Business News Northeast - Latest Business Northeast News & Updates

17 Dec

A delegation of 39 students leaves for IIT Jodhpur as part of the government’s fifth phase

Business BureauBusiness

A delegation of 39 students from varied higher education institutions from West Bengal have left for IIT Jodhpur as a part of the fifth phase of the Govt’s. ambitious cultural and educational endeavour the ‘Ek Bharat Shreshtha Bharat YuvaSangam’ programme. An orientation session and a flag-off event were organized at IIEST Shibpur in the presence of Mr. Kazi Masum Akhtar, an educationist and Padma Shri Awardee. While the nodal institute from West Bengal is IIEST Shibpur, the nodal institute from Rajasthan is IIT Jodhpur. The delegate members will stay in IIT Jodhpur from 14th-18th Dec 2024. Through this visit, the…

17 Dec

TKM opens its first company-owned TUCO facility in Northeast India in Guwahati

Business BureauBusiness

Toyota Kirloskar Motor (TKM) has launched its first Company Owned Toyota Used Car Outlet (TUCO) in Guwahati, marking the third such facility in India. The new 4,000-square-foot showroom can display over 15 certified pre-owned Toyota vehicles and represents the company's strategic expansion into the Northeast region. Each vehicle at the outlet undergoes a rigorous 203-point inspection by Toyota-trained technicians, ensuring high quality and reliability. The facility offers customers a transparent buying experience with features like online vehicle valuation and a comprehensive warranty of up to 30,000 kilometers or two years. Mr. Takashi Takamiya, Vice President of Toyota Kirloskar Motor, highlighted…

17 Dec

Home loan borrowers decrease 39%, disbursements rise 32%

Business CorrespondentBusiness, News

The housing finance market in Gujarat is facing a paradox – fewer people are borrowing, but those who are borrowing are borrowing in larger amounts. According to the latest State Level Bankers Committee (SLBC) report, the number of home loan borrowers saw a sharp decline of 39.6%, from 1.58 lakh accounts in the September quarter of FY24 to just 95,532 accounts in the same period of FY25. Despite the sharp decline in loan accounts, total disbursements grew by 32%, led by a remarkable 118% increase in loan ticket size – from Rs 6.82 lakh to Rs 14.93 lakh per account.…

16 Dec

UPI transactions jump to Rs 223 lakh crore in Jan-Nov

Business CorrespondentBusiness, News

UPI achieved 15,547 crore transactions worth Rs 223 lakh crore this year, transforming India's financial landscape. It is now being accepted in seven countries, furthering financial inclusion and access to digital payments. The Unified Payments Interface (UPI) has achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, 'reflecting its transformational impact on financial transactions' in India, the Finance Ministry said on Saturday. The Finance Ministry also said that UPI is now accepted in seven countries, including France, UAE, Singapore, Sri Lanka, Mauritius, Bhutan and Nepal. The UPI system provides a cheaper and faster alternative…

14 Dec

Gold, silver prices plunge as jewellers sell off

Business CorrespondentBusiness, News

New Delhi: Gold and silver prices fell in the national capital on Friday, with the precious metal sliding below the Rs 80,000 mark amid heavy selling by jewellers and stockists, according to the All India Sarafa Association. Besides, traders said a weak trend in international markets also put heavy pressure on bullion prices. The precious metal of 99.9 per cent purity fell by Rs 1,400 to Rs 79,500 per 10 gram. It had closed at Rs 80,900 per 10 gram in the previous session. Silver fell by Rs 4,200 to Rs 92,800 per kg, its biggest fall in the month…

13 Dec

Vodafone Idea share price gain 5% from intraday low; can it rise further?

Business CorrespondentBusiness, News

Vodafone Idea share price witnessed a sharp surge during intraday trading on Friday, December 13, rising as much as 5 per cent from an intraday low of ₹7.68 despite a volatile market environment. Vodafone Idea share price opened at ₹7.83 against its previous close of ₹7.87 and fell over 2 per cent to hit ₹7.68 levels. However, the telecom stock recovered sharply and touched ₹8.07 levels. Around 1 pm, the stock was trading 2.4 per cent higher at ₹8.06. Vodafone Idea NewsVodafone Idea shares surged after the company revealed details of an investor presentation that highlighted four key strategies for…

13 Dec

SWITCH Mobility launches new electric buses, expands global footprint in sustainable urban transport

Business BureauBusiness

SWITCH Mobility Ltd, subsidiary of Ashok Leyland and part of the Hinduja Group, and a leading manufacturer of electric buses and light commercial vehicles, has unveiled its contemporary electric bus platform SWITCH EiV12—the low-floor electric city bus for the Indian market. It is India’s first low-floor city bus with chassis-mounted batteries, featuring a scalable battery capacity of over 400+ kWh. The vehicle was launched by Shri Nitin Gadkari, Hon’ble Minister for Minister of Road Transport and Highways of India, in the presence of Ashok P. Hinduja, Chairman of Hinduja Group Companies (India), other dignitaries, and industry leaders. Mr. Ashok P.…

12 Dec

Credit card defaults have progress by 110 basis points, the study said

Business CorrespondentBusiness, News

RBI data shows that the number of credit cards issued by banks has also increased sharply to 10.61 crore by September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021.Credit card repayment defaults are on the rise, reflecting growing stress and debt burden among customers. Credit card repayment defaults or portfolio risk (PAR) in banking parlance for credit cards with 91-180 days past due (DPD) have increased by 110 basis points to 7.6 per cent by June 2024 from 6.5 per cent in June 2023, a study said.This means that defaults…

12 Dec

Aviva India’s New Era: A new approach to life insurance for customers, partners and the organization

Business BureauBusiness

Aviva Life Insurance India has transformed the life insurance landscape with a groundbreaking commitment to customer wellness, transparency, and accessibility. Guided by a forward-thinking vision, Aviva has introduced innovative products and initiatives that set a new standard in the industry, aligning with the Insurance Regulatory and Development Authority of India’s (IRDAI) “Insurance for All” mission. At the core of Aviva’s approach is a focus on comprehensive wellness for its customers, anchored in five key pillars: Physical Fitness, Mental Well-being, Proactive Health Checks, Balanced Nutrition, and Financial Security. “As a life insurance provider, we believe that true security is about more…

11 Dec

Cement prices may jump by 4%, which is good news for the sector

Business CorrespondentBusiness, News

According to CLSA, the Indian cement sector may see a price increase of 4% in the second half of FY25 and this will be good news for companies that have been affected by low prices across India for the last several quarters. However, the sustainability of these price increases remains a key monitorable factor, according to the brokerage. Cement prices increased by Rs 10-30 per bag in early December. The increase was the highest in the eastern and central regions of India at Rs 20-30 per bag, while the rest of the regions saw an increase of Rs 10.This means…