Author: Finance Khabar
New Delhi: The World Bank has approved a program of more than $ 500 million i.e. 3600 crore rupees to support the initiative of the Government of India to help the MSME sector. On May 30, the government had announced to extend its Emergency Credit Line Guarantee Scheme (ECLGS) of Rs 3 lakh crore by three months. This scheme was extended from 30 June 2021 to 30 September 2021 or till an amount of Rs 3 lakh crore is released. The Finance Ministry had also announced 100% guarantee on loans up to Rs 2 crore for hospitals, nursing homes, clinics,…
New Delhi: Leading fertiliser cooperative major IFFCO on Sunday said it has started commercial production of nano urea liquid and dispatched the first consignment to Uttar Pradesh for use of farmers. Indian Farmers Fertiliser Cooperative Ltd (IFFCO) has priced nano urea liquid at Rs 240 per bottle, which is 10 per cent cheaper than the cost of a bag of conventional urea. It is a patented technology of IFFCO developed at its Nano Biotechnology Research Center, Gujarat. “IFFCO Nano Urea is a product of the 21st century and it is the need of hour to keep the environment soil, air…
New Delhi: Fugitive diamond merchant Mehul Choksi, who fled the country with thousands of crores of rupees from Indian banks, has claimed in an affidavit that he is a law-abiding citizen and had left India only for treatment in the US. Mehul Choksi has invited Indian officials for his interrogation. He said that he can ask whatever questions the Indian authorities want to ask about the investigation being conducted against him. According to the report of an English newspaper, the absconding businessman has filed an eight-page affidavit in the Dominica High Court saying that I have asked the Indian authorities…
New Delhi: Foreign portfolio investors (FPIs) have poured Rs 8,000 crore into the Indian stock markets in just four trading sessions in June. After the reduction in new cases of Covid-19 and better quarterly results of companies, the confidence of foreign investors towards the Indian markets has increased. Earlier in May, FPIs had withdrawn Rs 2,954 crore and in April, Rs 9,659 crore, according to depository data. Himanshu Srivastava, Associate Director-Manager Research, Morningstar India, said that going forward, with the improvement in the scenario on the corona virus front and intensification of vaccination campaign, FPI investment is expected to increase…
The market capitalization of 7 companies in the top 10 of Sensex increased by Rs 1,15,898.82 crore last week. Reliance Industries was the biggest gainer. Last week, the 30-share BSE Sensex was up 677.17 points or 1.31 per cent. Market valuations of Reliance Industries, HDFC Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Kotak Mahindra Bank increased in the week under review. On the other hand, the market capitalization of Tata Consultancy Services (TCS), Infosys and ICICI Bank declined. The market capitalization of Reliance Industries rose by Rs 60,668.47 crore to Rs 13,88,718.41 crore during the week.…
New Delhi: There has been another increase in vehicle fuel prices on Sunday. Due to this, the price of petrol in the capital Delhi has crossed Rs 95 per liter. At the same time, diesel crossed Rs 86 per liter for the first time. According to the price notification of the public sector petroleum companies, the price of petrol has been increased by 21 paise per liter and that of diesel by 20 paise per liter. Vehicle fuel prices have increased 20 times since May 4. With this, petrol has now reached a historic high in various parts of the…
Digital payments company Square is looking to create a hardware wallet for the cryptocurrency bitcoin, so that people investing in bitcoin can have complete control over the cryptocurrency. Square CEO Jack Dorsey, who is also the CEO of Twitter, tweeted that his company plans to build a bitcoin hardware wallet. Earlier on June 4 at the Bitcoin 2021 conference held in Miami, Jack Dorsey said that the bitcoin hardware wallet created by his company Square would be open source and would be hardware designed from software. He said that bitcoin belongs to everyone and no one should have control over…
India’s largest airline company Indigo has suffered a huge loss in the last quarter of the financial year 2020-21 and the company’s consolidated net loss has increased further. Indigo’s parent company InterGlobe Aviation Ltd’s net loss has increased to Rs 1,147 crore in Q4. Whereas, in the same quarter last year, the airline company had a loss of Rs 871 crore and in the previous quarter i.e. Q3 of FY21, the company’s net loss was Rs 620 crore. The company’s operating revenue declined by 25% to Rs 6223 crore in the March quarter from Rs 8299 crore in Q4 last…
New Delhi: The government’s May GST collection stood at Rs 1.02 lakh crore. This is the eighth consecutive month that the GST collection figure has crossed Rs 1 lakh crore. However, the GST collection for the month of May has been less than the record of Rs 1.41 lakh crore in April, 2021. By the way, the GST collection in May, 2021 is 65 percent more than the same month last year. In May, 2020, the GST collection stood at Rs 62,009 crore. Last year, economic activities were affected due to the lockdown at the national level due to the…
Meerut – Online Ludo has gained popularity among the online gamers, especially those looking to play competitive skill-based games. The online game is similar to the board game, with the key difference being the preponderance of skill, application of mind, and strategy in winning. In Ludo Supreme, one of the most popular skill-based Ludo games available, for example, the player’s decision-making, strategy, and understanding of the game determines the outcome of the game. To win a game of Ludo Supreme, the player has to utilise the randomly generated dice number efficiently, giving equal attention to all the four tokens. Which…
Jaipur: Doorstep diesel delivery is a new revolution in the field of energy distribution in Rajasthan which is easing the lives of the end-consumers without the hassles of diesel procurement. Four fuel entrepreneurs are bringing change in the fuel industry in Rajasthan with this door-to-door delivery model which includes Bikaner-based Hiralal Bhattar Petroleum. It has started the facility of doorstep diesel delivery through their mobile petrol pumps. This new fuel startup is run by Surendra Bhatter, who owns a Bharat Petroleum Corporation Limited (BPCL) retail outlet. “While having discussion with BPCL officials, they gave me the information so I thought…
New Delhi: Finance Minister Nirmala Sitharaman will hold a meeting with heads of public and private sector insurers on Saturday for faster settlement of claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) during the pandemic. Discussions are also likely to be held on simplifying the procedures and documentations needed to settle claims under the schemes in a seamless and time-bound manner, the finance ministry said in a series of tweets. As on May 5, total cumulative enrolment stood at 23.37 crore under PMSBY and 10.33 crore under PMJJBY. Since 2014, the…
Mumbai: The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.It had barred entities regulated by it from dealing in such instruments. RBI Governor Shaktikanta Das on Friday made it clear that the central bank’s view on cryptocurrencies like Bitcoin remains unchanged and it continues to have ”major concerns” on the volatile instruments. ”There is no change in RBI’s position (on cryptocurrencies). Our circular clarifies the position very well,” Das told reporters in the customary post-policy press conference when asked if there has…
New Delhi: Whether payment of salary, pension, interest and dividend or any other payment made on a large scale through the National Automated Clearing House (NACH), all these work will soon be done seven days a week. The Reserve Bank of India has said that the facility of payment through NACH is going to start from August 1, 7 days a week. RBI Governor Shaktikanta Das made this announcement while giving information about the bi-monthly monetary policy review. NACH is a bulk payment system, which is operated by NPCI i.e. National Payments Corporation of India. Payment of salary, pension, interest…
Mumbai: After the policy statement of the Reserve Bank, the domestic stock markets came under pressure today and the Sensex and Nifty closed in the red mark, losing early gains. The 30-share sensitive index Sensex of BSE closed at 52,100.05, down 132.38 points, or 0.25 percent. The Nifty of the National Stock Exchange also fell 20.10 points, or 0.13 per cent, to 15,670.25. On Thursday, both the indices closed at historic record levels. In the morning, the Sensex had gained about 257 points and the Nifty had gained about 43 points. But by the end of RBI Governor Shaktikanta Das’s…
On Thursday, the day of weekly expiry, Sensex and Nifty 50 have closed with a record high. During trading today, the Sensex opened at 52,121.58 points and reached 52,273.23 points. At the close of trading in the Sensex, it closed at 52,232.43 points with a gain of 382.95 points. Today 22 stocks were buying on the Sensex and they closed with gains while the remaining 8 stocks closed with a fall. Titan was the biggest buy on the Sensex and reached a record price so far. The market also got support from the banking sector and except IndusInd Bank, there…
Mumbai: Crude oil prices surged on Wednesday with the Brent crude trading above the $71 per barrel after OPEC projected demand improvement and tightening of the market. West Texas Intermediate (WTI) crude also continued its onward march after reaching its highest level since October 2018. In a statement, after the meeting OPEC+ meeting, the cartel in a statement said: “The meeting noted the ongoing strengthening of market fundamentals, with oil demand showing clear signs of improvement and OECD stocks falling as the economic recovery continued in most parts of the world as vaccination programmes accelerated.” Currently, the July contract of…
New Delhi: India’s merchandise exports in May 2021 rose to $32.21 billion, higher by 67.39 per cent over $19.24 billion in May 2020, the preliminary official data showed on Wednesday. Besides, exports last month recorded a 7.93 per cent growth over $29.85 billion in May 2019. The country’s merchandise exports in April 2021 had risen to $30.63 billion. Similarly, India’s merchandise imports in May 2021 were $38.53 billion, with an increase of 68.54 per cent over $22.86 billion in May 2020. However, imports declined by 17.47 per cent over $46.68 billion in April 2019. Consequently, trade deficit in May 2021…
New Delhi: The stock dipped 0.55 per cent to close at Rs 1,379.75 on the BSE. During the day, it went lower by 1.81 per cent to Rs 1,362.20. On the NSE, it declined 0.45 per cent to close at Rs 1,381. In traded volume terms, 19.07 lakh shares were traded at the BSE and over 92.72 lakh units at the NSE during the day. Sebi has barred eight entities, including two employees of Infosys, from the securities market for indulging in insider trading activities in the shares of the IT major. In a statement on Tuesday, Infosys said it…
In May this year, the country’s trade deficit increased by 74.69 percent to $ 6.32 billion as compared to May 2020. The trade deficit in May last year was $3.62 billion. The ministry has said that there has been a decline of 62.49 percent in comparison to May 2019, when it was $ 16.84 billion. According to the data released by the government, India’s exports increased by 67.39 percent to $ 32.21 million in May. According to preliminary data from the commerce ministry, in May last year, exports stood at $ 19.24 billion and in May 2019 it was $…