The Ministry of Urban Development of Maharashtra has amended the Unified Development Control and Promotion Regulations (Unified DCPR) to allow the construction of 5% comfortable space in land parcels larger than 20,000 square meters and increase MHADA (Maharashtra Housing and Area Development Authority) Floor Space Index (FSI)) redevelopment projects and provided additional FSI for commercial business districts (CBD).
Fuel customer may get some respite from rising gasoline and diesel prices, because as the oil cartel OPEC reached an agreement to increase production to meet growing demand, the global oil situation is expected to slow in the next few days. The rise in Covid cases worldwide has made the oil market uncertain because it has the potential to quickly erode demand.
The Reserve Bank of India (RBI) stated that although the transmission of deposit and loan interest rates has improved significantly recently, several factors continue to hinder the effective transmission of currency to these bank interest rates. The RBI announcement in July 2021 pointed out that the central bank has repeatedly tried to improve the effectiveness of currency transmission by improving the process of setting bank interest rates.
Aadhya Gold Private Ltd, headquartered in Bangalore, submitted an application to the Authority for Advance Ruling (AAR), hoping to clarify whether the purchase of second-hand gold jewelry will only pay goods and services tax based on the difference between the sales price and the purchase price.
Delhi, Uttar Pradesh, Uttarakhand and Rajasthan, cancelled the annual pilgrimage for fear of a third wave of Covid-19. Yatra is also unlikely to be held in Bihar and Jharkhand. The Kanwar Yatra will not be held in Delhi this year because the Delhi Disaster Management Authority (DDMA) issued a notice on Sunday to cancel the annual pilgrimage for fear that it will lead to a possible third wave of the coronavirus pandemic.
Following the revision of the curfew time by the Uttar Pradesh government, the Noida Metro Rail Corporation (NMRC) decided to run trains on its Aqua Line between 6 am and 10 pm from Monday. Currently, the train service time is from 7 am to 8 pm.
Walmart's Flipkart should not be treated in the similar way as rival Amazon in an antitrust investigation in India because the evidence against the two companies is “different in quality”. Amazon as well as Flipkart have challenged the Competition Commission of India (CCI) in court to seek to revoke the Indian court's June decision to allow them to conduct antitrust investigations.
The Authority For Advance Rulings (AAR) Judge of Maharashtra believes that if the Co-operative Housing Society (CHS) collects maintenance fees from its members more than Rs., the Goods and Services Tax (GST) should be levied. 7,500 per month .
The Oil marketing companies (OMC) suspended the button on Sunday due to rising gasoline and diesel prices. In the capital, the price of gasoline was 101.84 rupees per liter, while the price of diesel remained unchanged at 89.87 rupees per liter. On Saturday, the price of gasoline rose by 30 paisa, while the price of diesel remained unchanged.
Approved the proposal to acquire a new venue for the Mangaluru branch of ICSI's SIRC. Approved the Gazette Notice regarding the election to fill a temporary vacancy in the Eastern India Regional Constituency (EIRC) of the 13th Council of the Institute.
LIC Housing Finance Ltd. said on Saturday that the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have asked the company to clarify its priority allocation of 2,334 crore shares to its parent company, Life Insurance Corp of India (LIC).
Due to regional or national holidays and weekends, some state banks will be closed for five days starting today (July 17). According to the holiday calendar of the Reserve Bank of India, banking employees in some states can enjoy up to 15 days of holiday in July, including a 5-day holiday beginning on July 17. In Dehradun, bank employees also enjoyed a holiday (Friday) on the occasion of Harela Puja on July 16th.
Sandeep Kataria, Global CEO of Bata Corporation, said that the COVID-19 pandemic may be the "most important" world event in our lives, undisputedly pushing the world economy and people back by 5-10 years.
Sashidhar Jagdishan, managing director and CEO of HDFC Bank, said on Saturday that HDFC Bank has met 85% of the Reserve Bank of India's technical requirements, and regulators are now discussing when to lift the ban on issuing new credit cards.
The vaccination bulletin issued by the Delhi government stated that the city has received more than 9.2 million doses of vaccine since the vaccination campaign began on January 16. On Friday, about 87,000 people in Delhi were vaccinated against the coronavirus, with less than a day's stock of vaccines available. According to official data, the city.
Amidst the cheers, applause and blessings from Indira Gandhi International Airport, athletes from eight events including archery, badminton, table tennis, hockey, judo, gymnastics, swimming and weightlifting boarded the flight to Tokyo.
HDFC Bank reported that the net profit for the quarter ended June 2021 was lower than expected, at 7729.6 billion rupees, an increase of 16.1% over the same period last year.The bank's net profit for the same period last year was 66.58 billion rupees, and its net profit for the quarter ended March 2021 was 8,186 billion rupees.
It turned out that the export market of Sarojini Nagar was extremely crowded, severely violated Covid-19 regulations, and did not maintain social distancing. While several instructions were issued from time to time to ensure that Covid acted appropriately, the market association still failed to with these instructions, so it has decided to close the Sarojini Nagar export market from July 18 until the order is placed.
There is no need to undergo any quarantine before the Olympics. The Indian shooters will start training on the field on July 19, and after arriving in Tokyo early on Saturday morning, they will be allocated rooms in the competition village.
Google community data shows that after the second wave of pandemic, the movement of people in most states has become diversified overall, thereby relaxing restrictions. Several studies, including a study by the Indian Council of Medical Research (ICMR), found that the third wave may hit India at the end of August. But a deeper study of the Covid data suggests that the third wave may have already hit India.
Reliance Retail, the merchandise arm of Reliance Industries Limited (RIL), will acquire a 66.95% majority stake in B2B search engine JustDial. After this transaction, Reliance Retail should be classified as a promoter of JustDial. According to the agreement reached between the two companies, VSS Mani will continue to lead Just Dial as managing director and chief executive officer.
The Ministry of Commerce on Friday solicited suggestions from stakeholders, including industry and trade associations, to formulate the next foreign trade policy (FTP 2021-26). FTP provides guidelines for the promotion of exports to promote economic growth and job creation.
HDFC Asset Management Company (AMC) reported on Friday that after-tax profit for the quarter ended June 30 increased by more than 14% to 3,45.45 billion rupees. The asset management company announced a profit after tax (PAT) of 302.36 crores. In the last fiscal quarter, HDFC AMC stated in the regulatory documents submitted to the stock exchange.
Reliance Industries Ltd, led by billionaire Mukesh Ambani, announced friday that its subsidiary, Reliance Retail Ventures Ltd, will acquire a majority stake in Just Dial at a price of Rs 3,497 crore, according to a notice from the exchange.
According to stock exchange data, Zomato's bid was 2,751.25 million shares, while the quotation was 71.92 million shares. This IPO is India's largest IPO since March 2020. Institutional investors who avoided talking during the first two days of the IPO repeatedly bid more than the number of shares reserved for them.
The Ministry of Health of India said on Friday that according to the health management information system, India has achieved 99% DTP3 (three doses of diphtheria, tetanus and pertussis vaccine) coverage in the first quarter of this year (January to March).
Due to healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, India’s exports in June increased by 48.34% for the seventh consecutive month to US$32.5 billion, despite a trade deficit of 9.37 U.S. billion.
Union Minister Piyush Goyal said on Friday that India will play a leading role in the field of renewable energy in the next few years. In his speech at the second "Aatmanirbhar Bharat-Self-Reliance for Renewable Energy manufacturing" farewell meeting, he said that starting from the initial stage of hydropower, we are already looking to the future and beginning to get involved in hydrogen technology.
Digital payments and financial services company Paytm has submitted a draft red herring prospectus for its proposed initial public offering (IPO) of Rs 16,600 crore. According to the document, the company plans to raise 8,300 crore rupees through new equity and another 8,300 crore rupees through tender offer.
The state-owned National Thermal Power Corporation (NTPC) has launched an online tender on the basis of a "two-stage" tender for the EPC package of waste-to-energy facilities in Uttar Pradesh. NTPC said in a statement that the bidding began on June 22 and will end on July 27 this month.
The Ministry of Finance today issued 75,000 crore to the states as well as Union Territories and legislatures under the back-to-back loan mechanism in lieu of GST compensation. This release is a supplement to the normal GST compensation, which will be issued every 2 months from the actual cess collection,” the ministry said in a statement.
In a speech at the ET Financial Inclusion Summit on Thursday, Reserve Bank of India Governor Shaktikanta Das said that financial inclusion is essential for sustainable economic growth that helps reduce poverty and income inequality. In addition, he emphasized how far India has gone in terms of financial inclusion.
According to data released by the Ministry of Commerce on Thursday, India’s exports increased by 48.34% to US$32.5 billion due to healthy growth in shipments of petroleum products, gems and ornament, as well as chemicals, leather and marine products. Imports in June also increased by 98.31% to 41.87 billion U.S. dollars.
According to data from HDFC Securities, with the rise in global precious metal prices, the price of gold rose by 177 rupees on Thursday to 47,443 rupees per 10 grams. In previous transactions, precious metals closed at 47,266 rupees per 10 grams. Silver also rose by 83 rupees to 68,277 rupees per kilogram from 68,194 rupees per kilo in the previous transaction.
WhatsApp released its first monthly report in India on Thursday. The report complies with the Indian government’s new I-T rules, which require technology companies operating in India to issue a monthly report in addition to appointing an appeal officer in the country. In its report, the messaging app owned by Facebook revealed that it banned a total of 2 million WhatsApp accounts in India between May 15, 2021 and June 15, 2021.
Uttar Pradesh Industrial and Infrastructure Development Commissioner Sanjeev Mittal held a meeting with a group of developers on Thursday to discuss a series of issues, such as delayed delivery of apartments and registration of ready units, and lower interest rates.
Due to the intensity of the second wave of pandemics, many life insurance companies used up their Covid-19 claim reserves for FY22 in the first quarter. Although insurance companies cannot modify prices immediately, they have become cautious about accepting new proposals. They are now insisting on medical testing of recommendations, and these recommendations will be accepted earlier on the basis of remote consultations.
In the three-day market rebound, investors' wealth increased by Rs 2,276,325 crore, and the benchmark sensex closed at a record high on Thursday. At the close, the 30-share BSE index rose 254.80 points, or 0.48%, to 53,158.85, which was a historical closing high. During the day, the benchmark index also reached an all-time high of 53,266.12 points.
On Thursday, gasoline prices rose by 35 paisa and diesel prices rose by 15 paisa, pushing national prices to new highs. According to the price notification from the state-owned fuel retailer, the price of gasoline in Delhi is now Rs 101.54 per liter and Rs 89.87 per liter for diesel. Increased after interest rates remained silent for three days.
On Thursday, Indian Union Minister RK Singh was confident that India will exceed its 2030 carbon emission reduction target set by the Paris Agreement. The Minister of New and Renewable Energy stated that India must reduce its carbon intensity to 33% by 2030 in accordance with its commitments made in Paris.
An official stated that the government may extend the 2017-20 investment promotion plan to attract investors and promote the country's economic growth. The official added that the Expenditure Finance Committee under the Ministry of Finance has approved the proposal to extend the plan, and it is expected that the Ministry of Industry and Commerce will soon seek approval from the Cabinet.
As interest rates continue to remain at an unprecedentedly low level, the Reserve Bank of India may begin to tighten monetary policy, and the gradual normalization of policy may begin at the end of the current fiscal year. Although retail inflation fell month-on-month in June, it remained above the 6% threshold for the second consecutive month. Consumer price index inflation slowed slightly to 6.26%.
The Rajasthan Government has decided to increase the pension allowance for Rajasthan Government employees and pensioners from 17% to 28%. The pension rate will take effect from July 1, 2021. Chief Minister Ashok Gehlot said on Wednesday that despite the difficulties faced by Covid-19, the state government will spend about Rs 40 crore each year to support this decision by employees.
After American Express and Diners Club International, the Reserve Bank of India (RBI) has now barred MasterCard from accepting any new customers after the company failed to comply with RBI's April 6, 2018 notice regarding storage of payment system data.
ITC Ltd has increased its capabilities in emerging modes such as e-commerce and modern trade channels through “Sharp-focused investments, and has accelerated innovation with platform-centric and “digital-first” brands after the Covid-19 pandemic, according to the company’s 2020-21 annual report.
A Gartner report on Wednesday stated that IT spending in India is expected to grow by 8% in 2021 to reach US$92.7 billion.Gartner stated that the 8% growth rate is slightly lower than the 8.6% world average, adding that global IT spending is estimated to be US$4.2 trillion.
Since the National Highways Authority of India (NHAI) has successfully tested a system that can read FASTags and deduct tolls, vehicles can quickly pass through toll gates on the Delhi-Meerut Expressway [DME] without stopping payment.
The rate of daily vaccination across India has slowed again and has now fallen to the level before June 21, when the country began the latest phase of its Covid-19 vaccination campaign, and the center provided free vaccination to all states.
Tata Motors launched a new brand called "XPRES" for fleet customers on Wednesday. Under this brand, the company will meet the specific needs of the fleet in terms of safety, passenger comfort and low cost of ownership. All vehicles in the fleet department will be equipped with the newly designed XPRES badge, which will distinguish them from other models.
A new study released by the Council on Energy, Environment and Water (CEEW) and the UK’s carbon tracking agency shows that India’s demand for fossil fuel power generation reached a stable level in 2018, but declined in 2019 and 2020.
Official data released on Monday showed that the retail inflation rate in June was almost flat at 6.26%, compared with 6.3% last month. However, the inflation rate based on the Consumer Price Index (CPI) is still higher than the Reserve Bank pair for the second consecutive month. The government has authorized the Reserve Bank of India to keep the retail inflation rate at 4%, and the profit margin on both sides is 2%.
Jeff Bezos’ Blue Origin has been approved by the Federal Aviation Administration (FAA) to launch a new Shepard rocket into space on July 20. The company was required to verify that the rocket's hardware and software operated safely during the test flight, and the FAA confirmed that it met regulatory requirements.
According to people familiar with the matter, the billionaire Mukesh Ambani’s Reliance Industries Ltd. is considering ordering for India’s incentives for solar manufacturing as the fossil fuel giant has begun to invest $10 billion in clean energy. Reliance, India's most valuable company, attended the meeting. People familiar with the matter said that a pre-bid meeting was held last month to discuss the subsidy plan.
The Ministry of communications has charged a 1% spectrum usage price for satellite-based services provided by the state-owned telecommunications company BSNL. Currently, public sector telecommunications companies provide satellite phone services to government organizations and shipping companies authorized by the Ministry of the Interior.
In COVID-19 pandemic, the Uttarakhand government decided on Tuesday to cancel this year's Kanwar Yatra. Kanwar Yatra is a devotee of Lord Shiva who makes pilgrimage to the Hindu pilgrimage sites of Haridwar, Gaumukh and Gangotri in Uttarakhand and Sultanganj in Bihar to fetch the holy water of the Ganges every year. Later, holy water was distributed to Lord Shiva as offerings in the temple.
Food delivery platform Zomato said on Tuesday that it had raised more than Rs 41.96 crore from major investors before its first public subscription on Wednesday. According to a notice uploaded on the BSE website, the company has decided to allocate 552,173,505 shares to anchor investors at a price of 76 rupees per share, with a total transaction size of 4,196.51 crore rupees.
The government of Maharashtra announced the revised electronic vehicle (EV) policy on Tuesday. It has proposed to amend the Development Control Rules (DCR) to promote the establishment of charging stations in parking lots in housing societies and corporate parks.
This is after the approval of the Union Government and the Maharashtra State Government and the Maharashtra City and Industrial Development Corporation (CIDCO). Adani Airport Holdings Ltd. (AAHL), a wholly-owned subsidiary of Adani Enterprises Ltd., took over the management of GVK Group’s control of Mumbai International Airport Co. Ltd. (MIAL) on Tuesday.
A senior official said on Tuesday that the center's goal is to list the state-owned insurance giant LIC before the last quarter of the current fiscal year and will soon appoint a commercial banker for the transaction. Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM), told TOI: "We are looking at the fourth quarter. Several aspects of the IPO are making progress."
RC Bhargava, chairman of Maruti Suzuki, said that Maruti Suzuki is lining up for the country’s largest single-site car investment because it plans to invest up to 180 billion rupees in a new plant in Haryana, which may have an annual production capacity of 1 million.
A gathering in Mumbai in the last week of June laid the foundation for the Tata Group's ambitious digital plan. Among the meetings held in the context of the group's annual shareholder meeting, there were N Chandrasekaran, chairman of Tata Sons, and Pratic Pal, CEO of Tata Digital.
IT rules Ashwini Vaishnaw posted on Koo that the new IT rules will ensure that India’s social media ecosystem is safer and more accountable. The new Minister of Information and Technology Ashwini Vaishnaw made his debut on Koo on Sunday. His first post on the social media platform was about the recently introduced IT rules, which he said are "empowering."
The Department of Investment and Public Asset Management (DIPAM) appointed in January Milliman Advisors LLP India, an actuarial firm, to assess the embedded value of LIC prior to an IPO (initial public offering), which is touted as the largest public offering history for Indian companies.
July 7, 1997 was a golden day in the chronicle of the Maharashtra State Educational Association , when the first Sanik Girls' School in Maharashtra started operating. Rani Laxmibai Mulinchi Sainik School is under the special plan of the government and MES to improve the abilities and advantages of women.
When Zomato's IPO is available for subscription this week, buyers of Indian stocks will have a rare opportunity to invest in a professionally managed new-age start-up company. The scarcity premium may keep Zomato's IPO demand high, and the stock may show good listing returns.
Dr. Krishna Ella, chairman and managing director of its developer Bharat Biotech, said on Monday that all documents required for the emergency use list (EUL) of the locally developed Covid-19 vaccine Covaxin have been submitted to the World Health Organization (WHO).
Tata Motors has launched dark versions of Altroz, Nexon, Nexon EV, and Harrier. The dark version of Tata Motors' "Forever Car Series" is essentially a special edition with black inside. Most of these dark version cars are top trims of the above models. In terms of mechanics, there are no changes in internal components and driving terrain.
Data released by the government on Monday showed that retail inflation based on the Consumer Price Index (CPI) slowed slightly to 6.26% in June. In May, industrial production increased by 29.3%. The inflation rate in May was 6.3%. The food basket inflation rate in June was 5.15%, compared with 5.01% last month.
Official data on Monday showed that India’s industrial production increased by 29.3% in May. According to the Industrial Production Index (IIP) data post by the National Statistical Office (NSO), manufacturing output surged 34.5% in May 2021. Mining output climbed 23.3% in May, and power generation increased by 7.5%. Industrial Production Index contracted 33.4% in May 2020.
The Delhi government reversed the order to close the Janpath market. SDM has issued a warning to the market association and warned store owners to strictly abide by the Covid-19 rules and agreements. On behalf of the SDM, an order regarding the rules has been issued to the SHO of Connaught Place and the district officials of NDMC.
Due to the very low prices of tea in Kenya and Sri Lanka, Indian exports have been affected in the past two to three years. The average price of tea auctions in Kenya is less than US$2 per kilo, which is much lower than our average auction price," said Dinesh Bihani, Secretary of the Guwahati Tea Auction Buyers Association (GTABA)
Although the new Delta variant keeps market participants vigilant, the launch of the Zomato IPO next week will excite traders and investors alike. Analysts are paying close attention to the first quarter data, the position of global central banks, the trajectory of inflation and bond yields.
A CII survey stated that the Indian economy is expected to recover rapidly from the effects of the second wave of COVID-19 because the blockade is mainly to restrict social gatherings and has little impact on economic activities. About 60% of the CEOs participating in the survey expect their company's sales recovery to be better than the first wave of pandemic.
According to the latest unlock, the Delhi government has also decided to reopen schools and universities. These educational institutions will be allowed to reopen with only administrative work and 50% capacity. This means that now only employees of the institution are allowed to go, and students will not be allowed.
New Electronics and IT Minister Ashwini Vaishnaw said on Sunday that the new information technology (IT) rules of 2021 are authorizing and protecting the interests of users on the Internet.
On Sunday, billionaire Richard Branson took off on a Virgin Galactic spacecraft from a base in New Mexico to the edge of space. The British hope that eventually the emerging space tourism industry will take off.
Due to the unopened part between Mayur Vihar Pocket-1 and Trilokpuri Sanjay Lake station, the service of the Delhi Metro Pink Line connecting Majlis Park and Shiv Vihar will be reduced from Monday to July 15.
In the past few years, Indians have been reducing their gold purchases due to the weakening of the economy and the virus outbreak that have weakened the spending power of Indians. Paul Fernandes, a 50-year-old waiter in India, used his gold loan last year as collateral to pay for his children's education after losing his job on a cruise ship.
Even in the season of Rath Yatra, due to the increase in containment areas in the cities of Midnapur and Kharagpur in West Bengal, they were unable to sell their products, so artists who made small tanks suffered huge losses.
The Ministry of Commerce said on Saturday that a batch of GI-certified Fazil mango varieties from the Marda region of West Bengal were exported to Bahrain. Geographical Indication (GI) labels can help growers get high prices for their products, because no other producer can abuse the name to sell similar products.
The pharmaceutical company Venus Remedies announced on Saturday a Covid protection policy for its employees and their immediate family members. According to one company, according to this policy, if the designated family member of a permanent employee dies prematurely due to Covid-19, the company will pay him an amount equivalent to one month's total salary within the next 12 months.
As restrictions on curbing the spread of the pandemic have been relaxed, India’s fuel demand rebounded in June after falling to a nine-month low last month, helping economic activity and liquidity rebound. Fuel consumption increased by 1.5% to 16.33 million tons.
The Virgin Space Ship Unity space shuttle will be launched today, which is an important feat for mankind. Although the rest of the world has reasons to celebrate the achievements of Virgin Galactic, one of the reasons in India is Sirisha Bandla. Bandera is rooted in Guntur in Andhra Pradesh. She will become the second woman born in India after Karpanachola to fly into space.
Government officials say that Ladakh has become the first union territory to vaccinate all residents and the "visitor population" (including migrant workers, hotel workers and Nepalese citizens who make a living here) with the first dose of the Covid-19 vaccine.
The promoter of Equitas Small Finance Bank (SFB), Equitas Holdings, said on Saturday that the bank has received approval from the Reserve Bank of India (RBI) to apply to incorporate the promoters into itself.
Obviously, the fading second wave brings hope to stock market investors who are tired of the new crown virus. The slow removal of local blockades by the state government is stimulating optimism. Keval Bhanushali, CEO of Marwadi Shares & Finance predicts: “As everyone is waiting to open up, fast-moving consumer goods, retail and other fields will recover significantly.”
As the two chief CEOs of the world's largest technology companies, their competition is notorious. Back in the 1980s and 1990s, Apple co-founder Steve Jobs and Microsoft co-founder Bill Gates did not really agree on many things. However, there is also admiration. Since Jobs passed away in 2011, Gates has often talked about this.
The World Health Organization may make a decision on the emergency use list (EUL) of Bharat Biotech's Covid-19 vaccine Covaxin in the next four to six weeks. According to PTI News Agency, Soumya Swaminathan, chief scientist of global health agencies, said in a webinar on Friday that WHO is reviewing Covaxin because its manufacturer, Bharat Biotech, is now uploading all of its data to the health agency’s portal.
The G20 finance ministers approved a tax reform for multinational companies on Saturday, aiming to end tax havens by setting the global corporate tax rate at 15%. According to NHK reports, the G20 finance ministers concluded a two-day meeting in Venice, Italy on Saturday and passed a joint communiqué.
The trade agency AISTA said on Friday that in the 2020-21 marketing year ending in September, sugar factories have exported 4.75 million tons of sweeteners so far, with the largest export volume to Indonesia. The All India Sugar Trade Association (AISTA) stated in a statement that compared with the 6 million tons allocated by the Ministry of Food in January this year.
It is understood that Paytm President Amit Nayyar and Chief Human Resources Officer Rohit Thakur have resigned. In recent months, several other executives have also published their own papers. In response to TOI’s inquiries, Paytm said in a statement: “As a company, we do not comment on personnel changes. We have built an incredible management team that includes some of the most well-known figures in the industry.
The Reserve Bank of India (RBI) approved the reappointment of Shyam Srinivasan as the managing director and chief executive officer of the Federal Bank on Friday for a three-year term, effective from September 23 this year to September 22, 2024. Srinivasan has been responsible for the Kerala-based bank as CEO since September 23, 2010, and has completed three terms. The Reserve Bank of India (RBI) approved the reappointment of Shyam Srinivasan as the managing director and chief executive office
Blackstone is already India's largest warehousing company after IndoSpace. It accomplished all this in just one and a half years. Although it has reached deals with some of the most well-known domestic warehousing companies, if it wants to improve its ranking, it has no choice but to enter project development.
The goal of Tata Motors is to become more agile through the Alpha and Omega platforms. The idea is to maintain a rolling chassis common to different cars. Modularity reduces development time and costs because the company has fewer parts to manage. In addition, for each new model launched on the same platform, the amortized R&D cost of each vehicle has decreased exponentially.
The United Public Service Commission (UPSC) has invited applications to fill 363 vacancies in the post of principal of the Education Bureau of the Ministry of Education of the NCT Government of Delhi. The United Public Service Commission (UPSC) has invited applications to fill 363 vacancies in the post of principal of the Education Bureau of the Ministry of Education of the NCT Government of Delhi.
Gold fell slightly by 29 rupees on Wednesday, trading at 46,903 rupees per 10 grams, reflecting the overnight drop in global precious metal prices. Gold prices fell by 451 rupees on Friday and traded at 46,844 rupees per 10 grams in the capital. On Thursday, the precious metal closed at 47,295 rupees after rising by 56 rupees or 0.12%.
During the second wave of Covid-19 during school closures, teachers in Bamer, Rajasthan, are redoubled their efforts to bring “schools” to students’ doorsteps to ensure that their education will not be affected during the pandemic.
On Friday, the waste from the South Delhi Municipal Corporation went to Miracle Park and won the "Earth Day Network Municipal Leadership Award." The award was presented to Mayor Mukesh Surian at an event organized by the Municipal Center by the head of the India Office of the Earth Day Network. At the meeting, the mayor said that the Waste to Wonder Park of SDMC has become the most famous tourist attraction in the capital.
Despite the slight decline in the number of new Covid-19 cases and deaths in the state on Friday, Kerala faces another threat in the form of the Zika virus, a rare infectious disease so far unheard of in this part of the country.
The Reserve Bank on Thursday asked banks and financial institutions to use any widely accepted alternative reference rate (AAR) instead of LIBOR (London Interbank Offered Rate) as the reference rate for signing new financial contracts.
According to the Indian Meteorological Department (IMD), after a 10-day "interrupted" monsoon period, the monsoon began to gradually recover. The humid monsoon from the Bay of Bengal has begun to form in eastern India. By July 10, these winds may spread to northwest India, covering Punjab and northern Haryana.
Retailers and manufacturers say that sales growth of DIY products such as robotic vacuum cleaners and dishwashers has fallen from a substantial increase of 2-4 times in the first wave of Covid-19 last year. Sales of certain types of vacuum cleaners (such as portable vacuum cleaners, electric mops, clothes dryers) have returned to the days before the outbreak after reporting the best situation ever
Indian Prime Minister Narendra Modi will interact with Indian athletes participating in the Olympic Games on July 13, three days before the first group of athletes travel to Tokyo to participate in the Olympic Games. Due to the COVID-19 situation, the interaction will be held in a virtual way. Shri Narendra Modi will interact with Tokyo Olympic athletes to inspire them.
The government is stepping up its efforts to increase oxygen production and supply infrastructure for the possible third wave of Covid-19, and is considering building facilities near major cities such as Delhi and Mumbai, and establishing buffer stocks to meet the peak demand.
With the corona virus disease (Covid-19) pandemic hitting India last year, after states and the Union Territory (UT) initially banned dining in restaurants, hotels, and food stalls, demand for online food delivery services provided by aggregators such as Zomato Significant increase and so on.
The retail sales of Swedish luxury car manufacturer Volvo Cars India from the first half of January to June 2021 increased by 52% to 713 vehicles. Last year the company sold 496 cars. In a turbulent market environment, this growth has led to healthy sales of the company's mid-size luxury SUV XC60.
Petroleum Marketing Corporation kept the retail prices of gasoline and diesel unchanged on Friday to analyze global oil price trends before making further corrections. After breaking through US$77 per barrel, global crude oil prices weakened slightly, and the oil cartel OPEC diverged on continuing to cut production.
One shot of Covid-19 vaccine may not be enough to prevent Delta variants. A new study published in the journal Nature concluded that this variant of the corona virus is almost insensitive to a dose of vaccine and can evade antibodies against certain parts of the virus.
The stock benchmark Sensex fell more than 300 points in early trading on Friday, following the declines of major index companies Reliance Industries, HDFC twins and ICICI Bank amidst a weak global market. After opening 340 points, the 30-share BSE index traded at 282.08 points or 0.054%.
Although the country’s cumulative vaccination coverage in the past 24 hours has exceeded 360 million, India is expected to receive 3 to 4 million doses of Pfizer and Moderna Covid-19 vaccines through Covax facilities by August. Covax, led by the GAVI Vaccine Alliance and the World Health Organization (WHO), may ship vaccines made in the United States to India as early as this month. "This is through a donation from Covax” the source said.
Major airline IndiGo argues that India has great potential to further restore air traffic due to suppressed demand. In addition, the airline stated that this trend is supported by strong domestic tourism consumption, and the accelerated pace of vaccination work has further exacerbated this trend. In a conversation with IANS, the chief commercial officer of IndiGo.
In futures trading with strong spot demand, zinc prices rose 0.8% on Tuesday to 240.15 rupees per kilogram. On multiple commodity exchanges, the zinc contract for July delivery rose 1.90 rupees, or 0.8%, to 240.15 rupees per kilo 1,840 lots. Analysts said that after the positive demand from the consumer industry supported prices here, traders created new positions.
The Van Mahotsav programme is being organised by the Department of Forests and Wildlife, Delhi Government from June 26 to July 11, 2021. Ishwar Singh, Principal Chief Conservator of Forest, Nisheeth Saxena, Chief conservator of forest and other senior officials of the Forest Department were also present during the plantation drive.
The State Bank of India (SBI) only provides 0.83 free cheque pages to ordinary savings account holders each month for issuance, that is, less than one free cheque is issued every month. This is because SBI only provides 10 free checks to its regular savings account holders each fiscal year. If the person needs more than these in a year, he/she must pay for it. In contrast, HDFC Bank, ICICI Bank and Punjab National Bank provide 20 to 25 cheques for free each fiscal year.
Shobha Karandlaje, MP from Udupi-Chikmagalur, Karnataka, was elected to the Council of Ministers of the Union on Wednesday. She joined the Bharatiya Janata Party (BJP) in 1996 and served as a member of the state legislative council before getting elected as a lawmaker in 2008.
The Supreme Court said on Thursday that it will hear Amazon’s defence against the Delhi High Court’s decision on July 20, which shelved its single judge’s order and provided billions of dollars for the merger of Future Retail Ltd (FRL) and Reliance The transaction, paved the way for retail.
The June GST collection once again regained confidence in the government revenue department, that is, not only the indirect tax collection in FY22 may be closer to the budget target, but the fiscal deficit may eventually be controlled as predicted.
As COVID-19 Delta Variant cases continue to rise globally, many countries/regions are restoring restrictions and lockdown measures as preventive measures. According to the World Health Organization, this variant has been found in at least 98 countries.
At present, in the last stop of Croatia's long game and training trip, the Indian Olympic shooting team will leave Zagreb on July 16 for Tokyo and arrive in the Japanese capital the next day.
Delhi Metro Railway Corporation Limited has launched a FASTag /UPI-based cashless parking facility at Kashmir Gate Metro Station, which can accommodate 55 four-wheelers and 174 two-wheelers. The facility was launched by Dr. Mangu Singh, managing director of DMRC, and senior officials from DMRC and the National Payment Corporation of India (NPCI) were present.
A report on Tuesday said that due to the decline in the number of Covid-19 cases in the country, domestic air passenger traffic resumed a growth trajectory in June. There were about 3 million passengers on local routes last month, compared with about 2 million in May. Credit The rating agency ICRA stated in its report that despite some recovery in June, demand pressures continue, mainly caused by the second wave of pandemics, and travel is limited to necessary travel.
The country’s largest mortgage lender said on Tuesday that the National Housing Bank (NHB) has imposed a fine of 475,000 rupees on the Housing Development Finance Corporation (HDFC) for failing to comply with certain regulations. HDFC stated in a regulatory document on Tuesday: “I would like to inform you that the NHB has imposed a fine of Rs 4,75,000 plus goods and services tax on the company on July 5, 2021 (Monday). The reason is that it is technically Non-compliance with NHB notices.".
As the second wave of the Covid pandemic and the resulting blockade hit businesses and the economy, the GST collection in June fell below Rs 1 billion for the first time in eight months. Official data released on Tuesday showed that the Goods and Services Tax (GST) levy was 92,849 crores, the lowest level in 10 months since August 2020, when it was 86,449 crores.
As the strong U.S. dollar and rising crude oil prices suppressed investor sentiment, the Indian rupee exchange rate against the U.S. dollar fell by 24 paise to close at 74.55 on Tuesday. In the inter-bank foreign exchange market, the opening price of the rupee was 74.28 per dollar. It hovered in the range of 74.25 to 74.62 during the day, and then closed at 74.55 against the U.S. dollar.
Veteran actor Dilip Kumar has passed away at the age of 98. He left a film heritage spanning six years and brought some of the most enduring classics to Hindi films. Dilip Kumar’s funeral will be held later in the day, which was announced through his official Twitter account. "Buried at 5:00 this afternoon. At Juhu Qabrastan in Santacruz Mumbai," the tweet read.
As the trend of rising fuel prices in India has no end in sight, petrol and diesel prices nationwide continue to rise. The state-owned oil company raised the price of fuel pumps again today. The recent interest rate hikes have pushed Delhi and Kolkata to surpass the 100 rupees per litre mark, while at the high end, cities like Mumbai have already surpassed the 106 rupees per litre line.
The stock benchmark Sensex rose by more than 100 points in early trading on Wednesday, tracking the gains of index heavyweights HDFC twins and TCS Asia Paint. After starting to fall, the 30-share BSE index rose 119.36 points or 0.23% to 52,980.54 in initial trading. Similarly, the broader NSE Nifty rose 25.10 points, or 0.16%, to 15,843.
This is going to be a 16-day tour, which will start from Safdarjung Railway Station in Delhi on September 18, 2021, covering Badrinath, Narsingha Temple, Rishikesh, Jagannath Puri, Konark Sun Temple, ChandraBhaga Beach, Rameshwaram, Dwarkadhis, Shiv Rajpur Beach and Bet Dwarka. In light of the decrease in coronavirus cases nationwide, Indian Railways It was decided to operate a special train covering multiple popular tourist destinations in September.
Even after stepping down as Amazon's CEO, Jeff Bezos still tops the Forbes global real-time billionaire list because he firmly grasped the number one position. According to the Bloomberg Billionaires Index, Bezos' net worth is estimated at 203 billion US dollars, and his wealth has soared since he first founded the company in 1994.
Food Supply Aggregator platform Zomato has received approval from the market regulator SEBI to raise Rs 8,250 crores through an initial share sale. According to the Draft Red Herring prospectus, the initial public offering (IPO) includes the issuance of new shares worth 7,500 crores and Info Edge (India) Ltd's offering for sale worth 750 crores.
The income tax department on Monday extended the deadline for manual submission of forms related to foreign remittances to July 15. As the new I-T portal faced technical problems after its launch on June 7 and users complained about malfunctions, the department allowed the manual submission of the 15CA/15CB form (required for foreign remittances) to the bank before June 30.
After raising rates again, the price of petrol in the capital on Monday approached the 100 rupees per litre mark. According to the price notice from the state-owned fuel retailer, the price of petrol increased by 35 paise per litre, while the price of diesel remained unchanged. In Delhi, petrol prices soared to 99.86 rupees per litre. The price of diesel remained unchanged at 89.36 rupees.
Delhi recorded 54 new Covid-19 cases and two other deaths on Monday, with a positive rate of 0.09%. According to data shared by the health department on Monday, 14,34,608 Covid-19 cases have been recorded in the capital since the beginning of the pandemic last year. So far, more than 14.08 million patients have recovered. According to the Health Bulletin, the new death toll brings the city’s death toll from the disease to 24,995.
The Bihar government has decided to vaccinate the elderly and the disabled at home. Families who are bedridden or frail will soon be able to use the state helpline number to book vaccine doses. The facility, known as the Veterans Vaccine Express, has already started operation in Sri Krishna Puri, Patna, and an elderly woman received a dose of Covid-19 vaccine at home.
India's gold price rose on Tuesday following international peers. On the Multi-Commodity Exchange (MCX), the August gold contract rose 0.34% to 47,459 rupees for 10 grams at 0940 on July 6. The September silver futures trading price rose 0.37% to 70,298 rupees per kilogram.
The Food Corporation of India is the highest central agency that purchases food at the lowest support price. It purchases grain directly from farmers and sends it to the state government to provide grain to beneficiaries. FCI purchased 2.34 million metric tons of wheat in the state at the lowest support price during the 2021-22 rabi marketing year, which is the highest ever wheat purchase in Rajasthan.
Data released by the South Delhi Municipal Corporation (SDMC) on Monday showed that at least 36 cases of dengue fever have been reported in the capital so far this year. According to the latest reports issued by all three municipal companies, at least 30,466 households have reported mosquito breeding this year and 2,689 prosecutions have been initiated.
The Central Board for Secondary Education (CBSE) said on Monday that it will conduct two sets of committee examinations for students in grades 10 and 12 in the current academic conference 2021-22, one set between November and December, and the other set in 2022. Between October and April to prepare for any "unprecedented circumstances" that may arise next year due to the Covid-19 pandemic.
At the Cowin Global Conference, Prime Minister Narendra Modi told a global audience that since Cowin was used in India, it can be determined that the platform has been tested for speed and scale in the real world. Indian Prime Minister Narendra Modi (Narendra Modi) said on Monday that India’s covid-19 vaccination platform Cowin will be open source and its technology will be shared with all countries seeking to use it to fight the deadly pandemic.
The government said on Sunday that it has set up two other vaccine testing facilities in Pune and Hyderabad. New laboratories for vaccine batch testing and quality control are in the process of getting ready as the Central Drug Laboratory (CDL) at the National Center for Cell Science (NCCS) in Pune and the National Institute of Animal Biotechnology (NIAB) in Hyderabad. These facilities are expected to test about 60 batches of vaccines each month.
To simplify doing business, the new guidelines instruct companies to purchase stocks or commodities that are traded through approved exchanges without deducting TDS from their transactions. The Central Direct Taxation Commission (CBDT) has implemented a regulation related to tax deduction at source (TDS), which applies to businesses with a turnover of more than Rs. 10 crores.
E-commerce giant Amazon announced on Sunday that it has launched its IP Accelerator program in India to provide sellers (also brand owners) with the services of intellectual property experts and law firms. According to a statement, these sellers, including small and medium-sized sellers, can choose to cooperate with these intellectual property law firms to help protect trademarks, protect their brands, and resolve infringement issues on Amazon.in and Amazon websites worldwide.
Automobile companies may soon be required to manufacture passenger cars and commercial vehicles with multiple fuel configurations, aimed at reducing the use of polluting fossil fuels and reducing harmful emissions. It is expected that the new guidelines for the use of flexible fuel vehicles (FFV) will be released in the third quarter of this year (FY22), which will specify the engine configuration and other changes required for the vehicle to comply with the required fuel mix changes.
Fuel prices continued to rise on Sunday, with petrol prices in the capital at 99.51 rupees per litre. In Delhi, fuel prices rose by 35 paise. OMC raised fuel prices on Sunday after keeping them unchanged for a day. Delhi's diesel price also rose to 89.36 rupees from 89.18 rupees per litre on Saturday.
Wages or remuneration during the state-wide blockade that will be implemented in April 2021 will be paid to contract workers and emergency resource hires who work in various departments and national undertakings in the state.
The Reserve Bank of India (RBI) has revised the specification under which the bank’s unclaimed fixed deposit (TD) maturity income will attract the interest rate applicable to the savings account or the agreed interest rate of the maturing TD, at any of the two One shall be lowered. According to the current regulations, if the fixed deposit is due but the payment is not paid, the unclaimed amount by the bank will accrue interest at the interest rate applicable to the savings deposit.
According to data from the Alliance, India added 39,796 Covid infections in a single day, bringing the total number of cases to 3,05,85,229, while the death toll climbed to 4,02,728, and the death toll increased by 723, the lowest level in 88 days. The MoH data was updated on Monday. The data updated at 8 am showed that the number of active cases further dropped to 4,82,071, accounting for 1.58% of the total number of infections, while the national Covid recovery rate has increased to 97.11%.
Four sources familiar with the discussions told Reuters that Amazon and Tata Group of India warned government officials on Saturday that plans to implement stricter regulations on online retailers will have a significant impact on their business models. At a meeting organized by the Ministry of Consumer Affairs and the government investment promotion agency Invest India, many executives expressed concern and confusion about the proposed rules.
According to an order issued by the Delhi Disaster Management Authority (DDMA), the Delhi government has allowed the city’s stadiums and stadiums to reopen from Monday, but there are no spectators. In its order on Sunday, DDMA stated that when opening stadiums and stadiums, it will strictly abide by standard operating procedures and other government guidelines, and comply with Covid-related behaviours.
The number of Covid-19 cases may be steadily declining, but with the mutation of the virus, it is unlikely that the magical zero number will be achieved in Delhi. Experts said and predict that the coronavirus will be reduced to an endemic epidemic in the future. The centre, Delhi Chief Minister Arvind Kejriwal, and his cabinet colleague Satyendar Jain said last year that people must learn to deal with the coronavirus and make preventive norms part of our lives.
On Saturday, a record 785,000 people across Maharashtra were vaccinated with Covid-10, although the number of daily pandemic infections rose to 9,489 and the death toll jumped to 371. Maharashtra broke its previous record of 7,38,704 vaccinations on June 26, setting another record, vaccinating people across the state with as many as 5,311 doses of COVID-19 vaccine.
Pramod Sawant, Goa's chief minister, said on Saturday that the Goa government is considering allowing restaurants to operate at 50% capacity as soon as possible. "We have announced that the salon may be open (from July 5). We are also considering a 50% reduction for (restaurants)," Sawant told reporters here, adding that the exact details are being worked out soon will be announced.
For people with blood diseases such as sickle cell Anemia and thalassemia, the good news is that for the first time, a group of researchers used CRISPR-Cas9 technology to successfully edit the genes of patients with severe red blood cell congenital diseases. The advantage of this method is that it uses the patient's cells, or in other words, modifies the DNA of the patient's blood cells. Donors are not required. The research was printed in the New England Journal of Medicine.
On Sunday, the price of diesel in some parts of Madhya Pradesh exceeded the 100 rupees per liter mark, and Sikkim became the latest state to see a petrol price of 100 rupees per liter after the fuel price rose again. According to the price notification from the state-owned fuel retailer, the price of gasoline increased by 35 paise per liter, and the price of diesel increased by 18 paise per liter.
After achieving the target demand during the peak period of this summer, the Delhi government has set a goal to meet the power supply of 7,323 MW next year to exceed 8,500 MV. During the peak of domestic electricity demand in the capital, Chief Minister Arvind Kejriwal held a meeting with officials from the distribution company and the power sector.
BCCI announced on Saturday the domestic cricket calendar for the 2021-22 season, which will be played in domestic competitions of all ages. The coveted Ranji Trophy will begin on November 16, which is scheduled for 2127 matches. Of a major event. Last season, BCCI was unable to host any age group competitions and was forced to cancel the Ranji trophy due to the Covid-19 pandemic.
In order to speed up efforts to raise awareness of population control, the Yogi Adityanath government decided to spread the message "Do Bachche Hi Achhe" at people's doorsteps. In order to implement the plan, the state government will organize a "population stabilization biweekly" event on the occasion of World Population Day on July 11. The National Health Mission has completed all preparations for this special and large-scale sport.
In order to reverse the two-month selling trend, the foreign securities investor (FPI) in June eventually became a net buyer, investing 13,269 crores in the Indian market. Morningstar India Associate Director (Manager Research) Himanshu Srivastava said that this may be due to the continued decline in the country's coronavirus cases and the hope that the economy will open soon, which has led to an improvement in investor sentiment.
A report by Grant Thornton Bharat-FICCI stated that the increase in the use of electric vehicles will lead to an increase in imports from Germany to India. At present, India and Germany aim to leverage their respective advantages to strengthen cooperation in the field of next-generation technologies including the Internet of Things (IoT).
On Friday, stakeholders emphasized the importance of students’ socio-emotional learning and praised the Delhi government’s "happiness course", saying that the course is an important step towards building a sustainable society. On the third anniversary of the "Happiness Program" in public schools, Deputy CM Manish Sisodia, Director of the DOE Udit Prakash, students, their families, and teachers shared their experiences in the positive transformation of students.
Niti Aayog member (Health) VK Paul quoted a study of Punjab police conducted by the Postgraduate Institute of Medical Education and Research (PGIMER) on Friday, saying that both vaccines can provide at least 98% protection against Covid-19 death. A total of 42,720 police officers received two doses of vaccine, of which 2 died, equivalent to 0.05‰, and 35,856 police officers received one dose.
According to data from the Reserve Bank of India, as of the week of June 25, 2021, the country’s foreign exchange reserves surged by US$5.066 billion, reaching a record high of USD 608.99 billion. As of the week before June 18, foreign exchange reserves decreased by 4.418 billion U.S. dollars to 603.933 billion U.S. dollars.
As domestic traders continue to complain about foreign online participants' alleged violations of FDI regulations, Minister of Commerce and Industry Piyush Goyal said on Friday that the ministry will "soon" make certain clarifications in the area of e-commerce. Goyal stated that since the policy is very clear, the ministry will not change any policy regarding foreign direct investment in e-commerce.
The government passed the amendment to the Indian Life Insurance Company (Employee) Regulations of 1960 to extend the retirement age of the chairman of the LIC bound by the IPO to 62 years old. The changes in the rules will be referred to as the Indian Life Insurance Company (Staff) Revised Rules 2021, based on a government notice dated June 30, 2021.
Although 10 EU countries have accepted Covishield as a certificate of exemption to enter these countries, those worried about future travel plans to Europe will have to wait for the resumption of international flights. Germany is the only country that has signed a bilateral bubble agreement with India, but it has not lifted the travel ban on people from India.
According to the results of the Phase III trial, Johnson & Johnson's single-dose Covid vaccine has shown strong neutralizing antibody activity against the Delta (B16172) variant, and the immunity lasts for at least eight months. The Phase III trial submitted to the bioRxiv preprint showed that the vaccine is consistently effective in all regions of the global study, including South Africa and Brazil, which are during the study period.
At 3:30 pm on Thursday, Delhi's peak power demand reached the highest point of the quarter of 7,026 MW. A senior BSES official stated that this was only the third year in Delhi's history that peak power demand exceeded 7,000 megawatts. "In 2018, peak power demand was more than 7,000 MW for the first time, reaching 7,016 MW. In 2019, it peaked at 7,409 MW," he said.
Minister of Commerce and Industry Piyush Goyal said on Friday that due to the healthy growth of industries such as engineering, rice, oil, and seafood, exports in the June quarter of this year jumped to US$95 billion. He told reporters here that the value of merchandise exports from April to June 2018-19 was USD 82 billion, and the value of merchandise exports in the last quarter of 2020-21 was US$90 billion.
Union FM Nirmala Sitharaman said on Thursday that the Goods and Services Tax Commission will soon convene a special meeting to discuss all compensation-related issues. She also said that the Covid-19 vaccination process across the country will be properly managed and all states will be taken care of. “I have promised to hold a special session, in which we will discuss, all GST compensation-related issues,” Sitharaman said.
The Reserve Bank said on Thursday that a plan to provide interest subsidies for post-shipment and pre-shipment export credits has been extended for three months to September, which will provide relief to exporters. Exporters receive subsidies under the "Interest Equalization Scheme for Export Credits of Rupees Before and After Shipment". In early April, the plan was extended to June 30.
The Delhi government waived the two-month license fee for hotels, restaurants, and bars that were closed due to lockdowns during the second wave of Covid-19 infection in the city. This will help the city to provide liquor hotels, restaurants, hotels, motels, and clubs to save thousands to hundreds of thousands of rupees.
The Delhi government issued an order on Thursday to require private schools to charge monthly fees, but only to approved principals, but the fees for the 2020-21 school year will be reduced by 15%. To further explain to parents and teachers, the Delhi government gave an example that if the school’s monthly fee in the 2020-21 fiscal year is 3,000 rupees, the school has the right to charge monthly tuition fee @ 2,550 rupees/month 15% after deduction.
The Federal Ministry of Health said on Friday that since the second wave of the pandemic reached its peak in the country, the number of Covid cases in India has fallen by 86%, but people should not relax their vigilance. Lav Agarwal, joint secretary of the Ministry of Health, said at a press conference: “With the continued attention of clinical management, the recovery rate was 81.1% on May 3 and is now about 97%.”
International flights will be suspended until July 31. The Directorate General of Civil Aviation (DGCA) on Wednesday extended the ban on scheduled international flights to and from the country until July 31. This restriction does not apply to international all-cargo flights and scheduled flights according to travel arrangements. The ban on scheduled international flights has been implemented since March last year.
A new study shows that coronavirus infection can change the biomechanical properties of red blood cells and white blood cells, which in some cases lasts for several months. It may be that Covid survivors will suffer for months even after clearing the life-threatening infection. s reason. Their pain is varied, including shortness of breath, fatigue, and headaches.
In order to comfort aspiring chartered accountants candidates, the Supreme Court on Wednesday instructed the Institute of Chartered Accountants of India (ICAI) to provide candidates who plan to take the CA exam on July 5 with an “exit” option because candidates or family members face Of COVID-related difficulties.
After receiving more than 27,700 complaints from individual users in India, Google removed approximately 59,350 pieces of content from its social media platforms in April. In the first monthly transparency report released under the new social media and intermediary guidelines, Google stated that approximately 96.2% or 26,707 such complaints were related to copyright issues; followed by trademarks, defamation, other legal issues, counterfeiting, and circumvention.
Professional social platform LinkedIn denied that the data of its 700 million users was compromised by hacker attacks. LinkedIn said in a statement that private member data has not been leaked. LinkedIn has issued a statement in several reports claiming that more than 700 million (92%) of its 756 million users' data was exposed in a new violation. User data is sold on the dark web along with 1 million "samples" of potential customers.
As commercial companies that signed a memorandum of understanding with the state government announced their decision to withdraw from the project, a major industrialization movement that was supposed to create 35,000 jobs in Kerala over the next three years suffered a setback on Tuesday. Kitex, the leading business group in Ernakulam District, announced on Tuesday that the state's environment is not conducive to business operations.
As Vodafone Idea reported a net loss of Rs 6,985.1 crore for the quarter from January to March, the company’s auditors raised concerns about its survival as a “going concern”. The company stated in its financial performance statement for the 21st fiscal year and the fourth quarter of the previous fiscal year that the group had a loss of 44,233.1 crores for the year ended March 31, and net assets were negative.
Deputy Chief Minister Manish Sisodia launched a web application on Tuesday for school principals, teachers, and entrepreneurial thinking curriculum (EMC) coordinators to access EMC-related teaching materials. The Delhi government stated that under EMC’s seed funding program, entrepreneurial-minded students will receive 2,000 rupees to establish businesses.
In respect of dealing with the Covid-19 infection in Gurugram, the regional health department decided to deploy a mobile vaccine vehicle for the slum areas of the region. According to the plan, from July 1st to July 9th, drugs will be administered via mobile trucks in slums. Gurugram Civil Surgeon Dr. Virender Yadav informed that a nine-day plan has been drawn up to introduce the new coronavirus vaccine in slums.
Kant was appointed as the Chief Executive Officer of the Public Policy Think Tank in 2016 for a two-year term, which was extended to June 30, 2019. It was then extended for another two years until June 30 this year. The center has extended the term of office of Amitabh Kant, Chief Executive Officer (CEO) of the National Institution for Transforming India (NITI Aayog), India for one year until June 2022.
Union Minister Prakash Javadekar said on Tuesday that the Ministry of Heavy Industry and Public Enterprise will soon hold a stakeholder meeting to discuss the rapid growth of the automotive industry, including electric vehicles. He also said that with the development of NATRAX (National Automotive Test Tracks) Indore facilities, domestic vehicles will no longer need to be sent abroad for testing.
Covaxin is one of the two most popular Covid-19 vaccines in India, together with AstraZeneca’s Covishield. Although it is waiting for the results of phase 3 clinical trials, it has been authorized for emergency use. A top US Institute for Infectious Diseases said on Tuesday that the research it funded led to the development of a chemical that can improve the efficacy of Bharat Biotech’s Covid-19 vaccine Covaxin, which has shown that the vaccine can effectively neutralize SARS -CoV-2.
On Tuesday, the daily number of Covid-19 deaths in Maharashtra fell to 231, and the number of infections remained relatively low at 8,085, although 8,623 patients in the state’s hospitals were discharged after a full recovery. The state recorded 287 deaths and 6,727 infections the day after, the daily death toll dropped further to 231, while the number of infections increased by 1,358. It is important enough that for the first time in two months, there are no “old and missing” death reports.
On Tuesday, the grounded Jet Airways stock price continued to rise, rising nearly 5%, hitting the price ceiling. Since the National Company Law Tribunal (NCLT) approved the Jalan Kalrock Consortium’s solution to the airline on June 22, the bills have been increasing. On Tuesday, it closed at 126.80 rupees per share on the BSE-also the price ceiling. It also ends at the same level on NSE.
Officials said on Wednesday that the East Delhi Regional Government had closed the Laxmi Nagar main market and some nearby markets until July 5th due to violations of the Covid agreement. In an order issued on Tuesday, Sonika Singh, chairman of the Delhi Disaster Management Authority (Eastern District), stated that the market association and shopkeepers of the main bazaar Laxmi Nagar “cannot secure the Covid agreement (Compliance) due to the high passenger flow".
The Municipal Corporation of Gurgaon (MCG) will soon launch an online portal to resolve complaints and have time to meet with the municipal commissioner. The name of the portal has been proposed by the commissioner as "MCG Samadhan.com". In this regard, MCG Commissioner Mukesh Kumar Ahuja held a meeting with IT Wing officials on Monday and provided the necessary guidelines and recommendations for preparing the portal.
The latest news from the Ministry shows that the total number of Covid-19 in the country is now 30,316,897, and the death toll has reached 397,637. According to the Union Ministry of Health and Family Welfare, India reported 37,566 new coronavirus disease (Covid-19) infections on Tuesday, and 907 people have died in the past 24 hours. The country’s new Covid-19 cases are lower than the data reported on Monday when 46,148 new infections were recorded in the past 24 hours.
On Monday, the All India Institute of Medical Sciences (AIIMS) and Safdarjung Hospital reported the fire accident. On Monday morning, a fire broke out in a room near the operating room of the AIIMS emergency department. No one was injured. According to Atul Garg, director of the Delhi Fire Service (DFS), he received a call at 5:04 in the morning saying that there was a fire in the emergency room operating room (OT) and rushed to AIIMS for seven fire protection bids.
In order to empower and provide more opportunities, a non-governmental organization in Vasai, Palghar District, Maharashtra, opened a school to provide free education for transgender people. This school was opened in the transgender community of vasai who said that they had few opportunities for education, and few people were willing to teach them.
Finance Minister Nirmala Sitharaman said on Monday that the government will provide free visas to 500,000 tourists visiting India. In announcing measures to revive the tourism industry hit hard by Covid-19, Sitharaman stated that it will provide financial support to more than 11,000 registered tour guides, travel, and tourism stakeholders.
The captain of the Indian women's cricket team, Mithali Raj, accomplished the inspiring feat of her cricket career for more than 22 years. What's more admirable is that in their career, no one can compare with her. Compared with men's cricket, only Sachin Tendulkar can cross the 22-year mark. The Indian women's cricket team is currently participating in the trio ODI and T20 series against England.
India successfully runs testing of a new variant of its nuclear-capable Agni ballistic missile on Monday. The missile has a range of 1,000 km to 2,000 km and will provide the armed forces with operational flexibility. The missile named Agni Prime was designed and manufactured by the Defense Research and Development Organization (DRDO). It was successfully tested after being launched from Dr. APJ Abdul Kalam Island off the coast of Balasore, Odisha at 10:55 am.
In view of Covid-19 and insufficient health preparations, the High Court made this decision. It asked the government to submit the affidavit again by July 7. The Uttarakhand government issued new guidelines for the Char Dham pilgrimage because it decided to start the first phase of the pilgrimage from July 1st and the second phase from July 11th, despite the high court banning the pilgrimage this year.
The government allocated an additional Rs 19,041 crore on Monday to provide broadband connections in all villages under the Bharat Net Project. Prime Minister Narendra Modi announced on August 15, 2020, that all villages will have broadband connections within 1,000 days. In announcing the stimulus measures for various sectors, FM Nirmala Sitharaman said that an additional 19,041 crore is being provided to cash in that all villages will have broadband connections within 1,000 days from 2020 promi
So far, in the second wave of coronavirus epidemics, India has reported 40,845 cases of mucormycosis or black fungus, of which nearly 85% have occurred in patients infected with the coronavirus. Fungal diseases have claimed 3,129 lives. On Monday, Union Minister of Health Harsh Vardhan shared the data at a meeting of the Covid Ministerial Group. Since April, mucor infections have soared across the country.
The first, second, and third phases of the Delhi Metro have won the prestigious Japan Society of Civil Engineers (JSCE) 2020 "Outstanding Civil Engineering Achievement Award". This award is awarded to highly selective exhibition projects in the development of global civil engineering technology.
On Sunday, the Department of Education (DoE) decided to take over the management of the Swami Shivanand Memorial Hall, citing arbitrary and violation of rules. According to the Delhi government, school management ignores the right to education (RTE) rules and charges students additional fees. The Department of Education also ordered an investigation.
According to reports, the Delta Plus variant, which is more spread across the state, has now adopted Level 3 as the basic limit for Covid-19 restrictions. The first two levels have the greatest slack and have been removed until there are more orders. Starting today, many areas in Maharashtra will cancel the relaxation measures and implement further restrictions.
Although the second wave of the Covid-19 pandemic once again brought business and economic activities to a halt, the Chairman of the State Bank of India (SBI) Dinesh Kumar Khara expressed the hope that the country’s economy can be in the current fiscal year. recovery. The Chairman pointed out that the global economy will shrink by 3.3% in 2020, and the pandemic will cause significant loss of life and livelihoods.
State-owned power giant NTPC said on Sunday that it has set a goal of installing 60 gigawatts (GW) of renewable energy (RE) capacity by 2032. NTPC has become India's first energy company to announce its energy contract targets, as the United Nations High Commission for a statement, Level Energy Dialogue (HLDE). The country's largest electricity producer also plans to reduce net energy intensity by 10% by 2032.
Professor Poonam Tandon, Dean of the School of Student Welfare, stated that the university administration department received 343 applications for the program, and a total of 49 eligible students were selected. The University of Lucknow has established a fund to help poor but meritorious students with an annual grant of 15,000 rupees, which will be provided to 49 selected students this academic year.
To accelerate public awareness campaigns, the Reserve Bank of India (RBI) has begun to find entities that can develop multimedia promotional materials in 14 languages. In addition to English, it will also be used in Hindi, Assamese, Bengali, Gujarati, Kannada, Malayalam, Marathi, Oriya, Punjabi, Sindhi, Tamil, Telugu, and Urdu to launch a pan-Indian movement to educate the public about basic rules and regulations.
This number is slightly lower than Sunday when the country reported 50,040 new infections and 1,258 new deaths. According to data from the Union Ministry of Health and Family Welfare, India on Monday reported 46,148 coronavirus disease (Covid-19) cases and 979 deaths in the past 24 hours. This number is slightly lower than Sunday when the country reported 50,040 new infections and 1,258 new deaths.
Assam Fisheries Minister Parimal Suklabaidya said on Sunday that the depletion of dissolved oxygen levels in ponds due to environmental degradation has claimed the lives of hundreds of fishes in Dighalipukhuri on Guwahati Island. Since Saturday night, a large number of dead fish have been found floating in the water body, and then the minister has directed his department officials to visit the site and determine the exact cause.
The Insolvency and Bankruptcy Board of India (IBBI) “unintentionally” published on its website the Aadhaar and PAN details of creditors (including workers) of some companies that are undergoing settlement procedures. A senior official said that because the regulator is working on a test project to custody information about creditors of companies that are undergoing Corporate Insolvency Resolution Process (CIRP) and liquidation, the details have entered the public domain "inadvertently".
The Delhi Government Department of Education (DoE) issued a notice containing methods and implementation strategies for teaching activities from kindergarten to class XII in government and government-funded schools during 2021-22 until the school reopens. Deputy CM and Edu Min Manish Sisodia reiterated that until the pandemic eases, schools will continue to be closed, but contact between teachers and students will be restored immediately through online and semi-online methods.
On Saturday, the Rajasthan government stipulated that from June 28, people must receive at least one dose of the vaccine to enter public places. The Gehlot administration made this provision and the new guidelines stipulate that government offices can now be open until 6 pm, and companies whose employees have been vaccinated can open another 3 hours to 7 pm. Religious places will be opened conditionally, and the marriage hall will be opened to hold marriage events from July 1.
Nearly a month and a half after the outbreak of mucormycosis in the state, Gandhi Hospital completed nearly 500 operations on Saturday to treat the infection. The hospital has a team of doctors from different specialties—ophthalmology surgeons, plastic surgeons, dentists, and neurosurgeons—who work together to treat patients.
Karnataka reported 4,272 new Covid-19 cases and 115 deaths on Saturday, bringing the total number of infections to 28,31,026 and the death toll to 34,654. A further 6,126 people were discharged that day, continuing to exceed new cases, bringing the state's total recovery so far to 26,91,123. Bangalore City accounted for 955 cases. 1,174 people were discharged from hospitals and 16 people died in the city.
The Chief Minister of Tamil Nadu, M.K. Stalin, announced that it will provide a cash prize of Rs 3 crore for the athletes who won gold medals at the Tokyo Olympics, which began on July 23. The Chief Minister announced the news at Jawaharlal Nehru Stadium on Saturday, while addressing athletes and athletes at the special Covid vaccination camp held for them. He said that the silver medalist will receive a cash prize of 20 crore rupees and the bronze medalist will receive 1 crore rupees.
According to data released by the Federal Ministry of Health and Family Welfare on Sunday, India reported 50,040 new Covid-19 cases, slightly higher than Saturday, with 1,258 deaths in the past 24 hours. As India surpassed 30 million Covid cases on Wednesday, the total number of cases rose to 3,02,33,183. This is the tenth consecutive day in the past two months that the death toll has fallen below the 2,000 mark.
Gasoline prices in the capital rose by 35 paise per litre for the second consecutive day, reaching 98.46 rupees per litre. Similarly, fuel prices in other major cities have continued to rise, with gasoline in Chennai priced at 99.49 rupees per litre. In Mumbai and Kolkata, the price of fuel is 104.56 rupees and 98.30 rupees per litre, respectively.
Many applications allow users to log in with their Google account to save the time and effort of manual registration. However, the Weibo website Twitter does not allow users to log in through their Google account. However, based on a recent discovery, Twitter now seems to be working on this feature. Reverse engineer Jane Wong discovered that Twitter is considering enabling Google login on its application.
On Saturday, the Indian duo of Saurabh Chaudhary and Manu Bhaker continued their impressive match, winning the silver medal in the 10m air pistol mixed team competition of the ISSF Shooting World Cup. Won five gold medals in the previous version, this is the sixth 10m air pistol hybrid World Cup medal for the duo in the trot. The Indian team fought hard, equalizing from 6-12 to 12-12, and then losing to Russia's Vitalina Basarashkin 12-16 in the last two series and Artem Chernosov.
On Saturday, Kanika Layak, a female Ace shooter in Jharkhand, received a new rifle for practice from Bollywood actor Sonu Sood, and her dream came true. In March, when some of her friends tweeted Sood and asked her to provide the same thing, Sood promised to give her a rifle. Imported from Germany and handed to her at the female shooter residence by the representative of Sood. The actor also talked to Layak in a video call and asked for more and more medals for the country.
Union Minister of Education Ramesh Pokhriyal Nishank said on Friday that the CBSE optional exam may be taken in August or any other date, just in case. He also insisted that the safety of students is of paramount importance to the government. "If you are not satisfied with the assessment method, please don't worry. We are ready to take the optional exam in August. Your health is our top priority," Nishank said in a recorded video message to students, teachers and guardians Say.
In order to improve the quality of school education and make teachers high-tech, the Delhi government will provide tablet computers to 2,103 new teachers appointed by the Education Bureau. Deputy Chief Minister and Minister of Education Manish Sisodia said: “The Delhi government’s vision is to provide quality education to every child, and distributing tablets to teachers is a step in this direction.
Raise funds by issuing equity to the Indian Life Insurance Company (LIC). In the regulatory documents, the housing finance company stated that it will issue 45,400 shares to LIC at a price of 514.25 rupees per share. After the allotment, LIC's shares in the company increased to 45.24%, while the shareholding ratio before the issuance was 40.31%. The company will seek shareholders’ approval for the proposed priority allotment at an extraordinary general meeting on July 19.
Data released by the Reserve Bank of India on Friday showed that as of the week of June 18, due to the decline in gold and currency assets, India’s foreign exchange reserves fell from a historical high of US$4.148 billion to US$603.933 billion. In the last reporting week, Forex Kitten soared by US$3.074 billion, reaching a record of US$600.881 billion.
Fin Min Nirmala Sitharaman discussed India's growth and investment opportunities after the government's reform measures at the Global Investor Roundtable organized by the US-India Strategic Partnership Forum (USISPF). The round table held via video conference witnessed the participation of some of the largest foreign investors, including MasterCard, MetLife, Prudential, Air Products, Dell, SoftBank, and Warburg Pincus.
The government on Friday extended various income tax compliance deadlines and stated that the amount paid by employers to employees for Covid-19 treatment will be tax-free. In addition, if an employee dies due to Covid-19, special payments received by family members from the employer will be exempt from income tax.
ICMR Director-General Dr. Balram Bharagava said on Friday that pregnant women can be vaccinated against COVID-19, but more data is needed to determine whether children can be vaccinated against the disease. "The Ministry of Health has already given guidelines for vaccinating pregnant women (anti-Covid vaccine). The head of the Indian Council of Medical Research (ICMR) was asked about the vaccinations of children and pregnant women.
Although its daily Covid-19 count is still well above the 5,000 marks, and the Delta Plus variant threatens the third wave, the Govt. of Tamil Nadu eased the lock-in rules on Friday because it relaxes outdoor activities. According to the latest state notice, the existing restrictions have been extended to July 5, but citizens of Chennai and neighbouring areas have many relaxation measures. Shopping centres, places of worship, clothing and jewellery stores, and gyms are open for business.
The Ministry of Health on Friday urged 8 states and union territories to take immediate containment measures, including preventing crowds, conducting extensive testing, and prioritizing increased vaccine coverage in areas where the Delta Plus variant has been found. These measures were addressed by the Federal Minister of Health Rajesh Bhushan to Tamil Nadu, Rajasthan, Karnataka, Punjab, Andhra Pradesh, Jammu, and Kashmir, Gujarat, and Haryana. Proposed in a letter from.
A record 210,034 doses of the anti-Covid-19 vaccine were vaccinated in Chhattisgarh on Wednesday. This is the highest single-day record in the state since the pandemic began. According to Dr. Priyanka Shukla, the node officer in charge of Covid vaccination, vaccination was carried out in 4,191 locations. She said that on June 24, a total of 158,191 doses of anti-coronavirus vaccine were given to people aged 18-44 in Chhattisgarh.
The Supreme Court’s oxygen audit team submitted a report and stated that the Delhi government had exaggerated its oxygen demand four times during the second wave of COVID-19. The team is led by Dr. Randeep Guleria, Director of AIIMS, and includes Bhupinder Bhalla, Chief Home Secretary of the Delhi Government, Dr. Sandeep Buddhiraja, Director of Max Healthcare, and Subodh Yadav, Joint Secretary of the Joint Jal Shakti Department.
When S P Singh Oberoi, an Indian businessman based in the UAE, boarded an Air India flight from Amritsar to Dubai with an economy class ticket, he was pleasantly surprised to find that the entire plane belonged to him. An official said that Oberoi holds a golden visa and is allowed to live in the UAE for 10 years. He is the only passenger on the three-hour flight of the UAE national airline to Dubai.
The New Delhi Municipal Council (NDMC) has increased the annual fees for the grant and renewal of various trade licenses for 2021-22, including licenses for hotels, restaurants, coffee shops, and dessert shops. However, the annual fee for small kiosks, stalls, dairy products stalls, water carts, etc. will not increase. The case of a five-star hotel," said a senior NDMC official.
Reliance Industries Chairman Mukesh Ambani said on Thursday that Jio and Google have jointly developed a powerful and affordable smartphone "JioPhone Next", which will be available on September 10. Ambani promises that JioPhone Next will become the most affordable smartphone in India and the world. At the Reliance Industries Co., Ltd. annual shareholder meeting, Ambani asserted that an ultra-affordable 4G smartphone is essential to India's 2G-MUKT (2G -free).
The Covid-19 weekly epidemiological update released by the World Health Organization (WHO) on June 22 stated that, globally, the variant Alpha has been reported in 170 countries, territories or regions, Beta in 119 countries, and Gamma in 71 countries. Delta is in 85 countries. Delta has now been reported in 85 countries around the world, and new countries in all WHO regions continue to report, 11 of which were newly reported in the past two weeks," the update said.
The global electronics and automotive industries are facing severe supply chain disruptions, leading to a backlog of most manufacturers. This supply chain interruption is caused by a shortage of processor chips, which are as small as a coin but provide computing power for the smallest things (such as mobile phones and video games), and for the largest machines such as space rockets and airplanes.
The West Bengal Cabinet on Thursday approved the student credit card program promised by the Trinamool Congress in its election manifesto, Chief Minister Mamata Banerjee said. With the help of a credit card, students can obtain a soft loan of up to Rs 1 million to continue their studies. The Cabinet endorsed the student credit card program. Anyone who has spent 10 years in West Bengal and want a loan for undergraduate, postgraduate, doctoral and post-doctoral study in India or abroad,”
According to media reports on Friday, a lioness in a zoo in Sri Lanka tested positive for the coronavirus. A lion in the same zoo was infected with the virus a few days ago. The Dehiwala Zoo Department said on Wednesday that a lioness named "Sheena" was confirmed to be infected with COVID-19, which increased the number of animals infected with COVID-19 in the zoo to two.
China opened its first fully electrified bullet train in the remote Himalayas of Tibet on Friday, connecting the provincial capital Lhasa with Nyingchi, a strategically important Tibetan border town close to Arunachal Pradesh. The Lhasa-Nyingchi section of the Sichuan-Tibet Railway is 435.5 kilometres long and opened on the eve of the Centennial Celebration of the Communist Party of China on July 1.
The stock benchmark Sensex rose by more than 200 points in early trading on Thursday, tracking the gains of the major index companies Infosys, TCS, and HDFC Bank amidst the influx of foreign funds. The 30-share BSE index rose 216.23 points, or 0.41%, to 52,522.31 in initial trading. Similarly, the broader NSE Nifty rose 59.95 points, or 0.38%, to 15,746.90. TCS rose the most among the Sensex portfolio, followed by Tata Steel, L&T, Infosys, UltraTech Cement, ICICI Bank, SBI, and Axis Bank.
According to official sources, the Ministry of Telecommunications allocated spectrum for 5G field trials to the state-owned telecommunications company MTNL on Wednesday, with C-DoT as its technology partner. In May of this year, Reliance Jio, Bharti Airtel and Vodafone Idea obtained spectrum for 5G trials in specific cities in India. DoT has allocated spectrum to MTNL for use in Delhi's 5G trial. It will cooperate with C-DoT to conduct trials," an official source told PTI.
The Moody (US-based rating agency) said that high-frequency economic indicators show that the second wave of COVID-19 infections hit the Indian economy in April and May. It stated in a report on India that as states now relax restrictions, economic activity in MAY may mark a low point. It lowered India's growth forecast for the 2021 calendar year to 9.6% from a previous estimate of 13.9% and said that faster COVID vaccination is essential to limit economic losses to the June quarter.
Maharashtra set a record-breaking 555,000 vaccinations on Tuesday, the highest level in a day, as driving returned to over 18 years of age. Mumbai also repeated Monday’s feat, vaccinating more than 100,000 people for the second day in a row. The state reported 8,470 new cases and 188 deaths, bringing the total number of cases to 5.98 million. The state’s daily positive rate on Tuesday was 3.9%, and 8,470 new cases were added out of the 210,000 tests conducted.
Warren Buffett (The Oracle of Omaha) will resign as trustee of the Bill and Melinda Gates Foundation. Recently, Gates Couple announced that they would divorce after 27 years of marriage, but would carry on with the foundation together, which is one of the largest charitable organizations in the world. Gates was once the richest man in the world, and his wealth is estimated to exceed 100 billion USD.
According to data from the Union Ministry of Health of India on Thursday, India reported 54,069 new COVID-19 cases in a single day, bringing the total number of infections to 3,00,82,778, while another 1,321 deaths pushed the death toll to 3,91,981. The number of active cases has dropped to 6,27,057, accounting for 2.08% of the total number of infections. The data updated at 8 am shows that the national COVID-19 recovery rate has also increased to 96.61%.
Mukesh Ambani-helmed Reliance Industries' 44th Annual General Meeting is going to be held today from 2 pm onwards. This year, thanks to restrictions due to COVID-19, the AGM is going to be held through video conferencing and other audio-visual means. Chairman Mukesh Ambani is predicted to form some major announcements including the country's first 5G phone, JioMart's grocery venture with WhatsApp, low-cost affordable laptop JioBook, and it's $15 billion affect Saudi Aramco.
NMDC, India's largest iron ore producer, produced 34.15 million tons of iron ore and sold 33.25 million tons of iron ore in the 2020-21 fiscal year. Compared with the 31.49 million tons of production and 31.51 million tons of sales in the 2019-20 fiscal year, this is an 8% increase in production and a 6% increase in sales. This is undoubtedly achieved in a challenging year. NMDC's turnover for the 2020-21 fiscal year is 15,370 crores, and the 2019-20 fiscal year's turnover is 11,699 crores.
Dr. Anthony Fauci, a leading US infectious disease expert and chief medical adviser to the White House, warned that the highly contagious variant of the Coronavirus Delta is the “biggest intimidation” to the US trying to eradicate the epidemic. He told the White House Covid-19 Response Team briefing on Tuesday that this variant was first discovered in India and was more contagious than other transmission variants and caused more serious diseases.
Dermatologists said that from fiery skin rashes to layered plaques, a few group have detailed skin-related difficulties subsequent to getting the Covid antibody, however up until now, the quantity of such cases is "little" and can't be straightforwardly associated. Fever, body throbs and shortcoming are normal responses to immunization. Specialists say that a few group whine of skin or other skin issues in the wake of getting the infusion.
The source told the news agency PTI that even if the centre cancelled the CBSE board exam, taking into account the second wave of COVID pandemic, the Federal Ministry of Education still plans to hold the pending meeting of JEE Mains in July or August. In addition, the Ministry of Education also plans to postpone NEET 2021 to September.
After US Federal Reserve Chairman Jerome Powell vowed not to raise interest rates too quickly, supported by positive global clues, India's gold price rose on Wednesday. On multiple commodity exchanges, August gold futures traded at 80 rupees, or 0.17%, to 47,091 rupees per 10 grams, compared with the previous day’s closing price of 47,011 rupees.
The Delhi government announced the results of grades IX and XI on Tuesday, in which 80.3% and 96.9% of students were promoted respectively. The results were announced by the Department of Education (DOE) based on the midterm exams, internal evaluations, and project-based evaluations announced earlier by the government.
In recent days, new coronaviruses such as Delta and Alpha in Jharkhand have infected 328 people. The state government has ordered samples of patients to be sent for genetic research within 48 hours after their deaths to help develop strategies to control their spread. Officials said on Tuesday.
New Indian web-based business rules will raise costs for every single online retailer however especially Amazon and Walmart's Flipkart as they may need to survey their business structures, senior industry sources told Reuters. India's Ministry of Consumer Affairs illustrated plans on Monday which incorporate restricting "streak deals" by online retailers, getting control over a private mark push, convincing them to name consistence officials and force a "fall-back risk" if a vender is careless.
The Kerala government on Tuesday reported further relaxations in the lockdown guidelines, while forewarning the general population against a potential third influx of the COVID-19 pandemic. The new relaxations would become effective from Thursday, Chief Minister Pinarayi Vijayan told a public interview here after an audit meeting. The Chief Minister said the spread of the illness in the state is on the decay.
FM Nirmala Sitharaman on Tuesday explored with Infosys authorities the technical errors that keep on creating issues while using the new income tax portal. Sitharaman, alongside Minister of State for Finance Anurag Thakur, Revenue Secretary Tarun Bajaj, CBDT Chairman Jagannath Mohapatra and other senior service authorities, went point by point on the issues confronting the new gateway with authorities of Infosys.
For all healthcare providers including independent wellbeing backup plans, IRDAI has said organizations need to record their items with it if home treatment is offered as an extra cover. According to IRDAI, homecare therapy is one taken at home for a disease that normally needs hospitalization also t a medical practitioner advised the insured home therapy; there is a nonstop continuous treatment of the patient being monitored by a medical practitioner during the extent of home treatment.
Fuel costs expanded again the nation over on Tuesday adding more hopelessness for the average person previously wrestling with rising food costs in the midst of contracting pay. With the ascent, petroleum costs have arrived at near hitting the century mark all over the nation expanding the extent of noteworthy excessive costs that had effectively made the fuel rate cross the Rs 100/Litre mark in specific urban areas and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.
The Shri Amarnathji Shrine Board on Monday dropped the yearly journey to the cavern altar of Amarnath situated at a height of around 13,000 feet in the South Kashmir locale of Anantnag in the wake of the overarching circumstance because of the Covid-19 pandemic. The yatra was booked to start on June 28. Lt-Governor Manoj Sinha, who is additionally the administrator of the Shrine board authoritatively declared the choice after having conversations with the individuals from the Shrine board
The country's biggest bank SBI on Monday said its central board has endorsed a proposition to raise up to Rs 14,000 crore by giving Basel-III agreeable bonds. The bonds are proposed to be brought up in Indian or US currency. “The central leading body of the bank at its meeting held today on June 21, 2021, agreed to endorsement for raising capital via issuance of Basel III debt instruments in USD or potentially INR during FY22," SBI said
The country's biggest carmaker Maruti Suzuki Monday said it will increase prices across its scope of vehicles in the forthcoming quarter to balance any rise in input costs. The Company said in a statement that over the past year the cost of the company’s vehicles continued to be adversely impacted due to an increase in various input costs. “Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise.
The retail sector including e-commerce can be the growth engine for Mukesh Ambani's owned Reliance Industries Ltd. Goldman Sachs said in a report that with a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for Reliance Industries Ltd.
Finance Minister Smt. Nirmala Sitharaman, Infosys meet on technical errors in the new Income Tax portal on Tuesday; to discuss several stakeholder inputs. Several stakeholders have provided written inputs and feedbacks highlighting the issues while facing the portal as well as areas that need to be fixed. Infosys had stated in its company’s annual shareholder meeting on Saturday that it is working to resolve the issues.
The rupee on Monday drooped to its most minimal level in almost two months, shedding 24 paise to close at 74.10 to the US dollar as members turned careful catching unfamiliar asset outpourings after hawkish remarks from the US Federal Reserve. At the interbank forex market, the homegrown unit opened frail at 74.20 against the American cash, pared some underlying misfortunes, lastly shut down at 74.10, showing a fall of 24 paise over its past close.
Maharashtra Health Minister Rajesh Tope has said that twenty-one cases of the ''Delta plus'' variant of COVID-19, considered highly infectious, have been found in Maharashtra so far, the highest nine cases were reported in Ratnagiri, followed by seven in Jalgaon, two in Mumbai, and one case each in Palghar, Thane and Sindhudurg districts, Tope told reporters on Monday.
Gold rates in India attained for the second consecutive day on Tuesday, on the rear of positive worldwide trends exactly where a pullback in the dollar lifted call for the precious metal. On Multi Commodity Exchange, gold August fates had been exchanging Rs 97 or .21 percent up Rs 47,171 for each 10 grams, more than the past close of Rs 47,074 for every 10 grams.
Following a day of delay, petroleum and diesel costs were climbed again by 25 to 28 paise on June 22, taking fuel costs the nation over to a noteworthy high, as indicated by a value notice by state-claimed fuel retailers. Petroleum cost hit an unsurpassed high of Rs 103.63 a litre in Mumbai, with an expansion of 27 paise from the earlier day cost of Rs 103.36 per litre. The city, on May 29, turned into the principal metro in the country where petroleum was being sold at over Rs 100-a-litre tag.
Sensex is up 177.62 points or 0.34% at 52752.08, and the Nifty added 74.30 points or 0.47% at 15820.80. Maruti Suzuki, UPL, and Shree Cements are the top gainers while Adani Ports, Adani Enterprises, and Reliance Industries are the most dynamic stocks. Auto, metal, and the PSU Bank list added a percent each while the midcap and small cap lists are likewise exchanging the green.
AIIMS chief doctor Randeep Guleria said that the Delta Plus variant is a mutated version of the more aggressive B.1.617.2 strain, which caused the second wave of large-scale infections in India. The strain is undergoing an additional mutation called K417N. If it is not controlled, it may become "concerned".
As the government announces further relaxation of the policy, extending market hours from 7 a.m. to 9 p.m. on weekdays, and allowing full attendance in government offices, restaurants and shopping malls across the state will begin operations on Monday. However, the guidelines issued by Chief Secretary RK Tiwari late on Saturday night clearly stated that in areas where the number of active cases exceeds 500, all relaxation measures will be immediately cancelled.
The stock benchmark Sensex plunged nearly 600 points in early trading on Monday, tracking the declines of index heavyweights ICICI Bank, SBI and L&T in the context of a sharp correction in global stock markets. The 30-share BSE index fell 596.78 points, or 1.14%, to 51,747.67 in initial trading. Similarly, the broader NSE Nifty fell 175.35 points, or 1.12%, to 15,508.
Petroleum cost was climbed by 29 paise per litre and diesel by 28 paise, as per a value notice of state-possessed fuel retailers. The climb - 27th in seven weeks - pushed fuel costs the nation over to new noteworthy highs. In Delhi, petroleum hit an unequalled high of Rs 97.22 a liter, while diesel is currently evaluated at Rs 87.97 per litre. Fuel costs contrast from one state to another contingent upon the rate of neighbourhood assessments, for example, VAT and cargo charges.
Air India has time till mid-July to challenge the claim documented by Britain's Cairn Energy PLC requesting that a US federal court compel the aircraft to pay a $1.26 billion assertion grant it had won against the Indian Government in December last year, sources said. Cairn had said in the claim recorded with the US District Court for the Southern District of New York. The court should expect the aircraft organization to take responsibility for the assertion grant, the organization had said.
India’s Forex reserves rise by $3.074 billion in the week ended. According to a weekly supplement published by RBI, it increased by $608.081. India’s Forex reserves consist of many things like Foreign Currency Assets (FCAs), Gold Reserves, Special Drawing Rights (SDR), and the situation of the Country’s reserves with IMF (International Monetary Fund). Simultaneous rise in the FCA also triggered the increase of Foreign Currency Assets. It is good for the Indian Economy.
According to the survey women now become 41% of the Global supply workforce in 2021 which is 2% higher than the last year. But 54% of the surveyors said that retaining mid-career women is a bigger challenge. Leaving the job is the main consequence of the Lack of job opportunities for Mid-Career women. Women are in various positions of the company expecting a minor decline in positions of executive level.
On Saturday Labour Ministry said that the Government has no plan of fixing the Minimum Wages & National Floor wages. The clarification came after the release of the report that the Government is trying to fix the Minimum wages & National Floor wages. Before this month the ministry said that they formed a Committee under the Chairmanship of Ajit Mishra for putting the technical inputs & various researches on the fixation of wages & Floor Price.
On Saturday Amazon India said that the products made in Punjab & Haryana like Hosiery, Sports, Goods & others become the source of the major attraction for Global customers and the demand for these products are booming. According to the company the Flagship Program of “E-Commerce” is instrumental in increasing the participation of MSME (Micro Small & Medium Industries). The export program of the company is playing a major role in expanding the businesses.
According to a report released by Motilal Oswal Financial services India’s GDP is likely to grow at 8.7% in Fiscal year 2022. According to the company we have revised our estimation due to the attack of the deadly COVID wave. The increase in Nominal GDP growth is likely to remain moderate in 2022-2023. GDP Deflator is more related to WPI (Wholesale Price Index) over the CPI (Consumer Price Index). The projection is based on extensive research.
According to a report released by Great Place to Work Institute Giant NTPC has been recognized as “Great Place to Work”. NTPC Giant PSU is simultaneously coming into India’s top 50 workplaces. This year is great for NTPC as it came 38th this year in comparison to the 47th rank of last year. GPTW consists of the various factors in determining the best workplaces like the Company’s People, Profiles & various approaches.
According to the Government sources the time period of Air India to challenge the lawsuit filed by Britain’s cairn Agency PLC which has a provision that the US federal court forced the Airline Authorities to pay USD 1.26 billion. Indian Government had won this case in December. As we know that Air India is controlled by the Indian Government. The court said the company is liable for the Arbitration award.
According to India Ratings & Research the infusion of capital in the PNB Housing Finance Limited will lead to increase in the equity buffers of the Company. According to Ind-Ra PNB is under the stressed financial situation which is due to the challenging environment of the Bank due to the COVID 19. The capital infusion is higher in comparison to the previously planned infusion. Carlyle Group is becoming the largest shareholder.
The International Monetary Fund (IMF) has settled an international carbon price floor help in limiting the global warming and achieved low carbon growth over the decade. According to Managing Director of the IMF International increase in prices of the carbon lead to innovation & transition for the renewable energy and cleaning mobility. IMF staff is publishing the proposals on how to tackle the problem of international price floor and how it affects the goal of low carbon transition
For raising tier-2 capital. UCO bank will meet with its board of Directors. In The meeting, which will be going to held on June23 2021 Board of Directors will consider the raising up of the Capital of Rs 500 crore.Tier-2 capital of the bank consists of various things like undisclosed reserves, revaluation reserves, general provision & loss reserves, Hybrid capital instruments, Subordinated debt & investment reserve account. The loss-absorption capacity of tier-2 is less in comparison to tier-1.
For Protecting Staffs & Officers from COVID 19, Department of Pension & Pensioners Welfare organized their Second Vaccination Camp. During this Camp Officers, Staffs & Their Family members in the age group of 18 -44 were administered with COVIDSHIELD vaccine. The Department has released the safety guidelines in view for the protection of their employees and their family members. Dr. Jitendra Singh was present at the occasion and various officers of the department guided the process.
CM Ashok Gehlot” Government will provide Additional funds for Development of Gram Panchayats which are performing the Task of vaccination effectively. CM ordered the officials to encourage the people in ramping up the vaccination process. Gehlot addressed through Video Conferencing and said that participation should be increased in the vaccination process up to ward level, Social Org. like NCC, NSS, etc. Influencers should take the responsibility of increasing awareness about the vaccine.
(PowerGrid) recently posted a profit of Rs40,824 crore & Profit after tax is Rs 12,036 crore on the consolidated basis ended March 31, 2021. It has witnessed a growth rate of 6% & 9% respectively. Increase in profit of PowerGrid is due to many reasons and the profits are booming simultaneously. During the Financial year 2020-21, the Company incurred the Capital Expenditure of 11,284 crores and gained assets of 21,467 crore.
CBIC said that Food supplied to Pre-Schools, Aanganwadis & Mid-Day meals will be exempted from GST. CBIC released a clarification notice after its 43rd meeting which was held on May 28 that there will be no GST on the Food supplied to the Aanganwadis, Mid-Day meal & pre-schools. Services provided to the Educational institution by way of serving food are exempted from GST irrespective of Government Grants & Corporate Donations.
RateGain, Travel Tech Services firm facilitates in revenue management of Travel & Hospitality, e-distribution & Brand Management. Officials of the Company said that the Company is planning for an IPO of Rs1200 crore. In 2015 TA Associates invested $50 million in company for providing software service products. The firm said that its services are used by many top Travel agencies in India. Kotak Mahindra & IIFL lead the IPO procedure.
BharatPe, Fintech Major made a record in March this year with 106 million monthly transactions in UPI (United Payment Interface). According to reports, FinTech Giant will raise $250 million in the next funding round initiated by Tiger Global. Fresh Funding of capital will lead the valuation of the Company up to $250 million. The company raised 50 crores in debt from Northern Arc Capital, a Digital Debt Finance Platform.
Due to the increase in prices of certain food items Retail inflation for farm & rural workers increased by 2.94% & 3.12% respectively. According to the statement released by the Labour Ministry, the point-to-point rate of inflation based on CPI-AL (Consumer Price Index For Agricultural Labourers) & CPI-RL(Consumer Price Index For Rural Labourers) reached 2.94% & 3.12% respectively. All India CPI-Al & CPI-RL increased at a noticeable margin in the month of May.
On Friday Rupee increased by 22 paise and reached 73.86 against the US Dollar which is due to the increasing momentum in Asian Currencies and reduction in prices of International Crude Oil. Domestic Currency lost 128 paise due to the continuous reduction in eight consecutive sessions. According to HDFC Securities” Aggressive Dollar selling of few banks and the IPO (Initial Public Offering), related capital inflows strengthened rupee.
Domestic shares are going for Sizeable correction but it has triggered by the Adani group which is a very strong player in the corporate world. In few months many companies have come under the scanner. Nowadays Situation of Domestic shares is related withy many concepts like Ramping up the vaccination program of the Government, Federal reserve Policy, etc. Sensex & Nifty are looking for a sizeable correction due to continuous upsurge.
9,381 placement offers for the students have been given by VIT management. Vellore Institute of Technology is among the top institutes for the highest number of campus placements. Students who belong to different VIT campuses have been offered jobs by the top companies of India & the World. VIT has its own eminence in the field of education & job placements. This is a great opportunity for students in getting job.
According to the research agency ICRA, the Central Government Production Linked Incentive Scheme for major raw materials for Drugs & other Formulations with a stimulus of Rs210 million will be instrumental in Making the Country Aatmanirbhar. According to press notes, the PLI scheme will lead to the declination of import dependence and it will increase the domestic production of High-value products. Some pharmaceutical products also need R & D investment proper research & patents.
Board of Companies can organize the meetings related to discussions of Annual Financial statements, Mergers & Acquisitions,.. , The physical mode has been shifted to Virtual mode and the Ministry of Corporate Affairs has also amended the Companies act 2013 giving special focus on “Meetings of Board and its Powers”. According to Some directors” Companies act has always the regulations related to Virtual mode meetings but the main things are the approval of Financial matters.
SEBI has barred the Shri research Services & its proprietor, Gourav Kumar, for giving unauthorized investment suggestions to the customers. The period of banning is of 2 years and the Company has to refund money to the investors. An amount of Rs5 lakh has been imposed and to be pay in 45 days. They are involved in Investment Advisory Activities without getting the Certificate of registration from the Regulator. This violated the regulations of Investment Advisory.
Domestic Equities fall due to the recently announced policies of the Federal Reserve. But now it opened positively and the Market is in the Green Zone. At 9:00 am Sensex was at 244.74 points and the nifty increased by 65 points. Asia has mixed reactions ahead of the Policy response as Bourses in Shanghai & Hong Kong ended positively but Seoul & Tokyo were trading in a red zone yesterday but these are in safer zone.
According to DGCA Private carriers like Indigo carried almost 1.6 million passengers in May & Spice Jet carried 1,99,000 passengers in the same period. As far as the Market share is concerned INDIGO & SPICEJET accounted for the market share of 55% & 9.4% respectively. In May only 2.1 million people travelled by air which is 63% less in comparison to April. The reduction in the number of passengers traveling came when Country is Battling COVID.
Domestic Equity Benchmarks jumped again for the third consecutive day after the weakness of currency happen in the Global markets. The policy released by the Federal Reserve has been settled down in the Global markets and Indian Benchmarks also adopted the condition. Banking stocks suffered losses while the IT industry is recovering from the havoc. IndusInd Bank was the lowest gainer in the Sensex pack followed by Dr. Reddy’s, Maruti, Axis Bank, etc.
According to the MSME ministry, Khadi Industries were severely affected by the COVID 19-second wave as Spinning & Weaving industries were affected all over the country. COVID 19 second wave hit the KHADI sector to a great extent as Spinning & weaving are the backbones of the Khadi industry and these are necessary for their overall growth. Reduction happened in both production & sales and lead to the overall contraction of the sector.
NASSCOM Indian IT Industry is booming and going to hire more & more staff due to its dominance in all over the world. According to a report, top Indian IT companies are going to hire 96,000 employees in 2021-22. The latest move of IT industry came after the report released by Bank of America that the IT sector is firing its employees. It is a great opportunity for qualified IT specialists to get a well-paid job.
According to the Bloomberg Billionaire Index, Gautam Adani is losing money continuously as his Personal Finances are plunging. After the release of the Media reports Gautam Adani's rankings in The Global wealth index are reducing and his image has dented. Adani Group shares are decreasing day by day and some days before the shares are competing in the stock markets with the top giants. Indian National Share Depository Frozen the accounts of three Mauritius Based Funds.
Latest Hike has increased the prices of Petrol & Diesel by Rs 6.53 per liter & Rs 6.96 per liter across the country. The main question is that International Oil prices are going down but there is no action taken by the Government as well as Indian oil Companies for a price reduction. Prices are going up simultaneously without any break in different Indian states. Brent Crude oil also witnessed the fall and came at $72.42.
India’s exports reached USD 14.06 billion from June 1 to June 14. According to the Preliminary analysis of Commerce Ministry, the main reason behind this increase is sudden improvements in Shipments of Engineering, Gems & Jewellery, Petroleum Products. Imports also came at 19.59 billion. Exports in the sectors like Engineering, Jems & Jewelry, Petroleum recorded a high growth rate which is giving momentum to exports. An increase in exports after the second wave is good.
Key Benchmarks Sensex & Nifty which are trading at the record high levels witnessed a cautious move of investors on Wednesday ahead of the US Federal Reserve policy. BSE Index came at 0.51% lower at the day end. Nifty also reduced by 0.64%.PowerGrid was the top achiever of the Sensex pack which was followed by many like IndusInd Bank, Ultratech Cement, Reliance Industries, etc. Indian variables decreased due to the US Federal Reserve Policy on Global Markets.
Union Cabinet took a major decision in Agriculture Sector to increase the subsidy Rs700 per bag For DAP Fertilizer, which is the second most well-known after urea among Indian Farmers. The main purpose behind this decision is to protect the farmers from its increasing prices which is the effect of the surge in prices of Raw materials Globally. It will lead to the burden of Rs14,775 crore to the Exchequer. The main target is Farmers Welfare.
The week ended June 13 at least the third consecutive week in which Economic Activities sequentially gained Momentum. According to the Data, the Indian Economy started to regain momentum in June but the decline of the Consumer Sentiment is likely to affect the process of Indian Economic Recovery. Unlocking procedures of different states started to increase the Economic Activities at the state level and it will facilitate the easy recovery process.
On Wednesday Microsoft Corp named its CEO (Chief Executive Officer) Satya Nadella as the new Chairman in place of John Thompson. In 2014 Satya Nadella took the premier position of CEO and contributed a lot to the expansion of the business and billion-dollar acquisitions like Linkedin, Nuance Communications & Zenimax. The top-level changes in the Giant come up after Bill Gates left the Board and emphasized the Philanthropic work of the Bill and Melinda Gates Foundation.
The United States Federal Reserve Policy Announcement affected the Value of the Rupee in the International Market against Us Dollar and it slipped by 1 paise and reached 73.32 against the US Dollar. The loss of The Rupee in the International Market is the main effect of sudden policy Announcements by the Federal Reserve. It also affected the Stock Market Indices like Sensex & Nifty and these indices witnessed a major decrease in the value.
As Indian is emerging from Devastating & Deadly Second wave of COVID 19 Honourable Prime Minister of India said that it is time for Repairing & Preparing of Health Infrastructure & Economic Scenario. As we know the poor hit hard from the Second Wave so the Government revealed the Free Food Subsidy programs and additional measures with Fiscal stimulus for the affected sectors. He said that over the past years India witnessed major destruction.
NPPA, the Drug Pricing regulator of the Country asked Various Pharmaceutical Companies & makers of medical devices to reduce the prices of products as the Government lowered the GST for the welfare of the Consumers. NPPA (National Pharmaceutical Pricing Authority) declared the notification and said that the lowering of the GST by the Government has an impact on the Maximum Retail prices (MRP) of the Drugs & various Formulations. DPCO Notice suggest that it consists of taxes.
In June India’s Fuel Demand has regained Momentum as the unlocking procedure of the Different states helped in increasing the sales but consumption is still downward. According to Data Compiled by the State Fuel retailers, Petrol sales have been increased by 13% while diesel consumption was at 12%. Fuel Demand becomes normal in March 2021 but the sudden onset of the virus has affected the sector to a great extent. It is good for recovery process.
Central Government is planning for faster green clearances for operationalization of Mining projects including coal. It is the urgent need of the sector as Mining Projects in different states find it very difficult for clearances such as Forest & Environment Department. For faster Environment Clearance & Forest Clearance Ministry of Environment & Forest is doing relentless work. According to the Higher Officials of the Ministry EC & FC clearances can be easily resolved faster.
According to the reports of the Retailer Association of India (RAI), there is a 79% decline in the Retail Sales of May in comparison to the Pre-COVID levels in 2019. The major reason behind this fall is the lockdowns imposed in various states. Retailers across different parts of India showing disappointment due to the major reduction. In a Statement, RAI said that various states are likely to open the retail operations in a graded manner.
For Development of Sea Plane Services in India A Memorandum of Understanding (MoU) between the Ministry of Ports, Shipping & Waterways & Ministry of Civil Aviation. The Minsters of these portfolios were present at the time of Signing the Memorandum. Settling of this MoU is a historical step in the realization of seaplanes projects in India. The Memorandum emphasizes the Non-Scheduled & Scheduled operations of seaplane services in territorial Jurisdiction of India.
In May, India’s exports increased by 69.35% and reached 32.27 billion. The major reason behind this upsurge is the continuous growth in the sectors like Petroleum, Gems & Jewellery & Engineering but the Trade deficit is widening. India’s imports in May 2020 & May 2019 were at USD 22.2 billion & USD 46.68 billion respectively. The trade deficit in May 2020 was at USD 3.15 billion. The rise of exports are due to many reasons.
According to the State Agricultural Minster, Nagaland has the highest number of beneficiaries and the Medchal-Malkajgiri is at the lowest. Under the Rythu Bandhu scheme, the State Agricultural Department has decided the disbursement of Funds to the farmers with investment support of Rs 5000 per acre of land. State Finance Minister has decided to facilitate the disbursement of funds faster. Reddy also thanked K. Chandrashekhar Rao
Many drug manufacturers have applied through the application for starting a program of Rs15,000 crore worth started on Monday. Central Government has expanded the Performance linked Incentive (PLI) scheme to Pharmaceutical Sector for achieving self sufficiency in drugs. Once known as The “Pharmacy of the world” the Country faced many challenges during COVID waves due to the insufficiency of the Pharmaceutical sector. With great Manufacturing capacities, India is the Largest Producer of Genetic D
The outcomes of US Federal Reserve Policies led to the fall out of Sensex by 90 points on Wednesday. Nifty also fell by 23.55 points or 0.15%. The Sensex Heavyweights were PowerGrid which also fell by 1 % and it was followed by various giants like Dr Reddy’s, Titan, HDFC bank, Reliance Industries. The reduction is also witnessed in Shanghai & Hong Kong while Seoul was gaining with trade. The latest Federal Policy also affected the US equities.
To ensure enough supply of Ethanol for making E-20 fuels by 2023. The Center said that it has increased the Ethanol production by use of grains and allocated almost 78,000 tonnes of rice by State-Owned FCI. The government said that it has approved various facilities for performing the procedure. It is a great push for increasing the ethanol distillation by 2025 as the Administration is targeting 20% ethanol blending with petrol. Achieved target is 8.5%
PANASONIC INDIA, Well-Known Diversified company in Technological Industry introduced the latest range of Air Conditioners which is enabled with unique specialties for fighting the COVID virus. TEXCELL Laboratory France has Finalized the Air conditioners by proper Testing & Trials. According to the Departmental Head Air conditioners PANASONIC INDIA “Sales for our Latest Model gained major consumer attraction.” The Air Conditioners can eliminate the presence of various bacteria, Pollutants
On Wednesday prices of Petrol & Diesel prices increased again with a margin of 25 paise & 13 paise respectively. After one-day pause prices hiked again and this is the 25th hike in the prices of fuel. In Delhi petrol has reached Rs96.66 per liter and diesel comes at Rs87.28 per liter.In Mumbai petrol & Diesel came at Rs 102.82 & Rs94.84 respectively. The prices of petrol & Diesel are increasing day by day.
Shares of Jubilant Foodworks Limited increased by 5% after the company reported its consolidated Net Profit for Fourth Quarter ended March 2021. Jubilant Food works Limited which operates the brands like Dominos Pizzas & Dunkin Donuts is gaining a reputation in its domain. In a regulatory Filing, the Company said that it has witnessed a profit ofRs32.33 crore in January –March Quarter in 2021. JFL Board of Directors also decided about the dividends and the various recommendations.
The tremendous rise in retail inflation has increased the tensions of RBI (Reserve Bank of India). The simultaneous rise in the prices of protein-rich items & Edible oils has increased the Retail inflation to 6.3%. Central Government asked the RBI to keep the inflation at 4 % and a margin of 2% on either side. There is a continuous rise in the Wholesale Price Index and Consumer Price Index by 12.94% and 4.23% respectively. The previous surge in Retail prices was at 6.93%.
On Monday Commerce & Industry Minister Piyush Goyal said that World has to separate the trade policy & Green goals. He said that I hope that the developed countries of the World will not play the interchange of trade & green policy. He is also expecting that the Giant credit rating agencies like IMF(International Monetary Fund) would support the nations in these desperate times and do not determine the developed & less developed companies.
Indian Overseas Bank, State-owned witnessed a major increase in the profits after tax and reached Rs350 crore. It is basically due to the higher growth in other income & improvement in the asset quality. According to the Managing Director & CEO” There is a significant improvement in all the financial parameters but our Asset Quality has witnessed a major declination.” Bank has revealed a yearly net profit of Rs831 crore for the year ended March 31. In FY21 it witnessed a loss of Rs 8,527 crore.
The advent of COVID led to the production of effective vaccines in less time like COVAXIN, GenovamRNA program, etc. India has also approved various vaccines. At India-US Pharma summit at Boston. BIOCON chief Kiran Mazumdar said that COVID 19 has created an Ecosystem of innovation in India. According to PTI Mazumdar cleared that the whole motive is to generate an innovative ecosystem in India which COVID has created much before.
IN the last 5 years Government Hallmarking Centres have increased by 25% and with the existing capabilities of certification Centers, the country has the potential to hallmark about 14 crore articles per year. Hallmarking on Gold jewelers & their related items set to become essential from Tuesday as the Government has already extended the deadline to June 1. Proper Committee which is headed by the Director of BIS (Bureau of Indian Standards) will review the proper implementation of this policy.
According to sources, WTO (World Trade Organization) Chief has organized a key meeting on July 15 of various Trade Ministries to decide about the subsidies given in Fisheries. The motive is to Finalize the negotiation faster so the agreement can be prepared for the forthcoming meeting of the WTO in December. Negotiations are in the faster mode. The main motive of these negotiations is to establish a mechanism for sustainable Fisheries subsidies
Leading exchanges of BSE & NSE will stop their trading activities in DHFL (Dewan Housing Finance Limited) shares from Monday. The motive of the decision is to avoid the Market complications as the National Company Law Tribunal Finalized the resolution plan of Piramal Group for the DHFL. The resolution plan has the provision of delisting the shares. As per the notice, the value was attributable to equity shares as per the estimated liquidation value of the company under the provisions
Former RBI Governor and Veteran Economist D.Subarao said that the condition is going towards “Extreme Unevenness” as the income inequalities between the upper segments of the society & lower segments of the society are increasing day by day and it will affect the Future Growth prospects of the country. He said it is an Uneven Recovery as the increasing liquidity & Foreign Fund inflows are soaring the stock market prices of the country despite the COVID disruptions.
As we are aware of the plan that Central Government has decided to privatize at least two State-Owned banks this fiscal it will also consider the front load capitalization of state-owned banks so their balance sheets remain strengthened amid the possible sales expectation. Front Loading of capital will help the Public Sector Banks incoming at the road of recovery as the COVID pandemic pressurized the Banks from Credit side and the implementation of the Government policies.
The second wave of the pandemic has affected the production & sales of the vehicles. A slight increase in the export orders and the relief measures decided by the Government for the Manufacturing & Automobile Industries helped small automobile industries to recover from the pandemic shock. The decision of some states to open the factories & various industries with proper precautions give hope to India's Manufacturing sector. Small Industries involved in these manufacturing activities
In a statement released on Monday Power Giant NTPC said that it is going to establish Hydrogen Fuel Cell-based pilot projects and showed a Global Expression of Interest(EOI). By these projects, NTPC is looking forward to strengthening its footprints in Global Green & clean fuel energy. It will collaborate and commercialize the projects with other companies. The power giant is looking to use Hydrogen based fuel cell electrolysers for the motive of establishing power backup systems in the future.
Equity Benchmarks Sensex dropped over by 185 points in starting trade on Monday as Index Heavyweights like HDFC twins, ICICI Bank & SBI witnessed a major decrease in their shares. Bajaj Finance witnessed a major decline and get down by almost 1.65%.In contrast to ONGC, TCS Bajaj auto was the top gainer in the list. FII(Foreign Institutional Investors) are the major buyers in the capital markets as they brought shares of Rs 18.64 crore on Friday.
According to the Confederation of All India Traders (CAIT) that the foreign-funded e-commerce companies are indulged in unethical business practices for many years and the main motive of these practices is to control the major portion of Industry or dominate the Industry. In the above lines, the premier agency has launched “e-commerce purification Week” and it gets supported by major Indian traders. During this week the trade organizations will hand the memorandum
According to the CEO of the insurance company in the upcoming 12-18 months Axis Bank is likely to increase the stake by 20%. Axis Bank has two subsidiaries Axis Securities Limited & Axis Capital Limited and collectively took the stake of Max life insurance approx. of 12.99%Axis Bank is likely to increase the stake in parts as we see the current stake is about 13% and the remaining 7 will be in the upcoming months.
Foreign traders said that the weak Asian Currencies and the greenback in the international markets decreased down the rupee in early trade. The simultaneous increase in crude oil prices and the weak domestic equities lead to the decrease in rupee value against the US dollar and it finally came at 73.21. According to Reliance Securities, Asian Currencies witnessed a fall on Monday due to continuous slowdown.
In a G7 Meeting at Cornwell, Climate Change is the burning topic Leaders of the richest countries of the world have agreed on various theories and said to achieve the target of Net Zero Emissions by 2050. It will lead to change in the methods of working by the industries related to Fossil fuels. Recently, a report released by International Energy Agency and said that the Countries should ban Projects related to fossil fuels.
On Saturday it was regarded as the “Phenomenal Move” by the Central Government of Giving the subsidy under the FAME 2 scheme. This is an increase of 50% in subsidy and it will increase the adoption of Electronic Friendly vehicles. Central Government has revealed the partial; notification of the FAME scheme (Faster Adoption & Manufacturing of Electronic Vehicles) in India. The demand incentive of Rs15000 for two-wheelers is a game-changer. The decision will boost the EV sector in India.
As India recently witnessed the second deadly wave of COVID pandemic, the Indian Government said all the Ministries & various Departments to reduce the expenditure by 20%.Expenses like domestic & foreign Travel, Overtime Allowance, Office expenses, etc. The official notice was released by the Department of Expenditure which comes under the Finance Ministry on June 10. Besides these expenses Expenditure department also notified the Ministries for expenses in Royalty, Publicity & others.
According to India Ratings & research agency, Low base effect is the main reason behind the acceleration of the sector in May. Acute therapies and various types of drugs vitamin tablets which were sold in huge numbers in the COVID times helped the pharma sector in attaining sustainable growth in desperate times. According to estimates of the research agency the market of the pharma sector in India will grow at 8-10% in FY 2021-22 and it is beneficial for the economy.
Karnataka High Court Dismissed the petition filled by Amazon & Flipkart, in the above lines, CAIT(Confederation of All India Traders) set communication with Union Commerce Minister Piyush Goyal for initializing of the direct investigation by CCI(Competition Commission of India) in this case. CAIT also said to issue a press release that FDI policy will continue with its monitoring system and the regulations of the Country remains the same no one can dare to break the law.
On Saturday Indian power Corporation Limited revealed that there is an increase of 60% in the after-tax profit and it reached almost Rs26.66 crore in the Year ended 31 March 2021. Indian power increased its sales by 2 million in 2020-21 despite the severe effect of the pandemic. According to the Company, We have added the number of consumers across voltage levels and it leads to the acceleration in sales growth from the second quarter onwards.
Information Technology Giants TCS & Infosys contributed a lot in increasing the market valuation as Five of the top 10 companies added Rs1,01,389.44 crore The heavyweights in the market valuation are the reliance industries, TCS, Infosys, Hindustan Unilever while HDFC, ICICI Bank, State Bank of India witnessed sudden fall in the market valuation. TCS is the biggest gainer and a major contributor to market evaluation among the top 10 companies.
Bad news for the contractual employees as SAIL decided to dissolve its Kolkata-based RMD headquarters. It is shocking news for the employees working under the raw material division of SAIL. The RMD division of SAIL will be shifted to Rourkela and the contractual employees working in the Kolkata-based RMD headquarters would be shifted to this division. Section of the employees working in the SAIL has approached the high officials & West Bengal Chief Minister.
Union Finance Minister Nirmala Sitharaman announced a significant tax deduction on the COVID management equipment like Medical Oxygen, Oxygen Concentrators, Bipap machines, High Flow nasal canula, Pulse oximeter, Ventilators & various types of medicines from 12% to 5%. The cut in the taxation on the COVID management equipment is a game-changer in fighting the virus effectively. India witnessed a severe shortage of medical equipment
On Saturday, Adani Enterprises Limited incorporated Adani Industries Limited which is a wholly-owned subsidiary to manufacture all types of cement. In a form filled to BSE, it said the incorporated company will commence its business and it has owned on June 11, 2021. The new company will work in all domains of cement whether it is manufacturing, producing & processing, etc. The company will look forward to the expansion process of the cement domain in various parts.
To empower the farmers through the sub-scheme of Agricultural Mechanization India Central Governments has released the funds to different states for the fulfillment of various purposes in agricultural activity. Activities for which the funds were allocated are the establishment of the custom hiring centers, Farm-Machinery banks, High tech hubs, and the allocation of different agricultural machinery for optimal growth.
COVID has affected the economic volatility and reduced the sales of passenger vehicle sales by over 61%. Base year effect, Low rate interest, and additional Government give an increase to the demand for Passenger Vehicles in May. The sales of Passenger Vehicles has increased in the period of May in comparison to last year. The Society of Indian Automobile Manufacturers said that these data include some key players of the market including Tata Motors.
RBI has extended the period of Risk-Based Internal Audit systems to enhance the quality of auditing and choosing the HFC(Housing Finance Companies).RBI has put additional measures in the system of Risk-Based Internal Audit systems to choose NBFCs(Non-Banking Finance Companies) and urban cooperative banks by March 31, 2022. Provisions will be applied for all deposit HFCs(Housing Finance corporations) & Non-Deposit HFCs(Asset size of 5000cr & above) irrespective of their size of business operation
Piyush Goyal has several key Portfolios of Ministries like Railways, Commerce & Industry, Food & Public Distribution. He reviewed the monsoon preparation of Indian railways on 10.06.2021. He said that Railways needed to fully prepare for the upcoming monsoon. He asked IIT Bombay and other prominent institutions of the country to study the architectural & civil framework of Indian Railways to cope up with the Monsoon.
The GST council will meet on Saturday Under the Chairmanship of Union Finance Minister Nirmala Sitharaman for deciding on the effective taxation rate & Supply of the COVID essentials like Drugs & Medicines etc. Medicines for the black Fungus disease will also be monitored under the subsidy rates. COVID management things are Testing Kits, Essential drugs like steroids & Remdesivir, Ventilators, Oxygen Cylinders, etc.
Economic Offences Wing (Chennai) arrested the Former Chairman of IL&FS Ravi Parthasarathy. IL&FS group has more than 500 companies. Ravi Parthasarathy was the mastermind of scams worth of crore including IL&FS & ITNL. The FIR(First Information Report) is filled by 63 Moon Technologies which lost several crores of rupees in this scam. FIR is registered under the viable sections of the Indian Penal Code.
The changes were considered due to the recommendations of the Indian Banks Association which was set up in June 2019, it is basically to analyse the entire gamut of ATM transactions & their process. On Thursday RBI released new guidelines for cash withdrawal. It is an increase in the interchange fee per transaction, with no permission limits. According to Central Bank “ The recommendations of the committee were examined and the latest guidelines regarding the processing of ATMs taken.
In different medical colleges of Madhya Pradesh, Coal India major NCL(Northern Coal Fields) decided to distribute Rs 10 crore for the setting of the oxygen plants. Northern Coalfields Limited CMD & Director of the company handed a cheque of Rs10 crore to Shivraj Singh Chauhan in MPs capital Bhopal. NCL said that the company is going towards fulfilling the objectives of CSR(Corporate Social Responsibility) and maintaining coal stability in these desperate times.
According to the weekly supplement of RBI India’s forex reserves have crossed the mark of $6billion and reached $6.842billion.The largest part of the foreign reserve which is FCA is also gaining momentum to the forex reserves. Gold reserves & SDR in the country fell but FOREX reserves are increasing after the unlocking process of the government, the main reason is the infusion of foreign capital and bullish stock markets which is giving power.
Bad news for Zanmai Labs Limited (WazirX), as ED(Enforcement Directorate), has issued a show-cause notice to the company and its directors under the FEMA act (Foreign Exchange Management Act). WazirX is a prominent crypto exchange platform and recently collaborated WITH moneycontrol. The exchange platform is found to be involved in Chinese online betting and the investigation is initiated under the FEMA act (Foreign Exchange Management Act).
On Thursday Government of India that the Coal Sector in the country is witnessing unfavourable situations in international markets due to many reasons. This is the major cause that the Global Companies are not participating in the Commercial Coal Mine auctions. The issue come to notice after COAL Minister Prahlad Joshi said that there will be the participation of Global players in the next round of auctions.67 blocks are for sale in the process.
According to the rating agency ICRA Indian GDP growth in the fiscal year, 2022 will be 8.5%. The year-on-year growth of GDP and GVA (Gross Value Added) will remain 8.5% & 7.3% respectively. ICRA is expecting the GDP growth will exceed the GVA by 120 points due to the value of the taxes & subsidy on products. ICRA also considered the food subsidies which is given by the Government of India. ICRA said that the Second COVID wave will impact consumer sentiment.
The export of India’s Agriculture & Allied products witnessed a tremendous increase of 17.34%. Huge growth has been seen in the exports of cereals, non-basmati rice, millets, maize, and different coarse grains. The largest market for India’s agricultural products is in the US, Bangladesh, UAE, Vietnam & Saudi Arabia.18 Indian states have also finalized the implementation of the New Agriculture export policy.
The new policies of the Central Government in the e-commerce domain have increased the growth rate of India by 51% as the Fashion Industry has full potential to push the economic growth of the country. Brands have witnessed an increase in orders after the unlocking process of the Central government. Kidswear witnessed a growth of 200% growth rate in online growth. These numbers are released by “Fashion e-commerce Report” which is published by Unicommece .e-commerce focused supply chain.
On Thursday the Finance Ministry released its third monthly installment of revenue deficit to 17 states worth 9,871 crores. This is the third monthly installment of Post Devaluatiopn Revenue deficit. The central government provides the grants of PDRD under article 275 of the Indian Constitution. These grants are released as the recommendations of different state Finance commissions to tackle the gaps of revenue accounts of different states after the post devaluation period.
With Uncertainty in Asian Markets Sensex's value has decreased due to the instability in the stocks of Pharmaceutical & Financial stocks. BSE Sensex increased by 358.83 points. For a full day, it witnessed the swing of Highs & Lows. Bajaj Finance comes at the top in the Sensex Chart NSE Nifty also witnessed a surge in its values. After the release of US inflation data and policies of the European Bank, Asian Investors are optimistic about Indian Equities & investing aggressively.
The total Vehicles Registrations of India in May stand at 54.79 it was released by the Federation of Automobile Dealers Association (FADA) and showed a major decline. There is a reduction in tractor sales in urban areas. Personal vehicle registration also witnessed a major decline and come at 63.70%.TWO wheeler registration fell by 52.52%. The COVID has affected the Retail Sector in its various segments
Diesel prices are also going around Rs100 a liter and it is the first time in the country. In Rajasthan Ganganagar, it is at Rs99.80 per liter. The city witnessed a major spike in petrol prices and it is highest in the country at Rs106.94 per liter. There is no pause in the uptrend of the fuel prices owing to the instability of International crude oil prices and in some states, it has crossed all the price borders & limitations.
BookMyShow, Online Marketplace laid employees during desperate COVID times which make almost 18.6% of its workforce. Currently, the company has 1,068employees. Ashish Hemrajani CEO of BookMyShow said that we fired 200 employees from our various offices worldwide due to a decrease in the business of the Company due to the attack of the COVID pandemic. He said that the Second Wave has severely affected the operations. He tweeted for asking for the help of the laid-off workers in another company.
BookMyShow, Online Marketplace laid employees during desperate COVID times which make almost 18.6% of its workforce. Currently, the company has 1,068employees. Ashish Hemrajani CEO of BookMyShow said that we fired 200 employees from our various offices worldwide due to a decrease in the business of the Company due to the attack of the COVID pandemic. He said that the Second Wave has severely affected the operations. He tweeted for asking for the help of the laid-off workers in another company.
As we know that Developing Economies of the World push the proposal in WTO to ease the COVID 19 patent rules & other regulations as it will help gain access to COVID vaccines to various countries. Developed & richer countries opposed the proposal. On Wednesday World Trade Organization (WTO & its member countries decided to intensify the talks over COVID 19 medical products rules & regulations. The main goal is to put the COVID vaccines in the mainstream world.
According to a Report, Indian can save its logistics worth Rs311 lakh crore by 2020 to 2050 utilizing the clean & cost-effective mode of transportation and it can save 10 gigatonnes of cumulative carbon dioxide emission in three decades. The report is named “Fast Tracking Freight in India: A Roadmap for clean & Cost effective.” As the demand for Goods & services are increasing and it leads to increase the demand of fright services.
On Wednesday Government has upgraded subsidy benefits under the amended New Investment policy 2012 to RFCL (Ramagandam Fertilisers & Chemicals Limited) which is located in Telangana. The decision was taken under the Chairmanship of the Honourable Prime Minister. After the meeting, Prakash Javdekar addressed the media & said “The amended New Investment Policy act 2012 which was brought in 2014 is generally applicable to factories which are established till 2019, RFCL was established in 2021
This service is made for WhatsApp and it has other features like recharging, making payments, getting the answers, etc. Giving brief details about the service Reliance Jio said that its users can know the availability of vaccines by messaging” Hi” to 7000770007. It is not like another online portal on this platform users can check the availability of vaccines by searching the vaccine centers. Till now India has administered 240 million vaccine doses to all its eligible beneficiaries.
As the unlocking process of the Central Government has started and Automakers started to make their targets high as Maruti Suzuki, India’s top carmaker is likely to produce 1,65000 -169000 cars in June and increased its capacity to 1,74,000 vehicles in July. The top car maker company is hoping that sales will likely boost in the upcoming months as various State Governments started graded unlocking. The company will expand its manufacturing capacity in the upcoming time.
On Wednesday Finance Ministry said that faster vaccination coverage of the country’s population is essential TO REGAIN ECONOMIC RECOVERY. As the economic activities are related with lockdowns & pandemic. To improve the investment cycle in the upcoming time vaccine prioritization and the measures declared by the Central Government & RBI(Reserve Bank of India) needed faster implementation. State-level lockdown restrictions reduced the growth of Industrial & Manufacturing activities in the current
US President’s House Officials on Wednesday said that the WHITE HOUSE cancelled the orders of the TRUMP era to ban popular apps like TikTok & Wechat and now they will conduct their research on the topics of National Security & Cyber breaches. The order describes the new “Evidence-based ” research analysis of these apps according to their manufacturing & dissemination of Information. The senate Passed the bill with the motive of increasing semiconductor production in the US.
On Wednesday Central Government has procured 418.47 lakh tonnes of wheat in the current marketing year and it cost 82,684 crores. The tremendous procedure of wheat procurement has happened during the farmer's protest against the Farm bills. Farmers are continuously protesting against the three latest farm laws and they want a guarantee of MSP (Minimum Support Prices). The procurement process of wheat is going smoothly in the states like Uttar Pradesh, Bihar, Rajasthan, Gujarat, etc. Government p
TATA DIGITAL, a wholly-owned subsidiary of Tata Sons acquired a major stake in 1MG Technologies Limited, Online Healthcare Marketplace. The Financial details of the transactions are not disclosed. In pandemic times Telemedicine, E-Diagnostics, E-Pharmacy, E-consultation are becoming a major part of the Healthcare ecosystem and the need of the current scenario is the Digitization of the Healthcare System.
We are witnessing the bursting of stock markets as Equity benchmarks Sensex & Nifty are creating daily records due to the infusion of a large amount of money by mutual fund investors in various Equity schemes Net inflows reached 14 month high worth of Rs9,235.48 crore in May. Simultaneous increase of net inflows in Equity Mutual fund schemes show the optimistic nature of investors in these desperate times. Increasing confidence of people in the stock market is due to high performance.
According to the recently conducted survey of Mercer Mettl, 60% of the companies are looking to hire fresh talent for business operations & different positions. HR(Human Resource) managers are optimistic and hoping to return to the optimal hiring levels of the companies. Now the interview mode is not physical in the case of many companies it becomes digital and Virtual Hiring is the most emerging method which is used by the HR manager in these desperate times.
The latest agreement between the EU & India will benefit the domestic exporters, as the EU is one of the biggest traditional markets of the country. Trade Promotion Council of India (TPCI) organized a panel to discuss the EU-India trade relations. The Indian industries are in an optimistic mood as the EU is the biggest traditional marketers for exporters and it has the potential to give a major turnover. India needs to study the EU-Vietnam & EU-MERCOSUR agreements deeply.
According to World Bank” In the fiscal year, 2022 economic situation can be recovered by policy support, increase in the industrial & manufacturing activities, rural development, providing fiscal stimulus to COVID affected sectors, Increase expenditure on infrastructure & Health, etc.” World Bank decreased the prediction of growth from 10.1% to 8.3% as the second wave of COVID 19 devastated the economic recovery process
As Enforcement agencies are going to take action against the people involved in illegal currencies, RBI asked banks to keep the CCTV recordings of their branches which were recorded during the demonetization period. Based on these inputs Enforcement agencies can track the persons who are involved in the case of illegal currencies. The government has introduced the Demonetization policy on 8 November 2016. The main motive behind this decision is to curb the Black money transactions, Hawala, etc.
Despite the desperate conditions of the Indian Economy as various International rating agencies decreased their ratings but the prioritization of the vaccination process, less number of COVID cases are pushing the stocks markets to grow day by day. At 7.40 am SGX Nifty was at 10 points higher and come at 15,778. Yesterday India reported COVID cases of less than 1 lakh in a day and mortality rates are also reducing.
Due to strong Foreign Capital flow Equity Benchmarks, Sensex & Nifty is going high again on Wednesday and started as a positive trend. ONGC is the Sensex heavyweight and it was followed by SBI, HDFC twins, Dr. Reddy’s, etc. According to the Head of Reliance Securities “There is a continuous positive trend in the Domestic Equities due to the Unlocking process of the Central Government, Increasing the speed of Vaccination In urban & rural areas and recovery measures of the Central Government.