Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' wholly-owned listed subsidiary, is eyeing partnerships to offset recurring costs incurred in train operations, which is part of its two-year-old diversification from core catering and ticketing businesses. To this end, it is courting public sector undertakings such as Bharat Heavy Electricals (BHEL) and others to create a special purpose vehicle for the routes for which IRCTC has bid. The Railway ministry opened bids for public private partnerships in passenger train operations in July 2021 and received bids to operate 29 pairs of trains with around 40 modern rakes that would entail an investment of Rs 7,200 crore.
Job postings activity in April witnessed 3 per cent decline sequentially as the country is hit with the second wave of the pandemic leading to lockdowns, according to a report. The data indicates that the employment index saw a decline in job posting activity in April compared to March, by 3 per cent, according to the Monster Employment Index. The overall job postings also witnessed a decline of 4 per cent year-on-year as of April 2021, compared to April 2020.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
Others taxed at 5, 12, 18, 28%
Cover inadequate for even one refinery.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
Buying online insurance is hassle-free and saves on premium paid too. These seven myths discourage you from buying insurance online. Beware!
Job postings declined on an annual basis in September but witnessed a marginal uptick compared to August this year, a report said on Tuesday. There was a fall in job postings in various sectors, including media and entertainment, home appliances, shipping and marine, IT and BPO/ITES compared to September 2021. For September 2022, the Monster Employment Index (MEI) showed that there was a 4 per cent decline in hiring activities on an annual basis but a 1 per cent rise on a month-on-month basis.
The GST intelligence unit detected tax evasion of more than Rs 1.98 lakh crore last year and arrested 140 masterminds who were involved in defrauding the exchequer, the finance ministry said on Thursday. In 2023, the Directorate General of GST Intelligence (DGGI) detected significant GST evasion in diverse sectors like online gaming, casinos, insurance and secondment (import of manpower services). "DGGI has achieved an increase in detection of cases of evasion and voluntary payments. In 2023, DGGI detected 6,323 cases involving evasion of duty of Rs 1,98,324 crore with a voluntary payment of Rs 28,362 crore.
Ujjivan Small Finance Bank's initial public offering attracted heavy investor demand on the final day of bidding on Wednesday as the issue was subscribed a whopping 126.36 times.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Reliance Capital Ltd (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital's assets, taking the total number of bids to 70, the sources said.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
Irdai to allow 12 minor changes including expansion of critical illness and day care procedure lists, premium payment in instalments, change sum assured, etc.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
A travel insurance plan can help protect your dream holiday from turning into a nightmare.
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Foreign investment cap in insurance sector raised to 49 per cent.
Mutual funds' average cash holdings in equity schemes topped 6 per cent in February as fund managers went slow on deployment of new inflows on expectations of better buying opportunities amid uncertainties in the market.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
Mukesh Kumar, Executive Director HDFC ERGO General Insurance Company, tells you how you can benefit by doing so
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
This will be the largest claim in the aviation sector for Indian insurers in the last three years
Some planners sell dreams and deliver nightmares. Look before you leap!
Govt is using Census 2011 as basis for charting out its financial inclusion plan.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
GST will now apply to mutual funds, loan instalments and credit card dues.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
The India-origin chief of The Hartford Financial Services, Ramani Ayer, will retire as chairman and chief executive officer of the Connecticut-based insurer by the end of this year.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
Insiders enable 61% of frauds financial services hit the worst.
Reinsurance is a cover that insurers take to transfer their risks to a third party.
Research well all the ifs and buts carefully before accepting such policies.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
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