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Category: Business

  • Govt’s Humsafar Policy! Now many facilities including charging stations and toilets will be available on the highway

    Union Minister Nitin Gadkari on Tuesday launched the Humsafar policy to provide essential amenities like clean toilets and baby care rooms on the country’s national highway network.

    The Humsafar policy will introduce facilities like wheelchairs, EV charging stations, parking spaces and hostel services at fuel stations. The Humsafar policy will create employment and enhance livelihoods for service providers.

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    Facilitating the way for facilities like clean toilets, wheelchairs, EV charging stations, petrol pumps, restaurants, parking around the highway network, the central government has announced the Humsafar policy, which if implemented properly can change the picture of road travel.

    While launching this policy on Tuesday, Union Road Transport Minister Nitin Gadkari took a dig at the officials – After a lot of study and deliberation by educated people (officials and experts), this policy is finally being implemented after a delay of four years. Its objective is to make people experience pleasant and safe travel.

    There are four types of services in the new policy

    1. Eating and drinking places (Restaurants, Food Courts, Dhabas)

    2. Food and drink places and fuel stations

    3.Fuel Station Only (Including Toilet, Baby Care Room)

    4. Trauma Centre (with toilet, baby care room)

    Rating of private agencies

    1. The Humsafar policy also includes side amenities that are to be set up every 40-60 kilometres on the entire highway network. One thousand such side amenities are proposed.
    2. Apart from these, the dhabas, restaurants, petrol pumps etc. already present around this network have also been brought under the purview of the new policy.
    3. Their information will be available on the Highway Yatra platform and their rating will also be done by private agencies so that people can be informed about the level of facilities available in them. People will also be able to give their feedback on this portal.
    4. The new policy will also allow the establishments and centres providing these services to put up their signboards on the highways. Gadkari admitted on this occasion that it is our responsibility to develop these facilities for high-quality road service, but the government has failed to fulfill it.

    New employment opportunities

    With the introduction of this policy, he also warned the existing petrol pumps to open their toilet doors for people, otherwise their NOC will be cancelled. The new policy also includes baby care rooms, which Gadkari specifically mentioned in the context of the inconvenience caused to women. The new policy will not only provide people a better environment for road travel, but will also empower entrepreneurs and create new employment opportunities.

    Standard set of facilities available

    Gadkari hoped that the Humsafar brand would become synonymous with safe and comfortable travel. An important objective of this policy is to provide a standard infrastructure of facilities along highways and expressways – that is, better food points or toilets will not be only on the borders of big cities, but also on stretches of highways around towns and villages.

    Monitoring services

    The Road Transport Ministry has also made arrangements for monitoring these services in the new policy. Gadkari asked agencies like NHAI to pay constant attention to this.

    Union Road Transport Minister Nitin Gadkari said that the service providers will have to provide entry-exit space, service lanes and signage.

    Their license will be renewed every two years. If there are multiple applications within a radius of 10 km, only one license will be given. Service providers with regular 3 plus rating will also be given a discount in fees.

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  • RBI retains repo rate at 6.5 pc, FY25 growth at 7.2 pc

    Reserve Bank Of India

    Reserve Bank Of IndiaIANS

    The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday decided to maintain the status quo on the repo rate at the current 6.5 per cent, while retaining India’s real GDP growth forecast at 7.2 per cent for FY25.

    RBI Governor Shaktikanta Das said that inflation for the third quarter (Q3) this fiscal is set to moderately increase to 4.8 per cent, saying that moderation in inflation is likely to remain slow and uneven.

    “The inflation horse has been brought to the stable within the tolerance band. We have to be careful about opening the gate,” he said during the MPC briefing. The central bank decided to hold rates steady despite the US Federal Reserve’s recent rate cut of 50 basis points. The RBI has changed the stance to ‘neutral’ from “withdrawal of accommodation”.

    “The Indian rupee continues to be among the least volatile currencies,” said the RBI Governor. He further stated that banks and NBFCs need to give continued attention to inoperative accounts, mule accounts, the cybersecurity landscape and other factors.

    Experts welcomed the decision on steady repo rate, saying while there were hopes for a rate cut in line with the US Fed, the RBI has taken a prudent approach by focusing on key indicators like domestic inflation and financial stability, particularly in light of the declining individual savings as a percentage of GDP, which poses a financial stability risk.

    Shaktikanta Das 25th governor of the Reserve Bank of India (RBI)

    Shaktikanta Das

    “Recent global geopolitical developments have led to a surge in oil prices, which could drive inflation further. This likely influenced the MPC’s decision to hold rates steady,” said Suresh Darak, Founder of Bondbazaar.

    Over the last couple of weeks, the 10-year benchmark G-sec yields have risen by around 10 basis points due to these factors. However, if these global challenges prove temporary, we might see a rate cut in the next policy cycle, said experts.

    (With inputs from IANS)

  • ExaGrid’s Q3 2024 Momentum

    ExaGrid’s Q3 2024 Momentum

    October 09, 2024,Marlborough, Mass., United States : ExaGrid®, the industry’s only Tiered Backup Storage solution with Retention Time-Lock that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery, today announced that it had its strongest third quarter (Q3) in the company’s history, for the quarter ending September 30, 2024 with double digit growth over the same quarter a year ago.

    The company was Free Cash Flow (FCF) positive, P&L positive, and EBITDA positive for its 15th consecutive quarter. ExaGrid added 150 new customers in the quarter with 48 that were six- and seven-figure deals. ExaGrid now has more than 4,400 active upper mid-market to large enterprise customers that use ExaGrid Tiered Backup Storage to protect their data.

    ExaGrid is a financially stable company generating positive cash each quarter and has zero debt of any kind.

    Highlights of Q3 2024:

    Added 150 new customers
    15th consecutive quarter of Cash, EBITDA, and P&L positive operations
    Release of ExaGrid Version 7.0.0
    Announced support of Commvault Metallic
    Gained recognition in industry publications:
    MES Computing, a brand of The Channel Company, recognized ExaGrid on its 2024 MES Midmarket 100 list
    Enterprise Strategy Group by TechTarget (ESG) webinar on Successful Ransomware Preparedness in 2024

    “We are pleased to announce that ExaGrid continues to profitably grow as it keeps us on our path to eventually becoming a billion-dollar company. We are the largest independent backup storage vendor and we’re very healthy, continuing to drive top-line growth while maintaining positive EBITDA, P&L and Free Cash Flow,” said Bill Andrews, President and CEO of ExaGrid. “We’ve hit 4,400 active customer installations worldwide. ExaGrid continues to have an over 70% competitive win rate replacing primary storage behind the backup application, as well as deduplication appliances such as Dell Data Domain and HPE StoreOnce.

    “ExaGrid prides itself on having a product that just works, is sized properly, is well-supported, and just gets the job done. We can back up these claims with our 95% net customer retention, NPS score of +81, and the fact that 94% of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, 92% of our customers report to our automated health reporting system, and 99% of our customers are on our yearly maintenance and support plan,” said Andrews.


    Praveen

  • ATM Cash Withdrawal Rules: The rules for withdrawing money from bank ATMs have changed, Check Details

    ATM money withdrawal

    Rules Change: Nowadays every person deposits his money in the bank so that it remains safe and interest can also be earned on it. Whenever someone needs money, they usually withdraw cash from ATM or bank. But there are some rules and limits for cash withdrawal, which are important to know. Let us know about these rules and limits in detail.

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    Limit on cash withdrawal from ATM

    Rules Change: Every bank has set a fixed limit for withdrawing cash from ATM. This limit depends on the type of ATM card and the bank’s policy. For example, a maximum of Rs 40,000 can be withdrawn from a bank’s ATM in a day, while in some other banks this limit can be up to Rs 50,000.

    If you need more cash than this limit, you have to wait till the next day. The limit for withdrawing large amounts from ATM is only on a daily basis, so it is important to know how much you can withdraw at one time.

    Rules for withdrawing cash from the bank

    If you need more cash than the ATM limit, you can withdraw cash directly from the bank. There are some rules that need to be followed for withdrawing cash from the bank. The rules are a little strict, especially for withdrawing large amounts.

    TDS on cash withdrawal of more than Rs 20 lakh

    If you withdraw more than Rs 20 lakh in cash in a financial year and you have not filed Income Tax Return (ITR) for the last three years, then you will have to pay TDS (Tax Deducted at Source) . In this case, you will have to pay TDS at the rate of 2%.

    If you withdraw an amount of Rs 1 crore or more in cash, the rate of TDS will be 5%. That is, if you withdraw such a large amount, you will have to pay 5% of the total amount as TDS. This rule applies to those who have not filed ITR. If you have filed ITR on time, you will not have to pay TDS on cash withdrawal, no matter how big the amount you withdraw. This exemption is for those who regularly give details of their income to the government and file ITR.

    Cash withdrawal limit in banks

    The limit of cash withdrawal from the bank also depends on the policies of the bank. In some banks, you can withdraw a maximum of Rs 1 lakh in cash in a day, while in some banks this limit is up to Rs 5 lakh. This limit may vary depending on the services of the bank and the customer’s profile.

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  • Samsung Led the First Wave of India’s Festive Season Sale in 2024: TechInsights

    Smartphone sales grew 11% year-over-year in the first wave of the festive season sales in India between September 26 and October 6, 2024, according to latest estimates from TechInsights. Please do note that the first wave of the festive season in 2024 was 11 days compared to 7-8 days in the past couple of years and all year-over-year is comparing 2024’s first wave with 2023’s first wave.

    Samsung led the smartphone sales volume with a 20% market share, led by top-selling models such as Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE, etc., TechInsights said.

    Samsung sales in unit terms grew 17% YoY in 2024’s first wave compared to 2023’s first wave, TechInsights added.

    Commenting on Samsung’s performance, Abhilash Kumar, Industry Analyst at TechInsights said “Samsung had fantastic numbers in the first wave of festive season sales. This is driven by attractive deals and price cuts on products across price bands pertaining to Galaxy A, M, S, series. Also, Samsung was the main sponsor for sales events on Flipkart and Amazon which gave it an additional push. Samsung sales in unit terms grew 17% YoY in 2024’s first wave.”

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    Joseph Andrew

  • Alextra Advisory Introduces Ground-breaking Negotiated Rates for Diverse Sectors

    New Delhi: Alextra Advisory , a pioneering leader in innovative solutions, announces a revolutionary approach to cost-saving with negotiated rates across various sectors. The company’s newest initiative aims to empower individuals and businesses with unparalleled savings in the fields of Travel, Automobile, Healthcare, Legal, and beyond.

    In a rapidly evolving economic landscape, cost optimization has become paramount. Recognizing this need, Alextra Advisory has embarked on a mission to redefine financial efficiency. Through strategic negotiations and partnerships, the company has secured exclusive rates that transcend industry standards.

    “Alextra Advisory is committed to unlocking unprecedented value for our clients,” said Sheetal Kapoor, Founder at Alextra Advisory . “Our negotiated rates offer a competitive edge, enabling individuals and businesses alike to achieve their goals while maximizing their resources.”

    Sheetal Kapoor, renowned for her entrepreneurial acumen, brings a wealth of expertise in marketing and negotiation to her latest venture, Alextra. Having previously founded Oxxy Healthcare, a trailblazer in the healthcare industry, Kapoor has demonstrated a keen understanding of market dynamics and the art of negotiation. With an unwavering commitment to innovation and client satisfaction, she has propelled Oxxy Healthcare to great success, earning accolades for her visionary leadership and business acumen. Now, with the launch of Alextra, Kapoor harnesses her extensive experience and strategic prowess to redefine cost-saving solutions across multiple sectors. Her visionary approach and unparalleled negotiating skills position Alextra as a catalyst for financial empowerment, poised to revolutionize the way individuals and businesses optimize their resources.

    The benefits of Alextra’s negotiated rates extend across multiple sectors:

    **Travel:** Whether for business or leisure, travelers can now enjoy substantial savings on flights, accommodations, and transportation services.

    **Automobile:** From vehicle purchases to maintenance and insurance, Alextra Advisory provides unbeatable rates for all automotive needs.

    **Healthcare:** Prioritizing health and wellness is simplified with discounted medical services and wellness programs.

    **Legal:** Legal assistance is no longer cost-prohibitive, as Alextra Advisory offers preferential rates for various legal services, ensuring access to justice for all.

    This innovative approach to cost management underscores Alextra Advisory ‘ commitment to empowering individuals and businesses with financial flexibility and freedom. By leveraging negotiated rates, clients can redirect saved resources towards strategic investments, growth initiatives, and personal enrichment.


    Mansi Praharaj

  • SIP Secret Plan: You will get Rs 1 crore by depositing only Rs 3000. Know all details

    SIP Secret Plan: SIP (Systematic Investment Plan) is a powerful means of investing in mutual funds, but not everyone can become a millionaire by depositing money in it.

    For this, there are some rules and conditions, which are very important to follow. If you invest haphazardly by deviating from the rules, there is a greater possibility of loss than earning from SIP. There are some such secret plans of SIP that you can become a millionaire even by depositing small amounts. There is one such secret plan, by following which you can create a big fund of up to Rs 1 crore through SIP. Let’s know about it.

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    People with a salary of 20 thousand can also earn 1 crore rupees

    The most important thing about SIP is that it is not necessary to have a hefty salary to invest through it. Even if your salary is 15 or 20 thousand rupees a month, you can still deposit up to 1 crore rupees by investing in SIP. You do not need to rush for this. You have to be patient and keep depositing money in the account regularly for a long time. Unless you deposit money regularly, you cannot expect to earn a lot.

    What is the 70:15:15 secret plan of SIP?

    To earn a lot from SIP, you can use the secret plan of 70:15:15. This secret plan depends on your monthly income. Suppose your salary is Rs 20,000. Then under the secret plan of 70:15:15, you should keep aside 70% of this Rs 20,000 for household expenses. If you keep aside 70% of Rs 20,000 i.e. Rs 14,000 for household expenses, then you will have Rs 6000 left as 30% amount. Now from the remaining amount, keep aside 15% i.e. Rs 3000 for emergency. Then you will be left with 15% amount. 15% amount means Rs 30000. Now invest this Rs 3000 in the mutual fund of any company through SIP.

    How to get Rs 1 crore from Rs 3000?

    Now if you have decided to invest under the 70:15:15 plan of SIP, then let us tell you that you will have to deposit Rs 3000 every month in any mutual fund. You will have to do this continuously for 30 years. Now if you deposit Rs 3000 every month, then you will be able to deposit Rs 36,000 in a year. In the next 30 years, you will have Rs 10,80,000 deposited. Generally, on depositing money in SIP, the investor gets 12% return annually.

    Apart from this, there is also the benefit of compounding. At the rate of 12%, in 30 years, you will get Rs 95,09,741 as a return on your Rs 10,80,000 at the rate of 12%. Now if you add your principal of Rs 10,80,000 and return of Rs 95,09,741, then a huge fund of Rs 1,05,89,741 will be deposited in your account. Now you tell me whether the 70:15:15 SIP plan is beneficial for you or not?

    DISCLAIMER:- Mutual fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance of the schemes is neither an indicator nor a guarantee of future performance.

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  • Nuvoco Vistas secures key limestone blocks at competitive rates strengthening its operational efficiency in Rajasthan

    New Delhi, October 08, 2024: Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group, has been declared the preferred bidder for three significant limestone blocks (NB-01, NB-02, NB-03) located at Nimbol, Tehsil Jaitaran, District Beawar, Rajasthan, during the recently concluded auctions held by the Government of Rajasthan. These auctions were conducted via the MSTC e-auction portal. The auction saw participation from major cement players and other industries.

    The blocks cover 41.37 hectares, have limestone resources estimated at 28.43 million tons, and are located near our cement manufacturing facility in Nimbol, Rajasthan, which provides a strategic advantage. Furthermore, these blocks were secured at a highly competitive price compared to other cement players. By having access to these deposits, the company can ensure the long-term sustainability of its operations through increased limestone availability.

    Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., commented, “By acquiring these limestone blocks, the Company ensures access to high-quality resources to strengthen its operations. This strategic move will boost our production capabilities, allowing us to more effectively meet the increasing demands of the cement industry. It reinforces our commitment to maintaining our position as a leading building materials company while driving excellence and sustained growth.”


    Mansi Praharaj

  • Wayanad to Host Nation’s Largest Global Livestock Conclave in December

    Thiruvananthapuram, October 8, 2024: “The upcoming Global Livestock Conclave in Wayanad will play a pivotal role in advancing the dairy, cattle, and pet sectors, creating employment opportunities, and encouraging the younger generation to explore careers in agriculture,” stated J. Chinchurani, Minister for Animal Husbandry and Dairy Development. The Minister was speaking at the logo unveiling ceremony for the conclave, which is set to take place from December 20 to 29 at Pookode Veterinary College, Wayanad.

    Minister J. Chinchurani unveils the logo for the Global Livestock Conclave, scheduled from December 20-29 at Kerala Veterinary University, Wayanad. Kerala Veterinary University Vice Chancellor Prof. Dr. Anil K.S., Director Dr. T.S. Rajeev, and Associate Professor Dr. Justin Davis were also present at the event
    Minister J. Chinchurani unveils the logo for the Global Livestock Conclave, scheduled from December 20-29 at Kerala Veterinary University, Wayanad. Kerala Veterinary University Vice Chancellor Prof. Dr. Anil K.S., Director Dr. T.S. Rajeev, and Associate Professor Dr. Justin Davis were also present at the event

    The conclave, the largest of its kind in the country, will provide a platform to showcase the latest technologies and value-added products in livestock, poultry, dairy, and aquafarming sectors. “This event will be instrumental in promoting the comprehensive development of the state’s livestock sector, which in turn will strengthen Kerala’s economy,” the minister said.

    The event, hosted by Kerala Veterinary and Animal Sciences University (KVASU), is expected to attract around five lakh participants, including representatives from agricultural organisations, veterinary professionals, and industry experts. The ten-day conclave will feature stalls covering two lakh square feet, displaying pets, livestock, dairy farming, aquaculture, and poultry.

    KVASU Vice Chancellor, Prof. Dr. Anil K.S., and KVASU Director, Prof. Dr. T.S. Rajiv, also addressed the gathering. Prof. Rajiv noted that the conclave is expected to create over 25,000 jobs in the livestock and animal husbandry sectors. “Participants will gain valuable insights into emerging trends and innovations, helping to elevate the productivity of these sectors,” he said.

    In addition to exhibitions, the conclave will host expert-led seminars and workshops focused on modern animal husbandry techniques, value-added product marketing, and strategies to protect animals from diseases.

    For more details, contact:
    9895088388, 94460 52800


    Neel Achary

  • Post Office’s great Scheme! You can earn ₹17 lakh by depositing ₹333 daily, this is the calculation

    Post Office Best Saving Scheme: The post office runs several small savings schemes and one of them is Recurring Deposit i.e. RD, in which you can open your account by investing just Rs 100 per month.

    Everyone saves some amount from their income and wants to invest it in a place where their money is safe and they get good returns. In this case, the saving schemes run by the post office are becoming quite popular among the people. There is one such scheme in which you can deposit more than Rs 17 lakh by depositing just Rs 333 daily. We are talking about the Post Office Recurring Deposit Scheme or Post Office RD Scheme, which is considered a piggy bank that gives huge returns to the investors.

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    Excellent option for risk-free investment

    All other saving schemes of Post Office are risk-free and there is absolutely no risk in RD investment as well. The government itself guarantees the safety of investment in this. But in this small saving RD scheme which has great benefits, you have to remember to invest on time every month because if any month you forget to deposit the instalment then you will have to pay a penalty of 1% per month and if you miss 4 consecutive instalments then this account gets closed automatically. The maturity period of this scheme is 5 years.

    Open an account with just Rs 100

    In this Recurring Deposit (RD), which is included in the best small savings schemes of the post office, you can open your account by investing Rs 100 per month. Facility of opening single or joint account is also given in this. If we talk about interest, then currently a strong compound interest of 6.8 percent is being given on this scheme. That is, along with the investors’ money being safe, investors are also getting amazing interest rate in this government scheme.

    The calculation of raising 17 lakhs from 333 rupees

    If we talk about raising funds of more than 17 lakh rupees by investing in this popular scheme of the post office, then its calculation is very easy. If you invest 333 rupees daily in this scheme, then according to this, this amount becomes approximately 10,000 rupees per month. Meaning, by doing this, you will save 1.20 lakh rupees every year. That is, in the five-year maturity period, you will deposit 5,99,400 rupees, now if we look at the compound interest at the rate of 6.8 percent, it will become 1,15,427 rupees, that is, your total amount will become 7,14,827 rupees.

    Now if after completion of the maturity period in Post Office Recurring Deposit, you extend your investment for 5 years, that is, you can take advantage of this piggy bank for up to 10 years. Now in 10 years, the amount deposited by you will be Rs 12,00000 and the interest received on it will be Rs 5,08,546. Now after 10 years, after adding the interest, you will get a total amount of Rs 17,08,546.

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