India’s largest lender and a pioneer in SME lending, State Bank of India (SBI) has taken yet another trendsetting step in this space by entering into a partnership with realme to cater to the inventory finance needs of the distributors and dealers of its brand realme – through SBI’s electronic lending product (e-DFS). With this MoU the dealers and distributors ... Read More »
No other country carries within it the diversity that India does. This trite-but-true dictum extends even to taxation, with different states having markedly different rates of prosperity. Karnataka, for example, has a per capita income that is almost five times that of Bihar. Expectedly, the manner in which India distributes the tax revenue it raises between the Union government and ... Read More »
Verizon Media is launching on Wednesday a new personal finance site for Generation Z and millennials called Cashay. The site will feature a mixture of content, including original stories by Cashay’s editorial staff, special reports and series from the Yahoo Finance team, as well as a 400-plus collection of articles from Financial Fitness Group, the project’s content partner. (Financial Fitness Group ... Read More »
Azimo, the money transfer service that is HQ’d in London but has the majority of its staff based in based in Poland, has secured €20 million in debt from the European Investment Bank (EIB), the lending arm of the European Union. The financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the EU’s “Investment ... Read More »
Union Finance Minister Nirmala Sitharaman, flanked by her deputy Anurag Thakur (to her right) and a team of officials, shows a folder containing the Union Budget documents as she arrives at Parliament Facing one of the steepest slides in growth and just into the first year of its second term, the NDA-2 government decided to play safe when it came ... Read More »
From investors to aam aadmi, all are eagerly waiting for February 1 as Finance Minister Nirmala Sitharaman is going to table Union Budget 2020-21.The process of printing documents for the Union Budget 2020 had started with a ‘halwa ceremony’ on January 20. While all the finance ministry officials are busy with preparing the budget documents, Kuldeep Kumar Sharma, the man responsible for printing ... Read More »
Consumer durable lender Bajaj Finance on Wednesday reported a 52% year-on-year (y-o-y) rise in consolidated net profit of ₹1,614.11 crore, its highest-ever quarterly profit, on the back of healthy interest income. Bajaj Finance’s interest income surged 39% y-o-y to ₹6,104.84 crore in the December quarter of FY20. The other large component of its revenues was in the form of fees and commission ... Read More »
The finance ministry is considering tightening norms for high-value jewellery transactions, Business Standard reported. Linking the transactions with Aadhaar or another ID proof has been proposed, the report said. Officials prefer Aadhaar over PAN as ID proof, sources told the paper. Another suggestion is to bring gem and jewellery dealers under the purview of the Prevention of Money Laundering Act (PMLA), ... Read More »
Desi sweet dish halwa, which is part of most auspicious ceremonies or events held in the country, has been prepared and distributed among staff and members by successive governments before kick-starting the printing of budget documents. The ceremonial distribution of halwa will be held on January 20 as it marks the official beginning of Budget 2020. The halwa ceremony will be ... Read More »
Balasore: Two employees of a private finance company were robbed of Rs 1.7 lakh by armed miscreants near Nayakbandha crusher under Soro police limits in Balasore district on Sunday morning. The matter came to light after the victims, employees of a private finance company, Jagannath Swain and Rashmirekha Das, lodged a complaint with the local police this morning. According to sources, ... Read More »
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