After pumps, Bata stores to provide cash withdrawal
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Author: Sanjay Kumar
Freecharge ties up with ICICI Bank to offer POS services
Snapdeal-owned FreeCharge has tied up with ICICI Bank’s Merchant Services, which will allow consumers to pay their bill at over 1 Lakh ICICI stores with their Freecharge accounts. These merchants are located at across 700 cities and towns in India, the company said. “FreeCharge’s partnership with ICICI Merchant Services, powered by First Data, will ease […]
Modi says people who deposited others’ money may get to keep it all
Opening a new front in the fight against black money, Prime Minister Narendra Modi today said people who were forced or tricked into depositing other people’s money into their bank accounts may be allowed to keep the entire sum for themselves. “Do not touch that money,” Modi said, addressing a rally in UP. “I am […]
Bajaj Auto to unveil its high-end brand ‘Dominar’ on Dec 15
Bajaj Auto said it will shortly add yet another sub-brand to its line-up of motorcycles in India. The Dominar will sit above the Pulsar, currently Bajaj’s top in-house brand and will be introduced on Dec 15. The first motorcycle carrying the brand rolled out from Bajaj Auto’s Chakan Plant on 18th November, the company said. […]
BJP asks all MPs, MLAs to submit bank statement to party
As part of the ongoing crackdown on tax evasion and illicit funds, the Bharatiya Janata Party has asked all its MPs and MLAs to submit the full details of their banking transactions from Nov 8 onwards. The central leadership of the party will examine the bank statements of these representatives to check for any illegal […]
PM Modi’s official Twitter account gets ambushed by AAP
For long, the Bharatiya Janata Party held the upper hand on Twitter — which — along with comment boards on news websites — forms the ‘wild west’ of political online campaigning in India with large-scale manipulation, ‘fake’ accounts, bullying and targeted attacks. Not to be outdone, the Aam Aadmi Party — or some of its […]
DEMONETIZATION: How some earned lakhs standing in queues
The government has banned over-the-counter exchange of old 500- and 1000-rupee notes due to suspected gaming of the system by those with black money. According to banking industry sources, the over-the-counter exchange system was being massively misused by hawala operators and others who had illegal funds to convert their old currency into new notes. “The system […]
Spicejet turnaround continues, Q2 Profit doubles
SpiceJet reported a doubling of its net profit to Rs 58.9 Crore for the July-September period as against Rs 29 crore for the same quarter last year. Operating revenue for the quarter stood at Rs.1,400 crores, a growth of 35%. Capacity deployed registered a growth of 38% over the same quarter last year. Despite a […]
Despite Demonetization, India will beat China in GDP growth: Fitch Ratings
Despite a moderation in India’s GDP growth rate in the short term due to cash crunch, the Indian economy will still grow faster than that of China, global ratings agency Fitch said. “We still expect India’s GDP growth to trend higher than China’s in the medium term,” said the agency, whose primary job is to […]
Demonetization: Sobha Developers offers instalment scheme on Dubai project
Sobha Group, a real estate developer focused on South India and the Middle East, has announced a new deferred payment plan for apartments and villas at Sobha Hartland – an integrated freehold community on the Dubai Water Canal in Mohammed Bin Rashid Al Maktoum City. Under the new plan, buyers of apartments and villas can […]
FULL TEXT: Ratan Tata’s statement on Demonetization
Ratan Tata, one of the most respected business figures in India and the chairman of Tata Trusts, has drawn attention to the practical difficulties faced by ordinary citizens in dealing with the ongoing currency exchange program. Tata, who was one of the first business leaders to extend a hand of friendship to Narendra Modi when […]
There can be no Equality without Reservations – Ravi Shankar Prasad
Law and Justice minister said that reservations to Dalits and backward communities was essential to ensuring equality of opportunity in government jobs. Delivering a talk on the concepts of freedom and equality in the Indian constitution, Prasad said it was wrong to think that reservations — based on caste and community — was against the […]
ICICI Bank is the first with UPI app for merchants
While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants. The app requires a current account with ICICI Bank to operate, and any small merchant or shopkeeper […]
Rahul Gandhi seeks Parliamentary probe into ‘leak of information’ ahead of demonetization
Congress Vice President Rahul Gandhi dismissed charges that the opposition was not speaking in one voice on demonetization and said the entire opposition is united in their demands. Asked whether the opposition parties wanted a roll-back, Gandhi said there were only two demands — one that Modi should speak in Parliament, and the secondly that […]
82,000 ATMs recalibrated out of nearly 2 lakh so far
Banks have recalibrated 82,000 out of a little over 2 lakh ATMs in the country, economic affairs secretary Shaktikanta Das. “It will be only a matter of a few days (more) till all the ATMs are recalibrated,” Das said. To ease cash supply to the agricultural sector, a total of Rs 21,000 cr of new […]
Fitch says demonetization gains may not last
Fitch Ratings said the positive effects are unlikely to be strong and sufficiently enduring “to support credit profiles” and will impact GDP growth in the current quarter. Though the gains will be substantial in the short-term, they may not last as people may still go back to their old ways after a while. It said […]
‘Book My Chotu’ sends helpers to stand in ATM queue for you @ Rs 90
Bookmychotu.com, which providers helpers and handymen for various household and other chores, is now offering to send people to stand in queues in front of ATMs at Rs 90 per hour. An eight-hour shift for a ‘chotu’ costs Rs 550, or Rs 69 per hour. “Are you short of cash? Need a Helper to stand […]
Hiring slows in October due to festival effect – Naukri.com
Hiring activity fell 8% October this year compared to the same month a year ago, according to Naukri.com’s Job Speak Index. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October, the company said. “Hiring activity generally tends to slow down around these festivals as recruiters […]
Card payments slow as people start swiping more after Demonetization
Swiping a debit or credit card at the local grocery store or supermarket is supposed to be the best way to beat the demonetization blues, but going by social media feedback, these networks are getting overloaded as well. In fact, our own staff have found that they have had to swipe their cards 3 or […]
SpiceJet offers tickets for Rs 737 in annual sale, Bangalore-Delhi at 2900
SpiceJet has launched its ‘Spicy Annual Sale’, offering all inclusive one-way fares as low as Rs 737 for travel to select destinations on its domestic network. The four day sale launched today will be open till midnight, 24th November, 2016 whereas the travel period covered is from 9th January 2017 to 28th October, 2017. The […]