Due to low tariffs rates and discounts offered by hotels, resorts and airlines, India’s domestic tourism has gone up by 23.5% during the monsoon season as compared to 18.5% last year, said industry association ASSOCHAM. The ASSOCHAM survey reveals that there has been a surge in travel by Indians within the country in the last […]
Honda Motorcycles has launched 5 new models in India — the biggest ever such launch in the two-wheeler history of this country. The new launches address everything from entry-level to premium. These are the new models: At the top is the CBR 650F Premium sports tourer. The 650cc motorcycling beast comes powered by 16 valve […]
Even as many voices said that the Reserve Bank of India is unlikely to cut interest rates further this year, the real estate sector — though disappointed by today’s actions — is holding out hope that it will do so in coming months. On the RBI’s decision not to cut rates during its third monetary […]
Federal Bank is promising low interest rates and quick processing for personal loans for salaried employees under its new Fed Premia scheme. Under the scheme, salaried borrowers can avail personal loan up to Rs.10 Lakh with repayment period extending up to 48 months. It will offer “competitive interest rate and the quick processing time,” the […]
Godrej Properties announced its first quarter results, reporting a 21% increase in net profit to Rs 55 cr. Total income fell to Rs 263 crore compared to 363 crore, while EBITDA increased by 7% to INR 81 crore from INR 75 crore. EPS amounted to INR 2.76 as compared to INR 2.29. Total booking value […]
The following are reactions from industry experts and analysts on RBI’s monetary policy announced today. The central bank did not change key interest rates, which was in line with what the Street had expected. Repo rate remains unchanged at 7.25% and CRR remains unchanged at 4%. Kunal Shah, Fund Manager, Debt at Kotak Mahindra Old […]
Real Estate player Sobha Limited has launched a new ridge-top project in Bangalore called ‘Sobha Clovelly’, which the developer calls ’boutique homes’. The apartments stand tall along a geographical ridge, thus capitalizing on the beautiful vistas of the city’s skyline. “This new project will certainly be a trend-setter in Bengaluru’s real estate market and an […]
Anil Agarwal, chairman of the global metal giant Vedanta Resources, continued to push for the merger of the flagship company with Cairn India Ltd, a cash-rich petroleum producing company owned by Vedanta. The merger has been criticized as harming the interests of the third-party shareholders of Cairn India Ltd, and institutional investors such as the […]
The Catholic Syrian Bank Limited, a private bank based in Kerala readying for its IPO, has appointed Anand Krishnamurthy as the Managing Director and Chief Executive Officer. Krishnamurthy holds a bachelor’s degree in technology (mechanical engineering) from the Indian Institute of Technology, Madras and a post graduate diploma in management from the Indian Institute of […]
The subjects of human experiments involving chemical agents carried out in India by the UK’s Porton Down military research station are unlikely ever to have given meaningful consent, a new book reveals. One such experiment resulted in an Indian sepoy, serving as a soldier, suffering severe burns to his face after his respirator slipped during […]
The government of India has asked internet service providers to block 857 porn websites, including youporn.com and porntube.com. The move comes barely a month after the Supreme Court of India refused to ‘ban’ porn, saying that it could be construed to be a violation of the liberties guaranteed by the Constitution of India. Supreme Court […]
Yamaha Motor India Sales Pvt. Ltd. announced that it has registered a growth of 16.5% in domestic sales during July 2015 as compared to the corresponding period last year, one of its best performances in recent months. “Along with its innovative efforts, ongoing customer-centric activities, exciting product line-up with the addition of recently launched stylish […]
Yamaha Motor India Sales Pvt. Ltd. announced that it has registered a growth of 16.5% in domestic sales during July 2015 as compared to the corresponding period last year, one of its best performances in recent months. “Along with its innovative efforts, ongoing customer-centric activities, exciting product line-up with the addition of recently launched stylish […]
IDBI Bank has launched a unique kiosk-based branch that will provide services such as issue of demand drafts and pay orders and request of cheque leaves 24×7. “IDBI Bank would be the first bank in the country to make available these services on 24X7 basis,” the government-controlled bank said. These Kiosks will also have the […]
Snapdeal, India’s largest online marketplace today and HDFC Bank Ltd. today launched a co-branded Visa credit card with lots of offers and discounts. The new card will offer Rs 500 cash back on spending Rs 5000 across any category on Snapdeal (for one time only.) It will also offer 10% cash back on Recharges & […]
ICICI Bank Ltd, India’s biggest private sector bank, reported a 14% year-on-year increase in consolidated profit after tax to Rs 3,232 crore (US$ 508 million) for the quarter ended June 30, 2015 (Q1-2016) from Rs 2,832 crore (US$ 445 million) for the quarter ended June 30, 2014 (Q1-2015). Net interest margin improved to 3.54% in […]
Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]
Moody’s Analytics, a division of global ratings firm Moody’s, has warned that the current government at the center needs to start delivering on its reform promises as business confidence is starting to dip. The firm also warned that meddling in Reserve Bank of India’s powers to manage interest rates could have a bearing on India’s […]
Maruti Suzuki DZire, India’s best-selling entry sedan for last three years, has attained the 10 lakh (1 mln) cumulative sales mark this month, its maker said. Launched in 2008, Maruti Suzuki DZire has been a category leader and has helped Maruti Suzuki strengthen its presence in the entry sedan segment. Despite not so great looks, […]
Global drinks player International Beverage Holdings Limited (IBHL), a wholly-owned subsidiary of Thai Beverage Public Limited Company, has launched a portfolio of its four select premium spirits in the Indian market. The company has entered with three of its finest single malt scotch whiskies; Old Pulteney, Balblair and Speyburn and a super-premium Scottish gin; Caorunn […]
