FE Bureau

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First post-Covid physical fair may catalyse $1-bn biz

The Trade Promotion Council of India (TPCI), which is backed by the commerce ministry, has said it will organise the fourth edition of "IndusFood", in which over 400 large Indian exporters of food and beverages products will

Testbook partners with IITs & other

Edtech platform Testbook.com ha signed an MoU with three IITs—IIT Madras IIT Ropar,and IIT Gandhinagar to impart professional skills training.


Oil prices nearing pre-pandemic levels

Oil prices have been on a rise due to restrained U.S. oil production and deployment of vaccination drives across economies, among other factors.

Brent Crude oil price breached the $60/bbl mark after 13 months in February.

Covid-19 vaccination India update: TVS Motor to provide free jabs to staff, family

In the initial phase, the vaccine will be made available to employees and their families above 60 and 45 years of age or suffering from certain medical conditions.

With this vaccination drive, we continue our endeavour to prioritise the health and safety of all our employees and their families.”

Consumer Friendly: Fresh spectrum purchase to further delay tariff hike

Reliance Jio and Bharti Airtel to focus on market share gains first, increasing pain for Vodafone Idea

As it is Bharti's tariffs are around 15-20% higher than Jio's and it has stated in the past that it would only raise tariffs if Jio does it first.

New retail rules: E-commerce shifting to interactive commerce

Commerce and payment platforms are already introducing content in their quest for higher engagement.

A prominent example is Flipkart, analysts point out, which is launching ideas, videos and games.

IFSC codes of e-Andhra, e-Corporation Bank branches changed

IT integration of both the banks has been completed without changing the account number of customers but IFSC codes have been changed.

The customers of erstwhile e-Andhra and of e-Corporation Bank will enjoy the same account number without any change thus facilitating smooth transactions in the branches.

Detel plans to raise Rs 150 crore by end-2021

The Ev startup company is also working on a 100% locally manufactured vehicle. It should be ready in the next six months.

Detel B2C electric scooter

Dual front airbags must in all new models of vehicles from April 1

All automakers in India will need to offer dual-front airbags as standard across their model range in the Indian market as the government is cracking down on trying to reduce the fatalities in road accidents in the country.

Offensive content: OTT regulation lacks teeth, make new law, SC tells Centre

The apex court's remarks and direction came while granting protection from arrest to Amazon Prime Video's India head Aparna Purohit in the ongoing probe against the web series 'Tandav'

A perusal of the Rules indicate that the Rules are more and more in the form of guidelines.

FM-speak: GST Council will decide on oil-in-GST

The Centre is seen to earn an extra Rs 1.87 lakh crore in FY21 from the Rs 13-16/litre additional cess and surcharges imposed on auto fuels in March/May 2020.

The minister also said she wished to implement the maximum of FY22 Budget proposals in Q1 itself.

PLI plan: India Inc tells PM it needs more action

PM Modi promises to do away with 6,000 compliances and to reduce logistics costs, among others

Addressing industry leaders from the beneficiary-sectors through a webinar, the Prime Minister promised to reduce the burden of India Inc drastically by doing away with as many as 6,000 compliance requirements, further improve ease of doing business and create multi-modal infrastructure to trim logistics costs.

ICICI Bank drops home loan rate to 6.7%

As at most banks, home loan interest rates at ICICI Bank vary on the basis of various parameters such as bureau scores, profile of customers and customer segments, among others.

or loans above Rs 75 lakh, ICICI Bank is charging a rate of 6.75% or more. Much like SBI, ICICI Bank too is offering the revised rates till March 31.

Govt to tread cautiously in allowing nano-zinc and nano-copper crop nutrients

The commercial use of nano-urea was allowed in November last year that may help improve crops yield by 18-35%.

crop nutrients

Indian Bank to divest ASREC stake

Apart from Indian Bank, LIC of India, Bank of India, Union Bank of India and Deutsche Bank are the other shareholders in the company.

The bank holds a 38.26% stake in ASREC (India) and the decision to divest stake is part of monetisation of the bank's non- core assets.

CSB Bank eyeing 20-22% growth in current fiscal

The Thrissur-based lender reported an 89 % y-o-y increase in its third quarter net profit to Rs 53.05 crore on higher interest and treasury income.

“We are seeing good enquires from the SME and mid-size corporates. Retail demand is also back.Demand is good in the agro-processing and auto ancillary sector,” he added.

Concor forays into container manufacturing to lessen reliance on China imports

“Our annual requirement will be around 8,000 containers for the next five years. We are going to float an open tender, inviting domestic manufacturers for this," said V Kalyana Rama, CMD, Concor.

To keep at bay Chinese advantage in the Indian container market and give a push to the Atmanirbhar Bharat initiative, Concor will float an open tender to meet the requirement of 6,000 more containers.

a-iTrust to buy industrial park leased by iPhone maker Pegatron

Construction of the project is expected to be completed by mid-2021. The project is fully pre-committed to Pegatron, with a 7-year lock-in period and annual escalations.

Pursuant to the deal structure, a-iTrust will provide funding towards the development of the project. (Website image)

FinMin report: Economic activity in FY21 to beat estimate

The positive GDP growth (0.4%) in the third quarter of FY 21, for the first time since the onset of the Covid-19 pandemic, adds to the positive sentiment, it said.

The report said since GDP contraction has been distorted in FY21 on account of significant growth of subsidies, the change in GVA is a more appropriate measure to follow in the current fiscal.

TVS Srichakra launches 11 tyres for replacement mkt

The new product line-up includes eight high-performance tyres for motorcycles, two for scooters and one new tyre for e-rickshaw.

ArcelorMittal plans new steel unit in Odisha, to invest Rs 50,000 crore

In February, AM/NS India bagged an iron ore mine with estimated reserves of 180 million tonne in Odisha through competitive bidding. The company also has plans to expand the finished steelmaking capacity at Hazira to 12-15 mt

This was the country’s largest stressed-asset deal and marked ArcelorMittal’s entry into India’s potentially fast-growing steel industry.

FDI equity inflows rise 40% to $51.5 billion during April-December 2020

Inflows were boosted by those into the digital sector. Analysts have pointed out that a sizable chunk of these was drawn by Reliance Jio alone.

The FDI inflows take place at a time when domestic private investments have remained elusive in recent years.

Chinese firm setting up metro coach plant in Andhra Pradesh, to invest Rs 350 crore

The plant, for which the ground breaking ceremony was held recently, will be built on a plot of 45.3 acre and will be commissioned by the year-end.

With the upcoming Chinese company’s unit, Sri City will be home to two major metro rolling-stock manufacturing units, such as Alstom and CRRC which will be supplying 70 to 80% of the requirements of metro projects in the country. (Representative image)

RPower-JERA JV achieves financial closure for Bangladesh project

“All requisite conditiins for availing the drawdown under the loan agreements have been satisfied,” RPower said in a statement.

RPower had earlier synchronised two units of the Rs 10,000 crore or 2400 MW project in Samalkot .

Wholesale onion prices crash by nearly 50% on higher supplies

Farmers and traders apprehend that prices are likely to drop further with the arrivals of the summer crop by the second week of March.

Prices were around Rs 4,000 per quintal just a week ago, Suvarna Jagtap, chairperson, Lasalgaon Agriculture Produce Market Committee, said.

RailTel launches paid plans for Wi-Fi at 4,000 stations

RailTel has started prepaid plans for using its Railwire Wi-Fi facility, which offers 30 minutes of free Wi-Fi per day at 1 mbps speed and a nominal fee for availing a higher speed of up to 34 mbps.

This can be paid online through net banking, wallet and credit card. Currently, internet service is available at 5,950 plus stations across the country and is accessible to anyone with a smartphone and an active connection.

Govt launches drive to ensure FPO scheme’s success

The Cabinet in February 2020 had approved the Rs 6,865-crore scheme to be spent for setting up of 10,000 new FPOs and ensuring their growth by FY28.

While budgetary support of Rs 4,496 crore will be spent by FY24, an additional Rs 2,369 crore has been estimated for hand-holding of these FPOs until FY28.
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