Author: Finance Khabar
Bharti Airtel on Wednesday said it has picked up a strategic stake in tech startup Waybeo under the Airtel Startup Accelerator Program. “As part of its strategy to scale up its cloud offerings, Bharti Airtel (“Airtel”) today announced that it has picked up a strategic stake in tech startup Waybeo under the Airtel Startup Accelerator Program,” the telco said in a statement. The company, however, did not divulge into the financial details of the deal. Trivandrum-headquartered startup, Waybeo, is focused on deep Al based analytics for cloud telephony. It is the fifth startup, (after Vahan, Spectacom, Lattu Kids and Voiceze)…
Kolkata: Parliament passed the Essential Commodities (Amendment) Bill, 2020, which seeks to remove cereals, pulses, oilseeds, edible oils, onion and potatoes from the list of essential commodities. The bill, which replaces an ordinance promulgated in June, is aimed at eliminating fears of private investors of excessive regulatory interference in their business operations. “The relaxation on ECA will increase farmers’ income as they will be able to sale their produce anywhere, and not just to the local mandi. Now, large corporates will go deep into villages to buy crops directly. It will be remunerative for farmers,” the economist told PTI. But…
Kolkata: “The MFIs are now slowly overcoming the challenge by keeping in touch and hand-holding customers to wade through the difficult times,” an official of the Microfinance Institutions Network (MFIN) said.The complete stoppage of micro-finance operations from March-end to May due to the coronavirus-induced lockdown had been a big setback, he said.He said although the MFIs provided moratorium to customers as per RBI guidelines, they were not extended the same by some lenders. “This caused a double squeeze. However, policy support in the form of TLTRO (targeted long-term repo operations) and special liquidity facility by the apex bank helped MFIs overcome…
We have seen weakness in the stock market for the third consecutive day. The domestic stock market started with strong momentum amid mixed global cues, but later the market was weak. The selling in Pharma and PSU bank shares was more. The Nifty closed below 11150 in business. At the end of trading, the Sensex has lost about 66 points and closed at the level of 37,668.42. At the same time, the Nifty has lost 22 points and closed at 11132 level. Axis Bank was the top gainer in today’s business, while Airtel fell 8 percent. Talking about global signs,…
New Delhi: Sources in the government said that with 21 states expressing their preference for the Borrowing Option-1 proposed by the Centre to meet the GST compensation needs of states this year, the next course of action would extend the period of cess levy beyond five year GST transition period that ends in June 2022. As the Council is likely to adopt the compensation formula suggested by the Centre in the difficult year of Covid-19 pandemic, sources said it may also decide how long compensation cess levy should be extended to clear all dues to states. “A two-year extension of…
Hyderabad: According to a press release issued by the city-based vaccine maker, Bharat Biotech owns the rights to distribute the vaccine in all markets except the US, Japan and Europe. While the Phase I trial will take place in St Louis University’s Vaccine and Treatment Evaluation Unit, Bharat Biotech, upon obtaining the required regulatory approval, will pursue further stages of clinical trials in India and undertake large scale manufacture of the vaccine at its GMP facility in Genome Valley here, it said. Adenoviruses are the basis for many investigational vaccines for COVID-19 and other infectious diseases, such as Ebola virus…
New Delhi: The order came after Sebi received multiple complaints pertaining to allegations of malpractices with respect to the co-location facility being provided by the National Stock Exchange of India (NSE). In the wake of allegations of preferential access to tick-by-tick (TBT) data feed given by NSE to certain trading members (TMs), the matter was taken up for investigation and Advent was one of the trading members that was identified for comprehensive investigation for primary and secondary server connects, Sebi said. As per NSE’s co-location guidelines, secondary server was provided by NSE in order to enable members to connect to…
Mumbai: The upward revision in prices is part of the annual exercise undertaken to adjust inflation, fluctuation in currency and fuel price, among others, it said. As per the General Price Increase (GPI), effective January 1, 2021, the average shipment price increase will be 9.6 per cent as compared to 2020, depending on the shipping profile, Blue Dart said in the release. The company said it adjusts its prices annually, taking into account inflation, currency dynamics, fuel cost fluctuations and other rising regulatory and mandatory costs, such as expenses related to compliance for workforce with enhanced security regulations across the…
Amaravati: With its finances under strain, the state government established the AP State Development Corporation (APSDC) on August 27 as a new avenue to borrow more money and channelise donations from different sources. Money borrowed by SDC will not come under the Fiscal Responsibility and Budget Management Act limits, providing a major relief to the state government as it is set to raise more loans to meet its needs, including payment of salaries. It approached various banks for borrowing sums between Rs 15,000 crore and Rs 25,000 crore this financial year, stating that the money thus generated would be spent…
Ford India has launched a new Sport Edition of Endeavor. Its ex-showroom price is 35.10 lakh rupees. Booking of Ford Endeavor Sport has started at all dealerships of the company and online. The Sport Edition is not a limited edition, which means it will continue to be available like other regular variants of Endeavor. The Endeavor Sport will be available in three colors – Diamond White, Diffused Silver and Absolute Black. The car comes with a warranty of three years or 1 lakh km, whichever comes first. Talk about features Ford Endeavor Sport has features like smoked black LED headlamps,…
● A health-tech solutions business, aimed at improving the health outcomes of consumers through smarter, connected and holistic care● Introduces ‘Aarogya Care’, an industry-first product, offering a wide range of Personalized, Preventive and Prepaid Healthcare packages● Based on a mobile-first approach, ‘Aarogya Care’ integrates the various complementary components of the health ecosystem, to provide ease of access to quality and affordable healthcare, anytime, anywhere Pune: Bajaj Finserv Ltd, India’s leading financial services conglomerate, today announced the launch of its fully owned subsidiary Bajaj Finserv Health Ltd., (BFHL), a health-tech solutions business, aimed at improving the health outcomes of Indian consumers…
Mumbai: On September 11, SEBI said that multi-cap funds will now invest minimum 75 per cent of total assets in equities with 25 per cent each in large cap, mid cap and small cap companies. Describing the recent “confusion” regarding its circular on multi-cap funds as “unfortunate”, Tyagi said: “What we are saying and what we are trying to address here is ‘true to label’.” “So when we said that multi-cap should have some portion in small cap and mid cap, we are not really forcing anyone to invest in those caps, we are saying investment should be done in…
New Delhi: The power producer has invited expression of interest (EoI) from companies and MSMEs for setting up energy intensive manufacturing plants such as bulk chemicals, geopolymer, cooling & heating solutions, aluminum, mineral processing (ceramics, tiles, pottery, brick, glass etc), metallurgical and metal industries (foundries, forging, alloys, heat treatment, steel rerolling, etc) in the industrial parks to be developed at its existing power plants. The pilots in this regard would be set up in the NTPC Thermal Power plants at Solapur (Maharashtra), Kudgi (Karnataka) and Gadarwara (Madhya Pradesh), a company statement said. These industrial parks will be subjected to requisite…
The domestic stock market has also seen pressure throughout the day amid weak global cues. At the end of trading, both the Sensex and Nifty indices have closed in the red mark. The Nifty became weak and closed around 11150. The Sensex has fallen by nearly 300 points and has closed at the level of 37,734.08. At the same time, the Nifty also closed at 11154 levels with a weakness of 97 points. Earlier on Monday also, the Sensex had lost nearly 812 points. Signs are getting worse from global markets. The market is also disappointed due to the delay…
Mumbai: ideaForge, India’s largest manufacturer of drones for defence, homeland security, and industrial applications, has launched its new drone RYNO, a micro category (<2 kg) survey-grade drone designed and specialized for high accuracy mapping applications. It enables users to perform highly efficient land survey operations to develop accurate maps and 3D models. ideaForge’s family of survey-grade micro drones meet all the stringent specifications laid down by the Survey of India (SOI), India’s principal mapping agency. SOI has qualified ideaForge’s family of survey-grade micro drones for mapping India’s diverse and challenging landscape under the country’s Swamitva Yojana which is the largest…
New Delhi: According to a report by CRISIL Research, India turned net exporter of steel to China for the first time in several years, with 69 per cent of semi-finished steel and 28 per cent of finished steel heading there between April and August. Indeed, it was exports that saw large primary steel makers through the peak lockdown months, with 60-80 per cent of their total production between April and August finding its way to various destinations, with China leading the pack. Consequently, crude steel production fell a lower 27 per cent on-year despite a massive 38 per cent fall…
New Delhi: The ‘Stand for Handmade’ initiative, to help over 10 lakh artisans and weavers and women entrepreneurs, enabled sellers from Amazon Karigar (for weavers and artisans) and Amazon Saheli (for women entrepreneurs) to register 3.2 times and 2.1 times growth, respectively.While 32 sellers crossed Rs 1 lakh in sales during the 10-week period, two sellers crossed Rs 1 crore in sales. More than 200 new sellers joined the Karigar programme and benefited from 100 per cent SoA (sell on Amazon) fee waiver, impacting lives of over 35,000 artisans and weavers, the company said in a statement. “We are humbled by…
New Delhi: The Bank expects its response to the lawsuit to be due in early 2021, HDFC Bank said in a regulatory filing. HDFC Bank was clarifying media reports related to filing of class action claims by certain US law firms against the Bank. “In this regard, we wish to inform you that the Bank is aware of a complaint that was recently filed against the Bank and its three employees in the United States. The lawsuit, which was filed by a single small security holder who seeks to represent a class of the Bank’s security holders, is based on…
New Delhi: The smaller businesses have reported more stress than the larger ones in the survey of over 600 companies conducted by CARE Ratings between August 25 and September 13. The economy is set to contract by over 10 per cent as per some estimates during 2020-21, which is bound to have an impact on businesses as well. The government has announced additional spends of under 2 per cent to help the economy, which has been called as too little by some quarters. “Majority of participants said the government has not done enough for the revival of their sector and…
New Delhi: According to the rating agency, the present FAME II incentive for electric PVs is restricted to the commercial taxi segment only which also highlights the government’s awareness that the attractiveness of EVs for personal car buyers will remain distant in the near to medium term. This apart, the EV vendor systems needs substantial investments to keep costs under check and reduce dependence on imported electronic systems. The agency said that that battery swapping will face strong resistance from automobile OEMs due to a possible impact on their product differentiation capabilities as well as pricing flexibility. Its acceptance therefore…