Author: Finance Khabar
New Delhi: For the first time in the last 4 decades in the country, there has been a decline in consumer spending. This was said in the report of the National Statistics Office about a month ago. Bimal Kumar Roy, then chairman of the National Statistical Commission, had spoken of publishing this report. However, now the institute has decided not to release the report. On the question of not releasing the report, Roy said, “I tried. The survey was proposed to be released, but I did not get support. I had proposed this as chairman, but it did not go…
New Delhi: The central government is trying hard to avoid the application of bankruptcy of the telecom company Vodafone-Idea in front of the National Company Law Tribunal (NCLT). The government is trying to salvage the entire telecom sector from this difficult period. Vodafone-Idea has already made it clear that it is impossible for him to pay 53,000 dues of AGR outright. He has definitely shown preparations to make this payment in 15-20 installments. Under this, he has deposited the first installment of 2500 crores. Bharti Airtel Company wants to pay the arrears of 35,000 crores in 10 years without penalty…
New Delhi: SBI Cards and Payment Services, the credit card unit of the country’s largest bank, State Bank of India, has received IPO permission from SEBI. The company applied to Sebi in November for this. SEBI has given its approval to the company on 11 February. As per the application documents SBI Card will offer up to 130,526,798 shares in this IPO. Of this, 37,293,371 shares will be offered for sale by SBI and 93,233,427 shares will be offered for sale by Carline Group. State Bank holds 76 per cent stake in SBI Cards and the rest is held by…
London: Renowned businessman and retired chairman of the Tata group, Ratan Tata has been awarded an honorary doctorate by the University of Manchester for his contribution to innovation and philanthropy. The University of Britain said the 82-year-old industrialist was conferred the title recently during the visit of Vice Chancellor Professor Dame Nancy Rothwell to India. Rothwell said that Ratan Tata is very inspiring and he is an example for researchers, for big businesses and small enterprises.
Offers, instant cashback of 2200INR+25GB additional 4G data from Reliance Jio New Delhi: Building on the vision of being the enabler in the budget smartphone segment, itel, the leading Smartphone brand from TRANSSION India has launched a category disruptor – Vision 1, under its newly introduced Vision series in India.Designed with advanced functionalities, the game-changer, Vision1 is set to push the boundaries of a smartphone experience with India’s most affordable offering: HD+ IPS Waterdrop Display and Big Batteryonly at Rs 5499. The Vision 1 comes packed with free itel Bluetooth wireless headset worth Rs799, from its recently launched accessories portfolio…
New Delhi: Reserve Bank Governor Shaktikanta Das said on Monday that structural reforms will have to be used to improve demand and give impetus to a sluggish economy. He said that the economic growth, which has fallen to a minimum level of 11 years, is now showing early signs of improvement. This improvement in the situation needs to be sustained for a long time. Das said that every policymaker needs to closely monitor the impact of the corona virus in China so that appropriate measures can be taken accordingly. RBI Governor said that the 2020-21 Budget and recent steps by…
New Delhi: Private equity and venture capital investments into India hit an all-time high of $48 billion in 2019, Padmanabh Sinha, Chairman, Indian Private Equity and Venture Capital Association (IVCA), has said. “Private equity and venture capital has become the anchor of the economy and is now the largest source of FDI. It is one of the few shining spots in the economy even while facing global headwinds and domestic issues”, Sinha said at the IVCA conclave 2020 in the capital. A EY India report released on the occasion showed that over the past three years, PE/VC investments in India…
Mumbai: Praveer Sinha, Chief Executive Officer and Managing Director of Tata Power has said that we plan to increase the number of charging stations for electric vehicles. Under this, the number of such stations will be 700 by next year. The company has already set up 100 fast charging stations. These stations have been established in cities like Delhi, Mumbai, Bengaluru, Pune and Hyderabad. The company plans to increase its number to 300 by March 2020. “We are looking at places where electric vehicles are introduced and we are setting up charging stations in those cities,” Sinha said. Our aim…
New Delhi: Technology company Microsoft has set up its new development center in Noida adjacent to Delhi. The company informed on Monday that it is its third such center in the country which will serve as an engineering and innovation center. The company has informed about the establishment of this center shortly before the visit of Microsoft CEO Satya Nadella to India later this month. “The center is based on Microsoft’s vision of developing a global impact solution using India’s world-class engineering talent,” the company said in a statement. This ‘Bharat Vikas Kendra’ of the company is in line with…
MUMBAI: The Sensex and Nifty closed down on Monday on a sustained decline in selling of oil and gas and finance sector stocks. The 30-share BSE Sensex index fell by 202.05 points, or 0.49 per cent, to close at 41,055.69. Similarly, the NSE Nifty lost 67.75 points, or 0.56 percent, to close at 12,045.80. Shares of 19 Sensex companies closed down. While the stock of 11 companies showed a bullish trend. ONGC, Sun Pharma, NTPC, Bajaj Auto and HDFC shares in the Sensex closed down. Titan, Nestle, TCS, Kotak Bank and Tata Steel saw an upward trend in the stock.…
New Delhi: The Life Insurance Corporation said on Monday that it has got its subsidiary LIC Housing Finance Limited. (LICHFL) has no proposal to merge with any other entity. This statement of LIC came after reports in some reports. It states that the insurance company LIC Housing Finance can merge its bank entity IDBI. Life Insurance Corporation of India (LIC) stated in the clarification, “In fact there is no proposal of merging LIC Housing Finance into any other entity. Whatever is rumored in the market is not based on facts. ” IDBI Bank clarified in a separate notice that no…
New Delhi: The Supreme Court on Monday turned down Vodafone’s proposal to deposit Rs 2500 crore today and Rs 1,000 crore by Friday in the case of payment of Adjusted Gross Income (AGR) arrears. Apart from this, the court did not relieve the company from taking any punitive action against it. A bench of Justice Arun Mishra, Justice S Abdul Nazir and Justice MR Shah refused to accept the motion of advocate Mukul Rohatgi, appearing for Vodafone. Rohatgi had told the bench that the company is ready to pay Rs 2,500 crore on Monday from the statutory dues of AGR…
New Delhi: India has become very cautious about the deadly corona virus outbreak across the world. To ensure that there is no shortage of medicines in the country, the government may ban the export of about 12 drugs including antibiotics, vitamins and hormones. The move aims to maintain the availability of essential medicines in India. Hubei province of China has the highest outbreak of corona virus and it is from this province that the Indian pharmaceutical industry imports the highest raw material or active pharmaceutical ingredients (APIs). Although there is no shortage of medicines in the country at the moment,…
99.4% death claims received settled in one day under Claim For Sure Meerut: ICICI Prudential Life Insurance Company’s service initiative titled – ‘Claim For Sure’ promises to settle death claims in 1(one) day. The loss of a loved one, especially the breadwinner, causes significant emotional and financial distress. With the ‘Claim For Sure’ service initiative, the Company aims to alleviate the financial distress caused to families due to this loss. Policies which have been continuously active for three years, do not require any investigation and where the total claim amount does not exceed ` 1.5 crores qualify for settlement under…
Under-construction properties are sincerely more low-cost than prepared-to-pass-in units, and that’s one reason why they were so popular amongst shoppers throughout the actual estate growth a decade in the past. However with growing cases of put off and defaults, shoppers’ confidence in beneath-creation houses has eroded. A recent domestic loan product by means of the State Bank of India (SBI), Residential Builder Finance with client guarantee scheme, objectives to repair the self assurance by presenting to pay returned the most important borrowed in case the developer defaults. The concept sounds correct, but should you go for it? SBI’s new loan…
TransUnion CIBIL’s latest report (Q2 CY19) showed growth decelerating further across most consumer lending categories (13% y-o-y) due to moderating macro-economic conditions. Origination volumes grew in credit cards and personal loans but declined or grew marginally for home loans, auto loans and LAP. Overall receivables grew 41% y-o-y led by 30% y-o-y volume growth and 8% y-o-y automatic transfer service (ATS) growth. About 45% of origination volumes come from consumers in the age group of 25-35 years. There was no major change in proportion of below-prime customers in originations. Unsecured loan products have lower headline delinquency ratios primarily on account…
New Delhi: Airtel has paid 10000 crores out of the AGR statutory dues after the Supreme Court rebuke and the government’s strictness. “A total of Rs 10,000 crore has been paid by Bharti Airtel, Bharti Hexacom and Telenor,” the statement said. Let me tell you that on Friday, the Supreme Court had reprimanded the top telecom companies for delay in payment of AGR statutory dues. After the rebuke, on Friday evening, the department directed telecom companies to repay the outstanding amount of Rs 1.47 lakh crore by midnight. The Department of Telecommunications had said that Bharti-Airtel, Vodafone-Idea and other companies…
New Delhi: Moody’s Investors Service has cut India’s 2020 Gross Domestic Product (GDP) growth forecast to 5.4 percent from 6.6 percent. At the same time, it has cut the 2021 GDP growth forecast to 5.8 percent from 6.7 percent. Weakness across global economy due to the impact of the novel coronavirus outbreak could hurt India’s recovery, Moody’s said. Any recovery in the country may be slower than expected, it added. The business and financial services company has said citing ‘high frequency data’ that India’s economy may have stabilised. In the second quarter of the current fiscal year, GDP growth fell…
New Delhi: The Inter Ministerial Group has approved the sale bid document for the privatization of Bharat Petroleum Corporation Limited (BPCL), the country’s second largest oil refinery company. After the approval of the Group of Ministers, notice will be issued for inviting bids. The Inter-Ministerial Group (IMG) consists of representatives from the Ministry of Finance, Petroleum, Law, Corporate Affairs and the Department of Disinvestment. The group has approved letter of interest and preliminary information memorandum (PIM) for the company. According to sources connected with the case, it will now be placed before the alternative arrangement made for approval. This arrangement…
New Delhi: Mahindra’s most famous ride THAR has been seen once again during testing in India. From which it can be guessed that the production version of Thar is fully ready. Till now, there were speculations that the company would officially introduce it at the 2020 Auto Expo to be held in February. However, this did not happen. And now the company can launch this car in the coming days. The 2020 Mahindra Thar model that has been spotted during road-testing is its soft-top variant. It will get 7 slate grills, new headlamps, flared wheels and a new bumper. In…