Category: India

LIC prepares for its historic IPO, LIC customers will also get golden opportunity

SEBI, the market regulator, has accepted the central government’s application for the LIC IPO. Life Insurance Corporation is expected to sell 5 percent of its shares. There will be a discount of 10 percent given to policyholders in LIC’s initial public offering. However, the record date will be February 13, and the PAN card policy will be updated by February 28.

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Policyholders are allowed a maximum of Rs 2 lakh. LIC India’s IPO has a share size of 31,62,49,885, with a retail quota of 35 percent. LIC’s IPO has been in the making for some time, and in order to make it a reality, the government has also sought advice from specialist companies.

As reported by sources, LIC’s board of directors approved the IPO. If SEBI approves LIC’s IPO, it could take place within a few days. The IPO may hit the capital market in March, according to sources. The government plans to sell about 31 crore equity shares in the draft it filed with SEBI.

Tuhin Kanta Pandey, Director, Department of Investments and Public Asset Management (DIPAM), tweeted that the DRHP for LIC’s IPO had been submitted to SEBI. Life Insurance Corporation (LIC) is expected to be listed on the stock exchanges by March. Anchor investors will receive a portion of the IPO. LIC’s IPO issue will reserve up to 10 percent for policyholders.

According to the source, preparations have been completed, and the DRHP could be filed as soon as next week. An IPO by LIC is important for the government amidst an estimated shortfall of Rs 78 thousand crores in government disinvestment targets for the current fiscal year. So far, the government has raised around Rs 12,000 crore by privatizing Air India and selling its stakes in other PSUs. LIC held a 64.1% share of the domestic market in 2020. LIC ranks third in the world when it comes to life insurance premiums, according to Crisil.

Prior to 2000, LIC’s market share was 100 percent, but in 2016, it had decreased to 71.8 percent. LIC’s market share further declined to 64.1% in 2020. SBI Life’s market share in 2016 was just 5%, and its share in 2020 is projected to be 8%.

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Rahul Bajaj passed away at the age of 83, was the chairman of Bajaj Group for nearly 50 years

Rahul Bajaj, an industrialist, died on Saturday (12 Feb 2022) in Pune. He was 83 years old. Rahul Bajaj was the chairman of Bajaj Group for nearly 50 years. Additionally, he received the Padma Bhushan award. Rahul Bajaj had resigned as the chairman of Auto instead in April last year. Bajaj Auto has been a well-known name in the Indian business, especially in the automobile sector. Its tagline was You Just Can’t Beat a Bajaj. His two-wheeler ad Hamara Bajaj was also in the limelight. In 1965, Rahul Bajaj took over the management of the Bajaj Group.

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In the information shared by Bajaj Group, it has been said that it is with great sadness to inform that Rahul Bajaj is no longer with us. Rahul Bajaj’s wife Roopa Bajaj has already passed away. Rahul Bajaj passed away this afternoon when close relatives of the family were there.

Rahul Bajaj led Bajaj Auto to grow from Rs 7.2 crores to Rs 12 thousand crores under his leadership. This made it one of the most prominent two-wheeler manufacturers in India. In the 90s, our Bajaj Advertisement from the Bajaj Group became very popular from house to house. As a result of his remarkable contribution to the industry, Bajaj received the Padma Bhushan award in 2001.

Industrialist Kiran Mazumdar Shaw has condoled the death of Rahul Bajaj. The news is very sad, he said. We were close friends, and I’m going to miss him dearly. The country has lost a great son.

Former Union Minister Jairam Ramesh has also expressed grief over the death of businessman Rahul Bajaj. He also remembered his friendship with Rahul Bajaj for nearly 40 years.

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BJP manifesto promises Rs 37000 crore scheme for farmers, read full news

UP Assembly Election 2022: Thursday will be the first phase of voting for the Uttar Pradesh Assembly Election 2022. Prior to this, the state’s ruling party, the Bharatiya Janata Party (BJP), released a manifesto called Lok Kalyan Sankalp Patra 2022. The manifesto of the BJP emphasizes youth and women as well as farmers.

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BJP Sankalp Patra 2022: As part of its manifesto, the BJP promised to implement programs for farmers at a cost of Rs 37,000 crore. Please know that these do not include the expenditures on grants, free electricity, and loans at concessionary rates. Interesting to see how the BJP is being attacked for the issue of farmers in this election by the opposition.

BJP Sankalp Patra 2022Download

A number of schemes are promised in the BJP’s election manifesto for the benefit of farmers. In the next five years, when the BJP comes to power in the state, it plans to provide free electricity for irrigation to all farmers. Also, it is said to strengthen the minimum support price (MSP) system of procuring wheat and paddy. In addition, payments to sugarcane farmers will be made within 14 days. Under the Pradhan Mantri Kusum Yojana, the BJP also promises solar pumps to farmers and provisions to sell the excess solar energy generated to farmers to increase their incomes with its Sankalp Patra.

Two schemes costing 30 thousand crores

As part of its Agri-Infrastructure Mission scheme, if it comes to power again, the BJP promises to spend Rs 25,000 crore. Among the facilities planned are sorting and grading units, cold chain chambers, godowns, and processing centers. A Mukhyamantri Krishi Sinchayee Yojana is also expected to be implemented at a cost of Rs 5000 crore. A grant program is being developed for small and marginal farmers to help them install boreholes, tube wells, etc.

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A promise of three more plans at a cost of 7000 crores

BJP promises to introduce three other schemes for farmers for Rs 7000 crore. According to the resolution letter issued by the BJP, a sugarcane mill renewal mission has been planned at a cost of Rs 5,000 crore to modernize sugarcane mills. There have also been plans to introduce the Nand Baba Milk Mission at a cost of 1000 crores. In this case, milk cooperative societies will be formed in villages to buy milk from farmers. BJP’s Sankalp Patra also promised to set up the Bhamashah Bhav Stability Fund to ensure that minimum prices of potatoes, tomatoes, and onions are maintained at a cost of 1000 crores.

Hyundai Motor’s troubles are not abating, demand for #Boycott raised after Kashmir dispute, apologized for statement

The troubles of Hyundai Motor continue unabated. There have been calls to boycott Hyundai vehicles in India following a ‘controversial post’ regarding Kashmir. A Hyundai dealer in Pakistan posted on social media that he supports separatists in Kashmir. People were outraged, and Hyundai’s Biocott campaign went viral.

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On Sunday, the Twitter account of a Hyundai dealer in Pakistan @hyundaiPakistanOfficial posted a message in support of Kashmir Solidarity Day, which was called “Struggle for Freedom”.

Hyundai’s Boycott is gaining support from hundreds of social media users in India. Hyundai should apologize, they demand. Hyundai Motor India responded a few days after the controversy erupted, describing India as its second home and stressing its commitment to India for more than 25 years.

Many Indians have posted on social media that they are considering canceling Hyundai orders and encouraging them to support indigenized companies such as Tata Motors and Mahindra instead.

Ashwani Mahajan, the national co-convener of RSS’s economic wing Swadeshi Jagran Manch, tweeted: “Hyundai Global’s Indian unit, Hyundai, is criticizing Pakistan for not yet saying Kashmir is an integral part of India. The fact that I am committed to India says a lot.”

According to Twitter user Ashutosh Soni, he canceled the booking of Hyundai’s Verna sedan, which was scheduled to be delivered this month. A new Honda car has also been purchased by him. Twitter users have also shared photos of their car purchases.

Ashutosh Soni tweet about Hyundai

Maruti Suzuki is the largest car manufacturer in India, followed by Hyundai Motor India. About 5 lakh Hyundai cars were sold last year in India. Creta and Venue are among the 12 models sold in the domestic market by the company. The automaker announced last December it would invest around Rs 4,000 crore over the next decade in the development of six electric vehicles in India.

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Hyundai Motors India informed its social media followers it is committed to the Indian market. The company stated, “Hyundai Motor India has served the Indian market for over 25 years, and we stand by our strong ethos of respecting our nationality.” As the second home of the Hyundai brand, the company reiterated, “We have zero tolerance for insensitive communication and we strongly condemn it.”

Official Statement by Hyundai India

It has now been announced that Hyundai Global is ‘deeply sorry for the inconvenience caused’ and that action has been taken against its dealer partner. The company deleted the tweet since it violates its policy of not commenting on religious or political issues.

West Bengal CM Mamata Banerjee will reach Lucknow today, will campaign for SP among Bengali community

In preparation for West Bengal’s CM Mamata Banerjee’s entry into the UP assembly election (UP Election 2022), an array of preparations are underway. Mamata Banerjee will reach Lucknow this evening for a two-day tour organized by Samajwadi Party (SP) leader Akhilesh Yadav.

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Mamata Banerjee’s entry into UP

Both leaders will conduct a virtual rally tomorrow, as well as hold a joint press conference tomorrow. Mamata Banerjee will appeal to the people of UP to defeat the BJP and ensure a massive victory for her party.

Mamata Banerjee will arrive at Lucknow airport around 5 pm today. As soon as Mamata Banerjee lands at the airport, she will proceed to Hazratganj’s Levana Suites, where she will rest. Her next stop is the office of the Samajwadi Party. A virtual meeting will be held between Mamata Banerjee and Samajwadi Party leader Akhilesh Yadav on Tuesday, 8 February.

Will Didi’s rally be effective?

As part of the Bengal assembly elections, Akhilesh Yadav endorsed Mamata Banerjee’s TMC party. Even though he did not go to Bengal for the campaign. During the Lucknow tour, Mamata will return the same loan, which will be announced during the rally and press conference tomorrow.

Many opposition parties came together in UP

So far, the SP has received support from NCP and RJD as well as regional parties. In addition to Mamata Banerjee’s announcement that the TMC would not enter the UP race, the TMC does not even have a mass following in the state. In such a situation, Mamata’s support can definitely boost Akhilesh’s strength.

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Bharat Ratna Lata Mangeshkar passed away, breathed her last at the age of 92; All veterans, artist including PM paid tribute

Lata Mangeshkar, the country’s famous singer known as Swara Kokila, has passed away. The Bollywood industry is in mourning following her death. Bollywood veterans to political parties have all called her death a tragic loss. Sanjay Raut, a Shiv Sena MP, tweeted this information. Her health had deteriorated on the previous day, after which she was kept on the ventilator from ICU.

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Having been infected with Covid in early January, she was sent treatment at Breach Candy Hospital in Mumbai. She was in the ICU for weeks after the situation did not improve where she breathed her last at the age of 92 at 8.12 am on Sunday.

PM pays tribute

Prime Minister Narendra Modi condoled Lata Mangeshkar’s death. She tweeted, “Lata didi’s songs stirred up a wide range of emotions. In the Indian film industry, she closely followed changes for decades. Her passion for India’s progress went beyond films. Always, she wished for a strong and developed India.”

Lata Mangeshkar will live forever

On the death of Lata Mangeshkar, people from all political and Bollywood industries have started giving their reactions. Shiv Sena MP Sanjay Raut tweeted and wrote that Lata Mangeshkar will always be immortal. At the same time, Union Minister Nitin Gadkari said that today I came to Mumbai and heard the sad news. She left a lasting imprint on the world of music.

Lata Mangeshkar was awarded the Bharat Ratna

Lata Mangeshkar was India’s most revered and popular singer. She was born on 28 September 1929 in Indore. Her six-decade tenure has been filled with accomplishments. The playback singer in Indian cinema has sung in more than thirty languages, including film and non-film songs. Lata Ji’s biggest contribution to film music has been film singing, along with her sister Asha Bhosle. Lata’s magical voice is well known both in India and around the world. ‘Bharat Ratna’ was awarded to Lata Mangeshkar by the Government of India.

Budding entrepreneurs paid tribute to the goddess of voice

India’s budding artist, entrepreneur, the musician also paid tribute to him through tweets. Kishanu Karmakar, a well-known digital entrepreneur also paid tribute to the goddess of voice Lata didi through a tweet and said, “She had an art for living life.” And thousands of her songs will not allow her memories to be erased for the rest of her life, which will always be an inspiration for everyone”.

Koo App
Sadly, our dear Lata Mangeshkar has passed away today, but thousands of her songs will keep reminding us of her voice and reminiscence of her. ”She had an art and passion for living life.” It is with great devotion that we pay homage to India’s Nightingale #latamangeshkar #RIPLataDidi #latamangeshkarnomore #goddessofvoice
View attached media content
– Kishanu Karmakar (@kishanukarmakar) 6 Feb 2022

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Bollywood industry expressed grief

With the news of Lata Mangeshkar’s passing, the Bollywood industry has been in mourning. Many musicians have described her death as a big loss. Earlier on Saturday, Lata’s sister Asha Bhosle had to reach the hospital and know her condition. When Asha came out of the hospital, it was evident from the despair on her face that Lata Mangeshkar’s condition was not well. After that, the death of Lata Mangeshkar was confirmed on Sunday i.e. today.

CM Channi’s nephew arrested by ED before Punjab elections; last month, his premises were raided

Punjab News: The Enforcement Directorate (ED) arrested Bhupendra Singh Honey, nephew of Chief Minister Charanjit Singh Channi, for illegally mining sand. Honey was taken into custody by the investigating agency on Thursday evening and will appear before the CBI court today. Money laundering charges brought against Honey were filed with the agency late last night.

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Honey’s premises were raided by the ED last month, leading to the seizure of Rs 8 crore. During the raid, illegal sand mining operations were being carried out in Punjab. According to a statement from the Enforcement Directorate, during the searches, the Enforcement Directorate seized documents relating to “illegal” sand mining and property transactions, mobile phones, gold worth more than Rs 21 lakh, and Rolex watches worth Rs 12 lakh.

Days before the elections for the 117-member Punjab Assembly, an arrest was made. Results will be revealed on March 10 after voting takes place on February 20.

There was an illegal sand mining case registered by Punjab Police in Nawanshahr, Punjab in 2018. Kudratdeep Singh owned a mine in Nawanshahr, so he was the defendant in this case. Kudratdeep Singh is alleged to have founded two companies in which Bhupinder Singh Honey was also a director. There are 26 accused in this case, mainly truck drivers. According to the police, 30 trucks full of illegal sand were seized. According to this FIR, the ED has filed a money laundering case.

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Weather Updates: Next two days are likely to bring rain to these states, snowfall will increase

Weather News: The weather pattern in Delhi-NCR has changed. On Thursday, Delhi’s minimum temperature is expected to be 11 °C and its maximum temperature to be 23 °C. The Meteorological Department predicts a temperature increase of 2-3 degrees Celsius for the northwest and central parts of India over the next two days.

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On February 3 and 4, light to moderate rain is expected in Punjab, Haryana, Chandigarh, Delhi, and Uttar Pradesh. Various parts of Uttarakhand are likely to experience hailstorms on 3rd and 4th February. There has been heavy snowfall in high-altitude areas in Himachal Pradesh, and the state has been placed under yellow alert.

Arunachal Pradesh may experience rain and snow on 4 February. On February 06 and 07, there is a chance of scattered showers and snow in the Western Himalayas.

On 03rd and 04th February, there is a possibility of rain and thunderstorms in Bihar and Jharkhand. West Bengal, Sikkim, and Odisha may also observe rain on the same day. Isolated areas of East Uttar Pradesh, Bihar, West Bengal, and Odisha are likely to experience dense fog overnight and in the morning over the next 24 hours.

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Union Budget 2022: 30% tax to be paid on crypto in India, RBI will bring its own digital currency

Union Budget 2022: In her budget speech, the Union’s finance minister made a major announcement about digital currencies. A digital currency will be launched by the Reserve Bank of India (RBI) this year. It is expected to be released by the end of 2022 or early in 2023. The Central Bank Digital Currency is based on blockchain technology, among other technologies. India’s economy, therefore, stands to benefit greatly from the arrival of the Indian Digital Currency.

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The transfer of any digital asset will also be taxed at 30 percent, as Sitharaman explained during her budget speech. Nirmala Sitharaman points out that virtual digital assets have seen an increase in transactions. As a result, a special taxation system for virtual digital assets is required. I propose a 30 percent tax on all income generated from the transfer of a virtual digital asset. A deduction shall not be allowed for any expenditure or element while computing such income, except for the cost of acquisition for any loss arising from a transfer of virtual digital assets, which cannot be set off against any loss.”

The Finance Minister went on to say that with this budget India would lay the groundwork for the next 25 years. Growth is forecast at 9.2% for the next fiscal year. According to the latest estimates, the Indian economy has grown by 9.2% for the current year.

Unlike cryptocurrencies, digital currencies are more stable and regulated. Unlike digital currencies issued by governments, crypto-currencies and stable coins are decentralized.

According to an analysis by the Financial Action Task Force (FATF), a non-profit organization dedicated to preventing money laundering and terrorism financing, cryptocurrencies offer better privacy than mainstream digital payment methods. These services can be misused by terrorist organizations and criminals for the wrong reasons.

Decentralized cryptocurrencies make it difficult for central banks to control an economy’s money supply since they do not have their most crucial tools.

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Budget 2022 Live Updates: RBI to release digital rupee in 2022-23, Finance Minister Nirmala Sitharaman made an important announcement

On Tuesday, Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 to Parliament. The Modi government has presented its fourth budget in its second term. In presenting the digital budget, Nirmala Sitharaman said that the government has been empowering citizens, especially the poor, since 2014. We are empowering the poor to become more capable. Nirmala Sitharaman announced 400 new Vande Bharat trains with better efficiency would be introduced in the next 3 years.

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Sitharaman said the government has now begun to focus on technology development in her budget speech. To meet this challenge, we are in a strong position. Budget for 25 years, the Finance Minister said. Investments will be made in modern infrastructure. In this budget, the general investment will be encouraged.

Budgets have had a significant impact on the stock market. The government’s priority will be to accelerate the economic activities affected by the pandemic and the challenges it faces.

1) RBI will issue digital rupee in 2022-23 using blockchain and other technology: Finance Minister

2) Finance Minister: GDP will grow by 9.2 percent

According to the Finance Minister, India’s economic growth rate is expected to be 9.2% this year. Among major economies, this is the highest rate. The IMF and World Bank have also projected India’s GDP growth rate to be the fastest in the world.

3) PM e-Vidya to expand from 12 to 200 channels: Finance Minister

4) Focus on domestic oil production: Finance Minister Nirmala Sitharaman

5) Finance Minister Nirmala Sitharaman aims to link five rivers

6) The government will also increase its procurement of Rabi crops, including wheat: Finance Minister

A policy is being developed to encourage fruit and vegetable production. Additionally, he announced the promotion of oilseed production amid high prices for edible oils. The government will also increase purchases of Rabi crops, such as wheat.

The ECLGS scheme has been extended until March 2023 for all hospitality sectors, including tourism and hotels fighting the Corona epidemic. The credit guarantee scheme for small-scale industries has also been extended.

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7) 400 New Vande Bharat trains will arrive in three years: Finance Minister

According to Finance Minister Nirmala Sitharaman, 400 new Vande Bharat trains with higher efficiency will be introduced within 3 years; within 3 years, 100 PM Gati Shakti cargo terminals will be developed.

8) IPO of Life Insurance Corporation (LIC) to come: Finance Minister Nirmala Sitharaman

9) A 5-km corridor will be built on the banks of Ganga: Finance Minister Nirmala Sitharaman

10) We are focusing on enhancing the capabilities of the poor, according to the Finance Minister

Nirmala Sitharaman said that our emphasis is on enhancing the capacity of the poor. The economy will be strengthened by PM Gatishakti.

11) ‘Intention to build 25,000 kilometers of roads’, says Finance Minister in the budget speech

In her budget speech, Finance Minister Nirmala Sitharaman said that 25,000 km of roads would be built. ‘PM Gatishakti’ also emphasizes road transport.

12) Updates on the Union Budget 2022: Finance Minister says ‘PM Gatishakti’ is the key to economic growth

‘PM Gatishakti’ the driving force behind the economic transformation

‘PM Gatishakti’ is our top priority

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