Author: Finance Khabar

New Delhi:  Evolve Digitas, a leading Digital & Design Company announced the acquisitionof Thinking Folks, a creative hot-shop in Gurugram. The all share swap deal will see Evolve Digitas strengthen its creative and design team looking to consult Ratan Kumar to join as COO, India Country Manager service global clients. In order to realise Hon’ble Prime Minister Shri Narendra Modi’s Vision of Aatmanirbhar Bharat, the company is planning a global Center of Excellence in India to service global e-commerce clients with an in-house product. Speaking on the occasion, Aparna Gupta, Managing Director, Evolve Digitas said, “Evolve Digitas has been rapidly…

New Delhi: The lender had posted a net loss of Rs 112 crore net profit during Q2. Besides, the bank’s net interest income (NII) zoomed up 20 per cent to Rs 7,326 crore during the quarter under review from Rs 6,102 crore earned during the corresponding quarter of the previous year. The net interest margin for Q2FY21 stood at 3.58 per cent as against 3.51 per cent for Q2FY20. MD and CEO Amitabh Chaudhry said: “The last quarter was an extremely fulfilling one. Keeping the customer journey at the centre of all our innovations and solutions, we came up with…

New Delhi: It took Samsung two years to end Xiaomi’s winning streak in the India smartphone market, as the South Korean major recaptured the top slot in the third quarter (July-September period) with 24 per cent share, as the Chinese major logged 23 per cent market share, a Counterpoint Research report said on Wednesday. Riding on multiple strategies — including effective supply chain and touching various price points through new launches — Samsung became the leading brand in the India smartphone market with 32 per cent (year-on-year) growth. Samsung was also the fastest to recover, surpassing the pre-COVID levels in…

Kolkata: As a part of the Vigilance Awareness Week (VAW), the nation’s leading public sector bank, Punjab National Bank (PNB), today launched the PNB Tracking & Monitoring Staff Accountability Cases (TMSAC) portal and PNB’s 2020 Vigilance Manual. The ceremony was graced by the presence of Suresh N Patel-Vigilance Commissioner, Central Vigilance Commission and P. Daniel -Secretary-in-charge of Central Vigilance Commission along with CH S.S. Malikarjuna Rao – Managing Director and Chief ExecutiveOfficer of PNB. Addressing the occasion, Suresh N Patel, Vigilance Commissioner, said, “We must remember that newcomers learn from the existing ecosystem, and if we have good practices across…

New Delhi: Out of total amount, $600 million will be financed by the JBIC and $400 million by other participating banks. JBIC will provide a guarantee for the portion co-financed by the participating banks. The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India. JBIC is a policy-based financial institution, wholly owned by the Japanese government, with the objective of contributing to the sound development of Japan, the international economy and society. On the occasion of signing the agreement, SBI’s Deputy Managing Director, International Banking Group, C.…

New Delhi: On Wednesday, the commission’s Chairman N.K. Singh and members held a virtual meeting with the Chairmen of previous Finance Commissions, C. Rangarajan, and Vijay Kelkar. The chairmen of the previous Finance Commissions appreciated the tough challenge faced by the 15th Finance Commission, given the background of the Covid-19 pandemic, the resultant loss of economic activity and its impact on fiscal parameters of the general government. The Chairman and Members of the 15th Finance Commission expressed their gratitude for the insights that they received from the thinking and framework of the previous Finance Commissions and from their deliberations with…

Chennai: The official, who did not want to be identified, told IANS that the proposed unit will be making electronics components for consumer durables. The unit will be set up in Krishnagiri district near Hosur and the ‘bhoomi puja’ was done on Tuesday. The unit will be located on about 500 acres. According to the official, the Tatas plant will be set up in GMR Krishnagiri SIR (Special Investment Region), a joint venture between with Tamil Nadu Industrial Development Corporation (TIDCO) and the GMR Group. According to the Coimbatore-based GKD Institute for Technological Resources (GKDITR), the Tata Group is coming…

New Delhi: The global professional networking platform LinkedIn, which has more than 722 million users, ensures that three people are hired every minute and new features make it easier for nearly 40 million job seekers to indicate theyre looking for their next opportunity, according to Microsoft CEO Satya Nadella. More professionals are turning to LinkedIn Learning to increase their knowledge capital, watching more than 1 million hours of content each week — more than double the amount a year ago. “In marketing solutions, advertiser demand on LinkedIn returned to near pre-Covid levels, up 40 per cent year-over-year, as marketers use…

Mumbai: In a recent order the capital markets regulator said that it has found violation of securities law in the scrip of Birla Pacific Medspa Ltd (BPML) during July 7-15, 2011 and consequently, Yash Birla along with nine other individuals have been barred from accessing or transacting in the securities market for a period of two years. It is alleged that BPML had transferred Rs 7 crore each to entities named Sanjukta Vanijya Pvt Ltd and Darshan Tradelink Pvt Ltd on July 07, 2011 as pass-through entities from IPO proceeds, which were then advanced to net buyers on listing day…

Hyderabad: “On 22nd October 2020, we experienced an information security incident and consequently isolated the impacted IT services. This incident involved a ransom-ware attack. We promptly engaged leading outside cybersecurity experts, launched a comprehensive containment and remediation effort and investigation to address the incident,” said the Hyderabad-headquartered firm. “As of date, our investigation has not ascertained if any data breaches in the incident pertain to personally identifiable information stored in the company’s systems. Recovery and restoration of all applications and data is underway. All critical operations are being enabled in a controlled manner,” it added. Dr Reddy’s had said immediately…

Mumbai: The BSE Sensex on Wednesday dropped by 599.64 pts to settle at 39,922.46 on selling in Finance, Bankex, Realty and Metal stocks amid negative global peers. The Nifty of national stock exchange too fell by 159.80 pts at 11,729.60. Surging by 376 pts on Tuesday, the day opened on a positive note at 40,664.35 up by 142 pts and remained days high. Later, the Sensex nosedived nearly 784 pts to 39,774.60 days low before closing at 39,922.46, sliding by 599.64 pts from its previous close. The sensex registered days high and low at 40,664.35 and 39,774.60 pts respectively. The…

New Delhi: SBI Life Insurance Co Ltd (SBI Life) on Monday reported over two-fold jump in net profit at Rs 299.73 crore for the second quarter ended September of the current fiscal year. SBI Life had posted a net profit of Rs 129.84 crore in the same quarter a year ago. Total income rose 45 per cent to Rs 18,458.25 crore during July-September period of 2020-21 from Rs 12,745.38 crore in the corresponding quarter of 2019-20, SBI Life said in a regulatory filing. Net premium income increased 22 per cent to Rs 12,857.95 crore during the quarter under review from…

New Delhi: Kotak Mahindra Bank’s second quarter jumped as the asset quality improved. The bank on Monday posted a 26.7 per cent rise in its standalone net profit to Rs 2,184.48 crore for the September quarter. The private sector lender had posted a net profit of Rs 1,724.48 crore during the same quarter a year ago. The bank, in a regulatory filing, said that the total income (standalone) rose to Rs 8,288.08 crore in the July-September period as against Rs 7,986.01 crore in the year-ago period. The non-performing assets (NPAs) of the bank plunged to 0.64 per cent of the…

London: Cloud major Oracle on Monday announced a new dual-region UK government Cloud, operating from data centres in London and Wales to help organizations such as National Health Service (NHS) store and process official information and transactions securely. The dual-region Cloud includes services such Autonomous Database, Kubernetes, OCI services and Fusion Cloud apps as well as storage, reports Computing.co.UK. “Today’s announcement really unlocks a completely new potential for all of our customers across the UK to take advantage of Oracle’s second-generation cloud,” said Richard Petley, senior vice president, Oracle UK and Israel. “This is a completely unique offering to the…

New Delhi: In a sign that economic revival is getting more pronounced in the unlock phases, country’s goods and service tax (GST) collections set to cross the Rs 1 lakh crore mark for the first time during this financial in October. Sources in the government indicated that collections during October looked healthy as the number of monthly returns (GSTR3B) filed during the month till now has already crossed 75 lakh mark. This is around 15 lakh more than the number of returns filed in September. With few more days left for the month to get over, the expectation is that…

Airtel IQ will help businesses drive deeper customer engagement through seamless and secure communication delivered over cloud Swiggy, Urban Company, Justdial, Rapido, Havells among early customers Meerut: Bharti Airtel (“Airtel”), India’s largest integrated telecommunications company, marked its entry into the fast-growing cloud communications market with the launch of Airtel IQ today.   Airtel IQ, a cloud-based omni-channel communications platform, enables brands to deepen engagement with customers through timely and secure communication.  Take for example a customer ordering food through an online platform and calling the delivery agent to find out the status of her order. The entire communication is orchestrated seamlessly and securely…

New Delhi: Muthoot Finance Ltd. on Monday announced its 23rd series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each. The Issue is with a base issue size of Rs 100 crores with an option to retain oversubscription upto Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crores. The Issue opens on October 27 and closes on November 20 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee, the company said in a statement. The Secured…

New Delhi: Maruti Suzuki’s premium hatchback Baleno has sold a cumulative 8 lakh vehicles since its launch in 2015. In its present form, the premium hatchback is equipped with ‘Smart Hybrid technology and a BS6 compliant 1.2L Dual Jet Dual VVT engine’. “Baleno helped us bring new customers to the Maruti Suzuki family,” said Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India. “This significant milestone of 8 lakh delighted customers within a short span of 5 years is a testament of our customer-centric philosophy which is at the core of Baleno’s conceptualisation.” The vehicle is exclusively manufactured in…

New Delhi: The Indian hotel industry’s recovery to pre-Covid levels profits is at least three years away, ratings agency ICRA has said. The ratings agency said that road ahead for the industry is rough as revenues and margins are expected to post record decline in FY21 with losses mounting over the next two years. The hotel industry has witnessed one of the worst revenue declines, in Q1FY21, with revenues for the industry sample declining by 85 per cent. “Given the high operating and financial leverage in the industry, the revenue decline led to huge operating and net losses in Q1…

The Google Pay app has been removed from Apple’s App Store. This step has been taken to fix any problem coming in the app. Google Pay is one of the most popular digital payment apps. Although this app has been removed from the Apple Store, but it is listed on the Google Play Store. This is not the first time that users are facing this problem. A few weeks ago the same app was removed from the Play Store and many users complained about it on Twitter. There were some technical flaws in this, which Google later corrected. This time…