Business

28 Sep

SBI Life Insurance signed a bancassurance pact with State Bank of Sikkim

Business Bureau0 CommentsBusiness

SBI Life Insurance, a trusted private life insurer in India, has signed a bancassurance pact with the State Bank of Sikkim (SBS) at the bank’s headquarters in Gangtok, Sikkim, to make comprehensive insurance solutions accessible to residents of Sikkim. Ensuring greater reach and penetration, the partnership will see an extensive distribution network of the State Bank of Sikkim spread across the state and offer SBI Life’s diverse range of protection, wealth creation, and savings insurance products to its customers. This partnership will empower customers to address their complete financial needs under one roof, making insurance products more accessible and affordable.…

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28 Sep

UTI Mutual Fund will establish a new financial center in Nagaon

Business Bureau0 CommentsBusiness

UTI Asset Management Company, one of India's largest asset managers, is expanding its distribution reach with the launching of 29 new Financial Centers across 29 cities in a single day. UTI Mutual Fund has announced the opening of a new UTI Financial Centre at Nagaon. The new UFC will be opening at R.R.B ROAD. Haibargaon, District: Nagaon, State: Assam, PIN Code: 782002, Telephone No: 8657967277. The new offices will be inaugurated on 29 September 2023, demonstrating UTI AMC's commitment to providing better financial services and accessibility to investors. Mr. Imtaiyazur Rahman, MD and CEO stated, “We are constantly stepping up…

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28 Sep

Bajaj Auto launches the Pulsar N150, India’s Favourite 150cc in a new avatar

Business Correspondent0 CommentsBusiness

Bajaj Auto, the world’s most valuable two-wheeler and three-wheeler company, launched the all-new Pulsar N150 in India. The Pulsar N150 is the perfect addition to the expanding Pulsar portfolio, which has seen a slew of sensational launches over the past 18 months, including the biggest ever Pulsar N250 and the incredibly successful Pulsar N160. With Pulsar N150, India’s largest-selling sports bike family finds a worthy new entrant that promises to not only retain the legions of Pulsarmaniacs but also add a host of new ones to the fold. The design language boasts dynamic and energetic character lines, tighter proportions, and modern…

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28 Sep

I-T department searches Lenovo as part of tax evasion probe

Business Correspondent0 CommentsBusiness

The I-T (Income-tax) department raided at the at the offices of IT hardware maker Lenovo on September 27 (Wednesday) as part of a tax evasion probe against the company and some of its affiliates, official sources said. The raids were conducted at the offices in Haryana's  Gurugram and Karnataka's capital city Bengaluru, they said. Lenovo leads the global personal computer (PC) market with a 24% share. The company clocked USD 1.9 billion in revenue in India in the financial year 2022-2023 , with a market share of  17% in the country. The sources said the taxman suspects tax evasion and…

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28 Sep

Government to sell 50-year bonds for first time

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, India

The central government will sell 50-year bonds for the first time to meet demand for long-dated securities from the country's life insurance and pension fund sectors. This comes as a major development in the country's financial sector as a rapidly growing middle class seeks long-term financial security and retirement planning through such investments. The new 50-year bonds announced in the borrowing plan released by the Reserve Bank of India on Tuesday will add to the 30-year and 40-year tenor bonds currently offered. “Investor demand has strengthened, supported by the expansion of the formal sector, with households allocating a higher share…

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27 Sep

Festive cheer: Milk prices may not rise further, says Amul chief

Business Correspondent0 CommentsBusiness

Cooperative Milk Marketing Federation MD Jayen S Mehta(owner of Amul)  said that the prices of the milk may not rise further in 2023, the arrival of monsoons on time resulted into a pretty good situation. He further said that the timely monsoon has also helped dairy farmers to remain free from pressure of high prices of feed and fodder by keeping them under control. Earlier this year due to low production of milk the prices of it were increased in many cities.

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27 Sep

Revolutionising ATM Transactions: Utkarsh Small Finance Bank Introduces ICCW

Business Bureau0 CommentsBusiness

Utkarsh Small Finance Bank Limited (USFBL) has introduced an innovative service that is poised to transform the cash withdrawal experience. The bank has unveiled the Interoperable Cardless Cash Withdrawal (ICCW) service, which leverages the Unified Payments Interface (UPI) across its ATM network. This move aligns with the Reserve Bank of India's directive, urging all banks to incorporate Interoperable Cardless Cash Withdrawal (ICCW) options at their ATMs, and Utkarsh Small Finance Bank has taken the lead in adhering to this mandate. The ICCW service empowers bank customers who are active on UPI to easily withdraw cash from designated Utkarsh Small Finance…

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27 Sep

Kayak Festive trend insights reveal Indian travelers’ willingness to embrace nomadism

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KAYAK, the world's leading travel search engine, has found that travel interest among Indians is increasing as the festive period of Diwali approaches. The research, which surveyed 1,200 Indians, revealed that 98% of respondents intend to travel within India during the festive period, while 60% plan to travel internationally. This indicates that Indians are eager to embark on journeys during this festive period, which starts from Navratris and Dussehra and ends with Diwali and BhaiDooj. KAYAK has introduced an updated Best Time to Travel tool that now includes ChatGPT integration. KAYAK data shows a 29% increase in domestic flight searches…

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27 Sep

Droom Study found MG Hector Diesel provides the most favorable resale value

Business Bureau0 CommentsBusiness

Droom, India’s leading automobile e-commerce platform, conducted a study to find out which SUV offers the best resale value. The MG Hector Diesel, a highly competitive SUV, outperformed competitors like the Hyundai Creta, Tata Harrier, Mahindra XUV700, Mahindra XUV300, Kia Seltos, and Hyundai Alcazar in a rigorous comparative analysis. With an 85% resale value, MG Hector Diesel solidified its position as an industry leader in the SUV segment, highlighting its enduring legacy and reliability, which ensures its value remains intact for years to come. The MG Hector Diesel has a resale value of 80-85%, while the Hyundai Creta has a…

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27 Sep

Ambani’s kids won’t get salary, only fee for attending board meetings

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, India

Billionaire Mukesh Ambani's three children – Isha Ambani, Akash Ambani and Anant Ambani – will not get any salary as directors of Reliance Industries (RIL). A fee will be paid to attend their board and committee meetings in accordance with a resolution submitted by the company seeking shareholders' approval for their appointment to the board as non-executive directors. India's richest man Mukesh Ambani has been drawing zero salaries since FY21 and will continue to do the same for the next five years. “They shall be remunerated by way of remuneration for attending Board or Committee meetings or any other meetings…

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