Business - The Purbottar

27 Jul

Atul Auto partners with CSC Grameen eStore

editor0 CommentsBusinessBusiness

Atul Auto Limited is the first amongst leading 3 wheeler OEMs to partner with CSC Grameen eStore, an e-commerce initiative by CSC eGovernance Services India Ltd to promote digital ordering and delivery in rural areas. As a part of the partnership, the automaker's product range will be listed on CSC Grameen eStore and made available to potential customers in hinterlands and deep rural areas through aspirational VLEs (village level entrepreneurs). The joint digital launch was done by Dr. Dinesh Tyagi, MD-CSC SPV, Shri Raja Kishore, COO - CSC Grameen eStore, Mr. Niraj Chandra, Director, Atul Auto Ltd, and Mr. Pushkar…

27 Jul

Asian Granito on a strong growth momentum

editor0 CommentsBusinessBusiness

Asian Granito India Limited (AGIL), one of India's leading tiles companies is aiming to continue the strong growth momentum in the FY 22. Strategic growth initiatives, operational efficiencies, financial prudence, geographical and product expansion along with low capex and asset light model for expansion are likely to drive the growth in the revenue and margins for the current financial year. Company has recently announced a rights issue of Rs. 225-crore, proceeds of the issue to be utilised to reduce debt and for expansion purpose. For the Q4FY21, company posted healthy 68% growth in the net sales, 100% growth in EBITDA…

27 Jul

Axis Bank buys 5.55 pc stake in fintech firm IBBIC

editor0 CommentsBusiness, IndiaBusiness

Axis Bank said it has bought 5.55 per cent stake in financial technology firm IBBIC. The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid-up capital of IBBIC, Axis Bank said in a regulatory filing. Incorporated in May this year, IBBIC platform offers distributed ledger technology (DLT) solutions to the Indian financial services sector. “Equity ownership of IBBIC is aimed at providing DLT solutions for the financial services sector,”…

27 Jul

Vi Announces a new campaign

editor0 CommentsBusinessBusiness, TECHNOLOGY

Leading telecom services provider, Vi, has unveiled a new campaign focusing on Vi Hero Unlimited plans. The campaign that features popular actor Vinay Pathak as the protagonist, presents Vi Hero Unlimited plans as the solution to the perpetual problem of data quota exhaustion faced by prepaid users. The campaign highlights the 3 features that Vi Hero Unlimited plans offer - Weekend Data Rollover, Night Time Free Data from 12am to 6am and Double Data, all under one umbrella. Thus, assuring a worry free mobile internet experience for customers. Vi Hero Unlimited campaign seeks to drive home the unlimited possibilities for…

26 Jul

By 2025, Covid will have cost world between $16 tn and $35 tn

editor0 CommentsBusiness, Covid-19, India, worldCovid-19, Lockdown

By 2025, Covid-19 will have cost the world between $16 trillion and $35 trillion, as per McKinsey. The world is unlikely to ever reach global herd immunity, but it can contain the virus with a combination of vaccines, improved testing, and smarter quarantining, based on known outbreaks, rather than large, blunt lockdowns, McKinsey said in a report. Obstacles to worldwide vaccination remain huge: while 49.6 per cent of inhabitants of high-income countries had received at least one dose of the vaccine as of July 14, only 1 per cent of those in low-income countries had. In the next two decades,…

26 Jul

No plan to print currency notes to tide over crisis: FM

editor0 CommentsBusiness, Indiafinanceminister, Nirmala Sitharaman

The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, “No Sir”. Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19, and protect jobs. India’s real Gross Domestic Product (GDP) is estimated to have contracted by 7.3 per cent during 2020-21, Sitharaman…

26 Jul

Rs 1,060 cr spend on Chennai-Bengaluru Industrial Corridor project

editor0 CommentsBusiness, Indiabengaluru, Chennai

A total of Rs1,060.02 crore has been spent during the last three fiscal years for the Chennai-Bengaluru Industrial Corridor project, the government told the Rajya Sabha. Answering a question raised by MDMK General Secretary Vaiko, the Minister of State for Commerce and Industry Som Parkash said the Cabinet Committee on Economic Affairs (CCEA) on 30th December, 2020, approved the project cost of Krishnapatnam node (Andhra Pradesh) and Tumakuru node (Karnataka) as Rs 2,139.44 crore and Rs 1,701.81 crore respectively. The timelines for the construction of trunk infrastructure in these two nodes is 36-48 months, the government said.

26 Jul

No revision in petrol, diesel prices

editor0 CommentsBusiness, IndiaBusiness, Fuel

Oil marketing companies (OMC) continued to pause fuel price revision for the ninth consecutive day on Monday, the longest period in weeks, as global development on oil production and rising US inventories has softened crude and product prices. However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision. Already, crude has firmed a bit for last few days and this could prevent price cut by OMCs. With no change in prices on Monday, petrol continues to be sold in the national capital…

24 Jul

YouTube hits 10 bn Play Store download milestone

editor0 CommentsBusiness, Entertainment, Internationalyoutube

The Google-owned YouTube app for Android users has surpassed a whopping 10 billion downloads on the Google Play Store. According to 9To5Google, video streaming has exploded in popularity over the past decade with improving global internet speed, introduction of 4G devices and increasing access to smartphones/tablets. As the largest and most well-known streaming platform globally, it was always likely that YouTube would become the first “proper” user-facing Android app to hit such a download milestone on the Play Store, it added. Given that the app comes pre-installed on almost all devices, it is marginally bolstered and could even include some…

23 Jul

Phones of ex-CBI chief Alok Verma allegedly listed for snooping using spyware

editor0 CommentsBusiness, Crime, IndiaCBI chief

After Alok Verma was removed as the director of the Central Bureau of Investigation (CBI), eight phones belonging to him and his family members were allegedly put on the list of devices targeted for snooping using Pegasus spyware by an unknown Indian agency. According to The Wire, eight phones belonging to Verma's family, including three of him along with those of his wife, daughter and son-in-law were put in the list of persons of interest targeted by the Israeli snooping malware. Besides Verman, phones of his second-in-command Special Director Rakesh Asthana, against whom he had registered a corruption case on October 21,…