Search Results

< Back Govt planning wider coverage under social security schemes 15 Oct 2024 The revised Jan Suraksha model may provide higher insurance and pension coverage, doubling life and accident cover limits. The Centre is planning to upgrade the Jan Suraksha model to offer wider coverage for life and accident insurance and pension by linking all Jan Dhan account holders. It is also considering increasing the minimum guaranteed pension under the Atal Pension Yojana (APY), which is currently ₹1,000 to ₹5,000 per person. Under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the insurance cover is ₹2 lakh. Currently, insurers and banks have to settle claims within 14 days of receipt, giving one week each to the bank and the insurer. Centre plans to hike premium rates and push prompt claim payment. Banks are advised to proactively inform deceased account holder nominees by identifying the corresponding customers from core banking solutions. Centre had revised annual premium rates to ₹436 for PMJJBY’s life insurance scheme and ₹20 for PMSBY’s accidental death and disability scheme in 2022. Source: ET Previous Next

< Back India to procure ₹10,200 crore ammunition to make Pinaka rockets 30 Jan 2025 The Cabinet Committee on Security (CCS) approved the largest ammunition contract for India to date to procure the ammunition. The Indian government is ready to procure ammunition worth ₹10,200 crore for the Army’s Pinaka multi-barrel rocket launcher systems. Two contracts will be signed to procure highly explosive pre-fragment ammunition (worth ₹5,700 crore) and Area Denial Munitions (worth ₹4,500 crore) developed by the Defence Research and Development Organisation (DRDO) and the Armament Research and Development Establishment (ARDE). The Pinaka system was designed to offer the Army a powerful, multi-barrel rocket launcher capable of quick and accurate heavy firepower. Due to its success rate, the Army already deploys ten of these rockets and is likely to use more. The original version had a firing range of 37.5 kilometres, but the improved Extended Range Pinaka can fire up to 75 kilometres. DRDO transferred the technology to Economic Explosives Limited (EEL) and Munitions India Limited (MIL) to make the ammunition for the rockets. The contracts will be signed by March 31st. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back PayU to enter B2B payments, supply chain financing 16 Nov 2023 It plans to expand its profile once it receives the RBI payment aggregator license. Payments gateway veteran PayU plans to enter Business-to-Business or merchant payments for Indian customers. Once that is set, it will venture into the small ticket supply chain financing space. PayU also acquired a 4.6% stake in the supply chain financing startup Vayana Network. The B2B merchants tie up with multiple payment aggregators, so retention is lower in this segment. PayU intends to use QR codes for offline payments instead of POS terminal transactions. The Reserve Bank of India (RBI) rejected PayU’s application for the payment aggregator license in January this year. The company had to stop onboarding new merchants after this development. It implemented changes in its holding structure, reapplied for the permit, and now awaits RBI’s final nod. PayU used to generate up to 99% of its revenue from payments till FY2019. Now, it generates up to 47% of its revenue from non-payment related operations and 30% from credit. Previous Next

< Back Apple caught in a horde of anti-trust probes in the US 22 Dec 2023 Over a dozen companies approached the Department of Justice (DOJ) to investigate the tech giant for anticompetitive behaviour. Over 12 technology advocacy groups wrote to the US Department of Justice requesting an investigation into Apple’s anticompetitive behaviour. Apple recently blocked Beeper, the messaging service that made iMessage compatible with Android devices through its app Beeper Mini. The move triggered a reaction from a horde of advocacy groups, like Demand Progress, the American Economic Liberties Project, the Electronic Frontier Foundation, and Fight for the Future. Beeper Mini allowed Android users to experience iMessage features like tapbacks, blue bubbles, and end-to-end encrypted messaging between Android and iPhone users. The DOJ has been probing Apple for anti-trust issues since 2020. Tech Oversight Project’s letter to the American judicial body called out Apple for favouring its products and issuing unfair policies for third-party apps and app marketplace. An ongoing anti-trust investigation in Europe could roll out a judgement in early 2024 against Apple’s control over the app marketplace and impose a fine. Previous Next

< Back US Department of Justice sues Apple for monopolising market 22 Mar 2024 The Department of Justice (DOJ) and 15 states sued the phone maker for creating a monopoly in the US smartphone market. The DOJ accused Apple of charging heavily, making more profit than any other smartphone maker, raising prices, and hurting smaller businesses. It levies fees on business partners like software developers and credit card companies in a masked manner to hike its own profits. With this antitrust lawsuit, Apple joined the tech giants, like Google, Meta, and Amazon, who faced similar battles. Apple charges its users a premium for technology products and controls how they work with its devices. It has also been charged with blocking or controlling competing technologies, like super apps, messaging apps, digital wallets, smartwatches, and some cloud-streaming gaming apps. The DOJ aims to force the company to give users more freedom in choosing how apps work with Apple devices. The recently introduced Digital Markets Act in Europe deeply affected the Apple App Store. The Act forces Apple to allow access to third-party app stores on its devices. Previous Next

< Back Italy’s Fontana Gruppo acquires 60% stake in Nashik’s RTF 4 Mar 2025 It is among the biggest foreign investments made in the Indian auto parts industry. Nashik-based Right Tight Fasteners (RTF) will acquire Aurangabad-based BG Fastening and Engineering, Fontana Gruppo’s existing operations in India. Then, Fontana Gruppo will invest ₹1,000 crore to buy 60% stake in RTF. RTF is India’s second largest automotive fastener maker. It operates four facilities in Maharashtra, Uttarakhand, and Tamil Nadu and supplies parts like nuts, bolts, and screws to M&M, Ashok Leyland, Tata Motors, Royal Enfield, Ola Electric, and Bajaj Auto. RTF’s leadership will spearhead the new entity, which will become one of the largest fastener makers in India. In February, the Carlyle Group, a private equity firm, acquired a 70% stake for $400 million in the entity combined after the merger of Roop Automotives and Highway Industries. In 2024, Bain Capital invested in RSB Transmissions. In 2022, Warburg Pincus acquired a controlling stake in Imperial Auto Industries, and Cummins bought a 26% stake in Automotive Axles for $76 million. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

Il pourrait introduire des droits de douane de plus de 60 % sur des produits chinois. < Back Trump annonce des taxes sur le Mexique, le Canada, et la Chine Il pourrait introduire des droits de douane de plus de 60 % sur des produits chinois. Le président élu Trump est revenu sur sa promesse de campagne de supprimer le statut de nation la plus favorisée de la Chine dans le commerce international. Lundi, il a annoncé son intention d'imposer des droits de douane de 25 % sur tous les produits en provenance du Mexique et du Canada, ainsi que des droits de douane supplémentaires de 10 % sur les produits chinois. Les nouveaux tarifs violent les termes de l'ancien accord entre les États-Unis, le Mexique et le Canada, qu'il a signé lors de son premier mandat à la Maison Blanche. Les taxes seront maintenues jusqu’à ce que les deux pays contrôlent le passage illégal de migrants et de drogues. Il a menacé d’imposer des droits douaniers de 200% sur certaines voitures importées, en particulier celles qui entrent aux Etats-Unis en provenance du Mexique. Il pourrait également imposer des tarifs plus élevés sur certains produits européens. Ne manquez pas un autre article de SalestorrsNouvelles150. Suivez Salestorrs sur WhatsApp , LinkedIn , Facebook , X , et Instagram . Previous Next

< Back Cab hailing from Bengaluru airport to become costlier 4 Jun 2024 Currently, Uber charges ₹187 per trip, Ola charges ₹172, and BluSmart ₹218. These airport fees will increase by 30-40% in a few weeks. Airports charge ride-hailing apps a fee for using the airport infrastructure, which is passed on to passengers. Ola, Uber, and BluSmart’s agreements with Bengaluru International Airport Limited (BIAL) are set for renewal, and the airport operator is expected to hike this fee by up to 40% in the next few weeks. The agreement gives ride-hailing apps dedicated pick-up zones and free parking for a period. The airport fee is negotiated based on the number of rides a company makes. Up to 75% of rides from Bengaluru airport are taken by Ola, BluSmart, and Uber. The rest are taken by inDrive, Shoffr, and others without an agreement with BIAL. Mega Cabs, Carzonrent, WTI Cabs, and Karnataka State Tourism Development Corporation have concessionaire agreements with BIAL. Following protests from drivers and passengers, BIAL recently scrapped the new pricing policy charging commercial and private drivers a fee to enter the airport premises. Previous Next

< Back Zerodha Fund House to go live in two months Ishita Nigam 31 Aug 2023 It is a digital-first mutual fund platform that will offer index funds starting from as low as ₹100. There’s a new kid on the block in the fintech space. Zerodha’s new Asset Management Company (AMC) Zerodha Fund House is expected to launch within the next two months. The company received SEBI approval and is completing the formalities to go live with its product range. Zerodha Fund House (ZFH) is a joint venture between Zerodha and fintech platform ‘smallcase’. It is a digital-first financial assistance company that aims to simplify how Indians invest in Mutual Funds, facilitate investor education, and raise awareness. It plans to offer passive products first, like index funds and Exchange Traded Funds (ETFs). Index Funds are mutual funds that follow preset rules and imitate the performance and returns of specific market indexes. They offer a long-term, less risky form of investment. ZFH offerings will begin with ticket sizes as low as ₹100 for most funds, although the exact amount will depend on the product. Previous Next

< Back Phase 1 of Delhi-Dehradun Expressway ready for inauguration 9 Jan 2025 The phase consists of two segments spanning 32 kilometres and includes a 6.5 km elevated corridor. The 210-kilometre-long Delhi-Dehradun Expressway is expected to be operational by this month. The inauguration date will be announced soon. The first of the two ready segments originates at Akshardham, Delhi and includes a 6.5-kilometre elevated corridor. The second segment spans 15 kilometres and connects Ghaziabad and Baghpat on the Eastern Peripheral Expressway (EPE). Phase 2 will connect EPE to the Saharanpur bypass, spanning 118 kilometres. The expressway crosses the Rajaji and Shivalik forest divisions. A 12-kilometre elevated road has been constructed to avoid any adverse impacts on the wildlife. Moreover, the expressway features innovative lighting with a reduced warm light spectrum selected by the Wildlife Institute of India scientists to avoid attracting insects and bats and causing disruption to the cars or wildlife. Noise-absorbing sound barriers have also been installed on this elevated stretch. NHAI has filled rockwool material between two aluminium sheets to absorb excessive noise beyond standard levels. Previous Next

< Back Airbus unveils world’s first hydrogen-powered aircraft. 9 Apr 2025 ZeroE uses hydrogen as primary fuel, which emits only water vapour on combustion. Airbus revealed the world’s first hydrogen-powered aircraft model, ZeroE, during the Airbus 2025 Summit in March in France. ZeroE will have an electric propeller propulsion system running on hydrogen fuel cells that convert hydrogen into electricity. It will feature multi-barrier isolator cabinets for safe hydrogen storage during flight, which demands ultra-low temperatures. ZeroE hydrogen fuel program was announced in 2020 with three concepts, including a Blended Wing Body (BWB) aircraft with a capacity for 200 passengers. In 2022, Airbus changed its plans from BWB to a modified A380, which was recently scrapped due to slower technological advancements. Although the ongoing tests show positive results, the aircraft maker aims to put ZeroE in full-scale commercial deployment by the late 2040s, dependent on easy worldwide availability of hydrogen fuel. Airbus initially planned to manufacture electric aircraft but shifted to hydrogen due to the environmental impact of lithium extraction needed for producing batteries. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Government planning an Employee Provident Fund Org revamp 16 Apr 2024 This plan aligns with the bigger vision of creating a universal social security offering improved service delivery. The Indian government is planning a revamp of the Employee Provident Fund Organisation (EPFO) to significantly improve service delivery. The short, medium, and long-term plans include restructuring its PAN India offices and processes, IT reforms to enable automatic settlement of claims, and cadre restructuring. The plan is to form a social security organisation offering universal coverage and contactless and online services. It is creating a PAN India centralised database to settle claims automatically subject to a validation process. EPFO has commissioned an in-depth study at IIT Delhi to develop reforms to enhance efficiency. The organisation experienced a staff reduction of 21.3% along with a 3.5 times jump in claim settlement in the past ten years. With an increase in the organised workforce, the EPFO subscriber base has expanded by 126% since 2018. The organisation added 6.1 million subscribers in 2018-19 and 13.8 million in 2022-23. Previous Next