Author: Finance Khabar
Priyanka Iyer When it comes to smart money management, we believe that earning a higher income that caters to your daily expenses, is all that’s required. Seldom do we bring assets and liabilities into the picture, or try to examine our net worth. Even when you’re earning well, effective money management is of paramount importance, else you may often find yourself swimming against the currents. There may be risks of credit score downgrades, inadequate funds for emergencies, along with payment delays or defaults. Read on to know why it pays to manage your money effectively. Risks of overspending Without an…
Mumbai: The Chennai-based company, which is a subsidiary of the Stuggart-headquarted Daimler, is also focusing on higher digitalisation, including in its sales process, and has plans to add more value-added offerings to customers going forward. Daimler India has its manufacturing facility in Orgadama, near Chennai, where it produces 9 to 55 tonne trucks as well as BharatBenz buses, Mercedes-Benz coaches and bus chassis. “We are the only commercial vehicles maker in the country which is expanding the dealership network. Last year we ended at 230 touchpoints and this year our target is to have more 250 touchpoints by the end…
New Delhi: In a letter to Sushil Kumar, Special Director, Enforcement Directorate, CAIT alleged that Amazon’s investments in India are in violation of the provisions of Foreign Exchange Management Act, 1999 (‘FEMA Act’) and the Rules and Regulations. “Amazon.com Inc. (‘Amazon’) is one of the world’s biggest global corporations, having unbridled access to financial and information resources. Amazon has been operating in India since 2012. Amazon, in every one of its investments and businesses in India, has been brazenly and flagrantly violating the laws, rules and regulations of this Country causing untold misery to crores of small traders (by resorting…
New Delhi: Bolo Indya has raised USD 400,000 (about Rs 3 crore) in funding from Inflection Point Ventures and others that will be used to enhance tools for creators and strengthen the team, a top company official said. The latest infusion, which takes the total funding raised by the short video platform to about USD 1 million (about Rs 7.3 crore), also saw participation from existing investor Eagle10 Ventures. “We are on the mission to leverage the amalgamation of passion, content and technology to empower every content creator of Bharat to go viral in the shortest span of time and…
Mumbai: The Reserve Bank of India (RBI) has also revised its forecast of economic growth for the current fiscal year (2020-21) to (-)7.5 per cent as against its earlier forecast of (-)9.5 per cent. “We should reach pre-COVID-19 levels at the end of fiscal year 2021-22 for sure,” Kumar told PTI when asked about growth projection for the next financial year. He added that the GDP contraction this fiscal is expected at less than 8 per cent. India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5…
New Delhi: Dabur on Sunday said it is filing a complaint against rival Marico before the Advertising Standards Council of India (ASCI) for claiming its Saffola Honey sample being passed through the NMR test. The Noida-based company claimed Marico’s Saffola honey has failed the NMR (Nuclear Magnetic Resonance) test and is misleading the consumers. “Dabur is filing a complaint in ASCI against Marico as their Saffola Honey sample from the market has failed the NMR test. Test reports clearly indicate the presence of sugar syrup in Saffola honey. Their claim on NMR test is misleading the consumers,” Dabur claimed in…
New Delhi: The Reserve Bank on Friday announced further liberalisation in the extant policies governing certain export transactions by delegating more powers to banks with an aim to improve the ease of doing business for exporters. The measures are related to direct dispatch of shipping documents, write-off of unrealised export bills, set-off of export receivables against import payables, and refund of export proceeds. In his address post the Monetary Policy Committee’s meeting, RBI Governor Shaktikanta Das said the central bank has announced several measures to enhance export competitiveness, ease of doing business for exporters and minimise procedural delays. Continuing with…
Kuala Lumpur: The company told Reuters in an email to Reuters that it always takes into account market conditions, business growth potential and other factors, as part of a continuous review of its investments and business operations. “As part of this review, Sony will consolidate its manufacturing operations by transferring its operations in Penang to Selangor, to further enhance operational efficiency,” said Penang-based Human Resources Division head Ric Ong. Operations at the plant will end by Sept. 30 and it will shut by the end of March 2022, affecting about 3,600 employees in Penang. Some of the Penang employees will…
New Delhi: The recently released provisional data showed that India’s merchandise exports dropped by 9.07 per cent in November to $23.43 billion from $25.77 billion in November 2019. “The slippage in exports growth signifies the near term impact of fresh restrictions in trading partners. The average merchandise trade deficit is likely to reach substantially higher levels in H2FY21 as compared to Q2FY21,” said Aditi Nayar, Principal Economist, ICRA. Among commodities and products, iron ore, rice and pharmaceuticals continued to display healthy uptick in YoY shipments, whereas leather, textiles and engineering goods continued to show contraction. EEPC India Chairman Mahesh Desai…
CEO of the world’s largest vaccine manufacturer Serum Institute of India, Adar Poonawala has been elected ‘Asian of the Year’. Singapore’s leading newspaper The Strait Times has placed Adar Poonawalla among the six people who have been selected this year’s ‘Asian of the Year’ for playing an important role in the fight against the Corona epidemic. All of them have been placed in this list because of their important role in the fight against the corona epidemic. The Pune-based Serum Institute of India (SII) has partnered with Oxford University and the British Swedish forma company AstraZeneca to manufacture the Corona…
Mumbai: The BSE Sensex zoomed by 929.83 points or 2.11 pc to settle at 45,079.55 in week under review on positive global cues and on optimism over progress in COVID-19 vaccine development. Sustained foreign fund inflows and weakness of the American currency in the overseas market also supported the domestic shares Sentiment boosted as India’s economy recovered faster than expected in the September quarter. The Nifty 50 index rallied 289.60 points or 2.23 pc to settle at 13,258.55. Both the indices hit record high levels. The BSE Mid-Cap gained 474.37 or 2.80 pc to settle at 17,389.02. The BSE Small-Cap…
New Delhi: DBIL is well-capitalised, and its capital adequacy ratios (CAR) remains above regulatory requirements after the amalgamation, the bank said in a statement. The amalgamation provides stability and better prospects to LVB’s depositors, customers and employees following a period of uncertainty, it said, adding that once the integration is complete, customers will be able to access a wider range of products and services, including the full suite of DBS digital banking services. The scheme of amalgamation came into effect on November 27. DBS Bank has been present in India for 26 years, having opened its first office in Mumbai…
New Delhi: In the ongoing kharif marketing season (KMS) 2020-21, the government continues to procure kharif 2020-21 crops at its MSP (minimum support price) from farmers, an official statement said on Friday. The marketing season starts from October. Paddy procurement for kharif 2020-21 is continuing smoothly in Punjab, Haryana, Uttar Pradesh, Telangana, Uttarakhand, Tamil Nadu, Chandigarh, Jammu & Kashmir, Kerala, Gujarat, Andhra Pradesh, Odisha, Madhya Pradesh, Maharashtra and Bihar. The Food Corporation of India and state agencies have purchased 329.86 lakh tonnes of paddy up to December 3 as against purchase of 275.98 lakh tonnes in the corresponding period last…
Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the Real Time Gross Settlement (RTGS) system, used for large value transactions, will be made available round-the-clock in the next few days. ‘With this enablement, it is proposed to reduce settlement and default risk in the system by facilitating settlement of AePS, IMPS, NETC, NFS, RuPay, UPI transactions on all days of the week instead of five days earlier. This will make the payment ecosystem more efficient” he added. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a…
Mumbai: The Reserve Bank of India on Friday decided to keep key rates unchanged for the third time in a row, but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis. The MPC voted unanimously to hold rates steady in the sixth bi-monthly policy on Friday. The Repo rate was at 4 pc while Reverse Repo at 3.35 per cent. Marginal standing facility and bank rate remains unchanged at 4.25 per cent. In its preceding policy meet in October, the RBI had kept the key…
Mumbai: For the first time in the history, the BSE Sensex on Friday, breaching 45K level to finish at 45,079.55, spurting 446.90 pts after the RBI maintained status quo. The Nifty of national stock exchange moved up by 124.65 pts at 13,258.55 The equity market remained in green throughout the session, as the Sensex opened higher by 73 pts to 44,665.91, all time high. After the announcement of RBI to keep the key rates unaltered, the sensex zoomed up by 516 pts to 45,148.91 days high, before closing at 45,079.55, advancing by 446.90 pts from its previous close. The sectoral…
Add-on cover available with Care Health’s comprehensive hospitalization products such as Care, Care Advantage, Care Freedom and moreComes with a troika of innovative benefits: Inflation Shield, Claim Shield and No Claim Bonus Shield Care Health Insurance (formerly Religare Health Insurance) today announced the launch of its latest, innovative product, Care Shield. The triple-innovation product takes into account rising inflation, coverage of certain medical expenses hitherto uncovered and safeguarding the No Claim Bonus benefit from lapsing in case of moderate claims of up to 25% of Sum Insured. Highlighting the benefits of the new product, Anuj Gulati, Founding Managing Director & CEO said, “Medical costs…
Mumbai: A total of 31 women in the list of 100 having a networth of at least Rs 100 crore, prepared by Hurun India and Kotak Wealth, are “self-made”, it said. This includes six professional managers and 25 entrepreneurs. Shaw leads in the self-made category, followed by Radha Vembu of Zoho (Rs 11,590 crore networth) and Jayshree Ullal of Arista Networks (Rs 10,220 crore), it said. Interestingly, all the three — Shaw, Ullal and Vembu — also feature in a global rich list prepared by Hurun. The average age of women on the list, whose cumulative wealth is pegged at…
New Delhi: The Reserve Bank of India (RBI) has asked to temporarily stop HDFC Bank’s upcoming digital business activities and new credit card issuance by issuing an order. The order has been given by the central bank due to the affected functioning of the data center of HDFC Bank last month. Explain that after complaining about the problems faced by the net banking of HDFC Bank in the past, the bank had talked about such problems. This order of RBI has come on 2 December. Customers had complained about problems in HDFC Bank net banking and payment system. After which…
New Delhi: The Reserve Bank of India’s (RBI) key focus in the ongoing policy review meeting is likely to be on “ensuring adequate liquidity” in the system while maintaining an “accommodative” stance, industry body Assocham on Thursday said. It also said that the accommodative stance would reflect the RBI’s commitment to keep the lending rates benign to support growth, hit by the COVID-19 pandemic. “Focus of the bi-monthly review of the credit policy by the RBI monetary policy committee is expected to be ensuring adequate liquidity into the system, retaining the policy stance as accommodative,” Assocham said. The RBI has…