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Air India said, first pay the arrears and then get tickets

Government airline Air India is burdened with heavy debt on one side and on the other hand many government departments are sitting on crores of rupees. Air India, which has been facing a shortage of funds, has now said no to passengers on borrowed tickets. The company has stopped issuing tickets to officials of government agencies which owe more than Rs 10 lakh. An airline source said, various government agencies have borrowed tickets worth Rs 268 crore from Air India and the amount is outstanding. Air India has taken such a step for the first time in decades of history.

The company has stopped issuing tickets to officials of government agencies which owe more than Rs 10 lakh.

Air India said, first pay the arrears and then get tickets
Air India said, first pay the arrears and then get tickets

The company has made a list of government defaulters and their dues, which include the names of CBI, IB, ED, Custom Commissioners, Central Labor Institute, Indian Audit Board, Controller of Defense Accounts and Border Security Force. AI is the first priority for half-yearly visits for the government and its agencies. However, unfortunately these government officials do not show activeness in the matter of payment.In the last few weeks, more than 10 lakh defaulters have been placed on cash and carry, said an airline official. They are being given tickets only after payment. The Airport Authority of India, the Civil Aviation Ministry and the Lok Sabha have been exempted from this.

Sensex rises 1600 points, income tax will be 22 percent

There has been a huge surge in Indian stock markets with the announcement of exemption in corporate tax on domestic companies by Finance Minister Nirmala Sitharaman. During the trading, the Sensex rose 1601 points to 37,695.74 and the Nifty climbed 363.75 points to 11,068.55. To promote growth, the finance minister has reduced the corporate tax rate to 22 per cent for new domestic companies, unless corporate have taken any incentive or exemption. The stock market has blossomed with the announcement of the finance minister. The market is as bright as Diwali and almost all major sectors are seeing a boom. To increase growth and investment, changes in income tax act will be applicable from the current financial year i.e. 2019-20. The income tax on domestic companies will be 22 percent without any exemption and the effective rate will be 25.17 percent by adding surcharge and cess. Earlier this rate was 30 percent. The Finance Minister said that with the reduction of corporate tax and other concessions, the exchequer will incur a burden of Rs 1.45 lakh crore.

exemption in corporate tax on domestic companies by Finance Minister Nirmala Sitharaman.

To give a boost to Make in India, they added a clause in the Income Tax Act. In FY 2019-20, a domestic company formed after October 1, which will invest in manufacturing, will have the option to pay income tax at the rate of 15 per cent. That is, any company formed in India on or after 1 October 2019 will be taxed at 15%. If they start production before 31 March 2023, then 15 per cent will be taxed. There will be 17.10 percent effective rate including all types of surcharge and cess. Companies that announce a buyback of shares before 5 July 2019 will not face super rich tax. To increase the flow of funds in the capital market, the Finance Minister said that the surcharge raised in the budget in July will not be effective on the sale of shares in the company and capital gains from equity fund unit sales.

Promotion to those who smoke with the boss at the workplace

If a male goes on a cigarette break at the workplace, he often gains compared to women. We are saying this because according to research released by the National Bureau of Economic Research, if your manager is a male and he smokes, then the male employees who share the habit of smoking with the boss are quicker than those There is a possibility of promotion who do not smoke.

If a male goes on a cigarette break at the workplace, he often gains compared to women.

Promotion to those who smoke with boss
Promotion to those who smoke with boss

Men get benefits if they are male managers
This result is part of a larger study that revealed that if the managers of male employees are male, then they get the benefit while the rate of promotion for women is the same and there is a difference on the promotion of women. It does not matter whether their manager is a male or a female.

Men get better promotions
The research was carried out by Joe Cullen of Harvard Business School and Ricardo Perez of UCLA Anderson School of Management. In this study, earlier research was also tracked in which it was found that male sponsors work better with men than other groups and due to this their promotion is also better. In another study, it was said that people like to support dependents who are like them. Because of this, men get more benefits than women. This is also because the number of women in the executive rank is extremely low.

Open market with decline Sensex at 41,500 and Nifty at 12,240 level

The Sensex and Nifty started trading flat on Thursday’s trading day due to poor signals from global markets. Along with the big stocks, the move of mid and smallcap stocks also looks sluggish. BSE Midcap index is trading at 0.10% and Smallcap index is trading at 0.01%. Oil-gas stocks are also under pressure today. The BSE oil and gas index is trading at a weakness of 0.18 per cent.

The Sensex and Nifty started trading flat on Thursday’s trading day due to poor signals from global markets.

Open market with decline Sensex at 41,500 and Nifty at 12,240 level
Open market with decline Sensex at 41,500 and Nifty at 12,240 level

Auto, banking, metal and realty stocks are under pressure in the market today. While IT FMCG and pharma stocks are showing some buying. Bank Nifty is seen below 32,200 with a weakness of 0.14%.The 30-share BSE Sensex is trading below 41,510 with a weakness of around 50 points. On the other hand, NSE Nifty, the 50-share major index of NSE, is trading around 12,200 with a weakness of around 15 points.

Kanpur-based diamond trader Uday Desai dips Rs 3635 crore

At present, there are similar NPAs in their 14 banks.

uday desai kanpur

Kanpur-based diamond businessman Uday Desai has sunk Rs 3635 crore from 14 banks. In these banks, more than a dozen accounts of their half-dozen companies have become NPAs. This is the second-biggest case of bank money after Pen King Vikram Kothari. Several companies took loans of more than three thousand crore rupees between 2002 and 2010, including Uday Desai’s companies M / s Frost International Limited and Frost Infrastructure and Energy Limited. After years of running loan installments and increasing the limit continuously, their accounts started getting NPA in the year 2018. At present, there are similar NPAs in their 14 banks. Even after issuing demand notices continuously, banks did not get the loan amount returned from their companies. Now Bank of India has taken over properties in Mumbai, Kanpur and Gurgaon. Many properties are still in a condition of being seized and many are in the process of auction.

Sensex rises 1600 points, income tax will be 22 percent

There has been a huge surge in Indian stock markets with the announcement of exemption in corporate tax on domestic companies by Finance Minister Nirmala Sitharaman. During the trading, the Sensex rose 1601 points to 37,695.74 and the Nifty climbed 363.75 points to 11,068.55. To promote growth, the finance minister has reduced the corporate tax rate to 22 per cent for new domestic companies, unless corporate have taken any incentive or exemption. The stock market has blossomed with the announcement of the finance minister. The market is as bright as Diwali and almost all major sectors are seeing a boom. To increase growth and investment, changes in income tax act will be applicable from the current financial year i.e. 2019-20. The income tax on domestic companies will be 22 percent without any exemption and the effective rate will be 25.17 percent by adding surcharge and cess. Earlier this rate was 30 percent. The Finance Minister said that with the reduction of corporate tax and other concessions, the exchequer will incur a burden of Rs 1.45 lakh crore.

exemption in corporate tax on domestic companies by Finance Minister Nirmala Sitharaman.

To give a boost to Make in India, they added a clause in the Income Tax Act. In FY 2019-20, a domestic company formed after October 1, which will invest in manufacturing, will have the option to pay income tax at the rate of 15 per cent. That is, any company formed in India on or after 1 October 2019 will be taxed at 15%. If they start production before 31 March 2023, then 15 per cent will be taxed. There will be 17.10 percent effective rate including all types of surcharge and cess. Companies that announce a buyback of shares before 5 July 2019 will not face super rich tax. To increase the flow of funds in the capital market, the Finance Minister said that the surcharge raised in the budget in July will not be effective on the sale of shares in the company and capital gains from equity fund unit sales.

Rupees card will give cashback of up to 16,000 rupees

Domestic payment technology company RuPay will offer up to 40% cashback on transactions in select countries to its international cardholders. The National Payments Corporation of India gave this information. NPCI said in a statement that Indians traveling to the United Arab Emirates, Singapore, Sri Lanka, UK, USA, Spain, Switzerland and Thailand will get a monthly cashback of up to Rs 16,000 for activating the RuPay International Card. Customers using multiple cards with RuPay International Card, JCB, Discover and Diners Club will be able to get more cashback under the RuPay Travel Tales campaign.

The National Payments Corporation of India gave this information.

Rupees card will give cashback of up to 16,000 rupees
Rupees card will give cashback of up to 16,000 rupees

India’s leading private bank ICICI Bank reduced interest rates

India’s leading private bank ICICI Bank has reduced interest rates by 0.05 per cent in the new year. After this decision, the EMI of home, auto and personal loans will decrease. At the same time, taking loans for new customers will become cheaper. Recently, SBI announced a cut in the interest rates of MCLR based loans. INICICI Bank has decided to reduce interest rates by 0.05 per cent for all periods. This will reduce the loan EMI of the customers by 0.05%, which means there will be a saving of about 0.05% every month.

India’s leading private bank ICICI Bank has reduced interest rates by 0.05 per cent in the new year.

ICICI Bank reduced interest rates
ICICI Bank reduced interest rates

Has given New Year gift to customers. The bank has cut its external benchmark rate by 0.25 per cent. This will make home loans and auto loans cheaper. This deduction will be applicable from 1 January. All types of new and old customers of the bank will get the benefit. Now, the bank will give loan to those buying new houses at an interest rate of 7.90 per cent. Earlier the interest rate was 8.15 percent. The bank has reduced the external benchmark based rate from 8.05 per cent to 7.80 per cent.

Air India trouble increased, if not found buyer will be closed in 6 months!

Government-run air services are not taking the name of Air India’s financial woes. If it does not find a buyer soon, then in next 6 months, the government airline AI could be closed.This claim has been made by a senior Air India official.Meanwhile, Civil Aviation Minister Hardeep Singh Puri has stated that his ministry will try to issue a letter of interest for Air India in the coming few weeks. He said, “Air India is a first class airline but there are no two opinions about its privatization. We are not subject to any timeframe. We are trying to disinvest Air India at the earliest.” Earlier, a senior Air India official claimed that 12 small aircrafts were standing, requiring capital to run them again.

Government-run air services are not taking the name of Air India’s financial woes.

Air India trouble increased, if not found buyer will be closed in 6 months!
Air India trouble increased, if not found buyer will be closed in 6 months!

The airline has a debt of around Rs 60,000 crore and the government is working on disinvestment practices.Not disclosing the name, the official cautioned that Air India could also go the Jet Airways route if no prospective buyer is found by June next year.According to the official, the government has refused to invest more capital in the debt-ridden company amidst privatization plans. Because of this, the airline has to “somehow” operate by arranging capital in pieces.It is not likely to last long.He said that we had sought a government guarantee of Rs 2,400 crore from the government to meet the operational needs, but the government only gave a government guarantee for Rs 500 crore. The official did not expect too much of the government to get investors given the “economic situation”.

 

HDFC Bank’s profit increased 24.7 percent to Rs 6,638.03 crore

HDFC Bank’s profit increased 24.7 percent to Rs 6,638.03 crore in the second quarter ended 30 September 2019. The bank’s profit was Rs 5,322.41 crore in the July-September period a year ago. HDFC Bank reported that its income increased to Rs 36,130.96 crore in the reporting period, from Rs 30,124.49 crore in the second quarter of a year ago. The bank said that its debt (advances) grew by 19.1 percent to Rs 9,47,440 crore during the period under review. It was Rs 7,95,563 crore in the same period a year ago. The bank’s single-quarter profit stood at Rs 6,344.99 crore for the July-September quarter.

The bank said that its debt (advances) grew by 19.1 percent to Rs 9,47,440 crore during the period under review.

HDFC Bank's profit up 25 percent
HDFC Bank’s profit up 25 percent

Its net profit in the same period a year ago was Rs 5,005.73 crore. The total single income of the bank increased from Rs 28,215.15 crore to Rs 33,755 crore during this period. The bank’s gross NPA increased to 1.38 per cent at the end of September 2019 from 1.33 per cent at the end of September 2018. Gross NPA by value increased to Rs 12,508.15 crore during the quarter. It stood at Rs 10,097.73 crore in the same period a year ago. Net NPA stood at 0.42 per cent (Rs 3,790.95 crore).

British court asked the government, who will be lodged in jail, fugitive businessman Neerav Modi

The bank said it had made a provision of Rs 2,700.68 crore for the second quarter of the stuck loans and contingencies. The figure was Rs 1,819.96 crore in the same quarter a year ago. The total size of the bank’s bookkeeping stood at Rs 13,25,072 crore as of September 30 this year. The figure was Rs 11,69,898 crore in the same period of 2018-19. During this period, the total deposits with the bank increased by 22.6 percent to Rs 10,21,615 crore.