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Over 40 cr bank accounts opened under PMJDY

IANS New Delhi Six years after the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY), there are over 40 crore beneficiaries of the scheme, according to government data. The financial inclusion programme launched in 2014 has a total of 40.05 crore accounts under it as of July 22 with total deposits of over Rs 1.30 lakh crore, according to …

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Air India pilots allege blatant discrimination by management

IANS New Delhi Alleging blatant discrimination by Air India’s Personnel and Finance Departments, the pilots have told the national carrier’s management that if such behaviour continues unchecked, the Director, Personnel will be responsible for the consequences. In a letter to Air India Chairman and Managing Director Rajiv Bansal, the pilots’ associations, the Indian Commercial Pilots Association and the Indian Pilots …

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Covid continues to dent India’s factory output in July

IANS New Delhi Subdued demand conditions on the back of Covid-19 outbreak continued to dent India’s manufacturing sector output in the month of July. Accordingly, the latest reading of seasonally adjusted IHS Markit India Manufacturing PMI index showed that firms responded by cutting both staff numbers and purchasing activity. “However, despite the ongoing negative impact of the coronavirus disease (Covid-19), …

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Sebi issues procedural guidelines for proxy advisors

IANS Mumbai The Securities and Exchange Board of India (SEBI) on Monday came up with a set of procedural guidelines for proxy advisors. Proxy advisory firms advise shareholders on corporate governance-related issues and give recommendations regarding votingon resolutions. In a circular, Sebi said that proxy advisors shall formulate the voting recommendation policies and disclose the updated voting recommendation policies to …

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Global economy may lose over $100 bn of remittances in 2020

IANS New Delhi As the world goes through an unprecedented recession amid the pandemic, global remittances may fall by $108.6 billion in 2020 if the economic impact of Covid-19 persists throughout the year, says a report by the Asian Development Bank (ADB). The report published on Monday noted that the pandemic continues to weigh heavily on economic systems and employment …

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New Flipkart benefits to support 6 lakh people under Samarth

​Bengaluru: Flipkart on Friday announced more benefits for over 6 lakh livelihoods under its Samarth programme who are artisans, weavers and craftsmen from the underserved communities in the country. Earlier, the Samarth sellers enjoyed a commission waiver of zero per cent for the first 6 months of their onboarding the platform and then, the commission varied. Now, after the completion …

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Amazon aims to hire ‘many more’ people in India

San Francisco: Amazon is planning to get more sellers on board as the company focuses on digitising a lot of micro, small and medium-sized businesses in India and hiring many more people, a top company executive has said. During an earnings call with investors on Thursday, David Fildes, Director-Investor Relations at Amazon said that the company was putting a lot …

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Erratic power supply posing a challenge to tea industry in Assam

Guwahati: Erratic power supply was posing  “serious challenge” to the tea industry in Assam’s Barak Valley which has reported crop loss to the tune of approximately 5.5 million kg during the period March to June this year, the Tea Association of India (TAI) said. The crop outlook for the tea industry at this point of the season looks bleak, in …

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ITBP inks deal with KVIC to procure ‘swadeshi’ items

New Delhi: The Indo-Tibetan Border Police (ITBP) on Friday inked a deal with the KVIC to procure a variety of ‘swadeshi’ and ‘khadi’ goods for around 10 lakh personnel of the Central Armed Police Forces. The force will procure 1,200 quintals of mustard oil from the Khadi and Village Industries Commission (KVIC) with “a total financial implication of over Rs …

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SMBs, startups to launch over 1,000 products on Amazon Prime Day

Bengaluru: Over 100 small and medium-sized businesses and start-ups on Amazon.in will be launching more than 1,000 new products across 17 categories on Prime Day in India that starts at midnight on August 6 and will run for 48 hours, the e-commerce giant said on Thursday. Startups and small businesses from Amazon’s Launchpad programme will be launching differentiated products across …

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