Author: Finance Khabar
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…
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…