Author: Finance Khabar

New Delhi: As part of its ‘Memorandum of Understanding’ (MOU) with the Ministry of Power for financial year 2020-21, the company is also targeting a capex of Rs 21,000 crore and coal production of 15 million metric tonnes (MMT) for the current fiscal. The MoU was signed by Sanjiv Nandan Sahai, Secretary (Power) and Gurdeep Singh, CMD, NTPC in the presence of senior officials from the Ministry of Power and NTPC. NTPC has delivered exceptional performance in the past years and the ratings on the parameters stands testimony to its performance, a company statement said. Further, the group has over…

New Delhi: As part of Airtel Secure, the company also launched its Security Intelligence Centre in the National Capital Region. This facility will offer its tracking services to businesses of all sizes — from large enterprises to small and medium businesses — on a 24/7 basis. Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel, said: “With the incredible trust we enjoy from our customers, we believe Airtel Secure will provide our customers peace of mind, enable faster response times to potential threats, and help protect their data so as to reduce business risk.” The company said that…

New Delhi: The central government has extended the deadline to file GST annual return and audit report for the financial year 2018-19 by one month. Now taxpayers can file GST returns annually till 31 October 2020. The Central Board of Indirect Taxes and Customs (CBIC) tweeted, ‘In view of the Model Code of Conduct, after receiving the appropriate approval from the Election Commission, the government has given 30 days on the due date for filing annual returns under GSTR-9 and GSTR-9C. Has been increased from September 2020 to 31 October 2020. Earlier, in May, the government had extended the last…

Honda Motorcycle & Scooter India (HMSI) has unveiled its new cruiser bike H’Ness CB350 (Highness CB350). This bike made a global debut in India on Wednesday. The Honda H’Ness CB350 is a Made in India bike. It will be launched in India in the first 15 days of October. The H’Ness CB350 bike will be a rival to the Classic 350 bike of Royal Enfield. Apart from this, it will also compete with the bikes of Jawa and Benelli brands. Booking of the bike has started. It can be booked at Honda’s official website and wig wing outlets at a…

The domestic stock market has also witnessed pressure today amid weak global cues. At the end of trading, both the Sensex and the Nifty managed to remain closed on the green mark with a slight uptrend. The Sensex had a slight gain of 95 points and closed at a level of 38,067.93. At the same time, the Nifty also closed at a level of 11227 with a slight gain of 4 points. Earlier on Tuesday and Monday, the market was weak and closed. In today’s business, banks and metal stocks are selling. FMCG shares have seen a boom. Tech Mahindra…

Mumbai: Bank of Baroda, the country’s third-largest public sector bank, inaugurated the 3rd edition of ‘Baroda Kisan Pakhwada’ which is being organised from 1st October to 16th October, 2020. This event is earmarked to appreciate the spirit and vigour of the farming community for their contribution towards sustaining the economy during the pandemic and for the development of the country. ‘Baroda Kisan Pakhwada’ is a pan-India initiative to encourage farmers to get connected with the services offered by the Government and the Bank. Last year over 6,11,779 farmers were benefitted by various outreach programmes conducted by the Bank. This year…

British oil explorer Cairn Energy Plc on Tuesday said it is seeking from the Indian government USD 1.4 billion (about Rs 10,300 crore) in losses arising from the expropriation of its investments to enforce a retrospective tax demand. In its half-yearly earnings statement, the company said it expects an international arbitral tribunal to shortly give a decree on its challenge to the Indian government seeking Rs 10,247 crore in retrospective taxes. “The main evidentiary hearing of Cairn’s claim under the (UK-India Bilateral Investment) Treaty took place in August 2018 in The Hague with a final hearing in December 2018. All…

New Delhi: Google faced strong backlash from developers globally after it announced it will enforce its own in-built billing system, which charges a 30 per cent fee to all app developers. According to the IAMAI, as a payment aggregator, currently unlicensed but soon to be licensed in India, Google Billing System can choose which payment instruments it would work with and which ones it would not. “The new draft RBI guidelines on payment aggregators, too, allows for that freedom. The compounding factor for many founders is the current revenue sharing policy of the Play Store,” it said in a statement.…

New Delhi: In a regulatory filing, Dhanlaxmi Bank said the banking sector regulator through a letter dated September 28, 2020, has appointed D K Kashyap, General Manager, Reserve Bank of India, Bengaluru Regional Office as Additional Director on the board of the bank. The appointment is for a period of two years with effect from September 28, 2020, to September 27, 2022, or till further orders, whichever is earlier, it said. The RBI usually does not appoint its nominee on the boards of private banks unless there are exceptional circumstances to avoid any conflict of interest. Kerala-based Dhanlaxmi Bank was…

Ahmedabad: Adani Wilmar, the maker of the popular Fortune brand of edible oils and food products has expanded its range of personal care products by foraying into handwash and sanitizer segments. Adani Wilmar had forayed into the personal care category with the launch of soap under the brand name Alife in 2019. “Awareness regarding handwash and sanitizers has gone up in the wake of the Covid-19 pandemic. Demand has also risen sharply. We feel that this is the best time for us to foray into handwash and sanitizer segments,” said Mr Ajay Motwani, Head – Marketing, Adani Wilmar. The market…

New Delhi: The world today, lives in fear of the coronavirus. People and healthcare workers are overwhelmed with the stress of infection. But there is a more potent killer out there. Something no vaccine can protect you from, no mask can save you from- Heart Disease. People would do almost anything to avoid going to the hospital during the COVID-19 pandemic. Unfortunately, that has resulted in many people ignoring the signs of a heart attack. Research shows that people are 17 times more likely to die from a heart attack than from COVID-19. In our endeavour to create an awareness…

New Delhi: The fresh infusion will provide more ammunition to Amazon to compete aggressively against Walmart-owned Flipkart and billionaire Mukesh Ambani-run Reliance Industries’ JioMart in the upcoming festive season. Amazon Corporate Holdings Private Limited, Singapore and Amazon.com Inc Limited, Mauritius have pumped in Rs 1,125 crore into Amazon Seller Services, regulatory documents sourced by business intelligence platform Tofler, showed. Amazon Seller Services allotted equity shares to these entities for the said transaction on September 17, 2020. Amazon did not respond to queries. In June this year, Amazon had pumped in fresh capital to the tune of Rs 2,310 crore into…

Chennai: The expansion will contribute to the economic growth in the state while creating thousands of work opportunities for locals, Amazon India said. The new centre will offer close to seven lakh cubic feet of storage space, housing lakhs of products in the large appliance and furniture category. With this infrastructure expansion, Amazon.in will now offer storage capacity of close to three million cubic feet across five fulfilment centres to its more than 43,000 sellers in Tamil Nadu. “Tamil Nadu is an important market for us and we are delighted to further invest and expand our infrastructure in the state.…

Domestic stock market started today with better global cues, but later the market dominated selling. Bank and FMCG shares increased the pressure the most. All indices except metal, IT and auto weakened. At the end of trading, the Sensex weakened by about 8 points and closed at 37,973.22. At the same time, there was a weakness of about 5 points in the Nifty and it closed at the level of 11222. Earlier on Monday, there was a strong boom in the stock market. In today’s business, UntraTech is the cement top gainer and ONGC is the top loser. Talking about…

India’s Tata Group is in talks with potential investors for a stake in its new digital platform. People associated with the case said that the company wants to modernize its consumer business as big retail companies like Amazon Inc and billionaire Mukesh Ambani are entering the country’s e-commerce market. Tata Sons Private is a $ 113 billion holding company that is a conglomerate ranging from coffee to cars, working with advisors to bring in financial or strategic investors, including global technology companies. According to people, the group plans to bring different digital assets of Tata businesses together to form a…

The Australian consumer products company is asking for people around the globe to join their movement to flip consumerism and change the world Today, Australia-based social enterprise Thankyou announced an invitation to P&G and Unilever – two of the world’s largest and most influential consumer goods companies – to make and distribute Thankyou products globally to help end extreme poverty. To convince these companies to take this bold move, Thankyou is asking people around the world to get involved and show the collective power of the many who believe in this change, through its campaign aptly named “No Small Plan.”…

New Delhi: The RBI, as a temporary measure, had increased the borrowing limit for scheduled banks under the marginal standing facility (MSF) scheme from 2 per cent to 3 per cent of their Net Demand and Time Liabilities (NDTL) with effect from March 27, 2020. The facility, which was initially available up to June 30, 2020 was later extended up to September 30, 2020 in view of the disruptions caused by the COVID-19 pandemic. “With a view to providing comfort to banks on their liquidity requirements as also to enable to continue to meet LCR requirements, it has been decided…

The Turkish lira skidded to record lows against the US dollar, euro and pound on Monday amid concerns Turkey could get more involved in a fast-escalating conflict in the Caucasus, despite last week’s surprise rate increase meant to support the currency. The Turkish lira slid 2 percent against the dollar and was on track for its worst day since early August when the latest bout of selling began hitting the currency that has shed half its value in less than three years. The selloff erased the gains made during a rally late last week after Turkey’s central bank unexpectedly raised…

New Delhi: Domestic rating agency Icra (ICRA) on Monday further downgraded the country’s GDP projections, saying that the Indian economy could decline by 11 per cent during the financial year 2020-21. The rating agency had earlier predicted a 9.5 percent contraction. Icra revised its estimates and said that the rate of Kovid-19 infection in the country remains high. Significantly, after the official figures of growth for the first quarter of the current financial year, some analysts have said that the economy will fall by 14 per cent during the financial year 2020-21. There has been a 23.9 percent decline in…

Deadly clashes between Armenia and Azerbaijan are unlikely to result in major disruptions to energy production and supplies, analysts say, despite the region being a critical corridor for pipelines transporting oil and gas to the global markets. “There is not really much anticipation that this will boil over into something more serious for oil and commodity markets,” Edward Bell, a senior director at Dubai-based Emirates NBD bank, told CNBC. “If the geopolitical premium is not already in the price, I don’t think we’re going to see much reaction here on in,” Bell added, despite a worry that recent clashes could…