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Category: Business

  • 24 companies to invest Rs 3,516 crore under PLI scheme for ACs and LED lights

    24 companies to invest Rs 3,516 crore under PLI scheme for ACs and LED lights

    24 companies to invest Rs 3,516 crore under PLI scheme for ACs and LED lightsIANS

    With as many as 24 beneficiary companies committing an investment of Rs 3,516 crore in the third round, the government’s production-linked incentive (PLI) scheme is poised to significantly boost the production of components of ACs and LED lights across India, according to a Commerce and Industry Ministry statement on Monday.

    In the third round of the online application window of the PLI scheme, a total of 38 applications were received. After reviewing these applications, the government has provisionally selected 18 new companies. These companies include 10 manufacturers of components of Air Conditioners and 8 manufacturers of LED Lights, with committed investment of Rs 2,299 crore, the statement said.

    The companies that have been selected include Voltas Components, Jupiter Aluminium, SMEL Steel, Lumax, Intelux Electronics and Neolite.

    In addition, six existing PLI beneficiaries have been provisionally selected to upgrade to higher investment categories, committing an additional investment of Rs 1,217 crore. These include companies such as Hindalco, LG Electronics, Blue Star and Voltas.

    PLI Scheme on White Goods aims to create a robust component ecosystem for air conditioners and LED lights Industry in India

    PLI Scheme on White Goods aims to create a robust component ecosystem for air conditioners and LED lights Industry in IndiaIANS

    Altogether, 84 companies under the PLI Scheme for White Goods are set to bring investments of Rs 10,478 crore, resulting in production worth Rs 1,72,663 crore, the statement said.

    It highlighted that the move is expected to bolster the manufacturing capabilities and economic growth in the sector. For air conditioners, companies will be manufacturing components like, compressors, copper tubes (plain and/or grooved control assemblies for IDU or ODU, Heat Exchangers and BLDC motors among others.

    Similarly, LED Lights, LED Chip packaging, LED Drivers, LED Engines, LED Light Management Systems and Metallized films for capacitors etc. will be manufactured in India.

    The Union Cabinet had given approval to the PLI Scheme for White Goods (Air Conditioners and LED lights) to be implemented over FY 2021-22 to FY 2028-29 with an outlay of Rs 6,238 crore on April 7, 2021. The scheme was notified by DPIIT on April 16, 2021.

    The PLI Scheme on White Goods aims to create a robust component ecosystem for air conditioners and LED lights Industry in India, and make the country an integral part of the global supply chains. The scheme extends an incentive of 6 per cent to 4 per cent on reducing basis on incremental sales for a period of 5 years, subsequent to the base year and one year of gestation period. Domestic Value Addition is expected to grow from the current 15-20 per cent to 75-80 per cent.

    (With inputs from IANS)

  • Paytm reports Rs 208 crore loss in Q3, revenue down by 36 pc

    Paytm reports Rs 208 crore loss in Q3, revenue down by 36 pc

    IANS

    Paytm’s parent company One97 Communications Limited has clocked a loss of Rs 208 crore in the third quarter of FY25, from Rs 222 crore in the same quarter last year.

    In Q3 FY25, the company’s revenue declined by 36 per cent year-on-year (YoY) to Rs 1,828 crore, from Rs 2,851 crore in the same period last year.

    On a quarter-on-quarter basis, Paytm’s revenue surged by 10 per cent, supported by a rise in gross merchandise value (GMV), good growth in subscription revenues and higher revenue from distribution of financial services.

    Paytm said that “we have been able to reduce our indirect cost by 7 per cent QoQ and 23 per cent YoY to Rs 1,000 crore. Going forward, we expect calibrated growth in marketing costs and sales employee expenses as we invest in customer and merchant acquisition.”

    “Employee expenses for the first nine months of FY2025 dropped by Rs 451 crore YoY, surpassing the company’s annual cost-saving target of Rs 400-500 crore,” the company said.

    Paytm

    IANS

    The company’s payment services revenue rose to Rs 1,059 crore, while its financial services revenue saw an impressive 34 per cent QoQ increase, reaching Rs 502 crore.

    Gross Merchandise Value (GMV) processed through the platform rose 13 per cent QoQ to Rs 5 lakh crore.

    Paytm’s merchant subscriber base for payment devices rose to 1.17 crore, with 5 lakh new additions during the quarter. The net payment margin reached Rs 489 crore, aided by higher subscription revenue and a stable payment processing margin.

    Paytm also distributed loans worth Rs 3,831 crore during the December quarter, versus Rs 3,303 crore in Q2 FY2025. Notably, over 50 per cent of these loans were provided to repeat borrowers, reflecting a consistent demand and strong customer retention.

    (With inputs from IANS)

  • Indian Railways gave permission to Vande Bharat Express to run on this route, Check route & more Details

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    Northern Circle Railway Safety Commissioner (CRS) Dinesh Chand Deswal on Tuesday gave permission to run passenger trains on the newly constructed broad gauge railway line connecting Kashmir with the rest of the country.

    Officials gave this information. About a week ago, the CRS had conducted a two-day inspection of the Katra-Riyasi section of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project, after which this approval has now been given.

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    CRS gave permission to run the train

    Based on its detailed inspection on January 7 and 8, the CRS has given permission to run goods and passenger trains in a seven-page letter to the concerned ministry and railway officials, including the Chief Railway Safety Commissioner, indicating the completion of the much-awaited ambitious project.

    Work started in 1997

    Work on the project to connect Kashmir by rail started in 1997 and due to geographical and climatic challenges, the work could not be completed on time many times.

    272 kilometer long rail line project

    Under the USBRL project, work on 209 km of the total 272 km rail line was started in multiple phases, with the 118-km Qazigund-Baramulla section starting in October 2009 under the first phase, followed by the 18-km Banihal-Qazigund route in June 2013, the 25-km Udhampur-Katra route in July 2014 and the 48.1-km Banihal-Sangaldan section in February last year.

    Work completed in December 2024

    The work on the 46 km long section between Sangaldan-Riyasi was also completed in June last year, but a total of 17 km between Reasi and Katra was left and this section was also completed in December 2024.

    The train will run at a speed of 85 kilometers per hour

    Trains have been allowed to run at a speed of 85 kmph on the main line and 15 kmph on the ‘turnout’ (when the train changes from one line to another). However, along with the approval, compliance with various conditions and guidelines has also been asked.

    History made by climbing 180 degrees

    On reaching Banihal after the successful speed test, Deswal told reporters that a new chapter has been added in the history of railways with the test at a speed of 110 kmph on a 180 degree climb in challenging geographical conditions from Katra to Banihal. Last month, Railway Minister Ashwini Vaishnav had announced the completion of the Reasi-Katra section.

    Related Articles:-

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  • NITI Aayog, Nasscom Foundation to digitally empower one lakh lives in India

    Nasscom Foundation's Aspirational Districts Programme

    NITI Aayog, Nasscom Foundation to digitally empower one lakh lives in IndiaIANS

    NITI Aayog and Nasscom Foundation on Monday announced their initiative, aligned with the Pradhan Mantri Digital Saksharta Abhiyan, to digitally empowering one lakh lives in India.

    The initiative’s initial phase focuses on bridging the digital divide by providing digital literacy training and access to essential e-governance services across 60 Particularly Vulnerable Tribal Groups (PVTG) blocks.

    The programme will subsequently expand to include all other aspirational blocks. By promoting digital inclusion, this initiative supports the government’s vision of Viksit Bharat, fostering inclusive growth and ensuring that no one is left behind in India’s digital transformation journey.

    The participants will be trained on digital skills encompassing foundational computer skills, cybersecurity, and effective internet usage, enabling participants to confidently navigate the digital world.

    “Technology is the driving force of progress and empowerment in today’s world. To achieve that growth, digital literacy becomes crucial in ensuring that India’s remotest communities, especially the marginalized PVTGs, have the power to pave the way for sustainable growth and prosperity,” said Jyoti Sharma, Chief Executive Officer, Nasscom Foundation.

    NITI Aayog

    NITI Aayog, Nasscom Foundation to digitally empower one lakh lives in IndiaIANS

    “The Aspirational Blocks Programme, in partnership with NITI Aayog, is not just about bridging the digital divide — it’s about deepening democracy and ensuring active participation in shaping the vision of Viksit Bharat,” she added.

    Building on the success of Nasscom Foundation’s Aspirational Districts Programme launched in 2022, focusing on bridging the digital divide across 55 aspirational districts across 23 states through Digital Resource Centres, this initiative continues to demonstrate Nasscom Foundation’s commitment to leveraging technology for social impact, driving progress and empowerment in marginalized regions across India.

    According to the Tribal Development Report 2022, the literacy rate among PVTGs is just 47.7 per cent, far below the national average of 77.3 per cent which makes the scenario of digital growth extremely vital in these communities.

    To address this disparity, nasscom foundation has extended the initiative from aspirational districts to blocks by focusing on communities including women and youth between the ages of 12 and 60, equipping them with essential digital skills and resources to foster holistic growth and inclusion.

    (With inputs from IANS)

  • FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

    FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

    IANS

    Several new-age stocks have witnessed sharp selling in the first half of January, as the stock market goes through correction amid global uncertainties.

    This list includes stocks of new-age companies like FirstCry and MobiKwik which fell more than 20 per cent.

    Mother and childcare e-commerce platform FirstCry’s stock has fallen by 24.82 per cent since the beginning of this year to date. Currently, the stock is trading at Rs 489.

    Fintech major MobiKwik’s share price fell by 23.07 per cent to Rs 456. MobiKwik was listed in December 2024. After listing, the stock saw a big rally. Currently, it is trading at Rs 698.30 per share.

    Insurance distribution provider PB Fintech’s stock has fallen 18.71 per cent between January 1 and January 17 and is trading at Rs 1724.

    Le Travenues Technology Ltd, which owns online travel aggregator Ixigo, saw its stock decline by 20.63 per cent to Rs 142 so far this month.

    FirstCry, MobiKwik, Ixigo worst hit as new-age stocks tank amid sharp selling

    IANS

    Food delivery and quick commerce service providers Zomato and Swiggy’s stock declined by 10.38 per cent and 12.75 per cent, respectively, to Rs 247 and Rs 473 apiece.

    Apart from this, the stock of new-age insurance company Go Digit General Insurance has fallen by 11.76 per cent to Rs 288 since the beginning of January.

    The stock of the leading fintech company Paytm also fell more than 9 per cent since the beginning of January and is currently trading at Rs 897 apiece.

    The market has also seen a decline since the beginning of January. During this period, the Sensex fell by 2.42 per cent and the Nifty by 2.30 per cent.

    According to market experts, the reason for the decline is global instability due to tariff threats by US President-elect Donald Trump, the high valuation of the Indian stock market, and the third quarter results of FY 2024-25 are expected to be weak.

    (With inbputs from IANS)

  • Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this

    Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this
    Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this

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    If you need money in an emergency, you can apply for it with the help of Aadhaar card. In which you have to go to the app or official website of the NBFC (Non-Banking Financial Company) and Fintech platform.

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    Emergency Loan: Many times there are situations when you suddenly need money and no friend or relative can help you. If you are also stuck in such a situation, then with the help of Aadhaar card you can get an instant loan of Rs 10,000.

    The biggest feature of this loan is that you don’t have to repay it all at once, it can be repaid in installments as per your convenience. Also, no collateral is required for this loan of Rs 10,000. Let’s know the details about it.

    Aadhar Card Loan

    A loan of Rs 10,000 available on Aadhar card is called a personal loan. Generally, apart from Aadhar card, no other documents are required for a personal loan. In this, Aadhar card is asked only for identification and Rs 10,000 is transferred to your account immediately. If you use a PAN card, you can also get a loan of a higher amount.

    Who gives loan on Aadhaar card?

    Very few government banks give personal loans. If you have a good credit score and you use PAN card while applying for a loan, private banks easily give personal loans. If you do not have a PAN card, you can take a personal loan from NBFC (Non-Banking Financial Company) and Fintech platforms with the help of Aadhaar card.

    How to Apply?

    If you need money in an emergency, you can apply for it with the help of Aadhaar card, in which you have to go to the app or official website of the NBFC (Non-Banking Financial Company) and Fintech platform. Where you can easily take a personal loan by providing Aadhaar card and necessary details.

    Who can get this loan?

    People between the age group of 21 to 60 can apply for a personal loan with the help of Aadhaar card. Only those people who are employed or have their own business can apply for this. Along with this, you should also have an active bank account.

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  • Indian stock market ends lower after 3-day gains, Nifty below 23,250

    Indian stock market ends lower

    IANS

    India’s domestic benchmark indices ended lower on Friday as selling was seen in the IT and Financial service sectors.

    Sensex ended at 76,619.33 down by 423.49 points or 0.55 per cent, and Nifty settled at 23,203.2, down by 108.60 points, or 0.47 per cent.

    The Nifty remained under bearish pressure for yet another session. Sentiment remains weak as the index declined after encountering resistance at a crucial moving average, according to experts.

    “This bearish sentiment may persist in the short term or as long as the index remains below 23,400. On the downside, it could drift toward 23,000. A decisive break below 23,000 might trigger a broader market correction. Conversely, 23,400 is likely to remain a strong resistance level,” said Rupak De of LKP Securities.

    Since the recent peak in September 2024, the Nifty 50 has fallen by 11.5 per cent, with the Midcap index down 12 per cent and the Smallcap index sliding 11 per cent.

    Sensex

    IANS

    “The decline has steepened over the past week, but the real story lies beneath these numbers. Many individual stocks are down by 25-40 per cent, reflecting the broader pain that major indices often mask,” according to Krishna Appala of Capitalmind Research.

    Nifty Bank ended at 49,540.6 down by 738.10 points or 1.50 per cent. The Nifty Midcap 100 index closed at 54,607.65 after climbing 123.85 points, or 0.23 per cent, while the Nifty Smallcap 100 index closed at 17,672.05 after adding 28.75 points, or 0.16 per cent.

    On the Bombay Stock Exchange (BSE), 2,055 shares ended in the green and 1,887 shares in the red, whereas there was no change in 123 shares.

    In the Sensex pack, Zomato, Nestle India, Asian Paints, Power Grid, Tata Steel, L&T, ITC, Sun Pharma, Titan, Adani Ports, Tata Motors, Hindustan Unilever Limited, Maruti Suzuki and NTPC were the top gainers. Whereas, Infosys, Axis Bank, Kotak Mahindra Bank, M&M, ICICI Bank, TCS and Tech Mahindra were the top losers.

    In the meantime, foreign institutional investors (FIIs) sold equities worth Rs 4,341.95 crore on January 16, on the other hand, domestic institutional investors bought equities worth Rs 2,928.72 crore on the same day.

    (With inputs from IANS)

  • Eveready Lighting illuminates the spiritual journey of devotees at Maha Kumbh Mela 2025

    Eveready Lighting illuminates the spiritual journey of devotees at Maha Kumbh Mela 2025

    ~ Illuminates the grandest spectacle Kumbh Mela 2025 with 13,000 Eveready LED lights including a combination of street lights and flood lights ~

    ~ Creates a brighter and safer experience for millions of devotees attending the gathering ~

    Kumbh Mela, Everready

    Link: https://www.instagram.com/p/DEmQF0zNp9e/

    16th January, 2025; National:

    In an endeavor to illuminate the spiritual experience for millions of devotees at the Maha Kumbh Mela 2025, Eveready Lighting, the fastest-growing business category of Eveready Industries India Limited (EIIL), installed 13,000 cutting-edge LED lights, ensuring a vibrant, safe, and well-lit environment.

    This monumental effort includes the deployment of 150W streetlights (Minimight II) and 250W floodlights (Performax PC), strategically placed across the expansive Kumbh grounds. This initiative not only highlights Eveready’s product capabilities but also reinforces its commitment to enhancing the safety, convenience, and overall experience of attendees.

    Kumbh Mela 2025 lighting

    Further strengthening its association with the Maha Kumbh Mela, Eveready Lighting has also implemented extensive branding initiatives throughout Prayagraj and the Kumbh Mela grounds by facilitating hoardings and pole branding in key areas, police booth branding, no parking boards and RWA society branding, and signage near changing rooms.

    Speaking on the activation, Mohit Sharma, Senior Vice President & Business Unit Head – Lighting & Electricals, Eveready Industries, said, “The Maha Kumbh Mela is an unparalleled cultural phenomenon, drawing millions of people from all walks of life. At Eveready Lighting, we are honored to play a role in illuminating this grand spiritual journey. By ensuring a safe and well-lit environment, we aim to contribute to a truly transformative experience for all attendees and hope to integrate in meaningful ways to create lasting value.”

    Kumbh Mela 2025 event

    Recognizing the scale and significance of the Maha Kumbh Mela, Eveready Lighting’s efforts exemplify its deep-rooted mantra of making a difference. By seamlessly integrating advanced lighting solutions with the event’s cultural values, the brand reaffirms its dedication to empowering communities and fostering progress.

    Furthermore, Eveready Lighting leveraged its social media platforms to create buzz around the Maha Kumbh Mela 2025.

    As it lights the way for millions of pilgrims, Eveready continues to inspire a brighter and better India.

  • Indian stock market ends higher, Adani Ports among top gainers

    Sensex trades higher on strong global cues

    Indian stock market ends higher, Adani Ports among top gainersIANS

    India’s domestic benchmark indices ended higher on Thursday as Adani Ports was among the top gainers.

    Sensex ended at 77,042.82 up by 318.74 points, or 0.42 per cent, and Nifty settled at 23,311.80, up by 98.60 points, or 0.42 per cent.

    Adani Ports closed at Rs 1,151 per share after gaining by Rs 22.85 or 2.03 per cent.

    Nifty Bank ended at 49,278.70 up by 527 points, or 1.08 per cent. The Nifty Midcap 100 index closed at 54,483.80 after climbing 584.80 points, or 1.09 per cent, while the Nifty Smallcap 100 index closed at 17,643.30 after adding 289.35 points, or 1.67 per cent.

    According to experts, benchmark indices continued to trade in the positive, albeit off highs, driven by positive investor sentiment following mild US inflation data, which raised hopes for a potential rate cut by the Federal Reserve.

    Adani Enterprises' share jumps nearly 5 pc, Adani Ports among top gainers

    Adani Ports closed at Rs 1,151 per share after gaining by Rs 22.85 or 2.03 per centIANS

    “Additionally, favourable developments in the Israel-Hamas ceasefire and a reduced trade deficit further boosted the market’s upward movement. However, weak economic growth data from the UK dampened some of this optimism. Despite higher valuations compared to leading indices, the broader market saw bargain buying during the recent correction,” they added.

    On the Bombay Stock Exchange (BSE), 2,779 shares ended in the green and 1,187 shares in the red, whereas there was no change in 101 shares.

    In the Sensex pack, Adani Ports, SBI, IndusInd Bank, Axis Bank, Tata Motors, Bharti Airtel, Bajaj Finserv, NTPC, Maruti Suzuki, Ultra Tech Cement and ICICI Bank were the top gainers. Whereas, HCL Tech, Infosys, Hindustan Unilever Limited and ITC were the top losers.

    In the meantime, foreign institutional investors (FIIs) sold equities worth Rs 4,533.49 crore on January 15, on the other hand domestic institutional bought equities worth Rs 3,682.54 crore on the same day.

    (With inputs from IANS)

  • 8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit

    8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit
    8th pay commission: Salary of government employees will increase by 186% in the 8th pay commission, this is how you will get benefit

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    PM Modi has approved the formation of the Eighth Pay Commission for central government employees. The government has said that it will be implemented from the year 2026. The names of the chairman and two members of the Eighth Pay Commission will also be announced soon.

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    People were eagerly waiting for the Eighth Pay Commission. It was in the headlines for a long time. PM Modi has approved the formation of the Eighth Pay Commission for the employees of the Central Government. The government has said that it will be implemented from the year 2026. The names of the chairman and two members of the Eighth Pay Commission will also be announced soon. Earlier, the 7th Pay Commission was constituted in the year 2016. Union Minister Ashwini Vaishnav has given information about the release of the 8th Pay Commission. He said that the Seventh Pay Commission was implemented in the year 2016 and its tenure is till 2026.

    When will it be implemented

    The Eighth Pay Commission is to be implemented from the year 2026. In such a situation, the reason behind its announcement so early is that it has been constituted so early so that suggestions, recommendations etc. can be handled properly in time. Government employees were still getting salary under the Seventh Pay Commission. With the implementation of the Eighth Pay Commission, there are high hopes of increase in the salary of the Central Government employees. Under this, the government can increase the pension and allowances of retired employees. The exact date of formation of this commission has not been announced yet.

    How much will the salary increase

    Ashwini Vaishnav said that soon the chairman and two members will be appointed to monitor the 8th Pay Commission. What will be the difference on the salary due to the arrival of the 8th Pay Commission. Let us know. The minimum salary is estimated to be Rs 34,560. At the same time, 17,280 +DR is expected as pension. This clearly means that the minimum salary can increase by about 186%. Pension can also increase on promotion and salary increase.

    What is the 8th Pay Commission

    The Central Government constitutes a commission. It is called the Pay Commission. It recommends changes in the salary structure of the Central Government employees. The previous 7th Pay Commission was constituted in February 2014. However, it was implemented on 1 January 2016. In the 7th Pay Commission, the salary of the employees was increased from Rs 7,000 to Rs 18,000. Usually a new commission is constituted every 10 years.

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