Author: Finance Khabar
New Delhi: For senior citizens who have retired between February and April 2020, the government amid Covid 19 outbreak has relaxed the timeline for investing in senior Citizen Scheme account until June 30, 2020. In accordance with the rules, a retired individual of 55-60 years of age can invest in the SCSS scheme in a case if the investment is made within one month of receiving retirement benefits and the amount is not in excess of the retirement benefits. The finance ministry circular dated May 26, 2020 has allowed for investment until June 30, 2020 in the SCSS and the…
New Delhi: A recent study called ‘Global Consumer Tracker’ conducted by Deloitte showed that 53 percent of the respondents in India said that they were concerned about losing their jobs amid the COVID-19 crisis. However, the health of themselves and their family members occupied their minds more than job security and financial obligations. According to the study, 71 percent of the 1,000 Indians polled said that they are worried about their health in the current situation and a larger percentage of 78 were concerned about their family’s well-being. Nearly half of them, that is 46 percent, said that they were…
MUMBAI: NSRCEL, the startup hub at the Indian Institute of Management Bangalore (IIMB), today announced the list of 25 shortlisted fintech startups for a 15-month extensive program, which could see many of them receiving funding from the CSR fund of ICICI Securities, India’s leading financial services firm. The selected ventures will undergo a 3-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions. Networking events, connects with industry experts, mock-pitches and interaction with investors will be major highlights of the program. Post this, the ventures…
MUMBAI: Zydus Cadila has received final approval from the USFDA to market Atazanavir Capsules (US RLD: Reyataz™ Capsules) in the strengths of 150 mg, 200 mg and 300 mg. Atanazavir, an antiretroviral drug, is used to treat infection of the Human Immunodeficiency Virus (HIV). It is used in combination with other antiretroviral drugs to treat HIV-1 infection. The drug will be manufactured at the group’s manufacturing facility at SEZ, Anmedabad. The group now has 291 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.
MUMBAI: Hyundai Motor India Ltd., country’s first smart mobility solutions provider and largest exporter since inception, announced the launch of World Environment Day Celebration Camp at all operational workshops , to promote the idea of green mobility by integrating several initiatives. Commenting on the initiative, Mr. Tarun Garg, Director – Sales, Marketing & Service, said, “To realize our long term vision of Progress for Humanity, HMIL will continue to improve and strengthen its environmental management practices and establish a safe and pleasant environment leading to a sustainable future. With advanced mobility solutions that respond positively to changing climate requirements, we…
Mumbai:On Friday, the State Bank of India (SBI) reported a 327.1 percent jump in its net profit for the March ended quarter at Rs 3,580.81 from Rs 838.40 in the same period a year ago. Its profit included an exceptional item, that is net profit of Rs 2,731.34 crore on the sale of a certain portion of its stake in its subsidiary SBI Cards & Payment Services Limited during the quarter under review. For the full year, the public sector lender’s net profit stood at Rs 14,488 crore against Rs 862 crore in the previous financial year, the highest ever…
Mumbai:The bulls roared on Friday as headline indices BSE Sensex and Nifty 50 ended on a positive note led by buying in financial and metal stocks. The 30-share Sensex gained 306 points or 0.90 per cent to settle at 34,287, while the Nifty 50 index advanced 113 points or 1.13 per cent to settle just below the 1,150-mark. Nifty PSU Bank index gained the most in today’s trade, up 6.85 per cent led by gains by J&K Bank, Punjab National Bank, Bank of Baroda and State Bank of India. “Our domestic markets are largely mirroring the global counterparts in the…
New Delhi:Maruti Suzuki India Limited, the pioneer of factory-fitted CNG technology for passenger vehicles, achieved highest ever sales of eco-friendly CNG-powered cars in FY 2019-20. The Company sold 106,443 factory-fitted CNG vehicles across India. With green mobility in focus, Maruti Suzuki has witnessed 15.5% CAGR increase in its CNG sales in the past five years. This is a testimony to the Company’s customers accepting technologically advanced, ecofriendly and safe mobility solutions. Maruti Suzuki offers its customers widest options of factory-fitted CNG-powered cars. These include Alto, WagonR, Eeco, Tour S, Ertiga and Super Carry. With the vision to democratize green mobility…
New Delhi: In line with its commitment to support the country in the current scenario, IndiGo operated a charter flight today from Bengaluru to Raipur to transport stranded citizens. The Charter was initiated by the alumni network of NALSAR University of Law, Hyderabad in collaboration with Loving Migrant Workers Network and Samerth Charitable Trust. Adhering to all the precautionary measures including the use of face mask, face shield, gloves and sanitizer on-board, the IndiGo flight 6E 9405 transferred 174 migrant workers and their children to Raipur for the onward journey to their hometowns in Chhattisgarh. NALSAR also facilitated another charter…
New Delhi: V-Guard Industries Limited, India’s leading consumer durable company presents its range of AIKIDO high performance air coolers with long lasting cooling and unmatched aesthetics to beat the sweltering summer heat. AIKIDO, with its higher air flow and extra thick honey-comb cooling pads, cools faster and the 50-85 litre tank capacity along with the ability to run on inverter ensures long, uninterrupted performance for many hours. V-Guard offers AIKIDO range of air coolers across various segments such as desert, window, personal and room coolers. AIKIDO comes with V-Guard’s assurance of “longer lasting product quality” backed by a 2 year…
New Delhi: Dr. Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited, was named EY World Entrepreneur Of The Year™ 2020 at a ground-breaking, virtual award ceremony earlier this morning. Kiran was picked from among 46 award winners from 41 countries and territories vying for the world title. In the award’s 20-year history, Kiran becomes the third EY World Entrepreneur Of The Year Award winner from India. She follows former Indian world title winners Uday Kotak of Kotak Mahindra Bank (2014) and Narayana Murthy of Infosys Technologies Limited (2005). She also becomes the second woman to hold the title, following Olivia Lum…
APL Apollo Tubes Limited (APL Apollo), one of the leading branded structural steel tubes manufacturers, has launched ‘Apollo Fencing Solution’, an unrivaled innovation that gives the much-desired safety fencing to any property, besides adding unmatched beauty and elegance to it. Comprising an array of uniquely designed H-Shaped Fence Post called ‘Apollo Fence’, this low-cost, durable, and exciting product range can be used to replace even the concrete boundary wall. ‘Apollo Fence’ tubes can also be used to support various types of wire or wire mesh. Hence, looking at its broad spectrum of uses and their cost competitiveness, ‘Apollo Fencing Solution’…
Ashok Leyland, the flagship Company of the Hinduja Group and India’s leading commercial vehicle manufacturer, today launched its range of Modular Trucks, AVTR, with i-Gen6 BS-VI technology. The modular platform is a first of its kind in the Indian CV industry with multiple options of axle configurations, loading spans, cabins, suspensions, and drivetrains on a single platform for the entire range of Rigid trucks, Tippers and Tractors in the 18.5T to 55T category. This enables customers to configure vehicles that are best-suited to their applications and business needs. The AVTR platform gives the customers a choice to customise their product…
Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in Bharti Airtel, a Reuters report said citing sources, underscoring the growing attraction of India’s digital economy among American tech giants. If the said plan goes through, Amazon would be acquiring a roughly 5 percent stake based on the current market value of India’s third-largest telecom company with more than 300 million subscribers. Shares of Bharti Airtel closed nearly 6 percent higher at Rs 585 during the day. The talks between Bharti and Amazon are at an early stage and the deal terms could change, or…
MUMBAI: Ashoka University will host a virtual conference on June 5-6 on the future of K-12 education. Titled “Future Of Schools: Overcoming the COVID-19 Challenge and Beyond”, the conference will be addressed by eminent keynote speakers like Nandan Nilekani, Chairman-Infosys and Founder-EkStep Foundation; Anita Karwal, Secretary, Department of School Education and Literacy; Deepak Parekh, Chairman of HDFC; Salman Khan, Founder and CEO, Khan Academy; Bridget T Long, Dean, Harvard Graduate School of Education and Manoj Ahuja, Chairman, CBSE. The two-day online conference will focus on issues brought to the fore by the current situation and evolve solutions to improve the…
New Delhi: On Thursday, the Supreme Court extended till 12 June its earlier order of 15 May that has asked the government to not take any coercive action against companies and employers for violation of Centre’s 29 March circular for payment of full wages to employees for the lockdown period. A bench of Justices Ashok Bhushan, S K Kaul and M R Shah reserved the verdict on a batch of petitions filed by various companies challenging the circular of the Ministry of Home Affairs issued on 29 March asking the employers to pay full wages to the employees during the…
Mumbai: Benchmark indices ended the day lower, breaking a 6-day winning streak, in which the indices gained almost 12 per cent. Global cues were weak, with the European markets trading lower, while the Dow Futures suggested a weakish opening for the US markets. The Sensex ended the day lower by 128 points at 33,981 points, while the Nifty lost 32 points in trade. Banking and finance stocks were the biggest drags on the index with some of the heavyweights like HDFC, ICICI Bank and HDFC Bank falling. Among the Nifty stocks that gained were Vedanta, Zee Entertainment and Tech Mahindra.…
New Delhi: Private sector lender IndusInd Bank today launched a mobile app for opening current account. And using the app customers can open account in just few hours. The facility will come as a great relief amid such times when social distancing and avoiding unnecessary travel should be the norm. So, all proprietorship, partnership, public limited and private companies can open the account using the app. The mobile app Indus Corporate will enable the bank’s executives to verify customers and other business related data in real time. Also by making use of several APIs the app is available for secured…
New Delhi: Due to The COVID-19 outbreak, the Life Insurance Corporation of India (LIC) has said that policyholders can send scanned copies of their policies, KYC documents, discharge forms and so on, via email to their servicing branch to settle maturity and survival benefit claims. As per LIC’s website, these supporting documents to make a claim can be sent via email until 30 June 2020. It also clarified that the facility to submit claims online is an additional option to the existing procedure. How to make LIC claims via email?According to LIC’s website, a policyholder can send e-mail to “claims.bo@licindia.com”…
NEW DELHI: India’s one of the leading tractor manufacturing brand & No.1 exporter from the country, Sonalika Tractors registered phenomenal overall growth (Domestic+Exports) of 18.6% with sale of 9177 tractors in May’20 as compared to 7737 tractors in May’19. The company have strengthened its No.1 tractor exports position from India by registering 25% growth with exports of 1537 tractors in May’20. Speaking on the performance, Mr. Raman Mittal, Executive Director, Sonalika Group, said, “It gives me pleasure that we have registered healthy overall growth of 18.6% in May’20, with 9177 tractors sale, despite the challenging situation. Taking cognizance of the…