Author: Finance Khabar

New Delhi: Retail Inflation rose once again in September and reached 7.34 percent level. There was some relief in retail inflation in August 2020, due to lower food inflation, and it was down from 6.73 percent in July to 6.69 percent. On the other hand, in the month of August, there has been a setback on the industrial production front. According to government figures, industrial production fell 8 percent last month.

Domestic stock market started with a strong momentum amid strong global cues. However, later the market declined from the upper levels. In early trade, the Nifty had crossed 12000 today. At present, the market was closed. Other than bank shares, financial stocks were subsequently sold, which increased the pressure. However, IT and pharma stocks took over the market. In today’s trade, the Sensex gained nearly 84 points to close at 40,593.80. At the same time, the Nifty gained 17 points and closed at the level of 11931. After the delisting of Vedanta, the stock fell by 23 per cent. ITC…

Hosur: Two and three-wheeler makers TVS Motor Company today achieved the four million global sales milestone for its premium brand, TVS Apache. A company release said, launched in 2005, the TVS Apache series was the fastest growing premium motorcycle brands in the country, with a strong presence across global markets. Mr K N Radhakrishnan, Director and Chief Executive Officer said “It is a momentous day for us at TVS Motor Company, as we achieve the 4 million global sales milestone for our premium motorcycle brand, TVS Apache.’ To commemorate the celebrations, the Company, in collaboration with its TVS Apache customers,…

Kolkata: With consumer preference for digital payments growing steadily over the last several years, Axis Bank, in collaboration with Google Pay and Visa, today launched the ACE Credit Card. The card is designed for the growing base of users keen to participate in the digital economy. Payments for essential use cases like mobile recharges, bill payments made via Google Pay earn users 5% in cashback. Users also get 4%-5% cashback for spends made on daily use categories such as food ordering, online grocery delivery, cab rides for transactions made on partner merchants’ platforms such as Swiggy, Zomato, BigBasket, Grofers and…

New Delhi: Emphasising on giving impetus to the economy badly affected due to Corona pandemic and to increase consumer demand in the festive season, the Centre on Monday announced Leave Travel Concession (LTC) Cash Voucher Scheme, Special festival Advance Scheme for Central employees and additional Rs 37,000 crore capital expenditure and said that these measures will help in increasing the demand of about Rs one lakh crore. Addressing a press conference here, Union Finance Minister Nirmala Sitharaman along with her deputy Anurag Thakur, announced stimulus to boost demand in the Economy and highlighted that the total demand boost due to…

New Delhi: Now millions of people traveling by Uber cab (Uber) will be able to pay for rides through Amazon Pay. For this, there is a partnership between Amazon Pay and Uber. Now Amazon Pay will also show in the payment options on the Uber app, which will enable users to make contactless and secure one click digital payments. There will be an attractive cashback offer for Uber users on payment through Amazon Pay. The same Amazon Prime members will get additional Uber benefits. In order to pay from Amazon Pay in Uber Trip, the user must first link his…

New Delhi: The Monetary Policy Report for October 2020 noted that the decline in both the lending and deposit rates is more pronounced for foreign banks. “The transmission of policy repo rate changes to deposit and lending rates of banks improved since the April 2020 MPR (Monetary Policy Report). The weighted average lending rate (WALR) on fresh rupee loans declined by 91 bps since March 2020 in response to the reduction of 115 bps in the policy repo rate and comfortable liquidity conditions,” it said. “The pass-through to WALR on fresh rupee loans was higher than the softening of yield…

India could become the third-largest economy after China and the US by 2050, said a study published in Lancet. The paper, which tool 2017 as the base (when India was the seventh-largest economy), said that India could move to the fourth position by 2030 and the third position by 2050. Currently, India is the fifth-largest economy in the world, with the first four being the US, China, Japan and Germany. The Lancet study’s results were derived by translating the working-age population of countries into scenarios for GDP. “By 2100, India was forecasted to still have the largest working-age population in…

We are ushering in an era where interest rates are going to stay lower for longer. Today, getting 7% interest in fixed deposits is considered good, given that almost all of the big banks in the country are offering just 5.5 per cent. Here are a few banks that still offer 7 per cent interest on bank deposits: IndusInd Bank Fixed deposits offer an interest rate of 7% on 1 year to 3 year deposits. For tenures above this, the interest rate dips slightly. This is probably the best that it gets when it comes from slightly larger banks in…

New Delhi: The ‘Inflation Expectations Survey of Households’, however, noted that the respondents’ perception of current inflation and expectation for inflation over the next three months were, however, a shade lower than that in the previous round of the survey. “Households’ median inflation expectations remained elevated for both three months and one year ahead periods,” it said. More households expect general inflation to increase over the three months and one year ahead periods, but the share of respondents expecting higher food inflation over the next quarter declined in comparison with that in July 2020, the survey showed. Around 81.6 per…

New Delhi: The Delhi government has exempted battery-powered vehicles from road tax under its new electric vehicle policy. This information has been given by Transport Minister of Delhi Kailash Gehlot. With the move of Delhi government, it will be cheaper to drive electric car, two wheeler, three wheeler in the capital. The Transport Department of Delhi issued a notification in this regard on Saturday. It states that the NCT-Lt Governor of Delhi has removed the road tax on all electric-powered electric vehicles with immediate effect. Gehlot said in a tweet, ‘Congratulations to the people of Delhi! As promised by Delhi…

New Delhi: The global PC market climbed 12.7 per cent from a year ago to reach 79.2 million units in the third quarter of this year, registering the highest growth the market has seen in the past 10 years, according to the latest report from Canalys. After a weak Q1, the recovery in Q2 continued into Q3 this year in which Lenovo regained the top spot, showed data released by the analyst company. Global notebook shipments touched 64 million units — almost as much as the record high of Q4 2011 when notebook shipments were 64.6 million — as demand…

New Delhi: The Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising of state finance ministers, will for the third time in a row discuss the issue of funding the shortfall of Goods and Services Tax (GST) revenue of states. While some opposition ruled states are demanding that a Group of Ministers be set up to arrive at a decision on the mechanism for funding compensation shortfall, BJP ruled states, which have already opted for the borrowing option given by the Centre, are of the view that they should be given a go ahead so that they can get…

New Delhi: Between 2015-16 and 2019-20, digital payments have grown at a compounded annual growth rate of 55.1 per cent – from 593.61 crore in the year to March 2016 to 3,434.56 crore in the year to March 2020. In absolute terms, value has grown from Rs 920.38 lakh crore to Rs 1,623.05 lakh crore during this period, clipping at an annual compounded rate of 15.2 per cent. Giving a year-wise data, in 2016-17 digital payments jumped to 969.12 crore from 593.61 crore in the previous year in volume terms, while in value the same rose to Rs 1,120.99 lakh…

New Delhi: Though it began on-boarding new manufacturers directly as sellers from January, majority of the sign-ups have taken place in the September quarter, the official said, thanks to the lockdowns and the resultant shift in consumer behaviour. It can be noted that every online seller/service provider has benefited from the lockdowns. Adding new sellers will help the e-tailer to ramp up its Diwali sales plans as direct shipment to buyers help manufacturers move stocks faster to customers. The leading value-focused marketplace has over 5 lakh registered sellers and over 70 million visitors every month who can buy from over…

New Delhi:The data released by the Reserve Bank on India’s Monetary Policy Report for October 2020 showed a 28 per cent increase in the fund raising through public and rights of issue of equities to Rs 76,830 crore during the first half of the financial year 2020-21. During the same period last year, last fiscal, funds worth Rs 60,133 crore were raised through issue of equity shares. “Resource mobilisation through public and rights issues of equity increased to Rs 76,830 crore during H1 2020-21 from Rs 60,133 crore in the corresponding period of the previous year,” said the Monetary Policy…

New Delhi: Accordingly, the pandemic-battered airline is in fact going ahead with the planned induction of 5 fully-owned aircraft which will bring down the average fleet age to around three years. In terms of passenger growth, the company conceded that despite directional imbalance in traffic, the trend is getting more evened out with the emergence of metro-to-metro demand. Not responding to speculation but affirming passengers’ belief in the brand, Sunil Bhaskaran, CEO and MD, AirAsia India, told IANS: “So far as the air traffic is concerned, it has been highly directional between metro and non-metro cities, though we are now…

New Delhi: Vedanta’s delisting offer is deemed to have failed in terms of the delisting regulations, the company announced. Vedanta said that 125.47 crore shares were validly tendered by public shareholders. The reverse book building process for public shareholders had concluded on Friday. For successful delisting of the shares, 134.12 crore shares needed to have been validly tendered for the promoter shareholding to cross the 90% shareholding. Accordingly, the acquirers will not acquire any equity shares tendered by the public shareholders in the delisting offer and the equity shares will continue to remain listed on the stock exchanges, the Vedanta…

New Delhi: Stating that the December quarter growth could outperform the expansion logged in the corresponding quarter a year ago, Mistry said that the Indian economy has shown its resiliency. Benign interest rate regime will continue going forward and that rates will go up only after economic activity gathers more pace and inflation pressure rises, Mistry, vice chairman and CEO, HDFC Ltd, said at an online dialogue organised by the All India Management Association (AIMA). He, however, said that interest rates have bottomed out. The government should identify the job creating sectors and address their issues on priority, AIMA said…

Microsoft Corporation has joined the tech companies, which will allow some of their employees to work permanently from work if they wish. The software company has set up a hybrid workplace for employees, which will give them more flexibility when offices reopen in the US. The company has given this information in the company’s blog post on Friday. Microsoft said that it is allowing any of its employees to do work from home for more than 50 percent of their time at their will and this is for all the roles that have become standard. Those who want to work…