Author: Finance Khabar
New Delhi: In a statement, a Railway Ministry spokesperson said that the representatives of Society of Indian Automobile Manufacturers (SIAM), Tata Motors, Hyundai Motors, Ford Motors, Mahindra & Mahindra, Honda India, and Maruti Suzuki Ltd, the Automobile Freight Train Operators (AFTOs), Automotive Tyre Manufacturers’ Association (ATMA), were all part of the meeting. The spokesperson said that the industry players lauded the initiative and committed to work in partnership with Railways to facilitate transportation of automobiles through the national transporter. According to the railway ministry, Railways is attaining new heights in transportation of automobiles. It said that the total loading of…
New Delhi:Centre told the Supreme Court that “it’s not possible to give more relief to different sectors” amid the novel coronavirus pandemic, stressing that the “courts should not interfere in fiscal policy”. The centre’s response came days after the court has said that the government’s last week affidavit on waiving “interest on interest” on loans of up to Rs 2 crore was “not satisfactory”. The amount was frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic. “Policy is the domain of the government and court should not go into sector-specific financial…
Mumbai: E commerce marketplace Flipkart on Saturday brought back its paid internship programme Launchpad for undergraduate students from tier-II cities and beyond to work in its supply chain ahead of the festive season and the Big Billion Days sale. The company said that the 45-day internship is aimed at helping students gain critical skills in supply chain management and create an ecosystem of trained professionals for the e-commerce industry. Over 2,000 students participated in the internship programme last year. Flipkart said it is working with educational institutes across 21 locations including Binola (Haryana), Bhiwandi (Maharashtra), Uluberia and Dankuni (West Bengal)…
New Delhi: The CBI has accused HDIL promoters Rakesh Wadhawan, Sarang Wadhawan, auditors and other directors in the Rs 200 crore fraud case with Yes Bank. The CBI first registered a case in this case and carried out the raid on the Mumbai home of Rakesh Wadhavan and his son Sarang Wadhawan. Apart from his house, the raids were conducted by the CBI at 9 different places in Mumbai. It also includes two offices of HDIL. Explain that Yes Bank had given loan to Mack Star. HDIL has a minority stake in Mack Star, and a fraud of 200 crores…
New Delhi: The craze of Indians towards gold is not hidden from anyone, but its brightness has increased in the Corona era. Investors are turning to gold once again due to huge turmoil in the stock markets and reduced interest rates on FD and small savings schemes. This is the reason that its price is creating new records. If you want to buy cheap gold then you have a golden chance. The government is going to issue the seventh series under the Sovereign Gold Bond Scheme. The subscription for the seventh series of Sovereign Gold Bonds starts from October 12…
Bangalore: Motorola on Friday partnered with e-commerce marketplace Flipkart to launch its global-first range of smart home appliances for Indian consumers. Available from October 15, during Flipkart’s the Big Billion Days sale event, the product range comprises smart refrigerators starting at Rs 51,990, smart air-conditioners starting at Rs 32,999, and smart washing machines starting at Rs 23,499. The new suite of products will also include the first Android 10.0 smart TV in India — Motorola Revou Series and Motorola ZX2 Series, at a starting price of Rs 13,999 — making the collection a part of this year’s “The Big Billion…
San Francisco: Microsoft is giving option to its employees to work from home permanently, according to an internal hybrid workplace guidance, The Verge reported on Friday. Microsoft will allow employees to work from home freely for less than 50 per cent of their working week, or for managers to approve permanent remote work. “Employees will also be allowed to relocate domestically with approval, or even seek to move internationally if remote working is viable for their particular role,” the report said, citing the guideline. Microsoft is not alone in sending employees home. Facebook is shifting tens of thousand of jobs…
Enjoy exclusive deals on Huawei devices during the Flipkart Big Billion Days 2020. Sale starts from October 16th and concludes on October 21st 2020New and exciting offers will be available on Huawei Wearables and tabletsduring the Sale New Delhi: Get the most out of this festive season. Exciting deals and offers on Huawei’s Wearable Devices and Tablets, starting October 16th to 21st , 2020, on the ‘Flipkart Big Billion Days 2020’. Huawei India today announced a fantastic line-up of offers and discounts, on the Huawei Watch GT 2, Huawei Watch GT 2e, Huawei Band 4 and Huawei MediaPad M5 lite…
New Delhi: There is going to be a big change in the e-invoicing system of GST. From January 1 next year, this system will also be necessary for all those businesses whose turnover for B2B business transactions is above 100 crores. Finance Secretary Ajay Bhushan Pandey said that the e-invoicing system would ultimately benefit small businesses and Micro, Small and Medium Enterprises (MSMEs) running from the current GST return filing system. Under Goods and Services Tax (GST) Act, e-invoicing has been made mandatory for companies with more than 500 crore turnover for B2B transactions from 1 October. Revenue Secretary and…
After the announcement on the interest rates of the Reserve Bank Monetary Policy Committee, there has been a sharp rise in the stock market. RBI has not made any change in interest rates. It was decided to keep the repo rate at 4 percent. At the same time, liquidity was also announced in the system. After which, especially in bank shares, there has been a great boom. The rally in bank shares has given good support to the stock market. Nifty today crossed 11900. The Sensex gained 327 points and closed at 40,509.49. At the same time, the Nifty also…
New Delhi: The Reserve Bank’s 6-member committee today announced the repo rate. For the second time in a row, there has been no change in interest rates. The Monetary Policy Committee has maintained the repo rate at 4 percent. With this announcement, the EMI of your loan will not be reduced, but apart from this, many things have been announced, which will have a direct effect on you. While the RBI has increased the facility of receiving money for 24 hours, at the same time, a big announcement has also been made to provide adequate liquidity in the system. It…
New Delhi: The Reserve Bank’s Monetary Policy Committee has not changed the interest rates. The 6-member Monetary Policy Committee headed by Reserve Bank of India Governor Shaktikanta Das has decided not to change the interest rates. Repo rate remains at 4%. The MPC has unanimously decided this. The reverse repo rate remains at 3.35 per cent. Let us know that the meeting of the MPC started on October 7. Earlier this meeting was to be held from 29 September to 1 October. Earlier in August, the RBI MPC met, in which interest rates did not change. Earlier in May, interest…
Mumbai: Ride-hailing major Uber on Thursday announced a partnership with electric vehicle fleet operator Lithium Urban Technologies to deploy over 1,000 EVs in Delhi-NCR, Mumbai, Bengaluru, Hyderabad and Pune. Uber said it has already deployed more than 100 such electric vehicles (all sedan), such as Mahindra eVerito and Tata Tigor EV, on its platform. Over the next 12 months, the company said it remains committed to scaling up to 2,000 electric vehicles on its platform, including the Lithium EVs. “After our partnerships with Yulu, Mahindra and SUN Mobility, this is our fourth partnership in this space and Uber will always…
The outlook for the global steel industry has been revised to stable from negative, Moody’s Investors Service has said in a new report. Demand is picking up as pandemic-related lockdowns are eased and supporting industries resume production, though a virus resurgence is still a key risk for steelmakers. “Demand for steel is improving on a resumption of production in important end markets and on stronger global economic data, particularly in China,” said Carol Cowan, a Moody’s Senior Vice President. “We expect operating conditions for steelmakers to continue to improve over the next 12 to 18 months, barring a resurgence of…
In a major turn of events in the buyout of the businesses of the debt laden Future Group by Reliance Retail, e-commerce giant Amazon.com, Inc has stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. Last year, Amazon acquired a 49 per cent stake in Future Coupons, a Future group entity. In August, Reliance Retail Ventures Limited (RRVL), a subsidiary of RIL announced that it is acquiring the retail, wholesale, logistics and warehousing business from the Future Group as going concerns on a slump sale…
IT services and consulting major Infosys on Thursday announced that it has signed an agreement to acquire Blue Acorn iCi for up to USD 125 million (about Rs 915 crore). Blue Acorn iCi is a digital customer experience, commerce and analytics services provider. “The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey,” the company said in a release. “Together with Infosys’ earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorn iCi brings complimentary capabilities to help global CMOs and businesses thrive in a digital commerce…
Mumbai: Mukesh Ambani remains at No. 1 for the 13th year in the Forbes List of Indias 100 Richest, as the tycoon added $37.3 billion, bringing his fortune to $88.7 billion, a rise of 73 per cent. Amid the Covid-19 pandemic which hit India hard and led to a sharp economic contraction, half of the nation’s 100 richest on the 2020 Forbes India Rich List saw gains. Their collective net worth rose 14 per cent to $517.5 billion from a year earlier, even as the benchmark BSE Sensex stock index remained flat from a year ago. Shares of his Reliance…
The domestic stock market has seen a strong boom amid strong global cues. In today’s business, the Nifty has crossed 11850. However, it later closed at the level of 11835. Expectations of another relief package have increased in the US, after which there was good buying in the markets there on Wednesday. Even today, markets around the world have increased due to better sentiment. In today’s business, the Sensex is up by 308 points and closed at 40187 level. At the same time, the Nifty is up by 96 points and closed at 11835 level. Business has seen fierce buying…
Mumbai: Faced with an unprecedented downturn, India needs to continue with critical reforms to reverse the sudden and steep impacts of Covid-19 pandemic on its economy, said the World Bank in its twice-a-year-regional update. The latest South Asia Economic Focus relaxed on Thursday forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 per cent in 2020, after topping 6 per cent annually in the past five years. India’s economy, the region’s largest, is expected to contract by 9.6 per cent in the fiscal year that started in March 2020. The country’s…
Mumbai: Tata Group-led Titan Company on Thursday announced to exit its joint venture with German luxury brand Montblanc. The development is in line with Titan’s strategy to focus on its primary business and proprietary brands, the company said in a regulatory filing. As per the joint venture agreement, the partnership will end in December 2020. “In line with the company’s strategy to focus on its primary business and proprietary brands, and as mutually agreed with Montblanc, the company would be divesting its stake in the JV company and accordingly the requisite formalities will be completed in December 2020,” Titan said…