Author: Finance Khabar
New Delhi: Union minister R K Singh on Saturday inaugurated community-focused facilities developed by NTPC in Bihar, the power PSU said. The facilities included a three-km Meh-Indrapuri barrage road built by the power producer that will cut down the distance between Nabinagar in Aurangabad to Patna by 12 kilometre, NTPC said in a statement. Besides, the minister inaugurated two NTPC community centres built at a cost Rs 62 lakh in Barh town to support over 13,500 people in the adjoining villages, it said. “R K Singh, Minister of State (Independent Charge) for Power, New and Renewable Energy today inaugurated a…
New Delhi: The next time you don’t receive an electricity bill on time or your bill-related complaint is not addressed in the earnest, you can put the discom in your area in the dock and seek compensation. The government has unveiled the Draft Electricity (Rights is Consumers) Rules, 2020 that has eased the way electricity is supplied to consumers and also offers them a host of other services. The Power Ministry has put the draft of the rules for comments and stakeholders consultation and intends to implement it as part of consumer charter initiative. As per the draft rules, discoms…
The world changed drastically with the onset of coronavirus at the beginning of 2020. A disease, which originated in China, soon turned into a pandemic making people across the world kneel to its whims and fancies. It challenged globalization, banned leisure travel and forced people to confine to their homes to stay safe. Just like other countries, India too witnessed a harsh nationwide lockdown that, ultimately, impacted the economy. With an adverse effect on the country’s GDP, an influence on the insurance industry had to be coming. The GDP of a country is one way of measuring the insurance penetration…
Motorola is now giving a tough competition to Chinese smartphone companies. The company is continuously launching new smartphones in the market. After the Moto G9 Plus, the company has now launched its new budget smartphone Moto E7 Plus. This new smartphone has just been launched in Brazil but the E7 Plus can be launched in other markets soon. The price of Moto E7 Plus has not been officially announced yet. Motorola has listed the smartphone on its Brazil website. According to the website, this phone will come in Amber Bronze and Navy Blue color options. The Moto E7 Plus has…
Washington: The budget deficit of the world’s largest economy America has reached an all-time high of $ 3,000 billion in the first 11 months of the current budget year. The Finance Department gave this information on Friday. The US government has had to spend a large amount of money to mitigate the effects of the Corona virus pandemic, which has impacted the budget deficit. The epidemic has caused millions of jobs in America. The United States has the most cases of corona infection in the world. In the 11-month period from October to August of the current budget year, the…
New Delhi: State-run Canara Bank on Friday announced that it has raised Rs 1,012 crore via Basel III Compliant Additional Tier 1 bonds. “The Bank has issued and allotted Basel III Compliant Additional Tier I Bonds amounting to Rs.1012 Crore,” it said in a regulatory filing. The filing shows that the bank issued a total of 10,120 non-convertible, perpetual, taxable, subordinated, fully paid up, unsecured bonds carrying coupon rate of 8.30 per cent. As per the data, there were a total of three allottees to this bond issuance. Under the globally accepted Basel-III capital regulations, banks need to improve and…
New Delhi: India’s foreign exchange reserves on Friday surged by USD 582 million to reach a lifetime high of USD 542.013 billion in the week ended September 4, RBI data showed. In the previous week, reserves had surged by USD 3.883 billion to $541.431 billion. The reserves had crossed the half-a-trillion mark for the first time in the week ended June 5. In the previous week ended August 28, the reserves had surged by USD 3.883 billion to USD 541.431 billion. In the reporting week, the foreign currency assets (FCA), a major component of the overall reserves, increased by USD…
Mumbai: Challenging tech giants like Microsoft and Google, Chennai-headquartered software development company Zoho Corporation has launched a fully integrated, single software platform that brings together collaboration, productivity and communications tools under one roof. Zoho Workplace provides a unified platform with multi-faceted communications like email, messaging, audio and video conferencing; a cloud office suite with shared file storage; common team and collaboration paradigms built into each of the products; and AI, search, and other services that span right across the entire suite. “The nature of work has undeniably changed, and Workplace has grown to meet that change,” said Vijay Sundaram, Zoho’s…
New Delhi: Be wary the next time you take a selfie inside an aircraft or at aerodrome or decide to take picture-perfect snaps of the landscape below during landings and takeoffs as airline authorities could take punitive action against those responsible for the violation. The Directorate General of Civil Aviation (DGCA) has issued a fresh order under which airlines can face two-weeks suspension of scheduled flight operations on routes where such violations are reported and no action has been taken. The flight operations will be restored only after the airline has taken necessary punitive action against those responsible, the fresh…
San Francisco: Amazon sold several items including essentials such as toilet paper and hand sanitiser at inflated rate during the Covid-19 pandemic, said a report by US-based consumer rights group Public Citizen. Amazon set prices of products during the pandemic to levels that would be considered violations of price gouging laws in many states of the country, showed the findings of the report released this week. Numerous examples of price increases were found on essential products sold directly by Amazon, it added. While the e-commerce giant publicly blamed so-called third-party sellers for price increases, it continued to allow them to…
Mumbai: Route Mobile’s Rs 600-crore initial public offer (IPO) was subscribed 74.36 times on the final day of bidding on Friday. The cloud communications service provider received bids for over 89 crore shares as against the total issue size of 1.21 crore shares. With the help of the public issue, the company aims to raise Rs 600 crore which consists of fresh issue of Rs 240 crore and an offer for sale of Rs 360 crore. Price range for the offer was Rs 345-350 per share. Qualified institutional buyers (QIBs) category was subscribed 91 times, non-institutional investors category 195.61 times…
Bangalore: India’s total online food delivery gross merchandise value (GMV) is expected to be $13 billion by 2024 by clocking 12 million daily orders on an average, said a new report on Friday. While online food delivery, which has scaled to more than 500 cities and towns in India and over 10x GMV over the past three years, will continue to be the core, a significant growth is expected in the other businesses such as ads and groceries, amongst others, according to Bengaluru-based consulting firm RedSeer. These businesses have the potential to contribute up to a quarter of the total…
New Delhi: The Indian Railways are working on connecting capitals of all eight northeastern states and also executing a project to link up with Bangladesh’s railway networks to facilitate communication with other parts of India via the neighbouring country, Railways Minister Piyush Goyal said on Friday. With the Centre’s focus on all-round development of the region through better linkages, the Northeast Frontier Railways (NFR) had already connected Assam’s main city of Guwahati (adjoining capital Dispur), Tripura’s capital Agartala and Arunachal Pradesh’s Itanagar. “A 12-km-long Agartala-Akhaura (Bangladesh) railway project is now under execution to link Tripura’s railway network with Bangladesh’s railway…
New Delhi: Irda, the insurance sector regulator, has now allowed general and health insurance companies to issue policies in electronic form. Giving this information on Friday, a senior official of IRDA said that in future, the policy of issuing insurance policy in electronic form will be made. TL Alamelu, a non-life insurance member of the Insurance Regulatory and Development Authority of India (IRDA), said in an industry event that a lot needs to be done in the case of policy holders and other stakeholders in the insurance sector. He said that as far as the regulator is concerned, a lot…
Industrial production (IIP) declined by 10.4 percent in July due to poor performance in manufacturing, mining and power sectors. This information has been given in the official data released on Friday. According to the data, production in the manufacturing sector declined by 11.1 percent in July. Similarly, the production of mining sector has fallen by 13 per cent and the production of power sector by 2.5 per cent. The Ministry of Statistics and Program Implementation said in a statement that due to the measures taken by the government to prevent the spread of Kovid-19 epidemic and the lockdown across the…
Call 9020774400 for COVID 19 Queries Patna: As the state is plagued by CoronaVirus, Bihar Foundation (a Bihar Government initiative) has set up a COVID 19 Call Center in collaboration with NirogStreet (leading Ayurveda healthcare organisation) to assist people of Bihar. People of Bihar can call at 9020774400 for queries related to COVID 19 answered by a team of doctors. This call center will also provide information and guidelines issued by the Health Department, Bihar related to COVID 19. It will also assist in medical consultation related to COVID 19. Moreover, one can also get Oxygen cylinders by calling this…
New Delhi: Doctors at the Krishna Institute of Medical Sciences (KIMS), one of India’s leading healthcare providers, have successfully performed India’s first-ever double lung transplant surgery on a Covid-19+ve patient, who was discharged from the hospital on Friday. The procedure was performed at the main branch of the hospital located at Hyderabad, and was led by Dr. Sandeep Attawar, who is considered a pioneer in heart and lung transplant surgeries in India. The patient, a Rizwan (Monu) 32-year-old man from Chandigarh, Punjab, was suffering from sarcoidosis that affected his lungs significantly, leading to fibrosis of the lungs. Condition of the…
Chennai: The Enforcement Directorate (ED) said on Friday that the Standard Chartered Bank has been fined Rs 100 crore by its Adjudicating Authority under the Foreign Exchange Management Act, 1999 (FEMA). The Adjudicating Authority has also fined Tamilnad Mercantile Bank (TMB) Rs 17 crore and its then Chairman and Director M.G.M. Maran Rs.35 crore. According to the ED, a probe under FEMA was taken up based on reference received from the Reserve Bank of India (RBI) to investigate advance remittances received by certain entities for purchase of the shares of Tuticorin headquartered TMB through the escrow mechanism maintained with Standard…
Reliance Jio and Airtel have brought new tariff packages for fixed line broadband. Their price is lower than before, although the data speed has also decreased. Jio’s monthly price starts at Rs 399 and Airtel’s Rs 499. But the existing customers’ monthly bills will not be cut. For this, they have to use internet speed less than the current speed. Earlier, the initial monthly tariff package for Jio FBB connection was Rs 699, with 100Mbps speed and 150GB data available. Now Jio is offering the initial package for 399 rupees but the speed will be 30 Mbps. However, the data…
Investors have been cautious in the domestic stock market on Friday amid weak global cues. Today, both Sensex and Nifty traded in the realm. However, they have closed with light speed. The Sensex has gained about 14 points and closed at a level of 38,854.55. At the same time, the Nifty also closed at the level of 11464 with a gain of 15 points. Earlier on Thursday, the stock market closed with great momentum. Today’s business has seen a boom in the IT sector. Bank and financial stocks have been under pressure. SBI and TCS have been in today’s top…