BUSINESS
RBI revises guidelines for hiring bank lockers, increases rental charge |10 points
However, it is not just beneficial for banks alone as the new RBI guidelines make it mandatory for banks to settle the claims of customer complaints within a period of 15 days from the original complaint. This would result in a much efficient system overall. This move has come amidst the concern raised by the Supreme Court.
Indian govt's IT spending to reach $8.3 bn in 2022
The software segment is forecast to achieve the highest growth of 24.7 per cent in 2022 as the adoption of citizen service delivery applications with use of artificial intelligence and machine learning will improve across citizen initiatives. "The pandemic forced the government to shift priorities as supply chains and revenue streams dwindled," said Apeksha Kaushik, senior principal research analyst at Gartner.
IndiGo's UAE bound flights cancelled for a week
Industry insiders alleged that the airline ferried few passengers, who violated travel testing norms for entering the UAE. The airline in a statement said that all flights to the gulf country have been cancelled due to operational issues "Due to operational issues, all IndiGo flights to UAE stand cancelled till August 24, 2021," the airline said in a statement.
Diesel prices fall further, petrol holds steady
This is one successive day when diesel prices have been cut across the country. The companies, however, have kept petrol prices unchanged for the 33rd consecutive day as wait and watch continued to analyse the global oil market for some more time before any revision. With the cut, diesel is now priced at Rs 89.47 and with no change in rates petrol continues to be sold for Rs 101.84 per litre in Delhi.
Indian businesses suffer more cyber attacks with remote working
While 38 per cent of respondents from India continue to be very concerned about the security risks while working remotely, globally, this figure stands at 39 per cent, according to '2021 Thales Global Data Threat Report', a commissioned study conducted by 451 Research, part of S&P Global Market Intelligence.
Profit booking, global cues subdue indices
Accordingly, after a healthy buying spree, the market breadth turned weak due to profit booking and negative European cues. Initially, the key indices had a gap-up opening. The two key domestic indices gradually rose to touch record high levels intra-day. Consequently, the NSE Nifty50 touched a record high of 16,701.85 points, while the S&P BSE Sensex reached 56,118.57 points during the session. But profit booking and negative European cues dented the sentiments.
Oil palm sector welcomes govt's moves to boost production in India
The Oil Palm Developers and Processors Association (OPDPA) said the slew of measures announced by the government on Wednesday will make it viable for the industry to operate and ensure the country is self-sufficient in meeting its edible oil requirements. The Union Cabinet on Wednesday cleared the setting up the Rs 11,040 crore National Mission on Edible Oils-Oil Palm to boost palm oil production in India and reduce dependence on expensive imports from Southeast Asia.
Reclusive Radhakishan Damani breaks into top 100 richest list
Damani, who grew up in a humble background is now ranked 98 on the Bloomberg Billionaires Index with a net worth of $ 19.2 billion. The Bloomberg Billionaires Index is a daily ranking of the world's richest people. The other Indians in the top 100 are Mukesh Ambani, Gautam Adani, Azim Premji, Pallonji Mistry, Shiv Nadar, Lakshmi Mittal.
Govt sensitive about petroleum prices: Hardeep Puri
Puri blamed the previous Congress government's decisions for the current increase in prices of petroleum products. Addressing a press conference at the BJP's Delhi unit office on the third day of 'Jan Ashirwad Yatra', Puri said, "We are sensitive towards it (prices of petroleum products) and are taking all the possible steps including blending of ethanol which the government will increase to 20 per cent.
2nd wave of Covid slows profit growth rate of financial cos
According data in the Reserve Bank of India's (RBI) Bulletin for August, the growth in net profit of financial companies rose was 40.5 per cent in the April-June quarter, compared to the 594.4 per cent growth in January-March quarter. Expenditure growth remained subdued, reflecting the easy cost conditions in the economy as a result of the Reserve Bank's measures to expand liquidity and ease financial conditions.
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