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Business Updates

97.26% of Rs 2,000 notes returned to RBI since withdrawal, Rs 9,760 crore still in circulation

September 14, 2020By businessreputationdata

The facility for exchange of the Rs 2,000 banknotes was available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices) from May 19.

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Business Updates

South Korea’s SK Hynix looking to set up chip packaging plant in India

September 14, 2020By businessreputationdata

India achieved the target of 10 per cent ethanol blending in petrol in June last year, months ahead of the targeted timeline of November 2022.

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Business Updates

As US, China red flag laptop import measure, India to take ‘security’ line

September 13, 2020By businessreputationdata

“The WTO is not a forum to discuss security issues, and our plans around checking the imports of laptops and personal computers is primarily coming from a safety and security perspective. We will explain that in the next meeting,” a senior government official said, requesting anonymity.

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Business Updates

Equity benchmarks’ record run continues; Nifty nears 21,000 points

September 12, 2020By businessreputationdata

In Asian markets, Hang Seng and Nikkei 225 traded higher by 0.54 per cent and 1.72 per cent, respectively, while China’s Shanghai Composite was not trading.

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Business Updates

Gold stays near 1-month lows as US dollar, yields hold ground

September 10, 2020By businessreputationdata

Gold prices held near one-month lows on Friday, shrugging off cooler-than-expected US inflation figures for last month, with bullion staying on course to wrap up its worst week in seven.

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Business Updates

Nestle India Q2 net profit jumps 36.8% to Rs 698.34 crore, net sales up 15% to Rs 4,619.50 crore

September 10, 2020By businessreputationdata

HDFC Bank, India’s largest private lender, saw its employee turnover rate over the last year rise to 34%, while Axis Bank was at nearly 35%. Kotak Mahindra Bank’s attrition surged to about 50%, with smaller peer Yes Bank in toe at 43%.

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Business Updates

FM Nirmala Sitharaman asks financial entities to ensure customers nominate heirs

September 8, 2020By businessreputationdata

Nirmala Sitharaman asked banks and financial institutions to ensure that their customers nominate heirs, which can help reduce the quantum of unclaimed money.

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Business Updates

GST Council meet: Opposition states raise concerns over inclusion of GSTN under PMLA

September 7, 2020By businessreputationdata

The fraud was first identified in May this year after an individual complained with the Noida police about identity theft and fake GST registrations in his name.

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Business Updates

Qatar’s sovereign wealth fund to buy around 1% stake in Reliance Retail for Rs 8,199 crore

September 6, 2020By businessreputationdata

Cement company Shree Cement Ltd reported a bigger-than-expected 84% rise in first-quarter profit on Wednesday, helped by robust domestic demand.

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Business Updates

Sebi to act against 3 i-bankers found inflating IPO subscriptions: Chairperson Buch

September 6, 2020By businessreputationdata

Buch said the Sebi also has data and evidence on “mule accounts”, wherein the credentials of an innocent person are used to typically front-run on stocks by those wanting to not leave a trace of trades.

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