Author: Finance Khabar

The domestic stock market reached its all-time high today amid better global cues. Both the Sensex and Nifty indices have made new records in the business. The Sensex rose by nearly 500 points in today’s trading to 44600 levels. At the same time, the Nifty also reached beyond 13050. There was a record closing of both indices at the end of trading. The Sensex gained 446 points today and closed at the level of 44523. At the same time, the Nifty gained 129 points and closed at the level of 13055. In today’s business, good shopping is being seen in…

Ahmedabad: FMCG major Adani Wilmar Limited will mark the 20th anniversary of its highly popular Fortune brand on November 24 with a promise to keep delivering quality products to consolidate its position as India’s No. 1 Edible Oil Brand. Brand Fortune was launched on November 24, in the year 2000, with three humble offerings – Fortune Soyabean Oil, Fortune Sunflower Oil, and Fortune Cottonseed Oil. Fortune became India’s largest selling cooking oil brand within just 18 months of launch, and today it offers a range of oils spanning across soya, sunflower, cottonseed, mustard, groundnut, rice bran, and functional oils like,…

• Differentiated immersive experience for premium motorcycle customers• Delights riding enthusiast with exclusive range of premium motorcycles (300cc – 500c)• Exclusive one-stop sales & service centre for Honda big bikes Bareilly: After roaring into the mid-size motorcycle segment with its global debut of H’ness- CB350, Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) today elevated the Go Riding spirit with the inauguration of premium big bike business vertical- the Honda BigWing in Bareilly (Address: Commercial Plot No. C.P – 7/3, Pilibhit Bypass, Awas Vikas Yojna No. 7, Pocket-B, Nawada Jogiyan, Bareilly). Speaking on the inauguration of BigWing in Bareilly, Mr.…

On the occasion of completion of three years of the Umang app, its international version has been launched. However, it is currently only for select countries, including the United States, Britain, Canada, Australia, United Arab Emirates, Netherlands, Singapore and New Zealand. The international version of the Umang app can be downloaded by going to the play store of these selected countries. The international version of the Umang app was launched by Information and Technology Minister Ravi Shankar Prasad through a virtual conference. According to a statement, this step will help Indian students studying abroad, NRIs and Indian tourists to avail…

Muthoot Finance has launched the Muthoot Gold Shield Insurance Scheme. Under this, the company will provide insurance to customers for gold jewelery. To provide this insurance, Muthoot Finance has partnered with Bajaj Allianz General Insurance. Muthoot Finance will provide its customers with insurance schemes on gold jewelery at the time of closure of the gold loan and the redemption of the gold jewelery held by them. This coverage will be provided as a loyalty product. George Alexander Muthoot, MD, Muthoot Finance, says that as part of our customer loyalty program and social commitment, we are providing this insurance cover to…

The government is planning to install at least one electric vehicle (EV) charging kiosk at around 69,000 petrol pumps in the country. The government’s motive behind this is to encourage the demand for electric vehicles in the country. Road Transport and Highways Minister Nitin Gadkari has said this. Gadkari said in a virtual conference that the government has taken several steps to encourage electric vehicles, including reducing the GST on these vehicles to 5 per cent, allowing the battery cost of electric toweler and three wheeler to be kept separate from the vehicle cost. Go included. According to the minister,…

New Delhi: The pick up in auto sales during the festive season has revved up the business of insurers with motor premiums increasing 3 per cent yoy in October 2020. Motor premiums were down for most part of the current fiscal and it fell 4 pet cent yoy in 2QFY21. There has been a flurry of activity in automobile sales in October with four wheeler sales rising by 20 per cent and two wheeler by 15 per cent yoy. Robust festive demand and a gradual rise in freight volumes and utilization rates supported premiums, Kotak Institutional Equities said in a…

New Delhi: Economic reforms will continue at this pace to make India a major center or hotspot of global investment. Finance Minister Nirmala Sitharaman has given this confidence to the industry. She said this while addressing a virtual event organized by the Confederation of Indian Industry (CII) on Monday. The Finance Minister said that the government is taking steps towards making India a center of investment. The reforms will be continued. She also indicated some more major reforms in the future. She said that steps are being taken for some more reforms on a large scale. Sitharaman said that India…

Mumbai: The stock market was in the lead on Monday. The Sensex climbed 195 points and the Nifty closed 67 points higher. The main reason for this was the rise in the shares of Reliance, Infosys and TCS amid positive trend in international markets and inflow of foreign capital. The BSE Sensex rose to a high of 44,271.15 points on the day with the index of 30 companies. It finally ended at 44,077.15 points with a gain of 194.90 points or 0.44 percent. Similarly, the Nifty of the National Stock Exchange closed at 12,926.45 points with an increase of 67.40…

Mumbai: The exports of smartphones from India is expected to cross $1.5 billion (by value) this year — constituting 98 per cent of the total mobile phones exported from the country, a new report said on Monday. A total of 12.8 million mobile phones were exported from India from January to September this year and of these, 10.9 million units were smartphones, according to market research firm techARC. Samsung led the overall mobile exports with 11.6 million units, followed by Xiaomi at 0.6 million shipments, in the January-September period. The South Korean giant exported 9.8 million units of smartphones, followed…

Mumbai: Digital payments major Visa on Monday announced a collaboration with ICICI Bank on its ‘Visa in a Box’ programme for fintech acceleration. Through this collaboration, fintechs can access APIs and the developer sandbox of Visa and ICICI Bank, to rapidly build, test and deploy consumer payment applications, Visa said in a statement. ICICI Bank is the first bank to partner with Visa for its ‘Visa in a Box’ programme in India. “As part of the alliance, ICICI Bank and Visa have come together to help fintechs launch their prepaid card issuing programme in India. The bank offers its financial…

New Delhi: India may witness a current account surplus due to the recent economic reforms announced by the government, said the Chief Economic Adviser, Krishnamurthy Subramanian. Speaking at CII’s MNCs Conference 2020 on Monday, the CEA also said that the implementation of the labour law reforms has eased compliance burden by way of increased thresholds, change of MSME definition and easier retrenchment norms. “Owing to the economic reforms measures by the government, the Indian economy may witness a Current Account Surplus despite battling the COVID19 crisis,” he said The government has taken up several market liberalising measures including enhancing FDI…

E-commerce companies including Amazon, Flipkart have been facing serious allegations of collusion with banks. Traders have complained about this matter to the banking regulator Reserve Bank. The Confederation of All India Traders (CAIT) says that merchants across the country are suffering big losses due to cash back discounts given by banks on purchasing goods from the e-commerce portal. Banks, along with Amazon and Flipkart, are violating the fundamental rights of merchants and consumers. Also, it is also an open violation of the government’s FDI policy, which is being carried out by creating a cartel between banks and companies like Amazon-Flipkart.…

Delaying your retirement plans can help you be more financially independent as you won’t have to rely on your savings and can take care of your expenses based on your monthly salary. Healthcare is vital in today’s times and hence, if you are working in a well-established organization that pays you for your healthcare expenses then nothing like it. People who are between 50 to 60 years of age usually have increased medical expenses, which can be covered under the employer’s insurance policy. If you think of working for more years and not quit in your late 40s or early…

Credit cards are a famous way of paying for goods and services. They also help to enhance your credit score if you make proper payments before the last date. Discounts, cash-back and good deals on offers can be availed using credit cards. Credit card is a double-edged sword. You need to be smart and wise enough to apply for the right type of credit card and hence, you need to have done proper research of the financial institution or bank and the type of card you are applying for. Various types of credit cards are available for different kinds of…

Personal loans are usually given with less documentation process and quick approvals as compared to home loan or gold loan. Once you figure out how much loan you need for personal use and the duration of repaying the loan, you need to understand what is your eligibility to get maximum amount of loan. Maximum amount of loan is calculated based on your employment history, repayment capacity, income level, profession and credit history. You can use an online EMI calculator to understand how much deduction will happen from your monthly salary for how many years and at what interest rates. You…

People who are interested to buy homes have a news to rejoice after the recent repo rate cut by the RBI that has reduced the home loan interest to 7%. Lower EMI that provides a way for making savings is a dream come true for many home buyers. But note that those with credit scores over 750-800 are qualified to get home loans at such lower rates of interest. Hence, home buyers should check their credit score first before making the decision. Thus, many banks have come forward to offer less interest on home-loans. Customers can also get concession on…

Financial stability is based on our income sources and bandwidth. Having a systematic approach in handling finances should be followed for secured living. Every month, one needs to record expenses and reconcile their bank accounts. This type of budgeting can be helpful for the long run. If you want to buy anything online or in physical stores just to satisfy your wants or desires, think about whether the money spent on the product or service going to really add value to your life. If not, then you can delay the purchase and instead focus on what are your current needs…

New Delhi: State-owned Indian Overseas Bank (IOB) expects resolution of about Rs 18,000 crore of non-performing assets (NPAs) under the insolvency and bankruptcy process during the second half of the current fiscal, a move that will boost its bottomline. Besides, the Chennai-based bank is hoping to come out of the prompt corrective action (PCA) framework of the Reserve Bank of India (RBI) next fiscal. “We are hoping resolution of NPA cases worth about Rs 18,000 crore pending before NCLT (National Company Law Tribunal) in the second half…In the last quarter, resolution of some big account at NCLT will further strengthen…

New Delhi: The company got listed on stock exchanges in April 2018 and the government had raised Rs 438 crore by selling 26 per cent stake through IPO. The official said that with the opening of space sector to foreign investment and bringing defence sector under automatic route for 74 per cent foreign direct investment (FDI), MIDHANI shares are expected to attract investors. MIDHANI manufactures special steel and super alloys for use in defence, nuclear and space sectors. “We are looking at up to 10 per cent stake dilution via offer for sale,” the official said. Shares of MIDHANI closed…