Business

  • Over 50,000 kirana stores onboard Flipkart for festive season
    BENGALURU, SEPTEMBER 9 (IANS): In a move to make ecommerce more inclusive, Flipkart on Wednesday said more than 50,000 kiranas have partnered the platform in preparation for the festive season and the 'Big Billion Days sale. Flipkart said it has significantly expanded its kirana onboarding programme to make deliveries to customers in more than 850 cities. The number of kiranas joining the programme has doubled since last year. "Through a combination of their hyperloca
  • Piaggio India enters scooter leasing business
    MUMBAI, SEPTEMBER 8 (IANS): Piaggio India has entered into the scooter leasing business by partnering with OTO Capital. The partnership brings vehicle leasing option for 'Vespa' and 'Aprilia' range of scooters in Pune and Bengaluru. "The merit of this new ownership model lies in the fact that one would have to pay only for the number of years they want to keep the vehicle and then return it anytime, thereby paying less and gaining more on their favourite Vesp
  • SEBI nod to NSE for Aadhaar authentication for e-KYC
    MUMBAI, SEPTEMBER 8 (IANS): The Securities and Exchange Board of India has allowed the National Stock Exchange (NSE) to undertake the Aadhaar authentication service of the UIDAI for e-KYC requirements. The development comes after the Department of Revenue in August notified the National Stock Exchange of India Limited (NSE) as per the recommendation by the Unique Identification Authority of India (UIDAI) and SEBI to undertake Aadhaar authentication service of the UIDAI under Section
  • Amazon India to launch 5 sort centres before festive season
    NEW DELHI, SEPTEMBER 8 (IANS): Amazon India said on Tuesday it will launch five new sort centres and expand eight existing ones across the country ahead of the festive season, in a bid to strengthen its delivery speed and connectivity for customers as well as sellers. The five new sort centres will be launched in Vishakhapatnam, Farukhnagar, Bengaluru, Mumbai and Ahmedabad. Apart from these new buildings, the expansion of the existing eight sort centres will increase Amazon India
  • FinMin reaches out to states again, says entire GST dues to be paid
    NEW DELHI, SEPTEMBER 8 (IANS): The Centre has reached out to the states again clarifying that it would pay entire GST compensation dues to them amid the mounting opposition over the borrowing options proposed in lieu of the shortfall in indirect tax collections. Sources in the Finance Ministry said that the entire shortfall of compensation to the states -- irrespective of whether it is on account of the GST implementation or Covid pandemic -- will be compensated and the same has bee
  • Rs 1.61 lakh cr worth of loans sanctioned to MSMEs under ECLGS
    NEW DELHI, SEPTEMBER 7 (IANS): Banks have so far sanctioned loans amounting to Rs 1.61 lakh crore to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS), the government said on Monday. "As of 03 Sept 2020, the total amount sanctioned under the 100% Emergency Credit Line Guarantee Scheme by #PSBs and private banks stands at Rs 1,61,017.68 crore, of which Rs 1,13,713.15 crore has already been disbursed," said a tweet by the the office of Finance Minister Nirmala S
  • Samsung Galaxy 'M' series to log $3.5bn GMV by 2020 end: Asim Warsi
    New Delhi, September 7 (IANS): Samsung is aiming to log $3.5 billion gross merchandise value (GMV) for its highly successful Galaxy 'M' series by the end of this year, Asim Warsi, Senior Vice President, Samsung India, said on Monday. The company, which is set to launch a 'meanest monster' M51 on September 10 with the industry-first 7,000mAh battery, will have eight Galaxy 'M' series smartphones in its kitty in almost a year-and-a-half time span since the '
  • Vodafone Idea to offer services under new brand name 'Vi'
    New Delhi, September 7 (IANS): Telecom operator Vodafone Idea will offer its services under a new brand name Vi, as merger and integration of Vodafone and Idea has been successfully completed. In a statement, the company said that the coming together of the two brands has culminated into the largest telecom integration in the world. Launching the new brand 'Vi', Ravinder Takkar, MD & CEO, Vodafone Idea Limited, said: "Vodafone Idea came together as a merged entit
  • Trai grants Voda Idea time till Sep 8 to respond to priority plan show-cause notice
    New Delhi, September 6 (PTI): Telecom regulator Trai has granted additional time, till September 8, to Vodafone Idea to reply to its show-cause notice on priority plan, after the company sought more time to respond. The Telecom Regulatory Authority of India (Trai) last month had slapped a show-cause notice on Vodafone Idea Ltd (VIL) over its pay-more-for-priority treatment mobile plan, saying the tariff offer "lacks transparency" and is "misleading" and not in co
  • HDFC disburses CLSS loans to over 2 lakh home buyers
    MUMBAI, SEPTEMBER 6 (IANS): HDFC Ltd. has disbursed home loans to over 2 lakh home buyers under the Pradhan Mantri Awas Yojana's (PMAY) credit linked subsidy scheme (CLSS). In a regulatory filing on Sunday, the lender said that it approved over Rs 47,000 crore of home loans under CLSS to homebuyers belonging to the economically weaker section (EWS), low income group (LIG) and middle income groups (MIG). "Subsidy under PMAY amounting to over Rs 4,700 crore has been passed
  • Airtel offers new 'Xstream' broadband plans starting at Rs 499
    NEW DELHI, SEPTEMBER 6 (IANS): Bharti Airtel on Sunday launched a new Airtel Xstream Bundle plans starting at Rs 499. The Xstream Bundle plans come with Airtel Xstream Fiber with speeds up to 1 Gbps, unlimited data, 'Airtel Xstream Android 4K TV Box' and access to all OTT content. The Airtel Xstream bundle offers complimentary access to premier video streaming apps such as Disney+ Hotstar, Amazon Prime Video and ZEE5, all accessible through the Airtel Xstream Box. The Air
  • Legal opinion to be considered as due diligence for brand endorsements
    NEW DELHI, SEPTEMBER 5 (IANS): The Central Consumer Protection Authority has issued draft guidelines for the prevention of false or misleading advertisements and the due diligence to be carried out for endorsements. These guidelines will be called the Central Consumer Protection Authority (Prevention of Misleading Advertisements and Necessary Due Diligence for Endorsement of Advertisements) Guidelines, 2020. These guidelines cover all advertising/marketing communications regardle
  • Railways to hold exams for 1.4 lakh posts from December 15
    NEW DELHI, SEPTEMBER 5 (IANS): The Indian Railways will start conducting examinations for 1.4 lakh posts for which it received applications, from December 15 this year, officials said on Saturday. "We have invited some applications for recruitment in various categories for 1.4 lakh posts. These were notified during the pre-Covid period," Railways CEO V K Yadav said at a virtual press conference. The national transporter received 2.42 crore applications for 1.4 lakh vaca
  • Need auto PLI scheme to generate demand: Maruti Suzuki MD-CEO
    NEW DELHI, SEPTEMBER 5 (IANS): A Performance Linked Incentive (PLI) scheme for export promotion is needed to generate demand, said Kenichi Ayukawa, MD & CEO, Maruti Suzuki India and SIAM President. Ayukawa spoke at the 60th ACMA Annual Session which was held virtually. The scheme such as PLI envisages to provide manufacturing and export incentives to companies. Requesting, the Centre to help the industry in creating demand, Ayukawa asked Niti Aayog CEO Amitabh Kant for sup
  • Railways to operate 80 more trains from Sept 12: CEO
    NEW DELHI, SEPTEMBER 5 (IANS): Besides the 230 trains operating as of now, the Indian Railways has decided to operate 80 more trains from September 12, for which reservations will start from September 10, Railways CEO VK Yadav said on Saturday. "We have decided to operate 80 more special trains from September 12 and reservations for these will open on September 10," he said while addressing a virtual press conference here. The CEO said that the national transporter will
  • Faceless assessment of Customs to roll out countrywide from Oct 31
    NEW DELHI, SEPTEMBER 5 (IANS): The Central Board of Excise and Customs (CBIC) has decided to roll out the faceless assessment at an all India level in all ports of import and for all imported goods by October 31. The Faceless Assessment is being rolled out under the umbrella of the next generational Turant Customs programme. The key elements of the Turant Customs programme are faceless, contactless and paperless customs clearance processes. This includes faceless or anonymised
  • Vodafone Idea's Board gives nod to raise Rs 25,000 cr
    NEW DELHI, SEPTEMBER 4 (IANS): The Board of Directors of Vodafone Idea on Friday approved a proposal to raise up to Rs 25,000 crore through Global Depository Receipts (GDR), American Depository Receipts (ADR), non-convertible debentures, and other routes. The development comes after the Supreme Court's September 1 verdict on the Adjusted Gross Revenue (AGR) issue, wherein the top court gave a 10-year timeline to the telecom companies to repay their dues, with an upfront payment
  • Will take up GST cut demand with FM, PM: Javadekar
    NEW DELHI, SEPTEMBER 4 (IANS): Union Minister Prakash Javadekar on Friday assured the automobile industry that he will take up its demand for a cut in the Goods and Services Tax (GST) with the Union Finance Minister and the Prime Minister. Speaking at the virtual Annual Convention of Society of Indian Automobile Manufacturers (SIAM), the Minister said that the industry will get some concessions to boost demand for vehicles, especially during the festive season. Acknowledging the
  • Worst behind us, Indian economy witnessing V-shaped recovery: DEA
    NEW DELHI, SEPTEMBER 4 (IANS): Days after India reported a 23.9 per cent contraction in its gross domestic product (GDP), the Department of Economic Affairs (DEA) in its Monthly Economic Review for August has said that the worst is over now as the Indian economy is going through a V-shaped recovery. DEA cited the uptick in manufacturing purchasing managers' index, auto sales, e-way bills among others to show that the country is witnessing a recovery. It noted that as countrie
  • Online, e-learning jobs witnesses 4X jump: Naukri
    NEW DELHI, SEPTEMBER 4 (IANS): Amid the Covid-19 pandemic, leading job portal Naukri.com on Friday revealed that its platform has witnessed four-fold jump in the demand for professionals for online, e-learning, and remote roles compared to last year. According to the report, the job listings for work from home roles within the education sector have also gone up by three and half-fold post-pandemic. Over 1,000 new jobs have been added to the Naukri platform in the education/teachi