Author: Finance Khabar
New Delhi: The government has made it mandatory for businesses with more than Rs 50 crore turnover to generate e-invoices for B2B transactions. The government has made it mandatory for businesses with more than Rs 50 crore turnover to generate e-invoices for B2B transactions. This new rule will be applicable from 1 April. Under the Goods and Services Tax (GST) Act, e-invoicing for business to business (B2B) transactions has been made mandatory for companies with a turnover of more than Rs 500 crore and Rs 100 crore from 1 October 2020 and 1 January 2021 respectively. went. The Central Board…
New Delhi: South Korea car company Kia has released the teaser of its first dedicated electric vehicle EV6. The EV6 is the first dedicated battery electric vehicle (BEV) built on the company’s new EV platform (Electric-Global Modular Platform or E-GMP). Apart from this, EV6 has been developed as the company’s next generation BEV. Kiya says EV6 is in line with its brand logo ‘Movement That Inspires’ and design philosophy. According to the information given by the company, it will be premiered in the first quarter of 2021 this year. The company has adopted a new strategy to name its EVs…
Mumbai: Good buying has been seen in the domestic stock market amid better global cues. The Nifty closed in the business around 15100. The Sensex also crossed 51000. The market has gained support in banks and financial stocks. However, there is a sell in metal stocks. At present, the Sensex closed at the level of 51025 with a gain of about 584 points. At the same time, the Nifty has also been up by 142 points and has closed at the level of 15098. Apart from Bank, Financial, IT stocks have also been rising. Kotak Bank and HDFC Bank are…
Mumbai: In a circular on Monday, the Securities and Exchange Board of India (SEBI) amended provisions related to Unique Client Code (UCC) and mandatory requirement of Permanent Account Number (PAN). The capital market regulator has also enhanced the use of e-PAN. In the Union budget 2020, launch of instant PAN facility was announced and subsequently, Income Tax (IT) Department launched the facility of e-PAN which is generated instantly through Aadhaar based e-KYC. Post the development, it will be mandatory for the members of the exchanges, having commodity derivatives segment, to use UCC for all clients transacting on the commodity derivative…
Mumbai: The impact of the Covid-19 pandemic is likely to pose challenges to the Indian banks’ improving financial performance once asset-quality risks manifest in the financial year ending March 2022 (FY22), says Fitch Ratings. According to Fitch, India’s banks reported lower impaired loans and improved profitability for the nine months ended December 2020 due to various forbearance measures and continued large write-offs. In a statement, Fitch said that India’s banks – particularly state banks – remained more risk averse than in prior years, which was reflected in their weak credit growth. “Fitch expects a moderately worse sector outlook for Indian…
New Delhi: 1 million bank note is coming soon in Venezuela. According to a report, Venezuela’s central bank has said that it will present a banknote of 1 million i.e. 10 lakh bolivars. In Indian currency, this note will be worth only about 39 rupees at present. According to the report, there has been very high inflation in the South American country for many years. The new banknote will be only 52 US cents as per the current exchange rate. According to the central bank, internal inflation is 2,665 per cent. The economy of the once prosperous OPEC country has…
New Delhi: Domestic LPG prices have doubled to Rs 819 per cylinder in the last seven years. While the increase in tax on petrol and diesel has increased the collection by more than 459 percent. Oil Minister Dharmendra Pradhan gave this information on Monday. Answering questions on rising oil prices in the Lok Sabha, Pradhan said in written reply that the retail sale price of domestic gas was Rs 410.5 per 14.2 kg cylinder on 1 March 2014. The price of the cylinder has reached Rs 819 this month. Pradhan said that the price of domestic subsidized cylinder has increased…
Mumbai: After fighting multiple bouts of volatility during the session, the BSE gauge Sensex settled 35.75 points or 0.07 per cent higher at 50,441.07. Intraday, the index rose as much as 667 points, but pared most of its gains tracking weakness in global markets. The NSE Nifty ended higher by 18.10 points or 0.12 per cent at 14,956.20. On the Sensex chart, L&T was the biggest gainer, rising by 3.43 per cent. ONGC rose by 2.96 per cent, HCL Tech by 2.22 per cent, NTPC by 1.66 per cent, Axis Bank by 1.6 per cent and Infosys by 1.54 per…
In order to make LIC’s listing easier in the next financial year, the government is set to increase the company’s authorized capital to Rs 25,000 crore. Currently, the paid-up capital of the company is Rs 100 crore with 29 crore policies. Explain that the company started the business in 1956 with a capital of Rs 5 crore. Currently, the company has Rs 31,96,214.81 crore. According to the proposed amendment to the Life Insurance Corporation Act, 1956, the authorized capital share of LIC would be Rs 25,000 crore. Which will be divided into 25,00 crore shares worth Rs 10 per share.…
Mumbai: In the third quarter of the current financial year, with the return of economic activity back on track, the stock market rose by around 2.75 per cent on the back of strong investment holdings. During this period, investors were strengthened by the stabilization of US bonds and the ongoing immunization campaigns in many countries of the world against the corona epidemic. The 30-share Sensex Sensex of the BSE closed at 50.405.32, an increase of 1305 points, or 2.66 per cent, over the previous week. The 50-share Sensex Nifty of the National Stock Exchange (NSE) closed at 14,938.10 with a…
The market capitalization of eight of the top 10 companies of the Sensex has increased by Rs 1.94 lakh crore in the last week. Reliance Industries (RIL) has benefited the most. On the other hand, the market capitalization of HDFC Bank and State Bank of India (SBI) has declined. During the week, the market capitalization of Reliance Industries increased by Rs 60,034.51 crore to Rs 13,81,078.86 crore. Market valuation of Tata Consultancy Services (TCS) rose by Rs 41,040.98 crore to Rs 11,12,304.75 crore and Kotak Mahindra Bank rose by Rs 28,011.19 crore to Rs 3,81,092.82 crore. Hindustan Unilever’s market cap…
New Delhi: Now more people are taking loans from banks in the country, due to which the bank credit growth has started improving now. Bank credit growth stood at 6.6% in February 2021 as compared to 6.4% in the previous year. Market experts say that this is a sign of recovery in the economy and the economy is now coming out of the influence of Corona. Bank Credit Growth refers to the lending by banks to companies, businessmen or the general public. That is, the growth credit in the loan increases when there are industrial reforms. Bank credit growth increases…
New Delhi: For a long time, the sale of platform tickets at railway stations was closed, which has started once again. However, its prices have increased by 3-5 times. The railway says that the platform ticket price is to prevent the spread of Corona and this increase is being done at the same stations where there is a huge crowd. The railway ministry said that there are a total of 78 stations in Mumbai division, out of which platform ticket prices have been increased at only 7 stations. Earlier the platform ticket was 10 rupees, which has now become 30…
New Delhi: Safety standards are being changed in passenger cars from 1 April next month. Now airbags will be provided for the driver as well as the side seat. Two years ago in the early months of the year 2019, a safety rule was introduced for all passenger cars under which airbags and ABS (anti-lock braking system) were made mandatory. However, under this, in most passenger cars, only the driver side was given airbags and in some models airbags were given on both the front seats. Now by order of the government, all the cars built from April 1, 2021…
New Delhi: Hospitality major OYO Hotels & Homes’ valuation has reached the $9 billion-mark, according to industry sources. The development comes after the latest fundraise of Rs 54 crore or $7.31 million from Hindustan Media Ventures Ltd. In a regulatory filing with the Ministry of Corporate Affairs, OYO said that it has raised Rs 54 crore ($7.31 million) at a share price of $58,490 as part of its Series F1 round. With over 50 products and more than 500 microservices, the company plans to utilise the capital in strengthening its technology stack for delivering an improved partner and customer experience.…
Mumbai: PNB Housing Finance and Yes Bank on Friday said that they have entered into a strategic co-lending agreement to offer retail loans to home-buyers at competitive interest rates. A PNB Housing statement said that both the financial institutions will synergise their capabilities to provide an efficient and seamless experience to existing and new retail home loan customers. PNB Housing and Yes Bank will jointly do due diligence and co-originate the loan at an agreed ratio. PNB Housing will service the customers through the entire loan lifecycle, including sourcing, documentation and collection with an appropriate information sharing arrangement with Yes…
Mumbai: ICICI Bank on Friday cut interest rate on home loans to 6.70 per cent, at par with market leader SBI, as part of a limited period offer. The second largest private sector lender said the interest rate offering, which is valid till March 31, is the lowest in a decade. Over the last week, there have been a slew of similar announcements by lenders on interest rates which were at 16-year-low at the systemic level. SBI cut its rate first to 6.70 per cent to best rated borrowers, which was followed up quickly by smaller rival Kotak Mahindra Bank…
The decline in gold and silver continued on March 5, Friday. In Delhi’s bullion market on Friday, gold fell by Rs 522 to Rs 43,887 per 10 grams (Gold price today). In the previous trading session, gold had closed at Rs 44,409 per 10 grams. On the other hand, silver has fallen by Rs 1,822 to reach 64,805 rupees per kg (Silver price today). Which had closed at Rs 66,627 per kg in the previous trading session. Last year on 4 March 2020, the price of gold in the bullion market of Delhi increased from Rs 43,228 to Rs 44,383…
MUMBAI: Due to weak global cues, there has been a sell-off in the domestic stock market in the business of March 5. While the Sensex has lost 441 points, the Nifty has also closed below 15000. The rise in bond yields in the US saw pressure on the US markets. Other markets of the world have also been affected. Currently, the Sensex is down 441 points at the end of trading and has closed at the level of 50405. At the same time, the Nifty has seen weakness around 143 points and it has closed at the level of 14938.…
New Delhi: Gold prices fell by Rs 217 to Rs 44,372 per 10 grams at the bullion market in Delhi on Thursday due to a weak trend in the international markets and an improvement in the value of the rupee. Gold had closed at Rs 44,589 per 10 gram in the previous trading session. On the other hand, silver has fallen by Rs 1,217 to Rs 66,598 per kg. Which had closed at Rs 67,815 per kg in the previous trading session. Gold prices fell by Rs 208 to Rs 44,768 per 10 grams in the Delhi Bullion Market on…