Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
With the cricket World Cup mood building up, bookies and punters across India have taken their positions. Sources involved in betting, who did not want to be identified, fearing police action, estimate a turnover of about Rs 10,000 crore (Rs 100 billion).
GE Healthcare has already filed five global patents for its design.
Indian banks would require additional Rs 8 lakh crore to meet the minimum capital adequacy under Basel III norms, ratings agency Crisil has said.
The airline is operating the flight AI-9801 with a 70-seater Canadian Regional Jet aircraft, which on Tuesday had an occupancy of 50 from Delhi.
India's plant-based meat market is estimated at $30-40 million, largely driven by consumer packaged food. The market size in India is likely to touch $500 million in three years.
The data shows the average room rate of two-star hotels increased by 8.5 per cent in FY18, even though it lagged on occupancy at 61.8 per cent, down 1.4 per cent year-on-year
A positive trend of recruitment was witnessed in smaller towns and mini-metros during the April-June period of 2011 on the back of increased hiring in sectors such as engineering and manufacturing, says a survey.
IT and BPO companies are looking at tier II locations in the country to support global delivery.
A Northern California-based aerospace company has unveiled the smallest drone yet that can carry weapons behind enemy lines.
AirAsia India, which started operations on June 12 2014, had a market share of 6.2 per cent of the domestic traffic in April.
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
Crisil reaffirmed its 'AAA' rating, which reflects the highest degree of safety with regard to timely payment of financial obligations, on the bank's Upper Tier II bonds, Tier I Perpetual bonds and bonds/debentures. Crisil expects the bank's market position to remain strong despite moderating advances growth, because of the 580 new branches it is likely to add in 2009-10, and its wide presence across segments.
Kellogg claims to have cornered 70 per cent market share of the breakfast cereals market in value terms.
Kolkata excels in business performance with employee headcount and number of engineering students doubling in the last five years.
The company currently has slightly less than 3,000 people in India.
Good command of written and spoken English will become one of the most sought after qualities in the Indian manager of the future.
The real estate portal stated that it conducted a nationwide online survey christened 'Realty Trends 2010' for metros and Tier II cities across the country, which saw participation from over 4,800 property seekers.
Full-fledged operations will soon start in Trivandrum, Coimbatore, Vijaywada, Vishakapatnam, Lucknow, Jaipur, Ludhiana, Chandigarh, Patna, Siliguri, Rajkot and Surat. Medybiz' current network across 10 cities include Mumbai, Delhi, Bangalore, Kolkata, Chennai and Ahmedabad said a release.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
World's largest ice cream chain Baskin Robbins is planning to enter tier II and tier III cities as part of its expansion.
They want FSI to be in line with export benefits for the sale of residential properties to NRIs and foreigners.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
No major relief for airlines from the Budget.
An analysis of the National Housing Bank's Residex shows from 2007 to now, almost all tier-II cities have seen their residential property prices appreciate by 45-120 per cent.
The pandemic and social distancing have forced umpteen changes in our lives. The way people date is yet another one of them.
Fintech players are customising solutions for rural markets and helping SMEs learn how to use the services
Solar-powered phones, triple SIMs - tech-savvy citizens in rural India want it all, and are receiving it, too, from domestic brands.
United States-based quick service restaurant chain Domino's Pizza on Thursday said share of India in its global revenue would increase substantially in the near future and that the country would become one of its top five revenue garners within three years.
Interim pension regulator PFRDA will launch from December this year its savings scheme, which aims to give greater returns on the deposits, and can be withdrawn fully.
US car maker Ford on Tuesday said it will phase out its hatchback 'Fusion' from the Indian market, as it gets ready to launch the small car 'Figo' next month.
The Chicago-headquartered firm currently has 32 hotels across 20 destinations under its eight brands in India. The eight brands under the Hyatt portfolio in India are -- Hyatt, Hyatt Centric, Hyatt Regency, Hyatt Place, Park Hyatt, Grand Hyatt, Alila and Andaz.
The current slump in the automobile sector has delivered a hard knock to component makers -- classified as small and tiny enterprises -- as about 600 manufacturing units in Jamshedpur have shut down operations, while more than 2,000 other units spread across the country are on the verge of closure.
From mass layoffs to acquisitions, here's how the Indian start-up industry kept us on our toes.
The car is expected to hit the road on October 23 and is being launched as Hyundai celebrates two decades in the country. Industry sources say that it will be priced at Rs 3,70,000 to stay competitive with its biggest competitors, Tata Tiago and Maruti Suzuki Celerio.
Videocon, Philips and Godrej are reworking strategy to grow their small appliance business. Last year, their focus was on high-end products. This shift to the low-end segment, they believe, will help them maintain their sales growth from Tier-II & Tier-III cities, while simultaneously helping them penetrate into rural areas. Home appliances account for over Rs 50 billion of the Rs 320 billion consumer durable business and is growing at a rate of 10-12 per cent.
The Audi mobile showroom will tour 30 cities over the next two years.
Cotton County, ready-to-wear apparel brand unveils it's Spring Summer' 07 Collection of men's casual wear, semi-formals and attitude wear.
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