Miscellany

Miscellany

Special education loan for women launched

On the occasion of international women’s day, Avanse Financial Services, a leading education finance company, has launched an exclusive education loan offer for girl students aspiring to pursue higher education. It will offer 12-year term against the normal 10-year term, 25 per cent discount on processing fee and a 1 per cent reduction in interest rate. The offer starts from March 8 and concludes on March 31.

GJEPC sends show cause notice to Modi, Choksi

THE Gem and Jewellery Export Promotion Council has sent show cause notices as to Nirav Modi and Mehul Choksi as to why their primary membership should not be cancelled or suspended in the wake of the PNB scam. GJEPC is also talking to banks and the government, seeking support for the small and medium diamond processors who are facing bank finance crunch post the scam. 

FinMin pitches for Fitch rating upgrade

India on Wednesday pitched for a sovereign rating upgrade by Fitch, citing the latest growth figures, buoyant revenue collections and strong fundamentals and banking reforms.

Fitch has a BBB-, the lowest investment grade sovereign rating, on India, with a stable outlook. In November last year, Fitch’s rival Moody’s had raised India’s credit rating from the lowest investment grade of Baa3 to Baa2, and changed the outlook from stable to positive in 14 years. The Fitch rating of India is set for an annual review in a couple of months.

SFIO questions PNB MD & CEO

The Serious Fraud Investigation Office (SFIO) is widening its probe in the `12,622 crore fraud at state owned Punjab National Bank (PNB).OnWednesday, PNB managing director and chief executive officer Sunil Mehta (in pic) appeared before the SFIO here after being summoned for recording his statement in connection with the fraud. The SFIO which works under the ministry of corporate affairs is also expected to call officials of nearly 31 banks which have an exposure to the companies of diamond traders Nirav Modi and Mehul Choksi.

Profits, doubts in equal measure

This year's Geneva Motor Show comes at a curious time for an auto world enjoying record profits yet also gripped by doubt midway through the grand transition from diesel to electric and self-driving vehicles.

“Geneva really ought to have been a lovely salon,” says, with heavy irony, Ferdinand Dudenhoeffer, director of German-based Center Automotive Research of a Europe’s first major car show of the year running from March 8 to 18.

“But behind the glamour and the finery are plenty of worry wrinkles.”

Gautam Adani’s wealth doubles to Rs 91K crore, 31 Indians turn billionaires this year

In another record-breaking year for billionaires, their total wealth increased by 31 per cent to US$10.5 trillion, equivalent to 13.2 per cent of global GDP, and almost double the seven per cent of global GDP six years ago. The Hurun Global Rich List 2018 ranked 2,694 billionaires from 68 countries and 2,157 companies. As far as India goes, it was a great year for the country as it reclaimed the third place in the list. The country saw 31 new billionaires added to the list this year, taking its overall tally to 131.

Zomato gets $150 million from Alibaba

Hotting up the competition in app-based restaurant search space, Alibaba’s payment firm has invested $150 million in Zomato and another $50 million for secondary purchase of its shares. In the past couple of months, Swiggy had raised $100 million while Foodpanda was acquired by Ola Cabs, which committed an investment of $200 million in the food delivery firm.

Success on YouTube still means a life of poverty

Do your children dream of YouTube star­dom? Do them a fav­o­ur: Crush that ambition now.

New research out of Germany billed as among the first to review the chances of making it in the new Hollywood shows a vanishingly small number will ever break through—just like in the old Hollywood. In fact, 96.5 per cent of all of those trying to become YouTubers won’t make enough money off of advertising to crack the US poverty line, according to research by Mathias Bärtl, a professor at Offenburg University of Applied Sciences in Offenburg.

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