Author: Finance Khabar

New Delhi: Foreign Portfolio Investors (FPIs) have withdrawn over Rs 1 lakh crore from domestic capital markets so far in March, fearing a global economic slowdown due to the corona virus outbreak.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 According to depository data, FPIs have withdrawn Rs 56,247.53 crore from equities and Rs 52,449.48 crore from bonds during March 2 to 20.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…

New Delhi: Amid the growing threat of Corona virus, the Tata Group has said it will pay full wages to temporary employees and daily wagers working at its offices and manufacturing sites across the country amid the threat of loss of jobs and wage cuts. Some Tata companies, such as Tata Projects, have a large number of temporary employees involved in construction activities. Other companies are also taking some initiative on their part to reduce the impact of the corona virus. Rajiv Bajaj of the Bajaj Group has said that he will not take his salary himself before coming to…

New Delhi: The demand for masks and hand sanitizers has increased significantly in the country in view of Corona. Due to increasing demand, its black marketing has started and the price has increased manifold. In such a situation, Consumer Affairs Minister Ram Vilas Paswan tweeted that the retail price of a 200 millimeter bottle of hand sanitizer will not exceed Rs 100. Other sizes of bottles will also be priced in the same proportion. These prices will be applicable throughout the country till 30 June 2020. The tweet said that under the Essential Commodities Act, the fabric used in 2…

New Delhi: Indian pharmaceutical company Cipla may introduce a medicine to treat corona virus in the next six months. If this happens, Cipla could become the first Indian company to invent the Corona virus drug. For this, the company is working on developing corona drugs in collaboration with government laboratories, as well as on the use of medicines related to breathing problems, asthma, anti-viral drugs and HIV drugs. Corona virus cases are increasing in the country. So far, 259 cases have been reported. Cipla promoter Yusuf Hamid said, “We are considering our national duty to dump all our resources for…

New Delhi: The Reserve Bank of India (RBI) will inject liquidity of Rs 30,000 crore through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak. The RBI has decided to conduct purchase of government securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 crore in two tranches of Rs 15,000 crore each in March, the central bank said in a statement. The auctions would be conducted on March 24 and March 30, it said. It said, “With the COVID-19 related dislocations, stress in certain financial market…

New Delhi: All efforts are being made by the government to minimize the damage to the country’s economy due to corona virus. On Thursday, PM Modi in his address spoke of the covid-19 Economic Response Task Force headed by Finance Minister Nirmala Sitharaman. Today, the Finance Minister held a meeting with top officials of the concerned departments and assessed the damage from Corona. The Finance Minister said that the impact of the Corona Virus epidemic on tourism, aviation, animal husbandry, MSME was assessed with the concerned ministries. The meeting held in New Delhi was attended by Finance Secretary, Secretary of…

New Delhi: The RBI on Friday appointed two additional directors on the board of Yes Bank — former deputy governor of the central bank R Gandhi and Ananth Narayan, an associate professor at SP Jain Institute of Management and Research. The appointment, effective March 26, will be for two years, the Reserve Bank said in a statement which comes a day after the private sector bank resumed full operations. March 26 is the day when the new management will take over after the administrator’s term ends. Under the reconstruction scheme, which came into effect from March 14, RBI can appoint…