NewsBizkoot.com

Category: Business

  • Govt to clear FAME 3 scheme for faster EV adoption in 1-2 months: Minister

    Govt to clear FAME 3 scheme for faster EV adoption in 1-2 months: Minister

    Govt to clear FAME 3 scheme for faster EV adoption in 1-2 months: MinisterIANS

    The Centre is likely to clear the third Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme to further promote electric vehicle (EV) adoption in one or two months, Minister of Heavy Industries, HD Kumaraswamy, said on Wednesday.

    The government is reportedly considering a proposal worth Rs 11,500 crore for FAME 3 with incentives over the two-year period. The scheme is likely to have incentives for electric buses, three-wheelers and two-wheelers.

    At the Assocham’s ‘National Conference on Electric Mobility’ here, Kumaraswamy said several suggestions have been received for FAME 3 and the scheme “will be cleared” within the next two-three months.

    The FAME India) scheme was launched in 2015 to promote the adoption of electric/hybrid vehicles (xEVs) in India. Additionally, the programme’s outlay was increased from Rs 10,000 crore to Rs 11,500 crore.

    Under Phase II of the scheme, claims of 16,71,606 electric vehicles for Rs 6,825 crore have been submitted for reimbursement of subsidy by the OEMs (EV manufacturers).

    The Centre said that 6,862 electric buses were sanctioned for intra-city operations under the FAME-II scheme. Out of 6,862 e-buses, 4,853 e-buses have been supplied till July 31.

    To further accelerate the adoption of electric vehicles, the government is now planning to launch FAME 3.0.

    Electric vehicle

    The government has approved 50 out of 74 EV applicationsIANS

    Meanwhile, the government has approved 50 of the 74 applications it received from automakers for the PLI schemes in the EV sector, and remaining 24 applications are under review. According to approved applicants under the main PLI scheme, investments reached Rs 17,896 crore and incremental sales crossed Rs 3,370 crore (up to March 31).

    Among other key initiatives of the ministry are PLI Advanced Chemistry Cell (ACC) scheme with an approved outlay of Rs 18,100 crore for 50 GWh, the Electric Mobility Promotion Scheme (EMPS) scheme with an outlay of Rs 778 crore and the SMEC initiative is aimed at attracting global EV investments with a minimum commitment of Rs 4,150 crore.

    Last month, the number of EVs registered in FY24 increased significantly by 42.06 per cent as compared to FY23.

    (With inputs from IANS)

  • Sensex down by 202 points, Nifty drops below 25,200

    sensex

    IANS

    Indian equity indices closed in the red on Wednesday due to negative global sentiments.

    At closing, Sensex was down 202 points, or 0.25 per cent, at 82,352 and Nifty was down 81 points, or 0.32 per cent, at 25,198.

    The biggest impact of the decline was seen in banking and IT stocks.

    Nifty Bank closed at 51,400, down 288 points or 0.56 per cent, and Nifty IT closed at 42,450, down 400 points or 0.94 per cent.

    Apart from this, Auto, PSU Bank, fin service, metal and energy indices were major losers. Pharma, FMCG, realty and media indices closed in the green.

    In the Sensex pack, Asian Paints, HUL, UltraTech Cement, Sun Pharma, Bajaj Finserv, Reliance, HDFC Bank and Bharti Airtel were the top gainers.

    Wipro, M&M, Axis Bank, ICICI Bank, SBI, Infosys, L&T and TCS were the top losers.

    Sensex jumps more than 1,000 points on impressive GDP numbers (Ld)

    IANS

    According to experts, the warning signals from weak US manufacturing data added concerns about a potential slowdown in the US economy, which dragged the domestic indices. Further, a sluggish Chinese outlook exacerbated the decline in oil prices to a nine-month low.

    Due to a lack of major domestic triggers, the indices will take direction based on global cues, the experts added. The stock market trend was also negative.

    On the Bombay Stock Exchange (BSE), at closing,1,916 shares were in green, 2,035 shares closed in red, and 96 shares were unchanged.

    The Nifty Midcap 100 index fell 74 points, or 0.13 per cent, to 59,223 and the Nifty Smallcap 100 index closed marginally lower by 4 points at 19,322.

    Rupak De, Senior Technical Analyst of LKP Securities said: “The Nifty broke its upward trend by falling below the trend line on the hourly chart. However, the index found initial support at the historical swing high. Going forward, the index might consolidate between 25,080 and 25,250.”

    “A drop below 25,080 could trigger further correction towards 24,800-24,750/24,500, while a move beyond 25,236 might induce a rally toward higher levels,” he added.

    (With inputs from IANS)

  • SBI has brought two special FD schemes for customers, Opportunity till 30 September

    There are many banks in the country that are providing special fixed deposits (FD) to customers at higher interest rates. However, customers can avail this offer only for a fixed period.

    Currently, Indian Bank, Punjab and Sindh Bank, IDBI and SBI have brought this golden opportunity for their customers. Customers can invest in special FDs of these banks at higher interest rates till September 30. Let us know which bank is offering how much interest on its special FD.

    – Advertisement –

    IDBI Bank: Festive FD

    IDBI Bank is offering Utsav FD scheme to its customers. This FD scheme is available for 300 days, 375 days, 444 days and 700 days. General category customers will get 7.05% interest rate under Utsav FD scheme on completion of 300 days while senior citizens will get 7.55% interest rate.

    On investing in Utsav FD for 375 days, senior citizens will get 7.65% interest rate which is more than the interest rate of 7.6% given by the bank earlier. The bank used to provide 7.1% interest rate to the general category but currently in this period the interest has increased to 7.15%. The interest rate for FD of 444 days is 7.35%, while for senior citizens this rate is 7.65%. On investing for 700 days, the bank is giving an interest rate of 7.20% to the general category while senior citizens are getting the benefit of 7.70%.

    Indian Bank Special FD

    Indian Bank is offering 7.05% interest rate to general public, 7.55% to senior citizens and 7.80% to very senior citizens under Ind Super 300 Days. Under its second 400 days FD scheme, Indian Bank is offering 7.25% interest rate to general category citizens. The bank is offering 7.75% interest rate to senior citizens and 8.00% interest rate to very senior citizens. The last date to invest in Indian Bank Special FD is 30 September 2024.

    Also Read: Indian Railways introduces Umid card for free treatment of employees and Pensioners

    Punjab and Sind Bank Special FD

    Punjab and Sindh Bank’s 222 days special FD will get an interest rate of 6.30% and 333 days FD will get an interest rate of 7.15%. On investing in FDs with a duration of 444 days, the bank is giving 7.25% interest to ordinary citizens. The deadline for investing in Punjab and Sindh Bank’s special FD has been fixed as 30 September 2024.

    SBI: Amrit Kalash and Weakfare

    SBI has come up with two special FD schemes for its customers. According to the bank’s website, under the ‘Amrit Kalash’ (400 days) scheme, SBI is offering an interest rate of 7.10%. Senior citizens are getting an interest rate of 7.60%. The second FD is ‘SBI Weakfare’. The interest rate offered under this scheme is 7.50%.

    According to the SBI website, the public is being given an additional premium of 50 basis points on the card rate. Customers can avail all these offers till 30 September 2024. Contact your nearest bank branch to avail the schemes.

    Related Articles:-

    IT company Infosys has issued offer letters to more than 1000 freshers

    You will be able to monitor your luggage at the airport, this airline has started this facility

    7th Pay Commission: Govt may announce DA for government employees on this Date

    – Advertisement –

  • 43 pc of WazirX customers to lose their money, demand grows for scrutiny

    Bowen said that the government received bids for 19 GW in total storage capacity, and the winning projects’ total storage capacity will exceed what was initially planned.

  • Global Tech and Durables Market in Recovery Mode

    Global Tech and Durables Market in Recovery Mode

    September 04, 2024,Nuremberg, Germany : 2024 looks like a better year than 2023 for the global Consumer Tech and Durables (T&D) market. Inflation rates are easing, consumer confidence is rising, summer bookings are returning to pre-pandemic levels, and major sporting events such as the Paris Olympics and the European Football Championship in Germany are triggering demand.

    At the mid-year point, most T&D segments are showing steady growth, and the market overall is slowly recovering, albeit still in negative territory. From January to June 2024, the global T&D market recorded a slight decrease in revenue of minus 0.6 percent to 395 billion US-dollars compared to the same period last year, and NIQ-GfK experts are forecasting that the trend will continue, with stable revenue of minus 0.1 percent for the full year 2024.

    Omnichannel remains king

    Inflation and high prices continue to be a top concern of consumers worldwide (GfK Consumer Life study), and 57 percent of global consumers are prepared to switch stores to manage costs (NIQ Consumer Outlook report 2024).

    “Omnichannel retailing remains popular, with 36 percent of total global T&D sales made online in the first half of 2024 – an increase of 0.4 percent from last year. But consumer behavior is changing, driven by price concerns and a desire for best value for money. The global T&D market must keep pace to achieve long-term, sustainable growth,” explains Nevin Francis, GfK’s insights expert for the Tech and Durables industry.

    The progress of Chinese online retailers in Europe is quite notable. In the first half of 2024, the Chinese e-commerce retailer, Temu, ranked second in terms of order volume for computers and electronics, although its average order value is lower due to the smaller-ticket price of items. According to Foxintelligence by NielsenIQ, 77 percent of German Temu shoppers in the last 60 days were repeat buyers.

    Looking at regional differences, consumer spending caution varies depending on purchasing power and local price levels. While Western Europe and Developed Asia experienced year-on-year revenue declines in the first half of the year (1 percent and 9 percent respectively), Eastern Europe (plus 4 percent) and the Middle East (plus 8 percent) grew, and Emerging Asia also returned to growth.

    “Price-conscious consumers are increasingly looking for value for money. As a result, the 15 promotional weeks in a year, such as the mid-year promotion and Black Friday already account for 34 percent of annual T&D revenue,” summarizes Nevin Francis. “Retailers and manufacturers must balance the demand for premiumization with a good price-performance ratio, while focusing on their unique selling proposition. To find that sweet spot, they need to know their target group better than ever before.”

    Specific trends driving the half-year results for global T&D

    GfK panel data shows that the Telecom and Photo categories are back in the black in the first half of 2024, while other T&D categories regaining momentum and starting to recover:

    Consumer Electronics (TVs, soundbars, etc.): minus 2 percent
    Telecom (Smartphones, etc.): plus 2 percent
    IT (Mobile PCs, hardware, etc.): minus 5 percent
    Small Domestic Appliances (Fryers, mixers, etc.): minus 1 percent
    Major Domestic Appliances (ACs, ovens, etc.): minus 2 percent

    Growth in the homeappliances sector is being driven by three key consumer desires: sustainability, simplification and AI-powered intelligence. As personalized features and AI assistants make everyday household tasks more efficient and easier, demand for related devices such as smart ovens and cookers (up 30 percent year-over-year in revenue January 2024 – June 2024) has noticeably increased. In general, convenience-oriented appliances such as robot vacuum cleaners and fully automatic espresso machines (up 9 percent and 7 percent respectively) and more environmentally friendly products such as A-labelled washing machines (up 39 percent in Europe) have gained ground.

    In the IT sector, on the other hand, it is still all about premiumization, especially more memory in devices. In laptops, 16GB RAM is becoming the new standard, with sales volume up 3 percent in the first half of 2024 compared to the same period last year, replacing older models. The same is true for media tablets, where 8GB RAM devices with larger displays of 9 inches and above dominate with an impressive 58 percent volume growth rate. In addition, consumers are upgrading their IT accessories, such as Bluetooth keyboards (up 18 percent) and monitors with refresh rates above 240 Hz (up 90 percent).

    In contrast to the B2C market, which is slowly recovering, the B2B market is still stuck in the red, according to GfK’s distribution panel, with revenues down 6 percent year-on-year in the first half of 2024. Despite this downturn, there are positive signals in certain areas of the mass market. For example, processors (up 4 percent) are growing year-over-year in the first half of 2024. In addition, demand for software was up 8 percent, driven by an increased focus on security and collaboration solutions in the business sector. A standout success in the B2B market is AR/VR glasses, which – although still a niche category – achieved impressive growth of 80 percent, driven mainly by successful product launches beginning of the year.


    Praveen

  • New rules for SSY A/C: Government has issued new rules for Sukanya Samriddhi Yojana (SSY)

    SSY: Do you also have an old Sukanya Samriddhi Yojana account? The Department of Economic Affairs has recently issued new guidelines to regularize irregularly opened savings accounts under NSS.

    The government has issued new rules for Sukanya Samriddhi Yojana (SSY). These rules will come into effect from October 1, 2024 and are being done to remove the errors found in opening the accounts.

    – Advertisement –

    New rules for Sukanya Samriddhi accounts opened for grandparents

    An important update in the guidelines pertains to accounts opened by grandparents under the Sukanya Samriddhi Yojana. As per the new rules, accounts that are not opened by the legal guardian or natural parents will now require mandatory transfer by the guardian to comply with the basic guidelines of the scheme. Earlier, grandparents often opened SSY accounts as a financial security for their granddaughters. However, as per the scheme guidelines, only the legal guardian or natural parents can open and close these accounts.

    • These documents will be required to close or transfer the old account
    • Basic Account Passbook: Which contains all the account details.
    • Birth Certificate of Girl Child: Proof of age and relationship.
    • Proof of relationship with the girl: Birth certificate or other legal documents that establish the relationship.
    • Proof of identity of the new guardian: Government-issued identification card of the parent or guardian.
    • Duly filled application form: Which will be available at the post office or bank where the account is opened.

    After the documents, the first thing to do is to visit the post office or bank where the account was opened. They should inform the authorities about the need to transfer the account guardian as per the new guidelines.

    After this, they have to fill the transfer form provided by the bank or post office. Both the existing account holder (grandparents) and the new guardian (parents) have to sign this form.

    Verification and updates

    After submitting the form and supporting documents, the bank or post office staff will review the request and process the verification. They may also ask for additional information if required. Once the verification is complete, the account records will be updated with the new parent’s information.

    Related Articles:-

    Sukanya Interest Rate: Now more than one PPF and Sukanya accounts will get simple interest

    7th Pay Commission: Govt may announce DA for government employees on this Date

    Aadhar Card: Get your Aadhar updated for free, this is the way to do it online

    – Advertisement –

  • Inauguration of Shree Mahalasa Narayani School by Hon. Shri. Rajendra Vishwanath Arlekar

    Inauguration of Shree Mahalasa Narayani School by Hon. Shri. Rajendra Vishwanath ArlekarOn the 28th of April 2024, Shree Mahalasa Narayani School marked a significant milestone with the inauguration of its new building. The ceremony was graced by the esteemed presence of Hon. Shri. Rajendra Vishwanath Arlekar, Governor of the State of Bihar. The event was graced by notable attendees including Shri John Lee, former Chairman of D-Link Corp. Taiwan; Shri James Yang, former Director of D-Link Corp. Taiwan; and Shri Ray Chang, Chairman of Telebox, Taiwan. Shri Kamalaksha Rama Naik, the President of Shree Mahalasa Narayani Devalaya and Chairman of Shree Mahalasa Narayani Charitable Trust, hosted the event. He is also the Executive Chairman of SMARTLINK Holdings Limited and is the Founder of DIGISOL Systems.

    The new school building stands as a testament to the dedication and vision of Mr. Ken Kao, a visionary whose legacy continues to inspire and shape the future. This establishment is not just a building but a beacon of hope and education, built on the loving memory of Mr. Kao, who played a pivotal role in nurturing dreams and aspirations. His contributions have left an indelible mark, and this school is a symbol of gratitude and reverence towards his remarkable legacy.

    A Legacy of Vision and Dedication
    Shree Mahalasa Narayani Charitable Trust and Shree Mahalasa Narayani Vidyaprasarak Mandal have always been committed to providing quality education and fostering holistic development in students. The new school building is equipped with state-of-the-art facilities, designed to create an optimal learning environment that nurtures both academic and personal growth.

    The inauguration ceremony was a celebration of community, education, and the enduring legacy of Mr. Ken Kao. The presence of such distinguished guests underscored the importance of the occasion and highlighted the collective effort to continue Mr. Kao’s vision of building dreams and shaping the future.

    Honoring Mr. Ken Kao’s Legacy

    Mr. Ken Kao’s dedication to education and his visionary approach have been instrumental in shaping the ethos of Shree Mahalasa Narayani School. The school’s mission is to continue this legacy by providing students with the tools and opportunities they need to achieve their full potential. Mr. Ken Kao’s life, from 1st June 1950 to 2nd April 2008, was marked by his profound impact on many lives. Though he departed too soon, his spirit and vision continue to live on through the foundation and its initiatives. The Shree Mahalasa Narayani School, built in his memory, aims to embody his ideals and inspire future generations.

    Conclusion
    The inauguration of Shree Mahalasa Narayani School’s new building is a significant step towards realizing the vision of providing high-quality education to the community. It stands as a tribute to Mr. Ken Kao’s enduring legacy and serves as a beacon of hope and inspiration for future generations. The Shree Mahalasa Narayani Charitable Trust and Shree Mahalasa Narayani Vidyaprasarak Mandal remain committed to upholding the values and vision that Mr. Kao championed, ensuring that his spirit continues to shine brightly through every student who walks through these doors.


    Mansi Praharaj

  • B2B2C Platform FindMyPlots.com launched in Bengaluru

    4th Sept 2024  Bengaluru, Karnataka, India  FindMyPlots.com has collaborated with Bengaluru-based Omega Innovative Solutions Pvt. Ltd. and launched a B2B2C platform for residential plot promoters to showcase their plots and the buyers to identify their ideal plots across Karnataka.

    Ayub Ur Rahman, Managing Director, Omega Innovative Solutions said that the website addresses challenges faced by both residential plot promoters and plot owners through innovative features of property-buying experience against the existing real estate portals which offer a one-size-fits-all approach.

    This is the complete platform for residential plot promoters and buyers across Karnataka. The company has already finalized deals with top property promoters to market their plots. “We cater exclusively to plots, villas, row houses, and farmhouses unlike other listing portals,” Ayub adds.

    Adhithyan C.M, Technology Consultant for Omega Innovative Solutions explains that currently the residential plot promoters use multiple software to manage their staff, leads and layouts facing difficulty in syncing information among these systems.

    FindMyPlots.com gives promoters a single user-friendly mobile-friendly responsive interface to manage their three main components of their business. The staff management component assigns roles and responsibilities to the staff and monitors their performance in lead conversion. Layout management component controls the information displayed by updating the plot status whenever the plot is booked or sold. Lead management component takes the lead through a 7-step lead conversion path from receiving leads from various sources to registration process and post-purchase feedback.

    The B2C solution aided by interactive mapping enables buyers to discover plots and provides crucial information of plots in terms of area, price, dimensions, road width, and availability. Plot buyers are provided a rich visualization experience to make their decision easier.

    Under B2B solutions, promoters can list their properties for free while gaining access to an integrated application that streamlines marketing efforts, layout management, and lead handling. Promoters are provided with an end-to-end single-point solution for listing as well as managing the plot promotion business.

    The website WhatsApp Chatbot automatically connects with the site visitors and scores over handling multiple leads simultaneously, operating 24×7 without downtime, instant response without delay, non-intrusive communication and updating the collected data.


    Mansi Praharaj

  • 7th Pay Commission: Govt may announce DA for government employees on this Date

    7th Pay Commission: The wait of lakhs of central employees working under the central government is now going to end. The reason for this is that the dearness allowance and dearness relief, which they have been waiting for since January 2024, is going to be announced soon in the month of September.

    The government has also done the calculation of the increase in their dearness allowance according to the consumer price indices. It is just a matter of getting it approved. If the news coming in the media quoting sources is to be believed, then after the second fortnight of this September but before the beginning of Navratri, the government can give a festive gift by announcing an increase in the dearness allowance of central employees.

    – Advertisement –

    For how many months will central employees get dearness allowance?

    If media reports are to be believed, the central government had last announced dearness allowance on 7 March 2024, which was till December 2023. It is effective from 1 January 2024. Earlier, the government had announced the dearness allowance to be implemented from July 2023 on 18 October 2023. The announcement of dearness allowance for 6 months from January 2024 to June 2024 has not been announced yet.

    How much will the dearness allowance of central employees increase?

    It is being said in the media report that on the basis of All India Consumer Price Index, the government had last increased the dearness allowance by about 4 percent in March 2024. With this, the dearness allowance given to the central employees increased from 46 to 50 percent. From January 2024, they are getting dearness allowance at the rate of 50 percent. Now it is being told that on the basis of All India Consumer Price Index, the inflation rate in the country has come down.

    Also Read: Great Pension: By investing Rs 55, you will get a pension of Rs 3000…

    On this basis, the government can increase the dearness allowance of central employees by only 3 percent this time. With this, their dearness allowance will increase from 50 to 53 percent. According to the All India Consumer Price Index, by June 2024, the total dearness allowance has increased to 53.36 percent, but the government does not calculate decimals. That is why it is being estimated that this time an increase of only up to 3 percent in dearness allowance is possible.

    When will the government announce dearness allowance?

    According to media reports, the central government has fixed the dearness allowance (DA) to be given to central employees from January to June 2024. It is being told that in the month of September, the government can announce the dearness allowance of central employees receiving salary under the 7th Pay Commission. It has fixed the rates of dearness allowance on the basis of All India Consumer Price Index (AICPI) from January to June 2024. However, its formal announcement is yet to be made. If sources are to be believed, the government can put its seal on it in the Union Cabinet meeting to be held on September 25.

    Related Articles:-

    New PPF rules from October 1, 2024: Three major changes to Public Provident Fund rules

    2000 rupee notes: RBI gave a big update regarding 2000 note, People have notes worth Rs 7,261 crore.

    New Vande Bharat trains will run from these three cities from Saturday, see route and timing

    – Advertisement –

  • MedBetter Health PA Selected by Centers for Medicare & Medicaid Services to Test Medicare Dementia Care Model

    Davie, FL, September 03, 2024 –Today, MedBetter Health PA announced they have been selected by the Centers for Medicare & Medicaid Services (CMS) to participate in a new Medicare alternative payment model designed to support people living with dementia and their caregivers. Under CMS’ Guiding an Improved Dementia Experience (GUIDE) Model, MedBetter Health PA will be one of almost 400 participants building Dementia Care Programs (DCPs) across the country, working to increase care coordination and improve access to services and supports, including respite care, for people living with dementia and their caregivers.

    “CMS is excited to partner with MedBetter Health PA under the GUIDE Model,” said CMS Administrator Chiquita Brooks-LaSure. “GUIDE is a new approach to how Medicare will pay for the care of people living with dementia. The GUIDE participants are envisioning new ways to support not only people living with dementia, but also to reduce strain on the people who care for them, so that more Americans can remain in their homes and communities, rather than in institutions.”

    Launched on July 1, 2024, the GUIDE Model will test a new payment approach for key supportive services furnished to people living with dementia, including: comprehensive, person-centered assessments and care plans; care coordination; 24/7 access to an interdisciplinary care team member or help line; and certain respite services to support caregivers. People with dementia and their caregivers will have the assistance and support of a Care Navigator to help them access clinical and non-clinical services such as meals and transportation through community-based organizations.

    MedBetter Health PA participation in the GUIDE Model will help people living with dementia and their caregivers have access to education and support, such as training programs on best practices for caring for a loved one living with dementia. The GUIDE Model also provides respite services for certain people, enabling caregivers to take temporary breaks from their caregiving responsibilities. Respite is being tested under the GUIDE Model to assess its effect on helping caregivers continue to care for their loved ones at home, preventing or delaying the need for facility care.

    GUIDE Participants represent a wide range of health care providers, including large academic medical centers, small group practices, community-based organizations, health systems, hospice agencies, and other practices.

    This model delivers on a promise in the Biden Administration’s Executive Order on Increasing Access to High-Quality Care and Supporting Caregivers and aligns with the National Plan to Address Alzheimer’s Disease.


    Praveen