Author: Finance Khabar

New Delhi: The appointment comes into effect from September 5, the company said in a regulatory filing. “Supratim Dutta has been appointed as the Chief Financial Officer of the Company with effect from 5th September, 2020, in place of R. Tandon,” the filing said on Saturday evening. Dutta, joined ITC on November 1, 1990, soon after qualifying as a Chartered Accountant and Cost Accountant. As per the filing, he has wide ranging experience in the company for nearly 30 years, covering various aspects of finance including planning, treasury, M&A, accounting, taxation, IT, investor relations and business strategy. He has also…

New Delhi:The government is mulling setting up at least one electric vehicle (EV) charging kiosk each at nearly 69,000 petrol pumps across the country to induce people to go for electric mobility. Besides, the government is also thinking of making it compulsory to install EV charging kiosks at all Company-Owned, Company-Operated (COCO) petrol pumps of state refiners. In a review meeting on EV charging infrastructure, Power Minister R K Singh suggested oil ministry top officials that “they may issue an order for their oil marketing companies (OMCs) under their administrative control for setting up charging kiosks at all COCO petrol…

Airtel is reported to revise data benefits for all its existing broadband customers to further strengthen itself in competition with Jio Fiber. Airtel’s broadband service is called Airtel Xstream Fiber. Airtel has 4 broadbrand plans – Basic, Entertainment, Premium and VIP. Of these, only VIP plan comes with unlimited data benefits. Limited data is offered on other plans. To avail unlimited data in any Airtel broadband plan other than VIP, the user has to pay an additional amount of Rs 299 per month. The basic plan of Airtel Extreme Fiber comes at Rs 799, with which 150GB of data is…

New Delhi: India has risen 158 places in the World Bank’s Ease of Doing Business Report in three years. With this, the country has come at number 27 among the comfortable countries for businessmen. This information was given by Union Minister Hardeep Singh Puri during a press conference on Saturday. State Business Reform Action Plan 2019 Ranking was also released by the government during the press conference. It was released by Finance Minister Nirmala Sitharaman, holding the number one position in the Ease of Doing Business rankings of the states of Andhra Pradesh and the Union Territories, while Uttar Pradesh…

New Delhi: Speaking at the 60th Annual Session id ACMA, which was held virtually on Saturday, Kant said the move will aide the country in reducing imports. “There is also need for new synergies such as with IT industry in the areas of power electronics,” he said. “India must look at using the first mover advantage for producing all components for EVs, thus driving towards the path of being a future global leader.” According to Kant, with EV battery prices set to go below $100, there is a huge opportunity in the sector to localise indigenising EVs. “The future course…

New Delhi: These guidelines will be called the Central Consumer Protection Authority (Prevention of Misleading Advertisements and Necessary Due Diligence for Endorsement of Advertisements) Guidelines, 2020. These guidelines cover all advertising/marketing communications regardless of form, format or medium. They are applicable to the manufacturer/service provider whose products/services are subjects of the advertising/marketing communications, as well as to advertisement agency and endorser (wherever applicable) of the product/service. The guidelines said that an endorsement is required to take legal opinion or opinion from an advertising self-regulatory organisation which would be considered as “due diligence”. Every endorser endorsing a product or service shall…

New Delhi: Uttar Pradesh and Telangana were placed at the second and third place, respectively in the ease of doing business for 2019, prepared by the Department for Promotion of Industry and Internal Trade (DPIIT). While releasing the report, Sitharaman said the ranking makes states and UTs a better place to do business. The parameters include areas such as construction permit, labour regulation, environmental registration, access to information, land availability and single-window system. The DPIIT conducts the exercise for all states/UTs under the Business Reform Action Plan (BRAP). In the last ranking released in July 2018, Andhra Pradesh had topped…

New Delhi: Piyush Goyal-led Indian Railways has decided to run 80 IRCTC special trains from September 12. Booking or reservation for these new IRCTC special trains will start from 10 September. Before these new special trains, Indian Railways is already running 230 IRCTC special trains. Earlier, Indian Railways started IRCTC special trains for the first time in May. In May, the Railways brought 30 AC IRCTC Special Train Services and 200 Special Train Services in June. Since that time, the Indian Railways has been monitoring the demand for these 230 IRCTC special trains and the number of passengers in it.…

New Delhi: India’s first bullet train project is set to be delayed by around five years, stuck as it is on multiple fronts – from low participation by Japanese companies to tenders being cancelled because of steep rates quoted by bidders. The Mumbai-Ahmedabad bullet train project may be delayed by five years. The project, considered to be very close to PM Narendra Modi’s heart due to reasons like low share of Japanese companies, tenders canceled due to inappropriate rate of bidders for auction, delayed land acquisition, underground project including corona epidemic Can be fulfilled by According to the report of…

New Delhi: State-owned Bharat Petroleum Corp Ltd (BPCL) has offered its employees stock options at one-third of the market price as the company looks to reward staff ahead of its privatisation. The board of BPCL on Friday “approved the proposed Employee Stock Purchase Scheme (ESPS) to the specified employees through the trust mechanism, subject to the approval of the shareholders”, the company said in a regulatory filing. While BPCL did not give details, a source with direct knowledge of the development said ‘BPCL Trust for Investment in Shares’ holds around 9.33 per cent stake of the company’s paid-up share capital.…

Southampton: The airline, which had already announced around 3,500 job losses, completed the rescue deal with major shareholders and creditors on Friday after various court approvals. Chief Executive Shai Weiss said that while the deal was a major step forward towards survival, more action was needed. “After the sacrifices so many of our people have made, further reducing the number of people we employ is heart-breaking but essential for survival,” he said. Airlines across the world have been slashing jobs and seeking funds after the COVID-19 pandemic grounded most flights earlier this year and demand has been slow to recover…

Seattle: The Seattle-based tech giant announced on Friday that it was expanding its workforce footprint in Bellevue, with new office space plans that will host a total of 25,000 employees in the next several years, the Seattle Times reports. That’s the same number of employees promised for Arlington, Virginia, by 2030. The Washington DC-area city won Amazon’s closely-watched HQ2 sweepstakes in 2018 by offering USD 573 million in cash grants and tax incentives. Amazon in exchange pledged to bring 25,000 new jobs that will pay on average USD 150,000 a year. Bellevue, meanwhile, hasn’t provided tax breaks or financial incentives…

New Delhi: At a time when the Centre is facing difficulties to disburse GST compensation to states on the low revenue collection, the Economic Advisory Council of the 15th Finance Commission has advised the latter to treat the financial year 2020-21 and 2021-22 differently in comparison to the next four years. The commission is to give recommendations for devolution of taxes and other fiscal matters over the next five years starting April 1, 2020. An official statement said that during an online meeting of the advisory council with the commission, the council was of the view that the Finance Commission…

New Delhi: Taking cognisance of a bank employee being manhandled recently, the finance ministry has assured that the government is committed to the safety of bankers and swift action will be taken against the person involved in the incident. The incident of manhandling of a banker of State Bank of India (SBI) was reported from Wardha district of Maharashtra earlier this week. Earlier in June, a police constable in Surat, Gujarat allegedly manhandled a female employee of Canara Bank. Santoshi Kumari of Saroli branch of Canara Bank was allegedly abused and pushed for not being able to print passbook as…

New Delhi: DEA cited the uptick in manufacturing purchasing managers’ index, auto sales, e-way bills among others to show that the country is witnessing a recovery. It noted that as countries unlocked in the quarter starting in July, recovery is underway globally. “India, too, is witnessing a sharp V-shaped recovery. India’s manufacturing purchasing managers’ index (PMI), at 52.2, has moved into expansionary zone in August for the first time since the lockdown, presenting much required recovery prospects for the manufacturing sector,” the 33-page report said. It added that V-shaped pattern of recovery is seen in the high-frequency indicators including auto…

New Delhi: The development comes after the Supreme Court’s September 1 verdict on the Adjusted Gross Revenue (AGR) issue, wherein the top court gave a 10-year timeline to the telecom companies to repay their dues, with an upfront payment of 10 per cent by March 31, 2021. In a regulatory filing, the company said its board has approved raising of funds through issue of equity shares or securities convertible into equity shares, GDR, ADR, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and warrants entitling the warrant holders to apply for equity shares, or a combination…

New Delhi: Auto industry organization Siam said on Friday that manufacturers are not in a position to invest to implement the government’s new standards, as the industry is going through a very difficult period. The Society of Indian Automobile Manufacturers (SIAM) also said that government assistance is needed to push towards the targets set under the Automotive Mission Plan 2026 (AMP 2026). SIAM Chairman Rajan Vadhera said at the organization’s annual session here that the government has to invest a lot to implement the upcoming new standards and the industry is not earning due to the decrease in consumer demand.…

New Delhi: Corona epidemic has broken the back of the country’s retail business. Indian retailers have suffered a loss of Rs 19 lakh crore during the last 5 months. 3 months after the opening of the dockdown, traders across the country are facing a huge economic crisis. The Confederation of All India Traders (CAIT), an association of traders, says that if the urgent steps are not taken immediately to handle the retail trade, around 20% of shops across the country will have to be closed, which could also lead to large unemployment. is. CAT has demanded relief from interest and…

New Delhi: According to the report, the job listings for work from home roles within the education sector have also gone up by three and half-fold post-pandemic. Over 1,000 new jobs have been added to the Naukri platform in the education/teaching sector in July this year. Top six metros contribute to 55 per cent of jobs in the sector led by Delhi/NCR and Bengaluru. “The growth of ed-tech platforms and increased hiring by these players indicates major reforms in the sector,” Pawan Goyal, Chief Business Officer at Naukri.com said in a statement. Consequently, the platform also analysed recruiters search data…

New Delhi: In a letter to the BSNL Chairman P.K. Purwar, the employees union has sought for an urgent meeting of the unions and associations with the Chairman through video conferencing, to discuss about the gainful utilisation of the contract workers. “Even if the management considers that a section of the contract workers are redundant, they can be gainfully utilised in the marketing activities, to increase the revenue collection of the company. In view of the foregoing, we request you to kindly revisit all your earlier decisions to retrench the contract workers,” the letter said. In its hard-hitting letter, the…