Author: Finance Khabar

An emergency fund or reserve is the need of the hour these days. We live in coronavirus times where anything can happen to anyone. Hence, a good financial plan must include an emergency corpus to move towards a stable and secured life. It also gives peace of mind to the family and savings fund is used for the right purpose at the right time. An emergency fund should include living expenses of atleast a year. Hence, slowly saving an amount can lead to a higher fund. Health insurance can help you cover only health-related urgencies. So, ensure to create a…

Mumbai: Smartphone shipments in India reached 54.3 million units in the third quarter of this year, a growth of 17 per cent year-over-year, showed data from industry tracker International Data Corporation (IDC) on Friday. India was the only smartphone market in the top 3 to witness growth, as both the China and the US markets declined year-over-year in the July-September quarter, said IDC’s Quarterly Mobile Phone Tracker. The reopening of the economy in India with fewer restrictions was further fueled by pent-up demand in July and August and channel stocking in September to meet the upcoming Diwali quarter demand. In…

In order to prevent frauds and also give rations at affordable rates to the poor population of the country, the government has cancelled 4.39 crore ration cards in the last seven years. The Ministry of Consumer Affairs, Food & Public Distribution said that the decision has been taken so that misuse of ration cards by fraudsters gets a fullstop. With crores of old ration cards cancelled, the government also said that the new cards are regularly being given to the concerned person so that only eligible people and households get the ration. The ration cards are also being released on…

Union Home Secretary Ajay Kumar Bhalla has said on Friday that the government is indecisive on whether Chinese telecom companies will be a part of the 5G trials in India. However, he also recognized that the penetration of the Chinese country in the existing network is too huge. Bhalla however clarified that the government is taking special measures to make sure that the communication network of India is secured. The home secretary also said that till India gets another option in the place of China, the existing facilities cannot be shut drastically. The US has removed Huawei, smartphone company due…

Finance Minister Nirmala Sitharaman has promoted the use of digital transactions. This will help to understand the GDP of India in a better way opines the minsiter. Nirmala also added that the assessment of GDP will improve with the medium of digital transaction’s purview. Cash usage should be reduced considerably in order to made only when in emergency. The minister said these points in a national tax conference 2020 which gave importance to the role of tax practitioners in educating the masses. The minister also appreciated that since 2014 when Modi government came into power, the taxation process has been…

New Delhi: A majority of respondents in a survey want the government to make “mandatory linking of all property ownerships with Aadhaar” and “mandatory disclosure of all assets of all ministers and government employees and their direct families” as a way forward to curb black money. The recommendation from people about disclosures applies not just to Central Government and Public Sector Undertakings but also to all State Government Ministers and Employees and their direct families. One of the key issues identified by people continues to be the usage of shell companies by public officials to accept bribes. Citizens have listed…

New Delhi: Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan on Friday called upon the various stakeholders in the Liquified Natural Gas (LNG) sector to mount a campaign to make users aware about the benefits of this fuel. Addressing a webinar on ‘LNG as a Transport Fuel’ here, he said that LNG is a fuel of the future, and its cost benefit and other advantages over other fuels must be communicated in an aggressive and specific manner. He said that less cost of the LNG will attract the bulk and large consumers, if the message reaches them…

Mumbai: The equity market remained firm for the fifth consecutive session on Friday as the BSE Sensex advanced by 552.90 pts at 41,893.06 following gains in Reliance Industries, Bharti Airtel, HDFC Bank and Kotak Bank amid strong global cues. The Nifty of national stock exchange too rose by 143.25 pts at 12,263.55. The sensex moved up by 98 pts to 41,438.76. Till the end of the session it rallied by 614 pts to 41,954.93, days high before closing at 41,893.06, up by 552.92 pts from its last close. The sensex registered days high and low at 41,954.93 and 41,383.29 pts…

Tamil Nadu Apex Skill Development Centre for Healthcare launched by Hon’ble Chief Minister of Tamil Nadu, Thiru Edappadi K. Palaniswami An MOU was signed on 30 Nov 2019 between Govt of Tamil Nadu and Kauvery Hospital to set up Apex Skill Development Centre for HealthcareThe centre is built with an aim to provide high end skill training in Hospital and Healthcare services sector, Chennai: Kauvery Hospital, one of the leading health care centres in Tamil Nadu and the Tamil Nadu Skill Development Corporation launched today the Tamil Nadu Apex Skill Development Centre for Healthcare (TNASDCHC). Hon’ble Chief Minister of Tamil…

The bank currently services over 18 Lakh customers through a network of about 700 branchesThis tie-up enables the bank to further add momentum to its health insurance services Rajasthan : Care Health Insurance (formerly Religare Health Insurance), one of India’s leading health insurers, today announced its ‘Bancassurance’ partnership with AU Small Finance Bank, which is a Scheduled Commercial  Bank and among the largest small finance banks in the country. With the bank’s widely distributed network, Care Health Insurance looks forward to further expanding its national footprint – specifically in the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh & Chhattisgarh out…

Amazon Founder and CEO Jeff Bezos this week has sold more than $3 billion worth of shares in his company, according to new filings with the US Securities and Exchange Commission (SEC). This marks a significant jump from last year when Bezos sold $2.8 billion worth of shares, CNBC reported on Wednesday. According to Forbes, Bezos now owns a 10.6 per cent stake in the e-commerce and cloud computing colossus Amazon. This is the third time this year that the world’s richest person has sold Amazon shares worth billions of dollars. In August, he had sold Amazon shares worth $3.1…

Hyderabad: Tally Solutions Pvt. Ltd, a pioneer in the business software production industry, is all set to launch TallyPrime- the next generation business management software’ on Nov 9. TallyPrime will equip MSME owners and new-age entrepreneurs with an ultra-simple and powerful software to enhance their business productivity. Focused on making the business owners’ lives simple since its inception, Tally aims to further simplify business management with TallyPrime, facilitating users to comfortably manage and grow their business without needing to know the finer nuances of accounting or technology, the company said in a release. The product meticulously designed keeping the user…

Mumbai: OPPO India announced a CSR initiative – “Wall of Knowledge” to enable access to the virtual world of education for unprivileged children. The “Wall of Knowledge” is a standalone unit with multiple mobile devices secured to a table in front of a large LED screen, providing access to virtual education to children. The initiative will have an exponential effect on unprivileged kids and will help them augment their knowledge, making them digitally inclined. Mr. Tasleem Arif, Vice President and Head R&D of OPPO India, said, “In a year that has been full of challenges, many children are deprived of…

Mumbai: The national capital’s IGI Airport witnessed a significant surge in cargo movement during September, as it handled volume of around 77,000 MT. Accordingly, both ‘Cargo Tonnage’ and Cargo Aircraft movements showed a pick-up in September on the back of gradual opening up of economic activities. “Gradual opening up of economic activities in the country over the past few months after the lockdown period is showing positive signs of recovery,” GMR Group-led Delhi International Airport Limited (DIAL) said in a statement. “The ‘Air Cargo’ performance in the month of September 2020 came with a positive note for Delhi Airport, when…

New Delhi: The Enforcement Directorate (ED) has filed a chargesheet against former ICICI Bank managing director and chief executive officer Chanda Kochhar, her husband Deepak Kochhar and Videocon Group chief Venugopal Dhoot for alleged money laundering charges among others before a special court in Mumbai on Tuesday. The agency has filed a chargesheet along with five trunks of supporting documents before the court. The case has been adjourned to November 11. The court said, “It is informed that the chargesheet is pending for scrutiny of five trunks of original documents. The intimation (of it being filed) is taken on record.”…

Mumbai: The Flipkart Group on Thursday announced a strategic investment in Universal Sportsbiz Pvt Ltd (USPL), a youth-focused fashion brand house. This is a Series F funding for USPL from the Flipkart Group along with participation from existing investor Accel Partners. This investment will significantly step-up the online strategy of USPL as the Flipkart Group will work closely with the USPL team to deepen product offerings on its platforms. Financials involved in the investment were not disclosed. “Post pandemic recovery has been great for us and we are at approximately 80 per cent of pre-COVID sales,” Anjana Reddy, Founder &…

Mumbai: Riding on increased sales in the smaller towns and cities during the festive season, Samsung on Thursday said it achieved an overall 32 per cent growth in its consumer electronics business in the month of October and a huge 50 per cent growth in the premium electronics categories in India. In the months of August and September, the company had achieved an overall 20 per cent growth in the consumer electronics segment in the country. “This has been the best October ever for us, as consumers across the spectrum looked to upgrade their lives especially in the tier 2…

Mumbai: Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced on Thursday that the Public Investment Fund (PIF) will invest Rs 9,555 crore (approximately $1.3 billion) for an equity stake of 2.04 per cent into RRVL, a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of Rs 4.587 lakh crore (approximately $62.4 billion). It will further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment. The investment in RRVL follows PIF’s earlier acquisition of a 2.32 per cent stake in Jio Platforms, the digital services subsidiary of Reliance Industries. The transaction…

New Delhi: Addressing a virtual event here, Subramanian said it is not just ease of doing business, but also ease of living that has to be enhanced using data. “We need to think of data as a public good… data should be thought of as infrastructure that must be invested upon, much like highways, airports etc,” he said. “Large scale data has to be extracted without violating any privacy laws. Data must provide a 360 degree view of an individual,” he added. Subramanian further said data can be used in areas like agriculture, manufacturing, behavioural economics and MSME sector for…

A strong rally has also been witnessed in the domestic stock market amid strong global cues. The Nifty has crossed the 12100 level in business. The Sensex has also crossed the 41300 mark. There is an all-round rally in today’s market. The election rally continues in the US, which is seeing a boom in markets across the world. The Sensex is currently 724 points strong and closed at 41,340 level. At the same time, the Nifty has also closed 212 points strong at 12120 level. In today’s business, metal, bank and financial stocks have been excellent. IT stocks were also…