Author: Finance Khabar
Mumbai: Vodafone Idea has requested the government to allow the repayment of the outstanding dues revenue (AGR) in 15 years. Along with this, the company has also demanded reduction in tax refund, license fees and spectrum usage charge (SUC) and fixing the minimum tariff limit. This can help the company maintain its business. In a letter to the Telecom Department (DoT), Ministry of Finance and NITI Aayog, the company has said that it needs help from the government to stay in business. The letter was sent a day before the meeting of the Digital Communications Commission (DCC), the decision-making body…
New Delhi: Life insurance companies may soon be allowed to sell mediclaim. Insurance regulator IRDA has constituted a committee that will study the difference between selling indemnity based health insurance policies of these companies. Currently, IRDA (Health Insurance) Regulations 2016 allow life insurance companies to sell only defined benefit based health insurance products. Indemnity based health plan is basically an insurance policy in which the insured person is paid the actual expenses incurred at the time of hospitalization. It is subject to the total sum insured under the policy. This means that the money spent at the time of treatment…
Anand: Shashank Rakesh & Amrit Visa from Institute of Rural Management Anand (IRMA), Anand emerged victorious at the Anand edition of Tata Crucible Campus Quiz 2020. A total of 72 teams battled it out in the city level finale for the top honors, held at IRMA College, Anand. Shashank Rakesh & Amrit Visa took home a cash prize of Rs. 75,000* and will compete in the zonal round to qualify for the national finale. Tanmay Jignesh Mehta & Jaynil Paresh Pandya from G H Patel College of Engineering and Technology (GCET), Anand were declared runners-up, winning a cash prize of Rs. 35,000*. Pratik Modi, Professor of Marketing…
New Delhi: Jaguar Land Rover (JLR) has started booking its new Land Rover Defender in India. This model has a 300 PS petrol powertrain. Its ex-showroom price will start from Rs. 69.99 lakhs. The vehicle will be available in two categories, three-door version (90) and five-door trim (110). Jaguar Land Rover India Chairman and Managing Director Rohit Suri said in a statement that the new Defender is a modern 21st century package. The new Defender will be available in both 90 and 110 trims in five versions .. Base, S, SE, HSE and First Edition.
New Delhi: Microsoft’s Chief Executive Officer (CEO) Satya Nadella has said that the quality and ambition of the ideas of entrepreneurs and innovators in India is ‘exciting’. This is encouraging innovation and society and economy is moving forward. He said that some school children are also among these innovators. Addressing the Youth Innovation Conference, India-born Nadella said how the spirit for the other is playing an important role in the development of some of these solutions. Especially for physically challenged people. Nadella also mentioned her meeting with children from three schools in the country at the event. These children are…
New Delhi: The committee, approved by Tata Motors’ board of directors, approved raising Rs 500 crore by issuing non-convertible debentures based on personal planning. In a communication sent to the stock exchanges, the company said that the committee has approved raising Rs 500 crore by issuing non-convertible debentures of 5,000 rated, listed, non-guaranteed, exchangeable E28-B series with a value of Rs 10 lakh each. It further states that this amount will be raised in two installments of Rs 250-250 crore through personal planning.
New Delhi: Bharti Airtel has allowed customers to book international roaming packs thirty days before traveling abroad and customers will be able to know the status of usage of such packs in real time on the Airtel Thanks App. According to the company’s release, the same international roaming pack can be used in 82 countries. Customers will be able to recharge the second pack during the journey by visiting the Airtel Thanks App. The company has launched three different packs of Rs 799, Rs 1199 and Rs 4,999. The packs of Rs 799 and Rs 1199 provide 30 days validity,…
New Delhi: Finance Minister Nirmala Sitharaman said on Wednesday that the government is vigilant about the effects of the corona virus on the domestic economy and is closely monitoring it. The minister also said that the proposed merger process of public sector banks is proceeding as per the schedule. The government has decided to form four big banks by combining 10 public sector banks. Sitharaman said that the government is closely monitoring the effects of corona virus on the economy. Corona virus disease has killed more than 2,700 people and infected at least 80,000 people in China, the world’s second…
MUMBAI: Local stock markets fell for the fourth consecutive day on Wednesday amid concerns about the financial impact of the corona virus disease on the global economy. The corona virus is now spreading to some new areas as well. This is increasing the risk to the global economy. The Sensex also lost another 392 points in the fall in global markets. The 30-share Sensex of the Bombay Stock Exchange had gone down by 521 points at one time during the day’s trading. It finally closed at 39,888.96 points, a loss of 392.24 points or 0.97 percent. In this way, the…
The future of the Indian Mining Industry and identifying areas of collaboration with Australia A 16 member Australian Resources delegation is currently in Kolkata as a part of Australia-India Business Exchange 2020 (AIB-X). The delegation is exploring collaboration opportunities with the Indian mining industry in Eastern India. Panel Discussion on India’s Mining Industry Coinciding with the visit of the Australian Resources delegation, a panel discussion titled “India’s mining industry – Targets, Reforms and Roadmaps” was organised in Kolkata today by the Australian Trade and Investment Commission (Austrade), Australian Government. The panel included business leaders from Indian industry associations, steel majors…
New Delhi: Moody’s Analytics believes that if the corona virus takes the form of an epidemic, the global economy may be hit by recession. Moody’s Analytics chief economist Mark Jandy said on Wednesday that corona virus infection has now spread to Italy and Korea as well. In such a situation, the possibility of it becoming an epidemic has increased. He said that the corona virus has given a major blow to China’s economy. Now it has become a threat to the economy of the whole world. The official name of the corona virus is Covid-19. It started in Wuhan, China…
New Delhi: Moody’s Investor Service has said that private sector telecom company Bharti Airtel has the financial capacity to pay the statutory dues of five billion dollars. Earlier this month, the Supreme Court had asked the telecom companies to comply with its decision of October 24, 2019. The apex court in its judgment had justified the definition of adjusted gross revenue (AGR) of the Department of Telecommunications. Moody’s said on Wednesday that AGR’s previous outstanding dues to Bharti Airtel amounted to Rs 35,300 crore, or $ 5 billion. However, the telecom company is self-assessing to get its final figures. Moody’s…
New Delhi: Smartphone brand Realme has appointed Bollywood actor Salman Khan as its brand ambassador. The company said in a statement on Wednesday that Salman Khan will promote Realme 6 and Realme 6 Pro. “The reason for making Salman Khan a brand ambassador is that he is very popular in all areas of the country,” said Madhav Seth, vice president of Realme and chief executive officer in India. Khan said that the Realme 6 series is very ‘stylish ‘ is. “I am confident that it will be successful in attracting consumers.” The company has said that the new Realme 6…
New Delhi: Fitch Ratings believes the proposed initial public offering (IPO) of Life Insurance Corporation (LIC) will improve the accountability and transparency of the country’s largest insurance company. Fitch Ratings also said on Wednesday that LIC’s IPO would benefit the entire insurance industry. Fitch said the insurance industry will probably benefit from it. The industry will be able to attract more foreign capital, which will also increase the flow of foreign capital into the country. Fitch said it hoped that once LIC’s IPO came, some private sector insurance companies would also be encouraged to list their shares in the stock…
If you want to withdraw a Rs 2,000 note from an ATM, you will not be able to do so now. The process of removing racks of Rs 2,000 notes from around 2,40,000 ATMs across the country has started. Now a tray of 500, 200 and 100 rupee notes will be present in every machine. According to sources, out of the 4 trays present in the ATM, three Rs 500 notes will be kept and the remaining 1 will get 100 or 200 rupee notes. According to Business Standard report, this process will be completed in the next few months.…
Even though India is at number three in the world of startup companies with a capital of up to one billion dollars, the pace of opening new firms has reduced now. Since 2016, the number of new startups has started to decline, while in 2019 the number of new startups has been the lowest. 2015 was the best year for new startups. There were 16,727 new startups that year. After this, there has been a continuous decline. In 2016, 12,860 new startups were started, while 8,741 in 2017 and 8,409 new startups in 2018. This figure has come down to…
The number of people holding debit cards has been falling continuously for the last 6 months. According to data from the Reserve Bank, the number of debit cards in the country fell 11% from 99.8 crore in October 2018 to 88.47 crore in April 2019. This decline comes at a time when the government is pushing banks to increase the number of point of sales or card terminals to promote digital payments. Bankers speculate that this is due to the replacement of cards with magnetic strips with a chip at the behest of the central bank. A senior banker said,…
New Delhi: There is good news for investors waiting for the biggest public issue of this decade. The IPO of SBI Card and Payment Services, a subsidiary of State Bank of India, is launching on 2 March. SBI Card has also fixed the price band of its public issue. The issue price of the IPO will be Rs 750-755 per share. According to experts, this IPO will prove to be a big hit just like IRCTC. The IPO committee of SBI Card has put its stamp on the price band. SBI employees will be given a discount of Rs 75…
New Delhi: According to the latest figures of the Employees’ State Insurance Corporation (ESIC), around 12.67 lakh new jobs were created in December 2019, compared to 14.59 lakh jobs created in the previous month. The National Statistics Office (NSO) said in a report that during FY 2018-19, a total of 1.49 crore new employees / workers were enrolled with ESIC. The report also mentioned that approximately 3.50 crore new people joined the ESIC scheme during September 2017 to December 2019. The NSO report is based on payroll data of new members created under various social security schemes operated by ESIC,…
New Delhi: Smartphone maker Oppo will launch its Oppo Find X2 phone on 6 March. Now the company has started taking bookings for Oppo Smartwatch through its official app. That is, the company can also offer its first smartwatch with Oppo Find X2. The company has also released the teaser of this watch. However, the company has not yet shared details about this watch. More information about this will be available at the launching event on 6 March. Oppo Find X2 may be launched with Oppo Find X2 as well as the company’s first smartwatch can also be exposed. The…