Author: Finance Khabar

Disbursed over Rs 23,000 crore Apr-Sep under agriculture segmentNet growth on Agriculture Outstanding is 6% plus YTD Bareilly: In an attempt to encourage farmers to get connected with the services offered by the Government and Banks, Bank of Baroda recently conducted the 3rd edition of ‘Baroda Kisan Pakhwada’, a pan-India initiative for the farming community from 1st October to 16th October, 2020. The objective of ‘Baroda Kisan Pakhwada’/Farmers’ Fortnight was to connect as many farmers as possible with the bank, and to make them more aware of the new schemes and to increase their knowledge on latest technologies introduced in…

New Delhi: Air India soon going to operate flights between India-Germany from October 26, the national carrier said on Friday. The airline, in a tweet, said: “#FlyAI: Air India will operate flights between India-Germany from 26th Oct’ 20 to 28th March ’21.” “Bookings open through AI website, Booking offices, call centre and Authorised Travel Agents,” it added. The announcement indicated that a breakthrough in ‘Air Bubble’ negotiations has been achieved between India and Germany. Air bubbles are a pact, signed by two countries under which the participants allow both the countries to fly. Recently, issues had occurred regarding the number…

The Reserve Bank of India (RBI) on Friday announced the purchase of state development loans worth Rs 10,000 crore under open market operations. The auction will be conducted on October 22. The RBI, in a statement, said that it has been decided to conduct a purchase auction of SDLs under OMOs for an aggregate amount of Rs 10,000 crore on October 22, keeping in view that this is the first ever OMO purchase of SDLs. “Depending on market response, the size of the auctions may be enhanced in the subsequent auctions. “Accordingly, RBI will purchase the SDLs… through a multi-security…

New Delhi: The Ministry of Micro, Small and Medium Enterprises (MSME) issued a clarification in this regard alerting the public after taking strong note “of mischievous activities of this organisation projecting itself as part of the MSME ministry”. The ministry said it is noticed that certain messages are being circulated in media and social media regarding issuance of appointment letter to the post of ‘director’ by the MSME Export Promotion Council. It is also seen that this organisation is using the name of the Ministry of MSME. “It is hereby clarified that Ministry of MSME, Government of India, is not…

New Delhi: Tata Motors on Saturday said it has collaborated with HDFC Bank for financing of its passenger vehicles. Through the partnership, the company said it has introduced two new schemes — ‘Gradual Step Up Scheme’ and ‘TML Flexi Drive Scheme’ with an eye on making its products more accessible and driving up sales in the festive season. The schemes will be available till the end of November 2020 and can be redeemed on the entire new BS-VI range of cars and SUVs along with the company’s EV range, Tata Motors said in a statement. Under the Gradual Step Up…

New Delhi: Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 8,302 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market. “The six schemes have received total cash flows of Rs 8,302 crore as of October 15, 2020 from maturities, pre-payments and coupon payments since April 24, 2020,” Franklin Templeton MF said in a statement. Part of this amount has been utilised to repay borrowings and post repayment, Rs 5,116…

New Delhi: The glitch was however resolved later. Issues were reportedly faced in net banking, debit card and UPI transactions among others. According to the data from downdetector.in most of these issues were reported around 2 p.m. The data showed that around 69 per cent problems were reported in Internet banking, followed by 20 per cent in mobile banking and 9 per cent in card based transactions.

We are in the amidst one of the biggest crisis of the century! The COVID-19 pandemic continues to spread across the globe at a dizzying pace, with almost 38 million people infected and over 1 million deaths globally. Apart from everything else, the coronavirus pandemic continues to wreak havoc on the global economy too, with millions of people around the world out of jobs. This high market volatility is likely to continue until the pandemic reaches manageable levels. However, the good part is that the stock market remains open for business, and it has seen historically dramatic swings in the…

With the start of the festive season, many banks like State Bank of India, ICICI Bank, HDFC Bank and Bank of Baroda have brought festive offers on their home loans, personal loans and car loans. Before halting in recent months, the Reserve Bank of India had cut the repo rate for most of 2019 and early 2020. Therefore, the rates of taking loans are at attractive levels. If you too are thinking to get done, then this time is good because of the offers. Let us know about some of the top offers given by banks in the festive season.…

As a Preferred Financier to Mahindra & Mahindra, Bank of Baroda through its 5000+ Rural & Semi-urban branch network, will provide Tractor Loan facility to its customers.M&M, through its dealers will carry out promotional activities and provide offers and/ or discounts as may be decided by M&M from time to time for customers financed by Bank of BarodaVarious sales and promotion activities will be undertaken at M&M’s dealer points, at Bank branches or outside locations under the tie-up Bareilly: Bank of Baroda has taken another initiative towards improving credit penetration in farm mechanization by entering entered into an MoU with…

New Delhi: “Customers who cannot devote adequate time and energy to make informed choices find it difficult to select the right product. Also, products may not be available for the intended sum assured. So we felt the need to introduce a standard, individual term life insurance product, with simple features and standard conditions,” Irdai said. “A standard product will make it easier for the customers to make an informed choice, enhance the trust between the insurers and the insured, and reduce mis-selling as well as potential disputes at the time of a claim settlement,” the regulator added. The Saral Jeevan…

RIYADH: GAC MOTOR, together with partner Aljomaih Automotive Company, held a special global online release on October 15th for the launch of the luxury flagship all-new GA8 in the Saudi market. Benefiting from the good reputation of GAC MOTOR, the high-end flagship model GA8 has attracted much attention as it is launched and is expected to be the best choice of luxury cars for the new Saudi elites. This global live press conference on YouTube was co-hosted by Ahmad Albader, a well-known Saudi presenter, and Rana Jobran, a TV and radio host. Combining product videos, real-time online audience interaction and…

Pension fund regulator PFRDA is going to bring a pension scheme with guaranteed returns to subscribers in FY 2022. It will be brought under the National Pension System (NPS). The regulator may finalize the product by March. PFRDA chairman Supratim Bandopadhyay has given this information. He said that there was a discussion last year about the product with minimum guaranteed returns. NPS is a market related product and it has given about 10 per cent return in the last 10 years. Currently, schemes under NPS do not guarantee returns or profits, as they are market-determined. The average annual return for…

The stock market has seen a recovery in Friday’s business. Domestic stock markets closed strong due to the spectacular rise in bank and metal stocks. Despite the weak global signal, there was a good purchase in the market. However, there has been a slight pressure on IT shares. At the end of trading, the Sensex gained about 255 points to close at 39,982.98. At the same time, the Nifty also strengthened 82 points and closed at 11762 level. There was a big fall in the market on Thursday. In today’s business, Tata Steel and HDFC Bank are in the list…

The year 2020 has put a dampener on everyone’s spirit with most people having been confined to their homes for the major part of the year. However, to beat the pandemic blues and spread positivity, footwear major Bata India Limited has launched its first big campaign of the year – #KickOut2020.  The campaign launch is also accompanied by the launch of new collection – ‘Ready Again’, which comprises of a wide variety of footwear to go with every outfit and occasion. Casuals, Festive, Fitness, Dress, Fashion, you name it, the ‘Ready Again’ collection has all the comfortable & stylish designs. The new campaign urges…

Mumbai: Phillips Carbon Black has reported a drop of 25.05 pc in its net profit for the quarter ended September 30, 2020 at Rs.58.09 crores as against net profit of Rs.77.51 crores for the quarter ended September 30, 2019. Total income for the quarter under review fell by 23.40 pc to Rs 665.37 crores as compared to Rs.868.61 crores for the quarter ended September 30, 2019

Mumbai: Private sector lender Federal Bank has posted a decline of 25.84 per cent in its net profit for the quarter ended September 30, 2020 at Rs 315.45 crores as against net profit of Rs 425.34 crore for the quarter ended September 30, 2019 as the bank stepped up provisions to deal with likely rise in slippages due to the economic impact caused by the Covid 19 pandemic. However, total income for the quarter under review rose by 10.21 per cent to Rs 4131.32 crore as compared to Rs 3748.44 crores for the quarter ended September 30, 2019. Total provisions…

New Delhi: September saw a 26 per cent jump in passenger vehicle sales due to the lockdown opening amid the covid-19 epidemic and increasing demand for private transport. Two-wheeler sales also grew nearly 12 percent. Kenichi Ayukawa, president of vehicle manufacturing companies’ SIAM and CEO of Maruti Suzuki India, released the sales figures along with Rajesh Menon, director general of the organization. Sales of passenger vehicles rose 26.45 percent to 2,72,027 units in September. 2,15,124 passenger vehicles were sold in September last year. Passenger vehicles include cars, utility vehicles and vans. Car sales rose 28.92 percent to 1,63,981, utility vehicle…

Right before the pandemic struck, India was witnessing a growing consumer spending. In fact, in the past few years India saw the double-digit growth in credit cards which became one of the fastest growing retail credit segments. All this has been on the back of rising discretionary spends of millennials and growing middle class. While it is good to spend on your lifestyle aspirations, it also becomes critical to save a slice of your earnings for the rainy days. One often see people, especially the millennials, sharing concerns about their inability to save, no matter how much they try to…

Bangalore: The century-old group has been planning to launch a “super app”, one that will tie in all its consumer businesses, several media reports have said, as it competes against Amazon and Reliance Industries, who have made big bets on India’s booming e-commerce market. Bengaluru-based BigBasket is looking to raise $200 million for a fresh funding round, which could potentially value the startup at nearly $2 billion, according to the report. It competes with Walmart Inc-owned Flipkart and Amazon’s “Fresh” service as more consumers choose to shop online due to the COVID-19 pandemic. “The transaction in all likelihood is a…