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Axis Bank Cuts Lending Rates By Up To 0.15%

Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »

Foreign Reinsurers To Be Operational In 6-9 Months, Says Regulator

Currently, state-owned GIC Re is the only reinsurer operational in the country. (Representational image) Kolkata: The Insurance Regulatory and Development Authority of India (IRDAI) on Friday said it expects foreign reinsurers, which will get final clearance from the insurance regulator, to be operational in the country over the next six to nine months. “We are hopeful that global reinsurance companies which will get final ... Read More »

Flipkart Sale: OnePlus 3 to Be Available at Rs. 18,999 but Confusion Continues

Those who happened to be visiting Flipkart’s website on Friday were greeted by an unfamiliar sight – a banner listing the sale of OnePlus 3 smartphones for under Rs. 20,000. Now, Flipkart has explicitly detailed that the OnePlus 3 will be available for as low as Rs. 18,999, which is Rs. 9,000 cheaper than the current price of the phone ... Read More »

Flipkart Big Shopping Days Sale to See Discounts on OnePlus 3, Moto E3 Power, and More

Ahead of Flipkart’s upcoming Big Shopping Days sale that kicks off from Sunday, the online retailer has offered a glimpse of what to expect in terms of discounts and offers on smartphones and other electronics during the sale. The online retailer has made a dedicated website offering a ‘sneak peek’ to what the Big Shopping Days sale will have for ... Read More »

BlackBerry Partners China’s TCL to Make BlackBerry-Branded Mobile Devices

BlackBerry Ltd said China’s TCL Communication Technology Holdings Ltd would make and sell BlackBerry-branded mobile devices globally, the Canadian smartphone pioneer’s first licensing deal since its transition to a software company. The devices made by TCL, which also makes Alcatel-branded mobile devices, will be coupled with BlackBerry’s security software and service suite, the company said on Thursday. BlackBerry is betting ... Read More »

Mercedes-Benz To Hike Car Prices In India By Up To 2% Across Model Range

Joining the list of carmaker’s who have announced price revisions this month Mercedes-Benz India has announced its plan to increase car prices in the country by up to 2 per cent, varying across the model range. The price hike will be for the carmaker’s entire model range and will be effective from 1st of January 2017. In a statement released ... Read More »

Digital Payments: Indirect Tax Assessments Not To Be Reopened If Turnover Rises

The governmenthas been encouraging people to shift towardsdigital mode of payment. New Delhi: The Revenue Department on Sunday said officials will not reopen the past assessments of excise and service tax of assessees even if their turnover in the current period increases on account of digital payments in the wake of demonetisation. In a circular to excise and service tax chief commissioners, the Central Board ... Read More »

Axis Bank Denies Local Media Report Of Threat To Its Banking Licence

Axis Bank said it has strong systems and controls in place as per central bank rules. Mumbai: Axis Bank on Monday slammed a regional newspaper report stating authorities were preparing to revoke the bank’s licence as “false and malafide”, saying it had strong systems and controls in place as per central bank rules. Axis, India’s third-biggest private sector bank, said ... Read More »

3-Day Bank Holidays Add To People’s Cash Woes

Mumbai: As the banks remained shut for the third consecutive day on Monday and many ATMs continued to run dry, it caused further inconvenience to people, who are already reeling under a currency crunch. The banks are likely to witness a rush of people tomorrow, when the operations resume. The three-day long bank closure started from December 10, as it ... Read More »

Volkswagen India To Increase Prices Across All Models From January 2017

Volkswagen India is the latest of auto manufacturers to increase prices across its complete model range starting from January 2017. The revision will see prices being hiked by 3 per cent depending on the product and variant, and will also affect the new Ameo subcompact sedan that went on sale earlier this year. Volkswagen currently sells five products in the ... Read More »