mehulchoksi-truecolumn Business 

Mehul Choksi released video message, says all allegations are false

The Maternal Uncle of the fraudulent diamond Jeweller Nirav Modi, Mehul Choksi recently released a video message from Antigua in which he said that all the allegation imposed on him by the Enforcement Directorate (ED) department are false. One of the accused of USD 2 million PNB money laundering case, Mehul Choksi took the citizenship of Antigua and Barbuda last year with the oath of allegiance on January 15 this year. The video released by new agency ANI clearly showed Mehul Choksi talking about the suspension of his passport after…

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electric vehicle-truecolumn Business 

Limitation of permit over for electric and alternative fuel vehicles, says Nitin Gadkari

The government has decided to end the limit imposed on the permits for electric vehicles and other alternative fuel vehicles. Union Road Transport Minister Nitin Gadkari said the vehicles running with electricity, ethanol, biodiesel, CNG, methanol and biofuel will not need any permit from now onwards. While addressing SIAM annual convention, Nitin Gadkari said that, “We have decided to exempt EVs and all vehicles including autorickshaws, buses, taxis run on alternative fuel like ethanol, biodiesel, CNG, methanol and biofuel, from permit requirements. We have taken the decision to make these…

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arunjaitley-trucolumn Business 

Rupee continues to fall, Arun Jaitley blames “Global Reasons”

Devaluation of rupee is still continued at the sixth straight day today and it closes at 71.75 on Wednesday. However, Finance Minister Arun Jaitley termed the Rupee fall due to Global reason rather than the domestic reasons. Arun Jaitley said the devaluation is due to rising crude oil prices and US Investors withdrawing hands from overseas investments in the global market. Mr Jaitley said, “There are no domestic reasons. Reasons are global. In the last few months, the dollar has strengthened against every currency”. Finance Minister has recovered from an…

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amazon1trillion-truecolumn Business International 

Apple did it in 38 years and Amazon in just 21 years

The technology giant Apple has crossed the mark of $1 billion on August 2 and following their footsteps, Amazon too has crossed the milestone mark of $1 trillion on Tuesday. Most surprisingly, Apple got there after 38 years of its establishment while Amazon blistering growth make it to achieve $1 trillion club within 21 years of its set-up. Started from a small garage in 1994, Amazon led by Jeff Bezos started its market trading from May 5, 1997 with $1.50 and it grows to $100 in 2009 and for the…

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thirdpartyinsurnace-truecolumn Business 

Your cars and bikes will cost more from tomorrow after this

Buying a two-wheeler or four-wheeler is not an easy task as it cost your pocket heavily but from tomorrow it will be more painful to buy a car or motorbike as the insurance Regulatory authority has made it mandatory to buy the long-term third party insurance. The Insurance Regulatory and Development Authority (IRDAI) has made it compulsory to have a third party insurance now followed by the order from the Supreme Court. As per the new guidelines, in case of three year third party insurance- Rs 5,286 is assigned for…

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petroldiesel - truecolumn Business 

Diesel prices hit record price of Rs 69.46 a litre, petrol reaches to Rs 78 mark

The record value fall in the Indian rupee started to show its effects on the prices of the diesel and petrol as they reaches the record high mark today. While diesel price is hiked about 14 paise per litre, petrol prices increases to about 13 paise mark. The diesel prices in Mumbai reaches to Rs 73.79 per litre while petrol prices marked the edge price of Rs 85.33 per litre. In Delhi, Petrol will cost Rs 77.91 per litre and diesel price reaches to Rs 69.51 per litre. The prices…

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reliancejio-truecolumn Business 

Reliance Jio became second largest telcos by revenue, surpass Vodafone India

Reliance Jio is moving ahead in his move to become the largest telecom company in India as recently, the company has surpassed Vodafone India by revenue market share with its rival prices and strong performance in rural mobile markets. Naveen Kulkarni, an analyst at PhillipCapital said, “That Jio would surpass Vodafone India (Independently) on RMS in the June quarter was expected, given its strong and sustained growth on this metric, but it now appears to be gradually getting within striking distance of Airtel”. According to the official data released by…

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raghuram rajan-truecolumn Business 

India will face financial crisis by toxic mix in trade, warns greatest foreseer Raghuram Rajan

Former RBI Governor Raghuram Rajan who warned for the 2005 financial crisis before it actually hit again warned of the financial crisis because of the toxic mix in trade by building up in leverages and high asset price. Talking to the Bloomberg on Thursday, Raghuram Rajan said, “We all very well aware that two things have built up, which had built up before the previous crisis, leverages and asset prices”. He further added that, “Trade is an issue for the world to be concerned about. It is extremely important that…

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rafalejet-trucolumn Business National 

Rafale jet deal: Congress party mislead Reliance Group, says Anil Ambani

Reliance Group led by the chairman Anil Ambani said in a statement to congress President Rahul Gandhi that his company is ‘misled, misinformed, misdirected’ for Rafale Jet deal by ‘malicious vested interests and corporate rivals’. Ambani further said that not even a single component worth a single rupee is to be manufactured by Reliance company and all the 36 Rafale jets India was purchased from France. Rahul Gandhi has been attacking the ruling government frequently for the negotiation of the Rafale jet deal at much higher price compared to the…

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Indian Rupee - TrueColumn Business 

Rupee continues to record fall of Rs 70.26, impacts crude oil, medicines and more

The rupee continues to fall a record mark of Rs 70.26 against US Dollar on early Thursday morning in early morning thus impacting many import products like crude oil, medicines, iron core and many others in large quantities.  The record fall in the Indian currency is mainly affected by the Turkish Lira which helps the US Dollar to gain by 6 against lira after US ruled out removing steel tariffs on Turkey. The shift in the value of Rupees will not only effect the capabilities of the country but also…

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