Author: Finance Khabar

New Delhi: Finance Minister Nirmala Sitharaman could announce several measures to deal with the economic impact of Covid-19 in her reply to the Finance Bill on Monday. According to a report FM Sitharaman could also propose a threshold of Rs 15 lakh for the taxation of the income of non-residents who don’t pay tax in other jurisdictions, taking the sting out of the contentious budget proposal. The government may also hike special additional excise duty on petrol to Rs 18 per litre and on diesel to Rs 12 per litre, to raise revenue for relief measures. Worth mentioning here is…

Mumbai: Benchmark indices resumed trading after trading has been halted for 45 minutes post Sensex hit lower circuit. The Sensex is down 3,173.67 points or 10.61% at 26742.29, and the Nifty down 909.60 points or 10.40% at 7835.85.About 203 shares have advanced, 1436 shares declined, and 68 shares are unchanged. The Sensex fell by 3300 points compared to Friday’s closing. The Bombay Stock Exchange’s Sensex fell 10%, causing the stock market to stop trading for 45 minutes. This is the second time in a month that trading of the stock market has stopped. Earlier on March 13, the trading of…

Gurugram: Honda Motorcycle & Scooter India Pvt. Ltd. today announced precautionary measure as it diligently monitors current COVID-19 pandemic situation. The wellbeing of Employees and all stake holders being the top priority, Honda 2wheelers India has temporarily announced shutdown of operations across all its four manufacturing plants with immediate effect till further notice. The duration of this shut down will depend upon the Government policy. To maintain business continuity and support of all stake holders, company has introduced ‘Work from Home’ policy for all its office based associates, except for those whose physical presence is necessary to run the day-to-day…

New Delhi: Stock brokers have been allowed to access the market from their homes till April 30 in the wake of the coronavirus pandemic. This could be the first time brokers have been given this facility, according to market experts. In separate circulars, the BSE and the NSE said that they have allowed brokers and traders to take terminals outside the authorized locations. The move will permit brokers to work from home. The arrangement will continue till April 30 or longer if the situation demands, they added. The move comes after the exchanges received representations or enquiries from trading members…

New Delhi: FMCG companies have slashed hand sanitizer prices following government directives and increased their production to meet the sudden surge in demand due to the Kovid-19 epidemic. Hand sanitizer manufacturers such as RB, HUL, ITC, Godrej Consumer, Himalaya and Dabur said that they have no complaints about fixing prices and stand with the nation in the face of a serious health crisis. Manufacturers are also ensuring that their hygiene products continue to reach the shops on time. The government on Saturday fixed the maximum retail price of a 200 ml liter hand sanitizer bottle at Rs 100 by June…

New Delhi: Maruti Suzuki, the country’s largest carmaker, has stopped production at its factories in Gurgaon and Manesar near Delhi. The company said on Sunday that the decision has been taken in view of the corona virus epidemic. The company told the stock market that it would cease production and office work in its factories in Gurgaon and Manesar (Haryana) with immediate effect. This moratorium will continue till further notice. ‘ It has been said in the information that work will also be stopped in its research and development center in Rohtak. The company has said that this period of…

New Delhi: Foreign Portfolio Investors (FPIs) have withdrawn over Rs 1 lakh crore from domestic capital markets so far in March, fearing a global economic slowdown due to the corona virus outbreak. Experts believe that foreign investors are withdrawing from risky assets and investing in safe investments like dollars and gold. According to depository data, FPIs have withdrawn Rs 56,247.53 crore from equities and Rs 52,449.48 crore from bonds during March 2 to 20. In this way they have made a net withdrawal of a total of Rs 1,08,697.01 crore. Earlier, from September 2019, FPIs were continuously pure buying.

New Delhi: Indian Oil has started supplying BS6 fuel ahead of time. The country’s largest fuel company has become the first company to launch it. The entire country will adopt BS6 fuel which is considered to be the cleanest fuel from April 1, but IOC has started supplying this fuel at 28000 petrol pumps two weeks ago. BS6 standard petrol diesel has a very small amount of sulfur, so it is considered pure. Indian Oil chairman Sanjeev Singh said, “We have started supplying BS-6 grade fuel across the country. Our 28 thousand petrol pumps have been dispensing it for more…

New Delhi: The market capitalization of eight of the top 10 companies in the Sensex reduced by Rs 3,63,884.03 crore in the previous week combined. HDFC Bank suffered the most. The Sensex lost 4,187.52 points, or 12.27 percent, during the week under review. During this period, Hindustan Unilever and ITC were the only two companies whose market capitalization has increased. HDFC Bank’s market capitalization fell by Rs 1,03,470.28 crore to Rs 4,83,720.15 crore during this period. Apart from this, ICICI Bank’s market capitalization fell by Rs 65,853.55 crore to Rs 2,23,753.14 crore, Reliance Industries’ Rs 54,961.45 crore fell to Rs…

Mumbai: Public sector insurance company LIC has decided that its deadline has been extended to 15 April 2020 for policyholders unable to pay premium due to the corona virus epidemic. “In view of the extraordinary circumstances that have arisen in the country in the wake of covid-19, LIC has given relief to its policyholders in premium payments till 15 April 2020,” LIC said in a statement. Is that those who have been unable to pay the premium for some reason. To prevent the spread of the corona virus, most states have asked people to maintain social distance and avoid travel…

New Delhi: Anand Mahindra has emerged as the first industrialist to offer help in view of the corona’s case going forward. Mahindra spoke about the monetary help by giving his full salary to the patients as well as giving his full salary. Mahindra Group Chairman Anand Mahindra on Sunday said that his company is immediately beginning to work on the possibilities of how ventilators can be manufactured in their manufacturing units. Also, he said that his club Mahindra Resorts can be used as a temporary facility for the care of patients. Apart from this, Anand also said that his company…

The Union Cabinet has taken major decisions to enhance manufacturing of electronic components, semiconductors and mobile segments. In its meeting on Friday, the Cabinet approved ‘production-linked incentive scheme (PLI)’ scheme for promoting manufacturing of electronic components and semiconductors’ (SPECS) and Electronics Manufacturing Clusters (EMC) 2.0′. The PLI scheme is proposed to offer a production-linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components, including assembly, testing, marking and packaging (ATMP) units, an official statement said. It will extend an incentive of 4 per cent to 6 per cent on incremental sales (over…

Creativity is a skill, which can be learned and practiced. Creativity is unlike intelligence and everyone can learn to be creative.Thanks to the modern age’s use of technology and other practices that allows creativity to be taught and learned since childhood. Do you know why children are encouraged to learn drawing, painting, singing, dancing and other creative forms? Answer is simple, it is because creativity has to be harnessed right when one is young. It is believed that highly-creative people are very successful startup owners. The reason is SIMPLE. Because creativity helps them to look at a problem from various…

Mumbai: The Reserve Bank on Saturday said that it has extended the regulatory ban on Punjab and Maharashtra Cooperative Bank (PMC) to 22 June 2020 for the next three months. The Reserve Bank had imposed a regulatory ban on PMC Bank for six months on 23 September 2019 for financial irregularities. “It is notified for the information of the public that the instructions of 23 September 2019 have been extended from 23 March 2020 to the next three months i.e. 22 June 2020,” the central bank said in a statement. These instructions have been reviewed from time to time and…

With Coronavirus cases increasing daily in India, startups have shown their ‘human’ side of their businesses by introducing important precautionary measures for their employees and customer safety.Here we present a list of startups who have set an example to other organizations that businesses can continue with proper planning amid coronavirus outbreak: 1) DB Digital, which is supported by the Dainik Bhaskar Group has stopped all non-critical travelling of their employees and workers by allowing them to work from home to prevent the spread of COVID-19. The company has also provided N95 masks and hand sanitizers to all of its employees…

New Delhi: Cheaper jet fuel made air travel more affordable in July, data from travel websites showed, aided by new flights, last-minute sales and the opening up of the Pakistani airspace. Average one-way fares during July on domestic trunk routes were up to 40% lower from a year ago, data from online travel portal Ixigo showed, with Mumbai-Hyderabad fares down 39%, Mumbai-Chennai 62% and Mumbai-Bengaluru 33%. Aloke Bajpai, Ixigo founder and chief executive officer, said average July fares for domestic and international flights were also 40-45% below the fares seen in the June quarter. “Normalization of fares can be attributed…

New Delhi: With Maharashtra recording the highest number of confirmed coronavirus (COVID-19) cases in India, Tata Motors is preparing for one-week complete shutdown of its Pune plant. Tata Motors is the biggest automotive sector employer in Maharashtra with two manufacturing plants, a research centre and multiple offices in Mumbai and Pune. If it goes ahead with its shutdown from the indicated March 24 date, Tata Motors will become the first Indian automotive company to declare a lock down of manufacturing operations due to the pandemic. Several automotive companies such as Volkswagen and BMW have already shut their Europe plants. In…

In view of the increasing infection of corona, insurance companies are also providing insurance cover for the treatment of corona in their policy. This policy can carry people who are not infected with Corona. ICICI Lombard has provided this insurance to cover coronavirus. According to the company, at any government authorized center, corona will pay the entire amount when the test is positive. According to the plan, as soon as the patient is diagnosed with corona infection, he will be provided a lump sum amount of insurance during the policy period. In this policy with a tenure of one year,…

Mumbai: The country’s largest state-run State Bank of India (SBI) has prepared a scheme for additional funding to businessmen affected by the corona virus. The Covid-19 Emergency Credit Line (CECL) will remain in force till June 30 and will be equivalent to 10% of the capital limit. Under this, a maximum loan of 200 crores will be available. The loan interest rate under CECL will be 7.25% and no processing fee or prepayment penalty will be charged for it. SBI is the first bank to launch this scheme and it is expected that other government banks will also look after…

New Delhi: In the midst of the Corona virus crisis, taxi services Ola and Uber have temporarily shut down their shared travel services ‘Ola Share’ and ‘Uber Pool’ respectively. Using these shared travel services of both the company, many passengers traveling on the same route can travel together. “In an effort to stop the spread of the corona virus, the company is temporarily shutting down the Ola Share” facility until further notice, Ola said in a statement. The company said that its micro, mini, prime, rental and outstation services will continue. Uber said, “We are committed to helping reduce the…