Business

Why Is The Central Government Relying On Small Investments For Funding?

The central government first announced a steep cut on the interest rates on small savings on the last day of the financial year 2020-21 and then reversed the order today morning citing “orders issued by oversight” as the reason.

What were the interest rate cuts introduced?

The Finance Minister took the entire world by surprise by announcing a reversal of the order of cutting interest rates to schemes including National Savings Certificates (NSC) and Public Provident Fund (PPF) that would have hurt the middle and the lower-middle class hardest had the government allowed their implementation.

The government announced a cut of up to 1.1% in interest rates in the first quarter of 2021-22. It would mean reduction of PPF interest from 7.1% to 6.4%; of NSC from 6.8% to 5.9%; of 5-year Senior Citizens Savings Scheme paid quarterly … Read the rest

Alaskan Helicopter Crash Brings The Debate On Heli-Skiing Back To Fore

A backcountry heli-skiing trip in an Airbus AS350 B3 helicopter cost one of Europe’s richest residents his life as the chopper met an accident on Saturday. He was Petr Kellner, 56, who was the Czech Republic’s richest person. Last year, Forbes listed him among the 70 richest people in the world.

How many were killed in the helicopter crash?

Those killed include Petr Kellner (56); Benjamin Larochaix (50) a Czech Republic citizen; heli-skiing guides Greg Harms (52), and Sean McManamy (38); and the helicopter pilot Zachary Russell (33).

The bodies of those killed have been recovered in a rescue effort. A sixth person was also found with the bodies. He was taken to the Anchorage area where he was being treated for his injuries. His condition was said to be stable.

Where did it happen and what were the causes of the accident?

National Transportation Board member Tom Chapman said that it happened in the Alaskan wilderness at around 6:30 pm local time when the helicopter was due back but was reported overdue by 8:30 pm. Soon a search effort was launched only to find … Read the rest

₹ 1 Crore Donated For Healthcare In Bihar And Jharkhand

Bihar Jharkhand Association of North America (BJANA) received a generous donation of over ₹ 1 crore for healthcare works for the needy, underprivileged and deprived community of Bihar and Jharkhand states.

Who is that Indian-American couple?

The couple is Ramesh and Kalpana Bhatia and they have Ramesh and Kalpana Bhatia Family Foundation for philanthropic work. Kalpana Bhatia runs a successful business in Texas, America. She came from NIT Patna. They used their foundation to donate the money to BJANA that will invest the money for healthcare development in Bihar and Jharkhand in two stages through Pravasi Alumni Nisshulk (PRAN) initiative.

What is Pravasi Alumni Nisshulk (PRAN)?

PRAN is an initiative by a group of Indian-American physicians determined to make healthcare services accessible to all underprivileged communities of Bihar and Jharkhand. PRAN-BJANA clinic initiative is the name given to the healthcare project that would start in the two states.

The first PRAN clinic has already been set in Ranchi and healthcare services started for the needy across the state. The doctors at the clinic are trying their best to provide quality healthcare to the underprivileged community.… Read the rest

Farmer Body Calls For Bharat Bandh From 6 AM To 6 PM On March 26, Finds Support In Andhra Pradesh

Call for Bharat Bandh by farmer unions on 26th March from 6 am to 6 pm got the support of YSR Congress Party (YSRCP) in Andhra Pradesh. The Samyukta Kisan Morcha (SKM), a front of protesting farmers, has called for a nationwide strike when their protest completes four months.

What will be closed during Bharat Bandh on 26th March?

According to a report, the SKM has called for a complete nationwide strike on 26th March and appealed to the nation to make this strike a success. They said that rail and road transport, markets and public places will remain closed from 6 am to 6 pm. A farmer leader Darshan Pal said that they appealed to the people of the country to make that Bharat Bandh a success and honor their Annadata”.

Why is Andhra Pradesh supporting the strike?

YSR Congress Party (YSRCP), the ruling party in Andhra Pradesh, has expressed its solidarity with the protesting farmers. On March 26, YSRCP is also observing a strike to protest against privatization of the Visakhapatnam Steel Plant (VSP) by the center.

Andhra Pradesh I&PR Minister Perni Venkatramaiah … Read the rest

What Tatas are Buying From BigBasket?

Tata Sons Pvt. Ltd is going to invest in BigBasket, the largest online grocery store of India, in a deal valued over $1 billion. Tata Sons Pvt. Ltd. has already filed the deal to Competition Commission of India (CCI) for approval.

What is the deal between Tata and BigBasket?

The deal is between Tata Digital Ltd, digital services subsidiary of Tata Sons, and Supermarket Grocery Supplies Pvt. Ltd (SGS). Tata has revealed its interest in buying 64.3% stake in SGS that deals with the commercial service branch through business.bigbasket.com. The deal will allow SGS to manage Innovative Retail Concepts Pvt. Ltd (IRC) that controls the retail side of the business through bigbasket.com.

Together SGS and Innovative Retail Concepts Pvt. Ltd deal in household items, personal and beauty care products, food, and grocery items through the BigBasket app.

What is the size of the deal?

According to inside sources, Tata is investing around $1 billion for buying 64.3% stake but they can infuse more capital to increase their stake within one year. Tata is interested in increasing its holding up to 80% or even bigger.

What Read the rest

RIL Is The Top Share Today

A handful of stocks to watch on Thursday. Investors can consider the offer of buying 0.82 million standard cubic meters per day of gas by Reliance Industries Ltd. Produced at Sohagpur coal-bed methane block (west) in Madhya Pradesh, the gas is available at a minimum $6 cost at the present price of oil.

Look for more stock options

stock market

Indiabulls Real Estate: The merger of NAM Estates Pvt Ltd and Embassy One Commercial Property Developments Pvt Ltd into Indiabulls Real Estate Ltd (IBREL) has been approved by the Competition Commission of India (CCI).

Prime Focus: Unhappy over the price of open offer by Prime Focus promoters, its shareholders that include Reliance Media Works Financial Services have moved the Securities Appellate Tribunal (SAT) to solve the dispute.

Affle India: Affle Holdings Pte Ltd sold 3 lakh shares worth over ₹161 crore under an open market transaction.

Affle India stock

Nureca: The company is making its debut after getting a huge response on Wednesday. Nureca Limited was subscribed 39.93 times on the last day of subscription.

lndo Rama Synthetics (India) Ltd: The company directors are mulling over an expansion … Read the rest