Reliance Jio has crossed the 5 cr subscriber mark, which gives it a market share of around 10% among cellphone users in the country. Though India has a total of around 80 cr subscribers on paper, due to multiple and dormant connections, the actual cellphone users is estimated to be around the 50 cr or […]
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 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 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 […]
LG Electronics India said select retail outlets will start offering LG home appliances at zero downpayment with the first EMI to be paid only after 60 days of purchase. The offer is applicable across various segments of LG’s consumer electronics and home appliances with Zero Down Payment and Zero Interest at select retail outlets. “Without […]
Subash Chandra’s Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group. Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages. The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and […]
Zee Entertainment Enterprises said it is acquiring the General Entertainment Broadcasting Business of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group. The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainment channels — BIG Magic and BIG Ganga […]
Airtel Payments Bank, a subsidiary of Bharti Airtel Limited, today said that it has rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank has become the first payments bank in the country to […]
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 […]
Retailer Shoppers Stop Ltd. said it has opened one ´M.A.C´ branded outlet at at Inorbit Mall in Malad, Mumbai. With the opening of this store the company now has 41 M.A.C stores under its operations. Shoppers Stop is an Indian retailing company promoted by the K Raheja Corp Group, started in the year 1991 with […]
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 […]
Mukta Arts said its subsidiary Whistling Woods International Ltd has opened its 8th school — Whistling Woods International School of Design — in association with ECV, a design school in France. The École de communication visuelle or ECV is a French private design school. The India school offers a Bachelor’s degree in visual communication and design, […]
Bliss GVS Healthcare Ltd said it won a three year contract worth $111.40 mln (Rs 760 cr) from Aon Kenya Insurance Brokers Ltd for provision of medical health care services in Kenya. Bliss GVS Pharma Ltd is a pharmaceutical company based in Mumbai, India. Bliss GVS primarily develops, manufactures and markets products across various […]
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 […]
The Supreme Court on Monday dismissed the petition filed by the Income-Tax Department against Reliance Communications on taxing of the proceeds of Foreign Currency Convertible Bonds (FCCBs), said the telecom operator. The Supreme Court order has quashed contingent tax liability of RCOM for about Rs 4,800 crore. During Financial Year 2006-07, Reliance Communications had issued […]
In what can only be called a highly disruptive move, Anil Ambani’s Reliance Communications has made all voice calls in India free for those who recharge with a coupon of Rs 149 per month. The impact of the move will be greater than that of Reliance Jio’s similar tariff, as this tariff is valid on […]
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 […]
Mahindra & Mahindra Ltd said it opened a spare parts warehouse in Mahindra World City, Jaipur. “It is one of the largest warehouses in the country and the company’s first in northern India, it will cater to the requirement of Mahindra customers in north and north western region of the country for both automotive and […]
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 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 […]
