Bundled products often come with restrictions. The customer also gets locked into two products at the same time. This reduces flexibility.
The Karnataka government issued orders to implement the 'Gruha Jyoti' and 'Shakti' schemes.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
The Cabinet held a detailed discussion regarding the five guarantees and its implementation, and has arrived at decisions, Siddaramaiah who headed the meeting told reporters.
The country's largest lender State Bank of India (SBI) will revamp its banking application (app) YONO and position it as a complete digital bank (DB) under a new rubric 'Only YONO' for enhancing customer experience and ease of use. The bank plans to bring in a consultant to help draw up the project plan, keeping in mind business goals for the next five years. With 54 million monthly active users (MAUs), SBI YONO has seen growth of over 35 per cent in MAUs in 2021.
The country's largest carmaker Maruti Suzuki India (MSI) on Thursday said it has appointed Hisashi Takeuchi as the new managing director and CEO with effect from April 1, 2022. The company's board in its meeting held on Thursday, appointed Takeuchi as the managing director and CEO from April 1, consequent to the completion of the term of Kenichi Ayukawa on March 31, 2022, MSI said in a statement. In order to facilitate a smooth transition, Ayukawa will continue as a whole-time Director designated as Executive Vice Chairman till September 30, 2022, and will continue to provide guidance to the auto major, it added.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
Modi said whenever Congress came back, all development works came to a standstill.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
Walmart-owned Flipkart on Wednesday said it has eliminated all single-use plastic packaging used across its fulfilment centres in the country. With this, the e-commerce major has delivered on its public commitment to move to plastic-free packaging in its supply chain by 2021. This has been achieved across more than 70 facilities of Flipkart spread all over India, where it has eliminated single-use plastic packaging by introducing the most scalable sustainable alternatives, a statement said.
'The focus on easier access and faster delivery is creating a new consumption pattern that allows consumers to satisfy their last-minute cravings and restock essentials at the click of a button.'
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
India's consumer digital economy which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030, according to reports released by consulting firm RedSeer at its flagship event Ground Zero 5.0. The digital economy includes 60 per cent of travel, 40 per cent non-grocery retail, 30 per cent of education, 25 per cent of food and beverages services and 6 per cent of pharma/grocery going through digital channels by calendar year 2030. Online retail is set to become the third-largest market by scale by CY30 with an annual gross merchandise value (GMV) of $350 billion in CY30, said RedSeer.
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers, which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from $460 to $780, and L-1 from $460 to $1,385. The application fee for O-1 visas has been proposed to increase from $460 to $1,055.
The success story of Adani's Mundra Port in Gujarat, in terms of efficiency, technology and management, should be replicated at Vizhinjam to ensure that this ambitious project does not fail, say Shehzad Poonawalla and Riya Sinha.
Within 48 hours of coming to power, the Aam Aadmi Party government on Monday on its promise of supplying free water of 667 litres a day to each household but tempered it with a 10 per cent across-the-board hike in tariff.
Retail giant Walmart on Thursday said it is inviting select Indian sellers to join Walmart marketplace, a curated sellers community that serves more than 120 million US shoppers each month. India is already one of the top sourcing markets for Walmart and the retail major has set an ambitious goal of exporting $10 billion from India each year by 2027. "This initiative expands on over 20 years of Walmart's engagement with Indian exporters," said a statement from Walmart. Walmart is seeking new sellers from India as part of a global drive to attract international sellers and expand the marketplace's product assortment.
From omnichannel to AI and 3D technology, the fashion industry is in the middle of a digital revolution.
Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. The export plans will coincide with the commercial launch of the Curvve - an electric SUV concept that broke cover on Wednesday, in two years from now, Shailesh Chandra, MD, Tata Motors PVs and Electric Mobility, told Business Standard. "We are actively thinking of the international markets and we would like to go with a portfolio of products. "We have identified a few markets and in a couple of years, we should commence the same," said Chandra.
Jet Airways will be able to take to the skies once again, after aviation regulator DGCA on Friday granted it a revalidated air operator certificate, allowing the airline to resume commercial flight operations.
The country's largest carmaker Maruti Suzuki India on Thursday launched a new version of its multi-purpose vehicle XL6 as it gears up to bring a slew of new products this fiscal and take the challenges of prevailing uncertainties head-on. The new XL6 is powered by a 1.5-litre petrol engine with a peak power of 75.8 kW. It is available in manual and automatic transmission options, priced between Rs 11.29 lakh and Rs 14.55 lakh (ex-showroom). Speaking at the launch, newly appointed Maruti Suzuki India managing director and CEO Hisashi Takeuchi said, "With the uncertainties prevailing today, the business realities are continuously evolving.
There are 55 non-banking PPIs operational now, apart from 50 wallets promoted by banks.
Make sure that the person you are buying the plot from is the rightful owner.
The country's largest domestic budget carrier IndiGo on Wednesday announced the appointment of Pieter Elbers as its chief executive officer, replacing incumbent Ronojoy Dutta. Seventy-one year old Dutta, who came to helm the airline in January 2019, has decided to retire on September 30, after guiding the airline through the turbulent Covid period, IndiGo said in a statement. Elbers' appointment, which is subject to regulatory approvals, will be effective from on or before October 1, it said.
To create a community, the consumer can share the details of the offer with friends and family who want to buy the same goods.
Three years ago Kevin Rebello made a promise to his parents and sister-in-law. That he will bring his younger brother Russel home, alive -- and, as hopes faded with each passing day -- or dead. That promise was fulfilled February 22, 2015, when sailor Russel's mortal remains were buried in a cemetery, close to a place where the two brothers spent their childhood. Prasanna D Zore/Rediff.com reports how a family faced its worst moments.
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
The 'buy-now, pay-later' (BNPL) juggernaut continued to roll on during the festive season with multiple players seeing disbursals grow by more than 100 per cent compared to Diwali last year. LazyPay, the BNPL platform of Prosus-owned payments major PayU, witnessed a credit demand increase of 300 per cent over the festive season last year, especially in segments like travel, food & beverages and entertainment. "We also saw an uptick of 70 per cent in user acquisition in the last two months.
Russia has defaulted on the supply of at least 5 cargoes or shiploads of LNG to India after its retaliatory sanctions hit one of the companies that supply gas to India, sources said. India's largest gas firm GAIL has a long-term deal to import 2.85 million tonnes of liquefied natural gas (LNG) per annum from a Singapore-based unit of Russian gas producer Gazprom. The company has since June defaulted on the supply of 5 cargoes of LNG under that contract citing difficulty in sourcing gas due to sanctions, two sources briefed on the matter said.
Indian technology industry has a "big opportunity" despite global macroeconomic challenges, said Rishad Premji, chairman of IT services firm Wipro, on Wednesday as he spoke about how Covid-19 had changed work. "My confidence is driven by two things: the rapid pace of digitisation across the world, and the shift in the mindset of stakeholders who engage with us as an industry," said Premji in Bengaluru while addressing industry leaders and civil servants at the Invest Karnataka 2022, the state's Global Investors Meet (GIM). Businesses are using technology for customers and employees: a trend marked by the shift to cloud computing and leverage of data.
'Career paths are no longer linear as professionals look to build a more holistic career portfolio that is true to their professional and financial goals.'
The tribal leader, India's youngest president at 64 and the first to be born after Independence, took oath of office in the name of god to 'preserve, protect and defend the Constitution and the law'.
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 retails when compared to May 2019 reveal that sales are still not on a growth trajectory as overall retails were down by 10 per cent.
Mayank Goyal, founder and CEO, moneyHOP, will answer queries related to how to best manage your money while travelling internationally.
However, the government's draft policy on e-commerce companies has forced consumer companies to also adapt to the changes. For Dabur India, e-commerce channel continues to be a key driver of growth in urban India. The contribution of online sales to its entire portfolio is at six per cent compared to 1.5 per cent before the pandemic.
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