Author: Finance Khabar
New Delhi: The addition of new servers to the network triggered the massive outage of Amazon Web Services (AWS) last week, affecting several websites and apps, the company has acknowledged. AWS, which is the Cloud arm of e-commerce behemoth Amazon, said they were able to confirm a root cause which was not driven by memory pressure as earlier reported. “Rather, the new capacity had caused all of the servers in the fleet to exceed the maximum number of threads allowed by an operating system configuration,” the company said in a technical blog post. “As this limit was being exceeded, cache…
The Goods and Services Tax Network (GSTN) along with tax officials have decided to persuade 25,000 taxpayers, who have defaulted to file their GSTR-3B returns by the November 20 due date for the month of October, to file the same. Tax officials have been directed to follow up personally with these defaulting taxpayers so that their GSTR-3B returns due for October get filed by Nov 30. These 25,000 taxpayers, who have not yet filed their returns, were identified on the basis of last month’s statistics, said sources in the Department of Revenue on the condition of anonymity, after a high-level…
New Delhi: In view of the ongoing COVID-19 pandemic and the vulnerability of elderly population to the deadly virus, the EPFO has extended the time limit up to February 28, 2021 for submission of Life Certificate (Jeevan Pramaan Patra) in respect of the Pensioners drawing pension under the EPS 1995 and whose Life certificate is due in any month till February 28, 2021. Presently, a Pensioner can submit the JPP anytime during the year up to November 30, which is valid for a period of one year from the date of issue, the Ministry of Labour and Employment said in…
New Delhi: The retail inflation for industrial workers increased to 5.91 per cent in October. In September, the retail inflation for industrial workers stood at 5.62 per cent in September. Food inflation stood at 8.21 per cent as against 7.51 per cent in the previous month and 8.60 per cent during the corresponding month a year ago. The maximum upward pressure in current index came from food and beverages group contributing (+) 1.29 percentage points to the total change, it said. “Year-on-year inflation based on all items stood at 5.91 per cent for October 2020 as compared with 5.62 per…
Washington: HSBC Holdings Plc is considering a complete exit from retail banking in the United States after narrowing the options for how to improve performance at its struggling North America business, the Financial Times reported on Saturday. The bank’s senior management aim to present the plan to the board in the coming weeks, the FT reported, citing people familiar with the situation. HSBC said last month it planned to reduce annual costs to below $31 billion by 2022, a more ambitious target than it set out in February and well below the operating expenses of $42.3 billion it reported in…
If you are quite good at academics (no need to be a topper though) and are able to convey your knowledge through written or oral communication, then time to start up with a new venture on online teaching. As schools and colleges have been closed since a long time and the education industry is still figuring out how to reach learning to the masses and classes, let’s innovate with your skills and encourage you to set up your business in EdTech. Take a subject of your choice. Start reading about it and making notes. Then go to YouTube or Facebook…
Mumbai: The bull may continue to dominate the equity markets in the coming days, but the only concern at this point is the “too strong” derivatives data, which may lead to a rapid sell-off in case of a course reversal, a Motilal Oswal Retail Research report suggested. The report said that at current juncture, the market is in bulls grip and dips are getting bought into quickly. Nifty’s derivatives data is also positive and it indicates continuation in ongoing momentum. It, however, said FIIs index futures data signifies they are overbought in the Indian market and any unwinding of longs…
A study says that women are not that good at maintaining wealth as compared to men. And it seems such research has a huge impact on the thinking of the men and the Indian society. No wonder we see men always having a hold over the financial matters and women being asked to follow their responsibilities of a homemaker. Women are sidelined always even while men take the decisions on buying a car or new home or making any type of new investment. If you are a woman reading this and belong to such an outdated family thinking then it…
With India being an attractive destination for foreign funds despite the pandemic, FDI inflow rose 15 per cent during the April-September period to $30 billion. During the same period last fiscal, total FDI inflow stood at $26 billion. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), Mauritius and Singapore were the biggest sources of FDI for India with 29 per cent and 21 per cent contribution respectively. The US, Netherlands and Japan followed with 7 per cent contribution each. Among the sectors, services sector continued to lead with the highest amount of FDI coming…
Commerce and Industry Minister Piyush Goyal on Saturday said that the increase in foreign direct investment (FDI) into India in July-September 2020 to $28.1 billion indicates global investors’ preference for the country’s enabling environment. The FDI during September quarter 2019 stood at $14.06 billion. “Despite COVID, FDI doubles year-on-year upwards arrow. Indicating global investors’ preference for India’s enabling environment under PM @NarendraModi ji, FDI increased from USD 14.06 billion to USD 28.1 billion in the July-September quarter,” he said in a tweet. As per the quarterly fact sheet on foreign direct investment from April-September, FDI in India grew by 15…
Mumbai: The Centre’s push for ethanol seems to have encouraged the sugar factories to increase cane crushing, as 149 mills in Maharashtra have produced 109 lakh quintal sugar within a fortnight of the beginning of the crushing season this year, an official said. The Centre had, in 2018, allowed sugar mills to produce ethanol directly from sugarcane juice, unlike earlier when there was a restriction on using molasses as a base. Recently, the Union government had decided to allow the use of the old stock of wheat and rice for ethanol production that can be blended with petrol and diesel.…
We don’t live that financially stable or secured all the time considering our era is unprecedented and anything happens at any point of time. If you are having challenges to pay off your home loan, consider these options. Consult with your bank manager and understand if there is any possibility to change the terms of your home loan. Know whether you can extend your loan tenure or is there any other feasible option. You can replace your existing home loan with a new one with new rules. Refinancing is a good option to lower your payments and spread it for…
Since Navratri came in India, the festive season has begun, which will continue till New Year 2021. Expenses obviously increases whenever there is a festival or special event happening in one’s life. Thus, one can take funds like a personal loan for a short period that can be repaid in less than 90 days in order to enjoy the festival or event to the fullest. Personal loan is not like car or home loan and has good flexibility to spend money and even repay the money. There are no huge processes also involved as it is an unsecured loan. One…
New Delhi: Move beyond smart speakers as smart displays have come of age and in Q3, the sales of smart display speakers rose by 21 per cent (on-year) to reach 9.5 million units while sales of basic smart speakers (without a display) fell by 3 per cent over the same period. According to a report by market intelligence and research firm Strategy Analytics, Amazon and Baidu lead the market for smart displays. The best-selling devices in Q3 were the Amazon Echo Show 5 and the Baidu Xiaodu Zaijia 1c. Smart speaker users are switching increasingly to display-based devices or Smart…
New Delhi: As the pandemic has significantly impacted the operations of businesses and people’s working model, housing preferences also have changed and the demand for holiday homes or second homes has increased in the past few months. According to Aditya Kushwaha, CEO & Director Axis Ecorp, the need for a perfect balance between work and personal life has fuelled the concept of a weekend retreat in a holiday home. “Due to the COVID-19 pandemic, the concept of a holiday home or a second home has gained widespread acceptance. With most of the corporate professionals working from home, geography is no…
Mumbai: Nearly 65 per cent of the domestic air travel has returned to the pre-COVID-19 level and now there is a need to evolve a strategy to bring back the tourism industry on its feet, Civil Aviation Secretary Pradeep Singh Kharola said on Saturday. He was addressing a webinar on ”Aviation and Tourism-the Road Ahead” hosted by the Federation of Association of Indian Tourism & Hospitality (FAITH). Kharola also said in the times of COVID-19 air travel has become a preferred mode of travel for being a safe means of transportation. “On the first day of resumption of domestic air…
Paytm has collaborated with SBI Card to launch two new credit cards called as Paytm SBI card Select and Paytm SBI card. The initiative is to assist digital-first customers who prefer to do their shopping online only and caters to customers from tier-2 and tier-3 cities. One can apply to the new credit cards via Paytm app. The yearly fees comes at Rs. 1499 for Paytm SBI caard Select. For Paytm SBI card, the annual fees is Rs. 499. SBI will fix a credit limit once you apply for these cards through the Paytm app, which will be based on…
The country’s fiscal deficit rose to Rs 9.53 lakh crore by the end of October in the current financial year, which is about 120 percent of the annual budget estimate. According to the official data released on Friday, the deficit has increased mainly due to lower revenue collection. The lockdown imposed to prevent the spread of the corona virus epidemic has adversely affected business activities. This has impacted revenue collection. At the end of September this year, the fiscal deficit was 114.8 per cent of the annual budget estimate. Realistically, according to the data of the Comptroller and Auditor General…
The country’s GDP (Gross Domestic Product) has fallen by 7.5 percent in the July-September quarter of the financial year 2020-21. This information has come out from the data released on Friday. The decline was 23.9 percent in the April-June quarter, the highest in the last 40 years. Even if the decline in GDP is less than the previous quarter, but due to two consecutive quarterly declines in GDP, the country has gone into a phase of technical retention in the first half of the current financial year. The Chief Economic Advisor of the country, KV Subramanian has said about the…
Mumbai: Quick service restaurant (QSR) chain Burger King will hit the capital markets on December 2, and the price band of the initial public offering (IPO) has been fixed at Rs 59-60 per share. The proposed IPO will see the Indian subsidiary of the US-based Burger King raise Rs 810 crore, comprising a fresh issue of shares amounting to Rs 450 crore, the company said at a virtual road show. Promoter entity QSR Asia Pte Ltd will sell up to 6 crore shares, aggregating to Rs 360 crore at the upper end of the price band, it added. The company…