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#ACKOCatchTheLogo contest starts tomorrow
short by Roshan Gupta / on 19 Sep 2020,Saturday
ACKO Insurance has partnered with Delhi Capitals for IPL 2020 to bring a first of its kind contest -#ACKOCatchTheLogo! You have to spot the different places where the ACKO logos are visible in the stadium and visit its website to submit your answers. Winners stand a chance to meet the stars of Delhi Capitals and win team goodies, ACKO said.
short by Roshan Gupta / 07:34 am on 19 Sep
India's 1st CRISPR COVID-19 test 'FELUDA' approved for use
short by Nandini Sinha / on 19 Sep 2020,Saturday
The Drug Controller General of India (DCGI) has granted approval for the commercial launch of India's first CRISPR COVID-19 test 'FELUDA'. The test has been developed by the Tata Group and CSIR-IGIB (Institute of Genomics and Integrative Biology). It is the world's first diagnostic test to deploy a specially adapted Cas9 protein to successfully detect the virus causing COVID-19.
short by Nandini Sinha / 09:53 pm on 19 Sep
App will be back on Play Store soon, your money is safe: Paytm
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
After Paytm's main app was taken down from Google Play Store, the payments company said the app will be back "very soon". "All your money is completely safe," Paytm said, adding that the users can continue to use the app normally. Paytm did not explain why the app was removed from the Play Store.
short by Krishna Veera Vanamali / 03:15 pm on 18 Sep
PM wasn't fully convinced of the idea to release ₹2,000 notes: Ex-aide
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
Nripendra Misra, who was the Principal Secretary to the Prime Minister during demonetisation, has revealed that PM Narendra Modi wasn't fully convinced of the idea to release new ₹2,000 notes but "went along with the consensus". "(PM) accepted the suggestion of those who felt that speedy printing of the high denomination note would increase the availability of cash," Misra added.
short by Krishna Veera Vanamali / 11:21 am on 18 Sep
J&K LG announces ₹1,350 cr economic relief & revival package for UT
short by Sakshita Khosla / on 19 Sep 2020,Saturday
J&K Lieutenant Governor Manoj Sinha on Saturday announced an economic relief package of ₹1,350 crore for revival of businesses in the Union Territory. Sinha said that 50% discount will be given on water and electricity bills for a year for industrial and commercial consumers. He said 5% interest subvention will be given to borrowers from business community for six months.
short by Sakshita Khosla / 05:28 pm on 19 Sep
SBI makes OTP must for withdrawals above ₹10,000 at its ATMs 24x7
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
State Bank of India (SBI) has extended its OTP-based cash withdrawal for ₹10,000 and above throughout the day across all SBI ATMs from today. India's largest lender had initially introduced OTP-based cash withdrawals of above ₹10,000 between 8 pm and 8 am from January 1. Customers have been requested to carry their mobile phones while transacting at SBI ATMs.
short by Krishna Veera Vanamali / 10:42 am on 18 Sep
UN food chief David Beasley on Thursday called on the world's billionaires to help save around 3 crore people he said are at risk of dying if they don't receive help from the World Food Programme. "We need $4.9 billion to feed, for one year," Beasley said. Around 27 crore people are headed towards the brink of starvation, he added.
short by Nandini Sinha / 04:04 pm on 18 Sep
53% of BSNL's mobile network equipment from 2 Chinese firms: Govt
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
The Communications Ministry has informed the Rajya Sabha that 44.4% of state-run BSNL's mobile network equipment comes from ZTE and another 9% from Huawei. Reliance Jio does not use equipment from these two Chinese vendors in its network, the ministry added. Telecom operators have been asked to carry out a special security audit of their network by an external agency.
short by Krishna Veera Vanamali / 01:00 pm on 18 Sep
World's biggest furniture brand IKEA to set up global office in B'luru
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
The world's biggest furniture brand IKEA said it will open a new global office in Bengaluru that will focus on global business operations, digital technologies and innovation. IKEA currently has such facilities in Poznan (Poland), Shanghai (China) and Baltimore (US). India's large talent pool is one of the key reasons behind selecting the location, the Swedish furniture giant said.
short by Krishna Veera Vanamali / 09:48 am on 18 Sep
What are the projections by various agencies for India's FY21 growth?
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
Goldman Sachs has estimated a 14.8% contraction in India's gross domestic product (GDP) for the current fiscal year. Meanwhile, rating agencies Moody's and Fitch see the Indian economy contracting 11.5% and 10.5% in 2020-21, respectively. India's economy contracted by 23.9% in the April-June quarter, the biggest decline since quarterly records began in 1996.
short by Krishna Veera Vanamali / 03:04 pm on 18 Sep
Harsh Vardhan Lodha removed from ₹25,000-cr MP Birla Group by HC
short by Krishna Veera Vanamali / on 19 Sep 2020,Saturday
The Calcutta High Court has restrained Harsh Vardhan Lodha from holding any post in the ₹25,000-crore MP Birla Group's companies. The Birla family and Lodhas have been engaged in a 16-year-old legal battle over the validity of MP Birla's late wife Priyamvada Birla's will. She gave control of the group to her accountant and Harsh Vardhan Lodha's father RS Lodha.
short by Krishna Veera Vanamali / 02:20 pm on 19 Sep
The Shapoorji Pallonji (SP) Group has sent a notice to the board of Tata Sons challenging its move to block the group from pledging its shares to raise funds. The board has three days to respond, failing which the Mistry family will seek damages for the harm inflicted, a spokesperson said. The SP Group holds 18.4% stake in Tata Sons.
short by Kiran Khatri / 09:45 pm on 17 Sep
SC refuses to resume bankruptcy case against Anil Ambani
short by Krishna Veera Vanamali / on 18 Sep 2020,Friday
The Supreme Court on Friday rejected SBI's petition to allow a personal bankruptcy case against Anil Ambani to resume in connection with a ₹1,200-crore personal guarantee that he had given to the bank for loans to his companies. It directed the Delhi High Court to decide on Ambani's challenge to certain provisions of the Insolvency and Bankruptcy Code.
short by Krishna Veera Vanamali / 10:04 am on 18 Sep
7-hour 'flight to nowhere' sells out in 10 minutes in Australia
short by Krishna Veera Vanamali / on 19 Sep 2020,Saturday
Australian carrier Qantas has said that its scenic 7-hour 'flight to nowhere' scheduled for October 10 sold out within 10 minutes. Qantas will use a Boeing 787 plane for the flight from Sydney that will fly at low levels over landmarks including Uluru, the Great Barrier Reef and Sydney Harbour before landing back in Sydney. Tickets cost between ₹42,200-₹2,03,000.
short by Krishna Veera Vanamali / 09:53 am on 19 Sep
Govt debt crosses ₹100 lakh crore for the first time
short by Krishna Veera Vanamali / on 19 Sep 2020,Saturday
The outstanding debt of the central government crossed ₹100 lakh crore for the first time at the end of June. A quarterly report by the Department of Economic Affairs showed that total liabilities increased to ₹101.3 lakh crore from ₹94.6 lakh crore as of end-March. Public debt, which doesn't include public account liabilities, accounted for 91.1% of total outstanding liabilities.
short by Krishna Veera Vanamali / 11:48 am on 19 Sep
China hit a wall on demographics, India not facing that: Ex-WH adviser
short by Krishna Veera Vanamali / on 19 Sep 2020,Saturday
Ex-White House economic adviser Todd Buchholz said that a large population and continuing reforms will help India overcome the economic downturn. "Unlike China which has hit a giant brick wall on demographics, India is not facing that," he said. "Those investors who were lining up to invest in India in January 2020 will do so in 2021 also," Buchholz added.
short by Krishna Veera Vanamali / 12:51 pm on 19 Sep
New Zealand enters recession after GDP contracts 12% in Q2
short by Shailesh / on 17 Sep 2020,Thursday
New Zealand has entered a recession after its GDP contracted by 12.2% in the second quarter, the highest decline on record, due to a coronavirus lockdown, according to the official data. It is the country's first recession since 2010. However, economists estimate the country's economy to recover in the third quarter as the coronavirus outbreak is brought under control.
short by Shailesh / 05:51 pm on 17 Sep
ED attaches 3 Delhi hotels worth ₹100 cr in PMC Bank fraud case
short by Kiran Khatri / on 18 Sep 2020,Friday
The ED has attached three hotels of the FabHotels group, worth around ₹100 crore, in Delhi in the PMC Bank fraud case. The three hotels are owned by Libra Realtors, Dewan Realtors, Rakesh Wadhawan and others. It was found that Libra Realtors and Dewan Realtors fraudulently obtained ₹247 crore from PMC Bank in the guise of loans, the agency said.
short by Kiran Khatri / 09:10 pm on 18 Sep
Govt to ask foreign firms to source more local materials for projects
short by Kiran Khatri / on 19 Sep 2020,Saturday
India has said that it will demand foreign firms working on government-run projects to use more locally produced materials. Firms in countries which don't allow Indian companies to participate in government projects can't tender bids for Indian government projects, an order said. All administrative divisions have been asked to notify the commerce ministry of projects valued above ₹1,000 crore.
short by Kiran Khatri / 08:49 pm on 19 Sep
India's fuel demand to contract 11.5% in 2020: Fitch Solutions
short by Kiran Khatri / on 19 Sep 2020,Saturday
Fitch Solutions has revised its forecast for fuel demand in India to a 11.5% contraction in 2020, from a 9.4% contraction earlier. It said that both consumer and industrial fuels are set for the "steep decline". The agency has also estimated that India's GDP will contract by 8.6% in 2020-21, from its earlier forecast of a 4.5% contraction.
short by Kiran Khatri / 08:23 pm on 19 Sep
Tamil Nadu seeks 10,000 seats under India BPO Promotion Scheme
short by Kiran Khatri / on 18 Sep 2020,Friday
Tamil Nadu CM Edappadi K Palaniswami has urged IT Minister Ravi Shankar Prasad to allot 10,000 seats under the India BPO Promotion Scheme to the state. Tamil Nadu has provided 7,705 seats in Software Technology Parks of India, Chennai jurisdiction to the BPO industry, he said. The success rate in terms of commencement of operations is over 93%, he added.
short by Kiran Khatri / 10:25 pm on 18 Sep
Angel Broking to open ₹600-crore IPO on September 22
short by Kiran Khatri / on 18 Sep 2020,Friday
Domestic brokerage house Angel Broking has said that it will open its ₹600 crore initial public offering (IPO) on September 22. The company has fixed a price band of ₹305-306 per share for the IPO that will conclude on September 24. The offer comprises a fresh issue of ₹300 crore and an offer for sale aggregating to ₹300 crore.
short by Kiran Khatri / 05:22 pm on 18 Sep
Privatisation of trains win-win for Railways, investors: NITI Aayog CEO
short by Kiran Khatri / on 17 Sep 2020,Thursday
NITI Aayog CEO Amitabh Kant has said that the privatisation of trains will create a "win-win situation" for the Railways and investors by tapping into the potential of "unmet demand in passenger business". The government's plan to offer private players to operate 109 pairs of routes through 151 modern trains is the "first-of-its-kind initiative" in India, he added.
short by Kiran Khatri / 07:11 pm on 17 Sep
Rajya Sabha passes amendment in Insolvency and Bankruptcy Code
short by Kiran Khatri / on 19 Sep 2020,Saturday
Rajya Sabha has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 by voice vote. The bill seeks to suspend initiation of fresh insolvency proceedings against companies for at least six months to one year, starting from March 25, amid COVID-19 pandemic. Finance Minister Nirmala Sitharaman said IBC's intention is to keep companies a "going concern", not liquidating them.
short by Kiran Khatri / 10:25 pm on 19 Sep
US law firm files class action suit against HDFC Bank
short by Kiran Khatri / on 18 Sep 2020,Friday
US-based Rosen Law Firm has filed a class action lawsuit against HDFC Bank alleging that its investors suffered losses because they were misled. HDFC Bank's outgoing MD Aditya Puri, CEO-designate Sashidhar Jagdishan and Company Secretary Santosh Haldankar were named in the suit. It was filed on behalf of people who purchased HDFC Bank securities from July 31, 2019-July 10, 2020.
short by Kiran Khatri / 05:02 pm on 18 Sep
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