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Paytm to Offer Rs 5 Lakh Insurance Cover to Merchant Partners

26Jun By NitishNo Comments

News

Paytm to Offer Rs 5 Lakh Insurance Cover to Merchant Partners

India’s largest digital wallet company Paytm will now start offering life insurance cover of up to Rs 5 lakh to its offline partners and their staffs. One97 Communications, the parent company of Paytm, said that this effort will help in giving a push towards realizing India’s vision of the digital economy. Paytm will offer life insurance cover through its newly formed entity Paytm Life Insurance Corporation Ltd, which was established in February this year. This newly formed entity will offer life insurance cover in partnership with the existing life insurance player. The name of this life insurance player has not been disclosed by Paytm. IRDA, the insurance regulatory body had granted Paytm the corporate license to sell insurance products in 2017. The license is reportedly valid only...

18Jun By Gauri SinghNo Comments

INDIA

The President Claims To Make India a $5 Trillion Economy By 2025

The Indian President, Ram Nath Kovind has stated that India is making its best possible efforts to become the world’s third-largest consumer market and an economy of $5 trillion by the year 2025. At present, the economy of India has been estimated at $2.5 trillion. Before announcing this, the President brought in light the investment opportunities in the country. The president arrived in India on Saturday from his visit to Greece on the first leg of his three-nation tour. Kovind is the first Indian president to travel to Greece in 11 years and thus while addressing the people of the country, he claimed that his visit is surely going to strengthen the relationship between India and Greece. Kovind gave a special mention to the overseas Indians that are playing a valuable role in improv...

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

7Jun By Lavina TolaniNo Comments

BUSINESS

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

Global Investment Company Temasek and Singapore's Ascendas-Singbridge are looking forward to investing Rs. 2000 crore in India's industrial real estate and logistics sector. It is interesting to note that Ascendas-Singbridge has launched an "Ascendas India Logistics Programme" which has Temasek as its principal investor. Speaking of the latest development, Ascendas said in its official statement, Temasek and Ascendas-Singbridge Group have jointly committed Rs 20 billion (approx Singapore dollar 400 million) to invest in logistics and industrial real estate in key locations in India. The investment strategy for the programme will be executed by "Ascendas-Firstspace" which is a platform established by Ascendas-Singbridge and Firstspace Realty in 2017. Interestingly, India's indust...

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

17Apr By Lavina TolaniNo Comments

Market

LIC Marks Record Breaking Profit Booking of Rs 25000 in FY18

Indian state-owned insurance and investment company, Life Corporation of India has booked record equity trading profits of Rs. 25,000 crore in 2017-18, much above Rs. 19,000 crores a year ago as informed by sources. LIC is known to adhere equity assets including mutual funds and shares worth Rs. 5 trillion (until the end of December) and profits approximately 5% of assets under management. Meanwhile, the company is working on its annual accounts, the same will be published in May. "The stock market has mostly been resilient in the past year and LIC has managed to get enough selling opportunities", reported a source on the promise of anonymity. Record-breaking profit from LIC is signaling a positive message if the insurer enhances its market exposure at the same time. This will ...

17Apr By Lavina TolaniNo Comments

INDIA

World Bank predicts 7.3% growth for India in 2018

The World Bank has predicted a growth rate of 7.3 percent for India for the current year and 7.5 percent for 2019 and 2020 and has observed that Indian economy has recovered from the effects of demonetization and Goods and Service Tax (GST). In its South Asia Economic Focus Meet held twice a year, World Bank said, Growth is expected to step up from 6.7 in 2017 to 7.3 percent in 2018 and will subsequently get stabilize supported by a sustained recovery in private investment and private consumption. In its report, it was also stated that India should now strive to advance investments and exports so that it can benefit from its recovery in global growth. Within the Indian section of the report, the bank also approved that disruptions from demonetization and implementation of GST creat...

Challenges For Saudi Arabia’s New Prince Mohammed Bin Salman

15Apr By Lavina TolaniNo Comments

MIDDLE EAST

Challenges For Saudi Arabia’s New Prince Mohammed Bin Salman

Since the times, King Salman Bin Abdulaziz has ascended the oil kingdom's throne, Saudi Arabia has been undergoing major political and economic changes which have brought the possibility to question if the new prince is here to stay for long? He is the first grandchild of the founder King, Abdulaziz Al Saud. Saudi Arabian Government has come forward with some prominent changes at the political front all with a motive to focus power and its various resources all in the hands of Crown Prince. Talking of political dimension, Mohammed Bin Salman was appointed the new defense minister right after his father was crowned Kingdom's Emperor. Prince Mutaib bin Abdulaziz too was knocked down from the post of National Guard leader handling the power to Mohammed Bin Salman. While, it is not po...

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

12Feb By RishabhNo Comments

BLOGS

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

In a recent interview, the World Bank Group President Jim Yong Kim compared Bitcoins to a "Ponzi Scheme" that once again triggered questions on the legitimacy of the world's most popular cryptocurrency. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes. It's still not really clear how it's going to work,” he said in an interview. The cryptocurrency, that has been soaring since 2017, has seen not so great start in this year and had reduced to one-third of its peak value nearly in just two months. The World Bank is looking closely at the blockchain technology and hopes that it could be used by developing countries to "follow the money more effectively" and regulate co...

8Nov By Press Trust of IndiaNo Comments

INDIA

India More Attracted To Biz Than WB Ranking Index Suggests

Observing that the recent increase in Indias ease of doing business ranking by the World Bank was long overdue, a top Indian American economist today said the country as a place for business is a lot more attractive than its ranking suggests. Investors usually go where the environment is the best and not where the World Bank collects its data, Arvind Panagariya, professor at the prestigious Columbia University, told PTI in an interview. "Our best investment destinations do significantly better than the latter," said the former vice chairman of NITI Aayog. "I have often said that India as a place to do business is a lot more attractive than the World Bank ranking suggests. This is because the bank collects its data in Delhi and Mumbai, not in the states with the best business environ...

2018 Will Be A Better Year For Indian IT: Report

23Oct By Press Trust of IndiaNo Comments

ANALYSIS

2018 Will Be A Better Year For Indian IT: Report

With the US economy doing well, Indian IT companies can look forward to a better year in 2018 on the back of growing tech spend and demand from clients, according to senior industry figures. Noting that the largest market for Indian IT companies is the US, former CFO of Infosys V Balakrishnan said their ability to grab growth opportunities is critical. "The US economy is doing extremely well. I think they are still growing 2-2.5 per cent, good growth for that economy," he told PTI. "If you look at the Gartner report, they talked about overall IT spend going up by 4-4.5 per cent this year. I think there is growth. The ability of the company to take on growth is critical. I think growth opportunities are there," added Balakrishnan. He said if the world's largest economy is doing well...

27Apr By Ankita SinghNo Comments

INDIA

Big Economy Boost- Indian PM Flags Off First Flight Under UDAN Scheme

Prime Minister Narendra Modi today inaugurated the maiden Shimla-New Delhi flight under a government scheme called UDAN or "Ude Desh Ka Aam Nagrik" to boost regional air connectivity. The flight is being operated by Alliance Air, a subsidiary of Air India. The airline has deployed its 42-seater ATR plane on this sector. The prime minister also simultaneously flagged off regional connectivity scheme (RCS) flights on the Kadapa, Hyderabad and Nanded-Hyderabad sectors through video- conferencing. With the RCS scheme, the government aims at connecting 45 unserved and under-served airports and make flying affordable by capping fares at Rs 2500 per seat/ hour. Five airlines were awarded 128 routes under the scheme last month after a bidding process. Under t...

6Mar By AnkitaNo Comments

INDIA

Indian Services Sector Returns to Growth After 3 Month Contraction

The services sector returned to the growth zone in February after three months of demonetisation- driven contraction but recovery was 'mild' and business confidence remained subdued, a monthly survey showed today. Besides, higher input costs forced companies to hike prices and the rising inflationary pressure may result in the Reserve Bank keeping away from any interest rate easing in the immediate future. The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector output on a monthly basis, stood at 50.3 in February, up from 48.7 registered in January. After slipping to a near three-year low last November, which was the first monthly drop in output since June 2015, the headline index edged has now edged back above the 50.0 mark, which separates expansion...

Crackdown on Immigration could affect Google’s Future Plans- Sundar Pichai

16Nov By AdityaNo Comments

Entrepreneurs Talk

Crackdown on Immigration could affect Google’s Future Plans- Sundar Pichai

Google's Indian-origin chief Sundar Pichai today said the global tech giant remains committed to Britain and will go ahead with a new one-billion-pound London headquarters that will create 3,000 jobs by 2020, but warned that post-Brexit crackdown on immigration could affect future plans. "Here in the UK, it's clear to me that computer science has a great future with the talent, educational institutions, and passion for innovation we see all around us," he told BBC during his first visit to the UK as Google's chief executive. "We are committed to the UK and excited to continue our investment in our new King's Cross campus," he said. Pichai's remarks will be a big boost to British economy after the June referendum in favour of the UK leaving the 28-member European Union. But Pichai did...