Finance

07 Dec

ED conducted searches at seven places in Mumbai and Ahmedabad in a financial fraud case

Banasree SarkarFinanceED

The Enforcement Directorate (ED) conducted searches at seven places in Mumbai and Ahmedabad in a financial fraud case. The search operation began on Friday in a financial fraud case of Rs 196 crore. Suspicious financial transactions of more than Rs 100 crore were reported in Nashik Commercial Cooperative Bank. A complaint was filed at Malegaon Chawanni police station on November 7. It is alleged that more than Rs 100 crore has been deposited in 14 new accounts in Nashik Commercial Cooperative Bank. The ED received a complaint of illegal transactions. Based on that complaint, the ED started an investigation. On…

03 Aug

Sandip Sabharwal recommends buying 3 stocks in the auto sector

Banasree SarkarFinanceauto sector

The stock market had witnessed a remarkable rise in four consecutive sessions till Thursday. But that growth took a hit in the final trading session of the week. At the end of Friday's trading session, both the major indices of the market were seen in the red. However, a large section of investors still maintain a positive view of the investment. There are great opportunities to buy stocks in a number of sectors in the current fall in the stock market. In a recent interview with a news agency, expert Sandip Sabharwal advised investors to maintain a positive outlook on…

24 Jul

Check stock names before investing in a budget environment

Banasree SarkarFinancebudget

Union Finance Minister Nirmala Sitharaman said that up to 300 units of free electricity will be provided to 1 crore households every month under the Surya Ghar Muft Bijli Yojana in the budget. Solar power companies can benefit from this in this climate. So the share price of Tata Power, Adani Green, and Wari Energies may increase. Divyam Maure, research analyst at Samco Securities. Union Finance Minister Nirmala Sitharaman has announced an increase in the upper limit of currency loans from 10 lakhs to 20 lakhs in the budget. These loans are provided by government banks and microfinance institutions. According…

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…

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…

05 Jan

Digital transformation of HDFC & Microsoft

Business CorrespondentFinance

HDFC Bank, India’s largest private sector bank, is partnering with Microsoft in the coming phase of its digital metamorphosis trip and unleashing business value by transubstantiating the operation portfolio, contemporizing the data geography and securing the enterprise with Microsoft Cloud. HDFC Bank as a part of its unborn Ready strategy is developing in house IPs as well as partnering with several companies including FinTechs ’ to co- produce technology IPs. HDFC Bank as a part of its unborn Ready strategy is developing in house IPs as well as partnering with several companies including FinTechs ’ to co- produce technology IPs.…

03 Jan

Launch co-brand credit cards for the bank’s customers by SBI And Punjab & Sind Bank

editorFinance

Public sector bank Punjab and Sind Bank (PSB) has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. PSB has additionally entered the mastercard market as a brand new product section in its portfolio as a results of this collaboration. 3 card variants—the PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card—have been launched by each partners. This collaboration additionally marks the entry of PSB into ‘credit cards’ as a brand new product section beneath the bank’s portfolio.The connection value for the PSB SBI Card ELITE is Rs 4,999 and taxes, the…

31 Dec

The full year Budget Estimate on increased capital expenditure and slow growth in non-tax revenue

editorFinance

The government’s commercial enterprise deficit in end-November touched fifty nine per cent of the complete year Budget Estimate on enlarged cost and slow growth in non-tax revenue. In actual terms, the commercial enterprise deficit, that is that the distinction between expenditure and revenue, was Rs 9.78 lakh throughout the April-November amount of 2022-23. within the corresponding amount last year, the deficit was 46.2 per cent of the Budget Estimates of a pair of 21-22.The government has budgeted commercial enterprise deficit to be Rs 16.61 lakh or 6.4 per cent of the gross domestic product within the current year ending March…

29 Dec

SBI Foundation has designed a project in collaboration with Himalayan Environment Studies

editorFinance

SBI Foundation has designed a project together with range of mountains atmosphere Studies and Conservation (HESCO) that aims to push equitable economic and ecological development in ten disaster-prone villages in Joshimath Block of Chamoli District.Uttarakhand has been experiencing global climate change impacts as well as seasonal changes, less snow, flash floods, and unpredictable downfall. Regarding 70% of the population in mountain districts depends on agriculture for subsistence and faces problems thanks to little and fragmented land holdings. Individuals there consider ancient crop varieties, lack market and technology linkage, and square measure liable to crop depredation by wild animals.

28 Dec

Worldline ePayments India (WEIPL), a leader in digital payments

editorFinance

Worldline ePayments India (WEIPL), a pacesetter in digital payments, has received in-principle authorisation from the banking company Of India (RBI) to act as a payment collector (PA). The authorisation by the tally was below the provisions of the rules on Regulation of Payment dated March 17, 2020.Worldline ePayments India, a part of Worldline cluster, offers solutions for all styles of payment desires giving in-store, online, and omnichannel payments to its customers.Payment Aggregators facilitate e-commerce sites and merchants in acceptive payment instruments from the customers for completion of their payment obligations while not the requirement for merchants to make a separate payment integration…