- Shares of Signal Advance INC. spiked up by almost 600% in two days. This is because the Twitter followers of Elon Musk misunderstood his advice of using the signal messaging app as investing in the shares of Signal Advance Inc.
- Avenue supermarkets reported or 16% year-on-year rise in the consolidated net profit of DMart for the December quarter. The total revenue for the quarter came to Rs. 7542 crore which is almost 10.76% over its year-ago quarters which was Rs. 6809 crores. The possible reason for this performance he compared to the previous 2 quarters could be an agile operating expenses management along with a good search in festival shopping allowed.
- The government is considering easing the NPA non-performing assets classification. 2 between 120 -180 days up from 90 days. This has been taken with an objective to provide relief to the industry and smaller businesses in the light of COVID-19. this will not only help the companies pay interest in time but also the banks maintain their capital adequacy ratios even with the COVID-related defaults.
- The Department of Revenue has now mentioned that any purchase of gold, silver, jewelry all precious gems, and stones below Rs. 2Lakh does not require PAN or Aadhar of a customer as a mandatory KYC document.
- Due to the loss of excessive expenditure due to the Coronavirus pandemic the government is in talks to introduce a new COVID-19 cess on taxpayers who fall under the high-income bracket. it might also be imposed on some indirect taxes. COVID-19 cess will allow the government to quickly generate funds as opposed to raising taxes. The generated funds could help the government in the planned COVID-19 inoculation drive, the distribution, manpower, training, cost of vaccination, etc.
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