Economy

28 Mar

MHA issues order to extend AFSPA in Nagaland

editorEconomy

The Armed Forces (Special Powers) Act, 1958 (AFSPA) has been extended in eight districts and five Police stations as disturbed areas of Nagaland. According to the sources, the Ministry of Home Affairs has announced through a notification that the force will be continued for six months or more. Details about the extended AFSPA districts are Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, and Peren in Nagaland. Police stations included as disturbed areas are Khuzama, Kohima North, Kohima South, Zubza, and Kezocha in Kohima district; Mangkolemba, Mokokchung-I, Longtho, Tuli, Longchem, and Anaki 'C' in Mokokchung district; Yanglok in Longleng district; Bhandari,…

27 Dec

Adani family to invest ₹9,350 cr in Adani Green

Priyanka BhowmickBusiness, Economy, FinanceAdani Group, Business

Adani Green Energy (AGEL) on December 26 said its board of directors has approved a priority issuance of warrants to promoters for an amount of Rs 9,350 crore at Rs 1,480.75 per share. The funds will be used to reduce and accelerate capital expenditures, the company said. It added that AGEL is now fully equipped to achieve its target of 45 GW by 2030, with 20.6 GW of installed capacity, over 2,00,000 acres (equivalent to 40 GW of additional capacity) of secured land in India's resource-rich areas, and an additional equity infusion of Rs 9,350 crore which fully funds this…

06 Sep

Interest of around 4 percent is available in recurring deposit schemes

editorBusiness, Economy

Recurring deposit schemes are earning around 8 percent interest. Recurring Deposit is a regular deposit scheme. In this, investors can deposit money regularly and get returns on the money at fixed interest rates. Recurring Deposit is a small investment that gives you a chance of big returns. Different banks have different interest rates on recurring deposits. This month, several banks revised their interest rates for recurring deposits worth less than Rs 2 crore. DCB Bank is currently offering great recurring deposit schemes. Currently, DCB Bank is offering maximum interest of 6.95 percent to general customers on recurring deposits. Whereas senior…

29 Jul

Income Tax department raids Haier’s office premises

Priyanka BhowmickBUSINESS, Business, Economy, Finance, India, North EastBusiness, india

The raids are linked to suspected "large-scale tax evasion," the same report said. The Chinese consumer durables company, which has a strong presence in India including refrigerators and washing machines, has set a target of Rs 6,000 crore in 2022 and Rs 10,000 crore in the next two years. In April, Satish NS, President, Haier India, said, "We have one of the largest manufacturing hubs for all domestic supplies in the country as well as expanding our export base. Product innovation and customer-centricity are rooted in the principles of our growth trajectory and so we are focused on bringing best-in-class…

24 Jul

State Bank of India announced the second largest lender bank

editorEconomy

HDFC Bank, India's largest private sector lender, expects loan growth of 17-18% this year due to strong credit demand. Effective July 1 parent mortgage firm HDFC Ltd merged with its subsidiary HDFC Bank to make it the second largest lender after State Bank of India. Meanwhile, Keki Mistry, vice-chairman of the now-merged entity HDFC Ltd, has become the most valuable independent director. The market capitalization of listed companies including HDFC Bank of which he was an independent director is over ₹27 lakh crore. Apart from HDFC Bank, it also has the boards of Tata Consultancy Services (TCS), HDF Life, Torrent…

06 May

Share Market Opening: Sensex Crashes nearly

editorBusiness, Economy

The stock market opened with a fall on the last trading day. Sensex is trading by breaking 358 and Nifty by 89 points. In the initial time, there is a decline in the shares of the banking sector. Shares from SBI to HDFC Bank are currently broken. The Indian stock market opened with a decline today. The Sensex is trading down 358.87 points at 61,390.38 and the Nifty 50 is down 89 points at 18,166.80. Bank Nifty is trading at 43,397, down 288 points. However, amidst the decline, there is a boom in mid and small-cap stocks. BSE Mid Cap…

27 Apr

Indefinite shutdown called in Shirdi from May 1 over CISF security deployment

Business CorrespondentEconomy, India

Shirdi, a major pilgrimage site in Maharashtra also known as the home of revered spiritual leader Sai Baba, will remain shut from 1st of May over CISF deployment at the Sai Baba temple, there is no fix date of it's opening until the matter is resolved. The shutdown of the temple has been decided by the administration of the respective temple. There has been protest against the government decision of deploying CISF to maintain the security of the temple. As per the reports of DNA, the temple authority claims that the CISF are not trained for the security of the…

25 Apr

India gets first Water Metro in Kochi! PM Modi dedicates this project to the nation

Business CorrespondentBusiness, Economy

PM Modi on a 2 day visit to Kerala, inaugurated India's first ever Water Metro on Tuesday (25th of April,2023) which will bring connectivity between 10 islands. This innovation will reduce traffic jam and will run on battery means it doesn't require fuel. The development will help in boosting the tourism industry in the state. Hence, will result into a good economic growth. The minimum cost to avail the facility of water metro will be rupees 20.

20 Apr

India violated global trading rules in IT tariff dispute with EU, Japan, Taiwan, says WTO

Business CorrespondentBusiness, Economy

WTO said in a statement on 17th of April 2023 that India had disobeyed the rules of global trade in a debate with the Taiwan, Japan and EU over taxes on import of IT products. “We recommend that India bring such measures into conformity with its obligations,” the WTO panel’s report said. In the year 2019, the European Union challenged India’s introduction of import duties of between 7.5% and 20% for a wide range of IT products, such as mobile phones and components, as well as integrated circuits. In the same year, similar cases were filed against India by Japan…

20 Apr

Kapil Sibal compares India with China on GDP, unemployment and inflation

Business CorrespondentBUSINESS, Economy

India has surpassed China in terms of population. It ranks first in the list of the most populous country in the world. Kapil Sibal, member of the Rajya Sabha pointed out the the issue of unemployment, GDP, annual inflation in which India was not able to compete or get equal to it's neighbouring country China. He also asked people to analyse the data of these parameters of the recent year. Kapil Sibal is also a lawyer and he had represented several high-cases in the Supreme Court. It is seen that most of the time Sibal keeps on taking a dig…