Bussiness

‘Need to blend IR, HR practices for growth of organisation’

HRD Forum of Vidarbha Industries Association (VIA) organised a webinar on ‘Dynamics of Industrial Relations in India’ recently. The keynote speaker was Dr Rajen Mehrotra, former International Labour Organization (ILO) official, former Corporate Head of HR of ACC Ltd, former Corporate Head of Manufacturing and HR of Novartis India Ltd. Mehrotra said, “There is need to innovate and blend Industrial Relations (IR) and Human Resource (HR) practices for the benefit of employees, workers and growth of the ..

KK Mishra Classes launches free coaching for BPL aspirants

KK MISHRA announces complete fee waiver for IIT-JEE and NEET aspirants of BPL family. With schools and colleges still shut due to COVID-19 pandemic, it has significantly affected students, especially those belonging to the below poverty line (BPL) of the society...

Palm oil imports rise 56.50 pc in March

INDIA’S import of palm oils rose 56.50 per cent to 5,26,463 tonne in March this year as refiners were discouraged to import sunflower oil due to high prices, industry body Solvent Extractors Association (SEA) said...

Govt should give financial aid to traders: NVCC

Nag Vidarbha Chamber of Commerce (NVCC) has opposed the strict restrictions imposed by the Government from April 15 to April 30 to contain the cases of coronavirus. Ashwin Mehadia, President of NVCC said, the State Government has not given any relaxation to the traders while initiating directives to ‘Break the Chain’. It has not taken traders into confidence and has directly announced the implementation of the strict restrictions. Traders are one of the important pillars in the economy of the country. ..

Most cos in India look to fill open roles internally

THE country’s competitive talent market is fuelling a significant internal shifts within the organisation as 93 per cent of the companies polled in India said they are looking to fill open roles internally in the post-COVID-19 era, according to a report. According to LinkedIn’s ‘Future of Talent’ report, more than nine in 10 (93 per cent) companies in India are looking to fill open roles internally in the post-COVID-19 era. The report stated that seven in 10 companies in India said the main reason ..

Most cos in India look to fill open roles internally

THE country’s competitive talent market is fuelling a significant internal shifts within the organisation as 93 per cent of the companies polled in India said they are looking to fill open roles internally in the post-COVID-19 era, according to a report. According to LinkedIn’s ‘Future of Talent’ report, more than nine in 10 (93 per cent) companies in India are looking to fill open roles internally in the post-COVID-19 era. The report stated that seven in 10 companies in India said the main reason ..

Plan district-wise strategies to contain COVID: CAIT to Union Health Minister

In pursuance of Prime Minister Narendra Modi’s call for creation of small containment zones to fight COVID-19 pandemic, the Confederation of All India Traders (CAIT) in a communication has suggested to Union Health Minister Dr Harsh Vardhan to draw a COVID-19 fighting strategy based on district-wise fundamental principles. There are 718 districts in the country and each district has its own distinction and diversified nature...

Vindhya e-Infomedia to start branch in city soon

After rendering its BPO services through persons with disabilities (PWD), women and people from the rural and disadvantaged sections of the society, Vindhya e-Infomedia Pvt Ltd,a Bangalore headquartered company has firmed up plans to open its branch in IT Park, Parsodi. Pavithra YS, Founder and Managing Director of Vindhya e-Infomedia is in talks with some NGOs in and around Nagpur, to provide employment to physically challenged people...

Search options other than lockdown: Transporters

The transporters are already facing numerous problems and the current lockdown and night curfew has added to their woes. In order to curtail the rising COVID-19 cases, the Government has imposed lockdown resulting in economic activity coming to a halt. “With low business volumn and no demand, thousands of trucks are standing idle. The lockdown is no solution to the rising number of COVID-19 cases. Instead the Government should search for other alternatives and give boost to economic activity which ..

Fund raising via NCDs drops 29% in FY21 on decline in credit ratings

FUND raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21 due to decline in credit ratings and escalated risk of default on COVID-19 induced disruptions in capital intensive businesses. Going forward, experts say, the ongoing financial year (2021-22) will see some attractive numbers in non-convertible debenture (NCD) fund raising...

TiE Nagpur’s ‘Biz Showcase Series’ on 15th

TiE Nagpur’s second session under its new initiative ‘Business Showcase Series.’ The session is aimed to highlight the disruption in technology, in a new era of new normal, showcasing the venture’s products and how these tech -based ventures are trying to solve current challenges with their products and services. Nitin Sachdeva, President TiE Nagpur will be in conversation with the speakers Abhijeet Khandagale, Founding Partner – ekatra and Praveen Sahu, Co-Founder – Wekirana. For event registration ..

‘Stock market to witness rally after drop in COVID-19 cases’

After a spectacular run up from the past one year, the barometer of the economy -- Sensex -- has crashed by 1,707.94 points to close at 47,883.38 level on Monday. “Rising COVID cases has applied temporary brakes to the Indian stock market. Once the COVID cases come down the stock market could possibly witness a massive rally,” said CA Kailash Jogani while speaking to The Hitavada. He said that the second COVID wave has brought a surge in positive cases and the Government is considering another round ..

Direct on-line players to stop biz activities: NVCC

Nag Vidarbha Chamber of Commerce (NVCC) has demanded the State administration that during the limited period of lockdown, not only traders but the services of the e-commerce players should also be closed. Ashwin Mehadia, President of NVCC said, Maharashtra Chief Minister Uddhav Thackeray has announced the lockdown from April 6 to April 30 to break the chain of coronavirus. However, excluding the essential services, he had asked all the traders to shut down their shops. The Chief Minister had not ..

HFCs likely to witness growth of 8-10 per cent in FY22: Report

WITH demand for housing loans picking up during the last two quarters of fiscal 2020-21, housing finance companies (HFCs) are likely to witness a growth rate of 6-8 per cent during the year and 8-10 per cent in FY2021-22, says a report. The on-book portfolio growth moderated for HFCs in the first nine months of FY2021 (compared to March 2020) to 4.3 per cent (excluding the portfolio of one large player, which had sizeable write-offs) from portfolio growth of 6 per cent (Y-o-Y) in FY2020. Icra Ratings ..

‘Earn value by improving biz processes’

Business processes are the soul of all organisations for delivering value to its customers. However, to make it more effective and efficient, entrepreneurs should make continuous efforts for improving its strategic and operational processes. “Business processes aims at elimination of wastes, minimise errors and improve agility in business,” said CA Nitin Alshi while addressing a webinar on the topic ‘Improvement in business processes’ organised by COSIA, Vidarbha. He further said, “Businesses need ..

IMT, Nagpur organises international meet on ‘Role of HR in new normal’

Institute of Management Technology (IMT), Nagpur has organised an international conference on ‘Role of HR in the new normal.’ The inaugural session began with a welcome address by Dr Vikramaditya Ekkirala, conference co-chair and a senior faculty in the area of OB and HRM, followed by some words of encouragement by Dr P Janaki Ramudu, Dean Academics. The session witnessed a keynote address by Dr Rajeev Sharma from Charles Darwin University. The guest of honour of the conference was Dr Murali Padmanabhan, ..

ESIC should give requisite facilities to workers: Raut

WORKERS and companies in spite of the contribution of crores of rupees every year, there is serious lack of facilities for the workers during the COVID-19 pandemic period by Employees State Insurance Corporation (ESIC). Many workers are not getting proper facilities and benefits even though the workers are making regular contributions from their salaries. ESIC hospital located at Somwaripeth in the city is the only hospital that has been operating for many years. The hospital has total 150 beds and ..

FPIs pull out Rs 929 cr from Indian mkts so far this month

FOREIGN portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets so far this month amid concerns over rising COVID-19 cases denting the economic recovery. The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January. Overseas investors pulled out Rs 740 crore from equities and Rs 189 crore from the debt segment, taking total net withdrawal between April 1-9 to Rs 929 crore, said Rusmik Oza of Kotak ..

‘Need to take help of IT to make CETPs more efficient’

CII Vidarbha Zone recently organised a webinar on the topic ‘Solution for water pollution’ which focused on challenges, processes and infrastructure requirements for the implementation of Online Continuous Emission and Effluent Monitoring Systems (OCEMS) as per the MPCB directions and CPCB guidelines. Ashok Shingare (IAS), Member Secretary, Maharashtra Pollution Control Board (MPCB) was the chief guest at the session. He emphasised on the importance of common effluent treatment plants (CETPs) and ..

Follow all COVID rules, be responsible: Gadkari

UNION Minister of Road Transport and Highways and Minister of Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari unveiled a logo initiated and created by ICAI, Nagpur for creating awareness among the general public about precautions to be taken during the coronavirus pandemic. On the occasion, Gadkari said, “Everyone has to be cautious and follow all COVID protocols for safety of self and family. The coronavirus pandemic has created a deep impact in the life of everyone and the dreadful ..

Six from Ngp in CREDAI State body, Furde new State President

Sunil Furde was unanimously appointed as the CREDAI Maharashtra President in a ‘Change of Guard’ General Assembly meeting organised on digital platform due to the pandemic situation. The meeting was attended by CREDAI National Chairman Satish Magar, National Vice President Shantilal Kataria, Anant Rajegaonkar, Jitendra Thakkar of National Advisory Council-CREDAI National, Pune IGR Shravan Hardikar, CREDAI Maharashtra’s Immediate Past President, Rajiv Parikh and more than 1,200 office bearers and members ..

Ngp Division of Central Rly registers total revenue of Rs 2,865 cr in FY 2020-21

NAGPUR Division of Central Railway organised an online press conference on April 9. Divisional Railway Manager (DRM) Nagpur Division Richa Khare, discussed the achievements in detail for FY 2020-21. She said that the Nagpur Division of Central Railway registered a total revenue of Rs 2,865 crore. Nagpur Division of Central Railway a major freight division loads 52% of entire Central Railway. Total originating loading of 33.50 million tons was achieved against 34.06 million tons last year, a shortfall ..

‘India Inc to login 15-17% revenue growth’

AFTER eight quarters of either decline or single-digit growth, corporate revenue grew in high double-digits of 15-17 per cent in the March quarter of FY’21 to Rs 6.9 lakh crore, partly because of the low base and better realisation due to higher commodity prices, pushing up their operating profits by a much higher 28-30 per cent, says a Crisil Ratings report. With a visible recovery in the second half of fiscal 2021, the overall revenue may be a just 50 bps lower than that of fiscal 2020, according ..

Traders suggest mask wearing be made compulsory by law

In the wake of steep rise of COVID cases in various States of the country, the Confederation of All India Traders (CAIT) has advised all trade associations to step up their efforts for mandatorily observing safety protocols of COVID. This should be observed not only by the traders and their staff but also their respective customers. CAIT has also advised that every association should immediately deploy trader volunteers in their respective markets to make sure that every passerby or visitor should ..

TJSB Bank reports highest net profit in its history

  TJSB Bank sets an example in the cooperative banking sector for efficient management in challenging business environment. TJSB Sahakari Bank Ltd announced its audited financial results for FY 2020-21 on April 09, 2021 i.e., within 9 days after the close of the financial year, reaffirming transparency in operations and strong corporate governance. FY 2020-21 was a challenging year. The year began with a prolonged lockdown triggered by COVID-19 pandemic. Businesses had to struggle for ..

Baiganpalli, Alphonso mango varieties arrive in market

  ITS SUMMER time and one can easily notice when they see the delicious orange colour mangoes in the market. The ‘King of fruit’ the mango, has arrived in large quantities at the Kalamna wholesale marketyard. Currently, the Baiganpalli and Alphonso mango varieties have arrived since one week. This was disclosed by Anand Dongre, President of Nagpur Fruit Dealers Association while speaking to The Hitavada. He said that one of the most favourite varieties Baiganpalli is ..

R C Plasto’s noble gesture, donates 20 stretchers

  India’s largest manufacturer of plastic water tanks R C Plasto Tanks and Pipes Pvt Ltd has donated 20 stretchers to Nagpur Police Highway Department. The State Highway Police Department has launched the ‘Mrityunjay Doot’ initiative to help accident victims in road accidents. To provide assistance to this initiative, R C Plasto and Pipes Pvt Ltd under its corporate social responsibility (CSR) programme has donated the 20 stretchers. The stretchers would be useful ..

Members should take note of ‘Break the chain order’ clarification: MIA

  The represenatives of MIDC Industries Association (MIA) has discussed the ‘Beak the chain’ order issued by State Government with Joint Director of Industries and District Collector. The members of the MIA have been informed by Association about the clarification on following points.1) Weekend lockdowns: Industries will be exempted and industries can function on weekends as before.2) To-fro for employees working in MIDC Hingna Industrial Area: There will be no restriction in ..

COSIA’s webinar on ‘Process improvement in business’ today

   COSIA, Vidarbha Chapter has organised a knowledge enriching webinar on ‘Earn value in business by process improvement’, on April 10, 2021 from 4 pm to 6 pm. The speaker on the subject is CA Nitin Alshi who is an expert faculty on the subject, informs Mayank Shukla, Chairman of COSIA, Vidarbha Chapter. In today’s scenario when the business establishments are passing through a very tough phase, such seminars bears a great importance, said CA Julfesh Shah, Vice-Chairman ..

Lockdown: Silent protest by restaurant owners & staff

CONSIDERING the rising COVID cases, Government of Maharashtra has imposed lockdown on restaurants along with other non-essential shops for the month of April, wherein restaurants are only permitted online sale from 7 am to 8 pm. This situation caused immense financial and economic pressure on the hospitality industry. This has resulted in Hotel and Restaurant Association - Western India (HRAWI), Association of Hotel and Restaurant (AHAR), National Restaurants Association of India (NRAI) coming ..

Sitabuldi traders defer agitation

AFTER getting assurance from the Maharashtra Chief Minister Uddhav Thackeray that two days time should be given to State Government to come out with amicable solution, Sitabuldi Merchants Association has decided to postpone their agitation. The Association decided to open their shops from April 9 in protest against the Government decision to down their shutters...

Nagpur Sarafa Assn stages ‘Thali Bajao’ demonstration

THE office bearers of Nagpur Sarafa Association had organised the ‘Thali Bajao’ agitation at 11 am on Thursday at Itwari Sarafa Bazar near Dharamkata. The ‘Thali Bajao’ agitation was held against the ongoing lockdown imposed by the State Government. All the members of the Nagpur Sarafa Association were present...

Traders should follow Govt directives: Matani

AN INTERACTIVE meeting of cloth merchants and bullion traders was organised at Lakadganj Police Station. Lohit Matani, Deputy Commissioner of Police (Zone 3) chaired the meeting. Present were Parag Pote, PI, Shankar B Sugandh, Kendriya Shantata Police Committee Member, Mahindra Katariya, Raju Acharya, Rajesh Rokde, Raju Maharaj, Mukesh Jain and others were present. Traders in the meeting raised question that when grocery, edible oil, grain and other markets were opened then why cloth and jewellery ..

IMT Nagpur’s meet on ‘The Role of HR in New Normal’

INSTITUTE of Management Technology (IMT), Nagpur is geared up to host the international conference on ‘The Role of HR in the New Normal’ on April 9, 2021, at 10 am. The conference will witness a distinct range of academicians, management students, practitioners and policymakers convene virtually for the one-day event. The focus of the conference will be to discuss the research findings, innovative practices, challenges and strategies to counter the ever-changing terrain of human capital management...

‘Office space leasing falls 36 per cent in Jan-March’

NET leasing of office space dipped 36 per cent to 5.5 million sq ft across seven major cities during January-March this year on lower demand because of the COVID-19 pandemic, according to property consultant JLL India. Office rents, however, remained stable...

Dr Richa’s Unique Clinic offer getting overwhelming response

Dr Richa’s Unique Clinic has introduced an offer under which it is giving 25 per cent discount on skin weight loss and hair replacement On hair baldness, hair patch and on hair transplantation, there is 50 per cent discount. All these offers are valid upto April 30, 2021. All these offers are receiving overwhelming response. “In the span of 22 years, Unique Group has made special identity among its valued customers,” said Dr Richa Jain, Managing Director of the Dr Richa’s Unique Clinic. On April 6, ..

‘Govt should open marriage halls, lawns at earliest’

AFTER suffering huge losses last year, the marriage halls and lawns have been again ordered to be closed from February 25 to contain the spread of COVID-19 virus. “We are one of the most affected industries as all business has stopped due to the lockdown. Most of the owners are facing financial crunch and mental stress. The Government should open the marriage halls and lawns at the earliest,” demanded Sanjay Kale, Joint Secretary of Nagpur Marriage Halls and Lawns Association while speaking to ..

Housing sales this year may touch 2019-level if pandemic remains under control: CREDAI

HOUSING sales that fell 40-50 per cent across 7-8 major cities last year due to the pandemic could bounce back to 2019-level this year, if there is no complete lockdown to curb the second wave of COVID-19, realtors’ body CREDAI said on Wednesday. Addressing a virtual press conference, CREDAI National President Harsh Vardhan Patodia said housing sales increased during the January-March quarter of 2021 and hoped that the trend will continue over the next nine months.He expressed concern over the second ..

Lift lockdown: Traders demand CM

ON CONTINUOUS perusal by the Confederation of All India Traders (CAIT) to the Chief Minister of Maharashtra Uddhav Thackeray called a virtual meeting on Wednesday with the prominent trade leaders of Maharashtra. The meeting was led by CAIT National President B C Bhartia, regarding the Covid-19 pandemic outbreak and the measures to be taken apart from lockdowns and curfews. Various trade organisation took part in this virtual meeting. Bhartia spoke on behalf of the lakhs of traders of Maharashtra...

IRDAI issues draft guidelines on trade credit insurance

IRDAI on Wednesday proposed a regulatory framework to facilitate general insurance companies to offer trade credit insurance covers to suppliers as well as licensed banks and other financial institutions to help businesses manage country risk. Trade credit insurance protects businesses against the risk of non-payment for goods and services by buyers. It usually covers a portfolio of buyers and indemnifies an agreed percentage of an invoice or invoices that remain unpaid as a result of protracted ..

Big Bazaar’s Sabse Bada offer: Free Rs 500 worth of fruits & veggies on shopping of Rs 2,500

Big Bazaar, India’s leading hypermarket chain, has always been a pioneer in the innovative offerings it brings for its customers. In keeping with its tradition of providing Indian consumers the most value for their shopping, Big Bazaar announces its new ground-breaking proposition- the ‘Sabse Bada Offer’. For the first time ever, customers will get Rs 500 worth of fruits and vegetables absolutely free on shopping of Rs 2,500. In addition to Big Bazaar stores, this offer can also be availed on the ..

Baidyanath launches unique formulation Arjunamrita

Today’s stressful lifestyle, lack of physical exercise and high fat diets are increasing the incidence of coronary arterial diseases and heart attacks, increase in cholesterol levels in the blood causes arterial blockages resulting in heart attacks and coronary arterial diseases. Looking into these problems, Baidyanath has introduced a unique formulation Arjunamrita (Arjunaristha Special). Since it contains the extract of herbs, it is more potent with higher therapeutic benefits...

Traders dissapointed over lockdown

As the markets wore a deserted look on Tuesday because of the new restrictions imposed by the authorities to control novel coronavirus, traders, businessmen and others have once again opposed it and demanded some relaxation in the norms. The city-based traders and businessmen are urging the authorities to roll back the decision in the larger interest of the society. Tarun Nirban, Secretary of Nagpur Chamber of Commerce Limited:- Complete lockdown will not serve the purpose. It will destroy the markets ..

IT office automation biz sees growth in demand

When other businesses are suffering due to lockdown and other restrictions the IT office automation business which includes products like computer, laptops and copiers are witnessing a phenomenal growth in demand. The COVID-19 pandemic has cultivated a new work culture that being ‘Work from Home’ (WFH). “The demand for IT office automation equipment has surged by more than 40 per cent as compared to the year ago period,” said Jaiprakash Parekh, owner of JP Office Equipment, Dhantoli. He is in the ..

India’s domestic passenger traffic slips to 10-yr low

India’s domestic passenger traffic slipped to a 10-year low at an estimated 53.4 million in the just-concluded financial year, a report said. However, in the previous fiscal there were no passenger flight operations for almost two months due to the pandemic-induced lockdown. During the financial year 2010-11, all domestic air operators together had flown a total of 53.8 million passengers on local routes, according to ratings agency ICRA. The domestic passenger traffic in March 2021 has been estimated ..

Traders believe lockdown is no solution to COVID-19

Expressing dissatisfaction over the new set of restrictions, traders, businessmen and others observed that the decision would disrupt commercial activities. Most of them felt that the authorities could have allowed business activities and given relief to people already suffering losses because of the previous lockdown...

VIA to hold webinar on 9th HRD

Forum of Vidarbha Industries Association (VIA) will be organising a webinar on ‘Dynamics of Industrial Relations in India’ on April 9, from 3.30 pm to 4.30 pm on zoom. Internationally known personality, Dr Rajen Mehrotra, former Senior Employers’ Specialist for South Asian Region with International Labour Organization (ILO) will be key speaker of the session...

Aditi Sirsikar is Co-convener of Women’s Wing at CREDAI Maha

ADITI Sirsikar, Director of Sirsikar Developers and Builders has been appointed as Co-convener of Women’s Wing at CREDAI Maharashtra...

IRDAI proposes regulations for designing, pricing of general insurance products

Regulator IRDAI on Monday came out with draft regulations for the designing and pricing of general insurance products with a view to protecting the interest of policyholders. The proposed regulations provide the basic framework and reflect the fundamental principles to be followed in respect of product design and pricing, said Insurance Regulatory and Development Authority of India (IRDAI)...

Housing sales up 44 per cent in Jan-Mar

Sales of residential properties across eight major cities grew 44 per cent in the January-March period this year to nearly 72,000 units as demand recovered, according to Knight Frank India. Mumbai Metropolitan Region (MMR) and Pune performed well on the back of the Maharashtra government's decision to reduce stamp duty. “71,963 units were sold during Q1 2021, 44 per cent more than in Q1 2020. This healthy growth in sales also encouraged developers to launch new projects which are reflected in the ..

Hyundai crosses 10 lakh sales mark for SUVs

SOUTH Korean auto major Hyundai on Monday said it has crossed 10 lakh cumulative sales milestone of SUVs made in India. These SUVs have been sold both in India and export markets, Hyundai Motor India Ltd (HMIL) said in a statement. The launch of mid-sized SUV Creta in 2015 accelerated Hyundai Motor India’s growth in the segment with cumulative sales of over 5.9 lakh units in the domestic market and over 2.2 lakh units in the export market, it added...

Raymond presents special range of fabric for weddings

Raymond, one of the most preferred brands, has come out with a new range of wedding collections. When it comes to clothes or ready-made garments, assured quality, variety of designs, Raymond is always the first choice of the citizens. The style and designs of the Raymond collection change with the still being traditional. For nearly three generations, the brand has enjoyed a special place among the fashion lovers...

Extend Stamp Duty concession period: Builders and developers

Builders and developers have once again urged the Government to extend the Stamp Duty concession for at least next three months. The period of the Stamp Duty concession has come to an end on March 31. Soon after taking over the charge of CREDAI Nagpur Metro, its President Vijay Dargan said that the sector needs support. Dargan said that the real estate sector is bearing the brunt of lockdown imposed in the previous year. “Moreover, the uncertainty is still prevailing in the markets and thus the Government ..

TRAI to conduct consumer survey

Telecom regulator TRAI is planning to conduct a consumer-facing survey to assess if tariff plans offered by operators are meeting actual requirements of varied categories of users, a top official said. Telecom Regulatory Authority of India (TRAI) may rope in an agency to conduct the survey for it...

CA Nitin Alshi on IASB of ICAI, New Delhi

CA Nitin Alshi, a senior practicing chartered accountant from city has been nominated on Internal Audit Standards Board (IASB) of Institute of Chartered Accountants of India (ICAI), New Delhi for the year 21-22. He is specialised in the area of internal audit, risk management, business advisory and other value added services from last 23 years...

‘Addl disclosure to bring transparency in financial statement’

With the ever-increasing stringency in the regulatory framework and disclosure requirements under various provisions of Company Law, Ministry of Corporate Affairs, vide notification dated March 24, 2021 has further prescribed a list of numerous additional disclosure required in the financial statements by amending Schedule III to the Companies Act, 2013. The amendments have been brought to bring more transparency by providing for various disclosures including dealing with struck off companies, details ..

RBI to maintain status quo on rates: Experts

A sudden surge in COVID-19 cases and the government's recent mandate asking the central bank to keep retail inflation around 4 per cent are likely to prompt the Reserve Bank of India (RBI) to maintain status quo on policy rates at its first bi-monthly monetary policy review for the current fiscal, according to experts. The Monetary Policy Committee (MPC), RBI’s rate-setting panel, is also likely to maintain the policy stance accommodative at the next policy review to be unveiled on April 7, say experts. ..

RBI to maintain status quo on rates: Experts

A sudden surge in COVID-19 cases and the government's recent mandate asking the central bank to keep retail inflation around 4 per cent are likely to prompt the Reserve Bank of India (RBI) to maintain status quo on policy rates at its first bi-monthly monetary policy review for the current fiscal, according to experts. The Monetary Policy Committee (MPC), RBI’s rate-setting panel, is also likely to maintain the policy stance accommodative at the next policy review to be unveiled on April 7, say experts. ..

NVCC receives ISO status

NAG Vidarbha Chamber of Commerce (NVCC) has received the ISO 9001:2015 certification. On the occasion, Nitin Gadkari, Union Minister Minister of Road Transport and Highways and Minister of Micro, Small and Medium Enterprises handed over the certificate to Ashwin Mehadia, President of NVCC and B C Bhartia, former President of the Chamber. Mehadia said, “ The Chamber provides the ‘Certificate of Origin’ to the exporters required by the Government for the export of local goods from the past several ..

Banks are ‘Financial Covid Warriors’: CA Chopra

Banks play a major role in establishing the financial stability of businesses, said CA Amarjit Chopra, Past President, ICAI while speaking as chief guest at the inaugural function of the three-day ‘Bank Branch Audit Summit’ organised by the Nagpur Branch of WIRC of ICAI recently. He also said that the banks have played a vital role in supporting businesses during the time of COVID-19 pandemic and they rightly can always be termed as “Financial Covid Warriors” CA Chopra added...

Vijay Dargan to lead CREDAI Nagpur Metro

The New Team of CREDAI Nagpur Metro led by President Vijay Dargan, General Secretary Gaurav Agarwala and Treasurer Rajmohan Sahu, for two year term of 2021-2023 was announced. It also includes vice presidents Ashish Londhe,..

MD of Anagha Beauty Clinic gets prestigious award

Renowned cosmetologist, Perfusionist & MD of Anagha Beauty Clinic Dr Reeta Devhare has received the prestigious “Women’s Achiever Award Nagpur this year for the outstanding work and dedication in the field of health and wellness. The award was arranged by Women’s TV Chanel at Hotel Airport Center Point, Nagpur to felicitate the phenomenal women who broke the glass ceiling and encourage the women empowerment...

‘Surge in commodity prices to impact India’s economy’

FURTHER surge in global commodity prices will have serious implications for India’s economy which is still struggling to come out of the COVID-19 impact, ratings agency Ind-Ra said. As per Ind-Ra, a higher retail inflation not accompanied by a commensurate increase in wage growth will adversely impact the consumption demand and in turn investment revival in the economy...

MECL registers best performance

Mineral Exploration Corporation Limited (MECL), a Nagpur based Miniratna I CPSE of Ministry of Mines, Government of India, has given its best performance in the FY 2020–21, breaking all previous records. MECL achieved all-time highest physical performance of Exploratory Drilling of 6.39 lakh meters for coal, lignite, gold, copper, iron ore, manganese, bauxite, potash etc., 3.96 lakh meters of Geophysical Logging and 1.3 lakh numbers of Geochemical Sample Analysis...

NBFCs seek simpler methods for cancellation of NACH mandate

NBFCs with asset base of below Rs 500 crore have requested the National Payments Corporation of India (NPCI) to provide a simpler method such as WhatsApp or SMS for cancellation of NACH mandate for their customers. National Automated Clearing House (NACH) mandate is a direction to the bank to honour recurring payments like loan instalments, insurance or systematic investment plans (SIPs)...

Lower demand restricts pulses prices from moving

From the past one month poor demand for pulses has restrained the prices from moving up. “The prices of various pulses like Tur Dal, Moong Mogar, Chana Dal, Urad Mogar and other varieties have remained range bound during the past month due to lower demand from consumers,” said Prabhakar Deshmukh, President of Nagpur Chillar Kirana Vyapari Sangh while speaking with The Hitavada. ..

Mahindra gives keys of two

Mahindra gives keys of two tractors to Kanchan Gadkari Keys of two tractors manufactured by the country’s leading brand Mahindra were handed over to Kanchan Gadkari, wife of Union Minister Nitin Gadkari recently. ..

CAIT felicitates traders for their social work

Recognising the efforts of Ramkrushna Gupta during the recent lockdown, the Confederation of All India Traders (CAIT) felicitated him at a function held here. President of Vaishya Ekta Parishad, Maharashtra Pradesh - Ramkrushna Gupta had played a major role in helping people facing hardship during the recently imposed lockdown. ..

India’s power consumption grows 24.35% in March

POWER consumption in the country grew 24.35 per cent in March at 123.05 billion units (BU) over the corresponding month a year ago, showing a revival in the economic activities, according to power ministry data. Power consumption in March last year was recorded at 98.95 BU. ..

CAIT holds campaign to control Covid-19

As the city is facing increased numbers of coronavirus patients, the Confederation of All India Traders (CAIT) conducted a special campaign to create awareness among the citizens on the issue. Team CAIT Nagpur in association with Pooja Charitable Trust, Sarafa Bazar, Itwari, Nagpur launched the awareness campaign which was inaugurated at the hands of B C Bhartia, National President Confederation of All India Traders, New Delhi. Speaking on the occasion, Bhartia said, “Lockdown of market should not ..

Commodity market participants seek Govt intervention

The Commodity Participants Association of India (CPAI) on Thursday met Finance Minister Nirmala Sitharaman and sought her immediate intervention and policy support following a sharp decline in the volumes of exchange-traded commodities. During the meeting, the CPAI representatives expressed their concerns pertaining to current challenges and hurdles that the industry is facing, which are contributing to diminishing liquidity on Indian commodity exchanges. Commodity markets’ average daily turnover ..

Bank credit to grow 10 pc in FY22: Crisil

Banking system’s credit growth will almost double to 10 per cent in 2021-22 on the economic recovery and policy interventions, ratings agency Crisil said on Thursday. The quantum of gross non-performing assets (NPAs) will rise up to 10.5-11 per cent by the end of 2021-22, which is about a percentage point lower than what was initially expected, the agency said. The GDP growth is expected to stand at 11 per cent for the newly begun fiscal year, after a 7.7 per cent contraction in the pandemic-impacted ..

Retailers call for joint effort to handle 2nd wave of pandemic

The Retailers Association of India (RAI) on Thursday called for a coordinated effort at handling the second wave of the coronavirus pandemic instead of creating diverse restrictions at local levels like weekend lockdowns, shutdown at 8 pm and arbitrary testing inside malls. Stating that the Indian retail industry had faced many hurdles last year due to lockdowns and localised restrictions, RAI said as the number of COVID-19 cases surge and the pandemic takes a new turn with the second wave, the retail ..

Govt should have robust feedback system: CA Satish Sarda

THERE has been a lot of similarity between GST and Corona. Just when Corona came there was lot of hue and cry. The same thing happened when the Goods and Services Tax (GST) was introduced in 2017. This was disclosed by CA Satish Sarda, Past Chairman, Nagpur Branch of ICAI, while speaking as chief guest on Finance Bill seminar ‘Indirect Taxes’ organised by Nagpur Branch of WIRC of ICAI. He said, “Just like the method of treatment under Corona has settled so are the laws getting settled in GST...

‘Sebi cuts timeline for refunding investors’

MARKETS regulator Sebi on Wednesday reduced the timelines for refund of investors' money to four days in case of non receipt of minimum subscription and the issuer failing to obtain listing or trading permission from the stock exchanges. The timelines have been reduced after taking into consideration that Application Supported by Blocked Amount (ASBA) has been mandated for all applicants in public issues...

Steep rise in desert cooler prices this season

It is not only the temperature which is rising but also the prices of desert coolers that have shot up this summer season. The prices of desert coolers have gone up by 30 per cent to 40 per cent mainly due to hike in steel prices. The main component of the desert cooler is its body that consists of steel angles and metal sheets. This year the steel prices have increased to Rs 58 per kilogram as compared to Rs 42 per kilogram registered in year ago period. This was revealed by Sanjay Topre, owner of ..

‘Stainless steel output dips 19%’

STAINLESS steel production in the country declined 19 per cent to 3.17 million tonnes (MT) in 2020, according to the Indian Stainless Steel Development Association (ISSDA). Despite the pandemic-induced lockdown in the April-June 2020 period, which halted the production in the country during the quarter, India continued to be the second-largest producer of stainless steel globally...

Automatic recurring payment to comply with Reserve Bank direction from April 1

Come April there will be no automatic recurring payment for various services including recharge and utility bill as RBI has made Additional Factor of Authentication (AFA) mandatory after March 31. However, banks and payment gateways are seeking additional time to comply with the RBI directive on automatic recurring payment. On December 4, RBI had directed all banks including RRBs, NBFCs, and payment gateways that the processing of recurring transactions (domestic or cross-border) using cards or ..

NCCL launches drive on COVID-19 awareness

Nagpur Chamber of Commerce Limited (NCCL) has launched drive to create awareness about the safety measures to be taken during the present COVID-19 pandemic. It also distributed mask free of cost to various trade associations. All the directors of the Chamber told the members of the trade associations that they should tell their employees to follow the guidelines pertaining to COVID-19...

‘MSMEs should avail Udyam registration before March 31’

As Udyam registration has been made compulsory for all MSME’s w. e. f. April 1, 2021 and the deadline for the same is March 31, 2021, the stakeholders should take care and complete their Udyam registration process before this date, said CA Julfesh Shah, MSME expert while delivering a lecture on MSME’s & its benefits organised by MSME Entrepreneurs Forum of Western India Zone...

WCL to miss coal production target in current fiscal

The city based public sector enterprise - Western Coalfields Limited (WCL), which had surpassed its coal production target of 2019-20 by a comfortable margin, is all set to miss the same in the current fiscal. Against the target of 60 million tonnes (MT) for 2020-21, the Miniratna Ratna company is likely to achieve only 50 million tonnes of coal production till March 31. When contacted, Manoj Kumar, Chairman-cum-Managing Director - WCL, said that the final figures will be available in the next three ..

Short supply pushes up lemon prices manifold

If you have thought of enhancing your immunity by consuming lemon juice regularly in place of gulping down the artificially flavoured cold-drinks or packaged juices, take a look at the availability of the agri produce in the local markets and its price. You may have to shell out four to five times more to fetch lemons. Amid coronavirus restrictions and fear among the citizens, the supply chain of various commodities including vegetables and fruits has gone haywire. In some cases, the out-station wholesaler..

TDS to be cut on cash withdrawals from post office schemes

THE Department of Posts has issued new rules for deduction of TDS if the aggregate withdrawal from all post office schemes is more than Rs 20 lakh. The provision includes withdrawals from PPF also. As per the new provisions under Section 194N of Income Tax Act 1961, if an investor has not filed Income Tax Returns (ITR) for the previous three assessment years then tax deducted at source (TDS) will be deducted from the withdrawal amount. The new rule is applicable from July 1, 2020...

Restrictions during Holi spoil business worth Rs 100 cr

The recent restrictions imposed to curb the fast spreading coronavirus have not only dampened the festive mood of citizens but also spoiled the business prospects. According to a rough estimate, trade to the tune of over Rs 100 crore could have been lost during the current festival season. As the sense of jubilation and cheer among the citizens was missing on the eve of Holi festival, sale of ‘pichkaris’, Holi colours and other items has taken a back seat on Sunday evening, sources said. Though people ..

‘Need to promote FPOs to address challenges of agriculture’

THE Institute of Cost Accountants of India, Nagpur Chapter recently organised a webinar on ‘Promoting and nurturing of Farmer Producer Organisations (FPOs)’. H M B Murthy, Secretary of Nageshwara Charitable Trust (NCT), a Producer Organisation Promoting Institution (POPI) for farmers was the keynote speaker. The event commenced with welcome address and inauguration of the session by CMA Anil Verma, Chairman of Nagpur Chapter of Cost Accountants. He highlighted about the collectivisation of producers, ..

Govt unlikely to continue with zero-coupon bond route to recap PSU banks

The Government is unlikely to take zero-coupon bond route to further recapitalise public sector banks after the Reserve Bank of India expressed some concerns in this regard, sources said. The Government, they said, would resort back to recapitalisation bonds bearing a coupon rate for capital infusion in these banks. To save interest burden and ease the fiscal pressure, the Government last year decided to issue zero-coupon bonds for meeting the capital needs of the banks...

NVCC’s online ‘Hasya Kavi Sammelan’ on March 30

ON THE auspicious occasion of Holi, Nag Vidarbha Chamber of Commerce (NVCC) will be organising an online ‘All India Hasya Kavi Sammelan’ on March 30. The entertainment programme will be on Facebook Live at 6 pm. Ashwin Mehadia, President of NVCC said that due to COVID-19 and lockdown the traders from the past one year are facing economic hardship and under huge mental stress...

India’s coal import drops 14 pc in Apr-Feb FY21

INDIA’S coal import dropped 13.6 per cent to 196.13 million tonne (MT) in the April-February period of the ongoing fiscal year. The country had imported 227.23 MT of coal in the year-ago period, according to a report by mjunction services. Mjunction -- a joint venture between Tata Steel and SAIL -- is a B2B e-commerce company and also publishes research reports on coal and steel verticals.“For April-February 2020-21, total coal and coke imports stood at 196.13 MT, about 13.69 per cent lower than 227.23 ..

‘Agri-tourism aims bringing visitor close to nature’

The Agro & Rural Development Forum of Vidarbha Industries Association (VIA) organised a session on “Agritourism - Emerging opportunities for farmers to become Atma-nirbhar” recently on zoom. Prashant Sawai, Deputy Director of Tourism Nagpur Division conducted the first session on “Agritourism Policy.” He said Agritourism is a form of alternative to mass tourism based on sustainability, preservation of culture, heritage and traditions in rural areas. It comprises all forms of tourism in which tourists ..

Spacewood Furnishers posts Rs 500 cr revenue in FY 20

Spacewood Furnishers Pvt. Ltd., one of India’s largest manufacturers of modular furniture, announced its ambitious growth plans to achieve annual revenue worth Rs 1,000 crore by FY 2025, from its FY 2020 annual revenue of Rs 500 crore, by pursuing double digits CAGR growth rate. Further, the company plans to invest Rs 100 crore over the next 3 years, to strategically expand its retail reach, introduce new product offerings and segments, and explore international collaborations, among others. Spacewood ..

‘Empowering of agriculture sector and rural India must’

While speaking at the Agro Food Tech virtual Summit organised by the Agrovision Foundation, Union Minister Nitin Gadkari said that empowerment of agriculture sector and rural India is must to make India self reliant. He also said that to accelerate growth in agricultural production, new technology, research and development and innovative farming should reach the country’s villages...

Herbal gulal and colour available at Funplanet Gallery

PREMIUM quality herbal gulal and Holi colour of brand Radhakishan Bishandas and Corporation are available at Funplanet Gallery. Herbal gulal and colour are safe for the skin as they are made from natural herbs. Tota brand ‘RB’, gulal is available in many colours in a price range from Rs 10 to Rs 200...

Energy demand to be higher in Jan-Mar: Ind-Ra

THE all-India energy demand is expected to be higher in March quarter of 2020-21 compared to same period a year ago despite the partial lockdown in some states due to a surge in COVID-19 cases, India Ratings and Research (Ind-Ra) said. Ind-Ra has published the March 2021 edition of its credit news digest on the power sector. The report highlights the trends in the power sector, with a focus on capacity addition, generation, transmission, merchant power, deficit, regulatory changes and the recent ..

Holi for traders will be colourless this year: CAIT

  THIS year, Holi festival is going to prove colourless for traders across the country. After the COVID lock-down, the retail sector of the country was eagerly waiting for the Holi celebration this year. Due to increase in COVID cases, people are scared and have decided to celebrate Holi at home, due to which there has been a tremendous decline in the business of Holi. According to an estimate on Holi, business worth about Rs 25,000 crore happens in the country, out of this Rs 1,500 ..

DGGI Ngp busts fake invoice racket, arrests 6 persons

  THE Directorate General of GST Intelligence (DGGI), Nagpur has busted a fake invoice racket in Maharashtra involving 15 entities who availed fraudulent Input Tax Credit (ITC) of Rs 282.34 crore and has arrested six persons in the case.As part of the ongoing drive against fake invoices, multiple searches were conducted in the last 3-4 days by the officers of DGGI, Nagpur Zonal Unit across Maharashtra to target 15 entities operating in Nashik, Palghar - Thane sector, a DGGI release said. ..

ICAI’s Sustainability Reporting Standards Board now has greater role to play: ICAI President

Sustainability Reporting Standards Board of the Institute of Chartered Accountants (ICAI) will now have a greater role to play with Sebi making it mandatory from 2022-23 for top 1,000 listed companies to prepare business responsibility and sustainability reports, ICAI President Nihar N Jambusaria said on Friday.Speaking at an event, Jambusaria noted that there are various challenges like climate change, poverty, gender inequality and proper awareness on these areas need to be spread.He said that the ..

NVCC kick-starts awareness drive to control spread of coronavirus

 Showing concern towards the growing cases of COVID-19 patients in the city, the Nag Vidarbha Chamber of the Commerce (NVCC) on Friday launched an initiative to create awareness among traders and general public. The chamber has put up advertising banners on auto-rickshaws displaying messages on safety precautions. The traders’ body, representing more than 13 lakh traders spread all over the region, put up banners on 100 auto-rickshaws. Mayor Dayashankar Tiwari, Ashwin Mehadia, President ..

Satish Saree Stores, Swastika & Saree Niketan extend offer till March 31

To mark the International Women’s Day, the management of Satish Saree Stores, Swastika and Saree Niketan have decided to extend the special offer of flat 15 per cent discount till March 31. The offer is available at Satish Saree Stores, Swastika and Saree Niketan on the entire range of sarees, suits, lehnga cholis, suits, dress material, Kurtis, etc. Satish Saree Stores and Saree Niketan are among the foremost preferred shopping centers of the city’s women as they have the newest and latest designs ..

Lucky draw on bookings of ‘The Battle of Bhima Koregaon’ film

Producer - Director Ramesh Thete’s upcoming film ‘The Battle of Bhima Koregaon’ will be released soon. The film, being produced under the banner of RTF Films, is attracting the attention of a large number of people. Advance booking of the film tickets is going on and the RTF Films has announced a unique lucky draw system on the bookings. Five lucky persons will get a cash prize of Rs 21 lakh each...

CA Varun Parakh is co-opted member of CCIM-ICAI, New Delhi

CA VARUN Anil Parakh, Managing Director of Kreo Capital Private Limited, Nagpur, has been nominated as a Co-opted Member of the Committee on Capital Markets and Investors’ Protection (CCMIP) of the Institute of Chartered Accountant of India, New Delhi for the year 2021 -22. The Committee was reconstituted as Committee on Capital Market and Investors Protection in the year 2021 to provide suggestions on various bills, notifications, circulars and other documents related to capital markets to the ..