Author: Finance Khabar
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…
Hyderabad: Finance Minister Nirmala Sitharaman said that at present there is no government planning to abolish income tax related exemptions and concessions. Regarding the new tax system, he said that the aim is to promote simple, exempt and low rates of tax. Sitharaman said that the government has taken a step forward in this direction. The new system includes some exemptions and eliminates some exemptions. Our effort is to gradually eliminate all exemptions and taxpayers have to pay tax at a lower rate. A new tax system was introduced in this budget, under which the tax rate has been reduced,…
Dubai: The head of the International Monetary Fund (IMF) said on Sunday that the corona virus epidemic this year could hurt global economic growth, but could see a rapid economic recovery after that. IMF managing director Kristalina Georgieva told the ‘Global Women’s Forum’ in Dubai, “(growth rate) may decline, we estimate the decline to be around 0.1–0.2 percent.” He said that more than 1,600 people have already died from this disease and its full effect depends on how quickly the disease is controlled. Georgiva said, “I would advise everyone not to reach any conclusion in a hurry.” Much is still…
New Delhi: The government has decided to infuse Rs 1,300 crore into the public sector Indian Export-Export Bank (Exim Bank) for its business growth. Last year, the government increased its authorized capital in the bank from Rs 10,000 crore to Rs 20,000 crore. As per the budget documents presented in Parliament this month, “Exim Bank’s contribution to raise the paid-up capital to its authorized capital Provision has been made (Rs. 1,300 crore). “This is Rs 350 crore more than the provision made by the government for the current financial year. The government had made a provision to infuse Rs 950…
New Delhi: Realty company DLF plans to raise up to Rs 2,000 crore by selling some commercial plots. The company has given this information in a presentation to the investors. The company said that it will sell these plots to existing joint venture partners or new partners. The company said it had a net debt of Rs 4,866 crore at the end of the December quarter. These deals will help him reduce debt. DLF said that it is committed to further reduce debt in the near future. The company said, “Sales of certain commercial plots to existing partners or new…
New Delhi: The Financial Year of the Reserve Bank of India and the Central Government can be similar. The central government’s financial year starts from April 1 and ends on March 31 while the RBI’s financial year starts from July 1 and ends on June 30. In such a situation, the RBI board has also recommended the RBI to start the financial year from April 1. A proposal will be sent to the central government to get approval in this regard. According to media reports, according to an RBI official, these changes can be implemented with the financial year 2020-21.…
New Delhi: The country’s largest carmaker, Maruti Suzuki India, will take on the aggressive competition in the face of increased competition due to new companies. A top company official made this comment. Maruti Suzuki has a 50.59 percent share in the domestic passenger vehicle market from April to January in the current financial year. Kenichi Ayukawa, the company’s managing director and chief executive officer said, “I am not getting defensive, I am being aggressive. If their products are good, we will try to leave them behind. “Competition in the domestic market is intensifying with the arrival of new companies like…
New Delhi: Oil India may go to TDSAT this week against the DoT’s demand to provide around Rs 48,500 crore as the previous arrears of additional bandwidth capacity. The company’s chairman and managing director Sushil Chandra Mishra gave this information. This capability was leased by the company to third parties. Other non-telecom companies can also approach the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) for similar demands. GAIL India Limited, Power Grid Corporation and Gujarat Narmada Valley Fertilizer & Chemicals Limited can go to TDSAT. Rs 1.83 lakh crore has been sought from GAIL India, Rs 21,953.65 crore from Power…
New Delhi: Gold imports in the country declined by nearly 9 percent to $ 24.64 billion (Rs 1.74 lakh crore) during April-January in the current financial year. The import of the metal was $ 27 billion. The country’s trade deficit was reduced to $ 133.27 billion in the April-January period from a decrease in gold imports as compared to $ 163.27 billion in the same period a year ago. The yellow metal imports have been declining since July last year. . However, there was positive growth in October and November last year. There was a decline of about 4 percent…
New Delhi: In the absence of any major activities this week on the domestic front, further moves in the stock market will depend on global trends. This week, which has a limited business day due to holidays, may also reflect the impact of news related to the corona virus on the market sentiment. The stock markets will remain closed on Friday on the occasion of Mahashivaratri. In this way, business will take place for four days. Siddharth Khemka, head (retail research), Motilal Oswal Financial Services Ltd said, “Going forward, the market will remain in a limited range in the absence…
New Delhi: South Korea’s automobile manufacturer Hyundai has released the first teaser image of the i30 facelift. The new teaser image shows the N line model, with revamped grille, redesigned bumpers and new LED headlights. However, the car’s LED headlights and design resemble the company’s Next Generation i20 hatchback. The Hyundai i30 will get new rear bumper and taillights as well as new alloy wheels. At the same time, a new digital instrument cluster and 10.25 inch infotainment touchscreen system will be available in its cabin. The refreshed design in the European market will feature i30 N hot hatch, i30…
Market capitalisation increased for eight of the top 10 companies New Delhi: Market capitalisation of eight of the country’s top 10 companies increased by Rs 1.09 lakh crore last week. Reliance Industries was the biggest gainer in this. Apart from this, the market capitalisation (M-cap) of Tata Consultancy Services (TCS), Hindustan Unilever, ICICI Bank, Bharti Airtel and Bajaj Finance has also increased. HDFC Bank and HDFC were the only companies in the week ended on Friday with a decline in market capitalisation. During this period, the market capitalisation of Reliance Industries increased by Rs 33,534.56 crore to Rs 9,42,422.58 crore.…