Author: Finance Khabar
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…
New Delhi: Due to inflation of petrol and diesel, the pocket of common people is getting lighter. Petrol has crossed the Rs 100 per liter level in many places of the country. In such a situation, it is being suggested to bring it under the purview of GST (Goods and Services Tax) to reduce its price, but it is a major source of revenue for the Center and the states, due to which governments will bring it under the purview of GST. She is hesitant. However, according to a report by the Economic Research Department of SBI, if the petroleum…
Mumbai: There has been a sell-off in the domestic stock market amid weak global cues. Both the Sensex and the Nifty have closed in the red mark in the business. The Nifty has weakened to the level of 15050. The Sensex has again closed below 51900. At the end of trading, the Sensex has a weakness of about 599 points and has closed at the level of 50,846. At the same time, the Nifty is also down 165 points and closed at the level of 15081. Prior to this, there was a rapid rise in the stock market for three…
New Delhi: The Enforcement Directorate has registered a case against senior officials of Franklin Templeton in a money laundering case. This is the first case filed by an investigating agency against him in April 2020 following the unexpectedly discontinued 3 date schemes by Franklin Templeton. The Enforcement Directorate has registered the case in the Economic Offenses Wing of the Chennai Police on the basis of an FIR lodged against Franklin Templeton. It was lodged in Chennai on 29 September 2020 under FIR 420. In this FIA, Franklin Templeton and his CEO have been accused of cheating investors and criminal conspiracy…
Mumbai: Today, for the third consecutive day, the domestic stock market has witnessed rapid growth amid mixed global signals. In today’s trade, both the Sensex and the Nifty index were strongly up. Today the Nifty has crossed 15200. The Sensex also reached close to 51500 again. At the end of trading, the Sensex has gained 1148 points and closed at the level of 51,444.65. At the same time, the Nifty has gained 327 points and closed at the level of 15246. Earlier on Monday and Tuesday, the stock market closed with an increase. Today, banks and metal stocks have seen…
Mumbai: Forty Indians entered the billionaires’ club in the pandemic- stricken 2020 to take the number of those in the coveted list to 177 people, a report said on Tuesday. Mukesh Ambani continued to be the wealthiest Indian with a networth of $83 bn. The head of Reliance Industries witnessed a 24 pc jump in fortunes and climbed up one spot to be the eighth richest globally, as per the Hurun Global Rich List. Gautam Adani from Gujarat, who has had a spectacular rise in fortunes in the last few years, saw his wealth almost doubling to $32 billion in…
New Delhi: Vodafone Idea (Vi) has launched Vi Hospicare in association with Aditya Birla Health Insurance (ABHI). In this, prepaid customers of the company get cover for hospitalization. The company said in a statement that Vi customers get a fixed cover of up to Rs 1,000 on being admitted to the hospital for a period of 24 hours. With this, a cover of two thousand rupees will also be available for ICU expenses. Offer includes hospitalization due to Kovid-19 or any pre-existing disease. Vi Hospitality can be availed at a recharge of Rs 51 and Rs 301. In the recharge…
New Delhi: At the current historic high fuel price levels in the country, the marketing margin taken by the oil marketing companies (OMCs) on retail sale of petrol and diesel has touched a high of over Rs 3 per litre. The oil price rise may be hitting the fuel consumers hard, but it is the oil companies that are making the most from the current situation, strengthening their margin on the sale of petrol and diesel and jacking up profits. At the current historic high fuel price levels in the country, the marketing margin taken by the oil marketing companies…
New Delhi: The telecom spectrum auction, which lasted two days, ended. The telecom secretary said that airwaves worth Rs 77,814.80 crore were purchased in two days. Reliance Jio was the biggest buyer, having made orders worth Rs 57,122.65 crore. Vodafone Idea purchased spectrum worth 1,993.40 crore in the auction. Bharti Airtel has acquired Radio Waves worth Rs 18,699 crore. Telecom Secretary Anshu Prakash said that the auction of telecom spectrum was concluded on Tuesday. A total of 855.60 MHz spectrum worth Rs 77,814.80 crore was purchased in two days. Bharti Airtel has acquired Radio Waves worth Rs 18,699 crore in…
Amidst strong global cues, the domestic stock market has seen a great boom on 2 March i.e. Tuesday. Both the Sensex and Nifty indices have closed strong in the business. The Nifty has gone beyond the 14900. At the end of trading, the Sensex has gained about 447 points and has closed at the level of 50,296.89. At the same time, the Nifty has also closed 158 points strong at the level of 14919. In today’s business, all other indices, except the government bank index, have closed strong. Auto and IT stocks have been good. Mahindra & Mahindra and NTPC…
The government has extended the deadline for filing the annual return of Goods and Services Tax (GST) for the financial year 2019-20 till March 31. This is the second extension given by the government. Earlier this deadline was extended from 31 December 2020 to 28 February 2021. The Finance Ministry said in a statement that in view of the difficulties faced by taxpayers in filing returns within the deadline, the government has extended the deadline to fill GSTR-9 and GSTR-9C for 2019-20. This extension has been done with the approval of Election Commission in the deadline. Returns have to be…
Noida: There is a plan to build a finance city in Noida near Delhi. It will be developed as a hub of financial companies on the lines of Mumbai. The Yamuna Expressway Industrial Development Authority is drawing its blueprint. For this, the Chief Minister of Uttar Pradesh Yogi Aditya Nath has got the green signal. 20 thousand crore rupees are expected to be invested in Fin City. It is estimated that 50 thousand youths will get employment. Chief Executive Officer of Yamuna Expressway Industrial Development Authority, Arun Veer Singh said that a plan has been prepared by the Yamuna Development…
New Delhi: Axis Bank on Saturday said its board has approved a proposal to reclassify United India Insurance Company Ltd (UIICL) as a public shareholder category investor in the bank from promoter category. UIICL, one of the promoters of Axis Bank, had requested the bank through a letter dated February 26, 2021 to reclassify the insurer to public category from promoter category, in accordance with listing regulations of Sebi, Axis Bank said in a regulatory filing. “The said letter was placed for consideration of the board at its meeting held today…The board at the said meeting has considered and approved…
Mumbai: Equity market investors have become cautious these days due to the fluctuations in the stock market. The Sensex has seen a decline since its record high and has broken more than 3,400 points in the last 10 days. The market reached its record high on 16 February. SENSEX touched 52516 level. At the same time, 10 days later, on February 26, the Sensex closed at the level of 49,100. Many such factors are present in the market, due to which this fluctuation in the market can continue for a few days. In such a situation, if you are a…
New Delhi: The Indian economy has come out of recession and it grew at a rate of 0.4 per cent in the third quarter of October-December 2020 in the current financial year 2020-21. Earlier, there was a decline of 24.4 per cent in the first quarter of the current financial and 7.3 per cent in the second quarter. With growth in the third quarter, India became one of the countries in which the economy improved in the fourth quarter of 2020 (October-December 2020) last year, while in some European countries, the decline in the July-September 2020 quarter exceeded the October-December…
New Delhi: The production of India’s eight major industries remained flat on a year-on-year basis during January 2021. The Index of Eight Core Industries’ reading for last month showed a rise of just 0.1 per cent in output from an expansion of 2.2 per cent in the same month last year. On a sequential basis, the output of eight major industries had expanded by 0.2 per cent in December 2020. ECI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). These industries comprise coal, crude oil, natural gas, refinery products, fertilisers,…