Category Archives: Business

Mumbai banker becomes a billionaire by managing wealth of India’s new rich

Nirmal Jain has hit the jackpot serving the new rich in the world’s fastest-growing major economy.

The Mumbai banker’s $20 billion private-wealth-management unit became India’s biggest by assets and helped make him a billionaire.

The nation’s demographics are a driving force, as well as Prime Minister Narendra Modi’s efforts to withdraw India’s biggest bills from circulation, which has pushed savings into the financial system. India’s young and thriving workforce will support its growth for years to come, Jain, 51, said in a phone interview, pointing out that millennials account for about a third of the country’s population and most of the income. Continue reading

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Now more benefits for Airtel postpaid users- Plans Revised Today @399-20gb data

Are you a Airtel postpaid User ??

Now you can get more data, unlimited calls and lots of more benefits .

From Today onward you can get double of your current data.

Airtel revised its plans on 05 feb. 2018.

Now you can get 20 gb with unlimited calling in just rs. 399/- .

In plans of 499/- onward, you can get unlimited outgoing Roaming  with Amazon Prime membership .  Continue reading

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How to make businesses GST compliant?

The Goods and Services Tax is a fundamental revolution in the way we think about indirect taxes in India. It has created a single market, helping move goods seamlessly across state borders. The GST system has enrolled close to 10 million businesses onto a single national technology backbone, the GSTN, and already collected over Rs 3 lakh crores in taxes in less than six months. GST was welcomed because it aimed at creating an incentive for compliance, rather than punishment for non-compliance.

The basic driver of the GST is the Input Tax Credit (ITC). The tax paid by your suppliers, should be subtracted from the tax you pay to the government. The ITC is not a small deal. Without ITC, the tax you have paid becomes a cost. This tax can often be higher than the profit margin of the business. The market encourages Continue reading

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5,000 hectares, four runways: Jewar airport touted to be biggest in India

The government expects the Jewar airport to be operational in the next five to six years and cater to 30-50 million passengers per year over the next 10-15 years.

Spread over 5,000 hectares with four runways, the proposed International airport at Jewar will be ‘India’s biggest’, the Yamuna Expressway Industrial Development Authority (YEIDA), the nodal agency for the project, said.

Delhi’s Indira Gandhi International airport is spread over an area of 2,066 hectares. The IGI airport is projected to reach its full capacity by 2023-24. The Delhi airport currently handles 60 million passengers per annum, which is likely to be doubled by 2023.

On Tuesday, Union civil aviation secretary Rajeev Nayan Choubey reviewed the ambitious project at the office of Yamuna expressway industrial development authority (YEIDA), the nodal agency for the project.

Choubey, along with members and aviation experts from Continue reading

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ONGC agrees to buy 51% HPCL stake

Giving a big boost to the government’s disinvestment programme, oil giant ONGC has finally entered into an agreement to buy a majority stake in HPCL, adding Rs 36,915 crore to Arun Jaitley’s kitty for this financial year itself. ONGC has entered into a share purchase agreement for acquiring the government’s entire 51.11% stake of HPCL on 20th January 2018 at a cash purchase consideration of RS 473.97 per share with a total acquisition cost of Rs 36,915 crore, the state-run exploration and production company said in a statement. The parties expect to complete the transaction before Continue reading

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Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin

Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin. With Mukesh Ambani’s elder son Akash Ambani leading the project, the company plans to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics.

“The company plans to hire 50 professionals with average age of 25 years. There are multiple applications of blockchain (for the company). The team would work on various blockchain products,” a person familiar with the development said. Blockchain is a digital ledger for storing data but not limited to Continue reading

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