Business News Updates

Mumbai: The Board of SBI Cards and Payment Services has approved raising of Rs 1,500 crore by issuance of non-convertible debentures (NCD) in one or more tranches over a period of time. The Board of Directors approved the proposal in its meeting on Monday. In a regulatory filing on Monday, SBI Card said that its […]

Mumbai: As economic uncertainty continues in the wake of the rising number of coronavirus cases, gold futures on the Multi-Commodity Exchange (MCX) on Wednesday touched a new high and neared the Rs 50,000 per 10 gram mark. The August contract on MCX earlier in the day surged to a new high of Rs 49,996 per […]

New Delhi: The National Payment Corporation of India (NPCI) on Wednesday said that it has launched the functionality of Unified Payments Interface AutoPay for recurring payments. With this new facility, customers can now enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, OTT subscriptions, insurance, mutual […]

New Delhi: Prime Minister Narendra Modi on Wednesday called upon the US industry to take advantage of the scale, opportunities and recent reforms in India by investing in sectors as diverse as space and healthcare. Addressing the India Ideas Summit hosted by the US-India Business Council via video conferencing, Modi said that there has never […]

San Francisco: Elon Musk-run Tesla has reported profits for the fourth straight quarter, making $6 billion in revenue and $104 million in net income in its June quarter even as the Covid-19 pandemic shut its factories. Tesla shares were up more than 4 per cent in after-hours trading on Wednesday as the company beat Wall […]

Chennai: The Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on Wednesday inked an agreement for 15 per cent wage hike for bank employees, said a leader of major bank union. “We are happy to state that in the meeting between the IBA and the UFBU at Mumbai, a broad understanding […]

New Delhi: Flipkart on Thursday announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the USD 650 billion B2B retail market in India. Walmart India runs 28 Best Price wholesale stores in the country. The announcement […]

New Delhi: The government proposes to roll out compulsory e-invoicing of GST from October 1, but has decided to raise the threshold to exempt smaller entities from this compliance, an official said on Thursday. Accordingly, e-invoicing will be mandatory only for businesses with turnover of Rs 500 crore or more. Those, on the other side […]

New Delhi: With the rise in usage of digital modes of transactions and the growing market of digital payment services, India is likely to contribute around 2.2 per cent to the sector by 2023, said a report by the Payments Council of India and PWC. The report titled ‘Empowering payments’: Digital India on the path […]

San Francisco: Google has so far provided $39.5 million in funding to more than 5,600 publishers in 115 countries who are facing financial hardship as a result of the economic and advertising downturn in the pandemic. India’s digital-only news organisation East Mojo and Tamil language publication Minnambalam are among the small and medium local newsrooms […]

New Delhi: Amazon is looking forward to creating thousands of job opportunities in India as the e-commerce giant plans to make 10 new warehouses operational in the country ahead of the festive season. With the new additions, Amazon.in will have more than 60 warehouses, or fulfillment centres, in 15 states, with a total storage capacity […]

New Delhi: In order to strengthen its network and postal operations in rural areas and provide the facility of small savings scheme to the vast majority in villages, the Department of Posts has now extended all small savings schemes upto the Branch Post Office level. There are 1,31,113 Branch Post Offices functioning in rural areas. Apart […]

New Delhi: Government is confident that the strategic sale of Bharat Petroleum Corporation Ltd (BPCL) may go through without any further need to extend the bidding deadlines. The deadline for submitting the Expressions of Interest (EoI) for 52.98 per cent stake in the BPCL will end on July 31. BPCL disinvestment has received interest from […]

Mumbai: The India International Exchange (India INX) has witnessed an all-time-high turnover of over $4.92 billion or nearly Rs 36,866 crore on its derivative segment in daily trading turnover on last Friday. Accordingly, trading volume on the BSE‘s India International Exchange has grown exponentially since the commencement of trading activities on January 16, 2017. “Its […]

New Delhi: Diesel price in the national capital on Sunday inched towards the Rs 82 per litre-mark following the second consecutive day of price hike. Diesel price was increased by 15 paise per litre, according to a price notification of state-owned oil marketing companies. This took the retail selling price in the national capital to […]