Author: Finance Khabar
New Delhi: Despite the second wave of Covid-19 pandemic, there was an increase of 13.73 per cent net subscribers during April as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exits in the April have declined by 87,821 and rejoining has increased by 92,864 subscribers as compared to March this year. “Of the 12.76 lakh net subscribers added during the month, around 6.89 lakh new members have come into the social security coverage of EPFO for the first time. Around 5.86 lakh net subscribers exited…
If you have not filed your income tax return yet, then submit the ITR by June 30, otherwise you will have to pay double TDS after that. If a taxpayer has not filed TDS in the last 2 years and the deduction of TDS in each year exceeds Rs 50,000, then the Income Tax Department will charge a higher fee while filing ITR from July 1. After the implementation of the Finance Act 2021, changes have been made in the rules of TDS. These changes are related to TDS Rules for goods purchase and those who do not file ITR…
Mumbai: The country’s foreign exchange reserves rose for the 10th consecutive week to reach a record high of over $608 billion. With this, India has become the fourth largest country in the world in this respect, overtaking Russia. According to the data released by the Reserve Bank of India today, the country’s reserves of foreign exchange increased by $3.07 billion to $608.08 billion for the week ended June 11. Earlier in the week ended June 04, it had risen by $ 6.84 billion to a record high of $ 605.01 billion and was lower by a marginal margin than Russia.
New Delhi: Two-wheeler maker India Yamaha Motor as part of its ‘The Call of the Blue’ campaign has launched FZX, the first neo-retro motorcycle in India with prices starting at Rs. Announcing this today, the company said that the FZX has been designed with a neo-retro design theme, which gives a nostalgic feel. Along with this, industry-leading technology has been used in it to meet the riding needs of the youth. It is designed to be a great riding partner in various riding conditions and is powered by an air-cooled, 4-stroke, 149 cc, SOHC engine.
Mumbai: The 30-share BSE Sensex ended 21.12 points or 0.04 per cent higher at 52,344.45, while the broader NSE Nifty inched 8.05 points or 0.05 per cent lower to 15,683.35. Equity benchmarks Sensex and Nifty ended on a flat note after a volatile session on Friday amid a largely negative trend in global equities. The 30-share BSE Sensex ended 21.12 points or 0.04 per cent higher at 52,344.45, while the broader NSE Nifty inched 8.05 points or 0.05 per cent lower to 15,683.35. ONGC was the top loser in the Sensex pack, shedding around 4 per cent, followed by NTPC,…
New Delhi: The partnership includes governments, community colleges, non-profits, and employment agencies that are focused on improving underserved populations’ skills and employability. Tech giant IBM has partnered with 30 global organizations, including 11 from India that will contribute to the company’s goal of training 500,000 people by the end of the year through its SkillsBuild program. The partnership includes governments, community colleges, non-profits, and employment agencies that are focused on improving underserved populations’ skills and employability. Some of the partner organizations include The American Indian Foundation Trust, Andhra Pradesh State Skill Development, CSC Academy, CSRBOX, Edunet Foundation, Training Point, Reach…
New Delhi:Air India through MSTC invites e-auction bids for sale of the properties located across India, according to a public notice. Disinvestment-bound Air India is looking to raise Rs 200 to 300 crore by selling commercial and residential real estate assets in different parts of the country. Air India on Friday sought bids for a slew of properties, including flats and plots. “Air India through MSTC invites e-auction bids for sale of the properties located across India,” according to a public notice. A residential plot and a flat in Mumbai, five flats in New Delhi, a residential plot in Bangalore,…
Walmart Inc., Flipkart and Amazon.com Inc. have challenged orders against resuming antitrust investigations into their business practices. The Competition Commission of India (CCI) had launched an investigation in January last year after a complaint alleged that Flipkart and Amazon were using huge discounts to promote select sellers on their e-commerce platforms and reduce competition. was alleged. The companies have denied wrongdoing and immediate legal challenges from both companies stalled the investigation for more than a year. However, last week, a court while delivering the verdict dismissed the CCI’s pleas of lack of evidence.
Mumbai: The 30-share BSE index ended 178.65 points or 0.34 per cent lower at 52,323.33. The broader NSE Nifty declined 76.15 points or 0.48 per cent to 15,691.40. IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by Dr Reddy’s, NTPC, Maruti, Axis Bank, Bajaj Auto, Bharti Airtel and HDFC. On the other hand, UltraTech Cement, TCS, Asian Paints and Infosys were among the gainers. “Bulls stepped back a bit following the economic forecast by the US Federal Reserve as the street stayed cautious on the slow economic recovery in emerging markets unlike…
New Delhi: Microsoft Corporation has named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. On Wednesday, it announced that the independent directors of the board unanimously elected the Indian-origin Nadella. According to The Verge, it is the first time in two decades that Microsoft’s chairman will also be its CEO, after the software giant’s co-founder Bill Gates originally stepped down as CEO in 2000. Also, Thompson, who took over as chairman from Bill Gates in 2014, will serve as lead independent director. Nadella was appointed Microsoft CEO in 2014 after taking over the position…
Kolkata: Leading telecom operator Vodafone Idea on Thursday announced the availability of eSIM for its postpaid customers for compatible devices in Kolkata. An eSIM is a digital SIM that allows one to activate a cellular plan from a carrier without having to use a physical nano-SIM. It is a small chip inside the phone. The technology will enable postpaid customers “to enjoy the benefits of convenience and flexibility of having more than one sim even on a single sim device,” Vodafone Idea Cluster Business Head- (East), Shivan Bhargava said in a statement. The company’s eSIM service is now available in…
New Delhi: India has allowed Chinese companies to participate in the country’s government projects. According to the decision of the government, now domestic companies will be able to bid for government projects together with Chinese companies through technology transfer agreement. This is in contrast to the government’s stand that last year, amid the ongoing dispute with China, steps were taken to prevent Chinese companies from doing business in India in every possible way. According to industry sources, the relief given by the government has made it possible for Chinese companies to operate in the Indian market. Since the beginning of…
New Delhi: India’s fuel demand rebounded in the first half of June as easing of coronavirus lockdowns helped sales but the consumption was still lower compared to last year. While petrol sales rose by 13 per cent during June 1-15 over the same period of last month, diesel consumption was up 12 per cent, according to data compiled by state fuel retailers. This is the first monthly increase since March. Fuel demand had recovered to near-normal levels in March before the onset of the second wave of Covid-19 infections led to the reimposition of lockdowns in different states, stalling mobility…
New Delhi: Former Finance Minister P. Chidambaram has alleged that contrary to the claims of Finance Minister Nirmala Sitharaman, GST dues of Congress-ruled states Rajasthan and Chhattisgarh are yet to be cleared. “More numbers on GST dues. For Rajasthan, the GST dues upto 31-3-2021 were Rs 4,635 crore. This number was mentioned in CM’s letter to FM. In 2021-22, add another Rs 2,507 crore upto May. Total dues, so far, are Rs 7,142 crore “For Chhattisgarh, GST dues upto 1-6-2021 are Rs 3,069 crore. Yet, the FM claimed that she had cleared GST dues to all states!” the former union…
New Delhi: Social media platform Twitter has lost its status of intermediary platform in India over non-compliance to the new intermediary guidelines. As a result of the development, the company has lost its legal shield in the country from prosecution over posts. “Twitter has lost its status as intermediary platform in India as it has not complied with new guidelines,” an official source said. Further, in a series of Tweets, Union Electronics and IT Minister Ravi Shankar Prasad said that there are numerous queries arising as to whether Twitter is entitled to safe harbour provision. “However, the simple fact of…
New Delhi: Benchmark indices Sensex and Nifty retreated from record high levels on Wednesday following intense selling in Reliance and HDFC twins as investors turned cautious ahead of the outcome of the US Federal Reserve’s policy meeting. The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64 per cent to 15,767.55. PowerGrid was the top laggard in the Sensex pack, shedding around 2 per cent, followed by IndusInd Bank, Reliance, L&T,…
New York:Bitcoin climbed to shy of $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it. Bitcoin has gyrated to Musk’s views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment. He later said the electric car maker would not accept bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change. “When there’s confirmation…
New Delhi: Max Life Insurance on Tuesday reported a 33 per cent jump in death claim settlements to over Rs 885 crore for the financial year 2020-21. The private sector insurer said its claim settlement ratio also touched an all-time high at 99.35 per cent during the year. It represents the ratio of the number of claims paid against the number of claims filed during a particular time frame. Max Life Insurance has paid 19,922 death claims worth Rs 885.57 crore during the financial year 2020-21. With this, the company has achieved an all-time high individual death claims paid ratio…
Mumbai: The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group”s bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortgage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to…
New Delhi: According to a survey conducted by the Association of India (RAI), retail sales in May 2021 fell by 79 per cent as compared to May 2019 in the pre-corona period. The biggest decline in sales was in western and northern India, where retail sales fell by 83 percent in May 2021 compared to the same period two years ago. . According to the RAI survey, there was a greater decline in sales in May than in April 2021. In April 2021, there was a decline of 49 per cent in comparison to April 2019 two years ago. Restrictions…