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  • Money transfer between e-wallets to become a reality
    on October 16, 2018 at 3:27 pm

    The Reserve Bank of India today issued final guidelines to enable interoperability between pre-paid instruments which are also known as mobile wallets. Digital wallet companies, if they so desire, can now use a state-backed payments network that makes peer-to-peer payments instant, to make wallets inter-operable, the RBI said on Tuesday."Interoperability of all KYC-compliant PPIs was to be enabled in three phases - (i) interoperability of PPIs issued in the form of wallets through Unified […]

  • Fintech companies can win over clients by trust, says Nobel laureate professor Robert C Merton
    on October 16, 2018 at 2:58 pm

    "Trust is an important factor of production for Fintech companies to survive and succeed along with technology", said Nobel Laureate Professor Robert C Merton,professor at Sloan School of Management at MIT. Professor also advocates a novel bond scheme called 'Selfies' -standard-of-living indexed, forward-starting, income-only securities- that would go a long way in funding pension plans and infrastructure in countries like India.Citing the importance of trust in an investment decision, android […]

  • Lenovo to raise mobile production capacity in India by up to 10 fold in 2019
    on October 16, 2018 at 2:33 pm

    NEW DELHI: PC and mobile maker Lenovo plans to ramp up its smartphone production capacity up to 1 million units per month in 2019, a top official of the company said Tuesday."We make mobile phones in India at our partners factory. At present we have production capacity of 100,000 per month which we plan to increase in the range of 500,000 to 1 million units per month by the end of 2019," Lenovo Group Vice President Edward Chang told PTI.The capacity expansion does not include volume of Motorola […]

  • Modicare to create 10 lakh jobs: Ayushman Bharat CEO
    on October 16, 2018 at 2:16 pm

    Prime Minister Narendra Modi's ambitious healthcare scheme will create 10 lakh jobs in the health and insurance sector, an official said Tuesday.The scheme is going to improve the quality of healthcare in public services and also in the private sector, Indu Bhushan, the CEO of Pradhan Mantri Jan Arogya Yojana said while addressing an event organised by industry body Assocham here."The scheme will create considerable employment opportunities ... It will create 10 lakh jobs in health and […]

  • DCGI asks company to recall Ozurdex Intravitreal implants
    on October 16, 2018 at 2:13 pm

    The Drug Controller General of India (DCGI) has asked a pharmaceutical company to recall one of its products, Ozurdex Intravitreal Implant, a steroid eye implant for macular edema, after the company admitted that a silicone particle has been detected in it. During a routine manufacturing inspection, a silicone particle, approximately 300 microns in diameter, was observed in dispensed Ozurdex implants, a statement by the Allergan India Private Limited said. The silicone particle has been […]

  • Can RIL protect GRM in Sept qtr earnings? 5 key things to watch
    on October 16, 2018 at 2:09 pm

    66247319 66245359 66181068 NEW DELHI: Oil-to-telecom giant Reliance Industries will announce its quarterly earnings on Wednesday. Analysts and investors will be keenly watching for any drop in gross refining margin (GRM), growth in petchem business and the o utlook for the digital business. Brokerage Sharekhan expects RIL to benefit from a weak rupee and higher petrochemical volumes and margins.RIL’s GRM is expected to remain largely flat sequentially at $10.6 a barrel in Q2FY2019, down […]

  • Is the NBFC party over after the IL&FS crisis?
    on October 16, 2018 at 1:01 pm

    Finance runs on trust, and you don’t need a gentleman called JP Morgan to sermonise on that. Closer home, Kapil Wadhawan of Dewan Housing Finance Corporation (DHFL) can vouch for it — all that matters in business is perception.The bitter truth dawned after DHFL was sucked into wider systematic liquidity pressures just last month, on the back of weak currency and rising oil prices, compounded by bad news originating from IL&FS and money market mutual funds (MFs) battling their […]

  • Modi's top minister explains why oil prices have gone crazy
    on October 16, 2018 at 10:11 am

    Ahead of the US sanctions against Iran, India on Tuesday said availability of crude oil to replace lost volumes is not an issue but the "sentiment" around losing a big oil supplier is driving prices higher.Refusing to say if India has sought a waiver of sanctions from the US as to continue purchasing crude oil from Iran, Oil Minister Dharmendra Pradhan said he has articulated the country's position on importing oil from the Persian Gulf nation in November and "there is nothing new to […]

  • India's interest rates have to rise sharply or Re will crash: Faber
    on October 16, 2018 at 5:17 am

    The financial markets were already very fragile at the beginning of this year and this fragility has increased now, Marc 66219646 66214737 66213071 Faber, editor and publisher, The Gloom, Boom & Doom Report, tells Tavir Gill and Nikunj Dalmia of ET Now. Edited excerpts:What are rising yields across US as well as Europe indicating about the […]

  • A pact that can help Ambani dodge duty bullet
    on October 16, 2018 at 1:46 am

    The government’s recent decision to increase import duty on numerous telecom network products seems to have handed the country’s youngest telco Reliance Jio Infocomm a distinct, if unexpected, advantage over rivals Vodafone Idea and Bharti Airtel, people familiar with the development said.That is because the Mukesh Ambani-controlled telco buys such gear from Samsung. Such telecom equipment imported from Korean suppliers enjoys duty-free status under a free trade pact between India […]

  • Pyramid Infratech told to pass on input tax benefit to homebuyers
    on September 19, 2018 at 6:03 pm

    NEW DELHI: In a significant decision for homeowners, National Anti-profiteering Authority (NAPA) has pulled up real estate developer Pyramid Infratech for not passing on input tax credit benefits to homebuyers, and ordered refund of the amount it profiteered along with 18% interest.“...the commissioner state tax Haryana is directed to monitor this order under the supervision of the Director General Anti Profiteering by ensuring that the amount profiteered by the respondent as ordered by […]

  • Kolkata's Majerhat Bridge collapses, many people are feared trapped after heavy rainfall
    on September 4, 2018 at 11:42 am

    A portion of the arterial Majerhat bridge in south Kolkata collapsed Tuesday evening, snuffing out one life, trapping several people and crushing many vehicles, police said.The 40-year-old bridge in the crowded Alipore area caved in around 4.45 pm during rush hour over rail tracks. It runs over the Majerhat Railway Station and connects the city centre to Behala and other southern suburbs.At least 20-25 injured people have been rescued by fire officials while many more are feared trapped under […]

  • MahaRERA slaps penalty on 8 Mumbai Builders for violation of rules
    on March 13, 2018 at 5:28 pm

    MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has slapped penalty of Rs 2 lakh to Rs 10 lakh on 8 builders in Mumbai for advertising real estate project without mentioning the authority’s website address and advertising a non-registered project. MahaRERA has taken this action on Suo-Motu basis.Of the 8 realty developers, builder Tridhatu Morya has been fined Rs 10 lakh for advertising a non-registered project. Rest of the 7 builders including Sumit Group, The Wadhwa […]

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