Business India News

National Banking Institute (NBI), Nepal Signed Memorandum of Understanding (MoU) with Manipal Global Education Services
Bangalore : To target development in the areas of education, training and research for the banking and financial services organizations in Nepal. National Banking Institute (NBI) signed Memorandum of Understanding (MoU) with Manipal Global Education Services for strategic alliance in development of human resource in the areas of education, training and research for the banking and financial services organizations in Nepal. Read Full Story

Trak N Tell unveils 'Trakpod' open platform GPS tracking device
New Delhi , Oct. 9 : Gurugram-based IoT startup Trak N Tell on Monday announced the launch of Trakpod, a supplement to its Intelli7+. The Trakpod is a technology marvel in the automobile telematics segment, with features similar, as well as additional to Intelli7+. Read Full Story

Discussion required on certain tax slabs under GST: SIAM President
New Delhi , Oct. 9 : The President of the Society of Indian Automobile Manufacturers (SIAM) Abhay Firodia on Monday stated that while the Goods and Services Tax (GST) as a policy comes with a learning curve, there is still a need for a certain moderations to be made with regards to the rates and subsequent items under these slabs. Read Full Story

ICICI Bank commits Ten Crore to the Indian Armed Forces
New Delhi , Oct. 9 : Private sector bank ICICI on Monday announced financial assistance of Rs. 10 crores to the Indian Armed Forces. Read Full Story

Aequs Group invests undisclosed amount in SaaS Start-up
New Delhi , Oct. 9 : Pioneer in establishing Aerospace manufacturing ecosystem in India, Aequs Group has announced taking a first step to expand into the digital space through an investment of an undisclosed amount in Pre-Series A funding in Bengaluru based Automobile Service Logistics and SaaS start-up Read Full Story

VAT on petrol, diesel lower in Bihar than many states: Nitish Kumar
Patna (Bihar) , October 9 : Bihar Chief Minister Nitish Kumar on Monday said the state's Value-Added Tax (VAT) on fuel is the lowest among many states, after Union Petroleum and Natural Gas Minister Dharmendra Pradhan appealed the state governments to cut the VAT on petroleum products by five per cent. Read Full Story

FICCI President to lead CEOs delegation accompanying Jaitley to US
New Delhi , Oct. 9 : A high-powered business delegation led by Pankaj R Patel, President, FICCI and Chairman and Managing Director, Zydus Cadila - Cadila Healthcare Ltd. is accompanying Union Finance Minister Arun Jaitley to the United States on his official visit from October 10 to 15. Read Full Story

RBI guidelines in P2P lending to enable better transparency
New Delhi , Oct. 9 : The guidelines introduced by the Reserve Bank of India (RBI) on P2P lending will bring a greater degree of transparency and seriousness to the sector, according to the exporters. Read Full Story

Success of on-demand services industry dependent on robust unit economics: Timesaverz CEO
New Delhi , Oct. 9 : With festivities round the corner, there is always a surge in customer requests for deep home cleaning services across the country. However, going against the odds of the startup ecosystem, Timesaverz, an e-home service provider has been witnessing a steady growth. Read Full Story

75 shopkeepers clock over 1 crore each during 'Mera Cashback Sale' on Paytm Mall
New Delhi , Oct. 9 : Paytm Mall, owned by Paytm Ecommerce Pvt. Ltd., has announced that more than 75 shopkeepers across ten cities have clocked over one crore each in sales during its 'Mera Cashback Sale'. The e-commerce giant expects its 30,000 retail community partners to clock five times upward sale during the ongoing festive sale. Read Full Story

Zyxel to exhibit managed WiFi solution at Broadband World Forum 2017
New Delhi , Oct. 9 : Zyxel Communications will showcase the Managed WiFi Solution - enabling service providers to deliver seamless whole-home WiFi with exceptional user experience quickly and cost-effectively - at this year's Broadband World Forum. Read Full Story

One-in-three consumers will be virtual reality users by 2020, says Ericsson
New Delhi , Oct. 9 : Fueling the digital era, one in three customers will be Virtual Reality (VR) users by 2020, according to Ericsson's eighth edition of its annual ConsumerLab TV and Media report. Read Full Story

Qbera-Droom partnership to offer tech-enabled auto financing avenue for consumers
New Delhi , Oct. 9 : Fintech firm Qbera on Monday announced its partnership with Droom to provide easy financing options for purchasing pre-owned cars, bikes or new cars from the online automobile marketplace. Read Full Story

Home Decor startup MyGubbi raises USD 2.5 min to strengthen operations
New Delhi , Oct. 9 : Home decor and furnishing start-up MyGubbi on Monday announced raising USD 2.5 million in their Pre-series A round, primarily to be channelised towards strengthening operations and further expansion of the footprint. Read Full Story

MoS Finance says Centre will keep revising tax slabs in GST
Mumbai (Maharashtra) , October 9 : The Minister of State for Finance, Shiv Pratap Shukla, on Monday said the Centre would keep revising the tax slabs as far as the Goods and Service Tax (GST) is concerned. Read Full Story

Dr. Ali Hamsa, Chief Secretary to Government of Malaysia at 7th Convocation Day celebrations of Crescent University
Chennai (Tamil Nadu) , Oct. 9 : Today's era is seeing a rapid rate of globalization. Communicating thousands of miles apart becomes easier, journeys across the globe become shorter, businesses flourish within seconds and decisions are made with the click of a button or a touch of screen. Innovation and creativity help the world progress. To be competitive against the fast changing and progressing world, it is important that we equip ourselves with the necessary tools. If we do not change, we will lose out in the competition, said Tan Sri Dato Dr. Ali Hamsa, Chief Secretary to the Government of Malaysia, at the seventh Convocation Day celebrations of Crescent University. Read Full Story

Pradhan tells OPEC: India expects 'reasonable' crude oil price
New Delhi Oct 8 : Union Minister of Petroleum and Natural Gas Dharmendra Pradhan on Sunday told Secretary General of OPEC (Organisation of the Petroleum Exporting Countries) Sanusi Mohammad Barkindo that India expects reasonable crude oil price from OPEC member countries. Read Full Story

'Data Dollar' puts spotlight on newly created retail payment method
London [UK], Oct 8 : The Data Dollar Store created by cybersecurity company Kaspersky Lab has caused a stir in the heart of London's technology capital in Old Street. Read Full Story

U'khand Govt. launches 'Solar Briefcase' to provide electricity in remote areas
Kedarnath (Uttarakhand) October 8 : The Uttarakhand Government and a charitable funding agency, Swan Cultural Center and Foundation, on Sunday launched 'Solar Briefcase' in Kedarnath Dham. Read Full Story

Mutual Funds bet most on government securities: ASSOCHAM
New Delhi , Oct. 8 : "When it comes to deploying their resources for long-term debt products, the mutual funds bet the most on the government securities or the sovereign," according to an ASSOCHAM analysis. Read Full Story

Five lightweight apps which will help you unclutter your phone
New Delhi , Oct. 8 : With the advent of smartphones, our lives have become simpler. There is an app for every function which offers the users the world in their hands. The advantages of having different apps as per our daily requirements are umpteen. But these multiple apps also slow down the functioning of our smartphones. Read Full Story

Top four Fintech Platforms to help couples take the plunge this wedding season
New Delhi , October 8 : To prepare for a wedding is a cumbersome process! From reserving a venue to booking photographers, bands, florists, and caterers; nothing is easy. And managing enough cash flow for all of these chores can be painful. Read Full Story

India-South Africa Twenty Years of Strategic Partnership
New Delhi : India and South Africa are celebrating twenty years of strategic partnership this year. The Union Minister for Science and Technology and Earth Sciences, Environment, Forests and Climate Change, Dr. Harsh Vardhan attended the celebrations of the collaboration in science and technology in Durban. Read Full Story

Hyundai Energizes the 2017 SEMA Show with Rockstar Energy Moab Extreme Off-roader Santa Fe Sport Concept
LAS VEGAS: Hyundai has released its first tuner concept for the 2017 SEMA show: the Rockstar Energy Moab Extreme Off-roader Santa Fe Sport Concept. Rockstar designed the concept to be able to withstand the ultimate demands of extreme off-roading in Moab, Utah, considered one of the world's most challenging off-road regions. Read Full Story

Pre-registration for 'Sachin Saga Cricket Champions' by JetSynthesys Available Now on Google Play
MUMBAI: JetSynthesys, a leading digital entertainment and gaming company today announced the pre-registration for its much-awaited mobile cricketing game - Sachin Saga Cricket Champions, featuring the master-blaster himself! Read Full Story

Cypher 2017, India's Most Exciting Analytics Summit Concludes Successfully
BENGALURU: Cypher 2017, India's largest analytics summit concluded on September 23rd leaving hundreds of guests full of insights and knowledge. Read Full Story

Infosys Wins Three Prestigious Oracle Excellence Awards for Specialized Partner Cloud Services
BENGALURU: Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services and Cloud Elite member of Oracle PartnerNetwork, today announced it has been awarded three Oracle Excellence Awards for expertly delivering solutions based on Oracle technology. Read Full Story to Offer you the Perfect Deals on 10th October with More than 70 percent Off on Electronics
Mumbai : Launching just in time for Diwali is's exciting 10/10 Sale. The sale embarks 10th October as the peak day for the perfect deals and rewards. 10/10 sale will give festive shoppers enough time, and more than enough reasons to shop from a great line-up of fashion and electronics products. Read Full Story

MobiKwik Launches Festive Brand Campaign, 'Paisa Bana Powerful'
New Delhi : MobiKwik's new brand campaign, 'Paisa Bana Powerful' promises more value for every rupee to its 65 million users. This festive season, users will get at least 5pc Supercash on every transaction on MobiKwik app and BSNL-MobiKwik app. Over 2 million merchants, pan-India are powered by MobiKwik for digital payments. Read Full Story

OM Jewellers Launches Designer Diamond Jewellery in Tie up with New York Based Designer Bibhu Mohapatra in Association with Forevermark
Mumbai : OM Jewellers has tied up with Bibhu Mohapatra (well- known designer from the New York who was the only Indian to design for Michelle Obama, wife of Barack Obama) and Forever diamonds (De Beers Group) to launch exclusive designer diamond jewellery products in Maharashtra. Read Full Story

VAT on petrol in Haryana already low: Abhimanyu Singh
New Delhi , Oct. 7 : Haryana Cabinet Minister Captain Abhimanyu Singh said that Value Added Tax (VAT) on petroleum products in the state is the lowest when compared to other states. Read Full Story

Google's Pixel 2 promotes safe driving through automatic 'do not disturb' mode
New York [USA], Oct. 7 : In a bid to promote safe driving among its user base, Google has introduced the 'do not disturb' feature on its flagship device Pixel 2, which can automatically detect whether a user is driving and activate the feature, if required. Read Full Story

64 lakh old taxpayers have migrated to GST: GSTN Chairman
New Delhi , Oct. 7 : Goods and Services Tax Network (GSTN) CEO Prakash Kumar on Saturday said over 64 lakh old taxpayers have migrated to the new taxation scheme, adding that returns from the month of July are still being filed. Read Full Story

MoS Finance assures difficulties will be addressed by GST council
New Delhi , Oct. 7 : Following the amendments that were made during the 22nd Meeting of the Goods and Services Tax (GST) Council on Friday, MoS Finance Shiv Pratap Shukla on Saturday said any further difficulties will surely be addressed in the coming days, adding that consumers and traders will receive the benefits entitled to them. Read Full Story

Four portals to ease loan application process
New Delhi , Oct. 7 : Lending procedures have been perceived to be a deity task. From documentation, signatures, and trips to banks, to waiting for the application approval; it all seems like an unending process. Read Full Story

Rubique features on India's top 10 fastest growing fintech companies
New Delhi , Oct. 7 : Fintech firm Rubique was recognized as India's top 10 fastest growing fintech companies of 2017 by IDC Financial Insights, alongside Capital Float, FreeCharge, and Paytm, among others. Read Full Story

Shardul Amarchand Mangaldas advises Zee Entertainment Enterprises Limited on acquisition of 9X Media
New Delhi , Oct. 7 : Shardul Amarchand Mangaldas and Co (SAM and Co) advised Zee Entertainment Enterprises Limited (ZEEL) on its acquisition of 100 percent stake in 9X Media Private Limited (and its subsidiaries) from New Silk Route Partners and other shareholders of 9X Media Private Limited. Read Full Story

Art across borders - India Bahrain art exchange initiative
New Delhi , Oct. 7 : Art Bahrain Across Borders, (ArtBAB), the Kingdom of Bahrain's premier contemporary art fair and curated artists program under the patronage of Her Royal Highness Princess Sabeeka Bint Ibrahim Al Khalifa, Wife of the King of Bahrain, is all set to debut in India with its artist programs to be held in New Delhi and Mumbai. Read Full Story

SAP Leonardo powers digital transformation of India Inc.
New Delhi , Oct. 7 : SAP SE announced the creation of a digital ecosystem with the SAP Leonardo portfolio exclusively for India. To fuel the trillion-dollar digital economy of India by 2025, SAP is collaborating with technology powerhouses to extend a holistic innovation system and initiatives across industries. Read Full Story

Funding required for airport infrastructure to counter growing air traffic: ICRA
New Delhi , Oct. 7 : Amid growing air traffic, India would need to treble its airports capacity (terminal building capacity) at an estimated capital expenditure (CapEx) of Rs. 2.4 lakh crore in the next ten years, much higher than around Rs. 52,000 crore incurred over the last decade, credit-rating body ICRA opined. Read Full Story

Framing of rules in respect of Country-by-Country reporting and furnishing of master file
New Delhi : In keeping with India's commitment to implement the recommendations of 2015 Final Report on Action 13, titled "Transfer Pricing Documentation and Country-by-Country Reporting", identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, Section 286 of the Income-tax Act, 1961 ('the Act') was inserted vide Finance Act, 2016, providing for furnishing of a Country-by-Country report in respect of an international group by its constituent or parent entity. Read Full Story

Recommendations made by the GST Council in its 22nd Meeting held in the national capital
New Delhi : The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley has recommended the following facilitative changes to ease the burden of compliance on small and medium businesses: Read Full Story

Relief Package for Exporters - Recommendations of the 22nd GST Council Meeting.
New Delhi : The GST Council under Chairmanship of Union Finance Minister Shri Arun Jaitley has in its 22nd Meeting held at Delhi today approved a major relief package for exporters. Read Full Story

Government of India receives vital information from 13 Banks regarding the bank account operations and post-demonetization transactions
New Delhi : In what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by the Government of India from 13 banks regarding the bank account operations and post-demonetization transactions of some of the 2,09,032 suspicious companies that had been struck off the Register of Companies earlier this year. Read Full Story

Stakeholders' consultation on exports with Minister for Commerce and Industry, Shri Suresh Prabhu
New Delhi : The Commerce and Industry Minister Shri Suresh Prabhu today held a Stakeholders' Consultation with leading Exporters, Export Promotion Councils, Associations and Local Chambers with a view to give a fillip to the export sector. The Minister for Textiles and Information and Broadcasting, Smt. Smriti Zubin Irani, and the Minister of State for Commerce and Industry, Shri C R Chaudhary, the Commerce Secretary, the Secretary, Department of Industrial Policy and Promotion and the DGFT also participated in the discussions. The consultation was jointly organized by the Ministry of Commerce and the FIEO. Read Full Story

CBDT signs two more APAs with taxpayers
New Delhi , Oct.7 : The Central Board of Direct Taxes (CBDT) has signed two more advance pricing agreements (APAs) with taxpayers as part of its aim to reduce litigation by providing certainty in transfer pricing. Read Full Story

Jewellery dealers happy over Centre's decision on PMLA act
Mumbai (Maharashtra) , October 7 : A member of India Bullion and Jewellers Association on Saturday showed satisfaction over the Centre's decision to rescind the notification on the Gems and Jewellery sector, stating that this measure has been taken on the account of pressure from the traders' community. Read Full Story

GST Council meet: Exporters get tax relief, e-wallet facility, composition scheme threshold hiked
New Delhi , October 6 : Exporters will get an e-wallet facility and a refund of taxes paid on inputs and shipments as the Goods and Services Tax (GST) Council on Friday eased rules to provide them relief on tax rates. Read Full Story

GST Council meet: Composition scheme threshold hiked, exporters get tax relief
New Delhi , October 6 : The Goods and Service Tax (GST) Council on Friday raised the composition scheme threshold for businesses to Rs. 1 crore, which will allow them to pay a tax of 1 per cent to 5 per cent, without having to deal with a three-stage filing process. Read Full Story

European Investment Bank to provide EUR 500 million for metro in Bengaluru
Bengaluru (Karnataka) , October 6 : The European Investment Bank (EIB) will provide EUR 500 million to support the construction of 18 new stations Rapid Transit line in Bengaluru and the purchase of 96 train cars for use on the line. Read Full Story

Govt. rolls back notification, putting gems, jewellery dealers out of PMLA
New Delhi , October 6 : The Government of India has decided to rescind the notification on the Gems and Jewellery sector, wherein the dealers in precious metals, precious stones and other high value goods were notified as person carrying on designated business and professions under the Prevention of Money-Laundering Act, 2002 (PMLA). Read Full Story

CBDT seeks suggestions on framing of rules on country-by-country reporting
New Delhi , Oct.6 : In keeping with India's commitment to implement recommendations of 2015 Final Report on Action 13, titled "Transfer Pricing Documentation and Country-by-Country Reporting", the Department of Income Tax has invited comments from stakeholders and the general public. Read Full Story

GST Council raises composition scheme threshold for firms
Amravati (Andhra Pradesh) , October 6 : The Goods and Service Tax (GST) Council at its 22nd meeting held in New Delhi at the Vigyan Bhawan on Friday reached a consensus on increasing the composition threshold on companies with a turnover of up to Rs. 1 crore, said Andhra Pradesh Finance Minister Y. Ramakrishnudu. Read Full Story

Rubique Paves its Way into India's Top 10 Fastest Growing Fintech Companies of 2017 by IDC Financial Insights
Mumbai : Rubique, India's leading fintech company continues to make a mark in its endeavour to demystify complex financing processes and empowering SMEs and individuals by making financial services easily accessible. Read Full Story

Intartic Rolls out Exclusive Offers on Rock and Rockspace Powerbanks on Flipkart Festive Dhamaka Days
New Delhi : Intartic, the licenced brand owners of the globally popular brands - Rock and Rockspace, have announced today exciting offers on their popular range of Powerbanks. Read Full Story

Frost and Sullivan's "2017 India Best Practices Awards Banquet" Lauds Indian Enterprises Demonstrating Pathbreaking Innovation and Break-through Projects across Sectors
Mumbai, Maharashtra, India : Frost and Sullivan concluded its 4th Annual 2017 India Best Practices Awards Banquet on October 5th at ITC Maratha, Mumbai. Read Full Story

Abode1st Group will Provide the Suitable Real-estate Market to the Investors
Gurugram : The laws made by Central government to make the business and real estate sector accountable to the market are going to have a positive impact on the country's market. Read Full Story

Dassault Systemes SIMULIA Regional User Meeting (RUM) India 2017 Focused on Offering Customers Multiscale-Multiphysics Simulation and Flexible Cloud Based Licensing
Bengaluru : Dassault Systemes (Euronext Paris: #13065, DSY.PA) concluded the 13th annual Regional User Meeting (RUM) for SIMULIA community in Bengaluru. Read Full Story

Drivezy Raises USD 10 Million from Investors across Three Continents
Bengaluru : Drivezy, a self-drive peer-to-peer car and bike sharing company, announced a USD 10M round of fresh investment. New and existing investors participated, including Das Capital, Axan Ventures, CrowdWorks and IT-Farm. Read Full Story

BAI Announces the Winners of the 2017 Global Innovation Awards
CHICAGO, United States : BAI announced the winners of the 2017 BAI Global Innovation Awards, a prestigious awards program that serves as a catalyst for positive change through innovation in the financial services industry worldwide. Winners were announced and celebrated at the BAI Global Innovation Awards Celebration during BAI Beacon in Atlanta on October 4. Read Full Story

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