Author: Finance Khabar

New Delhi: A campaign has been launched across the country regarding GST fake invoice. Under this campaign, 25 people have been arrested so far in the last four days. A case of money laundering will be registered against them and their property will also be filed. One MLA’s son and two chartered accountants have also been arrested under this campaign. Action has been taken against these people under COFEPOSA. Explain that the procedure has been tightened for new GST registration. In many cases, physical and financial verification has now been made necessary. The Directorate General of GST Intelligence i.e. DGGI…

New Delhi: The Indian stock market is currently trading at an all-time high. The stock market had dropped to 25600 levels during the lockdown in March. In the last eight months, it has jumped 70 percent from its minimum level. Still, foreign portfolio investors (FPIs) remain positive on Indian markets. So far in November, FPI has invested Rs 35,109 crore in Indian markets. Investors’ perception has been strengthened by better quarterly results of companies and government measures to encourage investment activity. According to depository data, FPI has invested Rs 29,436 crore in equities and Rs 5,673 crore in debt or…

New Delhi: The Confederation of All India Traders (CAIT), which claims to represent tens of millions of firms across the country, said that sales of its members during the one-month festive season that ended on Saturday increased to more than 720 billion rupees ($9.7 billion). “People didn’t purchase anything in the last eight months except essentials. Hence people had enough surplus money, and a portion was spent on Diwali festivities,” Praveen Khandelwal, CAIT’s secretary general told Reuters. CAIT members include retailers who sell everything from electrical items to furniture and footwear. The trade body said it gathered sales data from…

New Delhi: China and 14 other Asian countries have agreed to form the world’s largest free trade bloc with nearly a third of all economic activity. The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations (ASEAN). “RCEP will soon be ratified by signatory countries and take effect, contributing to the post-COVID pandemic economic recovery,” said Nguyen Xuan Phuc, Prime Minister of Vietnam, which hosted the ceremony as ASEAN chair, Al Jazeera reported. The report said RECP will take tariffs lower between member…

Mumbai: Terming the latest measures as “Atmanirbhar Bharat 3.0”, Finance Minister Nirmala Sitharaman on Thursday had announced a number of steps ranging from EPFO support, fertiliser support to collateral free credit to stressed sectors. “While the estimated benefit of today’s package is Rs 2.7 trillion (1.3 per cent of GDP), our calculations suggest the actual fiscal outgo could be a maximum of Rs 1.1 trillion (0.5 per cent of GDP),” said that report titled “ECOSCOPE – The Economy Observer”. This, along with the Pradhan Mantri Garib Kalyan Package (PMGKP), the first two packages under the ‘Atmanirbhar Bharat Abhiyaan’, and extension…

New Delhi: In its response to the Telecom Regulatory Authority of India’s (TRAI) consultation paper on ‘Roadmap to Promote Broadband Connectivity and Enhanced Broadband Speed’ said that connectivity speed of more than 2Mbps standard is a mainstream requirement in the market for internet access. It noted that the National Telecom Policy of 2012 called for the redefinition of broadband “to 2 mbps by 2015 and higher speeds of at least 100 mbps thereafter”. The International Telecommunication Union (ITU) also defines broadband as “transmission capacity that is faster than primary rate Integrated Services Digital Network (ISDN) at 1.5 or 2.0 Megabits…

MUMBAI: The domestic stock market, which recorded an increase last week, will also have an impact on the cases of corona virus covid-19 infection and the ongoing efforts in the world to deal with it. Apart from these, economic data to be released next week, trends of foreign institutional investors, rupee movement, fluctuations of crude oil prices in the international market and global scenario will also keep an eye on the investors. The stock market had a stormy rally last week and the BSE Sensex rose by a weekly gain of 1745 points to 43,637.98 points and the National Stock…

New Delhi: The Indian conglomerate is expanding its so-called new commerce venture, which ties neighbourhood stores to Reliance for online deliveries of groceries, apparel and electronics in a space currently dominated by Walmart Inc’s Flipkart and Amazon.com Inc’s Indian arm. The purchase “will further enable the group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group,” Reliance said in a filing to exchanges on Sunday. Reliance Retail Ventures Limited, a unit of Reliance Industries, has an option of buying the remaining stake, the company said, adding that it intends to invest a further…

Mumbai: The domestic stock markets touched record highs during the special Muhurat trading session held on Saturday on the first day of Hindu Samvat 2077. The 30-share BSE Sensex rose 194.98 points or 0.45 percent to close at a record 43,637.98 in Muhurat trading. It reached an all-time high of 43,830.93 during the Muhurta business. Similarly, the NSE Nifty gained 60.30 points or 0.47 percent to close at 12,780.25, the highest level ever. The Nifty touched a record level of 12,828.70 during Muhurat trading. During this period, the Sensex saw Bharti Airtel, Tata Steel, Sun Pharma, Bajaj Finserv, ITC, Infosys,…

Due to the coronavirus pandemic, sales incentives which had cash bonuses, international trips, rich parties at casinos every year has been replaced with e-rewards for life insurance agents. However, e-rewards don’t seem to lure the attention of star performer life insurance agents. Moreover, 2020 has been a dull year for the life insurance sector not just because of less sales but also the real incentives have been missing from the agents’ lives. Moving to online events of all annual party of agents all over India due to coronavirus and the lockdown along with the sales incentive that is being offered…

Baaz is a Bengaluru-based startup that was started in March 2020. The startup company provides solutions in the form of a mobile app to retail stores by organizing live video shows to display their products, manage their inventory, give answers to LIVE customer queries, and collect secure and quick payments. The company’s aim is to give a complete LIVE video shopping experience to the customers. Baaz’s CEO Hamda Khochtali in a media interview revealed how the company gives importance to people over processes. He said that they didn’t cut their salaries of its team, which almost increased by 10% since…

In order to save for children’s education needs, parents have to consider both the roles of equity and debt asset-classes. If you are looking for a suggestion to choose between some schemes and equity mutual funds, here are some tips. If your child is below the age of 10, then you can choose equity investments as they provide huge returns in the longer duration. For a child who is in his or her teenage, then you can look for allocating your funds in debt (30%) and remaining in equities (70%). If your child is now an adult and his or…

People who take personal loan may have many reasons such as medical emergency, children’s higher education or some huge purchases in their lives. A personal loan is the best way to collect funds from the bank without much challenges. Experts are of the opinion that people should opt for a longer term as the tenure of the loan. It will reduce the EMI outgo and also improve the overall interest. Best tenure for personal loan is between 1 to 5 years. Before taking pre-approved loans from banks or fintech companies, make sure to calculate the interest rates as the total…

FinanceKhabar.com is a finance news website that aims to reach out to more people who are looking to stay updated about the latest happenings in the business world. At FinanceKhabar.com, we provide you latest information on Fixed Deposit, Personal Loan, Home Loan, Mutual Fund, Insurance, Credit Card, Startups and Banks. The idea of the website is to encourage wise financial planning among people of all age-groups and support them in creating a smart and secured financial future. On the memorable occasion of Diwali, we at FinanceKhabar.com wish all our readers a very happy festival season and hope you attract more…

Mumbai: Lucknow Municipal Corporation(LMC) on Friday successfully raised Rs 200 cr by issuing municipal bond on private placement basis using BSE BOND (EBP Platform). BSE had launched the platform for Electronic Book Mechanism “BSE BOND” for issuance of debt securities, four years ago, on private placement basis. LMC received 21 bids on BSE BOND platform for Rs.450 crores, 4.5 times of the issue size. BSE is the preferred choice amongst Municipal Corporations to raise debt as this was the 8th successful Municipal Bond Issuance on BSE BOND platform. Out of the total 11 Municipal Bond Issuances totalling to Rs 3689.9…

New Delhi: Accordingly, the company had to increase production to meet the surge in demand. “The revenue from passenger vehicle sales was up by 86.3 per cent y-o-y and the business achieved EBITDA breakeven on the back of significantly improved range of products, volume scale up and strong savings programme to reduce indirect costs. “Additionally, this growing performance was sustained in October as well when we posted a healthy growth of 22 per cent (YTD) vis-a-vis last year (April-October),” Chandra said. Last month, the company witnessed a 79 per cent YoY growth to 23,617 units from 13,169 units sold in…

New Delhi: Sangita Reddy, President of FICCI said: “We saw a powerful multi-sectoral boost coming in from the government today. The clear focus on housing, infrastructure and construction shows that the government wants to leverage the huge multiplier impact these sectors have to rev up the economy that is already showing multiple signs of recovery.” Describing the package as Diwali bonanza, Reddy said that the measures will lift growth, employment, exports and make India part of the global value chains. The President of PHD Chamber of Commerce and Industry, Sanjay Aggarwal, said that the reforms will have a multiplier effect…

New Delhi: The country’s foreign exchange reserves have increased to an all-time high of $ 568.494 billion with an increase of US $ 7.779 billion. The Reserve Bank of India (RBI) has released this data for the week ending on 6 November. In the week ending October 30, the reserves had increased by $ 183 million to $ 560.715 billion. The increase in foreign exchange reserves during the week under review was due to increase in foreign currency assets (FCA), which is a major part of total reserves. According to the RBI’s weekly data, FCA increased by $ 6.403 billion…

New Delhi: Infosys, on Friday, informed the stock exchanges that “4,01,000 equity shares (representing 0.01 per cent) of Infosys Ltd by way of gift as off market transaction on November 12, 2020″ were given to Shibulal. The filing did not mention who gifted these shares. A separate regulatory filing stated that Shibulal”s wife Kumari had gifted 4.01 lakh shares on the same day but the name of the recepient was not disclosed. Kumari”s shareholding in Infosys has now come down to 0.21 per cent while that of Shibulal increased to 0.05 per cent, as per the filings. Post the transaction,…

Mumbai: The sale of gold this year on the auspicious occasion of Dhanteras has been 30 per cent more than the previous year. People bought gold worth a staggering Rs 20,000 crore during the festival in 2020, according to the India Bullion and Jewellers Association (IBJA). IBJA’s national secretary Surendra Mehta told, “Last year, about 30 tonnes of gold was sold. The sale has been about 40 tonnes this year,” Mehta said. He said that while gold sales have increased by 30 to 35 per cent over the previous year, the price has increased by about 70 per cent. Mehta…