Author: Finance Khabar
New Delhi: Competition Commission of India (CCI) has approved a proposal to sell 49 percent stake in GMR Group’s airport business to France’s ADP Group. This approval has been obtained by automatic route. GMR Infra on Thursday said that the ADP group will buy 49 percent stake in its airport business for Rs 10,780 crore. The deal will help GMR reduce its debt burden. CCI tweeted on Friday that the deal had been approved.
New Delhi: The Department of Telecommunications on Friday approved the merger of Indus Towers, the country’s largest mobile tower company with Bharti Infratel. Official sources gave this information. The combined company, formed after the merger, will have more than 1,63,000 telecom towers across the country, operating in all 22 telecom service areas. The combined company formed by the merger will be the world’s largest tower company except China. “DoT has approved the merger of Indus Towers with Bharti Infratel.” As per the plan, the combined company will have full ownership of the business of Bharti Infratel and Indus Towers. The…
New Delhi: The US-India Business Council (USIBC) on Friday said that it has appointed Vijay Advani as the new chairman of the global board of directors. Advani has held the post at a time when India-US bilateral trade is booming. is. It has increased to $ 160 billion in 2019. Advani has previously been CEO of Nuveen and also co-chairman of Franklin Templeton Investments. He has worked at the World Bank for over 10 years. “I am excited to be given the position of chairman of the USIBC’s global board of directors at this stage of strengthening ties between India…
New Delhi: On Friday, on the occasion of Maha Shivaratri, there was a holiday in Delhi Sarafa Bazar, due to which the business was not done. At the same time, both the precious metals have registered a sharp rise in the global market. According to information from London and New York, gold spot rose by $ 12.25 to around $ 881.02 to reach $ 1633.85 (Rs 117506.49) an ounce and April gold futures rose $ 2.70 to $ 1619.30 an ounce. Explain that one ounce is equal to 28.3495 grams. During this time, the silver spot rose by $ 0.14…
New Delhi: The country’s foreign exchange reserves swelled by $3.091 billion to a lifetime high of $476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to the RBI data. In the previous week, the foreign exchange reserves had increased by $1.701 billion to $473 billion. Foreign currency assets, a major component of the overall reserves, rose by $2.763 billion to $441.949 billion in the reporting week. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held…
New Delhi: The government has managed to save nearly ₹28,700 crore during the first nine months (April-December) of the current fiscal (2019-20) through Direct Benefit Transfer (DBT) regime. That’s almost enough to meet the expenses on ‘Medical & Public Health’ for which Union Budget 2020-21 has provided ₹29,774 crore, or meet 46 per cent of the budgeted expenditure on Mahatma Gandhi National Rural Employment Guarantee Programme, which has a provision of ₹61,500 crore in the Union Budget. According to official data, in the first nine months of the current financial year, Public Distribution System (PDS) or distribution of foodgrain at…
New Delhi: Reserve Bank of India Governor Shaktikanta Das said that efforts are on to include government securities, bond papers as soon as possible in the global indices and the central bank has already started talks with some institutions. The inclusion of the government securities in the global index will increase the flow of foreign funds into the country as many foreign funds monitor the global index. With the arrival of foreign funds in the country, the domestic capital will be available to the industries and will help to overcome their cash-strapped complaints. It is our endeavor to take it…
New Delhi: Depending on the use of personal loan, tax benefit can be given on that too. While taking a personal loan, it is not necessary for a borrower to state the purpose of that loan as it is an unsecured type of loan. But, you can get tax benefit if you use a personal loan for a specific purpose. If a personal loan is used for business, then the interest paid on it can be claimed as an expense to reduce its tax burden. If you are using it to buy, build, or renovate a home, then you can…
Mumbai: The aircraft engine maker Pratt & Whitney (P&W) has tied up with Air India Engineering Services Limited (AIESL) for maintenance of all types of engines. According to sources, the two companies may soon issue a joint statement in this regard. A320 Neo aircraft have P&W engines only. However, during the last four years many technical flaws have been found in the engines of these aircraft. IndiGo and GoAir have a significant number of these aircraft. P&W has tied up with AIESL for maintenance of its 4,056 model engines. These engines are fitted to Boeing 747 series aircraft. A spokesman…
New Delhi. The smartphone maker, Samsung, can introduce the twisted phone ‘Galaxy Z Flip’ in the Indian market this month. Its price is likely to be around 1.10 lakh rupees. Earlier this month, the company introduced this phone in the US market. The total market of such premium phones in India is estimated to be 3 million units. This phone will be available for booking at Samsung online store and select retail outlets from February 21 and will start supplying to customers from February 26. Earlier, the company launched another similar phone ‘Galaxy Fold’ in the Indian market in October…
Rules related to EPS pension can be changed New Delhi. Employees’ Provident Fund Organization (EPFO) can make a big announcement in the next 24 hours for the jobbers. According to information received from sources, EPFO is going to provide relief to pensioners (EPFO Pensions) soon. Pensioners taking advance pension amount can get the full amount of pension again. In simple words, the pension (EPS) deducted with PF can now be taken in advance. Till now this facility used to be with government employees. But now private employees will also get this facility. At present, 6.5 lakh people will benefit from…
New Delhi: Banks have enjoyed people’s trust, especially when it comes to safekeeping their money. However, the crisis in the Punjab and Maharashtra Cooperative (PMC) Bank no longer ago, where many depositors with higher fixed deposit (FD) amounts were not able to withdraw their deposits, has come as a shock to many investors. It also exposed the gross inadequacy of the deposit insurance cover of Rs 1 lakh given to each depositor in case of bank failure. This limit was introduced in 1993 and continued for almost 27 years. Budget 2020 has done damage control by raising the insurance cover…
New Delhi: Coal supply to the power sector of the public sector company Coal India declined by 6.8 percent to 37.79 million tonnes in the April-January period of the current financial year. In the same period of last financial year, the company’s coal supply to the power sector was 40.56 million tonnes. According to official figures, Coal India’s coal supply to power companies increased by 2.9 percent to 4.32 million tonnes in January from 4.2 million tonnes in January of the previous financial year. Singareni Collieries Company Limited, a subsidiary of Coal India, supplied 4.40 million tonnes of coal in…
Bengaluru: Technology consulting and digital solutions company Larsen & Toubro Infotech (LTI) has been included by the National Stock Exchange (NSE) in its ‘Nifty Next-50’ index. LTI gave this information in a release. The company was listed in July 2016. The company has recorded rapid growth in the last four years. The Nifty Next-50 index is computer-based in which companies are ranked in a free-flow manner by multiplying between the share price of the companies and the number of shares available in the market. LTI said it was an honor for the company to join the Nifty Next-50. It shows…
New Delhi: The country’s two-wheeler manufacturer Hero is going to launch its popular bike Super Splendor in BS6 avatar soon in India. Which was seen in many new color options with BS6 Splendor Plus. The price of the new Super Splendor bike can be 6 to 7 thousand rupees more than the current BS4 model. At the moment, let us tell you what special changes will be seen in the design and features of the new bike: The design of this bike has not been changed much as compared to the BS4 model, although it has redesigned headlamps with a…
New Delhi: Bike maker Honda’s scooter Activa has become the best-selling two-wheeler in the Indian market at this time. Honda Activa is at number one in the list of top 10 best seller two-wheelers of January 2020. The scooter has sold 234,749 units in January. The Activa is the best-selling two-wheeler in the country, according to data from the Society of Indian Automobile Manufacturers (SIAM). In January 2019, this scooter was sold 213,302 units. Hero’s Splendor is second in the list of top 10 two-wheelers in terms of sales. Hero Splendor sold 222, 578 units in January. Hero also had…
New Delhi: Adani Gas has got permission from the oil and gas sector regulator to divest from its parent company, as well as to sell stake to the French major energy company Total. Sources informed that the company has been approved by the Petroleum and Natural Gas Regulatory Board (PNGRB) after officially seeking permission. Earlier, PNGRB had canceled the license granted to Adani Gas for gas distribution in 13 cities. The reason for this was allegedly ‘cheating’ by not sharing the information about separation from the mother company. The company got this license during the ninth round of bidding in…
New Delhi: The Hinduja Group has also joined the race to take a stake in Yes Bank. Sources have said that the Hinduja Group is part of the consortium that is investing in Yes Bank. Hinduja Group has joined hands with Cerberus and JC Flowers to buy up to 10 per cent stake in Yes Bank. On the condition of anonymity, the source said that IndusInd Bank, owned by Hinduja Group, is not involved in this deal. According to sources, the investors have talked to the banking regulator RBI and asked about the pricing of the deal. The source said,…
New Delhi: Bharti Airtel chairman Sunil Mittal met Telecom Minister Ravi Shankar Prasad on Thursday and demanded a reduction in the tax and duties of the telecom sector. Mittal also said that Airtel is committed to comply with the Supreme Court’s decision on Adjusted Gross Income (AGR) arrears. He also said that the company will pay the remaining amount soon. He said, “The AGR case is an unprecedented crisis for the industry. It is being dealt with by the government. “Mittal said that the industry is being taxed at a higher rate at the moment. He demanded the government to…
Japanese two-wheeler manufacturer Honda has launched the new bike Honda Shine BS6 in the Indian market by updating the range of its vehicles to the new standard. The company has fixed the starting price of this new update Honda Shine BS6 at Rs 67,857. The company has not only updated the engine of this bike but has also added a 5 speed gearbox, which is a major change. According to the information, this new updated bike will soon start reaching the dealerships across the country. In the new Honda Shine BS6, the company has used a 125 cc capacity engine.…