Author: Finance Khabar
Bareilly: Bank of Baroda, India’s premier and third largest public sector bank, has announced retail loan offers ahead of the festive season. The offer will be applicable for Home Loan and Car Loan product, wherein the Bank is offering waiver of @0.25% in the existing applicable rates for Baroda Home Loans (Under take over cases only) and Baroda Car Loans across the board. In addition, the Bank will also waiver processing fee. With this competitive pricing and waiver of processing fee, the prospective customers get an extra incentive to shift their existing home loan to Bank of Baroda and buyers…
New Delhi: Speaking at ‘RAISE 2020’, a virtual summit on AI organised by the Ministry of Electronics and IT and NITI Aayog, the RIL Chief termed intelligent data as ‘digital capital’ and said that in the coming decades nations will increasingly compete on digital capital. “India has the unique advantage to harness its enormous digital capital for AI-driven development, which is bottom-up and inclusive. This is because of our twin strengths of democracy and demography,” he said. He exuded confidence that the government will introduce a sound data regulation framework to protect this national resource and ensure data privacy. “Therefore,…
New Delhi: Citing how trends in online purchases and deliveries have picked up substantially post the lockdown, it also pointed out the pickup in the automotive sector, especially entry-level cars, motorcycles, and the tractors segment which augurs well for specific logistics players like auto carriers. However, other segments like capital goods continued to remain subdued for the logistics sector. In its analysis of ten leading logistics companies, ICRA observed an adverse impact in Q1FY21 as aggregate revenues of players declined by 35 per cent on a YoY basis, in line with the sharp moderation in GDP growth. “While the revenues…
Mumbai: Aditya Birla Sunlife, a mutual fund of Aditya Birla Group, has launched a new investment scheme ‘Special Opportunities Fund’. It is an open-ended equity scheme and will adopt a special theme based investment strategy. The fund has been opened for investment from Monday 5 October and will close on 19 October. The minimum investment amount in this scheme is 500 rupees and investors can also invest through lump sum or SIP. The fund will be managed by Anil Shah, a senior fund manager with over 30 years of experience. Managing Director of Aditya Birla Sunlife Mutual Fund A.K. Balasubramanian…
New Delhi: Lauding Commerce and Industry Minister Piyush Goyal for calling for an aspirational export target of $1 trillion, EEPC India Chairman Mahesh Desai said: “We would only need an enabling environment where domestic taxes are not exported and high costs of transactions in the form of inadequate infrastructure are reduced.” He pointed out that exporters were only partly compensated for the domestic taxes, while they continue to incur high costs of infrastructure.Desai cited a recent study of the Export-Import Bank of India that stated that immediate refunds of the GST can itself add to exports by 7 percentage points and…
New Delhi: The decision taken to meet again in October was suggested by Bihar Deputy Chief Minister and Finance Minister Sushil Modi, after the Council’s Monday meet failed to break the deadlock between the Centre and the state governments on the issue of compensation. Addressing a press conference after the meet, Sitharaman said that only because 20 states accepted Option 1, does not mean that it can be thrust upon others. “We need to talk further.” In a sober tone, she said: “I was gently reminded that I can not take anybody for granted… Although I don’t take anybody for…
First phase of renovations completed with new lobby, Machan and Emperor Lounge The iconic Taj Mahal, New Delhi unveiled the new avatar of the Capital’s original and much-loved dining destination Machan. The hotel also reopened to an elegant new lobby and the Emperor Lounge after a stylish makeover. Taj Mahal, New Delhi has been under extensive renovation since July 2019, reinventing itself to offer the essence of timelessness and heritage of Lutyens’ Delhi, coupled with contemporary flair and impeccable service the hotel has been renowned for. The next phase of the transformation will include the redesigned rooms and The Chambers…
New Delhi: The board of directors of Tata Consultancy Services (TCS), the country’s largest information technology sector, will consider a proposal to buy back the company shares this weekend. In a regulatory notice sent to the stock exchanges on Sunday night, TCS said, “The company’s board of directors will consider the proposal for share buyback in a meeting to be held on October 7, 2020.” No other details were given about the buyback of the shares. It said that during this period the board of directors would also consider the company’s September quarter financial results and declare a second interim…
Mumbai: After the lockdown, the Reserve Bank of India has cut interest rates drastically to bail out the economy. This has brought some relief to the debt burdened businessmen and personal loan holders, but the investors are losing money, who earn income by investing their savings in fixed deposit schemes (FDs) of banks. In such a situation, these investors are looking for other options for safe investment. For these, small savings schemes of the post office i.e. India Post Small Saving Schemes are the safest option. Although India Post’s rates have also come down due to lower interest rates across…
New Delhi: Adani Ports and Special Economic Zone on Monday informed about the acquisition of Krishnapatnam Port Company Limited. According to this, Adani Ports has completed this acquisition for 12 thousand crores rupees. After this acquisition, Adani Ports, the country’s second largest port developer in the private sector, will have a 75 percent stake in KPCL. APSEZ said after the acquisition that the deal would increase their capacity to 200 million tonnes by 2025. APSEZ expects its market share to increase to 25 per cent in FY 2021 after this acquisition. It is now 21 per cent. The company issued…
The domestic stock market has also seen a good boom today amid better global signals. The Nifty has gone beyond 11500 in the business. In fact, there has been news of the well being of US President Donald Trump. He can be discharged from the hospital soon. Another relief package can be found in the US soon. Global sentiments have improved since then. The Sensex has gained 276.65 points and closed at a level of 38,973.70. At the same time, the Nifty gained 86 points and the cum closed at 11503 level. IT and metal stocks have seen the maximum…
Chandigarh: These new centres have been added to cater to the increased shipment volumes due to additional sellers now active from the cities of Ludhiana and Jalandhar, it said. Most of this new capacity will cater to shipments of fashion apparel including ‘phulkari dupattas’, crepe tops and ‘anarkali’ suits, and fashion accessories like watches. Phulkari embroidered masks have been a recent addition to the fashion trends originating from Punjab, it said. The sale of sports goods like badminton racquets, cricket sets, home gym equipment, punching bags, sports shoes, hand wraps, among others, has also been benefiting sellers from Jalandhar and…
Mumbai: A 57 per cent market share in the automotive paints segment makes Kansai Nerolac the largest segmental player. However, its share in the more lucrative decorative paints, which is 75 per cent of the Rs 55,000-crore domestic industry, is only 11 per cent yet fetches 55 per cent of revenue. The automotive segment fetches 45 per cent revenue to the company. The nearly Rs 5,000-crore Kansai Nerolac, which is 75 per cent owned by the world’s eighth largest player Kansai Paint Co of Japan, overall enjoys 18 per cent market share, making it the second largest player after Asian…
New Delhi: The soaring spirit of Khadi lovers got better of the Covid-19 fear this Gandhi Jayanti with the Khadi sales figures crossing the Rs 1 crore mark at Delhi’s flagship Khadi India outlet in Connaught Place. On Friday (October 2), the overall sales of Khadi were recorded at Rs 1,02,19,496, which is significantly high given the prevailing Corona pandemic situation. Last year, the total sale at Khadi’s CP outlet on October 2, stood at Rs 1.27 crore. As many as 1633 bills were generated throughout the day with an average purchase of Rs 6258 per bill. Customers belonging to…
New Delhi: Global alternative asset firm TPG will invest Rs 1,837.5 crore to buy 0.41 per cent stake in Reliance Industries’ retail arm, Retail Ventures Limited (RRVL),the Indian conglomerate announced on Saturday. “Global investment firm TPG will invest ₹ 1,837.5 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of ₹ 4.285 lakh crore. TPG’s investment will translate into a 0.41% equity stake in RRVL on a fully diluted basis,” the company said in a regulatory filing. This marks the second investment by TPG in a subsidiary of Reliance Industries, following…
New Delhi: Any kind of bacteria and virus can spread through currency note and hence people should use digital payment more and more instead of using currency. In response to a query sent by the Confederation of All India Traders (CAIT), the Reserve Bank of India (RBI) has given this reply indirectly in one of its mails. On 9 March 2020, CAT sent a letter to Union Finance Minister Nirmala Sitharaman urging to clarify whether the currency notes were carriers of bacteria and viruses. The Finance Ministry sent it to the Reserve Bank, in response to which the RBI indicated…
New Delhi: It can be noted that the country’s GDP contracted by nearly a fourth in the June quarter and everybody is watching for signs of revival. Some analysts feel the encouraging data for the last month can be a sign of pent-up demand. “My assessment is that the macro situation has improved quite a bit, especially in the last month or so. I’m seeing a clear return of optimism and this is evident when I converse with CEOs of various organisations and when I see our own new loan enquiries, credit card spends and account openings,” Chaudhry told in…
New Delhi: Vedanta Resources Ltd (VRL) has given a public announcement to kick start the Reverse Book Building (RBB) process in order to delist Vedanta Ltd (Vedanta) from stock exchanges. The bidding commences on October 5 and closes on October 9. SES has said, “Investors must ignore floor price, book value and 52-week low price as the same does not reflect true value of Vedanta shares”. “While, SES has given guidance as to what is a fair bidding price. However, it is up to the shareholders to do proper analysis and not succumb to negative news floating around. Promoters of…
New Delhi: Ravi Santhanam, the Chief Marketing Officer (CMO) of HDFC Bank, has made it to the Forbes’ list of ‘World’s Most Influential CMOs’. Santhanam ranks 39 in the list of 50 most influential CMOs. “Santhanam is a marketing leader who prioritises personalised and relevant customer experience and believes that machine learning and data science are critical tools for marketers; he expressed so in a recent Netcore Solutions blog,” Forbes said. It also noted that he led the Indian bank’s response to the coronavirus outbreak, launching the “#HDFCBankSafetyGrid” campaign to help people keep safe distance in public. He is the…
New Delhi: According to Tata Sky managing director and CEO Harit Nagpal, DTH and OTT are going to co-exist with both of them offering unique content. “Both have their own place as they serve mutually exclusive and unique content and one does not substitute the other,” Nagpal told PTI. On being asked as to whether the average revenue per user from the DTH business would be impacted as consumption of OTT on large screen trough smart TV is on the rise, he said: “We have not seen one platform suffering at the cost of the other”. “TV is a platform…