Author: Finance Khabar

New Delhi: Union Bank of India plans to reduce stake in IndiaFirst Life Insurance to less than 10 percent. A senior officer has given this information. Union Bank of India has got a 30 percent stake in India First Life Insurance due to the large scale merger of banks by the government. Union Bank got this stake due to the merger of Andhra Bank. The merger became effective from April 1. As per the guidelines of the Insurance Regulatory and Development Authority of India (IRDA), a promoter cannot hold more than 10 percent stake in two insurance undertakings simultaneously. Union…

The new BS6 Scorpio offers many accessories such as body-hugging bumpers, fog lamp garnish sets, decals, parking covers, alloy wheels, headrest-mounted DVD touchscreens, scuff plates and carpet mats. The Scorpio features 7-inch touchscreen infotainment system with Bluetooth connectivity, AUX-IN, USB connectivity with GPS navigation, automatic climate control and rear AC vents. Mahindra has started online booking of BS6 model of its popular SUV Scorpio. You can also book 2020 Mahindra Scorpio BS 6 from the company’s official website for 5 thousand rupees. Apart from this new Scorpio, Mahindra is also booking the BS6 models of XUV500, Bolero, KUV100 NXT, XUV300…

New Delhi: The Central Bureau of Investigation (CBI) has detained promoters Kapil and Dheeraj Wadhawan of DHFL. Maharashtra Home Minister Anil Deshmukh sent this information on Sunday. He also said that the Satara Police is extending all kinds of support to the Central Investigation Agency. In fact, the CBI is investigating the case by registering an FIR in the Yes Bank scam case against former bank managing director and CEO Rana Kapoor and others in the bribery case. In this regard, both of them have been arrested from Mahabaleshwar. In its tweet, the state home minister wrote, “The CBI team…

New Delhi: On the Corona virus epidemic crisis, former Reserve Bank of India (RBI) Governor Raghuram Rajan has said that India needs to find a new way to get out of it and speed up the economy. In an interview to The Economic Times, Rajan spoke of slowly starting economic activities to save lives as well as livelihoods. Rajan said that the period after the Corona virus epidemic should not be one of financial instability and fiscal crisis, as it was when the Corona crisis began. He stressed that this would require significant reforms and how we maintain political consensus…

New Delhi: Market capitalization of five of the top 10 Sensex companies increased by Rs 1,63,795.48 crore last week. Reliance Industries benefited the most. Apart from Reliance, the market capitalization of Tata Consultancy Services (TCS), HDFC Bank, Infosys and Kotak Mahindra Bank also increased in the week ended on Friday. Hindustan Unilever Limited, HDFC, Bharti Airtel, ITC and ICICI Bank suffered losses in the market valuation. The market capitalization of Reliance Industries increased by Rs 1,21,904.63 crore to Rs 8,98,499.89 crore during the week. The main reason for this is the announcement of huge investment in Reliance Jio by Facebook…

New Delhi: The quarterly results of companies, developments related to the Corona virus and the decision of the US central bank Federal Reserve on interest rates will decide the direction of the stock markets this week. Analysts have expressed this opinion. Markets will be closed on ‘Maharashtra Day’ on Friday. Analysts said Franklin Templeton Mutual Fund has closed six bond schemes. In such a situation, retail investors will also keep an eye on the impact of this development on the market. Siddharth Khemka, Head of Retail Research, Motilal Oswal Financial Services, said, “Investors are still uncertain about the impact of…

London: Tata Steel’s British unit has sought a relief package from the government to deal with the problems that emerged from the Corona virus crisis. If media reports published in Britain are to be believed, the company is expected to ask for a £ 500 million relief package. Tata Steel owns the UK’s largest steel company, Port Talbot. According to media reports, the company is in touch with the Government of Wales as well as the UK Public Finance Department ‘UK Treasury’. The UK government has introduced the ‘Corona Virus Large Business Intervention Loan Scheme’ (CLBILS) to provide relief to…

New Delhi: Many senior tax officials have suggested that to fight the corona epidemic, the government should increase the super rich tax and also increase the tax on foreign companies. The Indian Revenue Service (IRS) Association has made the proposal to the Central Board of Directors Tax (CBDT) Chairman PC Modi as FORCE (Fiscal Options and Responses to the Covid-19 Epidemic). It has been suggested in the force paper that the government should give relief only to honest taxpayers who file returns on time. Apart from this, the central government has decided to keep dearness allowance unchanged till 30 June…

Royal Enfield Meteor 350 Fireball is expected to come with multiple optional accessories. Very recently, images that appear to be the screenshots of the official configurator have leaked on the web revealing some juicy details. The upcoming Royal Enfield motorcycle might be called the Meteor 350 Fireball. A set of images, courtesy automobili.infiniti, appear to be the screenshots of the bike from the company’s official configurator section that might go LIVE soon after the bike is launched. Apart from revealing the name of the upcoming Thunderbird 350 replacement, the pictures also give an idea of the pricing of the motorcycle.…

Gold has always been a perfect hedge against major events affecting capital markets, currencies, economies globally. Be it the financial crisis of 1970, 2000, 2008 and now 2020 COVID19 crisis, gold has demonstrated solidity. It helps to preserve the value during crisis and this quality validates the stability of gold and its attractiveness over time. With impending global recession, stimulus packages being generously doled out, uncertainties on oil and other asset classes looming; gold can be a part of portfolio fractionally, around 10%. Please remember that gold prices move up and then can languish for a long period of time.…

New Delhi: Jubilant Bhartia Group, in a press statement, said that it has contributed Rupees 10 Crores to PM Cares fund to support Government of India’s initiatives in mitigating the COVID-19 crisis. Two group companies: Jubilant Foodworks Limited (one of the largest food service companies in India and master franchise of Domino’s Pizza and Dunkin’ Donuts) and Jubilant Life Sciences Limited (an integrated global pharmaceuticals and life sciences company) contributed Rupees 5 Crores each to the fund. The contribution of Jubilant Life Sciences Limited, along with all its subsidiaries, includes one day gross salary of its 5300 employees. The Jubilant…

New Delhi: Multibase India Limited had earlier announced regarding suspension of operations of manufacturing unit at Daman due to lockdown guidelines issued by the government pursuant to Covid-19. The operations at company’s manufacturing unit at Daman have partially resumed (with minimum resources) after obtaining formal permissions from the relevant authorities. The operations in the facility are being conducted in due compliance of applicable guidelines.

Kamdhenu Paints, a leading manufacturer of high quality paints is reaching out to its registered painters who are regularly working with company in this time of pandemic. This act of giving back to the society is becoming a rallying point for painters, who are touched by the unique gesture as they are facing hardships during the lockdown. Kamdhenu Paints has set itself a target of reaching 4000 such painters through direct bank transfer to their accounts. Around 1500 painters have so far received financial help in their accounts. Here is what a painter who is in this field for over…

Mumbai: India Ratings and Research (Ind-Ra) has downgraded NTPC BHEL Power Projects Pvt Ltd’s (NBPPL) long-term issuer rating to B-plus from BB-minus with a negative outlook. NBPPL, an equal joint-venture between NTPC and BHEL, was established to undertake engineering, procurement and construction (EPC) contracts for power plants and other infrastructure projects. The company is also engaged in manufacturing of coal handling plants and ash handling plants at Mannavaram in Andhra Pradesh. “NBPPL’s inability to make timely payments to the operational creditors resulting in disorderly winding down of operations and the reduced support from the parents coupled with further deterioration in…

New Delhi: Online payment gateway Razorpay saw digital payment transactions on its platform drop by 30% in 30 days of the Covid-19 induced lockdown. “A significant drop of 30% in online payments in the last 30 days is something we are seeing for the first time after demonetisation.” Harshil Mathur, CEO and co-founder, Razorpay said. The Bengaluru-based payment solutions startup released a report titled ‘The era of rising fintech’ based on transactions held on the Razorpay platform between February 24 and March 23 (before lockdown) vs March 24 and April 23 (during lockdown). People are using online payment platforms to…

Mumbai: In the wake of COVID-19 crisis, GVK MIAL managing Chhatrapati Shivaji Maharaj International Airport (CSMIA) has put together measures to curb the spread of coronavirus. The airport has formulated standard operating procedures for post-lockdown safety of the passengers, which include social distancing, stringent thermal screening, positioning temporary quarantine centres and also continues to sanitise and disinfect the airport to ensure safety and well-being of the passengers when operations resume. “To enable safety precautions at the airport, CSMIA plans to maintain social distancing through distinctive markings at both the terminals, maintaining 1.5 metres distance between each passenger,” GVK MIAL said…

Every business owner of small or big enterprise always has this fear in mind to avoid any legal hassles or never ever run out of cash in their venture. However, in order to avoid these two problems, one must avoid to make any mistakes in setting up their new business, right from the beginning. Here we discuss some points that needs to be kept in mind as one starts their new endeavour: 1) Your business shouldn’t fail to address market needs. Starting a business is cool. Thinking about an innovative idea is also fine. But if your business is not…

Most startups take a lot of time to sustain. Yes, small, self-funded startups are a big thing than it is considered. Because it is created from scratch. As coronavirus lockdown is going on in many states all over India, you would have ample time every day that can be utilized to start your own venture. Why is this the right time? Because coronavirus teaches that nothing in this world is going to live forever. If you have a day job and think about starting your business after settling down in your life, then you are wrong. That time is not…

Running a successful startup is no joke. At the same, managing employees with transparency and following business ethics is not everyone’s cup of tea. If you are being criticized for your managerial and leadership skills by your friends or ex-employees, then time to equip yourself with the much-needed leadership skills in this coronavirus lockdown. 1) Be confident and positive:Coronavirus may have killed many dreams and aspirations of your employees. Considering the effects of lockdown is huge, they may also feel they will lose their job sooner or later. You need to be confident about your team and the business ideas.…

Coronavirus has impacted the economy in the most negative way. Many companies have laid off their employees or have asked the employees to take a salary cut. Uncertain future, outdated business model and inexperienced crisis management are also some of the causes for the downward trend of jobs. As they say, there lies an opportunity in every crisis. Similarly, coronavirus has led to creation of ample of work opportunities in e-commerce sector. So, why lose hope and sit idle at home when you can think about venturing into e-commerce startup space? Here are some tips to help you start a…