An establishment having large businesses of an annual turnover of more than Rs 50 crore will have mandatorily offer an electronic mode of payments to their customers from 1st November, said by Finance Ministry. Moreover, there is no Merchant Discount Rate (MDR) charged by payment and bank impose on the commercial transaction will be charged on either customer or merchants. Payments through digital modes will make transactions for mid and large-sized businesses more transparent and thereby prevent tax evasion. Towards faster adoption of digital payments, finance minister Nirmala Sitharaman in the Union Budget said that business establishments with an annual turnover of more than Rs 50 crore will have to offer low-cost digital modes payments to customers and not impose charges or MDR on customers and merchants. Acco

The advent of the Internet of Things (IoT) and smart technologies is leading the commercial real estate industry to push its boundaries and move towards its long-term goal of achieving self-operating autonomous buildings. The real estate sector become a top priority for digital transformation, Honeywell with its Forge for Buildings platform aiming to reduce the operating expense of a building up to 25 per cent with its advanced technologies. The cloud-based software aims to transform the way companies in India collect, analyse and act on data by optimising their enterprise on a single screen using advanced data analytics. The opportunity for Honeywell to tap the Indian real estate market is significant as the real estate sector in India is expected to reach a market size of $1 trillion by 2030 from $120 billi

Nirmala Sitharaman Finance Minister called up G20 nation to take necessary steps to revive global growth. It is the responsibility of G20 nations, comprising 19 countries and European Union, ‘to navigate the global policy coordination’ by taking strong steps towards ‘building buffer and catalyzing the second wave of reforms’, said by the minister. Sitharaman is leading the Indian delegation to the International Monetary Fund (IMF) annual meeting in Washington DC. The IMF downgraded global growth for 2019 to 3 per cent, its slowest pace since the global financial crisis. It also slashed economic growth forecast for India to 6.1 per cent for the current fiscal from its July projection of 7 per cent, citing weaker than expected outlook for domestic demand. Rising protectionism and uncertainty around trade an

Snapdeal said that, 50 per cent growth over last year from the first two sale edition of this year and is confident of the momentum continuing in the third and final snap Diwali sale which is starts from Today. This Diwali Continues the strong performance with order consistently at more than 1.5 times. Nearly 90 per cent of the order received on the marketplace so far from non-metro cities such as Nagpur, Surat, Vijayawada, Chandigarh, Panaji, Jamshedpur, Shimla, Guwahati, Roorkee, Hazaribagh, Khammam, Tezpur etc. The first time users surged across cities like Nashik, Surat, Chandigarh, Panaji and Guwahati and the overall growth in first time users was 2.3 times YoY. Working closely with its seller-partners & logistics companies. Snapdeal has already shipped out 97 per cent of the Diwali Sale orders so that o

Jet Airways would be the first Indian Company which undergo for insolvency proceedings under the Cross Border Insolvency Protocol along with the Insolvency and Bankruptcy Code (IBC) of India. The National Company Law Appellate Tribunal (NCLAT) had allowed the Dutch court administrator of Jet Airways to attend the meetings of the bankrupt airline's Committee of Creditors (CoC). However, an application filed by the resolution professional and the Dutch administrator to seeking an amendment in the September 26, the order was providing the approval to Dutch administrator that has accepted by appellate Tribunal. On September 26, the NCLAT’s said so that, Joint Corporate Insolvency Resolution Process will continue by Insolvency and Bankruptcy Code 2016. As per the appellant, to clarify that the resolution proce

The resolution plan of debt-laden shadow lender Dewan Housing Finance Corporation Ltd (DHFL) has hit a roadblock after the custodian of DHFL bonds said that it is taking the firm to bankruptcy court on behalf of certain debenture holders. On 16th October the application was filled in the Mumbai Debts Recovery Tribunals to claim Rs 2861 crore ($3.8 billion), also said. DHFL also owes money to about 87000 bondholders. The lenders are currently working on a resolution plan but the majority of its bondholder declined last month to be a party to plan. The proposed plan involves the conversion of debt into equity for lenders and also includes giving them a stake of 51 per cent. Also, DHFL filed the audited delayed for the quarter ended 30th June which was showed posted a net loss of Rs 206 crore in the quarter compared w

Today, cab aggregator Ola launched a self-drive car rental service on its platform ‘Ola Drive’ with a plan to add 20,000 vehicles by end of 2020, according to the company statement on Thursday. In Bengaluru, the services were initially started for users as a pilot. The company plan to launch the service across Hyderabad, Mumbai and New Delhi shortly. This service will introduce for users in Bengaluru through pick up stations located across different residential and commercial hubs. User can choose to book a car of their choice for as little as 2 hours by paying a security deposit starting at Rs 2000. All Ola Drive cars across segments will come equipped with Ola's connected car platform 'Ola Play', enabled through a 7-inch touchscreen infotainment device, and will include GPS, media playback, and Bluetooth co

Volvo, the Swedish luxury carmaker has introduced the first-ever fully electric car, the XC40 Recharge that comes with the brand new infotainment system powered by Googles Android the operating system. On Wednesday, the company did not reveal the price of the vehicle while unveiling it at an event in Los Angles. The XC40 Recharge offers a range of over 400 km (WLTP) on a single charge and output of 408hp, Volvo Cars said. In the company’s digital connected service platform, the android powered infotainment system is fully integrated with Volvo on call. However, Volvo On Call plug-in, hybrid drivers can track how much time they spend driving on electric power. On the other hands, electric driving every Volvo Recharge plug-in the hybrid model will come with free electricity for a year, provided through a refund f