business

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm
india

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm

The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months
business

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months

India’s unemployment rate reduced to pre-lockdown levels at 8.5 percent during the week that ended on 21 June, Centre for Monitoring Indian Economy (CMIE) said.

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI
business

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI

The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards
business

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards

Markets regulator SEBI allowed transactions in defaulted debt securities and put in place operational framework for such transactions

Loan moratorium case: Lenders to credit ‘interest on interest’ to borrowers by 5 Nov, Centre tells SC
business

Loan moratorium case: Lenders to credit ‘interest on interest’ to borrowers by 5 Nov, Centre tells SC

The Ministry of Finance has said that after crediting this amount, the lending institutions would claim reimbursement from the Central government

ITR 2019-2010: Deadline for income tax returns extended for individual taxpayers till 31 December
business

ITR 2019-2010: Deadline for income tax returns extended for individual taxpayers till 31 December

For those taxpayers whose accounts need to be audited, the deadline has been extended by two months till 31 January, 2021

Tata Communications appoints Kabir Ahmed Shakir as CFO, to join on 21 Oct
business

Tata Communications appoints Kabir Ahmed Shakir as CFO, to join on 21 Oct

Until recently, Shakir was the CFO at Microsoft India. He will take charge from Pratibha K Advani who resigned from Tata Communications after a stint of over five years.

With 3.2% expansion in Q1, China becomes first major economy to return to growth since beginning of pandemic
world

With 3.2% expansion in Q1, China becomes first major economy to return to growth since beginning of pandemic

Chinese exporters have benefited from the economy’s relatively early reopening and global demand for medical supplies, according to a National Bureau of Statistics report

Centre to borrow up to Rs 1.1 lakh crore on behalf of states to meet GST shortfall
india

Centre to borrow up to Rs 1.1 lakh crore on behalf of states to meet GST shortfall

The amount will be borrowed by the Centre under the Special Window in appropriate tranches and will be passed on to states in back-to back loans, said a finance ministry statement. However, it did not say who will service the interest and principal payments

India's GDP 11 times more than Bangladesh in purchasing power parity terms, say govt sources
business

India's GDP 11 times more than Bangladesh in purchasing power parity terms, say govt sources

The government sources said this in the backdrop of IMF's growth projections showing Bangladesh closing in on India in terms of per capita GDP this year.

'Common man's Diwali in your hands': SC sets 2 Nov deadline for Centre to implement interest waiver
business

'Common man's Diwali in your hands': SC sets 2 Nov deadline for Centre to implement interest waiver

The court said the Central Government should implement 'as soon as possible' interest waiver on loans of up to Rs 2 crore under the RBI moratorium scheme in view of the COVID-19 pandemic

Infosys announces salary hikes, promotions from Jan 2021; special incentive pay for junior employees
business

Infosys announces salary hikes, promotions from Jan 2021; special incentive pay for junior employees

The Bengaluru-based company had 2,40,208 employees at the end of September 2020 quarter. COO Pravin Rao said the quantum of hikes would be identical to previous years

Indian economy may contract by 10.3% in 2020, to bounce back with 8.8% growth in 2021, says IMF
business

Indian economy may contract by 10.3% in 2020, to bounce back with 8.8% growth in 2021, says IMF

Revisions to the growth forecast are particularly large for India, where GDP contracted much more severely than expected in the second quarter

Nirmala Sitharaman's LTC, festival schemes for Central employees cue for states to fix their finances
india

Nirmala Sitharaman's LTC, festival schemes for Central employees cue for states to fix their finances

With many of the states already facing a fund crunch, they are going to be in more difficulty to match the Centre’s largesse.

Centre will give govt employees cash vouchers instead of LTC to stimulate economy, says Nirmala Sitharaman
business

Centre will give govt employees cash vouchers instead of LTC to stimulate economy, says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman also announced additional capital spending and Rs 12,000 crore, 50-year interest-free loan to states.

GST Council to discuss compensation for states for third time tomorrow; decision on setting up group of ministers likely
business

GST Council to discuss compensation for states for third time tomorrow; decision on setting up group of ministers likely

In its previous meeting last week, the Council had decided to extend the surcharge on taxes on luxury goods beyond June 2022 but failed to reach a consensus on ways to compensate states for loss of tax revenue

Yes Bank case: CBI books HDIL promoters Wadhawans, others for Rs 200-cr loan fraud
business

Yes Bank case: CBI books HDIL promoters Wadhawans, others for Rs 200-cr loan fraud

It is alleged that loans taken for Mack Star were transferred to settle HDIL liabilities to Yes Bank without intimation to its majority stakeholder and investor ODIL in a conspiracy orchestrated by the HDIL promoters, directors and auditors

Forbes India Rich List 2020: Mukesh Ambani tops chart, Gautam Adani takes second place
business

Forbes India Rich List 2020: Mukesh Ambani tops chart, Gautam Adani takes second place

The rich in India got richer as the wealth of the top 100 on the list increased by about 14 percent or $517.5 billion compared to 2019, as per Forbes Magazine

TCS announces Rs 16,000-cr buyback plan, net profit up 4.9% at Rs 8,433 cr in  Sep quarter
business

TCS announces Rs 16,000-cr buyback plan, net profit up 4.9% at Rs 8,433 cr in Sep quarter

The net profit, however, excluded Rs 1,218 crore-provision towards a legal claim, the company said in a regulatory filing

Dinesh Kumar Khara takes charge as SBI chief: FMS Delhi graduate has 35 yrs of experience
business

Dinesh Kumar Khara takes charge as SBI chief: FMS Delhi graduate has 35 yrs of experience

Khara, who joined SBI in 1984 as a Probationary Officer, was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI in 2017