Tuesday, September 21

Finance

Impact of COVID-19 second wave on the Economy to Remain Muted- FM report
COVID, Finance

Impact of COVID-19 second wave on the Economy to Remain Muted- FM report

The impact of the second wave of the coronavirus pandemic on the economy is likely to remain muted as compared to the first wave, the finance ministry said in its monthly economic report. Assuming that the second wave of epidemics posed a downside risk to economic activity in the first quarter of the fiscal year 2020-22, the report stated that "there are reasons to expect a tighter economic impact than the first wave. COVID-19 as borne by international experience provides a silver lining of economic resilience amidst the COVID-19 second wave. Also, read | Second Wave of COVID-19: Top Upcoming Car Launches Postponed Due to Pandemic: Hyundai, Audi, and Others Finance Ministry Report The fiscal position of the central government, it said, has witnessed an improvement in the recent...
Cabinet approves Amendments to Finance Bill 2021
Finance

Cabinet approves Amendments to Finance Bill 2021

The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday granted ex-post approval for the Government's amendments to the Finance Bill, 2021 (enacted as the Finance Act, 2021 on March 28, 2021). The amendments were essential to clarify and rationalize the proposals further and address stakeholders' concerns arising out of the proposals enumerated in the Finance Bill. Major Key Points In particular, amendments to the Bill are tax proposals that will generate timely revenue for the government and streamline the existing provisions by addressing the grievances of the taxpayers. The Government will provide equity and inclusion to all taxpayers by addressing the concerns of stakeholders arising out of the amendments to the Finance Bill, 2021, and proposed amendments in ...
Infosys on 14 April Consider to Buyback of Equity Shares
Finance

Infosys on 14 April Consider to Buyback of Equity Shares

The information technology (IT) chief said Infosys shares rose 2.7 percent on BSE to a new high of Rs 1480 in intra-day trade on Monday, considering it would offer a buyback of fully paid equity shares. In a meeting to be held on Wednesday 14 April 2021. "The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, 2021," the company said in its release on the exchanges. https://twitter.com/chetnaparmar631/status/1381242916446863361?s=20 The IT services giant has also been approved to hold a board meeting on April 13 and 14 to acknowledge and record the company's consolidated financial results for the quarter and year ended March 31, 2021, is. Also, read | In the first quarter of 2021, Mercedes-Benz...
Indian Banks Trying To Use Reserve Bank of India Money in Trade Strategy
Finance

Indian Banks Trying To Use Reserve Bank of India Money in Trade Strategy

Recently, the Reserve Bank of India is trying to flush out excess dollars from the market. This has created a loophole for local banks to make a unique opportunity. Lenders are trying to make a sizable profit through this loophole, according to experts in this matter. A large bank could easily rack up exposures of more than $1 billion using this strategy, multiple traders said, asking not to be identified as the deals aren’t public. The top beneficiaries of these trades are foreign banks, which have large and easy access to dollar stockpiles. At the center of the strategy at RBI is to remove the limit for all local banks for foreign exchange. Governor Shaktikanta Das is expecting local banks to use their excess US dollars to buy their treasuries. The center is expecting them to buy US ...
Stocks to Focus Today – HDFC, Tata Motors, Adani Enterprises, Maruti, Hero MotoCorp, Britannia Industries
Business, Finance

Stocks to Focus Today – HDFC, Tata Motors, Adani Enterprises, Maruti, Hero MotoCorp, Britannia Industries

HDFC Stocks to focus of HDFC Individual loan business continued to improve during the quarter ended 31 March 2021. Tata Motors Tata Motors has shifted its defense business to Tata Advanced Systems for an upstream consideration of ₹ 227.7 crores. The transfer has been completed through the sale of a recession as per the scheme of arrangement approved by the National Company Law Tribunal in Mumbai and Hyderabad. Also, read | Microsoft Soon To Launch Tech Hub In Noida Adani Enterprises Adani Road Transport (ARTL), a wholly-owned subsidiary of Adani Enterprises, has received an award letter for the development of the six-lane Badkumari - Karki section of NH-130-CD Road under the Raipur-Visakhapatnam Economic Corridor in Odisha. Adani Enterprises, along with its...
Indiabulls Housing Finance says that Crisil has Stabilized the Upgrade
Finance

Indiabulls Housing Finance says that Crisil has Stabilized the Upgrade

Rating agency Crisil has upgraded its outlook for Indiabulls Housing Finance Limited from negative to stable. This confirmed the company's short-term long-term credit ratings of "AA" and "A1+" In a filing with the BSE, the Indiabulls Housing Finance company said it received Crisil's communication on 31 March. Modification of rating factors in fundraising is less than the expected increase in asset quality and non-performing asset (NPA) levels in retail segments. Also, read | Now recharge your Delhi metro card with amazon pay  The credit rating agency also observed regularisation of collection efficiency to pre-Covid levels, strong capitalization with healthy cover for asset-side risks, and a strong liquidity position of the company. During early trade, Indiabulls Housing Finance Ltd...
Spanish companies using blockchain technology to promote digital identity
Blockchain, Finance, news

Spanish companies using blockchain technology to promote digital identity

Spanish companies (almost 10) are working together to develop a self-managed digital identity model with Blockchain technology. This will help Spain in the front steps to development. The project had Banco Santander, Bankia, BME, CaixaBank, Inetum, Liberbank, Línea Directa Aseguradora, Mapfre, Naturgy and Repsol, and also the Alastria consortium. This will provide people manage their own personal data, settling digital identity managed by themselves. This project assured a secure and reliable usage. Self-managed identity enables people to have their personal data in a single digital identity, backed by the companies involved and stored on their own mobile device. Users may decide who to share the data with at any time in a fast, simple, secure process, in order to take up any service wit...
Indian Railways Will Never be Privatized Says Piyush Goyal
Business, Finance, Indian Railways, news, Politics

Indian Railways Will Never be Privatized Says Piyush Goyal

Clearing the air over the privatization of Indian Railways, which has been opposed by several leaders, Union Railway Minister Piyush Goyal on Tuesday said that Indian Railways will not be privatized and will always remain with the government. However, the Minister also stressed the need for private investment for the more efficient functioning of the railways. Also, read | Nirmala Sitharaman discussed the global economic outlook with US Treasury Secretary Speaking on the Demand for Grants of Ministry of Railways 2021-22 in the Lok Sabha, Goyal Said - That there has been no death of any passenger due to a rail accident in two years. Mr. Goyal said the Modi government has hiked investment in railways to ₹ 2.15 lakh crore in 2021-22 fiscal, from ₹ 1.5 lakh crore in 2019-20 ...
Nirmala Sitharaman discussed the global economic outlook with US Treasury Secretary
Business, Finance, finance minister, Joe Biden, news

Nirmala Sitharaman discussed the global economic outlook with US Treasury Secretary

  FM Nirmala Sitharaman on Monday discussed the global economic outlook and exchanged notes on issues of mutual interest with US Treasury Secretary Janet Yellen. https://twitter.com/FinMinIndia/status/1371499851645513728?s=20 In a series of tweets, the finance ministry said both Sitharaman and Yellen agreed to work closely through common economic and strategic collaboration in various multilateral fora, including the G20. Also, read | IT Employee Union Files Complaint Against Tata Technologies - sources The Ministry also said that Ms. Sitharaman and Ms. Yellen exchanged notes on the economic issues of mutual interest and looked forward to the meeting of the India-US Economic and Financial Partnership later this year. Finance Minister Nirmala Sitharaman had a frui...