Author: Finance Khabar
New Delhi: Domestic retail giant Reliance Retail tops the 50 fastest growing retail companies in the world. Reliance Retail topped Deloitte’s ‘Global Power of Retail Sector-2020’ index for the period 2012-13 to 2017-18. Reliance is part of the Reliance group of retail industrialist Mukesh Ambani. Deloitte ranked 250 global companies based on their 2017-18 revenue statement. According to the report, Reliance Retail topped the index in 2017-18, while in 2016-17, it was sixth. While Walmart stores ranked first in the ‘Global Power of Retail Sector-2020’ index and Costco Wholesale Corp was second. While Amazon is at third place in this…
Mumbai: The April 1 deadline set for the mega merger of 10 public sector banks is fast approaching, but it seems that these deadlines may go ahead as many regulatory approvals are yet to be received. A bank official said that it may take at least 30-45 days to get the share exchange ratio, shareholders’ consent and other regulatory approvals, despite the Cabinet approval of the proposed Mahavilaya scheme. The official said that it is believed that the Prime Minister’s Office (PMO) has sought information from these banks about their financial forecasts for the next three to five years. It…
Mahindra Insurance Brokers Limited (MIBL), a premier composite insurance broking company serving small and medium enterprises and companies in rural and semi-urban areas of India, has launched ‘Partnership’. Partnership is a unique partnership program designed to identify, question and prepare a team of Certified Point of Sales Person (POSP) for distribution of insurance through physical and digital (physical) modes. The POSP model is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). MIBL will strive to make the partnership more effective by leveraging its vast geographic presence in India’s rural and semi-urban markets. Through this partnership, MIBL aims…
Warren Buffett will say goodbye to Berkshire New Delhi: World-renowned successful investor Warren Buffett on Saturday said his farewell to Berkshire Hathaway. He issued his annual letter to shareholders, which stated – Berkshire Hathaway is 100 percent ready to bid farewell to him and Charlie Munger. There is a possibility that India-born Ajit Jain will take over the reins of the company. Omaha veteran investor Buffett issues letters every year. Let me tell you that Warren Buffett has been writing an annual letter to his investors for the last 40 years. Investors from all over the world are waiting for…
New Delhi: Former Reserve Bank Governor C Rangarajan has said that RBI alone cannot control inflation as supply matters need to be managed by the government. In a letter titled ‘New Monetary Policy Framework — It Means’, Rangarajan has discussed the RBI’s limits on containing inflation. “The target set for inflation should have a scope and time frame for its adjustment and it should not be too short-term,” he said. Rangarajan said, “In spite of all this, monetary policy should work regardless of the things that are going to encourage inflation. Clearly, supply management is needed in the supply related…
New Delhi: Indian Postal Service-linked bank- India Post Payment Bank (IPPB) is preparing to join Unified Payments Interface (UPI) from April to provide state-of-the-art mobile banking facility to its consumers. UPI is an instant payment system developed by National Payments Corporation of India. UPI facilitates quick money transfer between two parties’ bank accounts. A senior official of the IPPB at the Head Post Office here said that India Post Payments Bank will join the Unified Payment Interface (UPI) from April next, allowing IPPB customers to pay anyone from their account. He said that with the implementation of UPI in IPPB,…
New Delhi: The central bank is reviewing the impact of retail inflation in the monetary policy decision along with its impact. Reserve Bank Governor Shaktikanta Das has said that there are plans to discuss this with the concerned parties including the government. The government decided to set up a Monetary Policy Committee under the chairmanship of the RBI Governor in 2016, in an effort to keep inflation within a certain range. The committee was entrusted with the responsibility of determining the policy rate (repo rate). The six-member Monetary Policy Committee was entrusted with the task of keeping inflation at 4…
New Delhi: Dalmia Bharat Group company Dalmia-OCL’s plant in Liaoning province, China, has resumed operations. An official of the company informed about this. Dalmia-OCL is India’s top refractory company. Refractory is a device used to withstand high temperatures in order to make hot steel. Dalmia-OCL CEO Sameer Nagpal said that the company’s Dashikiao plant was closed since January 24 and its operations resumed last week. The plant closed earlier on a New Year public holiday. Thereafter, the period of closure of the plant was extended due to the spread of coronavirus infection. He said, “Due to New Year the plant…
26 people in the world have as much wealth as 4 billion people New Delhi: Free markets have developed many such treatments which are saving millions of lives and bringing billions of people out of poverty. But the way capitalism worked over the last few years, economic inequality has taken a big form. There is a competition to increase profits everywhere. The situation is such that the 26 richest people in the world are so rich that their total wealth is equal to 3.8 billion poor. Think of yourself, where 26 and 3.8 billion people? The list of world’s richest…
New Delhi: Encouraged by the positive sentiment created after the Budget and the Reserve Bank’s liberal stance, Foreign Portfolio Investors (FPIs) have so far raised Rs 23,102 crore in the domestic market in February. According to depository data, during February 3 to February 20, FPIs have infused Rs 10,750 crore in equity and Rs 12,352 crore in the bond category. During this period, the total investment of FPIs stood at Rs 23,102 crore. FPIs have been net investors in the domestic market since September last year. Himanshu Srivastava, senior analyst manager (research), Morningstar Investment Advisor India, said, “There are a…
Four cameras with 48MP, 5000mAh battery will be available Techno (tecno) has launched two smartphones with the best camera in India, Camon-15 and Camon-15 Pro in a new avatar. The company has priced the Camon-15 at Rs 9,999 and the Camon-15 Pro at Rs 14,999. According to the mobile manufacturer, the Techno Camon smartphone will bring the times of best camera pixels, premium AI with ultra night lens and pop-up selfie camera. After consolidating its position in the first five smartphone brands in the entry-level segment phones, the handset maker hopes to consolidate its position in the mid-range smartphone segment…
New Delhi: Kia Motors, the leading South Korean automaker, launched the Kia Seltos as its first vehicle in the Indian market last year. Due to the very attractive look and strong features, this SUV has performed well in the market here. Now the company is preparing to bring its new compact SUV Kia Sonet. This SUV was also showcased at the past Auto Expo, now the company has released its first TVC video. In this new video, the concept version of Kia Sonet is shown. In this SUV, the company has included features such as Tiger Nose Grill, LED Day…
In the G20 meeting, Sitharaman stressed on increasing global risk monitoring New Delhi: Finance Minister Nirmala Sitharaman on Saturday stressed on increasing global risk monitoring and said that there is a need to explore the possibilities of policy coordination to tackle these risks. Sitharaman, addressing a meeting of Finance Ministers and Governors of Central Banks of G20 countries in Riyadh, called on all member states to step up efforts to empower women, youth and small and medium enterprises. “The Finance Minister Nirmala Sitharaman asked the G20 countries to increase global risk monitoring and explore policy coordination to tackle such global…
New Delhi: The market capitalisation of six of the top 10 Sensex companies fell by Rs 29,487 crore last week. The market capitalisation of Bharti Airtel declined the most during this period. The market capitalisation of TCS, HDFC, Hindustan Unilever, HDFC Bank and Reliance Industries also declined in the week ended Thursday. However, the market capitalisation of Infosys, Bajaj Finance, Kotak Mahindra Bank and ICICI Bank increased during this period. During this period, the market capitalisation of Bharti Airtel decreased by Rs 10,692.9 crore to Rs 2,97,600.65 crore. TCS’s market capitalisation declined by Rs 10,319.06 crore to Rs 8,09,126.71 crore.…
Interest rates on FDs vary widely depending on the banks as well as tenors. While the leading banks of the nation like SBI, HDFC Bank and ICICI Bank are offering highest interest rates of 6% to 6.4% per annum currently, smaller banks are giving highest interest rates in the range of 8% to 9%. The maximum rates on FDs are being offered by small finance banks. Suryoday Small Finance Bank FD rate ranges from 4% to 9% for general customers and 4.5% to 9.5% for senior citizens depending upon the tenure they chose. The bank gives the highest rate of…
New Delhi: The Central Government had given in-principle approval to merge Indian Bank with Allahabad Bank. Now there is bad news for customers. If your ATM is in this bank, then from March 1, 2020, 2000 rupee notes will not come out. Although the 200 rupee note will increase. Currently, only one bank has decided to do so. Indian Bank has decided that it will not put Rs 2,000 notes in its ATMs. In this regard, the bank has informed all its branches. Indian Bank has taken this decision keeping in mind the convenience of its customers. Indian Bank was…
Sonbhadra: Sonbhadra of Uttar Pradesh is in discussion about gold these days. The Geological Survey of India (GSI) on Saturday claimed the mine to be not just 160 thousand tonnes, but only 160 kg of gold. GSI director Dr. GS Tiwari said that GSI does not believe that Sonbhadra’s mine has 3000 tonnes of gold. Sonbhadra is said to contain 52806. 25 tonnes of gold ore and not pure gold. Only 3. 03 grams of gold per ton will be produced from the gold ore found in Sonbhadra. Only 160 kg of gold will be produced from the entire mine.…
Mumbai: Pawan Goenka, managing director of Mahindra & Mahindra, said on Saturday that Indian people prefer big cars even for the use of singles. He said that this thinking of people is a major reason for the ‘unfortunate’ failure of Tata Nano. Goenka said in a program of former students of IIT Kanpur here that the automobile industry has a significant contribution in pollution and all possible methods should be adopted to reduce it. Tata Motors has stopped production of the Nano, known as the Lakhtakia car. Many experts believe that Indian consumers buy cars for pride, this is the…
New Delhi: China’s smartphone company Oppo is preparing to launch its new smartphone in India. The company will launch Oppo Reno 3 Pro in India on 2 March. The company launched the Oppo Reno 3 Series in China in December 2019. In this series, the company launched two smartphones Oppo Reno 3 and Oppo Reno 3 Pro. Both these smartphones come with 5G connectivity. Bharat Reno 3 Pro 4G LTE version will be launched 4G LTE version of this phone will be launched in India, while in China this phone comes with 5G connectivity. The teaser page for this phone…
Riyadh: The finance ministers of the G20 countries and the governors of their central banks gathered here on Saturday to discuss two days on the current situation of the global economy and the risks posed by coronavirus infection. Organizers said that in this two-day discussion, the G20’s “Finance Ministers and Central Bank Governors will discuss possible policy measures to prevent the growth of the global economy and the dangers of growth and encourage growth.” The organizers said, “Apart from this, they will also discuss the challenges of taxation in the era of digitization of economies. Saudi Arabia is chairing this…