Business - The Purbottar

12 Dec

Credit card defaults have upgrade by 110 basis points, the study said

editorBusiness, News

RBI data shows that the number of credit cards issued by banks has also increased sharply to 10.61 crore by September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021.Credit card repayment defaults are on the rise, reflecting growing stress and debt burden among customers. Credit card repayment defaults or portfolio risk (PAR) in banking parlance for credit cards with 91-180 days past due (DPD) have increased by 110 basis points to 7.6 per cent by June 2024 from 6.5 per cent in June 2023, a study said.This means that defaults…

12 Dec

Nissan announces Abhishek Arora as director for DND-CQT & Transformation

Business BureauBusiness

Nissan Motor India (NMIPL) has announced the appointment and role expansion of Abhishek Arora as Director - Dealer Network Development and Customer Quality Training (DND-CQT), in addition to his current role as Director - Transformation & New Projects, effective from 14 November 2024. In his new role, Abhishek will lead the brand’s channel development and management, driving strategic initiatives linked to network development and business to ensure Nissan is future-ready for the upcoming products. Abhishek had joined Nissan in September 2024 as Director - Transformation and New Projects and was given interim charge of Director - DNDCQT in October 2024.…

12 Dec

Foreign Secretary Mr. Misri expresses concern over attacks on minorities

Business BureauBusiness

On an official visit to Bangladesh, Foreign Secretary Vikram Misri has met with Dr. Muhammad Yunus, Chief Advisor to Bangladesh's interim government, and Foreign Affairs Advisor Mohammad Touhid Hussain. During the meetings, Mr. Misri expressed concern over the ongoing attacks on minorities in the neighboring country. He conveyed that New Delhi seeks to build “positive, constructive, and mutually beneficial” relations with Dhaka. Arriving in Dhaka on Monday, Mr. Misri also held consultations with Bangladesh’s Foreign Secretary, Masud Bin Momen. The Indian Foreign Secretary reiterated India's desire to build a positive and constructive relationship with Bangladesh based on mutual trust, respect,…

11 Dec

Cement prices may increase by 4%, which is good news for the sector

editorBusiness, News

According to CLSA, the Indian cement sector may see a price increase of 4% in the second half of FY25 and this will be good news for companies that have been affected by low prices across India for the last several quarters. However, the sustainability of these price increases remains a key monitorable factor, according to the brokerage. Cement prices increased by Rs 10-30 per bag in early December. The increase was the highest in the eastern and central regions of India at Rs 20-30 per bag, while the rest of the regions saw an increase of Rs 10.This means…

11 Dec

NHC Foods Ltd launches Rs. 47.42 crore rights issue

Business BureauBusiness

NHC Foods Ltd, a company specializing in the export of a wide range of food products, has opened its Rs. 47.42 crore rights issue for subscription. The rights issue, attractively priced at Rs. 1 per share, is a significant discount compared to the current market price of Rs. 2.76 per share, as of December 6, 2024. The offer will close on December 18, 2024. Shareholders are entitled to subscribe to the issue at a ratio of 4:1, meaning they can purchase four new shares for every existing share held on the record date of November 26, 2024. Investors can also…

11 Dec

Future Generali India Life Insurance promotes insurance awareness in Gangtok

Business BureauBusiness

Future Generali India Life Insurance Company Limited (FGILI) successfully hosted an insurance awareness and financial inclusion program in Gangtok, targeting rural communities in the region. The event, held at the New Panchayat Office Building Auditorium in Deoralli, engaged 160 key representatives from 51 Gram Panchayat Units across Gangtok and Pakyong districts. The initiative, supported by officials from the Rural Development Department (RDD), aims to boost insurance penetration in Sikkim, aligning with the Government of India’s goal of "Insurance for All by 2047." Mr. AlokRungta, MD & CEO of FGILI, highlighted the company’s commitment to providing financial protection to underserved rural…

10 Dec

Retail vehicle sales increase 11.2 percent in November

editorBusiness, News

According to data compiled by the Federation of Automobile Dealers Association, retail sales of vehicles across categories in India rose 11.21 percent to 32,08,719 units in November as against 28,85,317 units in the same month last year. Retail sales of two-wheelers rose to 26,15,953 units in November as against 22,58,970 units in the same month last year. This shows a robust growth of 15.8 percent.

10 Dec

DUROPLY OFFERS LIFETIME GUARANTEE AGAINST TERMITE AND BORER INFESTATION ACROSS ITS RANGE OF WOOD PRODUCTS

Business BureauBusiness

Duroply, India's premium and one of the most experienced among the leading plywood manufacturers, offers Lifetime Guarantee against termite and borer infestation across its range of wood products (plywood, veneers, doors, and blockboards). Duroply was the first Company to introduce this industry unique value proposition way back in 2016. Widely respected for such customer centric product innovations, Duroply manufactures products that last generations. With this guarantee, Duroply reaffirms its commitment to providing long-lasting, and superior-quality products that meet the highest standards of durability and reliability, fulfilling the evolving needs of home owners, architects, and interior designers across the country. Akhilesh…

09 Dec

Oil prices upgrade as China eases monetary policy to boost economic growth

editorBusiness, News

Oil prices rose more than 1% on Monday, as top importer China took its first step toward easing monetary policy for the first time since 2010 to boost economic growth, state media reported, citing a politburo meeting. Brent crude futures rose $1, or 1.4%, to $72.12 a barrel at 1356 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.09, or 1.6%, to $68.29. "Oil prices are likely to jump as monetary policy easing in China has boosted risk sentiment," said UBS analyst Giovanni Stauno. China's growth has stalled, as a slowdown in the property market has hit confidence and…

09 Dec

Courtyard by Marriott Shillong ushers in festivities with grand celebration

Business BureauBusiness

Courtyard by Marriott Shillong marked the beginning of the holiday season with its Second Edition of the Cake Mixing and Tree Lighting Ceremony on December 8, 2024. The event brought together dignitaries, loyal patrons, and community members, setting a festive tone with a blend of tradition and innovation. The hotel transformed into a winter wonderland, with a magnificent Christmas tree and dazzling decorations creating an enchanting ambiance. Esteemed guests such as East Khasi Hills Deputy Commissioner Smt. Rosette Kurbah, Archbishop Victor Lyngdoh, and MDC BajopPyngrope graced the occasion, adding to its grandeur. The Cake Mixing Ceremony symbolized unity, with participants…