_1611273570700_1611273608707.JPG "Each of the four startups will get <span class='webrupee'>₹</span>5 lakh as marketing assistance over a period of one year to launch Minimum Viable Product in the market, an official release said.(Hemant Mishra/Mint Archive)")
UP govt gives ₹5 lakh marketing assistance to four startups under new policy
In a boost to 'Start In UP' programme under the new UP Startup Policy-2020, the Policy Implementation Unit (PIU) approved marketing assistance to four startups on Thursday.
ANI, Lucknow
PUBLISHED ON JAN 22, 2021 05:35 AM IST
In a boost to 'Start In UP' programme under the new UP Startup Policy-2020, the Policy Implementation Unit (PIU) approved marketing assistance to four startups on Thursday.
Each of the four startups will get ₹5 lakh as marketing assistance over a period of one year to launch Minimum Viable Product in the market, an official release said.
The four startups that have been granted approval for getting funds are G systems of Prayagraj, Enray solutions LLP of Ghaziabad, Bhurak Technologies of Saharanpur and Matfusion weld Pvt Ltd of Lucknow in farming, solar power, face recognition and bio-fuel sectors respectively.
Emphasizing the importance of support to startups in early stage, Additional Chief Secretary, IT and Electronics and Chairman of PIU Alok Kumar said that the objective of facilitation and incentives was to encourage innovators to stimulate commercialization of their inventions and to help in validating "proof of concept".
Sensex tanks 1,631 points to 49,407 in afternoon session; Nifty below 14,600
By hindustantimes.com | Written by Kanishka Sarkar | ANI
UPDATED ON FEB 26, 2021 01:10 PM IST
According to a Reuters poll, India's economy is likely to have returned to growth in the December quarter after contracting 7.5% in the July-September period.
RailTel Corp of India jumps 16% in market debut
Reuters, Bengaluru
PUBLISHED ON FEB 26, 2021 11:10 AM IST
More than a dozen companies, including Burger King India, opted for initial public offerings (IPOs) in the last few months of 2020 to cash in on a rally in Indian shares, fuelled by record foreign inflows and an improving economic outlook.
Rupee tanks 67 paise to 73.10 against US dollar in early trade
PTI, Mumbai
PUBLISHED ON FEB 26, 2021 10:56 AM IST
At the interbank forex market, the domestic unit opened at 72.43 against the US dollar, then lost further ground and touched 73.10, registering a plunge of 67 paise over its previous close.
Australia to lift ban on Boeing 737 MAX, first in Asia-Pacific region
Reuters
PUBLISHED ON FEB 26, 2021 10:04 AM IST
The Civil Aviation Safety Authority on Friday it would lift a near two-year ban after accepting the comprehensive return-to-service requirements set by the U.S. Federal Aviation Administration (FAA).
Sensex tanks over 1,000 pts in opening trade; Nifty slips below 14,900
PTI, Mumbai
PUBLISHED ON FEB 26, 2021 09:53 AM IST
After touching a low of 49,950.75, the 30-share BSE index was trading 927.21 points or 1.82 per cent lower at 50,112.10.
Indices in red as Sensex falls 759 points to 50,280; Nifty slides 220 points
By hindustantimes.com, New Delhi
UPDATED ON FEB 26, 2021 09:53 AM IST
In the opening session on Friday, Sensex was trading at 50,280.
GDP to shrink 7% this fiscal, see 13.7% growth in FY 22, says Moody’s
By Asit Ranjan Mishra, Gopika Gopakumar, Livemint, New Delhi, Mumbai
PUBLISHED ON FEB 26, 2021 08:19 AM IST
The rating agency also said India’s weak fiscal position will remain a key credit challenge in 2021 with a debt-to-GDP ratio above its peers. India has the lowest investment grade of Baa3 with negative outlook from Moody’s.
Burman family may get joint promoter status at Eveready
By Anirudh Laskar, Livemint, Mumbai
PUBLISHED ON FEB 26, 2021 08:15 AM IST
The shareholding of the Khaitan family plunged to just 4.5% from 44.1% over the past year as lenders sold shares of Eveready pledged with them after the promoter group defaulted on payments.
Bharti Airtel raises $1.25 billion through overseas bonds
By Ishita Guha, Livemint, New Delhi
PUBLISHED ON FEB 26, 2021 08:09 AM IST
Bharti Airtel priced the senior 10.25-year bonds of $750 million at a yield of 187.5 basis points (bps) for an implied coupon of 3.25%, while its wholly-owned subsidiary Network i2i Ltd priced $500 million worth guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.
Govt tweaks norms for public procurement deals: Officials
By Rajeev Jayaswal
PUBLISHED ON FEB 26, 2021 08:07 AM IST
The profit criterion for prequalification in government tenders has been discontinued with immediate effect, the officials said on condition of anonymity.
Supreme Court gives breather to govt, EPFO in pensions case
By Utkarsh Anand, New Delhi
PUBLISHED ON FEB 26, 2021 08:02 AM IST
It also directed that no adverse orders be issued against EPFO and the government for not complying with the apex court’s 2019 judgment, which ordered that subscribers of the Employee Pension Scheme or EPS be given the full pension as calculated by their last drawn salaries, irrespective of the ceiling.
Powell is patient but markets aren’t, challenging new Fed policy
Bloomberg
PUBLISHED ON FEB 26, 2021 06:38 AM IST
In the market bleachers, some big names in economics, including Harvard University economist Lawrence Summers and former IMF chief economist Olivier Blanchard, are warning of economic overheating from the $1.9 trillion stimulus bill.
Oil mixed, US crude hits highest since 2019 as refineries restart
Reuters, New York
PUBLISHED ON FEB 26, 2021 06:30 AM IST
Earlier in the day, an assurance that US interest rates will stay low and a sharp drop in US crude output last week due to the winter storm in Texas, helped boost both US crude and Brent to their highest intraday prices since January 2020.
Oil set for monthly surge with market watching next OPEC+ move
Bloomberg
PUBLISHED ON FEB 26, 2021 06:13 AM IST
The recovery from the Covid-19 pandemic accelerated this year after Saudi Arabia pledged deeper output cuts, helping to drain bloated stockpiles.
Wall Street closes down, tech selloff drags as bond yields climb
Reuters, New York
PUBLISHED ON FEB 26, 2021 05:47 AM IST
The benchmark 10-year Treasury yields hit a one-year high of 1.614%, prompting investors concerned about rich valuations to lock in profits on some high-flying growth stocks.
