New Delhi (1 Min Read): Even though India’s economic recovery accelerated in Q2FY21 from the lows of the pandemic-induced lockdown, the country for the very first time since Independence entered into a technical recession. The National Statistical Office (NSO) data on Friday showed that the Q2FY21 GDP on a year-on-year basis contracted by (-) 7.5 per […]
Category: Business
Motor insurance premiums revive on festive auto sales jump
New Delhi: The pick up in auto sales during the festive season has revved up the business of insurers with motor premiums increasing 3 per cent yoy in October 2020. Motor premiums were down for most part of the current fiscal and it fell 4 pet cent yoy in 2QFY21. There has been a flurry of […]
Delhi HC seeks Centre’s response on plea challenging E-Commerce Rules
New Delhi: The Delhi High Court on Monday issued notice over a petition challenging the certain sections of the E-Commerce Rules which mandates e-commerce entities to incorporate as a company. A division bench of the High Court presided by Justices D.N. Patel and Prateek Jalan sought response from the Central government and others over a plea […]
Petrol-diesel prices increase after almost 2-month break
New Delhi: Oil marketing companies (OMCs) on Friday raised the retail price of petrol and diesel after a break of almost two months when auto fuel prices remained static on Covid affected global oil market. The price of petrol has increased by 17 paisa per litre in the national Capital to Rs 81.23 from Rs 81.06 […]
India’s retail inflation rises to 7.61% in October
New Delhi: India retail inflation rose in October with the Consumer Price Index (CPI) at 7.61 per cent compared to 7.27 per cent in September. The CPI for the month of September was however, revised to 7.27 per cent from 7.34 per cent. Rise in food prices lifted the retail inflation higher. The Consumer Food Price […]
FM announces new employment scheme with EPFO support for 2 years
New Delhi: Union Finance Minister Nirmala Sitharaman on Thursday announced ‘Atmanirbhar Bharat Rozgar Yojana’ to incentivise creation of new employment opportunities during the Covid-recovery phase. The employment scheme effective from October 1 will be applicable to eligible new employees joining the EPFO-registered establishments and for those who exited these concerns during the COVID pandemic (March 1-September […]
Azim Premji tops EdelGive Hurun India Philantrophy List 2020
Mumbai: Wipro’s Founder Chairman Azim Premji and his family have topped the EdelGive Hurun India Philanthropy List 2020 with contribution of Rs 7,904 crore. The Founder Chairman of HCL Technologies, Shiv Nadar, and his family ranked second, followed by richest Indian Mukesh Ambani, the Chairman of Reliance Industries (RIL), in the third spot. Nadar and his […]
Tariff hike likely, telcos may seek to raise ARPU by 25% over 6-12 months
New Delhi: Telecom companies may push their average revenue per user (ARPU) higher by 25 per cent over the next 6-12 months to achieve a sustainable return on capital employed (RoCE) of 10 per cent, said a Crisil report. The report noted that though operators went for a significant tariff hike in December 2019, intense competition […]
Asked banks to pay difference in interest to borrowers: RBI to SC
New Delhi: The RBI has informed the Supreme Court that it has asked the banks, and financial institutions as well as the non-banking financial institutions to take “necessary actions” to credit the accounts of eligible borrowers, by November 5, with the difference between compound and simple interest collected on loans of up to Rs 2 crore […]
Centre to invite Air India bids based on enterprise value
New Delhi: In an aggressive push to off-load its stake in the national carrier, the Centre has decided to invite bids for Air India based on the company’s enterprise value. Notably, the change in criteria will allow for the bidding to take place on the current value of the assets and other resources of Air India. […]