Business - The Purbottar

21 Jun

The sale of BPCL and Air India is picking up speed as the second wave of Covid subsides

editor0 CommentsBusinessAir india, BPCL, Covid-19

Despite fears that the sale of BPCL and Air India would be postponed until the next fiscal year, the Centre now hopes to finish the process this fiscal year as the second wave of the coronavirus fades. Officials said the financial bids will now be called in September, despite concerns that they could only be called in the fourth quarter. They said the Union cabinet would soon consider tweaking the foreign direct investment policy to allow 100 per cent ownership of a state-owned refinery by global players through the automatic route. The BPCL divestment that involves the sale of the…

21 Jun

IndiaFirst Life’s Micro Bachat Plan

editor0 CommentsBusiness

IndiaFirst Life Insurance Company Limited (IndiaFirst Life) promoted by Bank of Baroda and Union Bank of India, has introduced IndiaFirst Life Micro Bachat Plan. This non-linked, participating, limited pay, micro-life insurance policy is designed to offer dual benefits of security and disciplined savings to secure life’s certainties. The competitively priced, low premium size makes this plan an ideal choice for ensuring security and savings. Providing financial support to the insured’s family, in case of any eventuality, the plan ensures constant life cover benefits despite missing a premium. Additionally, to take care of the liquidity needs, the loan facility on the…

18 Jun

Twitter Officials Appear Before Shashi Tharoor-Led Parliamentary Panel

editor0 CommentsBusiness, IndiaTwitter

Twitter representatives on Friday appeared before a parliamentary panel that had called the social media giant to discuss the issue of safeguarding citizens' rights and preventing misuse of online platforms. The parliamentary Standing Committee on Information Technology, headed by Congress MP Shashi Tharoor, heard their views on the subject. Top officials of Twitter are being called at a time when the government has clashed with the American social media giant over a range of issues including its stand on the new IT rules. “We appreciate opportunity to share our views before Standing Committee on IT. Twitter stands prepared to work…

18 Jun

Kotak Life Insurance expects to incur loss of Rs 225-275 crore in first quarter

editor0 CommentsBusinessKotak Life Insurance, Kotak Mahindra Bank

Kotak Life Insurance expects to incur a loss of Rs 225-275 crore in the first quarter ending June 2021 because of higher Covid-related claims and an increase in mortality related provisioning on account of the second wave. Kotak Life is a subsidiary of Kotak Mahindra Bank. The private sector bank shared an update by the life insurer on its business. It said that the second wave of the pandemic has led to an unprecedented increase in fatalities because of which there has been a rise in death claims since May. Its impact was discussed by the board of Kotak Life…

18 Jun

Flipkart adds new fulfillment center in West Bengal

editor0 CommentsBusinessFlipkart

In West Bengal, Flipkart added a new fulfillment center, the second-largest in the state. Spread across an area of over 2.2-lakh square feet and creating nearly 3,500 direct jobs, the new facility in Dankuni will cater to the needs of both Flipkart and Myntra customers in the region. It will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access. The new fulfilment centre (FC) will augment Flipkart’s capabilities to cater to more consumers, including millions of first-time e-commerce users in…

17 Jun

Personal features in Microsoft Teams

editor0 CommentsBusinessMICROSOFT

A chat and collaboration platform for all, Microsoft Teams is already a leading solution for working professionals. Users can download the iOS, Android, or desktop app to get started. Now, one can also connect with others through Microsoft Teams. The new features are designed to ensure easy and prompt conversations with others. A user can use Microsoft Teams in Assamese and will get access to all features of Teams and can any time change the language back to English. With Microsoft Teams, one can now speak to 300 people for 24 hours straight without any worry about phone bills. The…

17 Jun

Vi to provide Managed SIP service in India

editor0 CommentsBusinessSIP, vi

The enterprise arm of Vodafone Idea Limited (VIL), Vi Business has introduced Managed SIP service for businesses for which voice calls are a key business resource. Most Indian BPOs/KPOs, the BFSI and IT/ITES, telemarketers, VAS providers, conference service providers and similar sectors are currently relying on legacy TDM based PRI connections from multiple vendors. With Vi’s Managed SIP (MSIP), these organizations will now have the assurance of security as well as a window to monitor, measure and optimise their voice infrastructure. These services also help user clients get a complete view of their fixed telephony network, with best-in-class SLAs, voice…

17 Jun

UTI Treasury Advantage Fund provides good investment opportunity

editor0 CommentsBusinessUTI, UTI Treasury Advantage Fund

With an aim to generate reasonable income with lower volatility over the short-term, UTI Treasury Advantage Fund follows an accrual-oriented strategy by investing in a well-diversified portfolio of debt and money market instruments. UTI Treasury Advantage Fund primarily invests in commercial papers, certificate of deposits and low duration corporate bonds along with tactical exposure to government securities, according to UTI sources. It may be mentioned here that in the recent monetary policy announcement (as was widely expected), the MPC voted unanimously to continue accommodative stance and to maintain the repo rate at 4.00%. The Governor also announced the third tranche…

17 Jun

‘Pure business’ at Biden-Putin summit

editor0 CommentsBusinessBusiness, Russia

President Joe Biden and Russian President Vladimir Putin concluded their summit on Wednesday with an agreement to return their nations’ ambassadors to their posts in Washington and Moscow and a plan to begin work toward replacing the last remaining treaty between the two countries limiting nuclear weapons. But the two leaders offered starkly different views on difficult simmering issues including cyber and ransomware attacks originating from Russia. Putin insisted anew that his country has nothing to do with such attacks, despite U..S. intelligence that indicates otherwise. Biden, meanwhile, said that he made clear to Putin that if Russia crossed certain…

16 Jun

Twitter loses legal shield in India

editor0 CommentsBusinessTwitter

Twitter has lost its legal protection in India from prosecution over users' posts because of its failure to comply with new digital rules, government sources said today as a case was filed in Uttar Pradesh against the social media giant over tweets that the police say attempted to incite communal trouble.Twitter has not yet complied with all the provisions of the rules that came into force on May 25, sources in the Ministry of Electronics and IT said. “Due to their non-compliance their protection as an intermediary is gone. Twitter can face liability for violating any Indian law just as…