Author: Finance Khabar

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…

Chennai: The Reserve Bank of India (RBI) on Tuesday proposed a draft scheme of amalgamation of the beleaguered Lakshmi Vilas Bank with DBS Bank India Ltd, a wholly-owned subsidiary of DBS Bank Ltd, Singapore. The RBI has also placed the Lakshmi Vilas Bank under moratorium for 30 days and superseded its Board owing to serious deterioration in the lender’s financial position. T.N. Manoharan, a former Non-Executive Chairman of Canara Bank, has been appointed as the Administrator of the bank. According to the RBI, DBS Bank, Singapore is a subsidiary of Asia’s leading financial services group, DBS Group Holdings Ltd, and…

Chennai: Mahindra Logistics Ltd, a service provider in supply chain management, has set up a ”Built-to Suit” warehousing capacity in neighbouring Kancheepuram district, the company said on Tuesday. The 3.50 lakh square foot warehousing capacity would allow Mahindra Logistics Ltd to provide ”flexible and scalable” fulfillment and integrated distribution solutions. “We are happy to unveil this Built-to-Suit facility, our largest in Tamil Nadu. This space will cater to two of our key clients in e-commerce and auto-engineering industries”, Mahindra Logistics Ltd MD, Rampraveen Swaminathan said in a company statement. The facility situated in Kancheepuram district is focused on integrated solutions…

Mumbai: British premium motorcycle maker Triumph Motorcycles on Tuesday unveiled globally the latest bike in its Tiger series — Tiger 850 Sport, which is expected to hit the Indian market next year. Developed from the latest generation Tiger platform, the latest motorcycle comes with the perfect combination of dedicated 850 Tiger triple engine set-up, and tailor-made high specification equipment and technology, it said in a release. Currently, Triumph offers a BS-VI compliant range that includes Modern Classic, Adventure and Roadster categories, including the iconic Rocket 3R, the Rocket 3GT and Tiger 900. The new Tiger 850 Sport is powered by…

New Delhi: The Reserve Bank of India (RBI) has placed Laxmi Vilas Bank in the Moratorium on Tuesday. RBI said that he took this decision because he did not have any reliable revival plan. According to the RBI, it has done this in view of protecting the interests of depositors and financial and banking stability. Lakshmi Vilas Bank Limited has been kept in the Moratorium for 30 days. By December 16, the limit of withdrawal of money from the bank has been fixed at 25 thousand rupees. The Reserve Bank said that there has been a sharp decline in the…

Mumbai: The Reserve Bank of India (RBI) has appointed Infosys co-founder Senapathy (Kris) Gopalakrishnan as Chairperson of the RBI Innovation Hub (RBIH). The RBI in its Monetary Policy Statement on Development and Regulatory Policies dated August 6, 2020, had announced that it will set up the RBIH to promote innovation across the financial sector by leveraging on technology and creating an environment which would facilitate and foster innovation. In a statement, RBI said that innovation hub would be guided and managed by a Governing Council (GC) led by a Chairperson. “The Reserve Bank has appointed Senapathy (Kris) Gopalakrishnan, co-founder and…

New Delhi: Indian consumers of all ages are shopping online more due to the Covid-19 pandemic, with more than 68 per cent reporting an uptick since Covid-19 started, a survey by cybersecurity firm McAfee said on Tuesday. The results, however, showed that consumers are not adequately safeguarding themselves online, considering only a quarter — 27.5 per cent — Indians use online security solutions. While over half of Indians feel cyber scams are more prevalent during the holiday season, yet, 42.3 per cent are planning to do more of their holiday shopping online, showed the findings of the “2020 Holiday Season:…

New Delhi: Yes Bank on Tuesday said it has launched a co-branded prepaid card in partnership with Neokred Technologies to facilitate cashless payments. The card offerings can be personalised to suit the requirements of corporates seeking salary cards or expense cards for their employees. Yes Bank in partnership with Neokred Technologies has launched ‘Yes Bank Neokred Card’, a co-branded prepaid card, encouraging cashless payments, the lender said in a release. The prepaid card will be offered to Neokred’s corporate partners across various sectors, including healthcare, financial institutions, NBFCs, oil companies, educational institutions, FMCG and infrastructure. The prepaid card can be…

New Delhi: The Chairman and members of the 15th Finance Commission on Tuesday presented a copy of the panel’s report for 2021-22 to 2025-26 financial years to Union Finance Minister Nirmala Sitharaman. The Commission had submitted its report to the President of India on November 4 and to the Prime Minister on November 16. “Chairman @NKSingh_MP and Members of the 15th Finance Commission presented a copy of the Commission’s report for 2021-22 to 2025-26 to Finance Minister @nsitharaman today,” the Ministry of Finance tweeted. The report will be tabled in Parliament along with ‘Explanatory Memorandum’ by way of Action Taken…

The domestic stock market has witnessed a great boom amidst strong global cues. Sensex and Nifty reached new highs in business. Sensex has crossed 44000. At the end of trading, the Sensex gained 315 points to close at the level of 43953. At the same time, the Nifty also gained 94 points and closed at the level of 12874. This is a record closing for the market. In today’s business, banks and metal stocks have seen strong boom. Yesterday, Maderna claimed that her corona vaccine was 94.5 percent successful in treatment. Pfizer had previously claimed that its vaccine was 90…

New Delhi: The contribution to debt scheme for the month of October totalled to 4 lakh investor accounts, taking the total tally to 9.37 crore, according to the mutual fund industry. Market experts said the addition of folios suggests that investors were undeterred by the market volatility. Besides, it indicates their understanding of the market risks associated with the mutual fund schemes, they added. According to data from the Association of Mutual Funds in India (Amfi), the number of folios with 45 fund houses rose by 4.11 lakh to 9,37,18,991 at the end of last month from 9,33,07,480 at September-end.…