Category Archives: Economy

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 […]

L&T’s net profit raised by 36% for the Q1

Reportedly, the net profit of infrastructure giant, Larsen & Toubro (L&T) rose to 36% worth Rs. 36,142 crores for the June quarter (Q1). The net profit is mainly driven by domestic projects making record consolidated Gross Revenue of Rs. 28,283 crores for the June quarter by registering a growth of average 18% every year. International […]

Banks and Financial Institutions Signed Inter Creditor Agreement

Bank and financial institutions including 22 public & 19 private sector banks, 32 overseas banks, and 12 major financial institutions signed the inter-creditor agreement (ICA) on Monday aimed to speed up the resolution of stressed assets of Rs. 50 crores or more which are under consortium lending. The major banks and financial institutions in the […]

0% GST on Sanitary Napkins, Piyush Goyal announced

Central Government has withdrawn a controversial tax on sanitary napkins following a vocal campaign leg by social activists to encourage women education and empowerment. Last year, Arun Jaitley argued that if the GST for sanitary napkins is lowered to 0%, ‘there would be no Indian manufacturer left’. On Saturday, the Goods and Services Tax Council […]

LIC approves to acquire 51% stakes in IDBI Bank

The board of Life Insurance Corporation on Monday approves to invest more than Rs.12000 Crores for 51% stakes in IDBI Bank Ltd to become the largest shareholder of the bank. LIC has been looking to take step in the banking world by acquiring a majority stake in IDBI Bank. The main idea of this deal […]

Mukesh Ambani becomes Asia’s richest man, topples Jack Ma

The Chairman of India’s refining-to-refining conglomerate, Mukesh Ambani overtook Jack Ma, founder of Alibaba Group, to top the list for Asia’s richest person. A day later entering the $100 billion m-cap club, Reliance Industries Ltd. (RIL) stock continued its rally on Friday to breach the 7 lakh crores market valuation, according to Bloomberg Billionaires Index. […]

Home Minister Rajnath Singh Visits Bangladesh today

Indian Home Minister, Rajnath Singh heads to three-day visit to Bangladesh today to discuss on how to strengthen the mutual cooperation in preventing terrorism and other such issues including radicalization of youths by terror group, Anti-terror Corporation, cattle smuggling, border concerns, fake currencies, and Rohingya refugees. On Saturday, Rajnath will meet to Bangladesh Prime Minister […]

Vishakhapatnam: Nitin Gadkari to Launch Development Project Today

Union Road Transport & Highway, Shipping and Water Resource Minister Nitin Gadkari will today launch various development projects costing around Rs. 3,685.35 crores at Vishakhapatnam under the Sagarmala and Bharatmala Projects. Under this project, he will inaugurate two new post Panamax Rail-Mounted Query Cranes and allied equipment at Vishakhapatnam Container Terminal Private Limited. Gadkari is also […]

India to lose special privileges from Iran on Crude Oil imports

Iran on Tuesday criticized India for not keeping its promise of making investments in development of the strategically situated Chabahar port in New Delhi and said the country will stand to lose “special privileges” if it ends import of oil services from Iran. Deputy Ambassador of Iran Massoud Rezvanian Rahaghi said, “Iran will end the […]

PM Modi inaugurates World’s largest cellphone factory

Prime Minister Narendra Modi inaugurates the world’s largest cellphone manufacturing unit by South Korea based Samsung on Monday. South Korean President Moon Jae-In also marked his presence at the inauguration in Noida. The unit is proposed to have manufacturing capacity of 120 million phones, from its basic cell phones to Samsung’s flagship S9 model, per […]