Business - The Purbottar

28 Sep

State Bank of Sikkim & SBI Life Insurance sign a bancassurance pact, to make comprehensive insurance solutions

Business Bureau0 CommentsBusiness

SBI Life Insurance, a trusted private life insurer in India, has signed a bancassurance pact with the State Bank of Sikkim (SBS) at the bank’s headquarters in Gangtok, Sikkim, to make comprehensive insurance solutions accessible to residents of Sikkim. Ensuring greater reach and penetration, the partnership will see an extensive distribution network of the State Bank of Sikkim spread across the state and offer SBI Life’s diverse range of protection, wealth creation, and savings insurance products to its customers. This partnership will empower customers to address their complete financial needs under one roof, making insurance products more accessible and affordable.The…

28 Sep

UTI Mutual Fund to open a New Financial Centre at Nagaon

Business Bureau0 CommentsBusiness

UTI Asset Management Company, one of India's largest asset managers, is expanding its distribution reach with the launching of 29 new Financial Centers across 29 cities in a single day. UTI Mutual Fund has announced the opening of a new UTI Financial Centre at Nagaon. The new UFC will be opening at R.R.B ROAD. Haibargaon, District: Nagaon, State: Assam, PIN Code: 782002, Telephone No: 8657967277. The new offices will be inaugurated on 29 September 2023, demonstrating UTI AMC's commitment to providing better financial services and accessibility to investors. Mr. Imtaiyazur Rahman, MD and CEO stated, “We are constantly stepping up…

28 Sep

I-T department searches Lenovo as part of tax evasion probe

Business Correspondent0 CommentsBusiness

The I-T (Income-tax) department raided at the at the offices of IT hardware maker Lenovo on September 27 (Wednesday) as part of a tax evasion probe against the company and some of its affiliates, official sources said. The raids were conducted at the offices in Haryana's Gurugram and Karnataka's capital city Bengaluru, they said. Lenovo leads the global personal computer (PC) market with a 24% share. The company clocked USD 1.9 billion in revenue in India in the financial year 2022-2023 , with a market share of 17% in the country. The sources said the taxman suspects tax evasion and…

28 Sep

Govt. introduces 50-year bond to meet life insurance companies’ demand

Priyanka Bhowmick0 CommentsBusiness, IndiaINDIA

The central government will sell 50-year bonds for the first time to meet demand for long-dated securities from the country's life insurance and pension fund sectors. This comes as a major development in the country's financial sector as a rapidly growing middle class seeks long-term financial security and retirement planning through such investments. The new 50-year bonds announced in the borrowing plan released by the Reserve Bank of India on Tuesday will add to the 30-year and 40-year tenor bonds currently offered. “Investor demand has strengthened, supported by the expansion of the formal sector, with households allocating a higher share…

28 Sep

Asia Healthcare acquired majority stake in AINU

Business Bureau0 CommentsBusiness

Asia Healthcare Holdings (AHH), a single specialty healthcare delivery platform, has acquired a majority stake in the Asian Institute of Nephrology and Urology (AINU), India's largest single specialty hospital network. AHH plans to invest 600cr in the company through primary and secondary infusions. This acquisition marks AHH's expansion into a fourth speciality, making it the largest and only single speciality healthcare delivery platform in India and the Asian sub-continent. AHH, launched in 2017, has scaled enterprises in Oncology, Women & Children's, and IVF & Fertility, all achieving leadership positions within their respective domains. In 2013, AINU, established by top Urologists…

27 Sep

Festive cheer: Milk prices may not rise further, says Amul chief

Business Correspondent0 CommentsBusiness

Cooperative Milk Marketing Federation MD Jayen S Mehta(owner of Amul) said that the prices of the milk may not rise further in 2023, the arrival of monsoons on time resulted into a pretty good situation. He further said that the timely monsoon has also helped dairy farmers to remain free from pressure of high prices of feed and fodder by keeping them under control. Earlier this year due to low production of milk the prices of it were increased in many cities.

27 Sep

Samsung India Launches Eighth Edition of Samsung E.D.G.E. Campus Program

Business Bureau0 CommentsBusiness

Samsung India announced the eighth edition of its pan- India campus program Samsung E.D.G.E, inviting¬ young minds from India’s premier institutions to work on real-world problem statements, giving them an opportunity to learn from Samsung’s top leaders and come up with unique solutions to the problems. The event, which will be held across 35 campuses, will feature students from top B-Schools, engineering colleges, and design schools. The program will be divided into three rounds, starting with ideation and involving 45 shortlisted teams. The first round will involve collaboration and constructing an executive case summary. The next round will involve 45…

27 Sep

The Grand Shopsy Mela witnessed Strong Growth as the Festive Season rolls in

Business Bureau0 CommentsBusiness

Flipkart's Shopsy, India's fastest-growing e-commerce platform, has concluded its third edition of the Grand Shopsy Mela, attracting heightened participation from Bharat. Local sellers from across the country served millions of customers in Tier 2+ cities, promoting economic growth for lakhs of regional sellers. Shopsy plans to bring its value-based products to Tier 2 to Tier 4 markets during Flipkart's The Big Billion Days 2023. The 6-day event from 12th to 17th September saw high volumes of customers in tier 2 and tier 3 markets, with Shopsy customers growing by 2X. 40% were first-time shoppers, and Uttar Pradesh, West Bengal, and…

27 Sep

Utkarsh Small Finance Bank introduces ICCW Using UPI on ATMs

Business Bureau0 CommentsBusiness

Utkarsh Small Finance Bank Limited (USFBL) has introduced a groundbreaking service set to redefine the cash withdrawal experience. USFBL has unveiled the Interoperable Cardless Cash Withdrawal (ICCW) service, which harnesses the power of the Unified Payments Interface (UPI) within its ATM network. This initiative aligns seamlessly with the Reserve Bank of India's directive, urging all banks to incorporate Interoperable Cardless Cash Withdrawal (ICCW) options at their ATMs, and Utkarsh Small Finance Bank has taken the lead in fulfilling this mandate. The ICCW service empowers UPI-enabled bank customers to effortlessly withdraw cash from specifically designated Utkarsh Small Finance Bank ATMs, all…

27 Sep

Droom Study indicates that the MG Hector Diesel provides the most favorable resale value

Business Correspondent0 CommentsBusiness

Droom, India's leading automobile e-commerce platform, conducted a study to determine the best SUV for resale value. The MG Hector Diesel emerged as the industry leader, achieving an 85% resale value against competitors like the Hyundai Creta, Tata Harrier, Mahindra XUV700, Mahindra XUV300, Kia Seltos, and Hyundai Alcazar. This demonstrates the vehicle's enduring legacy, as it is known for its reliability and durability, ensuring its value remains intact for years to come. A glimpse at the Resale Value Percentages: MG Hector Diesel: 80-85%, Hyundai Creta: 60-65%, Tata Harrier: 55-60%, Mahindra XUV 700: 70-75%, Mahindra XUV 300: 50-55, Kia Seltos: 60-65%.…