Economy news - NewsLocker

RBI puts withdrawal cap on Deccan Urban Co-op Bank

19-02-2021 19:11 via timesofindia.indiatimes.com

The Reserve Bank on Friday said it has barred Karnataka-based Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits and customers cannot withdraw more than Rs 1,000 from their savings account for a period of six months.

'Govt may remove airfare band, lift restrictions'

19-02-2021 18:41 via timesofindia.indiatimes.com

With domestic air traffic expected to increase further in the coming summer season, the government may remove the fare band besides lifting other restrictions, minister of state for civil aviation minister Hardeep Singh Puri has said.

Bitcoin hits $1tn market cap, soars to another high

19-02-2021 18:41 via timesofindia.indiatimes.com

Bitcoin touched a market capitalization of $1 trillion as it hit yet another record high on Friday, countering analyst warnings that it is an "economic side show" and a poor hedge against a fall in stock prices.

FB's Australia news blackout: A shock 4 ys in making

19-02-2021 18:14 via timesofindia.indiatimes.com

Australian treasurer Josh Frydenberg was as shocked as anyone when he learned that Facebook Inc had blocked news content from its website in his country at 5:30 a.m. on Thursday.

Here's how to get free FASTag at toll plazas till March 1

19-02-2021 17:38 via zeenews.india.com

In addition to the above, a ‘Check Balance Status' feature has been added to the ‘My FASTag App’. The app will show the FASTag wallet balance status in colour codes — green for a tag with sufficient balance, orange for low balance, and red for those in negative, said the release.

World’s $281tn debt pile is set to rise again in 2021

19-02-2021 17:12 via timesofindia.indiatimes.com

Governments, companies and households raised $24 trillion last year to offset the pandemic’s economic toll, bringing the global debt total to an all-time high of $281 trillion by the end of 2020, or more than 355% of global GDP, according to the Institute of International Finance.

Markets close: Bears tighten grip, PSU bank and auto stocks worst hit

19-02-2021 17:04 via timesofindia.indiatimes.com

Markets close: Bears tighten grip, PSU bank and auto stocks worst hit

Govt likely to remove fare band, lift other restrictionsr: Puri

19-02-2021 16:38 via timesofindia.indiatimes.com

With domestic air traffic expected to increase further in the coming summer season, the government may remove the fare band besides lifting other restrictions, minister of state for civil aviation minister Hardeep Singh Puri has said.

Luxury brand Caviar comes with PlayStation 5, covered in 4.5 kg of gold, costs Rs 3.6 crore

19-02-2021 16:25 via zeenews.india.com

The product has created a stir despite carrying such a hefty price tag and has received 1342 applications from around the world. The application consists of many high profile personalities belonging to the business class. It is said that basketball superstar LeBron James has filled and application for the same among others.

SC asks RBI to lay down rules for bank locker facility

19-02-2021 15:29 via timesofindia.indiatimes.com

Holding that banks cannot wash off their hands towards their customers for the operation of lockers, the Supreme Court Friday directed the Reserve Bank of India (RBI) to lay down regulations within six months mandating the steps to be taken by banks with respect to locker facility management.

Android 12 to enhance security for users on work profile devices

19-02-2021 15:05 via zeenews.india.com

Google has announced to introduce the next level of security with Android 12, now in developer preview, that will provide more simplicity and utility for IT and more privacy and productivity for employees. Google has also improved the device setup process in Android 12 to prompt employees if their provided password doesn`t meet the complexity requirements set by their admin.

Bitcoin steams to new record, nears $1tn market cap

19-02-2021 14:59 via timesofindia.indiatimes.com

Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an "economic side show" and a poor hedge against a fall in stock prices.

Ikea to pump in Rs 5,500 crore to build mall in Noida

19-02-2021 14:30 via timesofindia.indiatimes.com

Ingka Centres, part of the Ingka Group, (which also includes Ikea Retail and Ingka Investments), on Friday took its first step to expand into India with a major land acquisition in India. The 47,833 sq m plot in Noida, Uttar Pradesh will be developed into an Ikea anchored retail destination, adding to Ingka Centres’ 45 existing Meeting Places around the globe.

Union Minister Nitin Gadkari suggests converting all govt vehicles into EVs

19-02-2021 14:30 via zeenews.india.com

Union Minister Nitin Gadkari was addressing the launch Go Electric campaign. He pledged to convert all vehicles in his ministry to EVs and urged other departments to follow suit in a bid to cut India's oil import dependence. Nitin Gadkari suggested that the use of electric vehicles should be made mandatory for all government officials.

Rs 25k cr zombie-home experiment starts to pay off

19-02-2021 14:15 via timesofindia.indiatimes.com

A Rs 25,000 crore ($3.5 billion) fund set up by India’s government to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers.

Petrol crosses Rs 90 mark in Delhi, diesel at Rs 80.60

19-02-2021 13:28 via timesofindia.indiatimes.com

Petrol price on Friday crossed the Rs 90-per-litre mark in the national capital, and diesel soared to Rs 80.60 after rates were increased for the 11th consecutive day in a row.

Conveyed commitment to protect privacy: WhatsApp

19-02-2021 13:13 via timesofindia.indiatimes.com

Hours after announcing the decision to go ahead with its controversial privacy policy update, WhatsApp on Friday said it has conveyed to the Indian government that it remains committed to protection of privacy of personal conversations across the country.

PM-Kisan final instalment for FY 2020-21 coming in March, it takes just 2 mins to check your name in beneficiary list

19-02-2021 12:42 via zeenews.india.com

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme was launched by PM Modi in 2019. The Scheme aims to provide income support to all landholder farmer families across the country with cultivable land, subject to certain exclusions. Under the Scheme, an amount of Rs 6000 per year is released in three 4-monthly instalments of Rs 2000 each directly into the bank accounts of the beneficiaries.

Hurray! IKEA's first India shopping mall coming in Noida

19-02-2021 12:42 via zeenews.india.com

The company is expected to invest Rs 5,000 crore in Noida in seven years, Noida Authority CEO Ritu Maheshwari said that officials estimate job creation for 2,000 persons due to the project.
The allotment, which has been made in Sector 51, was transferred by the Noida Authority that received Rs 850 crore from IKEA for the commercial land.

Market close: Sensex dives 435 points, Nifty settles below 15,000

19-02-2021 12:15 via timesofindia.indiatimes.com

Market close: Sensex dives 435 points, Nifty settles below 15,000

Good news for ESIC beneficiaries, avail cashless treatment from THESE hospitals across India

19-02-2021 12:10 via zeenews.india.com

To avail medical services in such areas, the ESI beneficiaries of such areas may visit the ESI empanelled hospital with ESI e-pehchan Card/Health Passbook alongwith Aadhar/Govt. issued Identity Card and avail cashless medical consultation for OPD services directly from such hospital.

Sensex tanks 435 points; Nifty gives up 15,000-mark

19-02-2021 11:46 via zeenews.india.com

Bank and auto Indices corrected sharply by 2-3 percent, while PSU bank index witnessed steeper correction by over 5 percent after registering back-to-back gains in last five trading days.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities fell sharply as profit booking across the sectors dragged the benchmark indices.

Sensex dives 435 pts; Nifty settles below 15,000

19-02-2021 11:42 via timesofindia.indiatimes.com

Equity indices fell for the fourth straight session on Friday with the benchmark BSE sensex falling over 400 points dragged by banking and auto stocks, amid negative cues from global markets. The 30-share BSE index slipped 435 points or 0.85 per cent to close at 50,890; while the broader NSE Nifty setlled 137 points or 0.91 per cent lower at 14,982.

Oppo Fantastic Days: Last day to grab smartphone worth Rs 12,990 at just Rs 790

19-02-2021 11:08 via zeenews.india.com

Chinese mobile manufacturer Oppo is hosting a sale on a leading e-commerce platform where customers can buy their favourite phone at a discounted price. Amazon Indian is hosting Oppo Fantastic Days, and today is the last day for the sale. The users with credit or debit cards from banks such as HDFC, ICICI, SBI can avail of an instant discount in the Oppo Fantastic Day sale.

'E-vehicles to be made mandatory for all govt officials'

19-02-2021 10:40 via timesofindia.indiatimes.com

Transport minister Nitin Gadkari on Friday made a case for making it mandatory to use electric vehicles for all officials in government ministries and department.

Electric vehicles usage should be made mandatory for all govt officials: Nitin Gadkari

19-02-2021 10:17 via moneycontrol.com

Addressing at the launch Go Electric campaign, Gadkari said, "Why don#39;t we provide subsidy on electric cooking appliances. We already provide subsidy on cooking gas. "

Gold Price Today, 19 February 2021: Great time to buy gold, prices down by nearly Rs 11,000 since last August

19-02-2021 10:06 via zeenews.india.com

On August 7, Gold price saw a record 16th straight session an all-time high of Rs 57,008 per 10 grams in the national capital. Silver too continued its upward movement, with the price touching a record-high of Rs 77,840 per kilogram.

Threat for PUBG? Valheim- viking survival game creates history in 13 days of its launch

19-02-2021 09:41 via zeenews.india.com

The most surprising thing is that the Valheim has taken over the ever most popular game PUBG on Steam. It took more than 90 days for PUBG to achieve the kind of popularity Valheim has got in just 13 days. It will really be exciting to see what Valheim has to offer in the upcoming time.

India visa curbs for Chinese workers hurting Taiwan cos

19-02-2021 09:27 via timesofindia.indiatimes.com

Geopolitical tensions between India and China are beginning to hurt some of Taiwan’s biggest technology companies, including suppliers to Apple Inc and hindering New Delhi’s much-vaunted incentive program for electronics manufacturing.

Discussed FB news ban With PM Modi, says Morrison

19-02-2021 09:27 via timesofindia.indiatimes.com

Facebook chief Mark Zuckerberg held talks with the Australian government on Friday over a law that would force the social media giant to pay for content, as Prime Minister Scott Morrison insisted the country would not bend to "threats" from big tech.

India visa curbs for Chinese workers hurting Taiwan tech giants

19-02-2021 09:13 via timesofindia.indiatimes.com

Geopolitical tensions between India and China are beginning to hurt some of Taiwan’s biggest technology companies, including suppliers to Apple Inc and hindering New Delhi’s much-vaunted incentive program for electronics manufacturing.

Senior citizens may be saddled with bigger TDS burden from July 1

19-02-2021 09:06 via zeenews.india.com

Since the new proposed TDS rules doesn’t provide any exception to cases where the person is not eligible to file ITR (case in point super senior citizen), it may be possible that banks may deduct higher TDS from the interest income from them.

Microsoft adding Kids Mode on Edge web browser for safer browsing, here's how to enable this feature

19-02-2021 08:26 via zeenews.india.com

Microsoft has been working hard to make its browser a better alternative to existing choices. In a recent development. the technology giant has announced that Microsoft Edge browser will soon a Kids mode for a safer browsing experience. The kids mode is being rolled out in US markets for both windows and mac os.

Reserve Bank of India's rap video warning against banking frauds is the coolest thing you will watch today --Here's the video

19-02-2021 08:14 via zeenews.india.com

"A little caution takes care of a lot of trouble. Never respond to requests to share PIN, OTP or bank account details. Block your card if stolen, lost or compromised," Reserve Bank of India (RBI) has tweeted.
RBI has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country.

WhatsApp to go ahead with update despite backlash

19-02-2021 07:59 via timesofindia.indiatimes.com

Facebook Inc's WhatsApp said on Thursday it will go ahead with its controversial privacy policy update but will allow users to read it at "their own pace" and will also display a banner providing additional information.

Biden admin introduces ambitious immigration bill

19-02-2021 07:59 via timesofindia.indiatimes.com

In a major move that will benefit hundreds and thousands of Indian IT professionals in America, the Biden administration has introduced an ambitious immigration bill in Congress which among other things proposes to eliminate the per-country cap for employment-based green cards.

Systematic Investment Plan: What is SIP, how to start SIP online, what are benefits of SIP and other questions answered

19-02-2021 07:51 via moneycontrol.com

SIP or systematic investment plan comes in handy for people who cannot afford to make lumpsum investments. Check out how to start SIP online and other details

Top CEOs share Words of Wisdom with Amitabh Shah led Yuva Unstoppable’s Gen Z Scholars

19-02-2021 07:04 via zeenews.india.com

Yuva Unstoppable empowers disadvantaged children and youth. They have impacted 1000,000 children and transformed over 2000 schools since inception in partnership with 100 plus top corporates. Their vision is to transform 10,000 schools and impact 5,000,000 children. To know more, visit yuvaunstoppable.org

WhatsApp to move ahead with privacy update despite backlash

19-02-2021 06:59 via timesofindia.indiatimes.com

Facebook Inc's WhatsApp said on Thursday it will go ahead with its controversial privacy policy update but will allow users to read it at "their own pace" and will also display a banner providing additional information.

FB blackout: Australia commits to content law

19-02-2021 06:59 via timesofindia.indiatimes.com

Australian Prime Minister Scott Morrison vowed on Friday to press ahead with laws to force Facebook Inc to pay news outlets for content, saying he had received support from world leaders after the social media giant blacked out all media.

Uber tells employees to work from home till mid-September

19-02-2021 06:37 via zeenews.india.com

Google has also extended work from home till September 2021 and when the offices reopen, employees may rejoin the workplace for three days a week and work from home on rest of the days.
Google had earlier set January 2021 as a tentative timeline for its workers to return to offices.

Bitcoin slightly better than holding cash: Musk

19-02-2021 06:31 via timesofindia.indiatimes.com

Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold.

Sensex drops over 250 points in early trade; Nifty slips below 15,050

19-02-2021 05:45 via zeenews.india.com

PowerGrid was the top loser in the Sensex pack, shedding around 3 percent, followed by ICICI Bank, NTPC, Bajaj Auto, Maruti, Bajaj Finance and SBI.
On the other hand, HUL, Reliance Industries, Bharti Airtel, L&T, M&M and HCL Tech were among the gainers.

Petrol price crosses Rs 90-mark in Delhi

19-02-2021 05:37 via timesofindia.indiatimes.com

Petrol and diesel prices went up for the eleventh consecutive day in the national capital and stood at Rs 90.19 and Rs 80.60 per litre, respectively on Friday.

RBI tightens norms for e-payments

19-02-2021 05:00 via timesofindia.indiatimes.com

The Reserve Bank of India (RBI) has tightened payment security norms, making banks and other regulated entities more responsible for apps provided by third parties. In its new directive on digital payments security control, the central bank has got down to the minutiae of the transactions.

Pvt asset rejig cos need cash to boost bad loans biz

19-02-2021 05:00 via timesofindia.indiatimes.com

Private asset reconstruction companies (ARCs) will need to come up with upfront cash or provide bank guarantees if they intend to compete with the national asset reconstruction company (NARC) for purchase of bad loans.

G-Secs worth Rs 25,000 crore left unsold, yields jump

19-02-2021 05:00 via timesofindia.indiatimes.com

Compounding the woes in the bond market, government securities (G-Secs) worth about Rs 25,000 crore, out of the Rs 31,000 crore put on auction this week, remained unsold.

Over 90% of companies plan to give hikes this year

19-02-2021 04:35 via timesofindia.indiatimes.com

After tightening during the pandemic, organisations are set to loosen purse strings and reward employees. Over 90% of companies plan to give a raise this year compared to 60% in 2020, with the average hikes seeing a jump of 3 percentage points.

High court relief for duo who set up Bitcoin ATM

19-02-2021 04:35 via timesofindia.indiatimes.com

Over two years after being booked for setting up a Bitcoin ATM in violation of RBI norms in a Bengaluru mall, co-founders of cryptocurrency exchange Unocoin, B V Harish and Sathvik Vishwanath, finally have something to cheer.

India rice exports pick up as additional port opened

19-02-2021 04:23 via moneycontrol.com

Waiting periods at the Kakinada Anchorage Port had reached up to four weeks, compared with about a week normally, because of congestion at the port.