Author: Finance Khabar

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…

Panaji: Uber on Thursday launched its new package delivery service called ‘Uber Connect’ in Goa, which will allow Goa’s residents to send and receive parcels from each other and also order items from nearby shops, without having to step outside the comfort and safety of their homes. The service will be operational in Panjim, Vasco da Gama and Margaon. According to a statement from the company, Uber Connect is a prime example of how Uber is adapting its platform to meet the changing needs of citizens, who still need to practise social distancing as cities start to open up after…

New Delhi: India generated 3.2 million metric tonnes of e-waste last year alone, making it the third largest contributor to e-waste in the world. The problem of e-waste and the regulatory steps to deal with it were discussed at a webinar on Wednesday which was organized jointly by Karo Sambhav, the first and only Asian Producer Responsibility Organization member to join the WEEE Forum, and the U.S.-India Business Council (USIBC). The Global E-Waste Monitor identifies e-waste as the fastest growing waste stream in the world. With the implementation of the E-Waste Management Rules in 2016, India has taken regulatory steps…

New Delhi: Due to the demand of grains, rice, iron ore, pharma products and medical equipment in the international market in September this year, the Indian export has registered a rise of 5.99 per cent. As per the data released here by the Union Ministry of Commerce and Industry, exports worth 27 billion 58 crore dollars took place in September 2020. During the same month in the previous year the exports were worth 26 billion 20 lakh Dollars. In the current financial year, the total export has been of total 125 billion 25 crore Dollars. As per the numbers, in…

For investors looking for risk-free investment avenues, Fixed Deposits (FDs) and Gold are among the best options available in the market today. Before deciding on which one to choose, investors need to align their financial goals and the expected performance for each of these investment options. Traditionally in India, gold is seen as an auspicious asset with good gains and acts as a haven during a financial crisis. For many, this yellow metal is seen as a sign of prosperity and is popular not only for financial reasons but for cultural reasons as well. On the other hand, Fixed Deposit…

New Delhi: “The magnanimous 2,00,000 export milestone achieved by the Creta is a testimony of Hyundai’s undeterred focus and commitment to ‘Make in India, Made for the world’,” said S.S. Kim, MD and CEO, Hyundai Motor India. “Hyundai’s state-of-the-art plant in Tamil Nadu manufactures global quality products in both domestic and international markets further providing our customers with quality time to lead a happy life.” The compact SUV was launched in 2015. In CY 2019, Hyundai Motor India exported 1,81,200 units with 792 customised variants according to country specific preference and demand. The company had an export share of 26…

Ubaidullah Nasir Union Finance Minister Nirmala Sitaraman had announced a package of stimulus for festive season in an attempt to stir the economy from present crisis. She has offered incentives to consumers to spend more that will create more demand that will naturally result in more production and subsequently more jobs. Economists from the day one have been suggesting the government to give more cash in the hands of public so that their purchasing power is increased and the wheel of economy will move. Congress leader Rahul Gandhi after discussing the issue from reputed economists had also been suggesting the…

• Many new exterior and interior highlights over the regular Seltos, including an increase in length by 60mm• Special edition Kia Seltos based on HTX trim will only be available for limited stock of 6,000 units• Available in one monotone and three dual-tone colour schemes including a new colour Gravity Grey with Aurora Black Pearl New Delhi: Kia Motors India, a wholly owned subsidiary of Kia Motors Corporation, today launched the Kia Seltos Anniversary Edition to celebrate its one-year milestone in the country. The limited edition Kia Seltos will be available exclusively in the HTX trim starting at an exciting…

Mumbai: The equity market got a brake on Thursday, as the BSE Sensex tanked by 1066.33 pts to settle at 39,728.41 snapping a winning streak of last ten straight sessions, on heavy selling witness across the board amid weak global cues. The nifty of national stock exchange too dropped by 290.70 pts at 11,680.35. The Sensex advanced by 254 pts to open at 41,048 which remained the days high. Later, it was plummeted nearly 1127 pts to 39,667.47, days low, before closing at 39,728.41, down by 1066.33 pts from its previous close. The sensex registered days high and low at…

Hyderabad: SLG Hospitals, in collaboration with FICCI, Hyderabad Chapter organised a webinar titled: ‘Mind v/s Machine: AI in Healthcare – Increasing Use of Technology in Medicine – Boon or Bane?’ The eminent panel comprised of senior Doctors and senior level Managers representing healthcare equipment and technology companies. It included DVS Somaraju – Executive Director, SLG Hospitals, Dr. V Jagan Mohan Reddy – Orthopaedic Surgeon, Dr.PradeepPanigrahi–GI & Laparoscopic Surgeon and Medical Director at SLG Hospitals, Karan Verma – Head, Healthcare Digital Solutions, Wipro GE Healthcareand MerveAygit – OIS Business Line Director, TIMEA, Elekta. Artificial Intelligence is significantly impacting our society and…

New Delhi: Chief Economist Adviser (CEA) Krishnamurthy Subramanian said on Wednesday that the Insolvency and Bankruptcy Code (IBC) is an evolving process and there is scope for the framework to become more efficient. Speaking at a webinar on ‘Investment Opportunities in Stressed Assets in India’, organised by FICCI, Subramanian noted that the ecosystem of creative destruction is a very important part of any economy. He said the exit process for businesses was not enabled well in India before the IBC. He added that there are some market failures in India in the “creative destruction” process. “The IBC is an evolving…