Government introduces Bill to check ponzi schemes in Lok Sabha
The Banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance on the same.
India’s Gen Z puts travel above material possession
From Oct 1, enter Russia on free e-visa up to 8 days
The iron curtain is fast making way for a red carpet. Russia is increasing the number of entry points from where foreign visitors, including Indians, can enter the country on a free e-visa and stay there for up to eight days.
Rating firms colluded with IL&FS executives: Audit
A forensic audit on credit rating agencies has pointed to massive irregularities by top IL&FS executives in obtaining favourable ratings, with allegations that the agencies did not change the ratings despite knowledge of stress in the group, and colluded with the beleaguered entity’s management.
Mukesh Ambani keeps salary capped at Rs 15 crore
"Compensation of Mukesh D Ambani, chairman and MD, has been set at Rs 15 cr, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," Reliance Industries said in its annual report. Ambani has kept salary, perquisites, allowances and commission together at Rs 15 cr since 2008-09, forgoing over Rs 24 cr per annum.
Jio becomes India's 2nd largest mobile operator
Reliance Jio, the newest entrant in the telecom sector, has piped Bharti Airtel to become the second-largest mobile operator with 32.29 crore subscribers and 27.80 per cent market share in May, according to regulator Trai's data. Bharti Airtel launched its services way back in 1995 while Reliance Jio stormed the sector in 2016 with disruptive voice, data offerings.
Slowdown doesn’t bite these SUVs
Amid a slowdown in the auto industry, a new set of products buck the trend. MG Motor's premium SUV Hector has managed to get bookings of over 21,000 units since its launch on June 27. Kia SUV Seltos got over 6,000 bookings on the first day of launch. SUV XUV3OO has managed to sell over 25,000 units since Jan. Indian buyers' preference for offroaders stays strong.
IndiGo reports highest ever profit in June quarter
IndiGo has reported the highest ever quarterly profit for an Indian carrier at Rs 1,203.1 crore for the April-June, 2019, thanks largely to rise in airfares post Jet shutdown. The Q1, FY 2019-20 profit is a massive 4,229% higher than Rs 27.8 crore profit in same quarter last fiscal and this leap comes amid a bitter and raging feud between the airline’s co-founders Rahul Bhatia and Rakesh Gangwal.
Oyo founder to triple stake to 30% in startup
Plugging these small leaks in your money box can result in big savings
The things mentioned here does not in any way impact your lifestyle or convenience, but can together save you lakhs of rupees.
Sensex crashes 560 points; Nifty ends below 11,450
Equity indices finished the week on a lower note with the benchmark BSE sensex plunging more than 550 points as auto and financial stocks witnessed heavy losses. Sensex crashed 560 points or 1.44 per cent to end at 38,337 on Friday; while the broader NSE Nifty moved 178 points or 1.53 per cent lower to settle at 11,419.
Good time to allocate a portion of your funds to gold: Chirag Mehta of Quantum Mutual Fund
​​There is a good chance that the global economy will enter into a recession within the next 1-2 years.
China asks India to joint fight against unilateralism, protectionism
China has said it values India's concerns on the bilateral trade imbalance and is willing to discuss new approaches to address the issue and asked New Delhi to join Beijing in its fight against "unilateralism and protectionism" amidst a bruising trade war with the US.
Dabur elevates Amit Burman as chairman
HDFC Bank net profit rises 21% to Rs 5,568.16 cr
Private lender HDFC Bank on Saturday posted a net profit of Rs 5,568.16 crore for the first quarter, ended June 30, 2019, up 21 per cent against Rs 4,601.44 crore posted in the same period last year. On quarterly basis, the bank reported a loss of 5.38 per cent in Q1 in comprison with the fourth quarter ended March 31.
Can standalone OD car insurance policy remain valid if third-party insurance expires earlier?
What if the new vehicle owner does not renew the standalone OD policy on expiry of the previous 1-year OD policy but buys a new OD policy after a time gap?
Office space leasing hits record 31.8 mn sq ft in H1; attracts USD 1.5 bn capital: CBRE
Strong demand for office space and sustained rental growth continues to attract both institutional investors and developers.
A lot of demat accounts being opened from small towns and tier 2 & 3 cities: Nikhil Kamath, Zerodha
We are seeing a lot of new people in 25-35 age group in Rs 5-15 lakh salary bracket entering the market.
Lok Sabha passes Finance Bill 2019
Several members have asked the government to reduce hike in customs duty on newsprint saying it would badly hurt the small and medium newspapers.
Are overnight mutual fund schemes a good choice for ultra conservative investors?
Many debt mutual fund investors wanted to shift from liquid funds to overnight funds after a series of downgrades hit liquid funds.
E-tolling mandatory across national highways from December this year
In a letter sent to the NHAI, the highways ministry has asked for conversion of all toll lanes at all national highways to 'FASTag lanes'.
AI pays salary to official not in rolls, sends notice
Debt-ridden carrier Air India has issued a show-cause notice to Captain Atul Chandra who was wrongly paid a gross salary of Rs 2.8 cr for years he wasn’t working for AI. Captain Chandra had received salaries both from the DGCA, the organisation he worked for, and AI, the company he used to work for. Chandra has disputed the amount quoted by AI and has returned Rs 80L.
No compromise on passenger safety: Puri
Union civil aviation minister Hardeep Singh Puri on Saturday said there would be no compromise on the safety of passengers and stressed that the narrative that airfares were shooting up was wrong.
8 routes under UDAN scheme have become functional since Friday: Aviation ministry
Why one should book profit in CPSE ETF within 6 months
The offer is open for retail investors for a day on July 19.
RIL profit rises 6.8% in June quarter
Oil-to-telecom major Reliance Industries (RIL) on Friday reported a 6.8 per cent growth in consolidated year-on-year profit. RIL's profit in June quarter stood at Rs 10,104 crore from Rs 9,459 crore posted in the same quarter previous year, the company said in a notification to exchanges.
IL&FS crisis impact: Mutual fund holdings in CPs slump 25%
Highest ever holding of MF in corporate bonds was in September 2017 at Rs 6.61 lakh crore.
No change in ITR forms, only utility software updated: CBDT
CBDT issued a statement saying the updating process of these forms' utility software does not hamper the filing of returns, the deadline for which is July 31.
Gifts IL&FS gave for ratings: Real Madrid tickets
From tickets for a Real Madrid football match and hefty discounts on a luxurious villa to a Fitbit watch and shirts, a probe into the high-profile IL&FS scam has found numerous cases of favours and gifts extended by the erstwhile top management to senior officials of rating agencies and their family members.
Aditya Birla Idea Payments Bank to close operations
How a Persian Gulf conflict could impact commodities markets
A lengthy conflict in the Persian Gulf could tip economies into recession and even accelerate the move away from fossil fuels. In case of a full regional conflict, the oil will rise past $100 a barrel, if there are only limited strikes, oil might set at $80, analysts said. Japan, India and South Korea would be some of the most vulnerable economies to a Persian Gulf war.
IndiGo to seek shareholders' nod for board expansion
Stocks pricey, mid- & small-cap funds prefer to hold more cash
Mid-cap funds received inflows of Rs 2,607 crore in the past three months.
No separate law yet to ban cryptocurrency in India: Anurag Singh Thakur
The minister’s response comes at a time when the Supreme Court is set to hear a case related to the ban on cryptobanking next week.
CPSE ETF opens for retail investors on Friday; is it worth investing?
Valuations and high dividend yields work in favour of CPSE ETF, said Anil Rego.