finance news asx - Daily News Capsule

13Mar

By Nikita Dhyani1 Comment

cricket, Finance, IPL, Sports

Chinese Smartphone Company Vivo Return as the IPL Title Sponsor

Chinese smartphone company Vivo has returned as the title sponsor of the Indian Premium League cricket tournament, almost a year after the sponsorship deal with the BCCI was suspended amid the India-China border standoff. The company, which competes with players like Xiaomi and Samsung in the Indian market, also said that it will expand its portfolio of premium devices, and focus on new technologies like 5G. https://twitter.com/IPL/status/1368535256014356488?s=20 Vivo India Director Brand Strategy Nipun Marya told PTI on Wednesday Vivo is back as the Title Sponsor of the IPL and it is very encouraging and exciting for us. The IPL is the biggest asset in India and a perfect combination of sports and entertainment, so we are waiting for the IPL to start...

Reliance Home Finance (RHFL) defaults loan repayment of Rs 40 crore to Punjab & Sind Bank – sources

8Mar

By Nikita DhyaniNo Comments

Bank, Business, Finance, RHFL

Reliance Home Finance (RHFL) defaults loan repayment of Rs 40 crore to Punjab & Sind Bank – sources

Reliance Home Finance Ltd (RHFL) said Saturday that it has default loan repayment of more than Rs 40 crore from Punjab & Sind Bank, even if the company has enough cash and cash equivalents that it cannot use due to a court order. The Anil Ambani-controlled Reliance Capital’s subsidiary defaulted on the mortgage on February 15, 2021, and the current amount of default is Rs 40 lakh as well as Rs 15 lakh. Reliance Home Finance (RHFL) said in a regulatory deposit that the entire liability of the corporate is Rs 200 crore from Punjab and Sindh Financial Institution, which is on a mortgage of 5 years each of 9.25 percent each year. The company said that the company has more than Rs 1,500 crore in cash (including cash equivalents, liquid mutual fund inv...

Finance Minister hints at a review of tax limit on EPF

22Feb

By Nikita Dhyani1 Comment

Business, Finance, Politics

Finance Minister hints at a review of tax limit on EPF

Finance Minister Nirmala Sitharaman has commented that there is no intent to discourage higher income earners from saving with the Employees Provident Fund (EPF) and that she was open to reviewing the contribution limit of ₹2.5 lakh a year for tax-free interest, imposed in the recent Union Budget. Reiterating that the EPF will continue to remain in its present form, the Minister said there was no plan to merge the EPF with the National Pension Scheme. Also learn- For rich/affluent, EPF is not a nest egg but a goose that lays golden eggs. “We want to continue with the EPF. We understand that there is a certain comfort with people, particularly middle-income earners when they are assured of a return,” she mentioned in an exclusive interview with Business Line. “We have taken ...

Bharti Airtel adds maximum number of wireless users than Jio for 5 months in a row

19Feb

By Nikita DhyaniNo Comments

Business, Communication, Finance, Jio, news, Politics

Bharti Airtel adds maximum number of wireless users than Jio for 5 months in a row

Airtel acquired 4.05 million wireless subscribers against Jio's 0.47 million while battling Vodafone-Idea once again lost almost 5.7 million users in December, as per Telecom Regulatory Authority of India (Trai) data delivered on Thursday. Bharti Airtel adds maximum numbers of wireless users 5th times successfully in a row which is more than market leader Reliance Jio. Airtel added 4.05 million wireless subscribers in December to take its base to 338.70 million, followed by Reliance Jio, which added 478,917 subscribers to take its base to 408.77 million. With solid additions, Airtel has also narrowed the gap with market pioneer Reliance Jio, which has seen its subscriber additions slowing down. Reliance Jio’s wireless market share stood at 35.43% in December, followed by Airte...