Economy

  • Capital markets to play bigger role in funding economic growth: SEBI Chairman
    New Delhi [India]: SEBI Chairman Ajay Tyagi said on Wednesday that a large part of the non-banking financial intermediation is happening through capital markets.“Going forward, capital markets are going to play a bigger role in funding the economic growth,” he said while addressing virtually the […]
  • Gizmore launches smartwatch GIZFIT 910 with built-in speaker and handsfree calling
    New Delhi : Gizmore, India’s leading smart accessories & audio brand has launched the latest addition to its smartwatch segment – GIZFIT 910. This masterpiece comes with Full Touch HD Resolution with built-in speaker for Bluetooth calling and music. Apart from keeping you connected and […]
  • Tata Communications launches IZOTM Financial Cloud platform in India
    Mumbai, Jul 27 (UNI) Tata Communications, a global digital ecosystem enabler,on Tuesday launched ‘IZOTM Financial Cloud’, a purpose-built community cloud platform, enabling next-gen digital transformation, customised to meet the stringent data privacy and protection compliance and security guidelines defined by India’s regulators for the Banking, […]
  • Economy to revive February 2022 onwards if no Corona 3rd wave: Montek Ahluwalia
    New Delhi: Economy could revive from February 2022 onwards and get back to the pre-Covid level with capacity utilisation rising and the private sector making investment assuming a third wave of the pandemic does not hit the country, says the former Planning Commission Vice-Chairman Montek […]
  • Centre okays 2 more storage facilities for strategic oil reserves
    The Centre gave its nod for setting up two underground facilities to store crude oil for commercial and strategic purposes, under the second phase of the petroleum reserve programme, the minister of state for petroleum and natural gas Rameswar Teli told the Lok Sabha in […]
  • DDA extends last date for interest-free payment of cost of flats to August 31
    The DDA has extended the last date for making interest-free payment of the cost of flats by allottees of the 2021 Housing Scheme to August 31 in view of the second wave of the coronavirus pandemic, officials said on Saturday. The allottees of Dwarka Sector […]
  • Yes, India can be at par with US and China by 2047, says Mukesh Ambani
    Writing a rare column on the occasion of 30 years of economic liberalisation, the chairman of India’s largest company by market value Reliance Industries Ltd said bold economic reforms helped GDP of USD 266 billion in 1991 grow by over ten times. Three decades of […]
  • RBI central board short of 9 non-official directors
    According to the RBI Act, the government nominates 10 eminent persons from various fields to the central board of the RBI, besides four directors (one from each of the four local boards) The central board of the Reserve Bank of India (RBI) is facing shortage […]
  • Kochi-based Security Quotient featured in ‘The Frost Radar’
    Kochi, Jul 24: City-based Cyber Security Awareness service provider Security Quotient is one of the 16 companies globally and the only company in Asia to be featured in “The Frost Radar”.The “Frost Radar” is a rating system created by the renowned market research and analysis […]
  • Supreme Court to deliver judgement on telcos plea on AGR calculation
    The Supreme Court will on Thursday pronounce its interim judgement on the petitions of telecom companies like Bharti Airtel and Vodafone Idea seeking direction for correction of errors in Adjusted Gross Revenue (AGR) calculation. The court had reserved its order on the issue in the […]
  • Elevated inflation to persist for some months: RBI
    The Reserve Bank of India (RBI) has said the tapering of the Covid-19 second wave, coupled with an aggressive vaccination push, has brightened near-term prospects for the Indian economy, but inflation is likely to “persist at elevated levels for some months”. However, while several high-frequency indicators of […]
  • ED conducts searches against Videocon group, promoters in money-laundering case
    The ED conducted searches against the promoters of the Videocon group in Mumbai on Friday as part of a money-laundering probe linked to the alleged siphoning of bank loan funds in connection with the financing of the oil and gas assets of the business house […]
  • Inflation To Persist At Elevated Levels For Some Months: RBI
    The Reserve Bank of India (RBI) has said the tapering of the Covid-19 second wave, coupled with an aggressive vaccination push, has brightened near-term prospects for the Indian economy, but inflation is likely to “persist at elevated levels for some months”. However, while several high-frequency indicators of […]
  • WPI inflation eases to 12.07 per cent in June; food, crude prices soften
    The wholesale price-based inflation eased marginally to 12.07 per cent in June as crude oil and food items witnessed some softening in prices. However, WPI inflation remained double-digit for the third consecutive month in June, mainly due to a low base of last year. WPI […]
  • Centre Hikes DA From 17% To 28% For Central Government Employees
    THE CABINET on Wednesday approved an 11 percentage point hike in Dearness Allowance (DA) and Dearness Relief (DR) for central government employees and pensioners effective July 1. With this, the new DA rate will be 28 per cent, up from 17 per cent. The DA […]
  • S&P Affirms India’s Sovereign Rating ‘BBB-’
    S&P Global Ratings has affirmed its lowest investment-grade sovereign rating at ‘BBB-’ and stable outlook for India maintaining that the country’s recovery will gain pace through the second half of fiscal 2022 and the following year. “The stable outlook reflects our expectation that India’s economy […]
  • SBI Customers Alert! State Bank of India says ‘don’t do this’ or you’ll loose financial data
    The State Bank of India recently warned the customers regarding bogus apps that could lead to massive losses if installed without due verification. The State Bank of India (SBI), India’s leargest lender, has warned its customers of fraudulent activities and has advised them to follow […]
  • E-way Bill Generation Shows Pick Up In Economic Recovery
    E-way bill generation for goods transportation has gathered pace in July, indicating a graded pick-up in economic recovery, as the impact of the second Covid wave wanes. In the first 11 days of July, the average daily e-way bill generation stood at 19.24 lakh, 5.6% […]
  • Favorable Monsoon Likely To Boost Farm Output And Maintain Crop Costs In Check
    Inflation pressures build up in India as wholesale inflation (WPI) has been rising for five months. The impact can be seen on surging commodity prices for a few months now. While RBI is expected to look through supply-driven inflation surge along with supply-side measures taken by the […]
  • Swift recovery expected due to limited impact of lockdown on economy: Survey
    India’s economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much, a CII survey said. About 60 per cent of CEOs participating […]
  • Economy Showing Signs Of Revival Due To Rapid Vaccination: Finance Ministry
    The Finance Ministry on Friday said the economy has started showing signs of revival from the impact of the second wave of the COVID-19 pandemic on the back of targeted fiscal relief, monetary policy and a rapid vaccination drive. “The broad-based economic relief package, extended to mitigate the […]
  • MSMEs Experience A Dent In Their Financial Performance; Large Corporates Gain From Low Rates
    The operating profitability of companies rose in the pandemic year 2020-21, reversing the prior two-year trend of falling profits, even as the impact on profitability and debt repayment capacity has been varied depending upon the size of the firms. Large firms made good use of low-interest rates, […]
  • Government Brings The Department Of Public Enterprises (DPE) Under The Finance Ministry
    As part of the divestment strategy for the financial sector, the government has decided to go for a mega initial public offering (IPO) of Life Insurance Corporation of India (LIC) and residual stake sale in IDBI Bank during the financial year beginning April. The government […]
  • GST Collection For The Month Of June Fell Below Rs 1 Trillion For The First Time
    Goods and Services Tax (GST) collections for the month of June fell below Rs 1 trillion for the first time in months, government data released on Tuesday showed. The gross GST revenue collected in the month of June is at Rs 92,849 crore. The collection dropped […]
  • India’s Services Sector Activities Contracted Further In June Due To Covid Crisis
    India’s services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new […]
  • CERC Allows BSES To Exit Power Purchase Deal With NTPC
    The Central Electricity Regulatory Commission (CERC) has allowed BSES to walk out of a power purchase agreement (PPA) with the NTPC Ltd’s Dadri-I thermal power plant, in a first-of-its-kind order that will help Delhi’s largest power discom save at least Rs 35 crore per month. […]
  • India’s Manufacturing Sector Activities Contracts In June; First Time In 11 Months: Survey
    India’s manufacturing sector activities contracted for the first time in 11 months in June as rise in coronavirus cases and strict containment measures adversely impacted demand as well as resulted in job losses, a monthly survey said on July 1. The seasonally-adjusted IHS Markit India […]
  • Finance Ministry: GST Reduced Tax Rate, Increased Compliance; 66 Cr Returns Filed
    Under GST, businesses with an annual turnover of up to ₹40 lakh are exempt from the tax. With Goods and Services Tax regime completing four years, the Finance Ministry on June 30 said more than 66 crore GST returns have been filed so far and […]
  • Decline In Gold & Currency Assets Pull Forex Reserves Off Record High
    Sliding from the life-time high recorded a week ago, the forex reserves declined by $4.148 billion to reach $603.933 billion for the week ended June 18 on account of a fall in gold and currency assets, as per data from the Reserve Bank of India […]
  • Jet Airways CIRP ends, 7-member panel to manage day-to-day ops
    With the approval of the National Company Law Tribunal (NCLT) to the resolution plan of Kalrock-Jalan consortium, the Corporate Insolvency Resolution Process (CIRP) of Jet Airways has concluded. As per the plan, a monitoring committee will be set up to oversee the implementation of the […]
  • Indian economy poised for recovery in FY22, says SBI Chairman
    Although the second wave of the Covid-19 pandemic again brought businesses and economic activities to a standstill, Chairman of the State Bank of India (SBI), Dinesh Kumar Khara has expressed hope that the country’s economy would recover in the ongoing financial year. The Chairman noted […]
  • Ravi Shankar Prasad launches e-filing portal of the Income Tax Appellate Tribunal
    Law Minister Ravi Shankar Prasad on Friday launched the e-filing portal of the Income Tax Appellate Tribunal (ITAT) here, saying the initiative should be seen as a larger narrative of transformation the country is undergoing through the digital medium. The ‘ITAT e-dwar’ portal will enhance […]
  • Shares worth Rs 5800 crore sold, ED says 40 pc of loss in PNB, Mallya bank fraud cases recovered
    About 40 per cent of the money lost by banks in alleged frauds perpetrated by fugitive businessmen Nirav Modi, Mehul Choksi and Vijay Mallya has been recovered so far, the Enforcement Directorate (ED) said after the sale of attached shares worth over Rs 5,800 crore […]
  • Net Direct Tax collections for 2021-22 grow by almost 100%
    The net direct tax collection has doubled to over Rs 1.85 lakh crore so far this fiscal, mainly driven by personal income tax and advance tax mop up, the I-T department said on Wednesday. The net direct tax collection also includes corporate income tax (CIT) […]
  • Get Ready To Pay More For ATM Transactions
    Banks are also allowed to raise interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centres New Delhi: In a latest move that will have a bearing on the […]
  • ED Issues Notice For Crypto Transactions
    WazirX is an India-based cryptocurrency exchange which allows its customers to trade in digital currencies. New Delhi: The famous cryptocurrency exchange WazirX, along with its directors Nischal Shetty and Sammer Hanuman Mhatre experienced a big blow on Friday in the form of a show cause notice […]
  • Tax Exemption Of Covid Related Goods
    Finance Minister Nirmala Sitharaman will chair the 44th meeting of the Goods and Services Tax (GST) Council today which is expected to take a decision on relief in respect of COVID-19 related items. New Delhi: Union Minister Nirmala Sitharaman will chair the 44th GST Council meeting […]
  • Jio named world’s strongest
    Telecom and digital communications major Reliance Jio is the strongest brand in India, according to the latest report on Indian brands by Brand Finance. Telecom and digital communications major Reliance Jio is the strongest brand in India, according to the latest report on Indian brands […]
  • Adani Group plans to launch IPO
    The Adani Group is planning to hive off its airport business from the holding company Adani Enterprises. The Adani Group is planning to hive off its airport business from the holding company Adani Enterprises. According to media reports, the plan is to list the airport […]
  • BharatPe acquires loyalty Payback
    Payback India – launched in 2010 – is a multi-brand loyalty programme with over 100 million members in the country. It has a network of more than 100 offline and online partners and allows its customers to earn and redeem points on every transaction at […]
  • RBI’s to transfer Rs 99,122 cr as surplus to Centre
    Reserve Bank will transfer Rs 99,122 crore as surplus to Centre for nine months ended March 31, 2021. The decision was taken at the 589th meeting of the Central Board under the chairmanship of RBI Governor Shaktikanta Das, through video conference. According to the RBI, the […]
  • SBI Q4 profit jumps 80 pc to Rs 6,451 crore as bad loans situation improves
    SBI had earned a profit of Rs 3,580.81 crore during the January-March period of 2019-20, the lender said in a regulatory filing. The country’s largest lender SBI on Friday reported an 80 per cent surge in standalone net profit at Rs 6,450.75 crore for the […]
  • Sovereign Gold Bonds 2021-22: Series I subscription to start from May 17
    The Reserve Bank of India will issue Sovereign Gold Bonds on behalf of the Government of India. The first tranche of Sovereign Gold Bonds 2021-22 will be open for subscription for five days from Monday, the Finance Ministry said in a statement. The bonds will […]
  • Bill and Melinda Gates announce divorce after 27-year of marriage
    Billionaire Philanthropists Bill and Melinda Gates have announced separation in a joint statement, putting an end to their 27-year of marriage.  “After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the […]
  • Income Tax Compliance Deadlines Extended Amid New COVID-19 Wave
    n order to provide relief to taxpayers amid the second wave of COVID-19 in the country, the government has extended various Income Tax compliance deadlines, under the Income Tax Act 1961. In a circular issued on Saturday, May 1, the Central Board of Direct Taxes […]
  • Zomato to launch Rs 8,250 crores IPO
    Zomato is set to launch its initial public offering in the upcoming weeks. The food delivery startup has filed preliminary papers with market regulator Securities and Exchange Board of India (SEBI) regarding its IPO. Zomato has filed the draft red herring prospectus for a $1.1 […]
  • E-commerce giant Flipkart will attain online travel technology company Cleartrip
    An articulation from Flipkart on Thursday said that it’ll acquire 100 per cent of Cleartrip’s shareholding, as the company further enhances its investments to strengthen its digital commerce offerings for customers .Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart . […]
KSHVID COVID-19 Updates