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Anarock has compiled the land transactions, which include both outright purchases by developers and also joint development agreements (JDAs). At least 68 separate land deals, accounting for 1,656 acres, were closed in the first nine months of 2022 across top eight cities, as against just 20 land deals for 925 acres in the corresponding period of last year, it said.

According to property consultant Anarock, real estate developers are aggressively looking to expand their business with revival in demand, resulting in a sharp rise in the number of land deals which jumped over three-fold to 68 across eight major cities during January-September this year.&nbsp;

&nbsp;"In terms of land area transacted, Hyderabad has seen the biggest land transactions so far this year," said Santhosh Kumar, Vice Chairman of Anarock Group.&nbsp;"In terms of total number of land deals, MMR (Mumbai Metropolitan Region) clocked the highest number of deals; while the total area transacted was unspectacular, one must also consider the steep prices in this land-starved city," he added.

Land, the most precious finite resource amid rapid urbanisation, has been seeing increased action after the COVID-19 pandemic, Anarock noted.

Out of the 68 deals in January-September period of 2022, as many as nine were either JDAs or on revenue sharing basis. The remaining deals were outright purchase.

For development of data centres, four land deals were struck for 118.8 acres.

Five deals for 115 acres of land were struck for mixed-use projects and another four transactions involving 25.73 acres for commercial projects.

Eleven land deals, comprising 658.94 acres, were for development of retail and other real estate assets. 
With some of the larger deals, there is still ambiguity about the type of development that will take place there, the consultant said.

To encash the surge in housing demand compared to 2020 and 2021, all major real estate firms like Macrotech Developers, Godrej Proerties and Prestige Estates are buying land parcels outright and also entering into partnership with landlords.

Ahmedabad saw three land deals comprising 9.6 acres during the first nine months of this calendar year.

Housing demand has revived strongly after the slowdown in the last two years because of the COVID-19 pandemic. So builders, especially large ones, are looking to launch more projects.

As per the Anarock data, housing sales across seven major cities increased to 2,72,709 units during January-September this year from 1,45,651 units in the corresponding period of the previous year.

Among cities, the Delhi-NCR property market saw 16 land deals comprising 233.83 acres during January-September this year.

This included nine deals for a total of 197 acres in Gurugram, and seven in Delhi, Faridabad, and Noida.

The Mumbai Metropolitan Region witnessed 17 deals accounting for 198.62 acres.

Number of land deals in Bengaluru stood at nine, comprising 223.2 acres.

Of the total land deals during January-September of this year, there were 40 deals comprising 590.54 acres for development of residential projects, while four land deals were for industrial and logistics parks covering 147 acres.

In Hyderabad, there were only seven land deals but the total area was high at 769.25 acres.

Pune witnessed eight land deals totalling 123.7 acres, while Chennai saw seven deals totalling 92.21 acres. 
Number of land deals in Kolkata stood at only one at 5.6 acres.

The January-September figure of this calendar year is higher than the 2,61,358 units sold during the entire 2019 calendar year.

(With PTI inputs)

Anarock has compiled the land transactions, which include both outright purchases by developers and also joint development agreements (JDAs).


Sharp rise in land deals! Big 3-fold jump to 68 in Jan-Sep in 8 cities - Check what Anarock report reveals

Nepal Elections 2022 Results, Counting LIVE UPDATES, Latest News, Updates:&nbsp;In the 275-member House of Representatives, 165 will be elected through direct voting, while the remaining 110 will be elected through a proportional electoral system. Elections to the House of Representatives (HoR) and seven provincial assemblies were held on Sunday. The counting of votes started on Monday. Prime Minister Sher Bahadur Deuba's Nepali Congress-led ruling coalition was on Friday heading towards winning a clear majority in Nepal's parliamentary elections with the alliance bagging 64 seats out of the 118 declared.&nbsp; A party or a coalition needs 138 seats to win a clear majority. The Nepali Congress was set to emerge as the single-largest party after winning 39 seats alone under the direct voting system. Its alliance partners -- CPN-Maoist Centre and CPN-Unified Socialist have won 12, 10 seats. The CPN-UML has won 29 seats. The CPN-UML partners - the Rastriya Prajatantra Party and Janata Samajwadi Party - have won four and two seats respectively. The newly-formed Rastriya Swatantra Party has won 7 seats. The Lokatantrik Samajwadi and Rastriya Janamorcha have bagged two and one seat respectively. They all are part of the ruling alliance. The Opposition alliance led by former premier K P Sharma Oli-led CPN-UML has bagged 35 seats. Lokatantrai Samajwadi Party and Janmat Party, both Madhesi parties --have won two and one seat respectively. Nagarik Unmukti Party has bagged two seats and Janamorcha and Nepal Majdoor Kisan Party have received one each. Five seats were won by independents and others.&nbsp;​Here are all&nbsp;Nepal Elections 2022 Results, Counting LIVE UPDATES, Latest News, Updates:-

Nepal Elections 2022 Results, Counting LIVE UPDATES, Latest News, Updates:&nbsp;In the 275-member House of Representatives, 165 will be elected through direct voting, while the remaining 110 will be elected through a proportional electoral system. Elections to the House of Representatives (HoR) and seven provincial assemblies were held on Sunday. The counting of votes started on Monday. Prime Minister Sher Bahadur Deuba's Nepali Congress-led ruling coalition was on Friday heading towards winning a clear majority in Nepal's parliamentary elections with the alliance bagging 64 seats out of the 118 declared.&nbsp; A party or a coalition needs 138 seats to win a clear majority. The Nepali Congress was set to emerge as the single-largest party after winning 39 seats alone under the direct voting system. Its alliance partners -- CPN-Maoist Centre and CPN-Unified Socialist have won 12, 10 seats. The CPN-UML has won 29 seats. The CPN-UML partners - the Rastriya Prajatantra Party and Janata Samajwadi Party - have won four and two seats respectively. The newly-formed Rastriya Swatantra Party has won 7 seats. The Lokatantrik Samajwadi and Rastriya Janamorcha have bagged two and one seat respectively. They all are part of the ruling alliance. The Opposition alliance led by former premier K P Sharma Oli-led CPN-UML has bagged 35 seats. Lokatantrai Samajwadi Party and Janmat Party, both Madhesi parties --have won two and one seat respectively. Nagarik Unmukti Party has bagged two seats and Janamorcha and Nepal Majdoor Kisan Party have received one each. Five seats were won by independents and others.&nbsp;Here are all&nbsp;Nepal Elections 2022 Results, Counting LIVE UPDATES, Latest News, Updates:-


Nepal Election Result 2022 LIVE UPDATES: Check latest seats news, winners, party wise details - Clear majority to this coalition?

Ind vs NZ 2nd T20 Match Highlights:&nbsp;Riding on Suryakumar Yadav's blistering hundred and the bowlers' impressive showing, India defeated New Zealand by 65 runs in the second T20 International to take a 1-0 lead in the three-match series here on Sunday.The in-form Suryakumar fired yet again with a scintillating hundred as India posted 191 for six.&nbsp;In reply, New Zealand were all out for 126 in 18.5 overs, with Deepak Hooda taking 4/10 in 2.5 overs. Sent in to bat first, India lost Rishabh Pant (6) early while Ishan Kishan faced 31 balls for his 36 runs at the Bay Oval.&nbsp;Coming off an excellent T20 World Cup campaign, Suryakumar continued in the same vein and smashed his way to an unbeaten 111 off only 51 balls. He hit 11 fours and seven sixes. The returning Shreyas Iyer failed to make an impact, getting out for a nine-ball 13. Tim Southee picked up a hat-trick when he took three wickets on the trot in the innings' last over to finish with figures of 3/34. The first match of the series was a washout.

Brief Scores:

India: 191/6 in 20 overs (Suryakumar Yadav 111 not out; Tim Southee 3/34).

New Zealand: 126 all out in 18.5 overs (Kane Williamson 61; Deepak Hooda 4/10).

Ind vs NZ 2nd T20 Match Highlights:&nbsp;Riding on Suryakumar Yadav's blistering hundred and the bowlers' impressive showing, India defeated New Zealand by 65 runs in the second T20 International to take a 1-0 lead in the three-match series here on Sunday.The in-form Suryakumar fired yet again with a scintillating hundred as India posted 191 for six. In reply, New Zealand were all out for 126 in 18.5 overs, with Deepak Hooda taking 4/10 in 2.5 overs. Sent in to bat first, India lost Rishabh Pant (6) early while Ishan Kishan faced 31 balls for his 36 runs at the Bay Oval.&nbsp;Coming off an excellent T20 World Cup campaign, Suryakumar continued in the same vein and smashed his way to an unbeaten 111 off only 51 balls. He hit 11 fours and seven sixes. The returning Shreyas Iyer failed to make an impact, getting out for a nine-ball 13. Tim Southee picked up a hat-trick when he took three wickets on the trot in the innings' last over to finish with figures of 3/34. The first match of the series was a washout.

Brief Scores:

India: 191/6 in 20 overs (Suryakumar Yadav 111 not out; Tim Southee 3/34).

New Zealand: 126 all out in 18.5 overs (Kane Williamson 61; Deepak Hooda 4/10).


Ind vs NZ 2nd T20 Match Highlights: Riding on sensational Suryakumar Yadav's blistering hundred, India defeats New Zealand by 65 runs

Delhi MCD Election 2022 Result Date: The 250-ward Municipal Corporation of Delhi (MCD) goes to polls on December 4 and counting of votes will take place on December 7.

A total of 2,021 candidates have filed their nomination papers with the poll authorities for the upcoming civic elections in Delhi.

Of the total nominations, Independent candidates have the maximum share with 507 candidates, followed by AAP with 492 candidates.

On Monday, the last day to file nominations, all candidates from the three major parties -- the AAP, BJP and the Congress -- and nominees from other parties and many Independents submitted their papers.

The poll authorities have received 2,585 nominations from 2,021 candidates.

Of the total nominations received, 1,462 are from women and 1,123 men, according to data shared by officials.

Among the other parties, 423 candidates have filed their papers for the BJP, 334 from the Congress, 149 from the Bahujan Samaj Party, 31 from JD(U), 20 from AIMIM, and nine from the CPI(M).

This will be the first civic election after the fresh delimitation exercise. The high-stakes poll will be held in the gap between the two phases of the Gujarat Assembly elections, scheduled for December 1 and 5.

The nomination process went smoothly with elaborate arrangements in place at all ROs headquarters, officials had said on Monday.

In the civic body polls in 2017, the BJP had won 181 of the 270 wards. No polling could be held on two seats due to the death of candidates. The AAP had won 48 wards, while the Congress managed to win 27.

&nbsp;

&nbsp;

Delhi MCD Election 2022 Result Date: Check details.


Delhi MCD Election 2022 Results: Check Counting Date - BJP vs AAP vs Congress - Who Will Win?

Congress Gujarat Candidates List 2022: The Congress on Wednesday announced its final list of 37 candidates for the Gujarat Assembly elections. With the declaration of the seventh list, the Congress has announced 179 candidates for the polls to the 182-member Gujarat Assembly.

The Congress has an alliance with the Nationalist Congress Party (NCP) for the assembly polls and the Sharad Pawar-led party is set to contest on three seats.

The seventh list of 37 candidates included Mahendrasinh Vaghela from Bayad, Ramesh Koli from Sanand, Chirag Patel from Khambhat, Harshadbhai Ninama from Dahod (ST) and Mahesh Patel from Palanpur.

Mahendrasinh Vaghela joined the Congress last month. The 58-year-old former MLA was a Congress legislator from Bayad in north Gujarat between 2012 and 2017. He had quit the party in August 2017, a few months before the Assembly elections, and later joined the BJP.

Congress Gujarat Candidates List 2022: 1st List

-The Congress on November 4 had released its first list announcing the names of 43 candidates for the elections.

-On November 10, the party came out with another list of 46 names.&nbsp;

-It released a list of seven candidates last Friday but one was a replacement for the earlier announced candidate.&nbsp;

-The fourth list of nine candidates was released on Saturday.

-The party first released its fifth list on Sunday with five candidates and one replacement -- Manhar Patel from Botad in place of Ramesh Mer.&nbsp;

-Later that evening, it released a list of 33 candidates.

Gujarat Election Result Date 2022

The assembly elections will be held in two phases on December 1 and 5. The counting of votes will be taken up on December 8.

&nbsp;

Congress Gujarat Candidates List 2022:&nbsp;The seventh list of 37 candidates included Mahendrasinh Vaghela from Bayad, Ramesh Koli from Sanand, Chirag Patel from Khambhat, Harshadbhai Ninama from Dahod (ST) and Mahesh Patel from Palanpur.


Congress Gujarat Candidates List 2022 For Assembly Elections: Final - Check Names

Keystone Realtors IPO Subscription Status Today: The IPO of Keystone Realtors, which sells properties under the brand 'Rustomjee', received 2 times subscription on the last day of offer on Wednesday. The company's Initial Public Offering (IPO) got bids for 1,73,72,367 shares against 86,47,858 shares on offer, according to an update on the NSE.&nbsp;

QIB

The category for Qualified Institutional Buyers (QIBs) received 3.84 times subscription, non-institutional investors portion was subscribed 3.03 times, while the quota for Retail Individual Investors (RIIs) got 53 per cent subscription.

Keystone Realtors IPO

-The IPO had a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore.

-Price range for the IPO was at Rs 514-541 a share.

-On Friday, Keystone Realtors said it has collected a little over Rs 190 crore from anchor investors.

-The company intends to utilise the net proceeds towards funding the repayment/prepayment of borrowings to the tune of Rs 341.6 crore as well as towards funding the acquisition of future real estate projects and general corporate purposes.

-Axis Capital and Credit Suisse Securities (India) were the managers to the offer.

Keystone Realtors

-Founded in 1995, Keystone Realtors has 32 completed projects, and has 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR) that includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under Rustomjee brand.

-The realty firm has developed 20.05 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects as of March 2022.

Keystone Realtors IPO Subscription Status Today: Check Final Day Figures

Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta has confirmed that over 6.85 crore income tax returns have been filed so far for fiscal 2021-22. Moreover, the CBDT chairman said that the number is expected to go up further by December 31.

ITR FILING LAST DATE

The last date for filing income tax returns (ITRs) for 2021-22 fiscal for individuals was July 31, while for corporates and others who need to get their accounts audited was November 7, 2022.

ITR FILING: Penalty

If the deadline is missed, taxpayers can also file a belated return by paying penalty, the last date for which is December 31.

"So far, 6.85 crore tax returns for Assessment Year 2022-23 have been filed and we are hopeful that the number will increase till December 31," CBDT Chairman Nitin Gupta said, a PTI report said.

In the last fiscal (2021-22), which ended on March 31, 2022, 7.14 crore tax returns were filed.&nbsp;

This was higher compared to 6.97 crore filed in 2020-21.

Income Tax: Refunds, gross direct tax kitty, net direct tax collection and more

-So far this fiscal, refund worth around Rs 2 lakh crore has been disbursed.

-Till November 10, the government's gross direct tax kitty grew 31 per cent to Rs 10.54 lakh crore.

- Net collections, after adjusting refunds, stood at Rs 8.71 lakh crore, which is 61.31 per cent of the Budget estimates (BE) for the full year tax collection target.

- The net direct tax collection this fiscal ending March 31, 2023 is likely to exceed budget estimates of Rs 14.20 lakh crore by 25-30 per cent.

&nbsp;

In the last fiscal (2021-22), which ended on March 31, 2022, 7.14 crore tax returns were filed.&nbsp;


Income Tax: 6.85 crore ITRs filed so far; number expected to go up further, says CBDT Chairman Nitin Gupta

In a major development, the Central Bureau of Investigation (CBI) has booked Rotomac Global and its directors for Rs 750 crore alleged fraud in Indian Overseas Bank. The development was confirmed by news agency PTI.

The company allegedly cheated the bank and fraudulently siphoned off funds, causing financial loss and wrongful gain to itself to the tune of Rs 750.54 crore, which is still to be recovered from the suspects. The company, which was in the business of writing instruments, has a total outstanding of Rs 2,919 crore against a consortium of seven banks led by Bank of India in which Indian Overseas Bank has an exposure of 23 per cent.

Sadhna Kothari and Rahul Kothari booked

-The agency has booked the company and its Directors - Sadhna Kothari and Rahul Kothari - under IPC sections related to criminal conspiracy (120-B) and cheating (420), besides various provisions of the Prevention of Corruption Act.

-The company is already facing multiple investigations by the CBI and the Enforcement Directorate on the basis of complaints from consortium members.

FIR details

-In its complaint to the CBI, now a part of the FIR, the Indian Overseas Bank alleged that the company was sanctioned a non-fund-based limit of Rs 500 crore on June 28, 2012.

-The account was declared a non-performing asset on June 30, 2016, with an outstanding of Rs 750.54 crore after default on payments.

-The bank alleged it had issued 11 Letters of Credit (LC) to meet the company's foreign trade requirements, which all got devolved involving an aggregate amount of Rs 743.63 crore, leaving no security for the bank.

-The company did not produce the complete set of documents for the trade carried out by it, and all the LCs were issued favouring two parties -Fareast Distributors and Logistic P Ltd and RBA Venture Ltd.

-The bank alleged that in the absence of documents, doubts are raised on the authenticity of the trade vessel and voyages claimed in the bills of lading.

Forensic Audit

-The forensic audit conducted by the bank pointed to alleged manipulation in account books and non-disclosure of liabilities arising from LCs.

-The audit also found irregularities in sale contracts, bills of lading and corresponding voyages.

-It pointed out that 92 per cent of total sales, to the tune of Rs 26,143 crore, were made to four parties of the same owner and group.

(With PTI inputs)

In a major development, the Central Bureau of Investigation (CBI) has booked Rotomac Global and its directors for Rs 750 crore alleged fraud in Indian Overseas Bank. The development was confirmed by news agency PTI.


CBI books Rotomac Global, its directors for Rs 750 crore alleged fraud in Indian Overseas Bank

A Digital Payment Transaction Trends Insights Report has come up with eye-opening data on how travel and OTT expenditure witnessed surge during festive season. According to PayU's Insights Report – Festive edition, comparing digital payment transaction trends on the PayU platform between the festive seasons of 2021 and 2022. As per the Digital Payment Transaction Trends Insights, 2022 saw a 64% increase in expenditure &amp; 31% increase in the number of transactions vis-à-vis festive sale period in 2021.&nbsp;

Moreover, the report also mapped the overall pandemic impact on Indians’ adoption of digital payments for the festive period. There has been a 245% increase in expenditure &amp; 130% increase in the number of transactions between the ‘normal’ period of 2019 &amp; post-pandemic period of 2022.

PayU Insights Report: PayU Insights Report: Travel expenditure grows 165%; OTT expenditure grows 80% during festive season: PayU Insights Report

-Close to 7mn transactions processed in one day as major brands announce sales on same day

-Credit Repayment via UPI mode sees 251% growth in expenditure and 172% growth in transactions

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<h2>Key insights for 2022 vis-a-vis 2021</h2>

&nbsp;

<h2>India’s strong credit preference</h2>

&nbsp;

-Credit cards were the most preferred mode of payment this season. Interestingly, credit card users spent about 5 times more than debit card users in 2022 (total expenditure), in spite of the fact that there is 1 credit card for every 12 debit cards.&nbsp;

-On an average, a credit card user spent Rs. 6000 as opposed to a debit card user who spent Rs. 2500, in 2022. Year on year, credit card transactions and expenditures grew 42% and 84%, respectively.&nbsp;

-One reason could be banks offering cashback, reward points, discounts, deals &amp; add-on services on cobranded cards &amp; standalone cards.

The appetite for credit is also reflected in the fact that credit repayment (i.e. personal loans for consumers &amp; businesses) saw a 107% increase in expenditure &amp; 105% increase in transactions over the last festive season. One of the highest categories for UPI spending was Credit Repayment, showing that Indians are increasingly repaying personal loans using UPI. Not surprisingly, debit card transactions declined by 34 %.

[[{"fid":"210934","view_mode":"default","type":"media","link_text":null,"attributes":{"alt":"PayU&#039;s Insights Report – Festive edition","title":"PayU&#039;s Insights Report – Festive edition","height":313,"width":540,"class":"media-element file-default"}}]]

<h2>Revenge tourism is the rage</h2>

&nbsp;

-Whether motivated by revenge tourism or the extended Diwali weekend Indians’ expenditure in the travel and hospitality sector showed a 165% increase this festive season.

- Not only are Indians traveling extensively, but they are using all modes of travel.&nbsp;

- Cabs showed a 121% increase in expenditure, while train bookings witnessed a 50% increase in expenditure &amp; 33% increase in average ticket size. Airlines saw a 95% increase in average ticket size.&nbsp;

-Holiday packages saw a 70% increase in expenditure &amp; 341% increase in average ticket size.

UPI driving digital payments adoption for daily use-cases

-There was a 133% rise in the number of transactions and a 124% growth in expenditure compared to 2021, probably echoing economic recovery, increased UPI adoption by small businesses &amp; consumers.&nbsp;

-Interestingly, the average ticket size for UPI transactions has gone down marginally (-4%). Consumers used UPI for small ticket items such as groceries, within city travel &amp; entertainment, which could be the reason ticket size declined.&nbsp;

-The top 5 cities contributing to the highest number of transactions through UPI are Mumbai, Bangalore, Hyderabad, Chennai and Delhi NCR.

Digitization and economic expansion led to the growth of financial services

-In the Banking and Insurance sector, transactions &amp; expenditures increased by 100% and 143% respectively.&nbsp;

-This general sentiment is reflected across BFSI categories; total expenditure made in the insurance space grew by 41% perhaps driven by economic expansion, regulatory moves and increasing insurance penetration.&nbsp;

-Investments saw a 66% growth in expenditure &amp; 50% growth in average ticket size – one possible reason could be the increased adoption of do-it-yourself wealth management platforms – especially among millennials &amp; post-pandemic behavioral changes.

[[{"fid":"210941","view_mode":"default","type":"media","link_text":null,"attributes":{"height":832,"width":578,"class":"media-element file-default"}}]]

<h2>OTT &amp; gaming leading digital entertainment adoption</h2>

-The entertainment industry witnessed an increase in both expenditure and transactions of 52% and 54%.

- OTT expenditure has grown by 80% &amp; transactions by 175%; gaming expenditure shot up by 20%.&nbsp;

-However, expenses related to watching movies physically and attending on-ground events witnessed a decline in expenditure and transactions of 11% and 43% respectively – perhaps habits set during the pandemic (OTT preference &amp; avoiding public spaces) continue post-pandemic.

<h2>&nbsp;</h2>

<h2>Education</h2>

&nbsp;

-Education as a category saw a 20% growth in expenditure &amp; 24% growth in average ticket size.&nbsp;

-There is a 14% growth in university-related expenditure but a 40% dip in expenditure on upskilling. More Indians are paying for education using UPI.&nbsp;

-UPI transactions for education increased 29% while expenditure through UPI on education increased 47%.&nbsp;

<h2>&nbsp;</h2>

<h2>Region-wise expenditure</h2>

&nbsp;

-Patna, Indore, Ernakulam, Nagpur &amp; Ludhiana are new entrants to the list of the top 20 cities by expenditure, in 2022.&nbsp;

- Maharashtra, Karnataka &amp; Tamil Nadu continue to be top festive spenders.

Commenting on the PayU Insights Report – Festive Edition, Paulami Das, Director, PayU Payments said “PayU is a pioneer in driving value addition for merchants and banks through data insights, offering targeted solutions which allow them to deepen customer engagement &amp; create actionable business strategies. Based on these insights, we are able to determine economic &amp; industry specific trends and whether these reflect broader market movements. We see that behaviors formed during the pandemic persist into the new normal with the preference for travel, digital entertainment &amp; UPI continuing to increase significantly this festive season.”

Credit cards were the most preferred mode of payment this season. Interestingly, credit card users spent about 5 times more than debit card users in 2022 (total expenditure), in spite of the fact that there is 1 credit card for every 12 debit cards.&nbsp;


Digital Payment Transaction Trends Insights: How India spent money on travel, OTT, gaming, etc. during festive season

Massive employment opportunity for 60,000:&nbsp;Biggest Apple iPhone manufacturing unit in India is all set to come up at Hosur in Tamil Nadu.

Telecom and IT Minister Ashwini Vaishnaw said on Tuesday that the biggest unit to manufacture Apple iPhone in India is coming up in Hosur near Bengaluru, which will employ around 60,000 people.

While speaking at the Janjatiya Gaurav Divas ceremony, Vaishnaw said that six thousand tribal women residing near Ranchi and Hazaribagh have been trained for making iPhones, as per a PTI report.

"Apple's iPhone is now getting made in India and it's the biggest plant in India is being set up at Hosur near Bengaluru. 60,000 people work in a single factory. The first 6,000 employees of these 60,000 employees are our tribal sisters from places nearby Ranchi and Hazaribagh. Tribal sisters have been trained to make Apple iPhone," the minister said, as per PTI.

Apple has outsourced the manufacturing of iPhone enclosures to Tata Electronics, which has a plant at Hosur.

The company gets iPhones manufactured by electronics giants - Foxconn, Wistron and Pegatron in India.

&nbsp;

Apple has outsourced the manufacturing of iPhone enclosures to Tata Electronics, which has a plant at Hosur.


Apple to establish India's biggest iPhone manufacturing unit in Hosur, to add 60,000 jobs

Budget 2023 Expectations LTCG, STCG: The Budget for 2023-24 fiscal would be presented in Parliament on February 1, 2023.&nbsp; Amongst different expectations from Budget for 2023-24 fiscal it has been reported that the Budget may tweak capital gains taxes levied on equity, debt and immovable property to bring parity in varied tax rates and holding period.

Explaining the rationale, as per a PTI report, the official said there needs to have an alignment in tax rate and holding period for all the asset class. Changes in capital gain tax expected in Budget, the official said. When asked about possible tinkering in capital gains tax, Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said: "It's part of budget process, can't divulge."

The official said the current capital gains tax structure is 'complicated' and hence needs a relook. "We are looking at the suggestions that have come in from stakeholders," the official added, as per the PTI report.

<h2>Capital gains tax</h2>

&nbsp;

-Under the Income Tax Act, gains from sale of capital assets -- both movable and immovable -- are subject to 'capital gains tax'.

-The Act, however, excludes movable personal assets such as cars, apparels and furniture from this tax.

-Depending upon the period of holding an asset, the long-term or short-term capital gains tax is levied.

-The Act provides for separate rates of taxes for both categories of gains. The method of computation also differs for both the categories.

-Currently, long term capital gains on shares is taxable at 10 per cent when the holding period exceeds 1 year.

-For debt and immovable property, the tax rate is 20 per cent, while the holding period is 3 years and 2 years respectively.

&nbsp;

Budget 2023 Expectations LTCG, STCG:&nbsp;Under the Income Tax Act, gains from sale of capital assets -- both movable and immovable -- are subject to 'capital gains tax'.


Budget 2023 Expectations: Capital gains tax regime to be tweaked? What we know so far on LTCG, STCG

Edtech brand PrepInsta, a website for placement preparation, says it has displayed a skyrocketing placements record of over 18857 students in October 2022.&nbsp;

Over 475 companies have hired PrepInsta Prime students, with the highest package reaching Rs 47 Lakhs Per Annum, an official statement said.&nbsp;

"In addition to the records which PrepInsta has made in placements, this month has also brought milestone packages with an average package of Rs 7.2 LPA," the statement added.

"The announcement follows after PrepInsta’s placement offers for September 2022 witnessed a significant increase of 70% and over 5873 PrepInsta students were successfully hired by companies such as TCS, SAP, Wipro, Cognizant and CapeGemini. For the October placements TCS has distributed approximately 70% of offer letters to PrepInsta students. Other service-based companies, such as Infosys, Cognizant, Accenture, and others, have distributed offer letters for their on-campus recruitment drives and are expected to begin their off-campus drives very soon," as per the official statement.&nbsp;

“Broadly speaking, the placement season was very successful, and we set the highest records so far on almost all parameters,” said Manish Agarwal, Co-Founder and CMO of PrepInsta.&nbsp;

He adds, “This is the outcome of our emphasis on developing deep industry connections and thereby assisting our students in acquiring skills that are in sync with industry requirements. I’d also like to congratulate and thank the entire PrepInsta team for ensuring that students cover all of the requirements for developing a roadmap to find their dream job where they can further polish their skills and prepare for a promising future.”

For the October placements, TCS has distributed approximately 70% of offer letters to PrepInsta students, an official statement said.


FAT SALARY! This placement preparation website witnesses highest salary package Rs 47 lakhs/annum!

ICICI Pru Sukh Samruddhi Life Insurance Plan: Are you planning to buy any life insurance plan? If the answer is yes, then there is a news for you as ICICI Prudential Life Insurance has launched a new participating savings product, ‘ICICI Pru Sukh Samruddhi'.&nbsp;

ICICI Pru Sukh Samruddhi

- This new participating savings product provides customers with dual benefits of guaranteed benefits and growth potential in the form of bonuses.&nbsp;

-Besides, the life cover continues for the entire duration of the policy, including the income period, providing financial security to the family, as per a company statement.&nbsp;

- This product also provides a higher maturity benefit to women customers to encourage them to embark on their saving journey and achieve financial independence.&nbsp;

- To address the varied financial needs of customers, this long-term saving product has been made available in two variants – Income and Lump sum.

ICICI Pru Sukh Samruddhi – Income

-As per official statement, it provides an excellent route to create a supplementary source of tax-free guaranteed income to meet financial goals, such as child’s education, annual vacations, or any other interim income requirement.&nbsp;

-This option provides customers with a guaranteed regular income for the specified time-period selected at the time of purchase.&nbsp;

-Additionally, customers also receive a lump sum maturity benefit.

Savings Wallet

- The innovative feature of ‘Savings Wallet’ allows customers to accumulate and grow the income, instead of taking it as payment.&nbsp;

- This accumulated corpus can be withdrawn from the ‘Savings Wallet’ in part or in full at any time during the policy term. This feature can enable customers to meet their changing financial needs as per their lifestage.

- Furthermore, the unique ‘Save the Date’ feature enables customers to start receiving income on a date of their choice.&nbsp;

- Customers can choose to receive income on special dates such as marriage anniversary, spouse’s birthday, etc., thereby making them memorable.

ICICI Pru Sukh Samruddhi – Lump sum:&nbsp;

-This variant is ideal for customers looking to build a corpus over the long term and utilise the lump sum maturity amount to achieve big-ticket financial goals such as purchasing a house, financing children’s higher education, or legacy planning, to name a few.

Commenting on the launch of new insurance plan, Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, “We believe that achieving financial goals such as child’s education or buying a house, requires astute planning. ICICI Pru Sukh Samruddhi has been specifically designed to enable the fruition of the customers’ financial goals. The last couple of years has been very challenging for individuals resulting in customers' preference to opt for savings products which enable the fruition of financial goals with guaranteed benefits. Early visibility of the maturity corpus equips customers to plan their lives better. ICICI Pru Sukh Samruddhi not only offers customers a guaranteed maturity benefit, the annual bonuses (as and when declared) can go a long way in further beefing up their accumulated corpus. This multipurpose savings product with features such as ‘Savings Wallet’ and ‘Save the Date’ enables customers to celebrate the milestones in their lives while aiding them to remain financially secure (through life cover) amidst changing needs and lifestages."

"We recognise that customers depend on us to achieve their long-term financial goals and we have declared bonuses consecutively for the last 16 years for our participating policyholders. Strong fund management capabilities, coupled with robust risk management practices, have enabled us to consistently reward our participating policyholders with higher bonus than what was communicated at the time of purchase. This is a testament to our endeavour to deliver on the promises made to our policyholders," he added.

Life Insurance Plan:&nbsp;This new participating savings product provides customers with dual benefits of guaranteed benefits and growth potential in the form of bonuses.&nbsp;


New Life Insurance Scheme: Tax-Free Guaranteed Income Plan, Lump Sum Maturity Corpus, Savings Wallet and Other Money Benefits

Fusion Micro Finance Share Price on BSE, NSE: Shares of Fusion Micro Finance on Tuesday made a weak market debut and ended over 12 per cent lower against the issue price of Rs 368.

<h2>Fusion Micro Finance Share Price on BSE</h2>

The stock made its debut at Rs 360.50, a discount of 2 per cent on the BSE. During the day, it declined 12.66 per cent to Rs 321.40. The stock later settled at Rs 324.90 apiece, lower by 11.71 per cent.

<h2>Fusion Micro Finance Share Price on NSE</h2>

On the NSE, it tanked 12.11 per cent to finish at Rs 323.40 apiece after beginning the trade at Rs 359.50, lower by 2.30 per cent from the issue price.

<h2>Fusion Micro Finance: M-Cap</h2>

Its market valuation stood at Rs 3,269.49 crore on the BSE.

In volume terms, 7.49 lakh shares were traded on the BSE and over 1.67 crore shares on the NSE during the day.

<h2>Fusion Micro Finance IPO</h2>

The Initial Public Offering (IPO) of Fusion Micro Finance was subscribed 2.95 times earlier this month.

The Rs 1,104-crore IPO had a price range of Rs 350-368 a share.

Fusion Micro Finance was looking to raise Rs 1,104 crore from its IPO which comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 13,695,466 equity shares by promoters and existing shareholders.

Those selling shares in the OFS are -- Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society U.A and Global Financial Inclusion Fund.

Net proceeds from the fresh issue will be used to augment the capital base of the microfinance firm. The company has set a price band of Rs 350-368 a share.

Fusion Micro Finance Shares: The stock made its debut at Rs 360.50, a discount of 2 per cent on the BSE. During the day, it declined 12.66 per cent to Rs 321.40. The stock later settled at Rs 324.90 apiece, lower by 11.71 per cent.


 Fusion Micro Finance Share Price on BSE, NSE; Stock Performance in Debut Trade - Full details

Reserve Bank on Monday imposed a collective fine of nearly Rs 12 lakh on several co-operative and other banks for violating various banking norms. Penalties amounting to Rs 11.60 lakh have been imposed on nine entities, including six co-operative banks and three Sahakari banks, RBI said in separate releases.

<h2>Here is FULL LIST of six co-operative banks, three sahakari banks facing fine by RBI:-</h2>

1

Berhampur Cooperative Urban Bank (Odisha) has been fined Rs 3.10 lakh

2 
&nbsp; 
Osmanabad Janata Sahakari Bank, Osmanabad (Maharashtra) Rs 2.5 lakh

3

Santrampur Urban Co-operative Bank Ltd, Santrampur in Mahisagar district (Gujarat) Rs 2 lakh penalty

4

Jila Sahakari Kendriya Bank Maryadit, Balaghat (Madhya Pradesh)

5

Jamshedpur Urban Cooperative Bank Ltd, Jamshedpur, Jharkhand

6

Renuka Nagarik Sahakari Bank Maryadit, Ambikapur (Chhattisgarh)

7

Krishna Mercantile Co-operative Bank Ltd, Bhopal (Madhya Pradesh)

8

Kendrapara Urban Co-operative Bank Ltd, Kendrapara, Odisha

9

The Nawanagar Co-operative Bank Ltd, Jamnagar (Gujarat)

&nbsp;

Penalties amounting to Rs 11.60 lakh have been imposed on nine entities, including six co-operative banks and three Sahakari banks, RBI said in separate releases.


Prashant V. Singh