Author: Finance Khabar

Mobile services rates in India are not logical right now. It is difficult to stay in the market at the current rates, so it is important to increase the rates. This is said by Sunil Mittal, chairman of telecom company Bharti Airtel (Sunil Bharti Mittal). He said that the market conditions will be seen before taking any decision in this regard. Mittal said these things in an interview. Asked whether China’s telecom equipment manufacturers will get approval for participation in the next generation 5G network, Mittal said that the big question is the decision of the country. Everyone will accept…

The number of followers on RBI’s Twitter has crossed 10 lakh. The Reserve Bank is the first central bank in the world to achieve this feat. With 1 million followers on the microblogging site, the Reserve Bank has overtaken the Federal Reserve and the European Central Bank (UCB) of the US. According to the information available on the Reserve Bank’s Twitter handle, its number of followers was 9.66 lakh on September 27, 2020, which has now increased to 10 lakh. Reserve Bank Governor Shaktikanta Das tweeted on Sunday, “The number of followers on the Twitter account of the Reserve Bank…

Microsoft has given a big gift to the users of its Teams platform. Users will now be able to make 24-hour voice and video calls on Microsoft Teams. To enable users to use the software more for personal use, the company has added some more features in the Teams application for both Android and iOS versions. On Microsoft Teams, users will now be able to create a group chat of up to 250 people and can see up to 49 members simultaneously during a virtual conversion. Let us know that users can join virtual calls on Microsoft Teams without Microsoft…

Mumbai: Economic recovery along with hopes of a Covid-19 vaccine will keep domestic stock markets high during the upcoming trade week. Analysts opined that markets are likely to oscillate between renewed fears of rising covid cases globally and optimism over vaccine development. Besides, profit booking as well as expensive propositions might dampen sentiments. Nevertheless, upcoming Q2FY21 GDP figures combined with sales push during the festive season is expected to arrest any major downslide movement. “Going ahead, the market is likely to be volatile as sentiments oscillate between fear of rising covid cases globally and optimism over vaccine progress,” said Siddhartha…

Mumbai: In a bid to expand its presence, Air India subsidiary Alliance Air will commence daily direct flight operations from Mumbai to Goa from December 4. “To cater to the upcoming festivities, the airline has introduced this new flight on the route to add to the convenience of the flyers who will be travelling to meet their family and friends in the festive season,” a company statement said. According to the airline, the all-inclusive one-way inaugural fare for Mumbai to Goa starts at Rs 2,957 and for Goa to Mumbai at Rs 3,171.Besides, the airline said that it is adhering…

New Delhi: Automation and Digitisation are two pillars of the economy in post-COVID time, said SoftBank Group International’s India Head Manoj Kohli, who took the post in April this year. Mr Kohli, who has recently launched Ritesh Wig’s ‘Leadership in Unrepresented Times’, said in an interview, “The world is moving towards constant disruptions, and technology changes bring ‘end to end’ digitization as innovation across the industry. Further, the wave shall continue for more than ten years. Automation and Digitisation are two pillars of the economy in post-COVID time. ‘The innovation of products is ‘Name of the Game’ due to consumer…

Mumbai: An expected slowdown in the rate of foreign fund inflows along with the upcoming Q2FY21 GDP figures is expected to weaken the Indian rupee during the coming week. Besides, expectations on a further stimulus has fanned fears of higher government borrowings. Nonetheless, rising virus infection in the US amid hopes of more stimulus is expected to keep the US dollar subdued. Consequently, the rupee is projected to range between 73.70 to 74.50 per greenback. “Flows into equity markets have been robust and supported the rupee,” said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities. As per estimates, more than…

New Delhi: India, which has not signed any trade agreement since 2012, will soon revive talks on the possible free trade agreement (FTA) with the European Union and the US. Even as the Narendra Modi government opted out of the Regional Comprehensive Economic Partnership (RCEP), it is keen on inking trade deals with other economic blocs, a highly placed source said, adding that India could gain significantly amid a growing anti-China sentiment in many parts of the world. The EU is India’s largest trading partner accounting for 11.1 per cent of total Indian trade, on par with the US and…

London: British finance minister Rishi Sunak will announce the heaviest public borrowing since World War Two when he spells out his spending plans next week after the biggest economic crash in over 300 years. With Britain in the midst of a second wave of Covid-19 cases and economic recovery on hold, Sunak has postponed longer-term plans for the public finances. Spending on the pandemic is on track to exceed 200 billion pounds ($265 billion) this year after the extension of job protection programs, and other costs are likely to spill into the 2021/22 fiscal year. Only the armed forces will…

New Delhi: A number of state-run and private banks have acquired 6.67 per cent stake each in financial technology firm IBBIC. These lenders include Canara Bank, Axis Bank, Indian Bank and South Indian Bank. All four banks have acquired 6.67 per cent stake each (representing 50,000 equity shares) in firm for a cash consideration of Rs 5 lakh. The indicative time period for completion of the acquisition is December-end, 2020. Further, the lenders said the company registration application of IBBIC will be submitted to the Registrar of Companies, Mumbai by the end of this month. IBBIC Private Limited is proposed…

New Delhi: Last month, Harley-Davidson and Hero MotoCorp announced their partnership for the Indian market. They have inked a distribution agreement, under which Hero MotoCorp will sell and service Harley-Davidson motorcycles. It will also sell parts and accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India. Harley-Davidson Managing Director (Asia Emerging Markets and India) Sajeev Rajasekharan said in a statement, “As we change our business model in India, we are pleased to be continuing our journey in the country together with Hero MotoCorp. We are working closely…

Mumbai: Mukesh Ambani, Chairman, Reliance Industries Limited (RIL) said on Saturday that the passionate and dynamic leadership of Prime Minister Narendra Modi has made the world sit up and take notice of the emergence of a New India. Addressing the convocation ceremony of Pandit Deendayal Petroleum University (PDPU) virtually, Ambani who is also President, PDPU said, “His confidence and conviction have inspired and galvanised the entire nation. I am sure that the bold reforms introduced under his leadership will pave the way for India’s swift recovery and rapid economic progress in the years to come.” “His passionate and dynamic leadership…

Priyanka Iyer The year 2020 has been full of twists and turns, which has resulted in several modifications in policies and revisions in deadlines. The matter of tax filing has been no different. The date for ITR filing has been extended again, for the fourth time this year. The deadline now has been extended to December 31, 2020. While it may seem like there’s a lot of time to file your returns, it would be good to file them before time. Any kind of delay closer to the deadline, may result in incurring late filing fees. Before understanding how to…

The RBI committee has proposed a new look at the domestic banking industry. Under this proposal, non-banking finance companies and major payment banks will be approved to act as lenders. This means that they will be able to work as banks. An investment banker kept his identity a secret and said that Bajaj Group, Piramal Group and Reliance Industries are in a better position to enter the banking sector. The RBI committee has proposed that banking regulations should be reformed so that large industrial houses can act as bank promoters. This means that they can have a large stake in…

Eduvanz has acquired the student mentoring app called Klarity. For the unaware, Eduvanz is a Sequoia-backed online education loan provider. It provides loans to students to be paid at a later date at zero interest rates in monthly installments instead of full yearly fees. Eduvanz has its presence in 250 cities and have provided more than than Rs 200 crore in loans, says a report. The four years old startup has so far gained investments of around $6 million from Unitus Ventures and Sequoia. Now the acquisition has helped Eduvanz get Klarity’s userbase of more than 200 industry mentors across…

Insurance is required to get the important financial security for your future. If you have been postponing the plans of buying an insurance product, then here is some advice for you. Check out the kind of coverage you require first – is it health, car, home, accident insurance? Depending on your requirement, select the insurance product with the right price so that you can get the right financial benefit at the appropriate time when you have to file the claim. Get in touch with an insurance agent who can provide you discounts for paying your policy in full amount, getting…

Taking a loan is not a joke and involves lot of procedures. Due to the coronavirus pandemic, the Indian economy is anyways going through a downturn. In this scenario as we are heading to welcome the New year in some days, you need to be extra careful if you are planning to take a loan in the coming days. A personal loan has to be taken only after understanding if you can pay your monthly expenses with your monthly income or not. Research the fintech company or bank very well before applying for a loan. Many advertise their loan offerings…

Amazon’s global Senior Vice President and India country head Amit Agarwal in a media interaction shared how the company has given jobs to almost one lakh workers in India. He said that Indian talent is a part of almost every offering of Amazon and involved in the many technology teams based in Bengaluru. Bengaluru’s office of amazon has the brightest and most talented IT professionals who bring on the table their unique dynamism, resourcefulness, and inventiveness. He also mentioned how e-commerce is bridging the gap between local and global products and businesses and that his company aims to reach out…

Not everyone knows how to manage their finances well. Money management doesn’t come naturally for many and has to be learned by consulting with experts or people who are already doing the same quite well. If you are someone who doesn’t know how and where to spend money then don’t start your month without a budget. Having a budget will help you understand better about where your money is being spent and what expenses are affecting your pocket. If you are the one who is careless about the increasing debts and not putting clearing your debts a priority then you…

JJ Tax App wins ‘Best Fintech Solutions Of The Year’ awardApp receives overwhelming response of more than 30,000 downloads within 6 months of launch JJ Tax App, an award-winning chat-based app launched by aspiring CAs in May 2020, surpassed its initial milestone by reaching 30,000 subscribers in less than 6 months since its launch. The company is also carrying out a rights issue of 30 million, which will help in strengthening the company’s financial position. Amidst the mammoth popularity and success of this app, PE funding of $100 million is expected by the end of this year. Executive Director Leesha…