BUSINESS
Embargo lifted on pvt banks to conduct govt business
With the permission, all banks would be allowed to conduct government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc. This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services, a government statement announcing the changes said.
Airtel enters advertising business with Airtel Ads
"Advertising is an adjacency to our core business of delighting our customers with great services. Therefore, we combine the privacy that is paramount to our customers with the trust and transparency that is vital to the brands we serve," Nair added.
Consumer gold demand in India set to recover in 2021: WGC Report
Lower customs duty and recovering demand may allow official imports to gain strength at the cost of unofficial imports, although the 14.07 per cent duty continues to make the grey market attractive, the report said. Further, as per WGC, the gold industry in India has reacted positively to the recent budget announcements.
Twitter CEO Dorsey's Square firm invests $170M in Bitcoin
Dorsey's company purchased about 3,318 bitcoins at an average price of $51,236, the company disclosed in its quarterly earnings report on Tuesday. The announcement has come at a time when the Bitcoin value has surged dramatically over the past few months, setting new records. The current price of a single bitcoin is just under $50,000.
Gail to be excluded from Nifty50
The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review. In Gail's place, Tata Consumer Products will be included in the index from March 31, 2021. Besides, the changes will be effected in Nifty Next50, Nifty500 amongst others.
Foodgrain production rose over 18% in past 5 years: Tomar
Expressing satisfaction on the rising production of pulses in the country, Tomar stressed the need of more focus to increase their production or self-reliance. He urged the states to ensure farmers get Minimum Support Price for their crops.
India's economic recovery in consolidation phase: ICRA
The agency said after the broad-based improvement seen in December 2020, the year-on-year (YoY) performance of a majority of the early available economic indicators recorded a loss of momentum in January 2021, relative to the previous month.
Pandemic, investment curbs help India reduce trade deficit with China
As per official data, India's trade deficit with China declined by 19.39 per cent from $56.95 billion in 2019 to $45.91 billion in 2020. The decline had largely been supported by all-time high levels of exports of goods and services by India.
NCLT rejects Jet employees' plea for copy of Jalan's resolution plan
A top corporate tribunal has rejected the plea of Jet Airways employees seeking a copy of the resolution plan of the successful consortium of Murari Lal Jalan and Kalrock Capital. The consortium's resolution plan has been accepted to restart the now defunct airline.
Zomato raises Rs 1,800cr from five investors
The five investors who have pumped money in the new round are Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer ($10 million). The new funding for Zomato comes just a couple of months after closing a $660 million financing round.
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