO) would be able to see their updated EPF accounts with credit of 8.5 per cent rate of interest for 2019-20, a senior official told media. The official further informed that the labour ministry has already sent...

FICCI seeks Punjab govt’s intervention against attack on Jio’s mobile towers

By Finance KhabarIn Featured, OthersPosted December 31, 2020

New Delhi: In a letter to Punjab Chief Secretary, Vini Mahajan, Rajinder Gupta, Chairman, Trident Group and Chairman FICCI Regional Advisory Council said that out of the 9,000 mobile towers of Reliance Jio, power supply to 1,800 towers have been cut off by the farmers' groups protesting against the farm...