Author: Finance Khabar

New Delhi: India’s industrial production (IIP) declined by 3.6 percent in the month of February. This information has been received from the official data released on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector’s output fell 3.7 percent in February 2021. Mining output declined by 5.5 per cent, while energy production grew by 0.1 per cent in February. In February 2020, there was a 5.2 per cent increase in IIP. During April-February, the IIP fell by 11.3 per cent. There was an increase of one per cent in…

Mumbai: The domestic stock market has witnessed heavy selling today amid fears of lockdown due to Corona virus. On April 12, both the Sensex and Nifty indices fell sharply. The Nifty has again come down to 14400. At the same time, the Sensex has broken about 1700 points. Currently, the Sensex has a weakness of 1708 points at the end of trading and has closed at the level of 47,883. At the same time, the Nifty has also closed at 14311 level, weakening by about 524 points. Let us know that the graph of those infected with Corona virus and…

According to a study by IIT Bombay, in five years of 2015-20, SBI has taken service charges of about Rs 300 crore from zero balance accounts. Of this, a service charge of 72 crore was collected in 2018-19 and a service charge of Rs 158 crore in 2019-20. SBI also levied service charges for online transactions exceeding four in a month. According to a study by IIT Bombay, there has been a systematic violation of RBI regulations on BSBDA by some banks. The highest number of accounts of this type are SBI and SBI has also done a systematic breach…

New Delhi: The growing cases of corona cases are now having an impact on the Indian economy as well. So far this month, Foreign Portfolio Investors (FPIs) have withdrawn Rs 929 crore from the Indian market. In the last quarter of January-March 2021 of the last financial year 2020-21, the trend of foreign investors was in sharp contrast and they had invested in the Indian market. Earlier, FPIs had invested Rs 14,649 crore in January, Rs 23,663 crore in February and Rs 17304 crore in March. Thus, after the initial three months of investment in the current year 2020, due…

New Delhi: Corona cases are increasing rapidly across the country. Due to this, many states have imposed many restrictions on travel and trade. According to the Confederation of All India Traders (CAIT), the largest organization of the country’s business community, the retail market has suffered a loss of 30 per cent due to these restriction. Such measures such as night curfew, partial lockdown etc. imposed by the states to stop the corona infection have caused such a huge loss within just a week. According to CAT, lockdown and night curfew has created an atmosphere of fear in the minds of…

Insurance aggregator platform Policy Bazaar has got 5 new investors. Among the companies that have bought stakes in Policybazaar, Serum Institute of India, the country’s largest manufacturer of vaccines, is also involved. Prior to Policybazaar’s IPO, private equity fund manager True North Fund, one of its biggest investors, has reduced its stake in the company. True North had also sold some of its stake in the company in October 2020. However, the company has not yet disclosed how much share of True North has reduced in the policy market. Apart from the Serum Institute, investors in the policy market who…

Mumbai: In the previous week ended March 26, the reserves had decreased by USD 2.986 billion to USD 579.285 billion. The forex kitty had touched a record high of USD 590.185 billion in the week ended January 29, 2021. In the reporting week ended April 2, 2021, the decline in the reserves was mainly on account of a fall in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by USD 1.515 billion to USD 536.438 billion, weekly data by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, the foreign currency assets include…

Mumbai: The government on Friday started off the first G-Sec auction of this fiscal by raising Rs 32,853 crore, the highest weekly market borrowing since May 2020, at a rate lower than the last auction in 2020-21, Care Ratings said. The amount of Rs 32,853 crore — higher than the notified quantum of Rs 32,000 crore — has been raised at a rate of 6.14 per cent, indicating that the central bank’s liquidity and yield control moves are paying off. In the first G-Sec (government securities) auction of the new fiscal, the government has raised Rs 32,853 crore, the highest…

Mumbai: Equity benchmark Sensex dropped 155 points on Friday, tracking losses in index heavyweights ICICI Bank, Reliance Industries and HDFC Bank amid largely negative cues from global markets. The 30-share BSE index ended 154.89 points or 0.31 per cent lower at 49,591.32. Similarly, the broader NSE Nifty slipped 38.95 points or 0.26 per cent to 14,834.85. Bajaj Finance was the top loser in the Sensex pack, shedding around 3 per cent, followed by UltraTech Cement, NTPC, Axis Bank, ICICI Bank, IndusInd Bank, Reliance Industries, L&T and HDFC Bank. On the other hand, Sun Pharma, HUL, Tech Mahindra and Dr Reddy’s…

New Delhi: Reliance Industries Chairman Mukesh Ambani will appeal against the fine imposed by market regulator SEBI over alleged irregularities in a two-decade-old share issue in the company, the firm said on Thursday. Reliance Industries Ltd (RIL) had issued debentures with convertible warrants in 1994 and allotted equity shares against the warrants in 2000. This was when Dhirubhai Ambani was heading the undivided company. ”SEBI had issued a show-cause notice in February 2011 (more than 11 years after the acquisition of shares) to then promoter and promoter group (as in the year 2000) alleging violation” of takeover regulations, the company…

New Delhi: Coal India on Thursday said its capital expenditure (capex) grew more than two-folds to hit an all-time high of Rs 13,115 crore in the just concluded fiscal. CIL’s original sanctioned capex budget was Rs 10,000 crore for FY’21. ”Coal India Ltd (CIL) more than doubled its capital expenditure to an unprecedented high of Rs 13,115 crore in FY’21…. Against the capex of Rs 6,270 crore in FY’20, the company clocked 109 per cent growth amid the Covid slump,” the company said in a statement. This comes at a time when the Centre had advised CPSEs of the country…

MUMBAI: With the increase in most of the key indices globally, the Sensex and Nifty of the stock market recorded an increase at the domestic level, due to which the BSE 30-share Sensitive Index Sensex gained 84.45 points to close at 49,746.21 points and National Stock. The Nifty of Exchange (NSE) gained 54.75 points to reach 14,873.80 points. During this period, the BSE midcap gained 124.53 points, or 0.60 percent, to 20,777.81 points and the smallcap also gained 156.17 points or 0.73 percent to 21,449.57 points due to buying in big, medium and small companies. During this period, the consumer…

Dehradun: A cup of perfect Chai is a wishful thinking; the value of tea is much is more than that, it is a cup of happiness one urges for to begin their day – the thick sweet drink is an integral part of our lives especially in a country like India. It is not just a drink for us, but a ritual, a celebration and even a diversion from the regular affairs it is amongst the most popular drinks or beverages which is consumed by everyone. To tantalize your taste buds and give a plethora of menu options Chai Sutta…

Mumbai: The stock market has been pleased with the monetary policy of the Reserve Bank. Particularly, measures to maintain liquidity in the system have led to a spurt in bank shares. The Nifty has once again crossed 14800 due to the rise in bank shares. The Sensex has also closed stronger by over 450 points. Before this, the market also started with a boom. At the end of trading, the Sensex has gained 460 points to close at the level of 49662. At the same time, the Nifty has closed at 14809 levels with a gain of 125 points. There…

First in the sector, this association strengthens the Mobile Apps position as India’s largest network of technology enabled 24/7 e-garage serviceAUTO i CARE app aided essential services like Ambulances, Doctors, Police during Pandemic Lucknow: “Gaadi Bandh, No Fikar!’ is the new campaign featuring veteran actor Sayaji Shinde to help address car breakdowns, finding a car mechanic in 20mins and assist stranded vehicles anywhere, anytime through the mobile app AUTO i CARE, a leading player in providing 24×7 emergency roadside assistance. You would agree that having a vehicle breakdown has its physical and mental trauma on the owner, with Sayaji Shinde…

The Reserve Bank of India (RBI) has banned the acquisition of new credit card business at HDFC Bank due to technical glitches and outages in the last 2 years, despite these restrictions, the bank’s business growth has been impressive. HDFC Bank said that in the March quarter, the bank recorded a 14% growth in advances, while the bank’s deposits grew by 16.3%. By the end of March 2021, HDFC Bank’s advance has reached 11.32 lakh crore as compared to 9.94 lakh crore in the year-ago period. While retail loan growth was 7.5% year-on-year and domestic wholesale loan growth was 21%.…

MUMBAI: With the increase in most of the key indices globally, the Sensex and Nifty of the stock market recorded a marginal increase at the domestic level, whereas the stock market had fallen strongly on the previous trading day. The 30-share sensitive index Sensex of the BSE gained 42 points to end at 49,201.39 points and the National Stock Exchange (NSE) Nifty gained 46 points to reach 14,683.50 points. During this period, the midcap of BSE gained 201.97 points or 01 percent to 20,485.83 points and Smallcap also gained 175.11 points or 0.84 percent to 21,020.10 points due to buying…

Covers 43 Critical Illnesses, both initial and advanced stagesModular product allowing selection of waiting period, survival period and coverage from either or all 5 sections: Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care & Sensory Organ CareAdditional benefits like Dialysis care, Physiotherapy care, etc. in-built in the policy Lucknow: Bajaj Allianz General Insurance today announced the launch of ‘Criti-Care’ a unique critical illness policy that allows the customers to design their coverage by selecting any or all 5 sections within the policy, waiting period as well as survival period. This policy covers 43 critical illnesses, which include both…

New Delhi: South Korean auto major Hyundai on Monday said it has crossed 10 lakh cumulative sales milestone of SUVs made in India. These SUVs have been sold both in India and export markets, Hyundai Motor India Ltd (HMIL) said in a statement. The launch of mid-sized SUV Creta in 2015 accelerated Hyundai Motor India’s growth in the segment with cumulative sales of over 5.9 lakh units in the domestic market and over 2.2 lakh units in the export market, it added. Similarly, the company had introduced compact SUV Venue in 2019 and has already sold over 1.8 lakh units…

New Delhi: The report further said high-frequency data indicates that India is on the path to become better and stronger. Having successfully managed the first wave of the coronavirus pandemic, India is well prepared to combat the scourge of the second wave, the Finance Ministry’s monthly economic report said. The report further said high-frequency data indicates that India is on the path to become better and stronger. “After battling a historic pandemic in FY 2020-21, the Indian economy is poised to build back better and stronger as is reflected in the movement of several high-frequency indicators. “Instrumental in this resilient…