Category Archives: Economy

Infosys Chief Finance Officer MD Ranganath surprisingly resigns

Chief Financial Officer MD Ranganath made a shocking resignation to Infosys Ltd. to pursue “professional opportunities in new areas”. He will remain CFO until November 16. The board of Bengaluru-headquartered Infosys said in a stock exchange filing on Saturday it had accepted the resignation of CFO MD Ranganath, appointed to the post in 2015. The resignation […]

Centre unlocks Rs.66000 crore to increase forest cover

After two years of enacting law, the Central Government has finally approved Rs.66000 crore to increase forest cover of the country and has also notified the regulations to the states and Union Territories for utilising the fund. The centre has also set up the authorities to monitor its use for afforestation and conversation. The fund […]

Government hikes import duty on textile products

The Centre Government on Tuesday raised import duty to 20% on around 328 textile products (including garments, scarves, baby garments, pyjamas, and carpets) as a part of its strategy plan to support the ‘Make in India’ initiative and domestic manufacturers. The import duty hike will make the imported products costlier, as a result of which, […]

Andhra Pradesh Govt to inaugurate first thermal battery plant

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Monday announced to inaugurate the first ever thermal battery plant in the state. The batteries will be manufactured by India-based Bharat Energy Storage Technology Private Limited (BEST) Company and will start producing the thermal batteries from May 2019. This is first of its kind plant aimed at […]

Banks collect Rs.5000 Crores in FY 2017-18 for minimum balance penalties

According to the banking data, 21 public sector banks and three major private sector banks have collected around Rs.5000 crores as minimum balance penalty from customers for the financial year 2017-18. Of which, State Bank of India has accounted for more than half of penalty amount of Rs.2434 crore. Top five banks in the list […]

Vivo Carnival Flash Sale: NEX and V9 for just Rs.1947

Chinese Smartphone maker Vivo has announced its three-day Independence Day Freedom Carnival Sale in India from August 7 to 9. This 72-hour sale marks the 72nd Independence Day. As a part of the sale, the company is offering heavy discounts on its flagship models (Vivo NEX and Vivo V9) along with exciting cash back deals […]

Senses surges over 200 points, NIFTY above 11300

Strong global cues upsurged the domestic share markets on Friday, the last trading day of the week. The Sensex opened at 37327.16 while Nifty50 at 11297.80. The Sensex opened at 0.77% to 37449.53, while the Nifty50 at 11333.55 with a profit of 88.85 points, i.e. 0.79%. The top gainers in the 30-share Sensex pack were […]

RBI hikes key rate to 6.50%, EMIs may get costlier

The Reserve Bank of India (RBI) on Wednesday hike REPO rate following its August monetary policy meet. Headed by Governor Urjit Patel, Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50%. The MPC also raised the key rate by 25 bps in June. Commenting over the MPC’s decision, RBI mentioned […]

Huawei pulls ahead of Apple, becomes second largest smartphone seller

The Chinese smartphone maker Huawei becomes the second largest smartphone seller ahead of Apple. Powered by its flagship P20 model and the growth of its sub-brand Honor in markets like India, Huawei tech giant sold 54 million handsets with 41% up from last year. Huawei has surpassed Apple to become the second largest smartphone vendor […]

Infosys to Set Up Software Development Center in Noida

Infosys, the second largest Indian IT giant company, on Sunday announced to invest Rs. 750 crores ($ 109 million) in the first phase to build a software development centre of 2.7 million square feet in Noida, Uttar Pradesh that can accommodate 5,000 staff. Chief Executive Officer (CEO) and MD of Infosys, Salil Parekh said, “The […]