Author: Finance Khabar
New Delhi: Scottish energy company Cairn Energy has attached several Indian properties in Paris. After a tax dispute with the Indian government, an arbitrage court asked the Indian government to pay $1.7 billion in damages. But the Indian government denied this. According to the news, during the trial in the US court, Cairn had sought an order to confiscate the overseas assets of Air India. He said that since Air India is a Government of India company, its assets can be confiscated. Meanwhile, official sources in the Government of India have said that the government has not received any information…
New Delhi: The central bank RBI has imposed fines on 14 banks for violating certain rules related to disbursement of loans. The country’s largest State Bank of India is also included in these banks. Apart from this, RBI has also imposed penalty on IndusInd Bank, Bandhan Bank and Bank of Baroda. According to the RBI, these banks have violated the provisions of the guidelines set by the central bank for lending to non-banking financial companies (NBFCs). Apart from this, these banks have not followed the provisions related to restrictions and provisions on loans and advances and have been negligent in…
Bharat Sanchar Nigam Limited has increased the validity of the prepaid plan of Rs 699. Along with this, the telecom operator has also launched two new special vouchers for its customers. According to a new report, now the validity of Rs 699 plan has been increased from 160 days to 180 days. BSNL launched a promotional plan of Rs 699 in April 2021. Under the offer, the telecom service company had extended the validity of the plan for 20 more days. In the plan, customers get the benefit of unlimited calling, 0.5GB daily data and SMS. The plan initially came…
भारतीय एयरटेल ने भारत में एक नया सब्सक्रिप्शन लॉन्च किया है, जिसका नाम सिक्योर इंटरनेट है. कंपनी ने कहा कि इससे यूजर्स को ऑनलाइन काम करते हुए सुरक्षित रहने और किसी साइबर अटैक से बचने में मदद मिलेगी. कंपनी के मुताबिक, यह प्लान मालवेयर और फर्जी वेबसाइट्स को ट्रैक और ब्लॉक करेगा. इस नई सेवा को साइबर सुरक्षा से जुड़े मामलों से निपटने के लिए पेश किया गया है. ऐसे समय में यह प्लान बहुत मदद करेगा, जब लोग वर्क फ्रॉम होम और घरों से ही पढ़ाई कर रहे हैं. एयरटेल का कहना है कि नई सर्विस जोखिम वाली वेबसाइट्स…
Mumbai: The BSE Sensex on Wednesday bounced back by 193.58 pts, breaching 53K level at 53,054 on the strength of Metal, Realty, Capital Goods and Industrial stocks. The Nifty too rose by 61.40 pts to 15,879.65. Despite volatility, the equity market ended on positive note, as the Sensex opened higher by 58 pts at 52,919.71. During the day, it was advanced by 244 pts to 53,105.41, days high before closing at 53,054.76, gaining by 193.58 pts from its previous close. Meanwhile, it was fell by 110 pts to 52,751.76, days low. The Sensex registered days high and low at 53,105.41…
Chennai: The Chennai-based company noted that the overall market demand in July is better than in June this year. Commercial vehicles major Ashok Leyland on Tuesday said its manufacturing plants across the country would be operational between 6-25 days in July. The Chennai-based company noted that the overall market demand in July is better than in June this year. “Consequently, our plants will be working for more days in July compared to May and June, ranging from 6 to 25 days across various plant locations,” Ashok Leyland said in a regulatory filing. On June 1, the company had announced that…
Mumbai: The Reserve Bank (RBI) has been conducting the OBICUS of the manufacturing sector on a quarterly basis since 2008. The RBI on Tuesday said it has launched the latest round of its quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) of the manufacturing sector, results of which are used in monetary policy formulation. The Reserve Bank (RBI) has been conducting the OBICUS of the manufacturing sector on a quarterly basis since 2008. “The survey provides valuable input for monetary policy formulation,” the RBI said while announcing the launch of 54th round of the survey. The information collected in…
New Delhi: GST revenue for the month of June stood at Rs 92,849 crore, a 2 per cent increase over the same month a year ago, the Finance Ministry said on Tuesday. The gross GST revenue collected in the month of June 2021 stands at Rs 92,849 crore of which Central GST is Rs 16,424 crore, State GST Rs 20,397, Integrated GST Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods), the ministry said. The GST revenues for the month of June…
Mumbai: On the basis of continued buying in banking and financial companies, the BSE Sensex rose by about two hundred and fifty points to a new historical level of 53,129.37 points during trading today, although at the end of the day, 18.82 points or 0.04 percent due to the sell-off in the market at the end. Slipped to close at 52,861.18 points. The Nifty of the National Stock Exchange also fell 16.10 points, or 0.10 per cent, to 15,818.25. It had reached 15,914.20 points in mid-trade, which is its second highest level. Markets were put under pressure due to fall…
Mumbai: The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted rate of interest on the matured TD, whichever is lower. As per the current rules, if a term deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings deposits. “On a review of these instructions, it has been decided that if a Term Deposit (TD) matures and proceeds are unpaid, the…
San Francisco: Led by Facebook, the global shipments of virtual reality (VR) headsets grew 52.4 per cent (year over year) in the first quarter of 2021, according to a new IDC report. Standalone headsets, which feature an all-encompassing design such as the Oculus Quest 2 or the HTC Vive Focus, accounted for the vast majority of shipments, capturing 82.7 per cent share during the quarter, up from 50.5 per cent in the first quarter of 2020. The growing popularity of gaming, as well as fitness, has helped spread consumer awareness of VR while companies like Facebook have made the tech…
Mumbai: The Flipkart Wholesale app will now be available for fashion retailers in Patna, Purnea, Katihar, Munger, Madhubani, Bhagalpur and Muzaffarpur, with the expansion to other cities in Bihar planned in the coming months. With this launch, Flipkart Wholesale digital platform will also give a boost to MSME fashion suppliers and artisans in the region through pan-India supply chain integration and help keep their businesses operational by offering a lively marketplace for them to sell their products, a company statement said. Santosh Kumal Mall, IAS, Secretary, IT, Government of Bihar, said, “We congratulate Flipkart Wholesale for entering Bihar in the…
Mumbai: Share market closed with a gain on today. At the close of business today, BSE Sensex has closed near 52900 and Nifty has also closed beyond 15800. Today 23 stocks were buying on the Sensex, due to which it got better support. There was buying in all banking stocks and Reliance on the Sensex. During trading today, the Sensex had even crossed 52900, but after that it fell slightly. At the close of trading today, the Sensex rose by 395.33 points to 52,880 and the Nifty closed at 15,834.35 with a gain of 112.15 points. Today 23 stocks closed…
New Delhi: There was a tremendous decline in the activities of the service sector in the country last month. Demand decreased due to restrictions imposed in many parts of the country due to rising cases of corona. According to the monthly survey, the Adjusted India Service Business Activity Index in June 2021 fell to 41.2 as compared to 46.4 in May. This is the sharpest low since July 2020. Due to this, the companies once again laid off. A score of over 50 on IHS Markit’s Purchasing Managers’ Index (PMI) indicates expansion, while a score of less than 50 indicates…
New Delhi: The business of Gujarat Co-operative Milk Marketing Federation Limited (GCMMF), a cooperative company dealing in Amul brand milk and its products, grew 2 percent to Rs 39,200 in FY 2020-21 despite the outbreak of Kovid-19. The company’s managing director RS Sodhi gave this information on Sunday. GCMMF had registered a revenue of Rs 38,550 crore during the financial year 2019-20, registering a growth of 17 per cent. Sodhi said in an interview with news agency PTI that the pace of sales growth was a bit slow during the last financial year but it is expected to pick up…
New Delhi: Airtel Payments Bank has seen a surge in business volumes in FY21 as lockdown curbs and migrants heading back to villages spurred new accounts as well as transactions, and the company is eyeing a break-even this fiscal, a top official said. Factors like growth in revenues, expanded scale of operations, and higher realisation per user from cross selling of products are expected to drive break-even in the current financial year. The pandemic and subsequent lockdown curbs fuelled uptake as customers, both in rural interiors and urban cities, sought banking solutions closer home, opting for convenient and secure digital…
New Delhi: The Central Board of Direct Taxes (CBDT) has brought into effect a provision relating to tax deducted at source (TDS) applicable to businesses with turnover of over Rs 10 crore. In a major move towards ease of doing business, new guidelines direct that businesses buying shares or commodities traded through recognised exchanges will not be required to deduct TDS on the transaction. The Central Board of Direct Taxes (CBDT) has brought into effect a provision relating to tax deducted at source (TDS) applicable to businesses with turnover of over Rs 10 crore. The Finance Act, 2021 inserted a…
New Delhi: State-run Oil and Natural Gas Corporation Ltd (ONGC) and its subsidiary ONGC Videsh have witnessed a ratings downgrade with a negative outlook, courtesy a similar Indian sovereign rating. Fitch Ratings has assigned ‘BBB-‘ rating on ONGC’s Long-Term Foreign-Currency Issuer Default Rating (IDR) and US dollar senior unsecured notes and on the foreign-currency guaranteed notes issued by ONGC Videsh, ONGC Videsh Vankorneft Pte Ltd, along with the medium-term note programme co-issued by the three entities. “ONGC’s ratings are constrained by the ratings of the state of India (BBB-/Negative), its majority owner, according to Fitch’s Government-Related Entities Rating Criteria, and…
Foreign portfolio investors (FPIs) made a net investment of Rs 13,269 crore in the Indian markets in June, changing the trend after increasing selling for two months. Himanshu Srivastava, Associate Director (Managerial Research), Morningstar India, said that this could be due to the continuous decrease in Kovid-19 cases in the country, which has raised hopes of a faster opening of the economy. Along with this, good results in the first quarter of the year and positive earnings growth trend in the long run is the reason for increasing FPI interest in Indian stocks, he said. According to depository data, FPIs…
New Delhi: During the last five months, there has been a boom in the sale of houses in the cities of the country. There has been a 23 per cent increase in house sales from January to May in seven major cities. In the first five months of 2020, 1,08,199 houses were sold but in the first five months of 2021, 1,32,818 houses were sold. Most of the houses were sold till 15 April 2021. According to a report by PropEquity, Bengaluru, Chennai, Hyderabad, NCR and Pune grew by 16, 40, 39, 29 and 34 per cent respectively in the…