Business

  • E-commerce, OTT, gaming saw over 100% growth in 2020
    NEW DELHI, APRIL 20 (IANS): Amid the pandemic, online payments, indoor entertainment and gaming witnessed over 100 per cent growth in India last year, a new report said on Tuesday. As theatres and offline entertainment avenues remained shut consumers turned to indoor entertainment, the OTT segment witnessed an incredible 144 per cent increase in the number of transactions and a 139 per cent increase in expenditure between 2019 and 2020, according to online payments solution provider
  • NBFC body seeks inclusion of education in ECLGS
    NEW DELHI, APRIL 19 (IANS): The Finance Industry Development Council (FIDC) has urged the government to include the education sector under the Emergency Credit Line Guarantee Scheme (ECLGS). The NBFC body in a letter to Finance Minister Nirmala Sitharaman noted that the business of many NBFCs include education loans to students to finance their higher education expenses in India and abroad and education institution loans (EIL) for financing education infrastructure growth needs of s
  • SBI General launches helpline for health insurance customers
    CHENNAI, APRIL 19 (IANS): Non-life insurer SBI General Insurance Company Ltd on Monday said it has launched "Healthline", a 24x7 helpline service for its health insurance customers. Healthline service has a dedicated toll free number and mobile number that will be attended by a customer service team 24x7 to address the queries of customers related to risk cover and the claims procedure. According to Managing Director and CEO P.C.Kandpal, considering the situation with r
  • User-generated content to fuel remote work, learning in India
    New Delhi/Gurugram, April 19 (IANS): As India grapples with the second Covid wave amid seismic shift in the way people work and learn, this year and beyond will be a major inflection point for the user-generated content on smartphones in the country, a new report said on Monday. From the growth of 5G-capable devices to evolving consumer trends around OTT, gaming and the whole app ecosystem, the pandemic has given a significant thrust to India's digital-first economy, with many n
  • Centre working with states to protect lives, livelihood: FM
    New Delhi, April 19 (IANS): Finance Minister Nirmala Sitharaman on Monday said that the Centre is working together with states to protect lives and livelihoods. In a tweet, the Minister said that she has spoken to business leaders and took their view on industry-related matters. "Spoke on telephone with each of the following business/Chamber leaders. Took their inputs on industry/Association related matters. Informed them that GoI at various levels from @PMOIndia is respondi
  • Rising Covid cases, curbs pull markets lower; Sensex down 1.99%
    Mumbai, April 19 (IANS): Rising cases of Covid-19 infections along with imposition of new restrictions on movement to curb the virus' spread, pulled the Indian equity markets lower on Monday's mid-afternoon trade session. Accordingly, all major sectors other than the healthcare were trading in the red. Around 1.45 p.m., Sensex traded at 47,858.33, lower by 973.70 points or 1.99 per cent from its previous close. The Nifty50 on the National Stock Exchange traded at 14,33
  • Domino's India hacked? Credit data of 10L users on 'sale' for Rs 4 cr
    NEW DELHI, APRIL 18 (IANS): In what could add to latest string of cyber breaches at India-based entities, a cyber security researcher on Sunday claimed that credit card details of nearly 10 lakh people who purchased online on Domino's Pizza India is allegedly being sold for over Rs 4 crore on the Dark Web. According to Alon Gal, CTO of security firm Hudson Rock, a threat actor has claimed to have hacked Domino's India database worth 13TB. The threat actor is looking for a
  • Petrol prices unchanged across metros
    NEW DELHI, APRIL 18 (IANS): Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the third straight day across four metro cities. In the national capital, petrol was sold for Rs 90.40 per litre on Sunday. Similarly, price of the fuel in Mumbai, Chennai and Kolkata also was unchanged at Rs 96.83, Rs 92.43 and Rs 90.62 per litre, respectively. In line with petrol, prices of diesel also were same for the third straight day. Price of the fuel in Delhi, Mumb
  • Airtel Payments Bank increases day-end balance limit to Rs 2 lakh
    NEW DELHI, APRIL 18 (IANS): In line with the Reserve Bank of India's (RBI) guidelines, Airtel Payments Bank on Sunday announced that it has become the first payments bank in the country to enable Rs 2 lakh day-end balance account limit. The bank has increased the day-end balance limit to Rs 2 lakh from Rs 1 lakh. "The RBI's decision to increase the balance limit is an endorsement of the role Payments Banks have in furthering financial and digital inclusion in India.
  • Rlws to create green corridor for fast movement of oxygen
    NEW DELHI, APRIL 18 (IANS): Amid demand of oxygen across the country after Covid surge, the railways is getting fully ready to transport Liquid Medical Oxygen (LMO) and Oxygen Cylinders from one place to another. The railways has geared up to run oxygen Express trains through green corridor for fast movement of LMO as availability of oxygen is key in the treatment of certain medical conditions due to Covid infection. Ministry of Railways in a statement said that the Madhya Pradesh a
  • AirAsia announces free rescheduling of bookings till May 15
    NEW DELHI, APRIL 18 (IANS): AirAsia India has announced free rescheduling on all flights for bookings till May 15, 2021. In a statement, the airline said that guests can now make unlimited changes for all bookings and changes made till May 15, irrespective of the travel dates, without incurring any flight change fees. "To ensure that its customers continue to have the greatest flexibility if their travel plans change with increased uncertainty and travel restrictions, the ai
  • Bajaj Allianz General Insurance fined Rs 10 lakh by IRDAI
    CHENNAI, APRIL 17 (IANS): Bajaj Allianz General Insurance Company Ltd was fined Rs.10 lakh by the insurance regulator for violation of the Insurance Act and its Motor Insurance Service Provider (MISP) guidelines. The Insurance Regulatory and Development Authority of India (IRDAI) in its order has said Bajaj Allianz General had solicited 2,214 motor insurance policies between November 2017 - January 2018 involving a premium of about Rs 1.44 crore. The regulator had said the compan
  • SpiceJet re-introduces 'Zero Change fee' offer
    NEW DELHI, APRIL 17 (IANS): Airline major SpiceJet on Saturday re-introduced 'Zero Change fee' offer for domestic network. Accordingly, the new offer entitles passengers to make changes in their ticket at least five days prior to the date of departure instead of seven days. "The new offering allows passengers to modify tickets with one-time waiver of the charges...," "Additionally, the airline has also introduced special discounted price for an array of add
  • Railways to fine Rs 500 for not wearing face masks in rail premises and in trains
    New Delhi, April 17 (IANS): In view of the rising Covid cases across the country, Indian Railways on Saturday said that it will impose a fine of up to Rs 500 on the passengers for not wearing face masks in the railway premises or during the travel in trains, for a period of six months. In an letter to all the General Managers of Railway zones on Saturday, Executive Director of Passenger Marketing Neeraj Sharma said, "Indian Railways is taking various measures to contain the spr
  • Second Covid wave to disrupt fabric demand: Ind-Ra
    NEW DELHI, APRIL 17 (IANS): The second wave of Covid-19 resurgence can potentially disrupt fabric demand, said India Ratings and Research (Ind-Ra). "Woven fabrics production continued to improve mom, though marginally, in January 2021, despite remaining 21 per cent YoY lower," Ind-Ra said. "While recoveries for blended and knitted fabrics were quicker, that of woven is expected to be delayed with micro-lockdowns and work-from-home culture." Besides, export dem
  • Petrol, diesel price revision on hold again a day after cuts
    New Delhi, April 16 (IANS): Fuel prices in the country remained unchanged on Friday a day after oil marketing companies decided to cut the retail price to pass the benefit of softer global oil prices to the consumers. Accordingly, pump price of petrol and diesel remained at Thursday's level of Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi. The price of the two auto fuels had fallen by 16 paise and 14 paise per litre respectively on Thursday after a 15 day break
  • 'Govt should regulate cryptocurrencies, not ban them'
    New Delhi, April 16 (IANS): As government plans to come up with a Cryptocurrency Bill, sector stakeholders have said that the government should regulate the cryptocurrency ecosystem, rather than banning them. Experts are of the view that India should formulate regulations in the lines of the development countries which regulate these currencies including the US, UK, Japan, Australia among others. Nischal Shetty, Founder & CEO, WazirX said: "India's crypto policy shou
  • Amazon Prime hits 200M users globally: Bezos
    New Delhi, April 16 (IANS): Amazon Prime has reached a user base of 200 million, according to the outgoing CEO Jeff Bezos, which is an increase of over 50 million during the pandemic only. In his final annual letter to Amazon's shareholders on Thursday, Bezos who will be replaced by former AWS head Andy Jassy as Amazon CEO this year, said that customers have connected more than 100 million smart home devices to Alexa. "Last year, we hired 500,000 employees and now direct
  • General insurer Royal Sundaram fined by IRDAI
    Chennai, April 16 (IANS): City based Royal Sundaram General Insurance Company Ltd was fined Rs 3,00,000 and also warned by Insurance Regulatory and Development Authority of India (IRDAI) for violation of norms. Royal Sundaram was penalised for violation of Motor Insurance Service Provider (MISP) guidelines. The IRDAI has also warned Royal Sundaram for non submission of information that was sought by it and directed to ensure submission of information and documents sought during i
  • Online communities helping Indians sail through pandemic: FB
    New Delhi, April 16 (IANS): Amid the pandemic, India saw a steep growth in online communities on Facebook and 92 per cent respondents said they received some form of support through online community groups amid the deadly Covid wave last year, a new Facebook-New York University (NYU) report said on Friday. Over 38.8 per cent people in India said the online groups have become "significantly more important", as compared to responses from the rest of the world (29.5 per cent)