Author: Finance Khabar

Airline companies are beginning to be affected by the increasing cases of corona virus worldwide. The country’s budget airline company GoAir has asked some of its employees to go on leave without pay after international flights were suspended till April 15. Sources aware of the case have given this information. The airline said, “We are temporarily suspending our international flights from 17 March to 15 April. Go Air has launched a short-term and temporary rotational leave without pay program, which will not only help the company to cope with this capacity shortage, but also ensure some employees stay away from…

New Delhi: Renault has introduced a new version of its popular SUV (Sports Utility Vehicle) Duster vehicle based on BS-6 standards in India. Its starting price is Rs 8.49 lakhs. Reno India said in a statement on Tuesday that the Duster with BS-6 standards will be available in 1.5-liter engine and three versions of the manual gear switch. The most expensive model is priced at Rs 9.99 lakh. The company has already introduced Quid and Tribar with Bharat Stage (BS) -6 emission standards.

Mumbai: Prashant Kumar, the new CEO of Yes Bank, said on Tuesday that the entire functioning of the bank will return to normal from Wednesday evening. He also said that there is really no concern about the cash in the bank. In the last three days, deposits have come more than withdrawals in Yes Bank. He said that only one third of the bank’s customers withdrew Rs 50,000-50,000 from their accounts. The ban on the bank stuck in crisis will end on Wednesday evening. State Bank of India (SBI) and some other private banks have invested in the bank under…

New Delhi: The Reserve Bank of India has reduced the capital requirements for payment aggregators to Rs 15 crore at the time of application for the licence from Rs 100 crore it had proposed earlier. In the final regulatory note released on March 17, the central bank said that applicants need to have Rs 15 crore of net worth, which needs to be increased to Rs 25 crore within three years of operations. “Existing non-bank entities offering payment aggregation (PA) services shall apply for authorisation on or before June 30, 2021,” RBI said. This has been a major relief for…

Drug major Sun Pharmaceutical Industries on Tuesday said its board has approved Rs 1,700 crore share buyback offer at a maximum price of Rs 425 per share. In a regulatory filing the company said that the board of directors of the company, at its meeting held on Tuesday has approved the buy-back of its equity shares from the open market at a maximum price of Rs 425 per share for an aggregate maximum amount of up to Rs 1,700 crore. “At the maximum buy-back size and the maximum buy-back price, the indicative maximum number of equity shares to be bought…

New Delhi: Patanjali Ayurved Limited, patronized by Baba Ramdev, has suffered a major setback. Patanjali has been fined Rs 75.08 crore by the National Anti-Profiteering Authority (NAA). The National Anti-Profiteering Authority has said that despite the reduction in Goods and Services Tax (GST) on washing powder, Patanjali had increased its prices and the benefit of this deduction did not reach the customers. Patanjali will have to deposit an amount of 18 per cent GST with a penalty of Rs 75.08 crore to the Consumer Welfare Fund of the Central and State Governments. According to a report published in Business Today,…

Developing countries’ oil and gas income could fall to their lowest levels in more than two decades if current energy market conditions persist, the IEA and OPEC have warned in a rare joint statement. IEA Executive Director Fatih Birol and OPEC Secretary General Mohammed Barkindo expressed “deep concerns” about the coronavirus pandemic on Monday, warning it could have “potentially far-reaching economic and social consequences.” Birol and Barkindo said they expect developing countries to see their oil and gas income fall by 50% to 85% in 2020. They singled out public sector spending in vital areas such as health care and…

Following the Supreme Court’s dismissal of the RBI’s ban order on cryptocurrency business, there has been news from the Global Accent Binance Group that it will invest $ 5 million (Rs 370-crore) to invest in blockchain technology in India. Going to create a separate fund. According to the report, this fund named Blockchain for India will invest $ 1 lakh per startup in India. Through this, Indian entrepreneurs will get direct access to the blockchain ecosystem of Binance. The fund will also be used to invest in other forms of cryptocurrency such as Binance Coin, Binance USD, WRX coins. The…

Houston, Texas headquartered software systems company Idera has acquired InfoSoft Global, the parent entity of data visualisation startup FusionCharts. Kolkata based FusionCharts will join Idera’s developer tools business unit that includes Embarcadero, LANSA, Sencha, Whole Tomato and Froala, all of which develop software tools catering to specialised applications, a statement said. The terms of the deal have not been disclosed. FusionCharts, a JavaScript charting library for building web and enterprise applications such as dashboards for mobile and desktops, is used by over 800,000 developers across over 28,000 companies such as Facebook, Apple, Microsoft, Google, Oracle, Adobe, IBM, Intel, Caterpillar, Walmart,…

Manish Dugar is set to take over as the chief financial officer (CFO) of Bengaluru-based information technology (IT) services firm Mphasis from May 15. Earlier, he was the CFO at IT services company Wipro, advertising technology firm InMobi and online doctor appointment booking platform Practo. V Suryanarayanan will continue to hold the position till Dugar takes over and assist with the transition until he retires in October, the company said in a statement. Till January, Dugar was the managing partner of Bengaluru-based venture capital and private equity fund Agnus Capital for about eight months. Before that, he was the CFO…

New Delhi: Rating agency Moody’s Investors Service lowered India’s economic growth forecast for 2020 to 5.3 percent on Tuesday, given the impact of corona virus on the economy. Moody’s had earlier said in February that India’s GDP could grow at a pace of 5.4 percent in 2020. However this was also slashed from the earlier estimate of 6.6 percent. The agency said on Tuesday that the rapid spread of corona virus infection would have substantial economic impact. In affected countries, it is affecting domestic demand, disrupting the supply chain and decreasing trade from one country to another. “The longer these…

Along with many other banks, the State Bank of India, India’s largest bank, has recently slashed its fixed deposit rates, which is bad news for investors looking to park their hard-earned money in FDs. After all, many risk-averse investors as well as senior citizens bank on FDs for assured returns as well as the safety of capital. However, the falling interest rates of FDs apart from many other safe investment options like PPF are keeping them confused and they are wondering what to do in the current scenario. Industry experts, however, say that there is not much to worry as…

New Delhi: Hotel company APJ Surendra Park Hotels has received approval from SEBI for its initial public offering (IPO) of an estimated Rs 1,000 crore. The company may launch an IPO of Rs 1,000 crore. According to merchant banking sources, the company will offer new shares worth Rs 400 crore and promoters worth Rs 600 crore for sale under the IPO. According to the latest information from the Securities and Exchange Board of India (SEBI), it gave its final comment on March 9. This comment of SEBI is considered acceptance. The funds raised through the company’s IPO will be used…

New Delhi: Public sector company Oil and Natural Gas Corporation (ONGC) on Monday declared a dividend of Rs five per share for its shareholders. With this announcement, the government will receive Rs 3,950 crore on its stake in the company. ONGC said in a regulatory notice that its board of directors met on Monday in which it has announced an interim dividend of Rs 5 on every Rs 5 share of the company. The government holds a 62.78 percent stake in ONGC. The government will receive a dividend and tax of Rs 3,949 crore on this stake. On Monday, ONGC…

New Delhi: Insurance company Bajaj Allianz Life has simplified the claim process for riot victims in North East Delhi. The company said on Monday that it would now have to provide at least documents to file claims. Bajaj Allianz Life said in a release that the company has set up a special help desk at the local office to expedite claims settlement for the people of the area. At the same time, the people of this region are accepting claims of death and crippling priority. To simplify the claim process for the insured, their nominees or legal heirs, the company…

New Delhi: Investors of SBI Card IPO have received a major setback on Monday due to fears of worldwide corona virus cases. Its listing was at Rs 658 with a 13% discount and it could not touch its allocation price of Rs 755 even in day trading. The company’s stock fell 12.84 percent to open at Rs 658 on the BSE. During the business, it trading in the range of Rs 755-658. It finally ended 9.50 percent down at Rs 683.20. Similarly on the NSE, it fell 12.45 percent to open at Rs 661 and closed at Rs 678 with…

New Delhi: Super Plastronics (SPPL), the brand licensee of Kodak in India, has launched Kodak Android televisions on Flipkart. A 43-inch television will come for Rs 23,999 – the lowest price for an ‘official’ Android 4K TV in India. Only Google certified Android TVs get the ‘official’ tag. The series is available in four variants, 43 inch, 50 inch, 55 inch and 65 inch. The price of the series starts from Rs. 23,999 for the 43-inch variant to Rs 49,999 for the 65-inch variant. The product will available on Flipkart from March 19. Currently, prices for official Android 4k TVs…

Mumbai: Corona broke into havoc on the stock market on Monday as well. The Sensex of the Bombay Stock Exchange (BSE) fell by 2713.41 points (7.96%) amid growing outbreaks of the virus in countries around the world. At the same time, the Nifty of the National Stock Exchange (NSE) fell 756.10 points (7.60%) to close at 9,199.10. This is the second biggest drop of a day in the Sensex. On March 12, the Sensex had lost 2,919 points. Shares of all 30 companies closed on the red mark on the BSE. On the NSE, shares of 49 companies were sold…

New Delhi: Seeing the havoc of the corona virus in India, Reserve Bank of India Governor Shaktikanta Das has instructed all banks in the country to be alerted. RBI Governor Shaktikanta Das has said that all banks should be prepared for the emergency situation. The corona virus infection has spread to 15 states in India and 116 cases have been reported across the country so far. Governor Shaktikanta Das said, India is not spared from this epidemic, more than 100 cases have been reported. A large-scale effort is being made by the government to eliminate it. He said that the…

New Delhi: Wholesale price index (WPI) based inflation softened to 2.26 percent in February on the back of cheaper foods and vegetables, government data showed on Monday. In January, the WPI inflation stood at 3.1 percent and in the year-ago same period it was at 2.93 percent, as per the data from the commerce and industry ministry. The WPI inflation for food articles for February 2020 came in at 7.79 percent as against 11.51 percent in the previous month. The rate of price rise for onion and potato too came down to 162.30 percent and 60.73 percent, respectively as against…