Economy news

• BSNL, MTNL yet to clear AGR dues of over Rs 10k cr

  08-04-2021 18:12 via timesofindia.indiatimes.com
  
  State-run telecom firms BSNL and MTNL have not cleared their adjusted gross revenue (AGR) dues of over Rs 10,000 crore as calculated by the Department of Telecom, according to an official source.
  
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• Hero launches its most affordable bike, check price, features and more

  18-04-2021 13:11 via zeenews.india.com
  
  At this price point, the newly launched bike will aim to give Bajaj CT100 a run for its money in the 100 cc commuter motorcycle segment.
  
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• GST officers to be soon armed with real-time data on vehicles moving without e-way

  18-04-2021 13:02 via zeenews.india.com
  
  The tax officers would also be provided analysis reports on identifying e-way bill EWB with no movement of goods as it would help officials identifying cases of circular trading. It would also provide reports on recycling of e-way bills for tax evasion prone commodities to help officers in identifying tax evaders.
  
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• Bitcoin tumbles 8.5% intraday, biggest fall since February, should you buy it?

  18-04-2021 12:17 via zeenews.india.com
  
  Other cryptocurrencies were also feeling the pinch of the plunge that may have been caused due to the US Treasury’s speculated crackdown on money laundering via digital assets. 
  
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• 7th Pay Commission: THESE central govt employees will get 'Special Allowance'

  18-04-2021 08:58 via zeenews.india.com
  
  Previously, the government had already announced that it would reinstate the Dearness Allowance(DA) and Dearness Relief(DR) from July 1. The central government employee's DA will be increased from 17 percent to 28 percent which includes a 3 percent, 4 percent, and expected 4 percent DA hike due from 1st January 2021.
  
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• CitiBank exit: SBI, private banks eye Citi’s credit card business

  18-04-2021 08:38 via zeenews.india.com
  
  Citi lost its dominance in the credit card business to other players and therefore slowed down its customer acquisition game even before the final decision of moving out of the business.
  
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• Gold imports rise by 22.58% to $34.6 bn in 2020-21

  18-04-2021 08:33 via zeenews.india.com
  
  Silver imports during the last fiscal, however, dipped by 71 per cent to about USD 791 million. Imports of the yellow metal stood at USD 28.23 billion (about Rs 2 lakh crore) in 2019-20, the data showed. Despite growth in gold imports, the country's trade deficit narrowed to USD 98.56 billion during 2020-21 as against USD 161.3 billion in 2019-20.
  
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• Govt will respond with fiscal steps if required: Niti Aayog

  18-04-2021 08:24 via timesofindia.indiatimes.com
  
  While acknowledging that the present situation has become far more difficult than it was in the past due to rising coronavirus infections, Kumar remained hopeful that the country's economy will grow 11 per cent in the current fiscal ending March 31, 2022.
  
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• Amazon founder Jeff Bezos shares note from a couple who bought 2 shares in 1997

  18-04-2021 07:52 via zeenews.india.com
  
  Amazon founder Jeff Bezos has written an annual letter to shareholders in which he had mentioned a couple who had bought two shares of Amazon in 1997 and got a huge growth in value in 24 years but they have no plans to use the proceeds to buy a house.
  
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• Amazon Pay now 5 million merchants strong, new app launched for businesses

  18-04-2021 07:37 via zeenews.india.com
  
  Amazon revealed that 2.5 million merchants out of the total 5 million businesses operate retail and shopping outlets such as Kirana stores.
  
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• RTGS not working: Find out why and how to transfer funds for now

  18-04-2021 06:52 via zeenews.india.com
  
  The RBI had also directed banks to advise their customers so that they can plan their payment operations accordingly.
  
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• Bitcoin owners, now secure loans against your crypto investments

  18-04-2021 06:34 via zeenews.india.com
  
  Currently, firms like EasyFi Network, Valud and Cashaa, among others, are offering loans against crypto investments in India.
  
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• Tesla come soon: Nitin Gadkari urges EV maker to make in India asap

  17-04-2021 14:29 via zeenews.india.com
  
  Tesla has started looking for spaces in select cities such as Delhi, Mumbai, and Bengaluru, where it’ll open its showrooms. 
  
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• HDFC Bank quarterly, annual profit rise 18% on loan growth

  17-04-2021 14:07 via timesofindia.indiatimes.com
  
  HDFC Bank on Saturday reported a net profit of Rs 8,176 crore for the quarter ended March 2021 – an increase of 18% over Rs 6,927 crore in the corresponding quarter last year. The profit for the entire year was also up 18% at Rs 31,116 crore compared to Rs 26,257 crore a year earlier.
  
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• You may actually be 'dissaving' by putting money in savings instruments

  17-04-2021 13:55 via zeenews.india.com
  
  As per the latest RBI data, household financial savings had declined sharply to 10.4 percent of the nation’s gross domestic product (GDP) in the July-September period of FY21, down from 21 percent of the GDP in Q1 of FY21. It is estimated to have further declined in the December quarter as consumption intensified and options to save were disincentivised.
  
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• Focussed on helping SMBs embrace e-payments: Amazon

  17-04-2021 13:38 via timesofindia.indiatimes.com
  
  Amazon on Saturday said it has registered 5 million merchants through Amazon Pay - its payments unit - and that it remains focussed on helping more small and medium businesses (SMBs) in the country to embrace digital payments.
  
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• Agency cautions users against weaknesses detected in WhatsApp

  17-04-2021 13:38 via timesofindia.indiatimes.com
  
  Country's cyber security agency has cautioned WhatsApp users about certain vulnerabilities detected in the popular instant messaging app that could lead to breach of sensitive information.
  
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• HDFC Bank posts 16% rise in Q4 net profit at Rs 8,434 crore

  17-04-2021 12:57 via timesofindia.indiatimes.com
  
  HDFC Bank on Saturday reported a 15.8 per cent rise in its consolidated net profit at Rs 8,434 crore for the quarter ended March 2021. The private sector lender had registered a net profit of Rs 7,280 crore in the corresponding quarter a year ago.
  
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• Maruti Suzuki increases car prices by 1.6%, 2nd hike in 2021

  17-04-2021 12:55 via zeenews.india.com
  
  Previously, rival manufacturers such as Toyota Kirloskar Motor and Isuzu India had also increased the prices of their vehicles.
  
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• HDFC Bank Q4 results: Profit jumps 18% YoY, falls short of Street estimates

  17-04-2021 12:09 via zeenews.india.com
  
  HDFC’s subsidiary HDB Financial Services posted a decline in net profit from Rs 341.7 crore in Q4 FY20 to Rs 284.6 crore in this quarter. 
  
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• Good news for SBI customers! Convert your purchase into EMI starting at Rs 52

  17-04-2021 11:55 via zeenews.india.com
  
  The EMI details include for 6 months, a customer needs to be Rs 177.5 per Rs 1,000 purchase, for 12-months tenure, the EMI stands at Rs 93.5. According to the SBI card claims, the customers will be able to convert their purchase into Flexipay within 30 days of the transaction which should be Rs 500 and the minimum booking amount is Rs 2500.
  
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• TCS employee count set to breach half-a-million mark

  17-04-2021 10:48 via timesofindia.indiatimes.com
  
  TCS’s total headcount is set to cross the 5 lakh landmark this year, and given the pace at which its employee numbers are rising, it should become the world’s largest IT services company in terms of employees in a couple of years. Only Accenture is bigger now.
  
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• India-UAE one of the top busiest int'l routes in the world

  17-04-2021 10:48 via timesofindia.indiatimes.com
  
  New Delhi-Dubai and Mumbai-Dubai are currently the third and eight busiest international routes in the world respectively, according to traffic data for the month of April released by UK aviation data company OAG.
  
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• Cyber agency cautions users against certain weaknesses detected in WhatsApp

  17-04-2021 10:48 via timesofindia.indiatimes.com
  
  Country's cyber security agency has cautioned WhatsApp users about certain vulnerabilities detected in the popular instant messaging app that could lead to breach of sensitive information.
  
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• DPIIT notifies PLI scheme for ACs, LED lights; mere assembly of finished goods not to be incentivised

  17-04-2021 09:36 via zeenews.india.com
  
  Enlisting the eligibility criteria to avail the benefits under the PLI scheme, the notification said incentives would be provided to companies making brown-field (existing facility) or green-field (new) investments for the manufacturing. The scheme proposes a financial incentive to boost domestic manufacturing and attract large investments in the white goods manufacturing value chain.
  
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• It’s raining jobs! TCS, Infosys, Wipro, HCL Tech to hire 1 lakh freshers in 2021

  17-04-2021 09:35 via zeenews.india.com
  
  Companies worldwide are investing in new-age technologies to accelerate their digital transformation and become future-ready. 
  
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• National Pension System update! Entry limit age may be increased to 70 years

  17-04-2021 09:02 via zeenews.india.com
  
  The Indian government had launched National Pension System (NPS) in 2009. The scheme offers an investment opportunity to all organised sector employees working in India.
  
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• 7th Pay Commission: Here’s how the central govt employees salary will change from July 1

  17-04-2021 08:53 via zeenews.india.com
  
  The employees’ basic salary will be multiplied by the fitment factor which is 2.57 and that will increase the monthly CTC of government employees except for allowance. The other part of the salary breakup would be the allowances which include Dearness Allowance (DA), Travel Allowance (TA), House Rent Allowance (TA), medical reimbursement, etc. 
  
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• Gold Price Today, 17 April 2021: Gold prices surge to Rs 44,950: Check rates in other cities

  17-04-2021 07:07 via zeenews.india.com
  
  In terms of prices of metro cities, the 22-carat gold price stood at Rs 46,150 in Delhi, while in Mumbai, it was trading at Rs 44,950. In Chennai, the price of 22-carat gold stood at Rs 44,190 per 10 gm. In Bangalore, Hyderabad, and Kerala, gold prices stood at Rs 44,000 and Rs 48,000 for 22-carat and 24-carat. 
  
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• Urban-rural retail inflation gap widens

  17-04-2021 07:04 via timesofindia.indiatimes.com
  
  The retail inflation data for March showed the gap widening between urban and rural inflation, piling pressure on urban households as prices of commodities such as edible oils, meat, fish and eggs soared.
  
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