Amazon doubles Prime subscribers in 18 months

This post was originally published on this siteAmazon has doubled its Prime subscriber base in India in the last 18 months, with a record number of new customers joining the subscription programme in the last 12 months, Prime’s India head Akshay Sahi said. Prime was launched in India in 2016. It has quickly emerged as … Read moreAmazon doubles Prime subscribers in 18 months

RBI panel proposes Rs 10,000 crore government fund to develop MSMEs

This post was originally published on this siteA panel constituted by the Reserve Bank of India (RBI) to suggest measures to develop micro, small and medium enterprises (MSMEs) has proposed a Rs 10,000-crore government fund. The idea is that this will support venture capital and private equity funds investing in the MSME sector. Please follow … Read moreRBI panel proposes Rs 10,000 crore government fund to develop MSMEs

‘Doctors in government hospitals are par excellence … a skewed doctor-patient ratio is the major cause of trouble’

This post was originally published on this siteIndia’s public healthcare system has been in the spotlight following an assault on a junior doctor in West Bengal. Tatyarao P Lahane, an ophthalmologist by training, who is director of Maharashtra’s Directorate of Medical Education… Please follow and like us:

‘FB’s Libra coin closely watched by authorities’

This post was originally published on this siteFacebook’s plan to expand into payments is not expected to be on the agenda of this week’s G20 summit in Japan, but the social media giant’s intentions could lead regulators to take a closer look at crypto assets, a G20 regulatory group said on Tuesday. Facebook said last … Read more‘FB’s Libra coin closely watched by authorities’

Stop tenders, Put capex on hold: DoT tells BSNL

This post was originally published on this siteThe telecom department is learnt to have asked state-owned BSNL to put all tenders and purchase order on hold, as the company is facing financial crisis. The finance department of BSNL issued order in this regard on June 2, directing all its circle head to take prior approval … Read moreStop tenders, Put capex on hold: DoT tells BSNL

Amount involved in bank frauds of above Rs 1 lakh on decline

This post was originally published on this siteThe amount lost in bank frauds of Rs 1 lakh and above has been on a decline since 2016-17, Parliament was informed on Tuesday. Banks and select financial institutions reported to RBI that frauds of Rs 1 lakh and above amounting to Rs 25,884 crore occurred during 2016-17. … Read moreAmount involved in bank frauds of above Rs 1 lakh on decline

Madras high court dismisses Cognizant’s plea challenging Rs 2,912 crore tax demand

This post was originally published on this siteThe Madras high court on Tuesday dismissed a plea of information technology major Cognizant Technology Solutions (CTS) challenging the recovery proceedings initiated by the income tax department for non-payment of Rs 2,912.25 crore dividend distribution tax (DDT). Please follow and like us:

Sensex falls over 150 points; IT stocks drag

This post was originally published on this siteDomestic equity benchmark BSE sensex fell over 150 points in early trade on Tuesday tracking losses in IT stocks amid weak cues from other Asian markets. The 30-share index was trading 124.41 points, or 0.32 per cent, lower at 38,998.55 at 0930 hours. Similarly, the broader NSE Nifty … Read moreSensex falls over 150 points; IT stocks drag

‘Ready to exit India if found leaking data’

This post was originally published on this siteJay Chen, CEO of Huawei in India, said the company is ready to give an undertaking to the government about the robustness of its network and the steps that it has undertaken to make the Huawei telecom equipment safe from the perspective of data protection — both for … Read more‘Ready to exit India if found leaking data’

$490 billion in black money stashed abroad by Indians: Report

This post was originally published on this siteStudies conducted by three premier institutes — NIPFP, NCAER and NIFM — have concluded that unaccounted wealth held by Indians outside the country till 2010 could be as high as $490 billion, besides black money parked within the country as ‘investments’ in sectors like real estate, mining, tobacco/gutka, … Read more$490 billion in black money stashed abroad by Indians: Report

Mindtree CEO may go as L&T tightens grip

This post was originally published on this siteLarsen & Toubro (L&T) is likely to push for a management rejig at Mindtree, including a change of CEO, even as the engineering services conglomerate tightens its hold over the Bengaluru-headquartered company. The share sale by Nalanda Capital, the largest institutional investor, came as a big blow to … Read moreMindtree CEO may go as L&T tightens grip

No. of wilful defaulters in nationalised banks up 60%

This post was originally published on this siteThe number of wilful defaulters in nationalised banks has increased by over 60% to 8,582 in five years to March 2019, the government said. By the end of 2014-15 fiscal, the figure stood at 5,349, finance minister Nirmala Sitharaman said in a written reply in LS. A wilful … Read moreNo. of wilful defaulters in nationalised banks up 60%

Bombay HC orders JJ Hospital report on Choksi

This post was originally published on this siteBombay high court on Monday directed Mehul Choksi’s medical case papers and reports, called for by his counsel Vijay Agrawal and be sent to government run JJ hospital where HoD of Cardiaoligy will analyse and send a report to court on whether he is fit to travel to … Read moreBombay HC orders JJ Hospital report on Choksi

Bitcoin surges above $11,000 as FB unveils Libra

This post was originally published on this siteBitcoin surged to a near 16-month high above $11,000 Monday, overshadowing showings across stock, foreign exchange and commodity markets, with investors looking ahead to the week’s G20 summit. Bitcoin reached $11,251.21 as the cryptocurrency sector got a huge boost from Facebook’s unveiling of its own digital unit Libra. … Read moreBitcoin surges above $11,000 as FB unveils Libra

Binny offloads $76m worth Flipkart shares to Walmart

This post was originally published on this siteA year after Walmart acquired the business he co-founded, Binny Bansal sold more shares in online retailer Flipkart to its new owner. Bansal, one of the poster boys of the Indian startup industry, had sold a small portion of his minority holding while keeping a 3.85% stake when … Read moreBinny offloads $76m worth Flipkart shares to Walmart

RBI panel defers reserves report for fourth time

This post was originally published on this siteA Reserve Bank of India (RBI) panel deciding on guidelines for transfer of the central bank’s surplus funds to the government has further delayed submitting its report, an official said on Monday. The six-member panel, headed by former RBI governor Bimal Jalan, which was supposed to submit the … Read moreRBI panel defers reserves report for fourth time

RBI dy guv Viral Acharya quits: 10 things to know

This post was originally published on this siteReserve Bank of India (RBI) deputy governor Viral Acharya has decided to step down six months before the scheduled end of his three-year term. This is the second high-profile exit in the past seven months after former RBI chief Urjit Patel resigned abruptly in December last year. Speculation … Read moreRBI dy guv Viral Acharya quits: 10 things to know