Govt announces Rs 48,239-cr recapitalisation for PSU banks
Nifty PSU Bank index rose over 1 percent led by gains in Central Bank of India, PNB, Bank of India, Union Bank of India, Syndicate Bank, Vijaya Bank as well as SBI after the government announced final recapitalisation tranche amount…
After ban in other countries, Positive response from the Indian government for Huawei
After the US, Australia and New Zealand governments ditched Huawei (along with ZTE) from installing its 5G gears ,Huawei is battling to reverse the ban on its equipment in various countries. Countries fearing possible spying by the Chinese government, there…
SBI writes off Rs 10,000 cr Bad loans
These banks had written off loans worth only `33,259 crore in Q2FY19, up 24% y-o-y, indicating a gathering of pace in the write-off exercise. Loans written off by a clutch of 19 large and mid-sized public-sector banks (PSBs) in the…
Nifty above 10,650, Sensex up 100 points
Sensex is up 163.47 points or 0.46% at 35661.91, and the Nifty up 41.20 points or 0.39% at 10682.20. About 1201 shares have advanced, 560 shares declined, and 79 shares are unchanged. Gainers include Jet Airways, Ambuja Cements, Dr Reddy’s…
India’s Disinvestment budget Rs 80k crore, in proceeding it already touched Rs 54k crore
Government budgeted to Rs 80,000 crore disinvestment this year where the proceeds have touched Rs 53,558 crore so far in the current fiscal. As a part of disinvestment, government has sold as much as 3 per cent stake in Axis Bank…
Loss making Jet Airways likely to get over Rs 3,000 crore funds
Loss-making Jet Airways is likely to receive fund infusion worth over Rs 3,000 crore post debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund (NIIF). On February 14, Jet Airways’ board approved a Bank-Led Provisional…
HCL among Top 10 Tech Firms to receive H1-B certifications in US
US move to limit H1-B visas has left major tech companies perturbed, seriously affect their ability to get and retain talented staff, Indian tech firm HCL has managed to secure 5,085 foreign labour certifications for the H-1B work visas, making…
Airports Authority received 32 technical bids for privatisation of six airports
Recently India invited bid for carrying out operations, management and development of the six airports, where total of 32 technical bids have been received from 10 companies. As part of an open international competitive bidding process, the Airports Authority of India…
Honda Civic 2019 model to launch on 7th March in India
The tenth generation Honda Civic executive sedan will officially go on sale on March 7 to compete against Corolla Altis, Elantra and Octavia Honda Cars India is resurrecting a popular nameplate officially on March 7. The new generation Civic is…
Government gets applications worth ₹50k cr for Bharat-22 ExchangeTraded Fund
Bharat-22 Exchange Traded Fund (ETF) additional offering, which will help the government to inch close to its divestment target in fiscal year 2019 has received applications aggregating worth ₹50,000 crore. “The offering attracted an aggregated subscription amount of approximately ₹50,000 crore…
Rupee falls 14 paise against US dollar in early trade
The rupee depreciated 14 paise to 70.94 against the US dollar in opening trade at the interbank forex market on Thursday on increased demand for the greenback from importers and banks amid rising global crude prices. A strong dollar in…
Tata Sky, Sun Direct Remove Network Capacity Fee on Free-to-Air Channels
This decision from the two DTH operators comes to light as Telecom and Regulatory Authority of India (TRAI) has extended the deadline for migrating to the new plans to March 31. Tata Sky and Sun Direct have reportedly removed the network…
TRAI Extends Deadline to Select New DTH Plans to March 31
TRAI has given time till March 31 for consumers to opt for channels of their choice under the new framework for broadcasting and cable services, the telecom regulator said Tuesday. In a statement, the Telecom Regulatory Authority of India (TRAI)…
“Reliance invests in Rafale but can’t Pay 550 Crores?” Ericsson In Court
Reliance Communications (RCom) told the court they had tried to move “heaven and earth” to ensure Ericsson gets its due but was unable to do so due to failure of assets sale deal with Jio. Telecom equipment maker Ericsson India…
Swiggy moves beyond food delivery, opens Stores to deliver day-to-day needs
Food ordering and delivery platform Swiggy on Tuesday said it has launched ‘Swiggy Stores’ moving beyond its core food delivery segment to provide access to consumer items across multiple categories. The company will deliver from these stores “in categories such…
ITC Buys Into Ecommerce, To Launch Premium FMCG Products On Its New E-Store
ITC Limited, is reportedly planning to onboard premium products into its recently launched ecommerce website, itcstore.in, as it seeks to expand its market share in the Fast-Moving Consumer Goods (FMCG) segment of India. “ITC plans to sell premium and niche…
RBI cuts repo rate for the first time in 17 months
In a major policy shift, the six member monetary policy committee (MPC) headed by Governor Shaktikanta Das on Thursday lowered the repo rate by 25 basis points to 6.25 per cent in a 4-2 vote. RBI has thus cut rate…
Paytm leads in UPI usage, Google Pay & PhonePe follow
In the UPI usage run, Paytm clocked more than 221 million transactions, while Google Pay and PhonePe were at about 220 million,. PhonePe, however, told leading financial news, across all payment modes it had 225 million transactions worth Rs 30,000…
BSNL brings VRS package, freezes employee benefits
BSNL has frozen its employee benefits and is undertaking other measures to cut down its expenditure drastically, aiming to sustain itself in the current market scenario, its chairman and managing director Anupam Shrivastava told leading news agency. With all the…
Bengal Global Business Summit: Mukesh Ambani announces Rs 10,000 crore investment
The inaugural session of the 5th Bengal Global Business Summit (BGBS) Thursday saw industry heavyweights make several multi-crore investment announcements for the state while the government signed MoUs with Italy, Germany and the Republic of Korea. Reliance Industries chairman Mukesh…
After week-long turmoil discounts, fast deliveries back again on Amazon
Attractive discounts and fast deliveries are making a comeback on Amazon.in website after a week-long operational disruption as its top sellers like Cloudtail, Appario and Amazon Retail returned on its platform on Thursday. The latest FDI rules for foreign-owned e-commerce…
Facebook ‘youth team’ to focus on Messenger Kids app for under-13s
Facebook is restructuring its “youth team” with a greater focus on Messenger Kids, its instant-messaging app for under-13s, reports say. The team, a small group within the company responsible for getting children to use the social network, had previously been…
Seven students from Gujarat among top 50 in CA intermediate
Seven students have scored All India Rank among top 50 in Chartered Accountants Intermediate Examination held in November 2018. While the topper of the state, belonging to Ahmedabad, has scored AIR 10, two students from Surat and Rajkot have scored…
Jewar Airport gets big infra wings from Yogi Adityanath government in UP Budget
UP Budget 2019-20, CM Yogi Adityanath-led government gave big infra wings to Jewar Airport. UP government has earmarked whopping Rs 800 crore for Jewar Airport. The airport which has become talk of the town in terms of development projects in…
SBI to reduce home loan rates
Within a day of RBI reducing repo rate by 25 basis points, the country’s largest lender State Bank of India on February 8 announced a cut in interest rates by 5 basis points on its home loans up to Rs…
Switzerland set to transfer details of Indian account holders in HSBC
The transfer of banking details of accounts held by Indians in HSBC (Suisse) by Swiss authorities has become imminent with account holders receiving a communication from the Swiss Federal Tax Administration (FTA) to provide their written consent and a Swiss…
Government requested the Reserve Bank of India to provide an interim surplus
Government requested the Reserve Bank of India to provide an interim surplus during the ongoing financial year 2018-19 from the amount withheld in the two previous fiscals, Minister of State for Finance P Radhakrishnan said in the Rajya Sabha. RBI…
IDBI may now become LIC Bank
The board of IDBI Bank Monday proposed change in the name of the lender to either LIC IDBI Bank or LIC Bank following its takeover by Life Insurance Corporation. Last month, the insurance behemoth completed the acquisition of 51 per…
Daughters are special: Amitabh
Bollywood Actor Amitabh Bachchan on Monday penned a heartfelt post for his daughter Shweta Bachchan Nanda as her debut novel “Paradise Towers” has become one of the best-selling fiction books. Praising Shweta for the achievement, Big B took to social…
SBI denies reports of data leak
With the recent news hitting that State Bank of India (SBI)’s information related to bank balance, bank account number and other key bits were leaked but has rebutted reports that data of its customers got leaked. “In the incident that has…