Electronic Financial News

free trade agreements (FTAs) such as Japan, South Korea and Asean. This will ensure there is no circumvention of the restrictions kicking in on November 1 through the treaty route. India said on Thursday that imports of these electronic goods that have been free until October 31 will require a licence.

ICICI Bank to the Videocon group turned into non-performing assets (NPAs) of more than Rs 1,000 crore, the CBI has claimed in the charge sheet filed against the bank's former CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon founder Venugopal Dhoot. The over 10,000 pages-long charge sheet was filed recently before a special court for the Central Bureau of Investigation cases here. The Kochhars and Dhoot are now out on bail. After Chanda Kochhar became MD & CEO of ICICI Bank, from May 1, 2009, six 'Rupee Term Loans' (RTLs) were sanctioned to Videocon Group. Between June 2009 to October 2011, RTLs of a total of Rs 1,875 crore were sanctioned to the group by the bank, the charge sheet said. Chanda Kochhar was chairperson of the two-member Committee of Directors which sanctioned RTL of Rs 300 crore in August 2009 to Videocon International Electronics Limited (VIEL). Further, she was a member of the committee of senior managers (recommending committee) as well as credit committee (sanctioning committee) for sanctioning RTL of Rs 750 crore to Videocon Industries Limited (VIL) in October 2011, the CBI charge sheet said. She was a member of the committees which sanctioned various loan limits to Videocon Group even after 2012, it added.

₹32 lakh during the Q1 compared to ₹3.8 crore during the same period last fiscal year. The revenue of the company jumped 3% during the quarter to ₹90.3 crore compared to ₹86.6 crore during the corresponding quarter last fiscal. More to come…

IT hardware manufacturers including global PC makers have registered for manufacturing laptops, tablets and personal computers in India, an official source said on Saturday. The official, without naming any company, said that IT hardware production in the country is expected to repeat the success that has been achieved in mobile phone manufacturing under the production linked incentive (PLI) scheme.

₹1,39,579 crore for the next phase of Bharat Net to make the 5G network available to remote areas of the country, said Ashwini Vaishnav, minister of communications and electronic & information technology. “With a system of ring topology, we plan to reach 6.4 lakh villages within the next two years from the current 1.94 lakh connected villages under the Bharat Net Udyami Yojana," he said.

Wordle is to be played on the NYT website or the Wordle mobile application. The single-player game requires you to guess a five-letter word, in six chances. Here are the clues to this Saturday's word puzzle, the Wordle 777 for August 5, 2023. Read on to know more.

NEW DELHI: The Union home minister and minister of cooperation Amit Shah is scheduled to inaugurate the digital portal of the Central Registrar of Cooperative Societies (CRCS) office in Pune on August 6. This move by the Ministry of Cooperation aligns with Prime Minister Narendra Modi’s vision of “Sahkar se Samridhi," which aims to bolster the cooperative movement in the nation.

Amazon is providing an extra 10 per cent instant discount for transactions made with SBI Credit Card or through EMI. It will feature substantial discounts on various products including smartphones, laptops, TVs,smartwatches, audio devices and other electronics. We have curated a list of best deals on smartwatches for you.

HSN 8741 category. As per the government notification, the import of restricted items will be allowed only against a valid license. Reacting to this, Hari Om Rai, Chairman and Co-founder of Lava International, praised the government's initiative and called it a "leadership move" that will benefit both the industry and consumers.

Q1 results today: Key benchmark indices of the Indian stock market snapped its three days losing steak and ended higher on Friday. This upside on Dalal Street has triggered trend reversal speculations as well. However, for intraday traders who believe in stock specific strategy, Q1 results 2023 announced on weekend would be crucial as these quarterly early earning will impact stock movement on Monday next week.

In a notification issued late night, the Directorate General of Foreign Trade (DGFT) gave «liberal transitional arrangements» for such imports and said that its August 3 notification on import restrictions will be effective from November 2023. «Keeping in view global supply chain arrangements and long-term commitments of the industry stakeholders, liberal transitional arrangements are notified for these imports till October 31, 2023,» said an official. As per the notification, import consignments can be cleared till October 31, 2023, without a licence for restricted imports.

The Big Money Show co-host Brian Brenberg speaks with voters in Fox Square about Americans credit rating downgrade.

Also read: Travel to Russia becomes easier: Indian passport holders can avail e-visa facility from August 1 The Ministry of External Affairs (MEA) stated that if applicants use DigiLocker to upload their documents, they won't need to carry the original physical copies during the application process, as reported by government scheme info. This move is expected to streamline the processing time and enhance the efficiency of the passport application procedure.

Austria’s leader is proposing to enshrine in the country’s constitution a right to use cash, which remains more popular in the Alpine nation than in many other places

NEW DELHI : The government has extended the deadline for implementing import restrictions on laptops, tablets, and servers to 1 November, a late evening government notification said. According to the notification from the Directorate General of Foreign Trade, import consignments can be cleared without a licence until 31 October. “There will be a transition period for this to be put into effect, which will be notified soon," Rajeev Chandrasekhar, minister of state for electronics and information technology, said in a post on social media X on Friday before the notification was issued.

Make in India program, which offers incentives for manufacturing electronics and other high-tech goods locally, with eligible companies standing to recoup millions of dollars of their investments. The country initially targeted the program at smartphones and has since expanded it to other areas, including drones and semiconductors as well as tech hardware.

TikTok owner ByteDance, another highly valued private tech company that counts private-equity funds among its shareholders, shelved its IPO plans. In 2022, the average annual return for China private-equity funds, including venture capital funds, was minus 5.6%, according to estimates from data-analytics firm Burgiss. That was the lowest since the global financial crisis in 2008, although it was better than the global average last year.

PCs, along with Rs 17,000-crore IT hardware PLI, will create multi-billion dollar local production capacity and import dependency will nosedive in the next 2-3 years, industry players said on Friday. The government has made it mandatory for importers of laptops, tablets and certain types of computers to get a valid licence, with immediate effect for security reasons and to promote domestic manufacturing.

NEW DELHI : The air freight sector is navigating a transition at a time the world is recovering from the covid pandemic and the intensified Russia-Ukraine conflict, Blue Dart Express Ltd managing director Balfour Manuel said. Unpredictable demand from the US and Europe, compounded by domestic disturbances, has posed difficulties for India’s air cargo sector, Manuel said in an interview, adding the company’s outlook remains buoyant for a bounceback in freight volumes. “Air cargo trade from India is facing challenges due to demand fluctuations from the US and Europe, along with certain domestic disruptions.

NEW DELHI : Domestic demand for smartphones continued to be tepid at best, as India saw a fourth straight quarter of annualized shipment declines. A 3 August report by market researcher International Data Corp (IDC) India said shipments of smartphones in India fell 3% year-on-year (y-o-y) to 34 million units shipped during the period—after registering 16%, 27% and 10% y-o-y shipment drops in the three quarters preceding June.

MUMBAI/NEW DELHI : Foreign holidays, gold coins, travel vouchers, and cash incentives are some of the perks consumer electronic brands and retailers are offering store promoters and retail staff this festive season to accelerate sales. “We are doubling the incentives for our staff and also the brand promoters who work in the store. The brands are also expected to roll out higher incentives this festive season which can range from electronic goods to holiday packages," said Nikunj Patel, president of All India Mobile Retailers Association (AIMRA), Gujarat.