Business
SBI to Keep Soft Interest Rate Regime as Long as Possible: Chief Dinesh Khara
State Bank of India (Image: Reuters) SBI Chief Dinesh Kumar Khara said it is too early to give any colour to likely scenario of NPAs because of local restrictions. The impact of lockdown differ from states to states as it is not uniform. PTI Last Updated:May 02, 2021, 11:59...
Govt Slashes IGST on Oxygen Concentrators for Personal Use to 12%
New Delhi: The government on Saturday slashed Integrated GST rate on oxygen concentrators for personal use to 12 per cent, from 28 per cent earlier, for two months till June 30. “IGST on Import of Oxygen Concentrators for personal use has been reduced from 28 per cent to 12...
Allocation of Remdesivir for States Increased Significantly: Gowda
New Delhi: Allocation of antiviral drug remdesivir, which is used in the treatment of COVID-19, has been increased significantly to states to ensure uninterrupted supply to patients, Union minister Sadananda Gowda said on Saturday. Thechemicals and fertilizers minister also said that medical oxygen allotment for Karnataka has also been...
Atul Jerath Steps Down from ITC Board
Conglomerate ITC Ltd on Saturday said Atul Jerath has stepped down from its board of directors following his retirement from The Oriental Insurance Company. This would be effective from Saturday, the Kolkata-headquartered company said in a regulatory filing. “Mr Atul Jerath has stepped down from the Board of Directors...
GST Revenue Collections Hit Record High of Rs 1.41 Lakh Crore in April
GST revenues have crossed the Rs 1 lakh crore mark successively for the last seven months GST revenues for April 2021 are 14% higher than Rs 1.23 lakh crore collected in March, the ministry said. PTI Last Updated:May 01, 2021, 15:52 IST FOLLOW US ON: GST collections in April...
Govt Extends Income Tax Compliance Deadlines Amid Covid-19 Surge. Know Details
In the wake of severe Covid-19 pandemic in the country, the Central Board of Direct Taxes (CBDT) has decided to extend timelines of various tax compliance on Saturday. “In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests...
SBI Reduces Home Loan Interest Rates. Check the Latest Rates
State Bank of India (SBI) on Saturday announced that it has slashed its home loan interest rates. Now, customers can get home loans at an interest rate starting from 6.7% per annum for loans up to Rs 30 lakh. For loans above Rs 30 lakh to Rs 75 lakh,...
EU Aims to Cut Foreign Reliance on Chips, Pharma Materials: Report
BRUSSELS: The European Union aims to cut its dependency on Chinese and other foreign suppliers in six strategic areas including raw materials, pharmaceutical ingredients and semiconductors, under an industrial action plan to be announced next week. A draft seen by Reuters outlined the urgency of the task ahead, citing...
SBI Will Not Freeze Accounts if KYC Not Updated; Customers Need Not Visit Bank
SBI said that customers will not be required to personally visit the branch for the purpose of KYC updation SBI will not partially freeze the accounts if the KYC details are not being updated till May 31, the bank said. In a bid to provide relief to thousands of...
Banks Shut Today, Check List of Holidays In May 2021
Banks in India will remain shut for up to 12 days in May 2021, which includes weekends and festivals, due to various occasions. According to the Reserve Bank of India (RBI) guidelines, all banks including the public sector, private sector, foreign banks, cooperative banks and regional banks across the...
Net Profit Doubles to Rs 13,227 Crore
Reliance Industries on Friday reported a 108.4% year-on-year increase in consolidated net profit to Rs 13,227 crore for the quarter ended in March. The oil-to-telecom conglomerate posted a net profit of Rs 6,348 crore during the same period last year. Revenue from the operations rose 11% year-on-year to Rs...
Reliance Industries Generates 75,000 Jobs in Covid-19 Pandemic Year
Reliance Industries on Friday said that it has generated 75,000 new jobs during the pandemic-hit year. The company posted a net profit of Rs 13,227 Rs crore for the quarter ended March 31, 2021, a whopping 108% yearly increase. “And while COVID-19 has disrupted livelihoods, we have added nearly...
Reliance Jio Net Profit Jumps 47.5% to Rs 3,508 Crore in Q4; Adds 3.1 Crore Customers
Reliance Jio Platforms reported a 47.5% year-on-year increase in net profit to Rs 3,508 crore for the Q4FY21. The subsidiary of Reliance Industries, posted a net profit of Rs 2,379 crore in the same period last year. The revenue from operations grew 19% year-on-year to Rs 18,278 crore for...
Rahul Bajaj Steps Down as the Chairman of Bajaj Auto, Niraj Bajaj to Take Over
Rahul Bajaj, one of the most successful business leaders in the country, has finally decided to hang his boots at Bajaj Auto, the company he nurtured and steered to one of the leading firms in two and three-wheeler space. The non-executive chairman of the Pune-based two and three-wheeler maker...
Net Loss Widens to Rs 3,788 Crore; NII Declines 23%
YES Bank on Friday reported a net loss of Rs 3,787.75 crore for the quarter ended in March. The private lender posted a net loss of Rs 3,668.33 crore for the corresponding quarter last year. YES Bank’s net interest income, the difference between interest earned and interest, declined 23% to...
TCS Announces Samir Seksaria Will Take Over as New CFO
Tata Consultancy Services (TCS) on Friday announced that Samir Seksaria will take over as the its chief financial officer, effective from May 1, 2021. “The Board of Directors, at its meeting held on April 12, 2021, had appointed Samir Seksaria as chief financial officer,” India’s largest Information Technology services...
Sensex Plunges 984 pts, Ends Below 49,000; Financial Stocks Lead Sell-off
Snapping its four-session winning run, market benchmark Sensex plummeted 984 points on Friday, tracking an intense selloff in financial stocks amid a negative trend in Asian equities. The 30-share BSE index sank 983.58 points or 1.98 per cent to finish at 48,782.36. Similarly, the broader NSE Nifty tanked 263.80...
AstraZeneca Makes $275 Million in Sales from Covid-19 Vaccine
British pharmaceuticals giant AstraZeneca reported on Friday $275 million (227 million euros) in sales from its Covid vaccine in the first three months of the year. It is the first time that the company discloses figures from sales of one of the world’s leading vaccines. AstraZeneca’s Covid-19 jab was...
