Author: Finance Khabar
Mumbai: The country’s current account surplus decreased to $ 15.5 billion in the July-September quarter of the current financial year. It is 2.4 percent of gross domestic product (GDP). The Reserve Bank of India said on Wednesday that in the previous quarter April-June it was $ 19.2 billion, which was 3.8 percent of GDP. In the second quarter of the previous fiscal year 2019-20, the current account deficit was $ 7.6 billion. It was 1.1 percent of GDP. According to RBI data, the current account surplus stood at 3.1 per cent of GDP in the first half of the current…
New Delhi: In a letter to RBI Governor Shaktikanta Das, DHFL administrator R. Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of Rs 9,000 crore in cash and Rs 31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5 per cent per annum interest. As per the revised proposal, Rs 12,000 crore will be repaid within a period of seven years in equal annual instalments, following a one-year moratorium with 11 per cent interest after two years of interest…
New Delhi: The government has once again relieved the income tax payers. The government has again pushed forward the deadline for filing income tax returns. Now individual taxpayers will have time till 10 January 2021 to file income tax returns for the financial year 2019-20 (assessment year 2020-21). To give relief to small and middle class taxpayers, the deadline for payment of self assessment tax has also been pushed forward once again. The Finance Ministry issued a notification stating that in view of the circumstances arising out of Covid 19, the government has extended the deadline of various compliance. For…
MUMBAI: The domestic stock market has managed to close for a third consecutive day on record day on the back of positive buying from overseas along with positive buying by foreign investors. The stock has gained for the sixth consecutive day. BSE’s 30-share sensitive index Sensex rose by 133.14 points to a record level of 47746.22 so far. The National Stock Exchange (NSE) Nifty climbed 49.35 points to 13981.95 points. During this period, buying in small and medium companies was also strong, due to which the BSE midcap rose 0.53 percent to 17904.85 points and the smallcap rose 0.37 points…
New Delhi: Bank of Baroda, the country’s third largest state-run bank, has launched its own digital lending platform. Through this, retail customers will get loans online through paperless process according to the place and time of their choice. Now banks will not have to go round to take loans for home or car and banks will not have to go round. With this facility of Bank of Baroda, a retail loan will be available in a few minutes and the application for home loan, car loan or personal loan will be approved in half an hour. Executive Director of Bank…
Mumbai: Finance Minister Nirmala Sitharaman has been presiding over Indian stock markets’ biggest bull run in the last few months. Prime Minister Narendra Modi and Sitharaman are scripting what is easily the biggest wealth creation story in many years. Sitharaman is a first time Finance Minister and just a year and a half into the job. Under her watch, India has seen the most tearing stock market frenzy since March of 2020 and one of the biggest wealth creation journeys for investors, domestic and foreign. With the economy taking a hit due to the Covid 19 pandemic, it is the…
New Delhi: The disinvestment of Air India will enter into its second stage on January 5 next year, when the names of the qualified bidders would be announced, an official said here on Tuesday. The first process of proposed strategic disinvestment of Air India has been completed, the official said. Civil Aviation Secretary Pradeep Singh Kharola said here in a press conference that the two processes of the strategic disinvestment of Air India include submission of ‘Expression of Interest’, which was completed on December 14 and the second process ‘Request for Proposal’. ‘The strategic disinvestment of Air India is a…
Malaysia’s budget airline Air Asia plans to sell 32.67 per cent stake in its Indian operations to Tata Sons. This sale will be for $ 3.77 million. Air Asia India is the joint venture between Air Asia and Tata Sons and Tata Sons is a majority stakeholder in Air Asia India. The deal is expected to be completed by March 2021. The group has also said that it is ready to waive the brand license fees not paid by Air Asia India to Air Asia Berhad. Air Asia has a 49 percent stake in Air Asia India. The group says…
The new Jeep Compass facelift will be launched in India on January 7. The 2021 Compass SUV was recently introduced internationally. There are some new updates and styling changes. FCA India sells Jeep Compass in India. The new Jeep Compass facelift will get revamped designed headlamps, integrated LED DRLs. The signature grill of the Jeep brand has been introduced with a slight change in the new compass. The front bumpers, skid plates are new, as well as the design of the fog lamps. The alloy wheels used in the SUV are with the new 5 spoke design. The top trim…
The domestic market today set a record high amid better global cues. The closing of the market also took place at a record high. In today’s business, the Sensex crossed the 47700 level for the first time and reached the level of 47,714.55. At the same time, the Nifty also crossed the 13950 level for the first time. The market has got support from bank and IT shares. However, there was pressure in the metal. At the end of trading, the Sensex has gained 259 points and closed at the level of 47613. At the same time, the Nifty has…
New Delhi: The spadework started late last year and 2020 was supposed to be the landmark year in India’s history of privatisation with at least three top PSUs – BPCL, Air India and Shipping Corporation of India up for sale. Though the outbreak of the pandemic pushed the timelines into the next fiscal, the Centre is firm on not going back on its disinvestment plans with Finance Minister Nirmala Sitharaman on more than one occasion emphatically stating that the Centre will continue to push for stake sales. Oil Minister Dharmendra Pradhan, whose ministry is the nodal ministry for BPCL, went…
New Delhi: Through its ongoing virtual hiring process, it has already made around 250 offers in the recent hiring season at premium education institutes like IIT Madras, IIT Guwahati, IIT BHU, IIT Bombay, IIT Delhi, IIT Roorkee, IIT Kharagpur, IIT (ISM) Dhanbad, IIT Hyderabad and other IITs. “L&T not only offers Graduate and Post Graduate Engineer Trainees (GETs & PGETs) continuous learning opportunities and a growth path but also gives them immense satisfaction to work on projects that are high on the top of national or global pecking order,” said SN Subrahmanyan, Chief Executive-MD. In 2021, it is planning to…
New Delhi: Tesla Inc will come to India early next year, country’s transport minister Nitin Gadkari told a national daily on Monday. The electric-car maker will start with sales and then might look at assembly and manufacturing based on the response, the minister told here the newspaper. Though keen to reduce its oil dependence and cut down on pollution, India’s efforts to promote electric vehicles have been so far stymied by a lack of investment in manufacturing and infrastructure such as charging stations. The first model to be launched will be Model 3, the cheapest among Tesla vehicles, with prices…
Shares of Tata Consultancy, the country’s largest IT company, continue to boom. TCS shares have gained more than 90 per cent since the March low. In today’s business, TCS shares rose more than 1 percent to reach Rs 2949.90. This is a record high for the stock. Between this record high of share, TCS’s market cap also crossed 11 lakh crore for the first time. TCS is the second company to join the 11 lakh market cap club. Prior to this, Reliance Industries has done this feat. Prior to this, TCS joined the 10 lakh crore market cap club on…
MUMBAI: The domestic stock market has witnessed a great boom in trading on December 28 amid better global signals. The Nifty crossed 13850 for the first time in business today. At the same time, the Sensex also crossed the level of 47400 for the first time and reached the record level of 47407. The market has got good support from banks, auto, realty and metal stocks. At the end of trading at present, the Sensex strengthened by about 380 points and closed at the level of 47,353.75. At the same time, the Nifty also closed 124 points strong at the…
Mumbai: Gold, always considered a safe haven for investment in uncertain times, is likely to glitter more and even soar to Rs 63,000 per 10 grams next year amid expectations of fresh stimulus measures and weaker American dollar. In 2020, the economic and social uncertainties triggered by the coronavirus pandemic turned the spotlight on gold as a safe haven. The price of the yellow metal reached an all-time high of Rs 56,191 per 10 grams at MCX and USD 2,075 an ounce in the international market in August. A sharp turn in global monetary policies that led to a low…
New Delhi: Prices for LED TV and appliances such as refrigerator, washing machines are expected to go up by around 10 per cent from January next year on account of rise in costs of key input materials like copper, aluminium and steel and increase in ocean and air freights charges. Besides, prices of TV panels (Opencell) have also gone up by over two-folds due to short supply by the global vendors, while cost of plastic has also gone up due to rise in crude oil prices, said manufacturers. Terming it as imminent and unavoidable, manufacturers such as LG, Panasonic and…
Small businesses and dealers will not be affected by the new rule mandated to make at least 1 per cent GST payment in cash. The reason for this is that only those units whose annual turnover is 6 crores or more, have to follow this rule. Sources in the finance ministry have said this. In view of the increasing use of fake invoices for evasion of Goods and Services Tax (GST), the Central Board of Indirect Taxes and Customs (CBIC) added Rule 86B to the GST rules last week. This rule allows up to 99 per cent of GST liability…
Taiwanese tech company ASUS is about to expand its offline retail network in India. The company says that it will increase 1000 retail points next year. This is because Asus continues to get good demand in the consumer and gaming segments. As per IDC, Asus had a 7.5 percent share in the Indian PC segment in the September quarter. Currently, the company’s products are available at more than 6000 retail points along with online channels. ASUS India Business Head, Consumer & Gaming PC (System Business Group) Arnold Sue says that demand has continued to strengthen since the lockdown was lifted.…
China’s regulators have ordered the Ant Group to rectify their businesses. It has also said that the group complies with regulatory requirements. Ant Group is the world’s largest financial technology company. Explain that the investigation on anti-monopoly practices has intensified in the Internet sector in China. The founder of the Ant Group is Jack Ma, the richest person in China. He is also the founder of Alibaba. Ant Group started as payment services for Alibaba’s e-commerce platform Taobao. Today this group also offers insurance and investment products. China’s regulators said in a statement on Sunday that China’s Central Bank People’s…