Author: Finance Khabar
Chennai: “LVB has about 20 lakh depositors and lakhs of borrowers. It has 563 branches, about 970 ATMs and about 4,000 staff. These are being offered to DBS Bank India free of cost on a platter. It took 94 years to build LVB to this level. All that DBS Bank has to do now is to change the name and command an extensive presence across the country at the cost of retail shareholders,” said K. Ravindrakumar, former Director of LVB. “It’s really not easy to value the time and efforts; however, today every bank branch is valued at Rs 10…
New Delhi: Shares of FireEye jumped nearly 10 per cent in late trading on Thursday. Blackstone will be joined by ClearSky, a cyber security-focused investment firm, as a co-investor in the transaction. “Blackstone and ClearSky have a track record of developing and supporting industry-leading cyber security companies. Their investment validates our vision and provides financial, operational and leadership resources to accelerate our strategy,” said Kevin Mandia, FireEye chief executive officer. FireEye said it intends to use the funds to support strategic growth initiatives. In a separate statement, FireEye announced it will acquire security startup Respond Software for $186 million in…
The U.S. is expected to soon release the results of its analysis into the decisions of Austria, Italy and India to tax local revenue of the largest internet companies such as Facebook Inc. This may or may not lead to similar tariffs over digital tax from the other internet companies, says a report. Other countries where such decisions will be taken are are Brazil, the Czech Republic, Indonesia, Spain, Turkey, the U.K. and the European Union bloc. According to the report, Spain and the Czech Republic will begin collecting the digital-services tax in January next year.
Today, the domestic stock market has seen a boom again amid mixed global signals. The Nifty once again crossed 12850 in business. Sensex is also moving towards 44000. However, the big fall in RIL has reduced the market’s momentum today. Bank and IT shares have seen strong growth in the business. At the end of trading, the Sensex has gained 282 points and has closed at the level of 43882. At the same time, the Nifty has also closed at the level of 12859 after gaining 87 points. In today’s business, there has been good shopping in the market. There…
Banking business mainly includes accepting deposits and lending. Bank pays a certain amount of interest to people who deposit money in the bank. On lending, bank charges a certain amount of interest at a particular rate. The interest is paid at specific intervals or after the loan period ends. The interest is calculated as per the agreement terms between the bank and the customers. At times, it happens that a customer wants to pay a part of interest along with the principal amount. Whereas other times, if the customer wants to pay the principal in specific installments then the interest’s…
Hyderabad: After immunity-boosting Ginger, Tulsi and Turmeric variants of milk, Heritage Foods launched ready to drink immunity booster Ashwagandha Milk loaded with Ayurveda properties. Heritage Foods’ Ashwagandha Milk contains herbal extract Withania Somnifera blended with milk, a company release here said on Thursday. Ashwagandha combined with milk is a centuries-old Ayurveda remedy for numerous ailments. Ashwagandha is known for its variety of therapeutic activities and is one of the effective stress busters among Ayurveda Herbs, which ultimately boosts inner strength and immunity. It increases the vitality, combined with various anti-viral effects. The sterilised Homogenised flavoured Toned Milk has a shelf…
New Delhi: With an aim to provide financial services to remote locations Airtel Payments Bank has decided to expand its reach in the eastern state of West Bengal. Airtel money has a network of over 30,000 neighbourhood banking points spread across West Bengal, and plans to expand its banking points in the state by 50 per cent by March 2021, the company said on Wednesday. Now with the help of the Airtel Payments Bank over 12,500 unbanked villages in the state now have access to formal banking services. Over two million customers in these villages now have a savings account…
Moody’s Investor Service has projected (-) 10.6 per cent of India’s growth for the current financial year 2020-21. However, earlier this estimate was -11.5 per cent. Moody’s has changed its estimate because manufacturing and employment generation are being given prominence in India at the moment and focus remains on long term growth. Last week, the central government released a new financial package of 2.7 lakh crore. According to Moody’s, the central government initiative aims to enhance the competitive environment in the manufacturing sector in India and create jobs. This will increase investment and credit availability in the infrastructure in the…
ICICI Bank has launched a completely digital mode of payment at the famous retail stores. The facility is known as ‘ICICI Bank Cardless EMI’ (Equated Monthly Instalments) which enables lakhs of its pre-approved customers to buy their favourite gadgets or home appliances only by making use of their mobile phone and PAN instead of wallet or cards. Interestingly, the Bank has partnered with Pine Labs to provide this facility in retail outlets such as Croma, Reliance Digital, My Jio Stores and Sangeetha Mobiles. At these retail stores, customers can avail the ‘Cardless EMI’ facility to purchase electronics from brands like…
Chennai: With its order book full with trucks and construction equipment, the Indian plants of Swedish automobile major Volvo will be busy till March, said a top official of Volvo Group India. He also said the demand for commercial vehicles -goods carriers – is also picking up for VE Commercial Vehicles Ltd, a Volvo Group and Eicher Motors joint venture. According to Bali, the orders for trucks are mainly from coal mines, heavy construction and for construction equipment from the road construction sector. “There is pent up demand and it is being serviced now,” Bali added. Volvo’s trucks are used…
Apple has been fined $ 113 million (Rs 838.95 crore). The fine is on 33 US States and the District of Columbia charges. The company is accused of slowing down old iPhones to hide battery-related issues, so that users can buy new devices. State officials gave this information. In 2016, Apple calmly updated the models of iPhone 6, 7 and SE so that the chip speed is suppressed and the battery of the device does not send an increase in power to the phone processor and the phone does not stop suddenly. The States argued that Apple acted fraudulently and…
The domestic stock market has also witnessed weakness today amid weak global cues. There was a slight weakness in the market at the beginning of the business, but later the Sensex broke more than 500 points due to increased profit recovery. The Nifty also fell below 12800. In today’s business, the decline in back and financial stocks has been more. The biggest selling was done in public sector banks. The Sensex lost 580 points at the end of trading and closed at 43,599.96. At the same time, the Nifty declined by 180 points and closed at the level of 12758.…
Bangalore: In a sign that electric vehicles are gaining traction in India, AI-driven EMI financing platform ZestMoney on Thursday said that it has seen a 500 per cent month-on-month growth in customers opting for its “Buy Now Pay Later” solution for EVs. The number of EV dealers on ZestMoney’s platform have increased from 300 in July to 4,500 in November, the company said. The demand for electric scooters has increased over the last few months as people want to own a personal vehicle. With Covid-19 and need for social distancing, people are opting for low-cost electric vehicles to meet their…
New Delhi: During a high level review meeting on the progress made so far on the scheme by the Income Tax Department, it was ascertained that total 45,855 declarations have been filed in Form 1 till November 17 and disputed demand covered by these declarations amounts to Rs 31,734 crore. Also, the total disputed amount of the CPSUs being settled under the scheme is Rs 1,00,195 crore, sources said. Finance Ministry Sources said that the IT department decided to adopt a proactive approach for implementation of the scheme by regular monitoring of issue of Form 3 to taxpayers who have…
Applying for a personal loan is no longer a tedious task. Customers can get a personal loan to fund their large purchases and unplanned expenses from the comfort of their home, quickly without any hassle. On fulfilling the basic eligibility parameters prescribed by the lender, customers can get the funds in their account- making it a go-to solution when they need money. Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, offers personal loans to customers with a simplified borrowing experience. From instant approval to flexible repayment options, this loan is packed with features that translate into it…
Everyone has financial goals. Some have plans to travel abroad in the next five years while some want to buy a car in the next two years while some want to get their children admitted to a foreign university in the next 10 years. Since these goals have a lot of time to achieve, you have enough time to plan in advance. However, if your expense is quite huge and coming soon, then what you will do for such a thing? Due to the coronavirus pandemic and the economic downturn, interest rates in banks and financial companies are going down…
A huge private non-life insurance company received many calls for group health plans last month. The insurance company got these calls from some schools in Haryana who were looking only to get coronavirus insurance for all their teachers. Coronavirus hospitalization is not a joke and hence, getting teachers insured as the schools are slowly reopening in many states is what the authorities think about. Schools are looking for some guidance from insurance companies to provide COVID-19 specific group insurance as teachers are slowly being a part of the physical classes that are run in many schools in the country. Buying…
If you are wondering how to put your first step into starting a business, you will first need is a great idea. Well, it’s your business, you have to manage its whole growth, and hence if the idea comes from you then nothing like it. In order to come up with a great idea, all you need to understand is which problem is your business solving and what is the unique way to reach out to your target audience. Once you have answers to the above, then the next thing you can think is what is your plan to solve…
New Delhi: The price of the most popular cryptocurrency, bitcoin, grew by 8.6 percent on Wednesday morning, having risen above the $18,000 mark on Binance, one of the largest cryptocurrency exchanges in terms of trading volume, for the first time since December 2017, according to trading data. The last time bitcoin crossed the $18,000 mark was on December 19, 2017. Bitcoin accounts for approximately 66 percent of the entire global cryptocurrency market.
New Delhi: Bharti Airtel has started deploying 4G technology in 900 megahertz band, which it was using for 2G services, across 10 telecom circles to enhance indoor coverage of the high-speed mobile telephony, according to sources involved in the process. The refarming of 900 Mhz spectrum band for 4G services is underway in six circles of Delhi, Kolkata, Andhra Pradesh, North East, Karnataka and Rajasthan. The company will extend the exercise to more circles where it has liberalised spectrum in the 900 Mhz band, one of the sources said. A senior Bharti Airtel executive told that the company has already…