Author: Finance Khabar
North Delhi: The revenues for the month of November 2020 were 1.4 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 4.9 per cent higher and the revenues from domestic transaction, including import of services, are 0.5 per cent higher that the revenues from these sources during the same month last year. The total goods and services tax collected includes Central GST (CGST) of Rs 19,189 crore, State GST (SGST) of Rs 25,540 crore and Integrated GST (IGST) of Rs 51,992 crore. “The gross GST revenue collected…
Mumbai: The BSE Sensex on Tuesday ended an all-time high at 44,655.44 following gains in Realty, Telecom, Technology and IT stocks amid positive global cues. The Nifty of national stock exchange too rose by 140.10 pts at 13,109.05. The Sensex jumped by 286 pts to open at 44,435.83. During the day, it spurted 581 pts to 44,730.79, days high before closing at 44,655.44, advancing by 505.72 pts from its previous close. Meanwhile, it was fell by 31 pts to 44,118.10, days low. In scrips, Sun Pharma was a top gainer up by 5.51 pc to Rs 539.75 followed by IndusInd…
By 2026, there will be 3.5 billion 5G connections worldwide, while their number in India will be around 35 crore. This has been said by leading telecom company Ericsson in a report. Nitin Bansal, head of Ericsson’s network solutions (South East Asia, Oceania and India), says that if the spectrum auction is held early next year, India could get its first 5G connection in 2021. According to the Ericsson Mobility Report-2020, one billion people worldwide, who constitute 15% of the global population, have access to 5G coverage. According to the report, by 2026, 60 percent of the world’s population will…
New Delhi: In an significant move to promote digital payments in Business to Customer (B2C) transactions through QR Code and GST enablement on UPI, the government has conditionally waived the penalty provisions for a period of four months from December 1, 2020 to March 31, 2021 for issuing invoices without mandatory dynamic QR code by the registered persons with a turnover exceeding Rs 500 crore, sources said. Sources in the Department of Revenue (DoR) said that the government has been pursuing the banks, vendors and the National Payments Corporation of India (NPCI) for almost a year now to introduce GST…
New Delhi: According to biennial survey – The India Corporate Fraud Perception Survey, Edition IV by Deloitte Touche Tohmatsu India LLP (DTTILLP), over 80 per cent of respondents felt fraud cases would rise in the next two years, a 22 percentage point increase over the previous edition of the survey in 2018. About 70 per cent respondents felt that fraud losses would rise and one-third of the respondents felt losses would be between 1 per cent and 5 per cent of revenues. These adverse sentiments are due to large-scale remote working arrangements and changes in business models, which have made…
New Delhi: The stagnation caused by the corona virus in its economy is slowly coming to an end. There have been signs of improvement in the emerging Indian economy with the fact that inquiries about credit cards have reached 106% levels over the previous year. This shows that the economic activity is improving as the economy is opening up after the lockdown caused by Kovid-19. According to data from Transunion Cibil, a company working in the information and insight sector in the country, credit card popularity is increasing in non-metro cities. Cash has traditionally been used in these cities. In…
New Delhi: In its 2021 outlook for financial institutions amid Covid-19 recovery, Moody’s Investors Service said that capital will moderately fall in emerging Asia over the next two years. “Capital will moderately fall in emerging Asia over the next two years, and banks in India and Sri Lanka will post larger capital declines without public or private injections,” it said in a statement. It cited moderate and uneven economic recoveries amid the coronavirus pandemic as well as political and trade uncertainties pose risks for financial institutions in emerging markets throughout Asia, Latin America, Europe, the Middle East and Africa in…
Online business are the new normal. Yes, there was a time when entrepreneurs needed a lot of money to start a business. However, since now everything is turning online – websites and apps in education, health, shopping etc. you can easily set up a business with a strong business plan and unique idea. You can buy a domain name with a basic plan and start things going. All you need is the time management skills to understand how much time and money you are going to invest in the part-time business. If you are already on a full-time job then…
We are now ending the year 2020 with just a month and going to welcome the new decade 2021-2030 with full enthusiasm and energy. Although the year 2020 was quite dull and boring due to the pandemic, but it helped us realize what is most important in our lives – relations, finances and health. Thus, we need to now think of how to stay financially stable in the coming decade. So in case you have a job right now, it is time to write off some money from your salary or sources of income to an emergency fund that will…
If you are a college student and reading this, you are quite serious about your finances. If you get a salary from a part-time job or you get some pocket-money from your parents, you need to know and realize where to spend what and how to save your money. Money is an important instrument to get what one wants in life. If you are willing to buy a sports thing or go for a long holiday with your friends but don’t know how to ask from your parents, you can definitely save some amount of money every day or week…
Motorola has launched ‘Moto G 5G’, India’s cheapest 5G smartphone. The Moto G 5G, however, is not Motorola’s first 5G phone in India. Earlier Motorola has launched Razr 5G. Due to the low price of Moto G 5g, most people in the Indian market will be attracted towards buying 5G smartphones. The Moto G 5G is available in select markets in Europe. According to the statement issued by Motorola, the Moto G 5G smartphone supports 11 Global 5G network bands. With this, this phone will work on any Sub 6 5G band launched in India. This phone has been developed…
Retail investors are going to get another better facility. Now you can also invest in IPO through Paytm Money. Paytm has given this information on Monday. Paytm Money is a subsidiary of Paytm. Paytm said that the move is aimed at helping retail investors in investment and through this, wealth creation opportunities. The company said in a statement that the process of IPO application for retail investors has been made completely digital and simple. Paytm has said in the statement that through Paytm Money, investors will be able to apply for an IPO. They will be able to be a…
New Delhi: In a communication sent to Sitharaman, it expressed serious concern over granting of 10 per cent cash back or discount by some of banks on purchase made via their cards from e-commerce portals. It alleged that several banks are entering into an “unholy nexus with Amazon, Flipkart and other e-commerce companies, forming a cartel with them for indulging into anti-competitive practices and offending ‘Fair Practices Code’ of RBI for banks”. “CAIT has also charged the banks for infringing the ‘Fundamental Right to Trade’ and discrinination within the people of the country which is prohibited under the Constitution of…
New Delhi: Kaspersky and CERT-In said they will facilitate the fulfilment of mutual goals in order to mitigate a variety of sophisticated cyber threats. The partnership would create mechanisms to detect latest cyber security threats that can adversely affect the information assets and privacy of the general users in the country, and devise appropriate security measures to enable such users to secure their systems. “The pandemic has amply highlighted that we are codependent, interconnected and vulnerable. Our partnership with Kaspersky will help towards creating a robust, safe, secure and resilient digital economy in a vibrant digital India,” said Dr Sanjay…
New Delhi: Lakshmi Vilas Bank (LVB) is now amalgamated with DBS Bank India Limited (DBIL), the wholly owned subsidiary of Singapore-based DBS Group Holdings Ltd. In a statement on Monday, DBS Bank said that the scheme of amalgamation is under the special powers of the Government of India and Reserve Bank of India under Section 45 of the Banking Regulation Act, 1949, India, and has come into effect on 27 November, 2020. It added that the amalgamation provides stability and better prospects to LVB’s depositors, customers and employees following a period of uncertainty. The moratorium imposed on LVB was lifted…
Lucknow: Uttar Pradesh Government has claimed that the Yogi Adityanath led BJP regime has taken series of measures during past nearly four years for the welfare and overall upliftment of the sugarcane farmers and the industry. “The Yogi Adityanath government has enhanced sweetness of the sugarcane by increasing the daily cane crushing capacity of the of the sugar mills, fresh capacity addition for production of khandsari and ethanol and also the record payment to the farmers by the sugar mills,” said an official here on Sunday adding “the sweetness of sugarcane, which has been bitter for farmers due to mounting…
The Reserve Bank of India (RBI) can maintain policy rates for the third consecutive time in the December monetary review. Experts have expressed this opinion. Experts said that due to the increase in the rate of retail inflation, the Monetary Policy Committee (MPC) probably will not change interest rates once again. Retail inflation currently remains above the Reserve Bank’s satisfactory level. However, the growth rate of gross domestic product (GDP) in the second quarter of the current fiscal year ended in September has been negative, due to which the central bank may keep its monetary stance soft. Beyond this, interest…
New Delhi: The finance ministry has asked public sector general insurance firms, especially National Insurance, Oriental Insurance and United India Insurance, to rationalise branches and cut down avoidable expenses to improve their financial health, sources said. Earlier this year, the Union Cabinet decided to halt the merger process of three state-owned general insurance companies due to weak financial positions of these three companies. Instead, the government approved a fund infusion of Rs 12,450 crore to meet regulatory parameters. The finance ministry has asked these companies to cut the flabby rationalising branches and rein in other avoidable expenses like guest houses,…
Mumbai: The Centre, in a recent notification, mandated that only BIS certified two-wheeler helmets would be manufactured and sold in the country for two-wheelers. As per the notification: “QCO would mean that only BIS certified two-wheeler helmets would be manufactured and sold in the country for the two-wheelers. This would help in avoiding sale of low-quality two-wheeler helmets in the country which would, in turn, help in protecting citizens involved in two-wheeler accidents from fatal injuries.” After the implementation of new norm, the industry now estimates that the total demand of ISI helmets in India will go beyond the current…
New Delhi: Omega Seiki Mobility aims to bring in multiple electric products including two-wheelers, a four-wheeler cargo vehicle and a tractor over the next two years, as per a top company official. The company, which is a part of the Delhi-based Anglian Omega Group, also aims to set up manufacturing facilities across various parts of the country. Omega Seiki already has multiple manufacturing sites in Delhi/NCR. The company also plans to have around 200 dealerships across the country by the end of next year. It has earmarked an initial investment of Rs 200 crore for the projects and going ahead…