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  • State Bank of India partners with HCLSoftware to digitally trans

    NOIDA, India, April 27, 2024: HCLSoftware, the software program enterprise unit of HCLTech, at the moment introduced that it has been chosen by State Bank of India (SBI) for his or her MarTech answer as half of SBI’s digital transformation program.

    As half of the five-yearagree ment, HCLSoftware will deploy the HCL Unica platform to allow SBI to digitally rework its buyer interplay framework and supply hyper-personalized communication throughout the financial institution’s numerous digital advertising channels, whereas adhering to the Digital Personal Data Protection Act (DPDPA) and different stringent safety necessities.

    HCL Unica, with its superior Customer Data Platform, AI capabilities and complete marketing campaign administration instruments, would leverage real-time information to considerably enhance SBI’s skill to have interaction with its clients. It will assist facilitate advanced, multi-channel digital advertising campaigns, enhancing buyer engagement precision and relevance.

    “The partnership underscores the energy of the progressive capabilities of HCL Software to ship digital transformation at scale. We are proud that HCL Unica would allow one of the biggest banking transformations on this planet and assist SBI ship superior buyer engagement and expertise,” mentioned Rajiv Shesh, Chief Revenue Officer, HCLSoftware.

    HCL Unica’s highly effective Customer Data Platform will arrange and combination SBI’s buyer information from numerous touchpoints, making a unified view that facilitates deeper insights and focused advertising initiatives.


    Mansi Praharaj

  • Kia’s net profit up 32.5 pc in Q1; India sales drop due to aging models, geopolitical factors

    Seoul, April 26: Automaker Kia said on Friday that its first-quarter net profit rose 32.5 per cent (year-on-year), backed by increased sales of SUVs, minivans and hybrid models.

    Net profit for the January-March period came to 2.8 trillion won ($2 million) on a consolidated basis, compared with a profit of 2.1 trillion won a year ago, the company said in a regulatory filing.

    Its overseas sales grew owing to strong demand in major regions, such as North America and Europe.

    However, sales in some emerging markets, such as “India and the Middle East, decreased compared to the previous year due to factors such as aging models and geopolitical factors”.

    Kia said it expects to face challenging business environments due to several factors, such as persistent geopolitical risks, sluggish economic growth and dampened consumer confidence due to high interest rates and inflation.

    “The earnings beat market expectations. The average estimate of net profit by analysts stood at 2.24 trillion won,” according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

    The company managed to improve its on-year performance despite a slight decrease in the number of vehicles sold. Kia sold 137,871 units in South Korea while shipping 622,644 overseas.

    The combined 765,515 units sold during the period represent a 1 per cent drop from last year.

    Kia attributed its improved performance to an increase in its average selling price from its expanded portfolio of eco-friendly vehicles, such as hybrids, as well as SUVs and minivans.

    Kia said it sold 93,000 hybrid units and 44,000 electric vehicles, up 30.7 per cent and 7.9 per cent from last year, respectively.

    The company plans to utilise new models and high-profit models, such as the Carnival hybrid and K4, to sustain profitability in the US market.

    In Europe, Kia plans to enhance its EV lineup to strengthen its brand image as a leader in the competitive EV sector.

  • Global connected car sales to exceed 500 million in 2030, India to be among top nations

    New Delhi, April 26: Global connected car sales are likely to exceed 500 million in the 2024-2030 period, and about nine out of 10 such vehicles sold in 2030 will have embedded 5G capability, a report showed on Friday.

    China is expected to lead the connected car sales market, followed by the US, India, Japan and Germany, according to Counterpoint Research.

    “India is set to experience the fastest growth in connected car sales between 2023 and 2030. Indian automakers are gradually catching up with their international counterparts and enhancing their digital offerings to improve the driving experience,” said senior analyst Soumen Mandal.

    At present, Germany leads in terms of connectivity penetration, but China is expected to achieve 100 per cent connectivity penetration by 2028.

    China, the US, India, Japan and Germany are projected to collectively account for over two-thirds of global connected car sales by 2030.

    Over the last decade, 4G was the major cellular connectivity embedded in cars.

    However, the use cases for the cars rolling out over the next decade will warrant 5G connectivity to satisfy the new advanced mobility use cases.

    Senior analyst Parv Sharma said that currently, more than 96 per cent of connected cars are powered by 4G while 5G is still picking up.

    “The higher price of 5G telematics devices, lack of 5G infrastructure and unavailability of killer use cases have been the major reasons for 5G’s slow growth earlier in the decade,” Sharma added.

  • What is Inheritance tax: What is the inheritance tax that is levied on ancestral property? When was this tax imposed in India

    What is Inheritance tax: What is the inheritance tax that is levied on ancestral property? When was this tax imposed in India
    What is Inheritance tax: What is the inheritance tax that is levied on ancestral property? When was this tax imposed in India

    In the US, inheritance tax applies solely to a portion of inherited property. That too when the worth of this property exceeds a restrict. Property as much as the worth of 10 lakh {dollars} is exempted from this tax.

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    Should the property you inherit out of your grandfather, great-grandfather or father be taxed? Of course you’ll reply this in the destructive. But are you aware what is this Inheritance Tax? After all, why has there been elevated pleasure in political circles relating to this tax? But earlier than that, know what this inheritance tax is.

    What is Inheritance Tax?

    Inheritance Tax, as the identify suggests, is a tax levied on inherited property. If you may have inherited any property out of your grandparents or father, then this tax is relevant on it. Don’t fear, tax is not levied in India but. But the complete matter began when Sam Pietrada stated that in America, when a father provides property to his son, the authorities takes 55 % of it.

    Talking about America, there is no federal legislation on inheritance tax. However, many states impose two forms of taxes: inheritance tax and property tax. Estate tax is levied on the complete worth of the deceased particular person’s property. Inheritance tax is levied on individuals who inherit belongings or property from their ancestors.

    Inheritance Tax: How is it calculated?

    Inheritance tax applies solely to a portion of the property inherited. That too when the worth of this property exceeds a restrict. Property as much as the worth of 10 lakh {dollars} is exempted from this tax. Tax charges on property above this vary from 1 % to 18 %. According to an article in Investopedia, in six states of America, if the spouse of a deceased particular person is alive, he is exempted from inheritance tax.

    Inheritance Tax: Was this tax ever levied in India?

    Inheritance tax in India was abolished in 1985. It was abolished by the authorities of former Prime Minister Rajiv Gandhi. When this legislation was in drive, this tax was levied on the property transferred to an individual’s kids or grandchildren upon his dying. Under the Estate Duty Act, 1953, property obligation was levied as much as 85 % of the worth of inherited property.

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  • DBS Bank India hosts an Exclusive Screening of Netaji Subhas

    DBS Bank India hosts an Exclusive Screening of Netaji Subhas Chandra Bose: A Singapore SagaMumbai, India  twenty sixth April 2024:  DBS Bank India hosted an unique, invite-only screening of the documentary “Netaji Subhas Chandra Bose: A Singapore Saga” in Delhi.

    The occasion was attended by dignitaries corresponding to H.E Mr. Simon Wong – Singapore High Commission, Mr. Subhash Chandra- CEO National Compensatory Afforestation Fund Management and Planning Authority (National CAMPA), Dr. B Srinivas- Secretary, National Medical Commission, Ministry of Health, Mr. Vijay Kumar Singh- Member Finance, Delhi Development Authority, Major General Sharad Kapur- YSM,SM,VSM (Retd), Ex Director General, Resettlement, Adv. Priyadharshni Rahul- Chairman, Sansad Ratna Awards Committee and Ms. Sunita Mohanty – CIO, Invest India, Ministry of Commerce. Rajat Verma, Managing Director and Head of Institutional Banking Group at DBS Bank India, delivered the opening remarks, kicking off the occasion.

    The documentary is commissioned by the Tagore Society Singapore and sponsored by DBS Bank. It captures Netaji Subhas Chandra Bose’s position in spearheading the Azad Hind motion from Singapore. Scripted and directed by Lakshmi Raman Venkat from Gravitas Media, it options partaking narration by famend quiz grasp Siddhartha Basu.

    Through the eyes of a Singaporean historical past buff recounting Netaji’s life to a younger customer from India, the documentary takes viewers on a fascinating journey. It skilfully hyperlinks landmarks that performed an important position in Netaji’s journey to the development of the Indian freedom motion.

    The documentary delves into contributions of the Indian National Army (INA) and the outstanding involvement of ladies, significantly by the institution of the Rani of Jhansi Regiment. It additionally includes a reenactment of Netaji’s ‘Great Escape’ in January 1941, filmed at Netaji Bhawan in Kolkata. In the documentary, Subhashini Ali, the daughter of Dr. Lakshmi Sahgal (nee Swaminthan), one of Netaji’s closest aides within the INA, shares anecdotes about her mom’s position within the Rani of Jhansi Regiment.

    Shoma Narayanan, Managing Director, and Head– Group Strategic Marketing & Communications, DBS Bank India, stated, “We are honoured to be related to a compelling documentary that captures the connection between India, Singapore, and a historic determine: Subhas Chandra Bose. His spirit of resilience and dedication continues to encourage generations in each nations. Through our collaboration with the Tagore Society Singapore, we wished to commemorate a interval of historical past that transcended geographical boundaries. This affiliation embodies our dedication to creating significant cultural experiences for purchasers and communities, setting us aside as a unique variety of financial institution.”

    The manufacturing crew from Lakshmi’s firm, Gravitas Media, comprising Rajendra Nanoskar, Prakash Parmar, Santosh Mithbawkar, and Wilson Thomas, meticulously introduced Netaji’s story to life. Their efforts unearthed outstanding tales of Netaji’s time in Singapore, enriching the documentary’s narrative.

    DBS Bank India, the biggest international financial institution within the nation by department presence, continues to curate experiences that transcend conventional banking. Through strategic partnerships, the financial institution goals to interact a broader viewers and reinforce its model promise of ‘Live extra, Bank much less’.


    Mansi Praharaj

  • SANY Heavy Industry India Pvt Ltd Opens Raghunath Machinery

    Mumbai – April 25, 2024 – SANY Heavy Industry India Pvt Ltd, a number one world supplier of building equipment and tools, was happy to announce the grand opening of HO, M/s Raghunath Machinary. The inauguration ceremony, presided over by Mr. Deepak Garg VC & MD Sany India & South Asia, happened on April 24, 2024.

    Mr Deepak Garg at Rayagada Launch

    The institution of this state-of-the-art facility underscored Sany Heavy Industry’s dedication to offering unparalleled service and assist to its prospects in South Odisha and Western Odisha areas. The strategic location of the workplace enabled the corporate to supply seamless entry to gross sales, service, and spare components, thereby enhancing buyer satisfaction and operational effectivity.

    “We have been delighted to announce the opening of Raghunath Machinary Head workplace at Rayagada, Odisha,” mentioned Mr. Deepak Garg, Vice Chairman and Managing Director of SANY Heavy Industry India Pvt Ltd.

    “This growth displays our dedication to higher serving our valued prospects within the area. By bringing our complete vary of providers nearer to them, we aimed to additional strengthen {our relationships} and ship superior worth.”

    The inauguration ceremony was attended by esteemed visitors, dignitaries, trade companions, and members of the media. It included a ribbon-cutting ceremony adopted by a facility tour, showcasing the superior infrastructure and cutting-edge applied sciences included into the workplace.

    “This new workplace in Rayagada will function a hub for gross sales, service, and spare components, enabling us to deal with the evolving wants of the development trade in Odisha and Western Odisha.”

    Customers can anticipate to obtain complete help from a devoted group of execs educated to ship immediate and environment friendly service at this strategically positioned workplace at Rayagada. Raghunath Machinery can also be planning to open regional places of work on the following areas throughout Odisha: Jaypore, Sambalpur, Bolangir, and Bhawanipatna, additional increasing accessibility and assist for patrons throughout the area.


    Mansi Praharaj

  • BMW’s another all-electric car launched in India

    New Delhi, April 25: Luxury car maker BMW on Thursday launched another all-electric car, BMW i5 M60 xDrive, in India at an ex-showroom price of Rs 1,19,50,000.

    The new car comes available in Alpine White as non-metallic paintwork and in the following metallic paintworks, which include M Brooklyn Grey, M Carbon Black, Cape York Green, Phytonic Blue, Black Sapphire, Sophisto Grey, Oxide Grey, and Mineral White.

    It is now available at all BMW dealerships across the country as a Completely Built-Up Unit (CBU) model.

    “It brings together the legacy of eight generations of the sportiest executive sedan — the ‘5’, adrenaline-laden performance of ‘M’ and the sustainability of ‘i’,” Vikram Pawah, president of BMW Group India, said in a statement.

    The car comes with a standard two-year warranty for unlimited kilometres. Repair Inclusive can extend warranty benefits from the third year of operation to a maximum fifth year without any mileage limitation, according to the company,

    The high-voltage battery in the BMW i5 M60 xDrive is covered by a warranty valid for eight years or up to 160,000 kilometres.

    BMW safety technologies include six airbags, attentiveness assistance, dynamic stability control (DSC), including cornering brake control (CBC), an electric parking brake with auto hold, side-impact protection, and others.

    The car accelerates from 0 to 100 km/hr in 3.8 seconds, with a top speed of 230 km/hr.

    The BMW i5 M60 xDrive comes with a complimentary BMW Wallbox charger with installation. It can be integrated at home to enable safe and convenient charging up to 11 kW (kilowatt), the company said.

    The 22 kW AC Charging Professional is also available as an option.

  • PIO journalist Avani Dias claims she was forced to leave India; govt sources call it “mischievous”

    Australian journalist Avani Dias claimed right this moment that she was not allowed to cowl the final elections in India and was compelled to leave the nation. But authorities sources mentioned that her allegation was incorrect and deceptive.

    Journalist Avani Dias
    Avani Dias, an Australian journalist of Indian origin, claims she was denied a visa extension to cowl the final elections in India, however authorities sources say that her visa extension was authorized on the identical day when she paid the requisite price. Photo courtesy: X/@AvaniDias

    Dias, an individual of Indian origin and the South Asia Bureau Chief of the Australian Broadcasting Corporation (ABC), left India on April 19. She claimed right this moment that she was denied a visa extension by the Government of India as a result of her reviews have been seen to have “crossed a line”.

    She wrote on the social community X right this moment: “Last week, I had to leave India abruptly. The Modi Government advised me my visa extension could be denied, saying my reporting ‘crossed a line’. After Australian Government intervention, I obtained a mere two-month extension… lower than 24 hours earlier than my flight.

    “We have been additionally advised my election accreditation wouldn’t come by means of due to an Indian Ministry directive. We left on day certainly one of voting within the nationwide election in what Modi calls ‘the mom of democracy.’”

    Refuting these allegations, authorities sources mentioned that Dias was discovered to have violated visa guidelines whereas endeavor her skilled pursuits.

    In spite of this, on her request, she was assured that her visa could be prolonged for the protection of the final elections, the sources mentioned, including that her earlier visa was legitimate until April 20.

    “The competition of Avani Dias, the South Asia Correspondent of Australian Broadcasting Corporation that she was not allowed to cowl elections [in India] and was compelled to leave the nation shouldn’t be right, deceptive and mischievous,” mentioned a supply.

    The authorities sources mentioned that Dias paid the visa extension price on April 18 — with simply two days left on the validity of the earlier visa — and her visa was prolonged until the top of June 2024 the identical day.

    The Australian journalist, nonetheless, selected to leave India on April 20, mentioned the sources. At the time of her departure, she held a sound visa and her visa extension additionally stood authorized, they added.

    Her level about not being given permission to cowl elections was additionally factually incorrect, the sources mentioned.

    Coverage of election actions exterior of cubicles was permitted to all Journalist Visa holders, they mentioned. “Authority letters are required just for entry to [the inside of] polling cubicles and counting stations. This, nonetheless, can’t be processed whereas the visa extension is below course of,” a supply clarified.

    “It is pertinent to notice that different ABC correspondents — Meghna Bali and Som Patidar — have already acquired their letters,” the supply added.

  • PIO journalist Avani Dias claims she was forced to leave India; govt sources call it “mischievous”

    Australian journalist Avani Dias claimed as we speak that she was not allowed to cowl the final elections in India and was compelled to leave the nation. But authorities sources stated that her allegation was incorrect and deceptive.

    Journalist Avani Dias
    Avani Dias, an Australian journalist of Indian origin, claims she was denied a visa extension to cowl the final elections in India, however authorities sources say that her visa extension was authorized on the identical day when she paid the requisite charge. Photo courtesy: X/@AvaniDias

    Dias, an individual of Indian origin and the South Asia Bureau Chief of the Australian Broadcasting Corporation (ABC), left India on April 19. She claimed as we speak that she was denied a visa extension by the Government of India as a result of her experiences had been seen to have “crossed a line”.

    She wrote on the social community X as we speak: “Last week, I had to leave India abruptly. The Modi Government advised me my visa extension can be denied, saying my reporting ‘crossed a line’. After Australian Government intervention, I acquired a mere two-month extension… lower than 24 hours earlier than my flight.

    “We had been additionally advised my election accreditation wouldn’t come by means of due to an Indian Ministry directive. We left on day considered one of voting within the nationwide election in what Modi calls ‘the mom of democracy.’”

    Refuting these allegations, authorities sources stated that Dias was discovered to have violated visa guidelines whereas endeavor her skilled pursuits.

    In spite of this, on her request, she was assured that her visa can be prolonged for the protection of the final elections, the sources stated, including that her earlier visa was legitimate until April 20.

    “The rivalry of Avani Dias, the South Asia Correspondent of Australian Broadcasting Corporation that she was not allowed to cowl elections [in India] and was compelled to leave the nation will not be appropriate, deceptive and mischievous,” stated a supply.

    The authorities sources stated that Dias paid the visa extension charge on April 18 — with simply two days left on the validity of the earlier visa — and her visa was prolonged until the top of June 2024 the identical day.

    The Australian journalist, nevertheless, selected to leave India on April 20, stated the sources. At the time of her departure, she held a legitimate visa and her visa extension additionally stood authorized, they added.

    Her level about not being given permission to cowl elections was additionally factually incorrect, the sources stated.

    Coverage of election actions exterior of cubicles was permitted to all Journalist Visa holders, they stated. “Authority letters are required just for entry to [the inside of] polling cubicles and counting stations. This, nevertheless, can’t be processed whereas the visa extension is underneath course of,” a supply clarified.

    “It is pertinent to word that different ABC correspondents — Meghna Bali and Som Patidar — have already acquired their letters,” the supply added.

  • Gold Storage Limit In India: How much gold you can keep at home without fearing Income Tax raid?

    Gold Storage Limit In India: How Much Gold You Can Keep At Home
    Gold Storage Limit In India: How Much Gold You Can Keep At Home

    Gold Storage Limit : Buying gold is taken into account very auspicious. Apart from this, additionally it is an excellent choice for funding. Many folks additionally purchase gold upfront for his or her youngsters’s marriage. Let us know on this article how much gold we can keep at home in bodily type. If we now have bought digital gold, what are the tax guidelines concerning it?

    Gold Storage Limit In India: Indians like gold very much. People typically like to present gold as a present throughout marriage, whereas many individuals put money into gold. If we discuss girls, additionally they wish to put on gold jewelry.

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    People begin shopping for gold upfront and retaining it at home for his or her youngsters’s marriage. In such a state of affairs, many individuals have no idea that in the event that they keep greater than a restrict of gold in the home then they’ve to present account of it.

    Investing in gold is an excellent choice however it is vitally essential to keep it inside the prescribed restrict at home. If we keep extra gold than the restrict (Gold Store Rule in India), then we should give account to the Income Department.

    To keep away from authorized motion it is very important know the precise quantity of gold to keep. Today we are going to inform you how much gold you can keep at home.

    As per the principles of the Central Board of Direct Taxes (CBDT), no tax is levied on the sources of income (agricultural revenue, inherited cash, buy of gold as much as the restrict) to get revenue and exemptions. If the gold in the home is underneath the prescribed restrict, then the Income Tax official can’t take gold jewelery from the home throughout the search (Gold Jewelery Storage Rule).

    How much gold can you keep

    • An single lady can keep as much as 250 grams of gold at home.
    • An single man can keep solely 100 grams of gold.
    • At the identical time, a married lady can keep as much as 500 grams of gold at home.
    • The restrict for retaining gold at home for a married man is 100 grams.
      provision of tax on gold
    • Now we can purchase digital gold together with bodily gold. In such a state of affairs, tell us what’s the restrict for retaining gold and what are the tax guidelines concerning it.

    What are the tax guidelines concerning bodily gold?

    According to the CBDT round, single males or married males can maintain solely 100 grams of bodily gold. Whereas an single lady can keep 250 grams of gold and a married lady can keep 500 grams of gold in bodily type (Gold Storage at Home).

    If gold is bought inside 3 years of buying it, the federal government imposes Short-Term Capital Gain Tax on it. At the identical time, on promoting gold after 3 years, Long-Term Capital Gain Tax must be paid.

    What are the tax guidelines concerning digital gold?

    Digital gold offers increased returns as in comparison with bodily gold. Apart from this, there isn’t a restrict on buying digital gold. If traders want, they can purchase digital gold as much as Rs 2 lakh in a day. Short-term capital positive aspects tax will not be levied on digital gold, whereas long-term capital positive aspects tax must be paid at the speed of 20 %.

    Currently many individuals put money into Sovereign Gold Bond (SGB). This is a gold funding scheme. In this, a most of 4 kilograms of gold can be invested in a yr. In this, rate of interest of two.5 % per yr is obtainable. The curiosity obtained in that is taxed. At the identical time, SGB turns into tax free after 8 years. There is not any GST to be paid in SGB.

    Long-term capital positive aspects tax is levied on mutual funds and gold ETFs held for greater than 3 years.

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