Mumbai, Apr 1 (PTI) Virtual cars showroom platform CarzSo on Friday it has closed deals for more than 500 pre-owned cars in the fiscal ended March 2022, garnering a revenue of Rs 10 crore. The platform, which re-launched its VR-based cars showroom in January this year, offers its customers a wide range of pre-owned cars [...]
New Delhi, Apr 1 (PTI) About 2,349 Farmer Producers Organisations (FPOs) have been formed in the last two years under a central scheme launched in 2020, Agriculture Minister Narendra Singh Tomar said in Rajya Sabha on Friday. The government is implementing a new central scheme "Formation and Promotion of 10,000 FPOs" under which FPOs formed [...]
New Delhi, Apr 1 (PTI) The finance ministry has asked other ministries and departments not to issue 'Letter of Comfort' to any hired entity for undertaking projects on their behalf, as part of efforts to improve transparency in fiscal management. Issuance of 'Letter of Comfort' by the ministries and department helps a vendor in achieving [...]
Mumbai, Apr 1 (PTI) Belstar Microfinance Limited (BML), a subsidiary of Muthoot Finance Ltd, on Friday said it has raised equity capital of Rs 275 crore from a new investor Affirma Capital and others. Existing investors Muthoot Finance and Maj Invest also participated in the latest funding round. The funding will help the microfinance player [...]
New Delhi, Apr 1 (PTI) There is no proposal under consideration of the government to go for fresh public consultation or to take back the IT Rules 2021, Parliament was informed on Friday.With a view to ensure an open, safe and trusted Internet for users and in tune with the changing requirements, the Ministry of [...]
Mumbai, Apr 1 (PTI) Corporate India's credit quality showed a sharp improvement in the second half of FY22, but high input prices and withdrawal of pandemic-related relief measures can pose pressures in the new year, rating agencies said on Friday. Crisil Ratings, which rates a large number of financial sector entities, reported an improvement in [...]
Chennai, Apr 1 (PTI): Digital transformation and cloud solutions company Novac Technology Solutions on Friday said it forayed into the Metaverse platform by conducting the Rewards and Recognition Programme ceremony. Building a multi-user virtual environment with real-time communication, the company's hybrid model aims to bring together the 'work from home' and 'work from office' employees [...]
Ahmedabad, Apr 1 (PTI) The report of the Comptroller and Auditor General of India tabled in the Gujarat Assembly has pointed out that the state government needs to formulate a "well thought out" debt repayment strategy to avoid falling into a debt trap. The 'State Finances Audit Report of the CAG for the year ended [...]
New Delhi, Apr 1 (PTI) The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production.On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month.Toyota Kirloskar Motor said its dispatches in March were [...]
New Delhi, Apr 1 (PTI) The government has exempted tour operators from collecting taxes from non-resident Indians visiting India and booking their overseas tour package from the country. Currently, domestic tour operators are required to collect 5 per cent tax collected at source (TCS) on sale of overseas tour packages. The Income Tax Act provides [...]
New Delhi, Apr 1 (PTI) The government on Friday said there is no proposal under consideration to revise the subsidy sharing pattern between the Centre and states under the Pradhan Mantri Fasal Bima Yojana. PMFBY (Pradhan Mantri Fasal Bima Yojana), launched in February 2016, aims at providing financial support to farmers facing crop loss/damage due [...]
New Delhi, Apr 1 (PTI) The National Security Council Secretariat (NSCS) has formulated a draft National Cyber Security Strategy 2021 that comprehensively looks at addressing the national cyberspace security issues, the Parliament was informed on Friday. The government is fully cognizant and aware of the various cyber security threats, and has taken a number of [...]
New Delhi, Apr 1 (PTI) Asian Paints Ltd on Friday said it will acquire stake in two companies -- White Teak and Weatherseal Fenestration -- in a move to strengthen its presence in the fast-growing home improvement and décor segment. Asian paints will acquire 100 per cent of Obgenix Software, popularly known by the brand [...]
New Delhi, Apr 1 (PTI) State-owned Coal India Limited (CIL) on Friday reported a record coal production in FY22 at 622.6 million tonnes, registering an annual growth of 4.4 per cent. In 2020-21, coal production stood at 595.2 million tonnes (MT). Coal supplies to power generation companies during FY22 also touched a record of 540.4 [...]
Coimbatore, Apr 1 (PTI) Tanishq, noted jewellery brand from the diversified conglomerate Tata Group, has drawn up plans to set up nearly 45-50 new stores during the current financial year which include seven in Tamil Nadu, a company official said on Friday. With customers moving to organised jewellery shops, the company was making huge investment [...]
Tata Motors on Friday said its total domestic sales increased by 30 per cent to 86,718 units in March as compared to 66,462 units in the year-ago period. The company said its passenger vehicle wholesales rose by 43 per cent to 42,293 units last month as against 29,654 units in March 2021. Its commercial vehicle [...]
Mumbai, Apr 1 (PTI) Rajasthan-based Kogta Financial, an NBFC focused on vehicle and MSME lending, on Friday said it has raised Rs 846 crore in a funding round led by Multiples Private Equity and Canada Pension Plan Investment Board. Kogta's existing investors Morgan Stanley Private Equity Asia and Creador IV also participated in the latest [...]
Mumbai, Apr 1 (PTI) Hinduja Group flagship Ashok Leyland on Friday reported a 17 per cent year-on-year growth in its total vehicle sales, including exports, at 20,123 units in March. The company had sold a total of 17,231 vehicles in March 2021, Ashok Leyland said in a statement. Total Medium and heavy commercial vehicle (M&HCV) [...]
