Business

16 Feb

Centre Closely Monitoring Agriculture Credit Given By Banks: Finance Minister

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Finance Minister Nirmala Sitharaman said on Saturday that the government is monitoring farm credit given by banks in rural areas, adding that she expects to meet the increased target of Rs 15 lakh crore for the next fiscal.The government in Budget 2020-21 has raised the farm loan disbursal target by 11 per cent to Rs 15 lakh crore for the next fiscal and allocated Rs 1.6 lakh crore to implement various plans in agriculture and allied sectors as it chases the goal of doubling farmers' income by 2022.The government has allocated Rs 75,000 crore for the PM-KISAN scheme for the…

16 Feb

Telecom Firms Warned Of “Necessary Action” If Dues Not Cleared Immediately

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The government may take action in terms of encashing the bank guarantees of telecom service providers (TSPs) in case they "immediately" fail to pay their spectrum usage charges and the licence fees in compliance with the Supreme Court order of October 24 last year.In letters to different telecom circles, the zonal telecom units of the Department of Telecom (DoT) have not explicitly raised the issue of encashment of bank guarantees in the communications to the telecom service providers, but mentioned "necessary action under the Licensing Agreement without any further notice" which indicates towards two courses of action -- either encashment…

16 Feb

Business Development Awareness Programme

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MSME plays a vital role in economic structure and employment generation of West Bengal. West Bengal accounted for 11.62% of Micro Small & Medium Enterprises and holds the 2nd Position in the Country. West Bengal has highest number of MSME in the country with 52,69,814 nos. of Units.The West Bengal Small Industries Development Corporation Ltd was established in the year 1961 under the aegis of MSME Department with the sole objective of promotion infrastructure and extending marketing support to the MSME having low investment capacity and but high potential in respect to employment generation. Over the years WBSIDCL has been…

12 Feb

Over 6.5 million (65 lakh) guests booked an OYO in January 2020

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OYO Hotels & Homes, a young hotel startup & the world’s leading chain of hotels, homes, and spaces, announced today that it has hosted 6.5 million guests in January 2020 alone in India. The company continues to deliver on its promise of doubling down efforts in providing enhanced customer experience as part of its 2020 priorities. Following improved communications and process changes, the company has also earned back the trust of over 100 asset owners across the country who have rejoined the OYO family in January. Witnessing a strong start to the year, OYO’s franchise hotels business has also maintained…

10 Feb

Two-wheeler industry need more time for positive turnaround as Hero MotoCorp reports revenue of Rs. 6,997 Crore in Q3 of FY’ 20

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Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters today reported it’s financial performance for the third quarter (October-December 2019) of the financial year 2020. The company’s Revenue from Operations for the quarter stood at Rs. 6,997 Crore as compared to Rs. 7,865 Crore in Q3 FY’19. Consolidated Revenue and PAT stood at Rs. 7075 Crore and 905 Crore respectively for the quarter. EBIDTA margin for the quarter stood at 14.8%. Hero MotoCorp today also announced an interim dividend of 3250% amounting to Rs. 65 per share. Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “The two-wheeler industry continues to face challenges amidst an…

04 Feb

Paytm launches All-in-One Android POS for small businesses and merchant partners

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India's largest payments platform Paytm (owned by One97 Communications Limited) today announced the launch of All-in-One Android POS device for merchant partners across the country. This device helps merchants to accept payments through Paytm Wallet, all UPI based apps, Debit & Credit Cards and most importantly - Cash. Besides accepting payments, merchants will also be able to generate GST compliant bills and manage all transactions and settlements through their 'Paytm for Business' app at one go. Paytm All-in-One Android POS is a fully-loaded payment acceptance device with many industry-first features & services. The android based device comes with a full-size display…

03 Feb

EVs should become cheaper than traditional vehicles within three years

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NITI Aayog CEO Mr Amitabh Kant today said that electric vehicles should become much cheaper than combustion vehicles in three years. Mr Kant further said that the price of battery packs of EVs is expected to fall to $76 per kilowatt hour (or unit) in three years, down from the present day $156/unit. At that point, he said, even the upfront cost of electrical vehicles will become cheaper than combustion vehicles, with the total cost of ownership already competitive. Mr Kant was speaking at the Mobility Talk Corporate Conclave at the World Sustainable Development Summit 2020, TERI’s annual flagship event…

30 Jan

Common Facility Center to enhance the productivity of small gem and Jewellery units

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Ground-breaking ceremony of Common Facility Centre (CFC) at Bow Bazar in Kolkata was held today in the presence of Smt. Rupa Dutta (Economic Advisor, Ministry of Commerce & Industry, Government of India), Shri Senthil Nathan (Deputy Secretary, Ministry of Commerce & Industry, Government of India), Shri Pramod Agrawal, Chairman, GJEPC; Shri Prakash Pincha, Regional Chairman, Kolkata, GJEPC, along with others. GJEPC is setting up a Common Facility Center at Bow Bazar with a view to enhance the productivity and quality of products, especially the small gem and Jewellery units set in Bow Bazar and its surrounding areas. GJEPC with the support of the Ministry of Commerce and…

30 Jan

OYO’s Corporate Channel etches strong growth trajectory; Records 80% y-o-y increase in revenue

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OYO Hotels & Homes, the world’s leading chain of hotels, homes, and spaces has witnessed a strong growth trajectory in its corporate bookings. The company’s corporate channel witnessed an 80% increase in revenue on a y-o-y basis. Today, OYO’s corporate channel contributes to over 30% of the hospitality company’s total revenues and it counts Utkarsh Small Finance, Think & Learn (P) Ltd. (BYJU’S) and Extramarks Education among its 8,400+ clients. This remarkable growth further reiterates OYO’s commitment to scaling up its engagement in the corporate travel segment. With over 8400 active corporate accounts, OYO caters to the travel needs of…

29 Jan

Divine Solitaires’ exciting solitaire offer

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Divine Solitaires is pleased to announce the launch ofits exciting solitaire jewellery exhibition at the reputed Mahabir Danwar Jewellers store inSalt Lake, Kolkata. The Buy One Get Two solitaire jewellery exhibition which will commence on 30th January, 2020 will go up to 3rd February, 2020. Mr Jignesh Mehta, Founder & Managing Director, Divine Solitaires,Mr Arvind Soni, Director, Mahabir Danwar Jewellers and Mr Sandeep Soni, Director, Mahabir DanwarJewellers, interacted with the press at the event. Since its inception in 2006, Divine Solitaires has been the first solitaire brand in India to specialise in loose solitaires and solitaire jewellery. The brand has…