Category Archives: Economy

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 […]

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 […]