Business

  • Go First transports 63 oxygen concentrators to Delhi
    New Delhi, June 4 (IANS): Low-cost carrier Go First, formerly known as GoAir, has ferried 63 oxygen concentrators to Delhi from Mumbai to be distributed across the state. According to the airline, these concentrators have been provided by IPL franchise 'Punjab Kings', which has tied up with 'Round Table India' for distributing oxygen concentrators to patients with mild to moderate symptoms. "These concentrators are given free of charge to the patients and aft
  • Growth Oriented: RBI retains rates accommodative rates
    Mumbai, June 4 (IANS): The Reserve Bank of India has retained its key short-term lending rates along with the growth-oriented accommodative stance during the second monetary policy review of FY22. Accordingly, the Monetary Policy Committee (MPC) of the central bank voted to maintain the repo rate, or short-term lending rate, for commercial banks, at 4 per cent. Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and t
  • RBI allows 24x7 bulk payment system for uninterrupted DBT
    Mumbai, June 4 (IANS): In order to ensure seamless and uninterrupted transfer of government subsidies to beneficiaries, the RBI on Friday permitted availability of National Automated Clearing House (NACH) on all days of the week. NACH, a bulk payment system operated by the NPCI, facilitates one-to-many credit transfers such as payment of dividend, interest, salary, pension, etc. This service is currently available on bank working days. Announcing the MPC decision, RBI governor Sh
  • Sensex, Nifty settle at record closing highs
    MUMBAI, JUNE 3 (IANS): The key Indian equity indices surged to end at record closing highs on Thursday tracking a bullish trend in the global markets. Decline in the daily cases of Covid-19 and strengthening of the Indian rupee supported the market sentiments. Sensex closed 52,232.43, higher by 382.95 points or 0.74 per cent from its previous close of 51,849.48. It had opened at 52,121.58 and touched an intra-day high of 52,273.23 and a low of 51,942.20 points. The Nifty 50
  • realme to bring 5G phones to 100M young consumers in 3 years
    NEW DELHI, JUNE 3 (IANS): Smartphone brand realme on Thursday said that it would enable 100 million young consumers to use 5G smartphones within the next three year, with an aim to launch a 5G mobile phone at $100 price point in the next few years. At its inaugural 5G summit with GSMA, Counterpoint Research and Qualcomm, realme said that new models in GT series, realme 5G performance and camera flagships will be launched in June and July, among several other corporate initiatives to
  • Tapering Covid: Monetary policy to be retained against volatility
    MUMBAI, JUNE 3 (IANS): Prevailing onslaught from Covid's second wave as well as persistently high prices will deter the Reserve Bank of India (RBI) from initiating any tapering exercise, experts told IANS. Besides, economy watchers have ruled out any reduction in key lending rates during the first monetary policy review coming after one of worst phases of Covid-19 pandemic. Accordingly, RBI's monetary policy committee (MPC) is expected to retain rates as well as the curre
  • SpiceJet to offer up to 30% discount to health professionals
    NEW DELHI, JUNE 3 (IANS): Budget airline SpiceJet will offer a discount of up to 30 per cent on its base fares to healthcare professionals who have been leading India's fight against Covid-19 pandemic. Accordingly, the discounted fares for doctors, nurses and paramedics will be available on SpiceJet's entire domestic network. The offer is applicable for bookings and travel until September 30. "Passengers need to submit a valid 'Healthcare professional ID or Re
  • Paytm's diversified businesses bring massive revenue, leave behind its competitors
    NEW DELHI, JUNE 2 (IANS): Fintech giant Paytms parent company One97 Communications Limited is headed for a $3 billion initial public offering (IPO), the highest ever market debut in India, and while the market leader has established its presence across a plethora of businesses, its competitors are only now exploring an expansion into other services. The company, which has been a public limited company for long, is expected to list in the Indian stock market by November. The compa
  • ASSOCHAM seeks wage support, interest subvention to help industry face Covid challenges
    NEW DELHI, JUNE 2 (IANS): Recommending a slew of relief measures, including regulatory easing, an ASSOCHAM paper has said that the government should consider wage support mechanism and interest subvention for the MSMEs, which are reeling under the severe impact of the Covid-19 pandemic that has shown its heightened fury in the second wave. Even as the states are in the process of easing lockdowns, the trade and industry would need an all-round support to pick up their business threa
  • Inspira Enterprise to hire over 400 people with focus on India biz
    MUMBAI, JUNE 2 (IANS): IT solutions provider Inspira Enterprise on Wednesday announced to hire more than 400 technology professionals to expand its workforce by 60 per cent globally especially in India. The company said it will hire professionals from cloud, cybersecurity, and analytics field to support its clients in India, South East Asia and Middle East. Headquartered in Mumbai, Inspira has satellite offices across the country, with business expanded to Singapore, Sri Lanka, D
  • Seafood exports from India see all-round dip in 2020-21
    KOCHI, JUNE 2 (IANS): Covid appears to have taken a heavy toll in the seafood exports from the country as these saw an all-round drop in quantity, value and in US dollar terms during 2020-21, as compared to 2019-20. According to the figures released by the Marine Products Exports Development Authority (MPEDA) on Wednesday, the drop in quantity was 10.88 per cent as 11,49,341 tones was exported in the last fiscal as compared to 12,89,651 tones during 2019-20. Likewise in value ter
  • Samsung's exit, chip shortage hit global monitor panel market
    SEOUL, JUNE 2 (IANS): Global monitor panel shipments declined in the first quarter of the year, a report showed on Wednesday, mainly due to Samsung Displays exit from the monitor LCD display manufacturing business and a shortage of semiconductors. The worldwide monitor panel shipments fell 8.6 percent on-quarter to 39.9 million units in the January-March period, according to the latest report from market researcher TrendForce. "TrendForce indicates that SDC will exit the mon
  • Amazon announces Prime Day in select countries on June 21-22
    SAN FRANCISCO, JUNE 2 (IANS): Amazon on Wednesday announced to kick off its Prime Day in select countries on June 21-22 and support small business selling partners again amid the pandemic. The two-day shopping extravaganza will offer Prime members over 2 million deals across every category, including fashion, electronics, toys, home decor, automotive, and more, the company said in a statement. The Prime Day is open to members in the US, the UK, the UAE, Turkey, Spain, Singapore,
  • Google Photos is ending its free unlimited storage on June 1
    SAN FRANCISCO, JUNE 1 (IANS): After offering unlimited free photo backups for years, Google Photos is now ending its free unlimited storage on June 1. From then on, any photo users upload -- including compressed "storage saver" pics -- counts toward their Google Drive storage limit unless it comes from a Pixel phone, Engadget reported. If users need more space, they will have to pay for Google One plans that start at $2 per month for 100GB of Drive space and scale to 2T
  • Yamaha India cuts down prices of two models
    CHENNAI, JUNE 1 (IANS): Japanese two wheeler maker Yamaha Motor India on Tuesday cut the prices of two of its models that were earlier priced over Rs 1.5 lakh each. According to Yamaha, it was forced to increase the prices earlier owing to an increase in input costs. The company said its team has finally managed to bring down these input costs for the FZ 25 Series and benefit is being passed on to the customers. Irrespective of the price reduction, the Yamaha FZ 25 series will
  • Maruti Suzuki's May total sales at 46,555 units
    NEW DELHI, JUNE 1 (IANS): Automobile major Maruti Suzuki India on Tuesday reported total sales of 46,555 units in May 2021. According to the company, total sales in the month include domestic sales of 33,771 units, sales to other OEMs 1,522 units and exports of 11,262 units. The company had sold 159,691 vehicles during April 2021 and 18,539 units in 2019. "In May 2021, the Company shut production from 1 to 16 so as to divert oxygen from industrial use for medical p
  • Daimler India offers financial support for its dealers
    CHENNAI, JUNE 1 (IANS): Salary support, group insurance for Covid-19, credit period for vehicles in stock are some of the support packages Daimler India Commercial Vehicles (DICV) offer for its dealers. According to DICV, the support package focussed on financial and medical for the dealer's workforce are for the business sustainability of its dealers. The new support package increases the assistance offered to dealerships to include Rs.2 lakh Covid-19 Group insurance, 20 day
  • Personal finance app Branch is now available in Hindi
    New Delhi, June 1 (IANS): Leading personal finance app Branch on Tuesday said it is now available in Hindi to serve more than half a billion consumers in the country. With over 23 million downloads, 4 million customers and 20 million loans processed, Branch International has disbursed over $600 million to date. The company said in a statement that the Hindi version of the app will address Tier 2 and 3 cities in the overall lending and banking space. "Our deliberate e
  • Fuel prices continue northward march; petrol, diesel rise again
    New Delhi, June 1 (IANS): After hitting new highs a day earlier, fuel prices rose once again on Tuesday taking petrol rates to cross Rs 100 per litre mark in several cities across the country. The pump prices of petrol and diesel increased by 26 paise and 23 paise per litre to Rs 94.49 and Rs 85.38 per litre respectively in Delhi on Tuesday. This is the second consecutive increase in fuel prices in as many days. Petrol and diesel prices had risen up to 29 paise per litre even on
  • 1 Indian firm paying average Rs 55 lakh after ransom attack
    Mumbai, June 1 (IANS): The recovery cost from the impact of a ransomware attack tripled in the last year in India -- up from $1.1 million (over Rs 8 crore) in 2020 to $3.38 million (more than Rs 24.5 crore) in 2021 -- as the country topped the list of 30 countries worldwide for ransomware attacks, a new report said on Tuesday. The average ransom payment in India was $76,619 (over Rs 55 lakh). However, paying up often doesn't pay off as Indian organizations that paid the ransom g