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NDTV stock up 76% in four days, company says no clue why Shares of New Delhi Television Ltd spiked another 10% today to Rs 62.40, prompting the BSE to write to the company to seek clarification on any undisclosed development.With this, the total gain in NDTV shares in the last four days is 76%.The company, however, said it was...
Maruti Suzuki to rebrand its car showroom network in India After introducing a separate showroom network for its higher-end cars by the name of NEXA, India's largest carmaker Maruti Suzuki said it will not overhaul, transform and rebrand its remaining car showrooms in the country.The Company targets to set up over 80 showrooms under ...
UPDATE: 99% of demonetized currency returned to govt Eight months on, the Reserve Bank of India is yet to finish verifying and counting the 500- and 1000-rupee notes surrendered by the public between Nov 8 and Dec 30, 2016, the finance ministry said in a statement on Aug 11.UPDATE: About ten days after this article was publishe...
Demonetization took India forward by 3 years – SBI The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large ...
SpiceJet enters offline retail, offers free tickets to Goa, Bangkok Airline SpiceJet said it has opened its first physical store under its new ‘SpiceStyle’ retail brand at Galleria Mall in Gurgaon, near Delhi.The launch of its first physical store marks SpiceStyle’s entry into the offline segment besides its ecommerce portal and a brand sto...
SpiceJet enters e-commerce business with Amazon SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named 'SpiceStyle!' and also tied up with online giant Amazon.SpiceStyle.com mostly offers fashion itemsProducts from the company will be available vi...
Honda Motorcycle to open 53 second-hand shops in India this year Encouraged by a strong response, Honda Motorcycle & Scooter India said today it was advancing its roll-out target for its 'Best Deal' second-hand motorcycle chain in India.The company said it would add another 50 such pre-owned motorcycle shops in India in the remaining nine...
V2 Retail sees organized sector share tripling to 24% in three years V2 Retail, formerly known as Vishal Retail, said it expects organized retail in India to grow a strong pace in the next three years to increase its share of the overall market to 24% by 2020.At present, the share of organized retail -- mostly super markets and hyper markets,...
Pantel’s Vijender Singh buys Den Snapdeal home shopping channel Den Networks said it sold its home shopping channel to Pimex Broadcast Private Limited based in Noida.Den entered the business under a joint venture with Jasper Infotech, the holding company of e-commerce firm Snapdeal.com, two years ago."The name of DEN and Snap deal wi...
Demonetization hits real estate builder prices, but not resale flats – report Demonetization of 500- and 1000-rupee notes hurt the real estate sector in North India, while its impact on the sector in South India was negligible, according to Magicbricks’ PropIndex for Jan-March 2017.The report, brought out by the eponymous real estate classifieds site, ...
Indian Railways ticket refunds delayed due to demonetization rush Many people who booked railway tickets worth thousands of rupees during demonetization period and cancelled these tickets for refunds are yet to get their money back.According to Indian Railway sources, many of these people could end up waiting for 90 days or more to get thei...
SBI biggest beneficiary of demonetization, HDFC Bank close behind State Bank of India and HDFC Bank were the most successful in attracting and retaining deposits in the wake of demonetization of currency, according to an analysis of their deposits growth so far this financial year.The highest growth was reported by State Bank of India, wh...
Only 50% have responded to Operation Clean Money queries A flyer for Operation Clean MoneyThe number of people who have given their responses under the government's 'Operation Clean Money' has reached 8.38 lakh as of Mar 9, slightly less than half the 17.92 lakh people to whom questions have been sent.The questions were sent i...
Mining baron Sekhar Reddy arrested after Income Tax raids Sand miner Shekar Reddy has been arrested, two weeks after the seizure of crores of rupees and gold in an income tax raid. The arrest has come hours after Income Tax officials conducted a raid on Tamil Nadu's top bureaucrat chief secretary P Rama Mohana Rao at his home.It was...
Demonetization: RBI removes ‘explanation’ requirement for KYC accounts The Reserve Bank of India has responded to widespread criticism of its directive to collect 'explanations' from those depositing more than Rs 5000 by clarifying that this directive will not apply to bank accounts with proper documentation."On a review of the above, we advise ...
Demonetization: Modi announces bumper prizes; 15 lakh users to get 1,000 rupees Narendra Modi announced several 'prize schemes' to promote cashless transactions.Under the schemes announced today, there will be two sets of prizes for consumers and another for small merchants.Under the first scheme, any customer who uses any electronic form of payment,...
Demonetizaton: Govt places limits on last minute deposits The Reserve Bank of India said that any person who continues to hold old notes of 500 and 1000 rupees in bulk will get only one more chance to deposit them into bank accounts and will also have to provide an explanation for the delayed deposit."Tenders of SBNs in excess of ₹ ...
Demonetization: Swaraj India says political parties could become money laundering centers Swaraj India party today said the Income Tax department's decision to continue to provide immunity to political parties from having to reveal their sources could turn them into money laundering centers.According to Section 13(A) of the Income Tax Act, 1961, if you have regist...
Will OnePlus 3 from Flipkart get warranty support from manufacturer? OnePlus 3, arguably the most successful premium phone of 2016 in India, may not get warranty support from the manufacturer if purchased from Flipkart, going by a statement by the company.The company issued a statement that seemed to suggest that Flipkart's sale of the mod...
DEMONETIZATION: Wholesale Price Inflation falls to 3.15% in November The annual rate of inflation, based on monthly WPI, stood at 3.15% for the month of November, 2016 as compared to 3.39% for the previous month and -2.04% during the corresponding month of the previous year.The fall is largely expected due to the impact of the withdrawal of h...
Domino’s Pizza starts cashless facility for phone orders Domino's Pizza has started cashless payment facility for those who order by phone as well."Post demonetization, we have seen many customers choosing to order online. Consumers coming to our restaurants to dine in or carry out are able to pay With Credit caras or Wassets. Howe...
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 s...
Petrol Pumps, Airlines Will Not Take Old Notes From Saturday | DEMONETIZATION Old notes will no longer be accepted at petrol pumps and airline ticket counters starting from Saturday, according to sources.So far, petrol pumps and airlines had been given an exemption from demonetization of 500 and 1000 rupee notes.However, in an effort to control...
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 the...
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 ot...