Author: Finance Khabar
New Delhi: The Supreme Court has given a big decision in the case of crypto currency. The Supreme Court has allowed the transaction of cryptocurrency through virtual currency. The Internet and Mobile Association of India (IAMAI) had approached the Supreme Court, objecting to the RBI circular of 2018, which issued a directive to regulated entities not to do business in cryptocurrency. On which the Supreme Court opened the way for the transaction of virtual currency. IAMAI members exchange cryptocurrency between each other. The IAMAI claimed in its argument that the RBI move effectively banned legitimate business activity through virtual currency.…
Washington: The US central bank on Tuesday announced a major cut in benchmark interest rates by 0.5 percent, taking a surprising step. The Federal Reserve is believed to have taken this step to support the economy amid Corona virus outbreaks. Federal Reserve Chairman Jerome Powell said the corona virus poses a risk to economic activity. The Federal Reserve has cut interest rates for the first time since last year. Last year it had cut interest rates three times. This is the first time that the central bank has cut interest rates in the midst of policy review meetings after the…
Mercedes Benz has launched a new avatar of the GLC coupe. The specialty of the new GLC coupe is that it is more sporty than before and many new technologies have been used in it. The company has launched its two variants. The first GLC Coupe 300 petrol costs 62 lakh 70 thousand rupees and the second GLC 300d diesel costs 63 lakh 70 thousand rupees. Its petrol variant has a 2-liter engine that generates 258bhp power while its diesel variant has a 2-liter engine delivering 245bhp power. Both variants have 9 speed automatic gear that works on the four…
New Delhi: Paytm Insurance Broking Private Limited (PIBPL), a wholly-owned subsidiary of the country’s leading digital payment and financial services company, Paytm, has securing a brokerage license from the sector regulator Insurance Regulatory and Authority of India (IRDAI) Paytm’s operator company One 97 Communications Limited (OCL) said in a statement on Monday that PIBPL has obtained the license to sell life insurance and general insurance from the Insurance Regulatory and Development Authority of India (IRDAI). According to the company, this will give the company ‘the opportunity to sell insurance policies to millions of customers across India.’ Paytm has said that…
New Delhi: Bharti Airtel has paid Rs 1,950 crore of spectrum installment dues to DoT. Reliance Jio has also paid Rs 1,053 crore. Sources gave this information on Tuesday. The telecom companies have been allowed by the government to pay the spectrum purchased in the auction in installments over a long period. This is different from outstanding telecom companies’ adjusted gross revenue (AGR) liability. Sources said that while Bharti Airtel has paid Rs 1,950 crore of spectrum dues to DoT, Reliance Jio has paid Rs 1,053 crore. Apart from these, Vodafone Idea has also paid Rs 3,043 crore for the…
New Delhi: Sridhar Venkatesh has been appointed as Managing Director and Vice President of GSK India by pharmaceutical company Glaxo SmithKline Pharmaceuticals. His appointment will come into effect from April 1, 2020. Glaxo SmithKline Pharmaceuticals said in a statement on Tuesday that it will replace Annaswamy Vidhish. He will retire on 31 March 2020. Venkatesh has 24 years of experience in the field of medicine and health.
MUMBAI: The gains in shares of big companies like Reliance Industries, ICICI Bank and Kotak Bank on Tuesday amid a positive trend in the global markets put the brakes on the decline in the stock markets for seven trading sessions and the Sensex jumped by 480 points. In a highly volatile business, the 30-share Sensex closed at 38,623.70 points, a gain of 479.68 points or 1.26 per cent on the Bombay Stock Exchange. 28 of the 30 Sensex shares were profitable. Similarly, the National Stock Exchange’s Nifty gained 170.55 points or 1.53 percent to 11,303.30 points. Among the Sensex companies,…
Mumbai: The Reserve Bank said on Tuesday that it is monitoring the global as well as domestic situation regarding the effects of the dreaded corono virus. He also said that he is ready to take necessary steps to ensure that the financial markets function properly. The RBI said in a statement that financial markets have seen significant fluctuations globally with the outbreak of the corona virus. This has affected the perception and investors are withdrawing money from the market to invest in a safe place. The central bank said, “The Reserve Bank is closely and constantly monitoring global and domestic…
New Delhi: The government has banned the export of many medicines amid the rising outbreak of Corona virus. The stock of many essential medicines is about to run out and the supply of raw materials used to make medicines from China is disrupted. In view of this, the government has decided to ban the export of 26 medicines, so that there is no shortage of medicines in the country at present. The government has identified important and essential medicines that may run out of stock. These include antibiotics like amoxicillin, moxifloxacin, doxycycline, and the TB drug rifampicin. The raw material…
New Delhi: Due to the ongoing economic slowdown in the country, banks already struggling with NPAs can now incur a huge loss of Rs 2.55 lakh crore. If economic activity does not pick up in the coming three years, then corporate houses may lose 4 per cent of the bank’s total outstanding, which is close to Rs 2.54 lakh crore. In fact, if the business does not expand due to the recession, then the companies will not be in a position to repay the loan and in the end the banks may have to bear the consequences. According to a…
Vodafone Idea has introduced three new double data offers for its customers. The company has doubled the data on some of its recharge plans. All these plans of Vodafone Idea will get 1.5 GB data daily. The company is now offering 3GB data every day on recharge plans of Rs 249, Rs 399 and Rs 599. Earlier, 1.5GB data was available on these recharge plans every day. The validity of the Rs 249 plan is 28 days. While the validity of the plan of Rs 399 is 56 days. At the same time, the validity of Vodafone Idea plan of…
Mumbai: Vodafone Idea may pay about Rs 3000 crore of spectrum fee dues to the government this week. The company may take this step to prevent the bank guarantee from being redeemed. Its purpose may also be to indicate that the company has no intention of intentionally not repaying government liability. Deadline for this payment is on Tuesday and telecom companies get a grace period of 10 days. Notices are then sent and the bank guarantee is redeemed. A person aware of the matter told, “Vodafone Idea can pay spectrum dues this week. May be this payment is made on…
Mumbai: Due to the outbreak of Corona virus, important sectors of the country are unable to get raw material, the GDP growth rate in the fourth quarter of the current financial year could be as low as 0.2%. A foreign brokerage company said this on Monday. The country’s economy is already experiencing heavy sluggishness and according to government estimates, the economic growth rate could be 5% in FY 2019-20, which will be a decade low. Growth in the third quarter was 4.7%, a seven-year low. On Monday, two cases of corona virus have been confirmed in India, whereas earlier three…
New Delhi: The global body Organization for Economic Co-operation and Development (OECD) on Monday reduced India’s gross domestic product (GDP) growth rate to 5.1 percent for 2020 as against the earlier estimate of 6.2 percent. This step has been taken in view of the impact of the dangerous corona virus on the domestic as well as the global economy. The OECD said that in view of confidence, financial market, adverse impact on the travel sector and disrupting supply chain, the growth rate for all G20 countries for 2020 has been reduced. The rate of economic growth has been reduced, especially…
Xiaomi is ready to launch its new smartphone on March 12. Xiaomi India head Manu Kumar Jain tweeted, “The answer to the biggest question of 2020 has been found, on March 12 the next phone of Redmi Note is coming.” In the tweet it also wrote that the phone is like Pro Camera and Pro Performance Will come along, which will never be seen before. Xiaomi has created a dedicated page for the new phone, where the information of the phone can be seen. Although no information has been given about the name of the phone, but the ‘9’ written…
New Delhi: Initial public offering (IPO) of SBI Card subscribed for 39 per cent shares on Monday, the first day of the bid set for general investors. As per the data available on the National Stock Exchange, bids for 3,94,54,754 shares were received on the first day of this IPO. 10,02,79,411 shares are to be sold in this issue. According to merchant banking sources, 62 percent was subscribed to the account of shares reserved for retail investors while 12 percent was subscribed in the category of non-institutional investors. A total of 8.52 lakh applications were received prior to the bid.…
New Delhi: Local government oil marketing companies announced a 10 percent cut in jet fuel prices on Monday amid the fall in the global oil market. With this, the price of non-subsidized LPG cylinder has also been reduced by Rs 53. Due to this, one-third effect of increase in its prices has been done last month. Last month, the companies had made an exempt gas cylinder costlier by Rs 144.50. The price notification issued after the monthly review by the oil companies stated that the price of aircraft fuel in Delhi has been reduced by Rs 6,590.62 per kg liter…
New Delhi: Public sector company NBCC said on Monday that it has received an order of Rs 64.83 crore from Bharat Heavy Electrical Limited (BHEL) in Jharkhand. Giving information about this in the regulatory information sent to the Bombay Stock Exchange, NBCC has said that the company will fulfill this order from BHEL under engineering, procurement and construction format. The company has said that as part of the order, it will make chimneys for three units of 660 MW each at North Karanpura STPP in Jharkhand. The cost of this entire project is 64.83 crores.
NEW DELHI: To commemorate its 19th foundation day, Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India organized a Stakeholder Consultation here today to develop a vision towards building an energy efficient India. Launching the programme, Sanjeev Nandan Sahai, Secretary (Power) said, “I appreciate the hard work of BEE for contributing towards an energy efficient economy and at the same time, I also expect BEE to come up with more such programs in future. Such interaction would pave a way forward for initiatives to be taken by BEE in the sphere of energy efficiency. Deep freezer and LCAC are major…
New Delhi: RBL Bank and Zomato on Monday introduced co-branded credit with the help of MasterCard. Keeping in mind the possibilities of the online food delivery market, this card has been introduced. According to a joint release of these companies, this cardholder will be offered several benefits on online or off-line food booking from Zomato. This includes facilities such as Zomato Credits, Zomato Gold Global Membership and lounges at all major domestic airports. This is expected to help RBL Bank to expand and strengthen its operations in the rapidly growing credit card business. Utkarsh Saxena, head of RBL Bank’s credit…