Author: Finance Khabar

We are currently living in a very uncertain time. Due to the outbreak of coronavirus, many states and cities are under a complete lockdown. Many businesses have shutdown their shops while some are managing their operations through online medium. Social distancing is the call of the time now. Instead of earning more and more, the focus now is on having a good health and taking precaution to curb the spread of COVID-19. However, with no proper income and anxiety over finances, one has to ensure to maintain a good financial health as well. Here we discuss some personal finance tips…

The Federal Reserve on Thursday announced a bevy of new moves aimed at getting another $2.3 trillion of financing into businesses and revenue-pinched governments. Stock futures jumped after the announcement, which came moments after the government reported that 6.6 million new jobless claims were filed last week. Among the Fed’s measures were details regarding its Main Street business lending program and several other initiatives it is undertaking to backstop the reeling U.S. economy. The central bank also provided more detail on its market interventions, including plans to buy corporate bonds both at an investment-grade level as well as high-yield, or…

New Delhi: Industrial output in February grew at 4.5 per cent as against a 0.2 per cent a year earlier, data released by the government on Thursday showed. The growth was 2 per cent in the previous month. “The quick estimates of Index of Industrial Production (IIP) with base 2011-12 for February stands at 133.3, which is 4.5 per cent higher as compared to the level in February 2019,” according to an official statement.The cumulative growth for the period April-February 2019-20 over the corresponding period of the previous year stands at 0.9 per cent, it said. The numbers come amid…

– Applicable FOR ALL VODAFONE IDEA PREPAID customers – Recharge for some one and get a cash back amount in the next recharge Meerut:   Vodafone Idea today launched a unique initiative #RechargeforGood with  the aim to help  digitally unconnected customers remain connected during the current times. The program enables every Vodafone and Idea customer to recharge for a friend, family or anyone who doesn’t know how to recharge online or doesn’t have access to the  internet. This good deed will be rewarded with a cashback OF UPTO 6% on recharges done by an existing Vodafone or Idea customer for…

Mumbai: Equity benchmark indices closed over 4 per cent higher on Thursday amid strong global cues and expectations of further stimulus measures from the government as well as central bankers across the world. With Wall Street’s overnight rally, investors hoped that coronavirus pandemic in the United States was nearing its peak. The BSE S&P Sensex closed 1,266 points or 4.23 per cent higher at 31,160 while the Nifty 50 ticked up by 363 points or 4.15 per cent at 9,112. All sectoral indices at the National Stock Exchange were in the green with Nifty auto up by 10.5 per cent,…

Mumbai: Tata Power has been conferred with the Edison Award under social innovation category and social energy solutions sub-category. The Edison Awards, named after Thomas Alva Edison, recognises and honours the world’s best innovations and innovators. The judging panel was comprised of more than 3,000 professionals from the fields of product development, design, engineering, science, marketing and education, including professional organisations representing a wide variety of industries and disciplines. Tata Power got the awards for its ‘Club Enerji #Switchoff2SwitchOn’ campaign. The sustainability initiative has brought in 533 participating schools across India that have saved 29.8 million units of power since…

Swaraj Tractors, a part of the USD 20.7 billion Mahindra Group, has come forward to support the farming community in the midst of the prevailing Coronavirus pandemic. The company is offering a standby tractor during the harvesting season which will help farmers during these this critical time. The company has launched a slew of initiatives under its ‘Aapke saath hai Aapka Swaraj’ campaign. Delivering on its promise of ‘Solid Bharosa’, Swaraj is offering a 24×7 assistance to its customers through its call center. Customers can contact the toll free number of 18004250735 for information related to service and spare parts.…

New Delhi: Aurobindo Pharma Limited is pleased to announce that the Company has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fluoxetine Tablets, 10 mg and 20 mg. Fluoxetine tablets are generic version of Eli Lilly’s Prozac® tablets. The product will be launched in April 2020. The approved product has an estimated market size of US$ 42 million for the twelve months ending February 2020, according to IQVIA. Fluoxetine is indicated for the acute and maintenance treatment of major depressive disorder in adult patients and in pediatric patients aged 8 to 18…

Mumbai: Today, many NGO workers like Shyamrao are providing relief materials to countless people at a huge personal risk to their life and health. Numerous business groups have come forward with generous contributions to help India’s poor in every state to help people cope through the lockdown period. NGO management teams who are coordinating these efforts are finding it tough because they can’t physically monitor the relief work and operating at very low team strength. “At our NGO, we were working with many self-help groups to facilitate employment, education for single women. After the lockdown was announced, we are providing…

Mumbai: Crisil on Thursday reaffirmed its AAA-stable and A1-plus ratings on the debt programmes and bank facilities of Mahindra and Mahindra (M&M) Ltd. The ratings continue to reflect M&M’s leadership in the Indian tractor industry and healthy market position in light commercial vehicles, it said. The ratings also factor in a strong financial risk profile, supported by a robust balance sheet with low leverage and high financial flexibility. These strengths are partially offset by exposure to cyclicality inherent in the farm equipment (tractor) and automotive (auto) segments, exposure to risks pertaining to acquisitions and investments in subsidiaries and joint ventures,…

Mumbai: Fast-moving consumer goods major Marico expects a decline in revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) during the fourth quarter of FY20 due to national lockdown to contain the outbreak of COVID-19. The production is currently suspended at the company’s manufacturing units. The distribution network has also been significantly impacted due to the lack of manpower at each point. “We are focusing on the movement of essential food and grocery items to the consumers subject to necessary approvals from local government authorities and taking all possible efforts to ensure uninterrupted supplies of essential products to our…

New Delhi: Mother Dairy, one of the leading dairy company in Delhi-NCR and its fruits and vegetable brand ‘Safal’ continue to ensure uninterrupted supply to people even as the country continues to reel under nationwide lockdown. Sangram Choudhary, Managing Director, Mother Dairy Fruit and Vegetable Pvt. Ltd. said that the company procures milk from 25,000 villages from 125 districts across the country. He said that there was panic buying in the beginning in the first few days of lockdown but things returned to normal later on.”Mother Dairy has a big network. We collect milk from 10 lakh farmers across several…

New Delhi: Are you an HDFC Bank customer and finding it difficult to withdraw cash from ATMs during the current nationwide lockdown? If yes, here’s good news for you. HDFC Bank has now deployed Mobile Automated Teller Machines (ATMs) to assist customers during the lockdown. These ATMs will eliminate the need to move out of one’s locality to withdraw cash, this facility will operate between 10 am and 5 pm. HDFC Bank’s mobile van carrying the ATM has been successfully piloted in Mumbai and Noida today, with plans to extend the service to the rest of the country soon. The…

New Delhi: The government has taken a major decision on Wednesday to give relief to the countrymen and businessmen who are struggling with the financial crisis from the nationwide lockdown by the central government to prevent the corona virus epidemic. The government has decided to immediately issue all income tax refunds up to Rs 5 lakh to all business entities and individuals. Along with this all refunds pending in GST and Customs Department will also be issued. A spokesman for the Finance Ministry said that the decision to issue pending refunds of up to Rs 5 lakh would immediately benefit…

New Delhi : Industry bodies FICCI and ASSOCHAM on Wednesday called for phased opening up of the economy and re-starting growth with a stimulus package of 200 billion to 300 billion dollars (about Rs 15 lakh crore to 22 lakh crore). COVID-19 is a global health and economic crisis with an abrupt halt of activity across nations which has deeply slowed down consumption, said FICCI’s Secretary General Dilip Chenoy. There is a massive loss of employment in certain sectors like hospitality, aviation, tourism, media and entertainment. A sharp fall in equity markets is combined with higher default risk and possibility…

New Delhi : The PHD Chamber of Commerce and Industry on Wednesday suggested a stimulus package of Rs 11 lakh crore from the government to mitigate the impact of pandemic COVID-19 on economy, trade and industry. “We expect a significant fiscal stimulus of at least 5 per cent of GDP or Rs 11 lakh crore,” said its President D K Aggarwal. “The government has already provided a stimulus of Rs 2 lakh crore. Therefore, our expectation is for the remaining Rs 9 lakh crore in terms of various relief measures and benefits to India’s trade and industry,” he said in…

Mumbai: Equity benchmark indices closed half a per cent lower in Wednesday’s volatile session with banking stocks sliding in the last hour amid weak global cues. The BSE S&P Sensex closed 173 points lower at 29,894 while the Nifty 50 edged lower by 43 points to 8,749. Sectoral indices at the National Stock Exchange were mixed with Nifty realty down by 1.3 per cent and bank by 0.6 per cent. Among stocks, ICICI Bank dipped by 2.6 per cent to Rs 317.65 per share while State Bank of India was down by 1.9 per cent. Tata Consultancy Services and Titan…

Mumbai: The Rupee on Wednesday heavily down by 74 paise to close at 76.37, one month low against the USD tracking a decline in other Asian currencies, dealer informed. The domestic unit fell by 21 paise to 75.84 in opening trade. Till the end of the session it lost by 74 paise to finish at 76.37 as compared to its last close.The Indian currency was seen under pressure on higher crude oil prices and weak global risk appetite too weighed on the Rupee.

New Delhi : The Confederation of Indian Industry (CII) has called for a fiscal support package during the current financial year 2020-21 limited to two per cent of the gross domestic product (GDP) in addition to the Rs 1.7 lakh crore provided under the Pradhan Mantri Garib Kalyan Yojana. The industry body undertook a massive contact programme with over 8,000 member companies directly and indirectly to assess the issues being faced by these organisations and the overall economic impact of coronavirus pandemic and the consequent shutdown. “It is our considered judgement that the impact is severely adverse and the best…

Geneva: The International Air Transport Association (IATA) has released a new analysis showing that some 25 million jobs are at risk of disappearing with plummeting demand for air travel amid the COVID-19 crisis. Globally, the livelihoods of some 65.5 million people are dependent on the aviation industry, including sectors such as travel and tourism. Among these are 2.7 million airline jobs. In a scenario of severe travel restrictions lasting for three months, IATA research calculates that 25 million jobs in aviation and related sectors are endangered across the world: 11.2 million jobs in the Asia Pacific, 5.6 million jobs in…