Author: Finance Khabar
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…
Mumbai: In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the RBI has imposed monetary penalty on these entities for non-compliance of regulatory guidelines, it said in a release. Except Punjab National Bank (PNB), the remaining five entities are non-bank prepaid payment instrument (PPI) issuers. RBI imposes the penalty on Sodexo SVC India Pvt Ltd, Muthoot Vehicle & Asset Finance Ltd, QwikCilver Solutions Pvt Ltd, Phonepe Pvt Ltd, Delhi Metro Rail Corporation Ltd, and Punjab National Bank, said the release. Sodexo is slapped with the highest fine of Rs 2 crore; PNB and…
Chennai: In a BSE filing, the Hinduja Group company said VBCL is a 100 per cent subsidiary and the initial capital of Rs 60 crore was fully infused by the company at par of Rs 10 each per share. VBCL has been incorporated to carry on the business of bus body and coach-building, the filing said. In another notification, Ashok Leyland said its shareholding in Optare PLC, the United Kingdom, has come down to 91.63 per cent from 99.24 per cent following the conversion of loans by Hinduja Automotive Ltd into equity shares in Optare PLC. “We wish to inform…
New Delhi: The Rs 24,713 crore deal that would boost Reliance Industries’ fast growing retail business was announced in August. In a tweet on Friday, the regulator said it has approved “acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”. Deals beyond a certain threshold require approval of the Competition Commission of India (CCI), which keeps a tab on unfair business practices across sectors. As per the notice submitted to the CCI, there are at least seven target entities. They are Future Enterprises, Future Consumer Ltd,…
New Delhi: The company said it delivered 4,000 units of the car to customers during the festive season. HMIL Director (Sales, Marketing & Service) Tarun Garg said,”We have received an overwhelming response to the all-new i20 with 20,000 bookings in 20 days and more than 4,000 customers having taken delivery of this latest blockbuster product from us during Diwali season.” More than 85 per cent customers have opted for Sportz and above trims, showcasing a strong demand for advanced technologies offered on the all-new i20, he added. Garg said nearly 45 per cent customers preferred variants enabled with the company’s…
New Delhi: OneWeb, the Low Earth Orbit (LEO) broadband satellite communications firm, also announced new management with telecom czar Sunil Mittal at the helm as Executive Chairman. The UK government and Bharti Global are the new owners of OneWeb. Bharti Global — an overseas arm of Bharti — operates out of London and has investments in telecom, technology, hospitality, transportation and energy. “This is a telecom network in space,” Mittal, Founder and Chairman of Bharti Enterprises told PTI while terming the constellation of LEO satellites as a “game-changer”. Mittal said OneWeb is eyeing a full global coverage, including India market,…
Business payments startup EnKash has introduced a new product to ensure that payments are better simplified for businesses having various retail outlets or branches. The startup company has come up with a latest business prepaid card which will provide the head office of the business to financially control the whole business in a centralized manner. The idea will also give access to branch offices to financially transact with the help of their own prepaid cards. EnKash’s clients include corporate organizations and provides them with credit cards to keep a track on their daily transactions and expenses. The interesting move will…
We don’t live in the olden times when we needed to visit hospitals or take medical intervention only after the age of 50 or 60 years. Times have changed and you need medical help right from the day you are born nowadays because anything can happen at any point of time in life and one should be always prepared. Personal accident insurance policy is all about making sure you and your family are safe and financially covered from the medical risks and its impact that can affect your savings and long-term investments. Accidental disability is said to make anyone go…
Mumbai: An internal working group set up by the RBI has proposed to raise the cap on promoters’ stake in private banks from the current 15 per cent to 26 per cent in 15 years. The group has also recommended that large corporate or industrial houses may be allowed as promoters of banks only after amendments to the Banking Regulation Act and strengthening of the supervisory mechanism for conglomerates, including consolidated supervision. The Reserve Bank of India had constituted the internal working group (IWG) on June 12, 2020, to review extant ownership guidelines and corporate structure for Indian private sector…
New Delhi: The Sahara group has alleged that markets regulator is “acting biased” and is raising a “wrong demand” asking Sahara group to pay Rs 62,600 crore or $8.48 billion. “It is absolutely wrong demand by SEBI. Hon’ble Supreme court has in the past directed us to deposit the principal amount which is around Rs 24,700 Crore and already there are more than Rs. 22,000 Crore deposited. SEBI has mischievously added 15% interest from the beginning so they are very wrongfully mentioning $8.48 billion,” Sahara said in a statement. “In fact SEBI had advertised throughout the country through around 150…
If you are a freelancer who has registered yourself to get work assignments from online portals such as content writing, graphic designing, translation, etc., here is an important piece of information for you. As per a new report, e-commerce operators are required to pay you for your services after deducting tax at 1% under the latest section 194-O. As per the announcement made in the Union Budget 2020, the new section 194-O has started to come into effect from 1 October 2020. So in case you are seller of your products or services through e-commerce platforms, you are entitled to…