Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny link to govt.
This year, festive sales are expected to push up the annual gross merchandise value of e-commerce companies to around $38 billion, a 40 per cent growth over the previous year.
The Supreme Court has refused to interfere with the government and RBI's loan moratorium policy, and declined to extend the six-month loan moratorium period.
Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
The Orissa state government may soon recruit "bare foot managers" to provide various expert services to the micro, small and medium enterprises (MSMEs) in the state.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
The vehicle scrapping policy will offer about 5 per cent rebate to those buying new cars if they junk their old vehicles, Union Minister Nitin Gadkari said in Rajya Sabha on Thursday terming it a "win-win" situation. The voluntary vehicle scrapping policy announced in the Union Budget for 2021-22 provides for fitness test after 20 years for personal vehicles while commercial vehicles would require it after the completion of 15 years. "The 'Voluntary Vehicle-Fleet Modernisation Programme' or 'Vehicle Scrapping Policy' will offer a rebate of about 5 per cent to buyers on new car purchases in lieu of scrapping of the old.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
At 47 protests a day, the state has become the most restive in the country and investors are becoming increasingly wary
With Narayan Rane, the BJP looks to expand its footprint in Mumbai and Konkan. But a perceived self-goal by him may have galvanised the restive Shiv Sena cadre and voters to coalesce around their party. Dhaval Kulkarni reports
With the world's worst outbreak of COVID pandemic stalling a nascent economic recovery, the government has begun assessing the impact of the second wave of infections on different sectors and may look at providing support at an appropriate time to segments requiring fiscal help. Some of the economic indicators, including the Goods and Services Tax (GST) collections, still provide confidence and incoming data will throw some more light on the state of the economy, sources said. Services sectors like hospitality, tourism and aviation which had just started recovering were hit hard by the second wave of COVID, the sources said, adding these segments might need some support on an urgent basis from the government.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
Indicators show green shoots in the economy with electricity and fuel consumption, inter and intra-state movement of goods, PMI data and retail financial transactions witnessing a pick-up, she said.
Gadkari said that the MSME sector contributes significantly in pushing the country's economic growth and creating employment.
Fitch Ratings on Monday said the shock to economic activity from the latest wave of COVID-19 pandemic will be less severe than the one in 2020, but recovery is likely to be delayed as economic activity dropped in April-May. The global rating agency said there are growing indications that the latest wave of COVID-19 infections will add to risks among financial institutions (FIs) and anticipates that the Reserve Bank of India (RBI) may introduce additional measures to support the financial sector if indications of economic stress mount.
'When you don't have food to eat, will you be worried about the virus or the next meal?'
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
Ranju Sarkar finds out more about Nowfloats, the start-up that is used by 240,000 businesses that reach 13 million consumers.
The Congress leader said a 'storm' was brewing on the economic front that will cause damage and hurt many.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'The F-21's capabilities far exceed all other torpedoes currently in service.'
For a borrower, who has serviced his loan without missing any repayment, the banks will be willing to take over the loan, give a top-up, and would offer lower interest rates, says Tinesh Bhasin.
'There was already a cash crunch and this (lockdown) has created more trouble.'
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
The decision to procure the fleet was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi, Defence Minister Rajnath Singh said.
Rather than going through the tedious, hit-or-miss process of physically designing hull forms and superstructures for warships and then determining how visible they are to radar, the company will simulate this process on supercomputers.
He cited demonetisation, 'wrong' GST and the lockdown as three examples of government's attempt to destroy the informal sector, that provides 90 per cent jobs to people.
Survey calls for reorienting policies to promote young firms which have the potential to become big, rather than small MSME firms which remain small.
'If the government spends Rs 10 lakh crore this year then you would be looking at a GDP growth of minus 5 per cent.' 'If you do not do this, you will be looking at GDP growth between minus nine and minus 10 per cent.'
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
Sonia called for cancelling all public gatherings and poll rallies in view of the rising number of coronavirus cases.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The procurement will come at a cost of Rs 38,900 crore.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
Asserting that India has full potential to emerge as a global hub for electric vehicles by 2025, Union Minister Nitin Gadkari on Friday asked automobile manufacturers to reduce cost and forego profit initially to capture market and fuel growth. Once the market picks up there will not be any looking back, Road Transport and Highways and MSMEs Minister Gadkari said, promising all support to manufacturers in the initiative aimed at cutting India's huge import costs of crude and arresting pollution. The minister said he is scheduled to make an hour-long presentation on EVs before the Chief Justice of India post-Diwali.
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