Budget 2020

Robinhood to plan confidential IPO filing as soon as March

By Matthew Monks and Katie Roof Robinhood Markets Inc., the trading platform behind the boom-and-bust swing in GameStop Corp.’s shares, plans to file confidentially for an initial public offering as soon as March, according to people familiar with the matter. The company has held talks in the past week with underwriters about moving forward with […]

Budget 2020

STP: What is STP (Systematic Transfer Plan)? Here’s all you need to know.

WHAT IS AN STP? STP (Systematic Transfer Plan) is a method used by investors to stagger money into equity funds over a period of time via safer schemes. Investors who have a lump sum amount and want to invest systematically in equity funds, and simultaneously want to earn risk-free returns by investing in liquid/ultra-short-term schemes […]

Budget 2020

Cabinet approves PLI plan for telecom

Incremental output estimated at ₹2.4 lakh cr., MSMEs to get a leg up; 40,000 jobs may be created The Union Cabinet on Wednesday approved the production-linked incentive scheme for the telecom sector with an outlay of ₹12,195 crore over five years. The scheme, which aims to make India a global hub for manufacturing telecom equipment, […]

Budget 2020

Jobs without fixed salaries are increasing: So plan for money goals wisely

The Economic Survey 2020-21 has thrown light on how the nature of new jobs is moving away from the traditional employer-employee relationship to gig and platform workers. New jobs being created in the economy are increasingly for gig and platform workers where there are no fixed salaries. Therefore, for those entering the gig economy and […]

Budget 2020

IRDAI mandates standard annuity plan

Life insurers must offer plan from Apr. 1 Insurance regulator IRDAI has directed all life insurers to mandatorily offer from April 1 a standard, individual immediate annuity product it has developed. The single premium, non-linked, non-participating plan, to be called Saral Pension with the insurer’s name prefixed, will have simple features and standard terms and […]

Budget 2020

HDFC Bank submits plan of action to RBI, hopes to fix outage issue in 3 months

The action plan will take 10-12 weeks for implementation. The country’s largest private sector lender HDFC Bank has submitted a detailed plan of action to the RBI to address repeated service disruption issues due to outage and hopes to improve its technology platform in three months. Progress is being made on the plan of action […]

Budget 2020

FedEx Express unveils plan to lay off up to 6,300 employees in Europe

FedEx acquired European operator TNT Express, which specialises in shipments between businesses, in 2016 as part of its plan to expand in Europe. FedEx Corp’s express unit on Tuesday announced a plan to lay off between 5,500 and 6,300 employees in Europe, as it nears the completion of the network integration of its TNT Express […]

Budget 2020

World Wide Web inventor opposes Australia’s news payment plan

Berners-Lee, a computer scientist who created the web in 1989, said in a submission to an Australian Senate inquiry he is “concerned that the code risks breaching a fundamental principle of the web by requiring payment for linking between certain content online”. (Subscribe to our Today’s Cache newsletter for a quick snapshot of top 5 […]