Blog - The Purbottar

06 Feb

RBI Keeps Lending Rate Unchanged At 5.15%, Pegs Growth At 6% In 2020-21

editor0 CommentsNorth East

The Reserve Bank of India (RBI) kept the repo rate unchanged at 5.15 per cent on Thursday, in line with economists expectations, in a bid to combat inflation. The central bank, however, retained its accommodative monetary policy stance as growth remains lacklustre. RBI Governor Shaktikanta Das-led Monetary Policy Committee decided to continue with an "accommodative" policy stance "as long as it is necessary to revive growth, while ensuring that inflation remains within the target". The "underlying theme of our decisions is financial stability", said the RBI governor. All six members of the Monetary Policy Committee voted in favour of maintaining…

06 Feb

Weak Growth To Pull Down Rupee, Coronavirus Fears To Impinge

editor0 CommentsNorth East

The battered rupee will weaken further against the dollar over the coming year as a significant pickup in economic growth is unlikely, according to a Reuters poll of strategists who said the coronavirus outbreak was a downside risk.While Reserve Bank of India Governor Shaktikanta Das has said reviving growth was a 'national objective' in coordination with the government, the latest budget provided only minimal support to the slowing economy.That comes as a deadly coronavirus epidemic that is spreading globally has spooked investors and sent them rushing for cover into safe-haven assets and shunning emerging markets.

05 Feb

XLRI Achieves 100% Placement in two days at Final Recruitment Process 2020

editor0 CommentsNorth East

XLRI- Xavier School of Management has successfully achieved 100% placements for the outgoing batch of 2018-20 of its flagship programs: Two-year Postgraduate Diploma in Management – Human Resource Management and Two-year Postgraduate Diploma in Management - Business Management with all 359 candidates securing offers through the final recruitment process within two days. The Final Recruitment process saw participation from 108 recruiters with 362 domestic and international offers, inclusive of 24 new finals recruiters. Fr. J Christie, Director, XLRI - Xavier School of Management commented, “We are happy to announce that this year’s placement season has once again witnessed remarkable success in spite of the longish economic slowdown. Interest in XLRI’s students has been…

04 Feb

Coming Up, LIC And Other Multi-Billion Dollar IPOs In India

editor0 CommentsNorth East

India is gearing up for what could potentially be a slew of mega initial public offerings.Prime Minister Narendra Modi's government surprised investors on Saturday by saying it will sell part of its stake in state-run behemoth Life Insurance Corporation of India to meet its record asset-sale target. The jumbo sale could fetch the government between Rs 850 billion ($11.9 billion) and Rs 900 billion if it gets done this year, Credit Suisse Group AG analysts led by Neelkanth Mishra wrote in a note.Meanwhile, Sameer Kalra, a strategist at Target Investing, estimates the IPO to be valued between Rs 910 billion…

04 Feb

Titan Q3 Net Profit Rises 13% To Rs 470 Crore Due To Festival Cheer

editor0 CommentsNorth East

Titan Company reported a 12.9 per cent rise in standalone net profit at Rs 469.95 crore for the quarter ended December 2019 compared to net profit of Rs 416.23 crore in the same quarter a year ago, due to the festival season in October and November, the company said in a regulatory filing. Sales for the quarter under consideration rose 8.4 per cent to Rs 6,105.96 crore from Rs 5,632.45 crore in the same quarter last year. The jewellery business recorded income growth of 10.6 per cent at Rs 5,409 crores in the third quarter this year compared to Rs…

04 Feb

Government May Issue $5 Billion Of Bonds With No Foreign Investment Cap

editor0 CommentsNorth East

The government is likely to issue at least $5 billion worth of bonds with no limits on foreign investment next year, in a bid to list the bonds on global indices and attract more foreign funds, according to two finance ministry sources.Government is likely to issue the bonds in several tranches of at least $400 million each, one source said."We have spoken to major index operators and we will start pushing these bonds in tranches very early in the first half of the next fiscal year itself," the first official said.

04 Feb

Paytm launches All-in-One Android POS for small businesses and merchant partners

editor0 CommentsBusiness

India's largest payments platform Paytm (owned by One97 Communications Limited) today announced the launch of All-in-One Android POS device for merchant partners across the country. This device helps merchants to accept payments through Paytm Wallet, all UPI based apps, Debit & Credit Cards and most importantly - Cash. Besides accepting payments, merchants will also be able to generate GST compliant bills and manage all transactions and settlements through their 'Paytm for Business' app at one go. Paytm All-in-One Android POS is a fully-loaded payment acceptance device with many industry-first features & services. The android based device comes with a full-size display…

03 Feb

EVs should become cheaper than traditional vehicles within three years

editor0 CommentsBusiness

NITI Aayog CEO Mr Amitabh Kant today said that electric vehicles should become much cheaper than combustion vehicles in three years. Mr Kant further said that the price of battery packs of EVs is expected to fall to $76 per kilowatt hour (or unit) in three years, down from the present day $156/unit. At that point, he said, even the upfront cost of electrical vehicles will become cheaper than combustion vehicles, with the total cost of ownership already competitive. Mr Kant was speaking at the Mobility Talk Corporate Conclave at the World Sustainable Development Summit 2020, TERI’s annual flagship event…

01 Feb

Deduction Of Rs 1.5 Lakh On Home Loan Interest Extended Till March 2021

editor0 CommentsNorth East

Aiming to boost the affordable housing demand, Finance Minister Nirmala Sitharaman on Saturday proposed to extend the date of availing an additional Rs 1.5 lakh tax deduction on home loan interest by one more year till March 2021.The additional deduction of Rs 1.5 lakh over and above Rs 2 lakh was introduced in the last year's budget. This was allowed for those buying homes for the first time and of up to Rs 45 lakh and made applicable for home loans sanctioned till March this year.The finance minister also announced that builders will get tax holiday on affordable housing projects…

01 Feb

Budget 2020: Insurance Cover For Bank Depositors To Be Raised To Rs 5 Lakh

editor0 CommentsNorth East

Finance Minister Nirmala Sitharaman proposed to increase the insurance cover for bank depositors to Rs 5 lakh from the existing Rs 1 lakh. The existing Reserve Bank of India rules stipulate that in case of a bank failure, each depositor is insured up to a maximum of Rs 1 lakh for both principal and interest amount. The cover of Rs 1 lakh is irrespective of the deposit held by the customer in the savings or fixed deposit account and has been in force since 1993, when the cover was raised from Rs 30,000 to Rs 1 lakh.