New Delhi [India], Apr.7 : Surging ahead in its endeavor towards creating sustainable ecosystem, India's largest multinational flexible packaging materials and solution company Uflex Limited has extended its existing partnership with Fiinovation (a global CSR consulting company) for natural resource conservation and optimization initiatives in Bhind District of Madhya Pradesh.
New Delhi [India], Apr 6 : The Reserve Bank of India (RBI) on Thursday kept its repo rate unchanged at 6.25 percent, but made changes in the reverse repo rate at 6 percent after all the six members of the monetary policy committee (MPC), headed by Reserve Bank of India Governor Urjit Patel, voted in favour of the decision.
"For 2017-18, inflation is projected to average 4.5 percent in the first half of the year and 5 percent in the second half," said Reserve Bank of India (RBI) Governor Urjit Patel.
He said that the MPC believes that the inflation developments have to be closely and continuously monitored, with food price pressures kept in check so that inflation expectations can be re-anchored.
Patel further added that there is scope for transmission of rates.
New Delhi [India], Apr 6 : India's largest online marketplace Snapdeal on Thursday announced a partnership with University of California, Berkeley for the Andhra Pradesh government's Smart Village Project.
With the objective of discovering economical and infrastructural barriers faced by artisans in these villages, UC Berkeley and Snapdeal are aiming to create viable solutions through digitization and new-age services.
Under the partnership, Snapdeal will provide local handloom weavers, direct market access to buyers across the country, through its platform.
Products crafted by these artisans and associations will be curated and listed on a special page on Snapdeal. The company has currently on-boarded the handloom association of Meri Podu village as a seller.
New Delhi [India], Apr 6 : Google India has announced the launch of Google Play Music subscription in India, offering music lovers a fresh take on streaming that is smarter, easier and uses little data.
Google Play Music is available across Android, iOS and the web in India. Sign up now and get a free trial on Android, iOS or the web.
As an introductory offer, it is available for a discounted subscription offer of Rs. 89 per month if you sign up within the first 45 days.
New Delhi [India], Apr.6 : Reserve Bank of India (RBI) Governor Urjit Patel, along with the Monetary Policy Committee (MPC), will announce their first bi-monthly monetary policy of the current financial year today.
In its last policy review of the previous fiscal in February, the RBI kept its key policy rate or the repo rate unchanged at 6.25 percent for the second time in a row with marginal standing facility rate, reverse repo rate and the bank rate unchanged.
In October, Urjit Patel's first policy review as the RBI Governor, which was also the maiden review of the MPC, the repo rate was reduced by 0.25 percent to 6.25 percent.
Since then, the repo rate has been retained at 6.25 percent. However, since January 2015 the RBI has cut repo by 1.75 percent.
Mumbai (Maharashtra) [India], Apr. 6 : Madhabi Puri Buch took charge as Whole Time Member of Securities and Exchange Board of India ( SEBI) in Mumbai on Wednesday for a tenure of three years or until further orders.
Buch will handle the Market Regulation Department, Market Intermediaries Regulation and Supervision Department, Integrated Surveillance Department, Department of Economic and Policy Analysis, Office of Investor Assistance and Education, National Institute of Securities Markets and Information Technology Department.
Prior to joining, Buch served as the Consultant to the New Development Bank in Shanghai and as the Head of the Singapore office of the Private Equity Firm, Greater Pacific Capital.
New Delhi [India], Apr 5 : PayU India on Wednesday announced the launch of a first-of-its kind premium deferral payment facility for consumers 'LazyPay' aimed at those who transact digitally for any amount between Rs. 500 and 2500, and is an option to pay later.
The aim of the product is to drive faster purchase experiences and convenience by reducing friction on online checkouts and achieving a zero drop situation for online payments.
It is a convenience product for anyone to pay later and the facility could extend for amounts from Rs. 3,000 and even up to Rs. 10,000, depending upon customer behaviour.
New Delhi [India], Apr 5 : Largest hotel network OYO on Wednesday announced its partnership with Ola Money, the digital payment solution from Ola, India's most popular mobile app for transportation.
Under the partnership, OYO customers will be enabled to make one-touch payments for their hotel rooms through Ola Money wallet for both web and app bookings.
New Delhi [India], Apr. 5 : The much-awaited Goods and Services Tax (GST) Bill will be presented for discussion in Rajya Sabha on Wednesday.
The Lok Sabha earlier on March 29 passed four key GST Bills, rejecting amendments moved by the opposition. The Bills are related to Central GST, Integrated GST, UT GST and GST Compensation.
The Central GST deals with taxation related to Centre, integrated GST deals in taxation of inter-state movement of goods and services while the Union Territory GST Bill covers taxation in Union Territories.
The compensation law has been prepared to give a legislative backing to the Centre's promise to compensate the states for five years for any revenue loss arising out of GST implementation.
New Delhi [India], Apr 4 : Whirlpool has announced the launch of its most innovative range of Air Conditioners in the Indian market with a lineup of ACs includes Whirlpool 3D cool Inverter range and Fantasia Inverter, which are at par with the 2018 Bureau of Energy Efficiency (BEE) norms.
The leading home appliance company, Whirlpool has also launched its new Magicool AC 5 star range to make energy efficient products available to consumer at entry price points. Whirlpool's 3D Cool range has been designed keeping in mind the extreme humid conditions in India and the capability to perform during temperature of 52-55 degrees C.
New Delhi [India], Apr. 4 : Accenture acquired UK-based Genfour, a pure play automation service provider with deep domain expertise and industry experience in assessing, implementing and managing automation solutions. The acquisition strengthens Accenture's capabilities as a leading provider of intelligent automation services. Terms of the transaction were not disclosed.
The addition of Genfour expands Accenture's ability to apply intelligent automation solutions that help clients transform and re-engineer their business processes. Clients can take advantage of data-driven insights that enable faster, more informed business decisions and better quality of service to their customers.
New Delhi [India], Apr. 4 : JobsForHer (JFH), a connecting portal that enables women on a professional break to restart their careers, announced its Returnee Drive with some large women-friendly organisations.
These organisations, namely Sapient, Intuit and PayPal, extended support to help progress the gender agenda by making a strong commitment to increasing female participation in the workforce.
As business leaders, they recognise the industry's need to have a balanced workforce and enable career advancement for women. They know that gender-balanced companies with more engaged workforces achieve greater economic results.
New Delhi [India], Apr 4 : India's leading innovative solar solutions provider and one of the largest solar power EPC and Development companies RaysExperts on Tuesday announced that it has commissioned a 5.5 MV solar project for Delhi Metro Rail Corporation (DMRC).
This will be one of the largest distributed rooftop solar plants setup across India.
RaysExperts' solar installation will supply power to multiple metro stations, cleaning bays, parking yards and other metro rail supporting facilities. The project has the capacity to produce 87 million units of power every year.
Increase in IPP cap on production beyond reassessed capacity is a credit positive for urea manufacturers, says ICRASubmitted by Ashok Rawat on Tue, 04/04/2017 - 17:33
New Delhi [India], Apr 4 : Credit rating agency ICRA on Tuesday said that the Cabinet Committee on Economic Affairs (CCEA) has approved certain amendments related to increasing the IPP-linked cap on urea production beyond re-assessed capacity (RAC) in the New Urea Policy-2015 (NUP-2015) in a meeting held on March 31, 2017.
Further, to address any future fluctuations in the import parity price (IPP) that would have an adverse impact on the production beyond the RAC by urea units, the Department of Fertilizers (DoF) has been authorised to take an appropriate decision in consultation with Department of Expenditure.
New Delhi [India], Apr.4 : Cyient, a global leader in communications engineering and service management assurance services and solutions, today announced a collaboration with Amdocs to implement GE's Geographical Information System (GIS), Smallworld, as part of the Next-Generation Business/Operations Support System (NGBOSS) project for NetLink Trust.
The NGBOSS project aims to improve the user experience for NetLink Trust's customers with faster deployment of new fiber networks while reducing fault repair and outage times, as well as delivering improved service quality.
New Delhi [India], Apr 4 : Central Board of Direct Taxes on Tuesday said that the provisional figures for revenue collections up to March, 2017 showed a gross Direct Tax collection of Rs. 10.09 lakh crore.
As per a notification by the company, the net collection after issue of refunds stands at Rs. 8.47 lakh crore which is 14.2 percent higher than the net collection for the corresponding period last year.
With this the CBDT has accomplished 100 percent of the direct tax target for Financial Year 2016-17.
Refunds amounting to Rs. 1.62 lakh crore have been issued during April 2016-March 2017, which is 32.6 percent higher than the refunds issued during the same period for FY 2015-16. This has substantially reduced the grievances of tax payers.
New Delhi [India], Apr.4 : Union Revenue Secretary Hasmukh Adhia on Tuesday revealed that the provisional tax collection for fiscal 2016-17 shows net growth of 18 percent.
Addressing media in the national capital, Adhia said that the government would shortly be issuing a detailed report on provisional tax collection.
In a tweet, he said, "Provisional tax collection figures for 16-17 released. Total net tax revenue grows at 18% to 17.10 lac cr, highest in last 6 years. Direct tax growth rate is 14.2% and indirect tax growth rate is 22%."
He said that direct tax collections upto March 2017 stood at Rs. 8.457 lakh crore, while indirect tax collections (Central Excise, Service Tax and Customs) for fiscal 2016-17 stood at Rs.8.63 lakh crore
New Delhi [India], Apr 3 : Indian mobile wallet major MobiKwik on Monday announced its association with Google Play for the customers to easily pay for their favorite apps and games in just one click.
The association will give access to a wide range of games, movies, fun and other entertainment apps and purchase them anytime without going to various authorized retailers.
"By associating with Google Play we want our customers to enjoy their cherished movies, read books, enjoy games and more without any problem. The users don't have to compromise with their wishes of purchasing any app on Google Play due to shortage of funds. MobiKwik takes every initiative to make our customers content and happy with our services," said Chief Business Officer at MobiKwik, Vineet K. Singh.
New Delhi [India], Apr 3 : Taxi aggregator Ola on Monday announced its effort to promote digital economy across the country as it integrated with Unified Payment Interface (UPI) to further simplify digital payment options for millions of customers.
The integration will allow Ola customers to use their unique UPI IDs to pay for all their rides on the Ola platform. UPI integration will lead to one of the fastest mode of payment for millions of Ola users.
As the country has made significant stride towards cashless economy, UPI itself has seen great acceptance, with the value of transaction through the interface reaching to more than 1300 crore, according to recent RBI report.
For a nation that is looking to migrate completely onto a digital medium,
New Delhi [India], Apr 3 : World leader in digital security Gemalto released the findings of the Breach Level Index revealing that 33 reported data breaches led to almost 36.6 million data records being compromised in India during 2016, an increase of 14 percent compared to 2015.
Identity theft and unauthorized access to financial data were the leading type of data breaches in 2016, accounting for 73 percent of all data breaches. In addition, 61 percent of the data breaches in 2016 did not disclose the number of compromised records at the time they were reported in India.