Business news

Lakshmi Vilas Bank depositors fret not; your money is safe

RBI has placed a moratorium on Lakshmi Vilas Bank (LVB), placing a Rs 25,000 withdrawal cap in a month. But this is no reason for you to panic or rush to the bank.

Nov 17, 2020

RBI puts Lakshmi Vilas Bank under moratorium; withdrawals capped at Rs 25,000 [details]

With the permission of RBI for medical treatment, fees for the payment of higher education, and marriage expenses, approval will be allowed to withdraw more money.

Nov 17, 2020

Reliance Retail Ventures acquires 96% holding in Urban Ladder for Rs 182 cr | Details inside

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (RIL) has acquired equity shares of Urban Ladder Home Decor Solutions Private Limited (UrbanLadder) for a cash consideration of Rs 182.12 crore.

Nov 15, 2020

Huge relief to tax payers; KTR waives 50% domestic property tax in Telangana as Diwali gift

As part of the tax waiver plan, all the domestic households who have to pay property tax up to Rs 15,000 in Greater Hyderabad Municipal Corporation (GHMC) limits will benefit a 50 per cent reduction.

Nov 14, 2020

Anugrah Stock & Broking suspended for several violations; SEBI opens inquiry

The firm had also failed to deposit the sum of Rs 165 crore by August 31, 2020, as directed by SAT.

Nov 14, 2020

Zomato COO Gaurav Gupta to now focus on company's nutraceuticals biz ahead of IPO

Zomato's COO will now be focusing on the company's nutraceuticals business, which is touted to be a value driver for the food-delivery company.

Nov 9, 2020

Nifty, Sensex hit record highs as Biden win boosts IT stocks, Asian markets

Indian markets touched record highs on Monday as IT stocks gained after a report said that U.S. President-elect Joe Biden planned to ease policy on work visas, with his victory also boosting broader Asian markets and aiding domestic sentiment.

Nov 9, 2020

Saudi Arabia's PIF to buy 2.04% in Reliance Retail for Rs 9,555 cr

Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced that the Public Investment Fund (PIF) will invest Rs 9,555 crore (approximately $1.3 billion) for an equity stake of 2.04 per cent into RRVL, a subsidiary of Reliance Industries.

Nov 5, 2020

RIL Q2 result: Mukesh Ambani loses $5 billion as share tanks more than 8%

RIL's stock has outperformed Sensex with a 29% jump since the beginning of this year but due to crashing oil demand, its revenues fell

Nov 2, 2020

Selling home food without license: Rs 5 lakh fine, six months jail awaits

It Is Illegal to operate a food business without an FSSAI license. If anyone is found selling even home-food without one could invite a fine of Rs 5 lakhs or six months jail.

Nov 1, 2020

Who is Mohit Joshi; new CEO of Havas Media Group

Mohit Joshi was managing director of Havas Media Group before being promoted to the role of CEO.

Oct 30, 2020

President Trump slams Visa Lottery Program at FBI National Academy graduation ceremony

H-1B visa only for those with top salary offers; Trump admn moves to scrap lottery system

The US has so far been using a lottery system to randomly select the 85,000 people who would get the visas because of the high number of applicants - more than 200,000 this year.

Oct 29, 2020

IndusInd Bank first to go live on RBI's Account Aggregator framework; benefits explained

RBI's AA framework enables an open banking ecosystem, allowing individuals and small and medium businesses to avail services seamlessly as financial information is made easily accessible.

Oct 29, 2020

Flipkart emerges winner during festive sale; Amazon thinks not

Amazon has responded to the RedSeer report, raising questions on its methodology that helped draw the conclusion that Flipkart was the winner in terms of sales.

Oct 28, 2020

Airtel enters $1bn cloud communications market in India

Telecom major Bharti Airtel on Monday launched a new platform called Airtel IQ, marking the company's entry into an estimated $1 billion Indian cloud communications market.

Oct 26, 2020

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