Author: Finance Khabar
New Delhi: Federation of Automobile Dealers Associations (FADA), on Saturday asked vehicle manufacturers to send only the BS-6 emission standard to the dealers as the Supreme Court has given the deadline for sale and registration of vehicles with BS-4 standard. Has refused to extend beyond April 1. FADA said the vehicle market has been down for more than a year. According to the current demand situation, it is now a big challenge for the dealers to fully sell the stock of the remaining BS-4 emission standard vehicles by March 31, 2020. FADA President Ashish Kale said in a statement, “FADA…
New Delhi: The impact of the corona virus continues to deepen. So far, more than 1600 people have died in China, while around 45 thousand people are said to be infected worldwide. Despite all efforts, doctors have so far failed to rein in it. Global trade has also come under the grip of Corona and hundreds of crores are being lost. According to a Times of India report, 28 per cent of India’s imports could be affected by this. Imports of 40 per cent of the chemicals from China depend largely on China for electrical machinery, mechanical appliances, organic chemicals,…
Mumbai: Withdrawing money from ATMs can be costly in the coming times. The country’s ATM Operators Association has asked the Reserve Bank of India (RBI) to increase the interchange fee. The association says that companies operating ATMs are not benefiting, so there is a need to increase the interchange fee charged to customers on cash withdrawal. These companies, which run ATM machines, argue that increased compliance and safety standards of RBI has resulted in increased cost of running teller machines, while no steps have been taken to increase their income, due to which It has become necessary to increase the…
New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das says that the country’s growth rate is expected to be six percent in the next financial year. At the same time, he said that the rate of reduction in the policy rate (repo rate) will improve further in the coming days. Along with this, the activities of raising loans in the economy have also improved. The central bank did not change the policy rate in its first monetary review policy of 2020 earlier this month due to rising inflationary pressures and global market conditions. In a meeting with reporters here…
New Delhi: Samsung today announced thrilling pre-book offers for consumers planning to buy Galaxy S20, Samsung’s latest series of flagship devices. Pre-booked consumers in India will receive their Galaxy S20 beginning March 6, 2020, being among the first set of consumers worldwide to own the stunning flagships. All three devices in the Galaxy S20 series— Galaxy S20, Galaxy S20+ and Galaxy S20 Ultra – will be available for consumers in India at the price of Rs 66,999, Rs 73,999 and Rs 92,999 respectively. Galaxy S20 series comes with several world-first camera innovations allowing stunning image and video quality. They are…
New Delhi: If the quality of medicines is found to be poor, now the companies marketing the drugs will also be responsible. The government has issued a notification to change the Drug Cosmetic Act to implement it. Until now, only manufacturing companies had fixed accountability. This rule will come into effect from March next year. The big companies which used to make medicines by making medicines from small companies, now they will also be the responsibility. The new law says that if adulteration in the drug is found, then it will be life sentence. The Drug Technical Advisory Board, the…
New Delhi: Despite the DoT order, no company paid the AGR till midnight yesterday. Bharti Airtel has promised to give the first installment of 10 thousand crores by February 20, so far no information has been received from Vodafone. Companies have not paid AGR. No one paid the dues despite the DoT order. Let me tell you that by midnight tomorrow the deadline to give AGR is over. Meanwhile, Bharti Airtel has written a letter to the Department of Telecommunications. In which it is said that the company will make a payment of 10,000 crore by 20 February. The company…
Mumbai: Go-Air, promoted by the Wadia Group, said on Friday that it has appointed Vinay Dubey as Chief Executive Officer (CEO). Dubey was an advisor to the aviation company. He left Jet Airways in May last year to come here. GoAir’s board of directors has approved Dubey’s appointment as CEO and will report to the chairman, managing director and board. The post of CEO at Go Air was vacant following the departure of Cornelis Wrijwijk in March last year. Dubey has served in various positions including senior vice president-Asia Pacific at Delta Air Lines, CEO at Delta Technology LLC, vice…
Due to the increasing demand for electric scooters in the Indian market, two-wheeler manufacturers are launching more than one scooter. Recently, the country’s leading electric two-wheeler manufacturer Ather Energy has launched its new Ather 450X in the market. Since the launch of Ather 450X, there has been doubt about its prices. However, the company has revealed the price of this scooter, and these prices have been kept between Rs 1.49 lakh and Rs 1.59 lakh. Let me tell you, this scooter has been launched by the company under the monthly subscription plan, in which if you choose the subscription, then…
New Delhi: Income tax department gets target – bring two lakh crores till March, posting will also be the basis of recovery Income tax department got directive to deposit tax of Rs 2 lakh crores by March. During a recent event, Prime Minister Narendra Modi raised the issue of taxation by very few Indian citizens. Now two days after this, the government has targeted the Income Tax Department to collect tax of Rs 2 lakh crore by March. This target amnesty scheme is given under the ‘Vivaad se Visvaas’, whose deadline is June 2020. The bill is yet to pass…
Integration progressing well with 86% districts consolidated Highlights for the Quarter • Revenue grew by 2.3% QoQ supported by strong growth in 4G additions; average daily revenue (ADR) returned to growth after 14 quarters of decline (except Q4FY19: +2.3% QoQ). • 4G subscriber base now 104.2 million; 4G net additions accelerated to 8.3 million during the quarter. • Synergy realization on track with ~85% of the guided synergy achieved by Q3FY20. • 86% of districts consolidated driving a significant improvement in network speeds, leading to enhanced customer experience. • Fastest 4G network in the three metros – Delhi, Mumbai and…
New Delhi: After the Supreme Court rebuke, the Department of Telecommunications has issued orders to telecom companies like Bharti Airtel and Vodafone Idea to pay the statutory dues before midnight on Friday. The Supreme Court pulled up the department for prohibiting collection of dues from telecom companies. After that, the Department of Telecommunications has started sending notices to companies regarding dues on a circle basis. Uttar Pradesh (West) Telecom Circle issued notice to all telecom service providers on Friday asking them to pay the dues by 11.59 on Friday. It states, “… you are directed to pay the outstanding amount…
New Delhi: Public sector Oil and Natural Gas Corporation (ONGC) net profit on a standalone basis declined by 49.8 percent to Rs 4,152 crore for the quarter ended December 2019 due to lower oil and natural gas prices and declining production. ONGC, in a statement on Friday, reported a net profit of Rs 8,263 crore in the same quarter a year ago. The company received $ 59.73 on the oil produced in the quarter under review, which is 10 percent lower than the year-ago quarter of 2018-19. At the same time, the price of natural gas was down 4 per…
New Delhi: Sun TV Network’s integrated net profit related to television and radio broadcasting service increased 7.15 percent to Rs 384.69 crore for the quarter ended December 2019. Sun TV said in a report to the Bombay Stock Exchange that the company had a net profit of Rs 359.01 crore in the same quarter of FY 2018-19. However, the company’s revenue fell 7.89 percent to Rs 914.17 crore in the quarter under review. Whereas it was Rs 992.58 crore in the third quarter of 2018-19 a year ago.
Mumbai: The country’s foreign exchange reserves rose by $ 1.701 billion in the week ended February 7, reaching an all-time record high of $ 473 billion. This information has been given in the latest data of the Reserve Bank. In the previous week, the country’s foreign exchange reserves had increased by $ 4.607 billion to $ 471.3 billion. Foreign currency assets have increased as foreign currency assets have increased in the week under review. During this period foreign exchange assets increased by $ 1.938 billion to $ 439.186 billion. During this period, gold reserves declined by $ 218 million to…
London: Liquor businessman Vijay Mallya has claimed that the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have treated him unfairly in the last four years. Mallya (64), former boss of Kingfisher Airlines, is appealing against the extradition order to India on charges of alleged fraud and money laundering of Rs 9000 crore. Mallya’s lawyers said in the British High Court this week that he had been the victim of a disaster on the aviation industry and that he had no intention of manipulating the airline to seek a loan for the now-shutdown. The Crown Prosecution Service (CPS),…
Mumbai: The Sensex and Nifty fell nearly half a percent on Friday. Earlier on Thursday, the market closed in red. The pressure on banking stocks increased due to the strict stand of the Supreme Court on the non-payment of revenue arrears of Rs 1.47 lakh crore by telecom companies. The 30-share BSE Sensex fell 202.05 points, or 0.49 per cent, to close at 41,257.74. The 22 stocks included in the index closed at a loss. The NSE Nifty fell 61.20 points or 0.50 percent to close at 12,113.50. Banking, auto, FMCG and energy stocks were sold during the day. The…
New Delhi: Car maker Maruti Suzuki launched the CNG variant of its budget range, the popular car WagonR. The ex-showroom price of the WagonR BS6 S-CNG variant has been kept at Rs 5.32 lakh. The CNG model of the WagonR has been launched only in the LXI trim. This is the company’s third model launched with S-CNG technology. Earlier, Maruti Suzuki has also launched the CNG model of Alto 800 (Alto 800) and MPV category car Artiga (Ertiga). The car is part of the company’s ‘Mission Green Million’ that the company announced at the Auto Expo 2020. The CNG model…
New Delhi: The way has been cleared to build the National Gas Exchange. According to sources, PNGRB has got the approval of the Law Ministry to regulate the gas exchange under the existing rules. The Law Ministry has approved the exchange / trading hub. According to sources, PNGRB Act will be amended if required. PNGRB approached the Ministry of Petroleum after the Legal Advisor report. Legal Advisor DSK questioned the authority of PNGRB. According to Legal Advisor, PNGRB does not have the authority to regulate trading hubs. The Legal Advisor also stated that PNGRB does not have the authority to…
New Delhi: Finance Minister Nirmala Sitharaman said on Friday that the government is ready to take more steps apart from budget announcements if needed to speed up the economy. In a discussion with professionals from asset management, property consultancy, tax advisors and other related services on the subject of ‘Budget and beyond’, the Minister also said that the budget for 2020-21 is one that has a positive impact on equity, bonds and money markets. Sitharaman said, “If there is a need to do more than the budget, we are ready to do it.” During the discussion, professionals made several suggestions…