Author: Finance Khabar

Startup is nothing but an initial set-up with a group of people trying to put their entire efforts to make an idea work. As per research, 90% of startups fail. Shocked? But that’s the fact. Many startups fail due to hell lot of reasons. Here I list only some of the common reasons for startup failure: 1) Lack of a good team:A team can make or break a company. Many startup founders don’t realize the same and hire and fire their employees based on their requirements. This leads to a lot of bad reputation of the startup in the market.…

Mumbai: Suburban Diagnostics has been appointed by the Indian Council of Medical Research (ICMR), Department of Health Research as one of the private labs to test for COVID-19. Suburban Diagnostics is accredited by NABL and CAP and is ready to serve the community in this crisis. With utmost credibility and all requisite lab provisions in place, Suburban Diagnostics is ensuring reporting within 24 hours, by running two batches daily at 10 am and 2 pm. Moreover, their PCR facility is equipped with Class 2 Biosafety cabinets with BSC level 2 compliance, a unidirectional workflow with a five-room concept with a…

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Rs 1,340 crore recapitalisation of regional rural banks to improve their capital to risk-weighted assets ratio. Union Minister Prakash Javadekar said the CCEA approved the utilisation of Rs 670 crore as the Central government’s share for the scheme. The decision will provide minimum regulatory capital to regional rural banks for another year beyond 2019-20, that is up to 2020-21 for those which are unable to maintain minimum capital to risk-weighted assets ratio (CRAR) of 9 per cent as per regulatory norms prescribed by the Reserve Bank of India…

Singapore: Moody’s Investors Service on Wednesday downgraded Delhi International Airport Ltd’s (DIAL’s) corporate family rating and senior secured ratings to Ba3 from Ba2. At the same time, Moody’s downgraded DIAL’s baseline credit assessment to Ba3 from Ba2. The ratings have also been placed on review for further downgrade. The outlook has been changed to rating under review from stable. “The rating action reflects the worsening coronavirus outbreak and the increasingly stringent travel restrictions imposed both in India and globally, including ongoing measures introduced by the government,” said Moody’s. “The downgrade to Ba3 reflects our expectation of a sharp decline in…

Mumbai: : Shares of Yes Bank dropped by 14.41 per cent on Wednesday afternoon even as ICRA upgraded its commercial papers and placed them on rating watch with developing implications. ICRA said the ratings upgrade factors in removal of the moratorium from March 18 which was earlier imposed on Yes Bank Ltd (YBL) by the Central government, thereby restricting payments to its depositors and creditors. The government has also approved the reconstruction scheme for the bank, based on which YBL has received equity of Rs 10,000 crore from State Bank of India (SBI) which is now holding 48.2 per cent…

Mumbai: Equity benchmark indices closed nearly 7 per cent higher on Wednesday as Asian shares extended a rally after Wall Street’s strong rebound overnight. Reports said the US Senate leaders had reached deal with the White House on a two trillion dollar coronavirus stimulus package. The BSE S&P Sensex closed 1,862 points or 6.98 per cent higher at 28,536 while the Nifty 50 ticked up by 497 points or 6.37 per cent to 8,298. All sectoral indices at the National Stock Exchange were in the green with Nifty financial service gaining by a whopping 9.7 per cent, private bank by…

Gurugram: Walmart India has promoted Sameer Aggarwal to the position of Chief Executive Officer for its Best Price wholesale stores from April 1. He will report directly to Dirk Van den Berghe, Executive Vice President and Regional CEO of Asia and Global Sourcing. Aggarwal is taking over the CEO position from Krish Iyer who is retiring from full-time management and will assume the role of an advisor to Best Price after eight years with the company. Aggarwal joined Walmart India in April 2018 as Executive Vice President overseeing strategy and administration and was promoted to Deputy CEO in January 2020.…

Google’s temporary staff whose contracts were supposed to end during the height of the coronavirus pandemic, will now be extended an additional 60 days. The company said contractors who had assignments scheduled to end during the height of the COVID-19 pandemic will be automatically extended two months, according to an internal document viewed by CNBC. This also includes assignments that have reached their maximum length, “where legally allowed,” the document stated.

New Delhi: Healthians, India’s largest doorstep health test provider, on Tuesday announced that the company has launched a chatbot to spread awareness about the virus, where individuals can ask their queries and receive verified information. The chatbot will disseminate accurate information about the coronavirus to the masses and dispel myths and doubts. The chatbot is simple to use and has been customized keeping for Indian audience. “We have received many queries from customers calling and panicking with minor symptoms and wanted to consult a doctor or get tested. We quickly responded to the situation by making it easy for people…

Mumbai : Vakrangee Kendra outlets are one-stop shops providing key essential services such as banking services, ATM services, online pharmacy, telemedicine health services including unlimited tele & video consultation with expert doctors & home blood test facility and online shopping of groceries. In the light of the outbreak of COVID-19 pandemic, under the Epidemic Diseases Act, 1987 that was invoked by the government, all non-essential service providers/ officers need to follow restraint and remain closed. However, establishments providing essential services are excluded such as providers of services such as banking and ATM, drinking water & sewerage, food & groceries, hospitals,…

Mumbai: After a Monday mayhem, equity benchmark indices extended early gains in choppy trade on Tuesday amid some government relaxations on statutory and regulatory compliance-related issues. The market sentiment improved after Finance Minister Nirmala Sitharaman said a fiscal package will be announced soon to offset the negative impact of coronavirus on the Indian economy. At the closing bell, the BSE S&P Sensex was up by 693 points to 26,674 while the Nifty 50 edged higher by 191 points to 7,801. Except for Nifty realty, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT…

ITR-GST return filing date extended, withdraw money from ATMs of any bank free New Delhi: Finance Minister Nirmala Sitharaman on Tuesday stated that the government is preparing an economic package which will be announced soon in a bid to tackle the economic fallout affecting the Indian economy due to coronavirus pandemic. She said the last date for filing Income Tax return for the year 2018-19 has been extended from March 31 to June 30, 2020. “Work is going on and we are very close to coming up with an economic package that will be announced sooner rather than later,” she…

New Delhi: With new studies pointing to chlorination of water as one of the potential ways to combat novel Coranavirus COVID-19, Alkali Manufacturers Association of India (AMAI) has kicked off an outreach programme beginning World Water Day (22nd March) aimed at raising awareness on chlorination of drinking water for disinfection. The campaign will entail close liaison with Public Health Engineering Departments (PHEDs) and municipal bodies across different States in the country. AMAI is the august body of manufacturers engaged in production of chemicals such as Caustic Soda and Soda Ash with Chlorine as a by-product. “Our confidence stems from the…

Bengaluru: Cashify, India’s leading re-commerce marketplace that sells and buys used electronic gadgets, has opened its new store in Rajaji Nagar, Bengaluru spread across approximately 400 square feet. This is Cashify’s third store in the city, the other two being located in Frazer Town and BTM. The new store has taken up Cashify’s kiosk and store count to 45. “While our retail model started with a vision to help customers sell their old smartphones on the spot, we have a much bigger pool of services, which we are looking forward to offering to our customers through the chain of kiosks…

People willing to do a virtual doctor consultation can call 1800 103 7093 (toll-free) to speak to a vHealth expert or give a missed call at 90290 96186 for online registration Lucknow: vHealth by Aetna (www.vHealth.io) has announced a special initiative of providing free access to its virtual doctor consultation service, until 15th April, to help ensure people have access to health care during the COVID-19 outbreak. vHealth provides professional and confidential medical consultations by telephone and video for people across the country. The announcement comes at a time when governments and healthcare authorities, around the globe, are recommending social…

Mumbai: Private sector lender IndusInd Bank has said that newly-appointed Managing Director and Chief Executive Officer (CEO) Sumant Kathpalia will take charge from Tuesday for three years. He will succeed Romesh Sobti whose tenure ended a day earlier. Kathpalia is a career banker with over three decades of experience in large multi-national banks like Citibank, Bank of America and ABN AMRO, including his stint as Head of Consumer Banking at IndusInd Bank Ltd. He has experience across diverse functions including business strategy, sales and distribution, operations, systems, risk and credit management, and financial management. However, his new role begins amid…

Bengaluru: IT software major Infosys said on Tuesday the US Securities and Exchanges Commission has given it a clean chit in the whistleblower case. “The company received notification that the SEC has concluded its investigation and the company does not anticipate any further action on this matter,” it said in a statement. Infosys said it also responded to all inquires received from Indian regulatory authorities. “The company will continue to cooperate with authorities should there be any additional requests for information,” it said. On October 21 last year, the company had said it is examining charges made by some unnamed…

Chennai: TVS Motor Company today announced significant measures to tackle the spread of COVID-19 (Coronavirus). The company has decided to halt all manufacturing operations at its plants in India and Indonesia till further notice. All relevant employees have already been provided with Work from Home facility. The well-being of the employees is paramount for the company. The immediate focus is to ensure the safety of employees, their families, and the extended enterprise including suppliers, dealers and our customers. TVS Motor Company has assured that it will protect jobs and salaries in the wake of the COVID-19 pandemic. The company also…

Mumbai: Reliance Industries Limited (RIL) on Monday said that it has set up India’s first COVID-19 dedicated hospital in Mumbai. “Sir HN Reliance Foundation Hospital in collaboration with the Brihanmumbai Municipal Corporation (BMC), has set up a dedicated 100 bedded COVID-19 centre at Seven Hills Hospital, Mumbai for patients who test positive for COVID-19,” RIL said in an official statement. “This first-of-its-kind-in-India centre is fully funded by Reliance Foundation and includes a negative pressure room that helps in preventing cross contamination and helps control infection. All beds are equipped with the required infrastructure, biomedical equipment such as ventilators, pacemakers, dialysis…

The Redmi Note 9S smartphone has been launched. The Redmi Note 9S looks similar to the Redmi Note 9 Pro launched in the Indian market earlier this month. Talking about important features, four rear cameras on the back panel of the phone and Snapdragon 720G processor have been used in the phone. The dual-sim Redmi Note 9A has a 6.67 inch full-HD + (1080 x 2400 pixels) display, aspect ratio of 20: 9. Its screen-to-body ratio is 91 percent. The brightness of the HDR10 display is 450 nits and Gorilla Glass 5 has been used for protection. There is an…