BUSINESS
Small and medium enterprises optimistic about e-commerce led growth: Survey
The survey, commissioned by FedEx and conducted by Dun & Bradstreet India, showed that the optimisation has come up among the SMEs as 30 per cent of small businesses and 40 per cent of medium businesses witnessed a rise in e-commerce sales since the lockdowns began.
India's foreign exchange reserves swell by $2.56 billion
According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $581.131 billion from $578.568 billion reported for the week ended December 11. India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
FTMF Funds Closure: CFMA moves Supreme Court on SEBI for not naming observer for voting
The CFMA said that though the Supreme Court order was passed on December 9, there have been no apparent steps taken by the SEBI to appoint an observer. "The voting is scheduled to commence tomorrow (Saturday) and there is no update about the observer and his/her co-ordinates, including email and contact information."
Government may reduce oil subsidy budget by half in FY 22
Sources said that the maths being worked out by the Finance Ministry ahead of the presentation of Budget 2021-22 in February next year could see petroleum subsidy burden falling by more than half from the FY21 levels of Rs 40,915 crore. A major saving on the subsidy is expected to come from reduced government support for domestic LPG cylinders.
India's GDP: Quickest to fall, fastest to recover
The economy, which faced a severe slowdown prior to the pandemic, was decimated due to the lockdown imposed to curb the pandemic's spread. Accordingly, the country's GDP contracted by more than 23 per cent in Q1FY21. Nonetheless, slow tapering of mobility and lockdown restrictions along with pent up demand narrowed this contraction to under 10 per cent in Q2FY21.
NDTV promoters to appeal against SEBI order imposing Rs 27 crore fine
Apart from the Rs 25 crore penalty on NDTV promoters, the capital market has also imposed a fine of Rs 1 crore each on Prannoy and Radhika. The SEBI order, dated December 24, said that if the noticees fail to pay the penalty within 45 days, recovery proceedings may be initiated.
FIDC seeks liquidity support for smaller NBFCs in upcoming budget
In its letter, the industry body noted that although the government has taken a number of steps to provide liquidity support to NBFCs over the past two years, small and medium-sized NBFCs continue to face challenges on the liquidity front. It said that all the small-sized NBFCs, and also a large number of medium-sized NBFCs, do not access capital market due to the complexities in compliances to various rules and regulations.
Myntra sells 1.1 crore items to 32 lakh customers in 5 days
Also catering to more than 50 lakh orders, the fashion carnival witnessed 51 per cent increase in traffic over the previous winter edition. The company said it processed record-breaking more than 19,000 items per minute at peak. Nearly 4.3 crore unique users visited the platform and 54 per cent new customer acquisition came from tier 2, 3 cities and beyond.
Homegrown apps capture 40% market share of TikTok since ban
Post ban on TikTok, a huge void was created and nearly 170 million TikTok users were left searching for options to entertain themselves at low cost. TikTok which had nearly 85 million users in India in June 2018, surged to reach over 167 million users by June 2020, when a ban was slapped on the platform over national security concerns.
PE investment in Indian real estate likely to revive in 2021
The report noted that the growth may come on the back of an improving economic sentiment supported by policy reforms and growth in key emerging sectors.
Don't Miss
Advertisement