BUSINESS
Digital coin adoption to explode in small-town India: WazirX CEO
Touted as the most important asset class of the 21st century, more than 1.5 crore Indians are currently holding over Rs 1,500 crore worth crypto assets. Bitcoin has crossed the $50,000 mark (more than Rs 37 lakh for a single coin) once again. The most popular cryptocurrency has been trading in the green with a market cap of more than $921 billion. With 76 lakh users, WazirX has witnessed a massive 2,648 per cent growth in user signups from tier 2 and 3 cities in the country, observing higher participation from women from smaller towns compared to their urban counterparts.
Petrol, diesel prices remain unchanged on Monday, a day after cuts
Accordingly, petrol continues to be priced at Rs 101.64 a litre and diesel Rs 89.07 a litre in Delhi, the same level as Sunday. Across the country as well fuel prices remained unchanged but its retail rate varied depending on the level of local taxes in states. Petrol prices in Mumbai and Kolkata remained at Rs 107.66 and Rs 101.93 per litre respectively while in Chennai, petrol was priced at Rs 99.32.
IT e-filing portal now live after emergency maintenance: Infosys
Infosys, the developer of the portal, informed about the development through a tweet. The tweet came after the Finance Ministry summoned the CEO of the software major over the continuing glitches in the portal. "The emergency maintenance of the @IncomeTaxIndia portal has concluded and the portal is live. We regret any inconvenience caused to taxpayers," the company said in a tweet late on Sunday evening.
NABARD logs 25% rise in loans and advances in FY21
In its annual report for FY21, G.R. Chintala, the Chairman of NABARD said that half of the total loans outstanding of Rs 6 lakh crore was for credit support of production activities at the grassroots and a third for infrastructure development. The Chairman said that NABARD has been a major player in the infrastructure space with 7.1 lakh projects sanctioned since inception of RIDF under agriculture, irrigation.
Pharma companies lead topline growth in Q1FY22
The report noted that the topline growth was also supported by the resilient IT sector on the back of increasing digital spends, and the resurgent metals space which witnessed firm product realisations. "In Q1FY22, topline growth on a QoQ basis was led by the pharma space, primarily the domestic branded formulations segment," said the recent report.
NABARD extends Rs 24.90 lakh grant for fishing project in TN
A statement from the NABARD on Sunday said the MS Swaminathan Research Foundation (MSSRF) will be implementing the project that is aimed at increasing the adaptive capacity of the fishing community. The project is being implemented at Cuddalore district of Tamil Nadu on 2.1 hectare of land in Mudasalodai village and involves traditional and Irula fishers from Mudosalodai and Kalaignar coastal hamlets mostly from Pichavaram.
GAIL to foray into ethanol & hydrogen production
In his message to the shareholders, in the annual report of GAIL, the Chairman and Managing Director of the company, Manoj Jain said that the energy company will be selectively investing in the renewable energy domain given the future growth potential. He said that to promote new technologies, GAIL has invested in startups that focus on electric vehicles, digitisation among others.
FinMin summons Infosys CEO over glitches in IT e-filing portal
In a tweet, the Income Tax Department also said that the portal is not available since Saturday, August 21. "Ministry of Finance has summoned Sh Salil Parekh, MD & CEO @Infosys on 23/08/2021 to explain to hon'ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved. In fact, since 21/08/2021 the portal itself is not available," the department said.
Finance Minister to launch National Monetisation Pipeline on Monday
The National Monetisation Pipeline (NMP) comprises a four-year pipeline of the Central Government's brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a medium-term roadmap for the Asset Monetisation initiative of the government, said an official statement.
483 infra projects report cost overrun of Rs 4.4 lakh cr
The Flash Report for central sector projects for July released by the Ministry of Statistics and Programme Implementation showed that 504 projects are running behind schedule. The total original cost of implementation of the 1,781 projects was Rs 22,82,160.40 crore and their anticipated completion cost is likely to be Rs 27,25,408.00 crore, which reflects overall cost overruns of Rs 4,43,247.60 crore.
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