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arenavinita · 1 month

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Axis bank business loan

Axis Bank Business Loan

In the dynamic landscape of entrepreneurship, access to capital is often the key differentiator between a promising idea and its realization. Small and medium enterprises (SMEs) play a pivotal role in fueling economic growth, driving innovation, and creating employment opportunities. However, the journey from conception to establishment and expansion requires robust financial support. This is where strategic partnerships become invaluable. Today, we are thrilled to announce a significant expansion in our suite of services with the introduction of Axis Bank Business Loan offerings.

At Arena Fincorp, we are committed to empowering businesses of all sizes, from startups to established enterprises, with the financial resources they need to thrive. Our collaboration with Axis Bank, one of India's leading private sector banks renowned for its comprehensive financial solutions, signifies a milestone in our mission to support the entrepreneurial ecosystem.

Here's a closer look at the Axis Bank Business Loan details:-

Axis Bank Business Loan Eligibility

Nationality: You need to be an Indian citizen.

Age: Individuals between the age of 21 years and 65 years can avail this loan.

Income requirements: The business turnover, on an annual basis, should be at least Rs. 30 Lakhs.

Now that you know about the eligibility conditions, here’s a look at the different categories of individuals/business enterprises that are eligible for making a loan application:

Companies, both private and unlisted public Ltd.

Partnership firms

Partnerships with limited liability

Self-employed individuals having business registration

Hospitals, educational societies etc. that are registered as trusts and societies

If you want to apply for an Axis Business Loan under the Arena Fincorp, here’s a look at the eligibility conditions:

Nature of business: Small and micro business enterprises engaged in non-agricultural sectors, such as trade, manufacturing or services can apply for the loan.

Maximum credit requirement: Under the Mudra Yojana, you can apply for a maximum business loan of Rs. 10 Lakhs.

Axis Bank Business Loan Interest Rate

Axis Bank offers competitive interest rates for business loans, which are subject to change based on market conditions and the borrower's profile. It's advisable to check with the bank for the current interest rates.

Why Choose Arena Fincorp for Axis Bank Business Loan

Reputation: Research the lender’s reputation in the market, including their track record and customer reviews.

Additional Services: Consider any additional services or benefits provided by the lender, such as business advisory services, online banking features, or special industry-specific expertise.

Loan Products: Assess the range of loan products offered by the lender and determine if they meet your business’s specific requirements.

Eligibility Criteria: Understand the lender’s eligibility criteria, such as minimum turnover, profitability, and credit score requirements, to ensure you meet their qualifications.

Interest Rates: Compare the interest rates offered by different lenders to ensure you get a competitive rate that suits your financial capabilities.

Customer Service: Look for a lender with excellent customer service that can provide guidance and support throughout the loan process.

Loan Amount and Tenure: Check if the lender offers the desired loan amount and tenure that align with your business needs.

Collateral Requirements: Determine if the lender requires collateral for the loan and evaluate if it aligns with your business’s assets or capabilities.

Application Process: Evaluate the lender’s loan application process, including the required documentation and the ease of applying online or through physical branches.

Flexibility: Consider whether the lender offers flexibility in terms of repayment options, prepayment penalties, or restructuring options.

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shivpat333 · 9 months

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Amenities and Location Advantage: What Makes Akshar Business Park Stand Out

In the bustling city of Navi Mumbai, where the demand for commercial real estate is ever-growing, Akshar Business Park emerges as a beacon of innovation and convenience. Developed by the esteemed Akshar Group, this project has quickly gained a reputation for offering Grade-A commercial properties in Vashi that meet the diverse needs of businesses and industries. What sets Akshar Business Park apart from the rest is not just its prime location, but also the incredible amenities and project features it brings to the table.

A Hub of Grade-A Offices

Akshar Business Park is a testament to the vision of the Akshar Group, as it brings together more than 500 Grade-A offices under one expansive roof. This creates a vibrant ecosystem where businesses of all sizes and industries can thrive. Whether you're a finance company, a pharmaceutical giant, an automobile manufacturer, a consultancy firm, a tech startup, or part of the media industry, Akshar Business Park has the perfect office space for you.

Horizontal Layout for Maximum Efficiency

One of the standout features of this project is its unique horizontal layout, covering an impressive area of 1 kilometer. Unlike traditional vertical office structures, this horizontal design maximizes efficiency and accessibility. It allows for easy navigation within the premises, reducing the time spent on commuting between floors and fostering collaboration among businesses.

Exceptional Connectivity

Akshar Business Park enjoys exceptional connectivity, making it a preferred choice for businesses looking to establish their presence in Navi Mumbai. It is well-connected through both rail and arterial roads, ensuring that employees and clients can reach the site effortlessly. The Turbhe Railway Station is just a short 5-minute walk or 500 meters away, while Palm Beach Road, a major transportation artery, is a mere 10 minutes from the location.

Rooftop Amenities Galore

For those who value recreation and leisure, Akshar Business Park offers an impressive array of 17 rooftop amenities spread over 1 lakh square feet, making it the largest in Navi Mumbai. These amenities include lush green gardens, jogging tracks, cafeterias, and relaxation zones. The rooftop spaces provide a serene escape from the hustle and bustle of daily work life, fostering a healthy work-life balance for employees.

Proximity to Commercial Hubs

Strategically situated in close proximity to multinational companies and government offices in Vashi, a thriving commercial hub in Navi Mumbai, Akshar Business Park offers businesses a prime location advantage. This accessibility facilitates networking, collaborations, and partnerships with other established entities, providing ample growth opportunities.

Two Phases of Excellence

Akshar Business Park boasts two distinct phases, Phase I and Phase II, which collectively house leading brands from various sectors including finance, pharma, automobile, consultancy, traders, chemicals, tech, media, and more. This diversity creates a dynamic environment where businesses can interact, share ideas, and foster growth.

Location Advantages Beyond Compare

Apart from its proximity to commercial hubs, Akshar Business Park offers a range of location advantages that make it stand out. It's close to the APMC Market and High-rise Business Complexes, providing easy access to essential services and potential clients. Sanpada Railway Station is a mere 10 minutes away, while Turbhe Bus Depot and Vashi Bus Depot are conveniently located within 5 to 10 minutes. The Thane-Belapur Road and Sion-Panvel Highway are also just a stone's throw away, enhancing connectivity.

For businesses with a broader regional outlook, Akshar Business Park is strategically positioned, with commercial property in Vashi available five times, offering even more opportunities for expansion and collaboration. Additionally, Airoli, Chembur, and JNPT SEZ - Uran are within 15 to 22 kilometers, further enhancing the project's regional accessibility. Furthermore, the proposed Navi Mumbai Airport is a short 35-minute drive, making national and international travel a breeze.

In conclusion, Akshar Business Park is more than just a commercial real estate development; it's a strategic investment in the future of businesses. Its impressive amenities, innovative layout, and unbeatable location advantages, including the availability of commercial property in Vashi five times over, make it a standout choice for businesses looking to thrive in Navi Mumbai's dynamic market. Whether you're a startup seeking to make a mark or an established industry leader looking to expand, Akshar Business Park offers the perfect setting for your success.

For more visit — https://www.akshardevelopers.com/akshar-business-park.php

This Article is Submitted in Medium

#commercial property in vashi #commercial buildings #akshar developers #akshar business park

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purpleloveenthusiast · 9 months

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10 best manufacturing business ideas under 10 lakhs, check full list below

Starting a manufacturing business is not as tough as it looks, one can start a profitable business with low investment. Here are the 10 best manufacturing business ideas under 10 lakhs Many people want to start their business, some want to begin with a simple business, while others want to start with a manufacturing business. Every business requires some capital, and many people want to know if…

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financelatestnews · 10 months

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5 Government Business Loan Schemes in India 2022

An economy's growth depends on its MSMEs (Micro, Small and Medium Enterprises). MSMEs always provide a remedial solution to the significant economic problems such as poverty, unemployment, income inequality, regional imbalances and so on. Its vital role ensures a balance in local development, and income equality. This industry is responsible for providing employment to millions of people in our country, and the harnessing of local talent which in turn plays a pivotal role in contributing to the GDP of the country.

At present, the MSME sector is responsible for creating around 11.10 crore jobs across the country. That’s why this sector is also known as India’s engine of growth. MSMEs contribute to 8% of the overall GDP, around 40% of the total exports, and 45% of the country’s manufacturing output comes from this sector.

MSMEs are part of the organized as well as the unorganized sectors. Yet, like all fledgling businesses, an MSME entity faces a lot of hurdles to get the right kind of financial support for various activities including, obtaining infrastructure to support existing business activities or for business expansion.

Business Loan by Government

MSME (micro, small, & medium enterprise) sector is the heart of the Indian economy. The sector is known for being the largest job creator in India and contributes almost 30% to overall India’s GDP.

Given the sector’s importance and the role it plays in India’s growth, the Government of India offers various credit schemes to strengthen the MSME sector.

Business loans by the government offer the right kind of financial backing to MSMEs to support the existing business activities and drive expansion. Also, the start up business loan by the Indian government provides easy access to capital to convert bankable business ideas to profitable ventures.

1. MSME Loan in 59 Minutes

This scheme, also known as PSB Loan in 59 minutes, launched by the Government of India in which introduced a quick business loan portal for the individuals who need to expand their existing business.

Must Read: Everything You Need to Know about Business Loan

Under this scheme, MSMEs can get loan amounts from INR 1 lakh to INR 5 crores from public and private sector banks and NBFCs (Non-Banking financial companies). MSME/PSB Loans in 59 minutes provides you with the required financial resources in the stipulated time and pretty quickly.

Which business/enterprise is eligible for his loan scheme? So there are some factors which determine the eligibility of business:

Income/Revenue

Repayment capacity of the borrower

Existing credit facilities

Other factors set by the financial lender.

There are other benefits to this scheme as well;

The entire loan process expects to be duper quick and too, with minimal documentation.

The loan processes without human intervention until the last stage of the loan sanction. That is why it is an Advanced Technology Backed Loans scheme.

The loan process always needs a lot of safety and security of applicants details. So, considered this issue, the entire data of the applicant keep safe and secure with the highest level of security

2. Pradhan Mantri MUDRA Yojana (PMMY)

MUDRA stands for Micro Units Development and Refinance Agency Ltd.

MUDRA provides refinancing support to Banks and NBFCs for lending to Micro units having loan requirements up to INR 10 lakhs under the scheme of Pradhan Mantri MUDRA Yojana. Under PMMY, MUDRA divided the loan into three categories as ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth/development.

Presently, the purpose of Mudra Loan is not to develop small units but it is offered as a;

Business loan for the vendors, traders, shopkeeper and other service activities.

A working capital loan through Mudra card;

Loan for tractors, two-wheeler, or another Transport vehicle (only for commercial use)

Equipment finance for micro-units.

Against the Mudra loan amount, it issues a MUDRA Card (as a debit card). Borrowers can use it for multiple withdrawal and credit facilities so that they can manage the working capital limit efficiently and keep the interest burden minimum. Mudra cards also help in digitalization of all Mudra transactions and keep a record of borrower’s credit history.

3. Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGFMSE)

CGFMSE is a Government business loan scheme launched by the Government of India (‘GOI’) allowing collateral-free credit to the MSME sector. It includes both existing as well as new enterprises. The Ministry of MSMEs and Small Industries Development Bank of India (SIDBI) established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement CGFMSE scheme. Under this funding scheme, MSMEs get access to a loan amount of up to INR 200 lakhs with a special preference to eligible women.

The Guarantee Cover is available to the extent of a maximum of 85% of the sanctioned amount of the credit facility. The fees charged by the trust funds is 1% per annum of the amount sanctioned:

0.75% for credit up to Rs. 5 lakh;

0.85% for credit above Rs. 5 lakh but up to Rs 100 lakh

As per the eligibility criteria, the already existing or newly established enterprises who are engaged in the following activities are eligible for this scheme,

1. Manufacturing activity

Retail trade;

Educational institutions;

Self-help groups;

Training institutions.

2. Service activity, except

Must Read: 10 Types of Business Loans in India [Compare & Choose Best]

4. National Small Industries Corporation (NSIC)

NSIC is an ISO certified Indian Government enterprise under MSMEs. It is working to aid and promote the growth of MSMEs by providing combined support services encircling finance, marketing, technology and other allied services all across the nation. To encourage the growth of MSMEs, NSIC provides various schemes:

Marketing Support Scheme - Marketing support is significant for the development of any business and also crucial for the growth of MSMEs in the present intense competitive market. To support such enterprises, NSIC devised schemes such as Consortia and Tender Marketing. NSIC forms Consortia of MSMEs working on behalf of MSMEs to reduce their burden), Marketing Intelligence (NSIC setup marketing intelligence cells to spreading awareness about several schemes for MSMEs) and Exhibitions and Technology Fairs.

Credit Support Scheme - Under this scheme, NSIC provides finance for raw material procurement, finance for marketing activities and finance through syndication with banks to MSMEs.

5. Credit Linked Capital Subsidy Scheme (CLCSS)

CLCSS is an innovative credit scheme launched by the Ministry of MSMEs with the primary objective to aid the technology up-gradation of MSMEs, especially in rural and semi-urban areas. Under this scheme, businesses can opt for a 15% subsidy on investment in eligible machinery. However, there is a maximum cap on the subsidy restricting it to INR 1 crore.

The CLCSS offers various benefits to small scale industries that are:

It provides 15% subsidy for purchasing an eligible plant, equipment and machinery which help in reducing the overall burden of small scale industries;

Help small scale industries to upgrade to the latest and required technologies,

It boosts the growth of rural industries which can now manufacture high-quality products.

Business Loan from Fullerton India

Get up to Rs. 50 lakhs in business loan from Fullerton India if you intend to purchase machinery, raw materials and equipment to expand your enterprise operations, to invest in fixed assets or even to meet requirements for working capital. Conveniently apply for a business loan online by first checking your eligibility.

Age Criteria: Minimum 22 years at the time of application and maximum 65 years of loan maturity

For Individuals: Individuals who have been involved in the present business for a minimum of three years and must possess a total of five years of business experience

Company Type: Self-employed individuals, proprietors, private limited companies, and partnership firms working in manufacturing, trading, or services.

Business Turnover: A minimum of Rs. 10 lakhs per year

Business Vintage: Minimum 2 years in profit

Business with a Minimal Annual Income (ITR) of Rs. 2 lakhs per year

Use our business loan EMI calculator to check your monthly instalment before you proceed to make your loan application with Fullerton India.

Source: https://www.smfgindiacredit.com/knowledge-center/government-business-loan-schemes.aspx

#business loan EMI calculator #business loan

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franchisebazarcom · 2 years

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Now that we have got a view of the Best Manufacturing Business in India followed by some of the Best Manufacturing Franchises in India, let us further understand some Manufacturing Business Ideas in India which can guarantee you profitwith a low investment of under Rs. 10 Lakhs.

#Best Manufacturing Franchises in India #Manufacturing businesses #franchise business in mysore #best franchise business #franchise opportunity

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taxfiling · 2 years

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Online GST registration

Online GST registration, GST registration certificate, Voluntary registration under GST

What is GST?

GST (Goods and Services Tax) is now in effect for all manufacturers, traders, and service providers in India (including independent contractors). According to the Council, businesses in the North and hill states having a yearly revenue of at least R. 10 lakhs must register for GST. If annual revenue exceeds Rs. 20 lakhs, all other businesses in the rest of India must register for GST.

About a month from now, the Union Budget 2014–15 will be presented. Everyone hopes that the policies will be "business friendly" and enable the Indian economy to grow more quickly. Richard Grave (1959) clearly explained the fiscal role of the government using the divinity of allocation, distribution, and stability. The ability to charge taxes is one of the State's monetary authorities.

All of India's states will be subject to the Goods and Service Tax (GST), which is designed to be a standard tax on goods and services. It is a part of the credit constraints intended to replace many of the complex indirect tax systems that are already in place in India. The GST is said to be a more simple taxation system that will accomplish a number of goals, including:

Reducing the tax burden

Increase in the tax base

Increasing the tax revenues.

One hopes that the State's budget strategy for the 2014–15 financial year will include specific moves toward a Gst law. After all, conceptual discussion of the GST began in 2000, which is over 14 years ago. Following that, there was little progress made toward GST for six years. The idea was brought up again in the 2007 budget when the finance minister stated that the GST will be put into effect by the year 2010. Many initiatives were made, including the formation of Joint Working Groups and Empowered Committees. But despite the fact that a Constitution Amendment Bill was introduced to allow for the imposition of GST, we are still a long way from having a GST regime.

An opportunity for the various industries to review and comment on the proposed GST paper.

Finality with respect to which indirect taxes would be incorporated into the GST

Confirmation that the introduction of the GST won't result in the establishment of any new taxes.

Transitional rules guarantee the maintenance of current benefits.

The limitation of cross-credit applications is an issue that trade associations have brought to light. As a result, business entities may be forced to reject the benefit of loans while still making payments.

Allowances related to the movement of goods on stock transfers, exports, etc. will not be denied or reduced.

The GST rollout is maybe still far away, despite being so close. Without all of the worries being addressed, it cannot be put into effect. One can only hope, once more, that the budget policy for 2014–15 will include a more specific path for the early implementation of a GST in India, given the advantages are allegedly significant for both sides.

All service providers, buyers, and sellers are required to get one tax (GST) for their operation. Learn more about the GST registration fees.

Details on the GST Registration Process can be found here.

#Online GST registration #GST registration certificate #Voluntary registration under GST #compliance assessment of data processing #compliance audit procedures #compliance services in india

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truthshield · 2 years

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How a rural entrepreneur used solar power to green his innovation

When Haryana-based farmer Dharambir Kamboj returned to his village in Damla after an accident during his rickshaw pulling days in Delhi, little did he know that his penchant for inventions would lead him to a clean-technology innovation. In 2017, the 59-year-old entrepreneur turned his invention into a company, Dharambir Food Processing Pvt Ltd., which he runs today along with his 31-year-old son and clocks over a crore of rupees in turnover. “Since childhood, I had an interest in inventing machines and when I visited some farmers in Ajmer who were using makeshift ways to process food, I saw the potential of an automatic food processor that would crush, pulp, deseedand extract juice.” And that is what he went on to design —a food processor that along with the usual functions also mixes, pulverises, steams and pressure cooks. The machine has the capability of processing fruit, vegetables, seeds, herbs and flowers, making it equally capable of oil, gel and essential oil extraction. The machine was then patented and validated by the National Innovation Foundation. Though Kamboj was getting good orders for his machine, the story turned into one of clean technology, when the company was cherry picked along with five other ventures for grants by Villgro Innovations Foundation and Council on Energy, Environment and Water (CEEW) in 2020, under their Powering Livelihoods programme aimed at boosting “India’s rural economy by scaling up the penetration of clean energy-powered appliances for livelihoods.” Going solar “It was their idea (Villgro and CEEW) and adapting the machine to run on solar power was not so difficult. When I was working on making it a hybrid model that could work on solar, batteries, a generator or electricity, I kept wondering why I had not thought of it before,” says Kamboj, thankful to the organisations for nudging him towards it. Today, it is bringing him accolades as well as export orders from Tanzania, Zimbabwe, Nigeria, Uganda, Kenya, Nairobi, and may even turn into a technology sale in Malaysia. Local manufacturing Meanwhile, Kamboj says that the big fish always try to eat the small fish, and he has had several large companies offering to buying him out. However, he and his son wish to grow the business independently and by manufacturing the machine in the village vicinity they are providing jobs and livelihood to many. Kamboj makes machines in several sizes for different pockets. The smallest processes around 40 kgs in an hour and costs ₹60,000, while the big machines can process 200 kgs per hour and costs ₹2 lakh. His son Prince, who virtually runs the company, explains that shifting to solar has brought with it huge savings in electricity and more interest from different parts of the world. Published on July 10, 2022 https://ift.tt/MDesi8F https://ift.tt/ioh45ck

#Saas #softwaresystems #productdevelopment #software #practice #optimization #accuracy #efficiency #productivity #softwareprojects #cracksthecode

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doyothirdpartymunuifacture · 3 years

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Their Party manufacturing Company in India- DOYO

A third-party manufacturing company in India - DOYO, the leading third-party Pharma manufacturing company - is ISO certified and has 25+ different products. Segment manufacturing while all manufacturing plants are WHO and GMP certified. Becoming a certified third-party manufacturing company in India. We have one-stop solutions that include leadership and consultation on pharma marketing, unique and innovative packaging, and packaging content concepts to meet all needs. We provide clinical trials and lab tastes as well as quality assurance for the entire product.

DOYO is a leading third-party manufacturing company in India offering tablets, capsules, powders, injectors, and oral solutions such as high-shear granulation, B-layers, liquid-bed processing, and film coatings. If you are looking for manufacturers who are involved in integrated manufacturing then join us. We are also developing products on customization.

Strenuously Growth of the Pharmaceutical Industry:-

The pharmaceutical industry is growing at a growth rate of over 20% CAGR. The fast-growing Indian pharmaceutical industry is also giving a boost to the Indian economy. Not only that, but India is the largest manufacturer of generic drugs and exports them to different parts of the world. With this rapid growth rate, it is believed that India will soon be in the top 10 in global markets. Join a versatile third-party pharma manufacturing company to start your franchise company.

Quality Pharmaceutical Products List:-

DOYO has always dedicated itself to bringing better quality drugs. We deal in over 300+ drug formulations to cater to different markets and therapeutic segments of the pharmaceutical industry. We are constantly in touch with the growing demand of consumers. Known for our patient-centered approach, we have ensured that our partners will enjoy quality, sustainable, effective, reliable, and secure solutions. They approve DCGI with FSSAI certification. Our products include pharma tablets, capsules, soft gels, injectable, powders, sachets, etc. These include the following categories:

• Anti-Alcoholism

• Anti-Allergic

• Anti-Arthritic

• Antibiotics

• Anticonvulsants

• Antidepressants

• Antidiabetics

• Antiemetics & Vertigo

• Anti-Inflammatory

• Antimigraine

• Antiparkinsonian

• Antiplatelets

• Antipsychotics

• Antiulcer Hyperacidity

• Anxiolytics

• Cerebral Activators

• Dermatological

• NSAID’s

• OTC Products

• Supportive medication for COVID-19/Coronavirus

• Vitamins & Minerals etc.

Associate with the Best Third-Party Manufacturer in India:-

DOYO is a leading pharma manufacturing company in India manufacturing quality products under GMP-WHO integrated manufacturing units. There are over 150+ affiliates who have joined us for our manufacturing facilities. We manufacture products on bulk orders that reduce production and labor costs. The features of a third party manufacturing company are

1. Advanced Equipment - We have GMP. Also, the manufacturing unit is high-tech and equipped with state-of-the-art technologies.

2. Functional Services - Third-party manufacturing companies are providing services such as on-time delivery, sales, and product marketing. Third-party services give you plenty of room to think about marketing with more ideas.

3. International Appreciation - A third-party manufacturing company manufactures products with a lot of time and space by working on every aspect of the manufacturing phase. Our manufactured products are receiving international and global praise all over the world.

4. Nurture your business with a low budget - Third-party manufacturing companies offer you the opportunity to grow your business venture on low investment. We make sure we create the best products for our customers so that they can grow further.

100% Quality Assurance at DOYO for Pharma Manufacturing:-

DOYO provides our customers with 100% quality assurance. Our company adheres to all international quality standards to meet the quality standards of manufactured products. We very examine about the quality of the product. Our manufacturing team works tirelessly to meet customer demand at any cost. We work to make our partner happy that he has invested his money in the right place. If you are also looking for a loyal and hardworking third-party manufacturing company in India then do is a better option.

- Strict products are displayed under strict screening criteria.

- The Quality Management Team closely monitors every step.

- H pH values, side effects, efficacy, freshness, and purity, etc. are all major elements of this screening.

Services Offered by the DOYO for Third-Party Manufacturing Company:-

DOYO is the third manufacturing company to offer its services across the country. Many pharma franchises are looking for third-party manufacturing services. We believe that it is the efforts of both companies that make the business successful.

We are providing our partner with many different categories and services

. We offer high-quality products in well-designed and packing materials.

We assure you of 100% best quality products from our end with incredible creations. Once disinfected, we deliver all stock to our customers and clients in complete safety. Our company assists in formulation trademark and drug registration.

Documents Required To Be Submitted for Pharma Manufacturing Services:-

Our company is very professional when it comes to manufacturing services. Anyone wishing to join us for our services is required to submit the following documents:

Details Signed and contracted construction agreement with full details

Non-identical certificate

Corporate office address

Company profile signed by direct directors or participants' documents (Aadhaar card and PAN card)

Copy the resolution to the authorized signatory deal

Drug license

Sales Tax

TIN or GST Registration Certificate

Logo and brand values

Ronal tonality and design (if)

Important Information Related to Our Manufacturing Services:-

DOYO is providing true and excellent third-party manufacturing services to companies around the world. We are providing exceptional services and some of the leading pharmaceutical companies like Dr. Reddy, Sun Pharma, Waters, Zeds Cadila, GAIA. Etc. We've listed some important information for those who want to join us:

Acceptable Batch Size / MOQ Q

Capsules - 1 million

Ry dry syrup - 20 million

ENT Medicine - 0.5 million

• Perfume - 1 lakh

OTC medicine - 1 lakh

Pharma

injections - 0.5 million

Pharma tablets - 10 million tablets

• put • fear - 0.5 million

• Syrup - 10 lakhs

Note: Batch sizes may vary for beta formulas or complex formulas. For information, contact us! Packaging Costing Atch Batch Expenses - (Quality Control, Consumer and Local Transportation Costs)

Price of pack packing material

Product

Raw material price

A fact construction costs.

Ur Securities

Transit Insurance

Tax (GST applicable)

Process loss for RRM and PM etc

Expeditious and Secure Logistics Service in India For Third-Party Manufacturing:-

Well, we all know that coronavirus outbreaks have hit the industry hard. But we are associated with the best logistics service in India which is very responsible and serious about its duty. They are cleaning the products and then delivered them safely to your place without any delay. With the help of our logistics team, we are reaching out to our partners and customers across the country. Trust our services and products, we will not disappoint you.

#https://doyo.co.in/third-party-product/#thirdParty Partymanufature

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financialmunshi-blog · 5 years

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Financial Munshi – A Consultancy for All kinds of Financial and Taxes Assistance

Business can be anything which is letting you earn money i.e. from small tailor shop to large manufacturing unit, from Diet Consultant to stock broking consultancy, from Retail shop to E-commerce unit.

The needs of the house for every business owner or service provider are the following:

- On-Demand/ Monthly/ Quarterly/ Yearly Profitability

- Budgeting and Costing

- Cost-benefit analysis of business decisions

- Business Trends and Analysis on a daily basis to improve the week areas

You bring us the question, we will just not answer it, we will do it.

Get free consultancy, if you are satisfied, set up a meeting which can be as per your convenience i.e. face to face or video conferencing, your place or our office.

A free mind is the best place to grow, we want you to grow by letting us free your mind.

Financial Munshi helps you connect with professionals with expertise in all spheres of business verticals. For Example, get the idea about HRA and claim by us-

HRA exemption can be claimed under section 10(13A) of the Income-tax Act, 1961. To calculate this exempted amount, the lowest of these three is considered:

1) Actual HRA received from the employer,

2) 50% of salary if the employee lives in a metro city, and 40% if the employee lives in a city other than a metro, and

3) Actual rent paid minus 10% of salary (basic plus dearness allowance plus turnover-based commission).

In case of a home loan, the deduction on principal repayment can be claimed under section 80C of the Income-tax Act, up to the threshold limit Rs1.5 lakh, or the actual principal repaid whichever is less. The benefit on the interest portion of the loan repayment can be claimed up to the threshold limit of Rs2 lakh, under section 24b of the Act.

You will have a direct telephonic conversation with the professional who is specialized in the business vertical based on the preferences you have chosen above.

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financeseva-loan-provider · 2 years

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Business Loan in India

Government of India offer business loan in India for new startup by introducing various startup schemes.

As there are more than 40,000 startups in India at current present who have access to many private equity and other debt financing options.

However, it becomes a challenge to get funding when business is just an idea or initial stage. Micro small medium enterprises (MSME) sector in India has only limited access to formal credit which is why the government of India decided to launch startup business loan schemes for MSMEs and startups.

In recent times, the small industries development bank of India (SIDBI) has also begun lending to startups and MSMEs directly rather than doing a channelizing it through private or public banks.

Generally, the interest rate on these business loans are lower as compared with other loans. Some of the most notable and popular schemes offered by the Indian government for startups and MSMEs are as follows:

Bank Credit Facilitation Scheme: This scheme aims at meeting the credit needs of the MSME units. NSIC has been partnered with several banks to provide financial support to MSME units.

Credit Guarantee Scheme (CGS): Under CGS, both new and existing MSMEs units engaged in manufacturing or services activity can avail loan up to 2 crores.

Pradhan Mantri Mudra Yojana (PMMY): It aims to offer loans to all kinds of trading, manufacturing or service sectors activities. The loan under PMMY scheme has been categorized into 3 categories namely Shishu, Kishor and Tarun.

Stand up India: This scheme extends loans to enterprises in manufacturing, trading or services. The loan ranges from Rs. 10 lakhs to Rs.1 Crore can be availed.

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newbusinessideas · 26 days

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Top 10 Small Business Machines Under 1 Lakh

Starting a small manufacturing business can be an exciting venture, but it often requires the right machinery to get started. With technological advancements, numerous affordable machines are available that cater to various industries and production needs. However, for many entrepreneurs, budget constraints pose a significant challenge when it comes to investing in equipment. Thankfully, there…

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taxacademy · 2 years

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What's the difference between start-ups and SMEs?

SMEs (Small and Medium Scale Businesses) get bank and NBFC business loans, while a start-up receives funds through investors. This is a fundamental difference between start-ups and SMEs.

What is a start-up?

Start-ups are a new concept in India, including all over the world. It is slightly different from the ultimate business and matches to some extent. Yes, it has both qualities. The concept of 'start-up' is based on the foundation of innovation, i.e., innovation, innovation, innovation, innovation. The goal of a start-up is to establish its product in the market and keep a place in the market for a long time.

Understand this in simple and intuitive language that when a business is started with a new idea, it is called a start-up. The new idea means that 'the idea of doing business should be unique so that the consumer gets the best experience.' At the same time, a start-up is expected that no one should copy the idea of the business.

What is SME?

SMEs or full form are Small Medium Enterprises (SMEs). SME includes the business of traditionally run service sector (service sector) and manufacturing sector. The business of the SME sector is started mainly to make a profit. Small Medium Enterprises (SMEs) can be profit-making from the first day of commissioning.

There is no innovation approach behind the SME business, but the business is started based on the need of the market and the number of customers. Small Medium Enterprises (SMEs) are called small businesses, medium class businesses, etc., in common parlance.

What's the difference between start-ups and SMEs?

As mentioned at the beginning of this article, 'Startup' is a new term for business based on innovation. The goal is to meet the needs of the people in a new way. For example, let us tell you that zip loans are a successful start-up in the fintech sector. ZipLoan provides business loans of up to Rs 7.5 lakh to MSME and SME business people in just three days without mortgaging anything.SME is a traditionally run business purely aimed at making a profit. SME Business can be a businessman running a grocery store on your street and may also be the urge to make a steel pot by melting the steel. At the same time, there are a lot of differences between start-ups and SMEs. Let's understand.

Differences in the definition of start-up and SMEs

The Government has made a certain definition of India for all the businesses in India. Based on the definition, businesses are taxed, and a government plan is created. According to the Government of India, the definition that has been prescribed for start-ups and SMEs is as follows:

Definition of Start-up

"A start-up is a business unit; a company will be considered a start-up for ten years from its registration. Any technology or intellectual property-driven start-up working towards innovation, development, processing or commercialization of new products or services, as long as it is a start-up, the turnover of any financial year of that company does not exceed Rs 100 crore."

Definition of Small Medium Enterprises (SMEs)

There are two businesses under SME.

Small Enterprise (Small Scale Industries) and Medium Enterprises (Medium Industries)

The definition of MSME was changed at the time of the lockdown. The following is the definition of an enterprise that falls under SME:

Definition of Small Enterprise: Industries with investments of up to Rs 10 crore and have an annual turnover of up to Rs 50 crore are considered small unit enterprises (small scale industries). This definition is valid for both the manufacturing and service sectors.

Definition of Medium Enterprise: An industry with an investment of up to Rs 30 crore and an annual turnover of up to Rs 100 crore is considered a medium enterprise( medium industry). This definition is valid for both the manufacturing and service sectors.

The difference in profits between start-ups and SMEs

A major difference between small-medium enterprises (SMEs) and start-ups is 'profits.' A start-up is first established to set up a new business idea, and a new concept for the business is conceived. The business is set up in the market, and then the profit is thought about. At the same time, small-medium enterprises (SMEs) are set up for profit.

As an SME, it comes from setting up a shop to set up a medium-level power plant. The motive behind establishing all these is that profits start coming from the first day itself, and it also happens. Expecting profits from the initial year of a start-up is like turning the tide on one's expectations.

The difference in Main Power between Start-ups and SMEs

a start-up is a job of giving shape to a new business idea. It is very labor and jointly done by many people, and it takes a lot of people at once to run a start-up.

But, that's not the case with Small Medium Enterprises (SMEs) because there can be a shop in SMEs and a medium-level factory. So, here, as per the requirement, the main power is applied. In SME, a person can also work alone and extract profits according to his need. While with start-ups, this is not possible because start-ups are not a store but can have a shop in SMEs.

The Difference between Raising Funds between Start-ups and SMEs

Be it small-medium enterprises (SMEs) or start-ups; both require money to run them Where the money for the start-up is received through investors. At the same time, government-run start-ups are also available for start-ups by India. At the same time, small-medium enterprises (SMEs) are started with their own money.

However, the loan is available through the Mudra Loan Scheme run by the Government, but most of the money has to be invested by you to start a business. Yes, with SMEs, there is this feature that when the business has to be expanded, business loans from many financial institutions are very easily available.

If you want to get more details the visit our website: https://www.taxacadmy.com/new-business-startup.html

#SME startups in India

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fillingbyexpert · 2 years

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MSME Registration In India

Who is eligible for MSME registration?

Eligibility, Process, and Requirements for MSME registration in...

Micro enterprises – The investment doesn't exceed Rs 25 lakh.

Small enterprises – The investment is more than Rs 25 lakh but doesn't exceed Rs 5 crore.

Medium enterprises – The investment is more than Rs 5 crore and doesn't exceed Rs 10 crore.

Is MSME registration free?

Udyam (MSME) Registration is Free of Cost and paperless and no online or offline agency, institution or consultant is authorised to charge any fee or money.

What are the benefits of MSME registration in India?

Some of the other added benefits of getting your MSME registered under the provisions of these laws are summarised in the section below.

Bank Loans (Collateral Free) ...

Subsidy on Patent Registration. ...

Overdraft Interest Rate Exemption. ...

Industrial Promotion Subsidy Eligibility. ...

Protection against Payments (Delayed Payments)

Which bank is best for MSME loan?

MSME Loan Interest Rates by Top Banks in 2022

Bank Name Interest rate

ICICI Bank 13% p.a. onwards

Central Bank of India 11.25% p.a. onwards

Indian Bank 9.75% p.a. onwards

Punjab and Sind Bank 9.95% p.a. onwards

Who is covered under MSME?

23 min read. MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy. When these industries grow, the economy of the country grows as a whole and flourishes.

Is there any turnover limit for MSME?

50 crores (as per NMN) is not exceeded and turnover limit of Rs. 100 crores (as per LSN) is not exceeded but 10 years have lapsed since date of incorporation, then enterprise will be MSME but will not be a start-up. If investment limit of Rs. 50 crores (as per NMN) is exceeded but turnover limit of Rs

How do I start a business with MSME?

Step-by Step approach to start an MSME. ...

Making a Product Choice.

Filing of Entrepreneurs Memorandum.

Section 8 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 provides for filing of memorandum by a Micro, Small or Medium Enterprise. ...

Download Registration Forms & Related Documents (Proforma)

Which business is best under MSME?

List of Profitable Business Ideas for MSME

Gold and Diamond Jewellery.

Ladies Undergarment.

Cold Storage (Shrimp & Agricultural Products)

Skill Development Centre.

A4 and A3 Size Paper.

Acetaldoxime or Acetaldehyde Oxime.

Production of Jute Gunny Bags.

Graphite Crucible.

How can I start a small industry?

Small Scale Industries in India

#1 Selection of Products. By conducting a market research, one could decide the product that they want to manufacture. ...

#2 Location of Enterprise. ...

#3 Deciding the Organization Pattern. ...

#4 Project Appraisal. ...

#5 Registration with the Authorities.

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gravyt · 3 years

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What are Thematic Funds? Should you invest in one?

Thematic Mutual Funds are one of the types of Equity Mutual Funds. At least 80% of the portfolio is invested in Stocks/Shares. But, these are not commonly talked about like other types of funds such as Large-Cap, Mid-Cap, Multi-Cap, Index Funds.

So, let’s understand this category in detail.

The Fund Manager of Thematic Scheme selects one main theme and picks up stocks related to the same.

Some examples of Themes for Thematic Mutual Funds,

FMCG (Fast Moving Consumer Goods) Theme

Manufacturing Theme

MNC Theme

ESG (Environmental, Social and Governance) Theme

Energy Theme

Infrastructure Theme

Commodity Theme

Investors who have a positive outlook on the specific theme, invest accordingly. The performance of these funds entirely depends on that particular theme.

Now, some people may get confused about Thematic funds and Sectoral Funds. But, these are two different categories. (Read our latest blog)

Scope of diversification makes these two categories separate. Sectoral funds invest only in one particular sector.

For example, a technology fund would be investing in companies engaged in the technology sector such as Infosys, TCS, HCL Technologies, etc.

On the other hand, Thematic funds have a wide scope of investment diversification. Under one theme, there can be investments in multi-sectors.

Advantages of Thematic Funds:1. Portfolio Diversification:As earlier specified, Thematic funds invest around one core theme. But, the portfolio might have been constructed around different sectors. For example, a Fund Manager of ESG Theme can invest in the Power, IT, Retail sectors. Under commodity funds, sectors like Metals, Chemicals, Construction, Energy are included.2. Future-Oriented:A Fund Manager of Thematic Fund would want to capitalize on future trends. He constructs a portfolio around themes, Government policies, ideas, etc. He follows a Forward-looking approach. This strategy can help investors to generate alpha in investment.3. Lucrative Returns:If you can choose the right theme at the right point in time, you may get very good returns on your portfolio. For that, you need to have a proper understanding of that particular theme in which you are investing.Disadvantages of Thematic Funds:1. High Risk:Since the portfolio is dependent on a particular theme, a fund may not generate good returns in all market cycles.2. Higher Expense Ratio:The construction of a portfolio of Thematic funds requires a high understanding of that particular theme, business, and core analysis & research. Hence, the expenses ratio would be a little higher as compared to other Mutual Funds.Few important points to remember while investing in Thematic Funds:

Invest in a thematic fund only if you understand that theme deeply. Avoid investing in thematic funds based on past performance.

Analyze consistency in returns of the fund. One or two years’ returns are not the correct indicator.

Choose the fund that has a lower expenses ratio.

Should you invest in Thematic Funds?

You can consider this category for investment if,

You are ready to take High Risks with your portfolio. These are purely Equity Funds, hence, the risk is on a higher side.

You are investing for a long-term purpose. In the short run, these can be very volatile being an Equity fund and constructed around a theme.

You can identify the future growth themes. Thematic funds are for those investors who have strong knowledge about business, market, Economy. Because, if you choose the wrong theme, you will be at a loss.

You have already invested in basic Equity categories and want to diversify your portfolio. Make sure that exposure to this category is less than 10% of your portfolio.

Taxation of Thematic Funds:

If you withdraw your investments within 12 months, the returns would be taxed at 15% as short-term capital gains. If you withdraw money after 12 months, the returns would be tax-free up to Rs 1 lakh. Beyond Rs 1 lac, being an Equity fund, the excess would be taxed at a flat rate of 10%.

Few Thematic Funds you can consider for investing:

Invesco India ESG Equity Fund Regular Growth

Tata Resources & Energy Fund Regular Growth

ICICI Prudential Manufacturing Fund

SBI Magnum Global Fund (MNC Fund)

ICICI Prudential Commodities Fund

Hope that you got all the information regarding the Thematic Category.

All the best for investing.

Do share this blog with your friends and family.

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classyfoxdestiny · 3 years

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Business news live - The Hindu

2:05 P.M.

China regulator approves establishment of state pension company

China’s banking and insurance regulator said it had approved the establishment of a state pension company to boost funds for its citizens’ retirement as the country faces mounting pressures from an aging population, Reuters reported.

China Banking and Insurance Regulatory Commission (CBIRC) approved on Sept. 2 the plan for 17 bank-affiliated wealth management units, insurers and state institutions to jointly set up the state pension company with registered capital of 11.15 billion yuan ($1.73 billion), according to a statement on the regulator’s website on Wednesday.

1:59 P.M.

Cabinet did not take up proposal for telecoms relief measures

India’s cabinet did not take up proposals on Wednesday for providing financial relief to the country’s cash-strapped telecoms sector, a government source said, according to Reuters.

The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea.

1:54 P.M.

JPMorgan to buy major stake in Volkswagen’s payments unit

JPMorgan has struck a deal to buy a majority stake in German car giant Volkswagen’s payments business ahead of a planned rollout of in-car technology that allows drivers to automatically pay for fuel or tolls.

The U.S. bank has agreed to buy close to 75% of Volkswagen Payments S.A. for an undisclosed sum, subject to regulatory approvals, Reuters reported.

1:47 P.M.

Tesla sold 44,264 China-made vehicles in August

U.S. electric vehicle maker Tesla Inc in August sold 44,264 China-made vehicles, including 31,379 for export, the China Passenger Car Association (CPCA) said on Wednesday.

CPCA said passenger car sales in August in China totalled 1.5 million, down 14.7% from a year earlier, Reuters reported.

1:45 P.M.

India considering foreign institutional investment of up to 20% in LIC IPO

Indian government is considering allowing foreign institutional investment of up to 20% in Life Insurance Corporation, according to a government source, Reuters reported.

The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to 900 billion Indian rupees ($12.24 billion) from its stake sale.

1:02 P.M.

India’s economic growth will remain strong in coming quarters: S&P

India’s economic growth will remain strong in the coming quarters while inflation in Asia’s third largest economy is likely to remain at elevated levels, analysts at Standard and Poor’s said on Wednesday.

S&P said the next rating action on India will depend on the pace of recovery over the next 24-month period. S&P has a ‘BBB-‘ rating with a stable outlook on India, Reuters reported.

12:59 P.M.

First Abu Dhabi Bank hires new head of investment banking from HSBC

First Abu Dhabi Bank, the United Arab Emirates’ largest lender, has hired Martin Tricaud as head of investment banking, sources said.

Tricaud was previously chief executive officer for the Middle East, North Africa and Turkey region at HSBC, Reuters reported.

12:51 P.M.

Maruti Suzuki reports 8% dip in production in August

The country’s largest carmaker Maruti Suzuki India on Wednesday said its total production in August declined by 8% on a yearly basis to 1,13,937 units as semiconductor shortage impacted its manufacturing schedules.

The company had produced a total of 1,23,769 units in the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing, according to a PTI report.

12:44 P.M.

Sansera Engineering IPO to open on Sep 14; price band set at ₹734-744/share

Auto component maker Sansera Engineering on Wednesday said it has fixed a price band of ₹734-744 a share for its ₹1,283-crore initial share-sale.

The IPO will open for public subscription on September 14 and close on September 16. The bidding for anchor investors will open on September 13, the company said.

The initial public offering (IPO) is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors, PTI reported.

12:32 P.M.

India to give $3.5 billion in revised clean tech scheme for automakers

India will give about $3.5 billion in incentives to auto companies over a five-year period under a revised scheme to boost the manufacturing and export of clean technology vehicles, Reuters reported, citing two sources familiar with the latest proposal.

The government’s original plan was to give about $8 billion to automakers and part manufacturers but, the scheme was redrawn to focus on companies that build electric and hydrogen fuel-powered vehicles, the report noted.

A government official with direct knowledge of the matter said the initial allocation over the five-year period has been reduced but that up to $8 billion could be made available if the scheme is successful, initial funds are spent, and certain conditions are met.

12:14 P.M.

EV maker Ultraviolette Automotive to invest ₹500 crore to scale up business

Electric two-wheeler maker Ultraviolette Automotive Pvt Ltd will invest ₹500 crore in the next three to five years to scale up business, including setting up of a new manufacturing unit and product development, according to top company officials.

The company, in which TVS Motor Company is an investor, is setting up its manufacturing and assembling facility near Electronics City, Bengaluru, from where it will start producing its high-performance electric motorcycle – the F77 in the first quarter of 2022, a PTI report noted.

In the first year, the company said it will produce 15,000 electric motorcycles and will scale up to an annual capacity of 1.2 lakh units.

11:59 A.M.

Bitcoin nurses losses in wake of El Salvador’s glitched rollout

Bitcoin nursed losses Wednesday after plunging amid El Salvador’s troubled rollout of the largest cryptocurrency as legal tender, according to a Bloomberg report.

The virtual coin was trading at about $45,474, having slid as much as 17% a day earlier before paring some of the losses. The downdraft also swept across tokens such as Ether and Dogecoin, the report noted.

Tuesday’s selloff is the most significant break in a rebound that had lifted Bitcoin almost 75% since late July. Overall cryptocurrency market value fell about $300 billion in the past 24 hours, according to tracker CoinGecko.

11:40 A.M.

Toshiba says detailed talks on buyouts meaningful only after option review

Toshiba Corp said detailed talks on potential take-private deals would make sense only after all strategic options are carefully reviewed, spurning calls from some shareholders to start soliciting buyout bids.

But the latest process is not meant to formally solicit buyout bids for the overall company or some of its assets, puzzling some investors who have questioned why the company has not started an official soliciting process, Reuters reported, citing sources.

11:13 A.M.

SEC threatens to sue Coinbase over crypto lending programme

The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, according to a Reuters report.

The SEC has issued Coinbase with a Wells notice, an official way it tells a company that it intends to sue the company in court, Coinbase CLO Paul Grewal, said in a blog post. He said Coinbase would delay the launch of its ‘Lend’ product until at least October as a result.

10:54 A.M.

Rupee plunges 23 paise to 73.65 against U.S. dollar in early trade

The Indian rupee plunged 23 paise to 73.65 against the U.S. dollar in opening trade on Wednesday, tracking a strong American currency and muted trend in domestic equities, a PTI report noted.

At the interbank foreign exchange, the rupee opened at 73.48 against the dollar, then fell to 73.65, registering a decline of 23 paise from the last close.

10:45 A.M.

VAHDAM India raises ₹174 crore from IIFL AMC, others

Premium tea and wellness products maker VAHDAM India has raised ₹174 crore from investors, including IIFL AMC’s private equity fund, to expand its business globally and enter new categories, PTI reported.

The series D round of funding also saw participation from existing investors, which include a consortium of Sixth Sense Ventures affiliates, the Mankind Group Family Office, Infosys Founder Kris Gopalkrishnan’s Family Office, Urmin Group and White Whale Ventures.

10:30 A.M.

OYO increases authorised share capital to ₹901 crore

Oravel Stays Pvt Ltd, that operates hospitality firm OYO, has approved an increase in the authorised share capital of the company from ₹1.17 crore to ₹901 crore, according to a regulatory filing by the hospitality firm.

The development comes ahead of proposed initial public offering (IPO) by OYO, for which a draft red herring prospectus is likely to be filed in the next few months, PTI reported, citing sources familiar with the matter.

10:22 A.M.

Apple to hold event on Sept 14, new iPhones expected

Apple Inc said on Tuesday it would hold a special event on Sept. 14, which most industry watchers believe will be used to unveil a new line of its flagship iPhones.

10:11 A.M.

Intel to invest up to 80 billion euros in boosting EU chip capacity: CEO

Intel on Tuesday said it could invest as much as 80 billion euros in Europe over the next decade to boost the region’s chip capacity and will open up its semiconductor plant in Ireland for automakers.

Intel CEO Pat Gelsinger, speaking at Munich’s IAA auto show, also said the company would announce the locations of two major new European chip fabrication plants by the end of the year.

10:01 A.M.

Crypto not currency; needs to be regulated as asset: ex-RBI DG Gandhi

Former RBI Deputy Governor R. Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies.

After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency— that it should be a legal tender— is missing in this case.

9:46 A.M.

RBI enhances scope of tokenisation to ensure security of card data

In a bid to ensure security of card data, the Reserve Bank of India (RBI) has enhanced the scope of tokenisation and permitted card issuers to act as token service providers, PTI reported.

The RBI extended the device-based tokenisation to card-on-file tokenisation services, a move that will bar the merchants from storing actual card data, the report noted.

It said the decision will reinforce the safety and security of card data while continuing the convenience in card transactions.

9:32 A.M.

Govt. mulls allowing SEZ occupants to sell locally

The government is considering a proposal to allow producers in Special Economic Zones (SEZs) to sell their output to the domestic market without treating them as imports. It is also reviewing the exclusion of export-oriented units and SEZs from the recently notified tax refund scheme for exports.

9:19 A.M.

Indian benchmark indices open on flat note

Indian indices opened on a flat note on Wednesday amid tepid cues from global markets. BSE Sensex opened at 58,350.56, up 71.08 points, while Nifty opened at 17,375.75, up 13.65 points.

On Tuesday, the 30-share BSE Sensex settled 17.43 points or 0.03% lower at 58,279.48, while the broader NSE Nifty fell 15.70 points or 0.09% to 17,362.10.

9:09 A.M.

Oil climbs amid slow supply return after Hurricane Ida

Oil prices rose on Wednesday, paring overnight losses, with producers in the U.S. Gulf of Mexico struggling to restart operations nine days after Hurricane Ida swept through, a Reuters report noted.

Brent crude futures inched up 0.2%, to $71.83 a barrel, while U.S. West Texas Intermediate crude futures rose 0.4%, to $68.62 a barrel.

9:00 A.M.

Asian shares on edge in choppy trading

Asian shares hovered just off six-week highs on Wednesday, as a more risk-averse mood spread into the market from the United States overnight due to worries about slowing growth that hurt equities, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.13% having posted gains, if sometimes small, for 11 of the last 12 sessions.

Japan’s Nikkei reversed early losses and was last 0.82% higher, Australia slipped 0.32%, Chinese blue chips fell 0.04%, and the Hong Kong benchmark gained 0.12%.

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