Author: Finance Khabar

Mumbai: To broaden its services for the start-up sector, the lender Yes Bank has tied-up with GVFL Limited. Accordingly, the two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem. “The MoU will enable the bank to offer various products, digital banking solutions, and many other facilities that will benefit the startups associated with GVFL Limited,” said Yes Bank in a statement. “The bank will offer its curated digital transaction banking product suite, including its flagship API-based offerings to the startups and FinTech companies.” Furthermore, the MoU…

India’s foreign exchange reserve fell by $ 298.6 million in the week ending on March 26. After this decline, the country’s foreign exchange reserve has been reduced to $ 57.92 thousand crore. The central bank RBI presented the data related to it today on Friday 2 April. In the week ending on March 19, it increased by 233 million dollars and it reached the level of 58.23 thousand million dollars. In the week ending 29 January 2021 this year, the Foreign Exchange Reserve was at a record level of 59.02 thousand million dollars. Foreign exchange assets declined due to the…

Samsung has offered another new smartphone with its Galaxy A series, consolidating its position in the mid-tier premium range in India. The 6.7-inch Galaxy A72 features a 64 MP quad camera with OIS (optical image stabilization), 30 times the space zoom, IP67 rating for water and dust resistance, more powerful battery and new design. Due to OIS, during the capture of a photo or video, the problem of sudden blur or moving of the picture will be relieved. The price of Galaxy A72 has been kept at Rs 34,999 for 8 GB plus 128 GB variants, while Rs 37,999 has…

Airline chief IndiGo on Friday said it has partnered with on-demand platform CarterPorter to provide door-to-door baggage delivery (delivery to home) service. This is good news for passengers traveling by plane. Under the door-to-door baggage transfer service, IndiGo will pick up the passengers’ luggage from home and transport it to the final destination. The airline has commenced service in New Delhi and Hyderabad from 1 April and will later be operational from Mumbai and Bangalore airports as well. The airline said the facility would enable passengers to travel worry-free, as it would provide the facility to move their luggage from…

The GST collection reached a record high of Rs 1.23 lakh crore in March. The Finance Ministry gave this information in a statement. The Finance Ministry said on Thursday that the total GST revenue collection in the month of March 2021 has been Rs 1,23,902 crore. It has Central GST (CGST) of Rs 22,973 crore, States GST (SGST) of Rs 29,329 crore, Integrated GST (IGST) of Rs 62,842 crore and Cess of Rs 8,757 crore (which includes Rs 935 crore on import of goods). The government said in a statement that it has made a settlement of Rs 21,879 crore…

The overall server market in India has registered a year-on-year decline of 11.2 percent in terms of revenue, to $ 26.21 million in the fourth quarter of 2020, along with a decrease in demand at the time of the epidemic. A recent IDC report presented the figures on Thursday. In terms of revenue, the contribution of the X86 server market increased to 92.9 percent, a 4.8 percent increase from the same quarter last year. Dell Technologies emerged as the top vendor in terms of revenue share in India’s X86 server market with revenue of $ 7.31 million.

Maruti Suzuki, the country’s largest automobile major, reported a jump in sales in March 2021. The company registered a 99.31 percent increase in its total sales on Thursday on a year-on-year basis during March 2021. The company sold 167,014 vehicles in the previous month, while 83,792 units were sold in March 2020. The company sold 164,469 vehicles in February 2021. The company said in a statement, “Maruti Suzuki India Limited sold a total of 167,014 units in March 2021, with domestic sales of 149,518 units (passenger vehicles and light commercial vehicles), 5,899 units with other OEMs and 11,597 units. Export…

The domestic stock market has witnessed a good boom amid positive global cues. The Nifty has gone beyond 14850 in business. While the Sensex also managed to close beyond 50 thousand. There is a rise in the 10-year bond yield in the US, but the government has revealed an infra plan of 2 trillion dollars. After which the sentiments have improved. Currently, the Sensex has gained about 521 points at the end of trading and has closed at the level of 50,029.83. At the same time, the Nifty has also gained 177 points and closed at 14867 level beyond 14850.…

New Delhi: A big cut in small savings schemes will deliver a blow to savers who depend on these schemes for income and social security.Conversely, this will reduce interest rates, bring down the cost of capital and spur capex and stock markets. The government revised the interest rates on small savings with effect from April 1 with a massive cut on Wednesday. The interest on savings deposit will be cut from 4 per cent to 3.5 per cent annually, while Public Provident Fund (PPF) is down from 7.1 per cent to 6.4 per cent. Similarly, 1 year time deposit has…

Samsung has launched Samsung Galaxy S20 FE 5G in India on Wednesday. Both 4G and 5G variants of Samsung Galaxy S20 FE were introduced in September last year, while only 4G variants were introduced in the Indian market in October. Talking about the main features of the 5G variant of the phone, it has a Qualcomm Snapdragon 865 SoC processor. The Samsung Galaxy S20 FE 5G is priced at Rs 55,999 for its only 8GB RAM and 128GB storage variants. But the phone can be purchased initially in India for a special offer for Rs 47,999. It includes an instant…

The premium for term insurance plans is expected to increase by 10 to 15 percent soon. While some insurers have increased the premium in recent months, some others are expected to do so by April 2021. Indranil Chatterjee, Co-Founder and Principal Officer, RenewBuy, said that most insurance companies post term insurance after April 1 due to increased demand after Kovid-19 for term insurance plans for consumers and increased risk assessment by insurers. The premiums of the plans are going to increase. Therefore, those who are thinking of buying a term insurance plan before the increase in premium, can choose the…

New Delhi: The Reserve Bank of India (RBI) has deferred for six months the changes in OTT subscription, auto payment of bills or auto debit in the country from 1 April. In view of the inconvenience caused to the people regarding the new structure, the RBI has taken this step. On Wednesday, the Reserve Bank of India issued a statement saying that the timeline of all parties for auto payment and auto debit to come under the new framework has been extended till September 30, 2021. Along with this, while giving strict warning to the banks, even after this, if…

Mumbai: The fall in most of the key indices globally and rising concern due to the Korena epidemic led to a huge sell-off in the domestic stock market on Wednesday due to which the Sensex slipped 627 points and returned below the 50,000 mark and the Nifty also declined by 154 points. This led to a strong uptick in the domestic stock market on the previous day due to increased investor buying. The BSE Sensex fell 627.43 points during this period, due to which the Sensex fell below the 50 thousand mark to 49,509.15 and the National Stock Exchange (NSC)…

New Delhi: After the Indian government banned Chinese short video app TicketTock in the country, now its parent company ByteDance is strict. Authorities have frozen the bank accounts of ByteDance in India on charges of tax evasion. For relief in this case, Bydtance has moved the Mumbai High Court and challenged this decision of the government. ByteDance challenged the government’s decision, urging the Mumbai High Court to dismiss the order as soon as possible. The company said that this decision of the tax department could cause a huge loss to its business. This claim has been made in a report…

Mumbai: About 52 per cent of Indian organisations said they fell victim to a successful cybersecurity attack in the last 12 months, according to a survey released on Tuesday. Of these successful breaches, 71 per cent of organisations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate, showed the survey by global cybersecurity firm Sophos. The study of 900 business decision makers across Asia Pacific and Japan indicates Covid-19 accelerated period of digitisation and was a catalyst for improving cybersecurity, but systemic security issues persist. While attacks…

Mumbai: On March 30, there has been a spectacular purchase in the domestic stock market amid mixed global signals. The Nifty reached close to 14850 in business. The Sensex has also crossed 50000. Currently, the Sensex has gained 1128 points at the end of trading and has closed near the 50,137 level. At the same time, the Nifty has gained 338 points and has closed at the level of 14845. In this boom of the market, the wealth of investors has increased by 3.5 lakh crores. There have been good purchases in IT, bank and financial stocks. Metal and FMCG…

New Delhi: Stock markets in Asia heaved a sigh of relief and crude oil prices fell as the vessel blocking the Suez Canal was freed. This will clear the canal and allow movement on the busiest waterway in the world. Crude prices fell after rising 4 per cent over the last few days as the blockage was causing $ 9 billion of trade loss every day. The Suez Canal accounts for 12 per cent of global trade. Oil prices have softened due to the recent lockdowns in Europe also. Brent crude fell 90 cents to $63.67 a barrel, while the…

The market capitalization (market cap) of seven of the top 10 Sensex companies collectively declined by Rs 1,07,566.64 crore last week. Reliance Industries alone suffered half of this loss. The 30-share BSE Sensex lost 849.74 points or 1.70 per cent during the week. Among the top 10 companies, only Tata Consultancy Services (TCS), Hindustan Unilever (HUL) and HDFC gained market valuations. In the week under review, the market capitalization of Reliance Industries declined by Rs 55,565.21 crore to Rs 12,64,243.20 crore. Bajaj Finance’s market position declined by Rs 16,197.55 crore to Rs 3,12,327.04 crore and State Bank of India lost…

Meerut: The Indian Railway Finance Corporation (IRFC), the dedicated financing arm of the Indian Railways, on Friday, raised Rs 1,375 crore through issuance of domestic bonds. The fund has been raised at 6.80 percent coupon rate with 20-year maturity which is about 18 basis points lower than the benchmark par yield Government security as per yesterday’s close in CCIL. This is one of the rare occasions when a top-rated government issuer has pierced the sovereign curve in the domestic market with such a huge margin. This shows the confidence reposed by the large debt investors in the country for IRFC…

New Delhi: As higher education plays an important role in promoting human development as well as contributing to the economy of a country, FICCI Arise has come up with this universities’ fair to provide students an opportunity to interact with wide-ranging and diverse higher education learning opportunities. At the fair, students will have an opportunity to choose from top international universities/colleges from USA, Canada, UK, Australia, New Zealand, Germany, France, Singapore, India, and other top destinations. Close to 90 universities have already registered, and these include Imperial College London (UK), University of Waterloo (Canada), KREA University (India), PLAKSHA University (India),…