Business News

Mumbai, 19 Feb 2017/--/Majority of consumers in the country are ready to move away from cash and adopt mobile payments for their purchases, says a report. Consumers also believe that relying on mobile payments could be a time-saver, according to the 'Visa Mobile Payments Readiness Survey'. "When...

NEW DELHI, 19 Feb 2017/--/As a strategy to grow its business, Bandhan Bank will continue to disburse a large chunk of loans as microcredit for some more time, founder and chief executive Chandra Shekhar Ghosh has said. Turning from a microcredit institution to a universal bank within one-and-half-...

Mumbai, 19 Feb 2017/--/The number of units under Internet of Things (IoT) is expected to grow exponentially to 1.9 billion units in India by 2020 or about USD 9 billion, says a report. A rapidly growing hub for IoT solutions, the country's IoT market size in this area is expected to increase about...

Mumbai, 19 Feb 2017/--/The country's steel production and consumption is likely to remain higher in 2017-18 from 89.79 MT of crude steel during 2015-16 backed by an increase in infrastructure allocation in the Budget, a report said. In 2017-18, steel production is expected to remain higher. This...

Mumbai, 19 Feb 2017/--/Markets regulator Sebi has decided to empanel 'resource persons' to help spread financial literacy in select districts. The Securities and Exchange Board of India (Sebi) will empanel financial education resource persons (RPs) on part-time basis for various districts in Uttar...

NEW DELHI, 19 Feb 2017/--/Retirement fund body EPFO is expected to launch online facility for settlement of claims, including EPF withdrawal and pension fixation, by May this year to put an end to tedious paper work by its members. At present, the Employees' Provident Fund Organisation (EPFO)...

Mumbai, 19 Feb 2017/--/Tech Mahindra sees the proposed merger of Vodafone and Idea as a "seismic" event that will impact the IT sector, but asserted that it will benefit from such a deal. The software firm derives over half of its revenue from servicing communication companies. "It is a big...

NEW DELHI, 19 Feb 2017/--/India's gold imports fell by about 32.7 per cent to USD 19.74 billion during the April-January period of this fiscal, which is expected to keep a lid on the current account deficit. Total imports of the precious metal in the corresponding period of 2015-16 stood at USD 29...

KOLKATA/MUMBAI, 16 Feb 2017/--/Tata Motors and Microsoft India today announced a strategic agreement to redefine connected and personalized driving experiences for Indian customers. Tata Motors will leverage Microsoft’s connected vehicle technologies that bring together artificial intelligence (AI...

KOLKATA/MUMBAI, 16 Feb 2017/--/HDFC life, private life insurance company, launched HDFC Life Pragati, with the potential to take life insurance within the reach of every single household and financially secure every single individual in the country. HDFC Life Pragati is a traditional life insurance...

KOLKATA/DELHI, 16 Feb 2017/--/Bandhan Bank Ltd, India's fastest growing bank, is proud to announce that its customer base has crossed 10 million within just 18 months of starting its operations. The bank today opened a new branch in Vasant Kunj, New Delhi. With 805 branches the branch network of...

Kolkata, 16 Feb 2017/--/Mahindra & Mahindra Ltd, a part of the US USD 17.8 billion Mahindra Group, today introduced seven new products simultaneously under its Supro platform. The company launched four new variants of its stylish and spacious Passenger carrier, namely Supro Minivan, Supro...

KOLKATA/MUMBAI, 16 Feb 2017/--/Multi Commodity Exchange of India Limited (MCX) and Singapore Diamond Investment Exchange (SDiX) have signed a Memorandum of Understanding (MoU) for establishing areas of cooperation between the two exchanges. The MoU was signed at a ceremony in Mumbai today by...

Kolkata, 16 Feb 2017/--/To improve passenger comfort and safety, Eastern Railway introduced modern type of LHB rakes to 12315/16 Kolkata-Udaipur Ananya Express and 12317/18 Kolkata-Amritsar Akal Takht Express replacing conventional type of rakes. Introduction of modern type of LHB rake will also...

NEW DELHI, 16 Feb 2017/--/The works relating to promotion of digital transactions will be looked after by Ministry of Electronics and Information Technology (Meity), as per the new rules. President Pranab Mukherjee has given nod to change government of India, Allocation of Business Rules, 1961, to...

Ranchi, 16 Feb 2017/--/Free from 'stigma of corruption' and political instability, BJP-led Jharkhand can now exceed the national economic growth average by 4-5 per cent, Union Finance Minister Arun Jaitley said on Thursday. "Jharkhand has a potential today with its natural resources, and potential...

Ranchi, 16 Feb 2017/--/Prime Minister Narendra Modi on Thursday exuded confidence that the 'Momentum Jharkhand Global Investors' Summit 2017' will create several opportunities for the people of the east Indian state and "give wings to their aspirations". "Best wishes for @InvestJharkhand. May the...

Ranchi, 16 Feb 2017/--/Terming Jharkhand as a land of immense potential, Chief Minister Raghubar Das Thursday said the state is rich in natural resources like coal and minerals and striving to become a developed state in the country. "Jharkhand as a young state of India is striving to become one...

Ranchi, 16 Feb 2017/--/Recalling his initial days in Jamshedpur, Tata Group patriarch Ratan Tata on Thursday said the east Indian state of Jharkhand has great potential and called upon domestic and global corporates to seize the immense investment opportunity. "Under the Prime Minister and his...

Ranchi, 16 Feb 2017/--/Harnessing of its natural resources through industrial development will make Jharkhand a rich state with rich population, Union Minister Nitin Gadkari said on Thursday. He also said that over the next couple of years the state will see investments of Rs 55,000 crore in the...

Mumbai, 16 Feb 2017/--/Spurred by demonetisation, online payments platform Paytm clocked Rs 5,000 crore worth of transactions in the month of January, Paytm's founder Vijay Shekhar Sharma said here on Wednesday. "We clocked Rs 5,000 crore worth of transactions in January alone, that's 200 million...

Mumbai, 16 Feb 2017/--/The National Commodity and Derivatives Exchange Ltd (NCDEX) Thursday said it has retained market leadership in castor seed contract with 99.96 per cent market share as on date. After the relaunch of the contract, the exchange received encouraging response from the market...

Kolkata, 16 Feb 2017/--/Since 2011, power sector has witnessed incredible growth. For example in 2011 the number of consumers of WBSEDCL was 85 lakh but at present the number has sky rocketted to 170 lakh. This was today revealed in a press statement by minister for power Shovondev Chattopadhyay...

KOLKATA/MUMBAI, 14 Feb 2017/--/Hemant Bhargava has taken charge as Managing Director of Life Insurance Corporation of India on February 10. He was the Head of Northern Zone comprising Delhi, Punjab, Rajasthan, Himachal Pradesh, Jammu & Kashmir, Haryana States and Union Territory of Chandigarh...

Kolkata, 14 Feb 2017/--/Spencer's, retail business wing of the RP-Sanjiv Goenka Group, today announced the launch of its new range of apparels for men and women. Branded as 2Bme, the apparel range was unveiled today by the sector head-retail of the group, Shashwat Goenka at the Quest Mall....