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With public sector banks losing share of current and savings account business, finance minister Nirmala Sitharaman has asked state-run bank chiefs to focus on innovative deposit instruments so that they can raise lower-cost resources to meet their financing requirements. The minister once again flagged the issue at a meeting with public sector bank chiefs on Saturday with sources saying that she wanted the lenders to focus on their "core activity". Some of the new generation private banks, for instance, are offering over 9% on certain tenures of term deposits. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xbKyg3o

Indian Overseas Bank introduces savings account portability online for customers, making account transfer more efficient and easier. Customers can initiate the transfer by logging into the bank's website and providing their account number. A one-time password is sent to the registered mobile number for verification. Customers can specify the desired branch for the transfer of funds. The successful transfer is confirmed with the account number and destination branch code. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H6mcMFA

While Reliance Industries, HDFC Bank, ICICI Bank, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS) and Infosys were the laggards. The market valuation of HDFC Bank jumped Rs 29,828.84 crore to Rs 12,97,972.04 crore. Reliance Industries continued to retain the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and LIC. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cWO6ILg

Mumbai recorded the best property sale registrations in 11 years, with total registrations of 127,139 real estate properties in 2023. The total value of stamp duty collected was Rs 10,889 crore, a 10-year high recording and a year-on-year growth of 22%. Residential units constituted 80% of the registered properties. Central and Western suburbs together constituted over 75% of the registrations. There was a 57% increase in high-value property registrations, and properties valued at Rs 1 crore and above were less impacted by increasing prices and policy repo rate. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uA9DhPR

India's foreign exchange reserves reached a 21-month high of $620.441 billion in the week ending December 22, 2023, with the Reserve Bank of India adding about $58 billion to its foreign exchange kitty in 2023. The country's foreign currency assets rose to $549.747 billion, while gold reserves declined to $474.74 billion. The decline in forex reserves since October 2021 can be attributed to a rise in imported goods' cost in 2022 and RBI's intervention to defend the rupee against the US dollar's surge. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WIpFGCf

Mukesh Ambani, chairman and MD of Reliance Industries, aims to place his conglomerate among the world's top 10 business groups. Ambani emphasized the importance of taking bold and courageous steps, learning from past errors, and avoiding complacency. He highlighted Reliance's track record of disrupting markets through innovation and reinvention. The conglomerate has transformed from a traditional energy and materials enterprise to a technology player with its telecom and digital services. Ambani urged employees to embrace an ownership mindset. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3CBsIeo

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Bank of Baroda has increased interest rates on short-term deposits by up to 125 basis points (100bps = 1 percentage point). The move comes a day after the country’s largest lender SBI increased rates on some maturities of fixed deposits by 50bps. BoB will now offer 4.25% on fixed deposits from one week to 14 days as against 3% earlier. On deposits from 15 days to 45 days, the interest rate has been hiked by one percentage point to 4.5%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yf1ZY2K

Tata Group chairman N Chandrasekaran has pitched a dedicated AI job role in group companies to harness the “benefits of AI, economically, operationally and socially”. While group companies have been leveraging artificial intelligence to improve productivity and efficiency, to reduce human time and effort, Chandrasekaran’s pitch to appoint “AI champions” comes amid industries across the world making multi-billion dollar investments in AI. Tata Group has partnered with US-based chip maker Nvidia to develop AI solutions to catalyse transformation across its units ranging from manufacturing to consumer businesses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dE5X4JC

LIC had a claim settlement ratio of 98.5% as of March 31, 2023, according to data released by the Insurance Regulatory and Development Authority in its annual report. The ratio showed a slight decrease from the 98.7% reported a year earlier. In contrast, private sector counterparts had a claim settlement ratio of about 98% — slightly down from previous year’s 98.1%. Regarding individual life insurance business for the year 2022-23, of the total 10.8 lakh death claims, life insurance companies settled 10.6 lakh — disbursing a total benefit amount of Rs 28,611 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FRrP7wQ

The RBI has increased the capital requirements for SBI and HDFC Bank under its guidelines for systemically important banks as it sees higher contagion risks. The need for a higher capital buffer comes at a time when the central bank analysed how problems in one bank could affect others in its financial stability report. The report shows that if the most critical bank were to fail, it would now affect 3.6% of all banks’ tier-1 capital, up from 2.2% in March 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/n7FA0Y2

Sensex and Nifty hit new all-time highs driven by strong foreign fund buying. Sensex touched 72,120 points, closing just below that mark at 72,038, up 702 points. Nifty reached 21,676 points and closed at 21,655, up 213 points. Foreign portfolio investors (FPIs) had a net buying figure of Rs 2,926 crore, while domestic funds were net sellers at Rs 192 crore. The market capitalization of BSE is now at Rs 368 lakh crore. HDFC Bank and Infosys contributed the most to the index's gain, while Nifty also followed similar trajectory. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3LEZQKt

Despite a 22% growth in health insurance premium numbers, insurance penetration in India remains sluggish. The number of lives covered under individual health insurance policies has grown by 2.5% to 528.9 lakh in March 2023, lower than March 2021 levels. Overall, the number of lives covered under health insurance, including group business, has increased by 5.7% in FY23. However, government scheme coverage has declined to 29.8 crore in FY23. The affordability of health insurance remains an issue, leading to older people dropping out due to higher rates. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QnXA8kb

SBI has raised interest rates on short-term fixed deposits by 50 basis points, marking its largest increase in recent months. The bank now offers 3.5% return on deposits between 1 week and 45 days, and 4% for senior citizens. SBI's 400-day Amrit Kalash scheme provides 7.1% interest (7.6% for senior citizens) until March 31, 2024. The bank has also increased rates for deposits between 180 to 210 days by half a percentage point. Other banks are expected to follow suit as liquidity in the system decreases. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/H2MqAXV

The government has asked banks to be prepared for the risk of deepfake clips, where voices are cloned to deceive people. Banks need to include cyber risks in stress tests to assess their vulnerability. This is already being done by banks in Europe and Singapore. Financial services secretary Vivek Joshi emphasized the importance of upgrading tools to protect against emerging threats. He also highlighted the need for a new cycle of private investment. Joshi believes that the rupee will be the least volatile major currency in 2023. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bQBFT0m

The Adani family plans to invest Rs 9,350 crore in Adani Green Energy, helping to reduce the company's debt and fund expansion. Total Energies and GQG Partners also own stake in Adani Green. The investment will increase the Adani family's stake to 58.05% from 56.37% through the conversion of convertible warrants. Adani Green aims to repay loans and bonds, invest in renewable projects, and cover ongoing expenses with the funds. The company has a goal of achieving a renewable energy capacity of 45 gigawatts by 2030. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DT4P3Vk

India and Russia have signed important agreements related to the construction of future power generating units at the Kudankulam nuclear power plant in Tamil Nadu during External Affairs Minister S Jaishankar's visit. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YTKeGtN

The ownership dispute between Baba Kalyani and Sugandha Hiremath in Hikal takes a new turn as Baba loses his board seat in a shareholder vote. He failed to secure the necessary votes needed to continue as Hikal's non-executive, non-independent director due to his age. Sugandha, with a significant stake in Hikal, voted against her brother's continuation as a director. The month-long postal ballot-cum-electronic voting process concluded with about 79% of Hikal shares voted. Hikal is also the center of a legal battle between the siblings. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/8kSaBnH

China expressed firm backing to Chinese businesses and promises consular protection for arrested Vivo-India executives in India in connection with a money laundering probe. The Chinese government came out in support of Chinese businesses to "safeguard lawful rights and interests". Chinese embassy and consulates in India will provide consular protection and assistance to the individuals concerned. Four arrests have been made in the case, including Vivo-India executives, Lava International's MD, a Chinese national, and chartered accountants. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0nZbNuI

The recent attacks on ships and the decision to use the Black Sea route will impact Indian trade with increased freight rates, container supply problems, and higher costs. A drone attack in the Red Sea by Houthis has prompted major shipping companies to divert vessels, resulting in longer routes and increased charter costs. The challenges in shipping logistics due to attacks on ships may push freight and insurance costs higher. Efforts are needed to diversify trade routes and enhance maritime security cooperation. India should work to decrease reliance on the Bab-el-Mandeb Strait for energy imports. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ObCaQ7m

In 2023, 58 IPOs were listed, raising nearly Rs 49,500 crore. The absence of mega-issues made it the fourth-highest grosser in the past 10 years. Investors focused on listing gains, but a report highlights the opportunity for higher gains after listing. Only one IPO, Tata Technologies, doubled investor money on listing, while others did not. IREDA almost doubled on debut and has tripled in value since listing. The IPO pipeline for 2024 looks strong, with Ola Electric Mobility expected to be a mega IPO raising around Rs 10,000 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/85P3rji

The Reserve Bank of India (RBI) will no longer have a director on the board of RBL Bank as the central bank-appointed additional director completes his two-year term. The absence of an RBI director on the board is seen as a positive sign, indicating confidence in the stability of RBL Bank. RBI chief general manager Yogesh Dayal, appointed in December 2021 during a period of uncertainty, concluded his two-year term on the board. Subsequently, in July 2022, R Subramaniakumar was appointed as the managing director and CEO of RBL Bank for a three-year term, with the approval of the RBI. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kfhP76Z

Consumers are recognizing the connection between beauty and overall well-being, shifting their focus beyond external appearance. Market research shows that lifestyle factors such as stress, lack of sleep, unhealthy diet, and physical inactivity negatively affect skin health. Indians prioritize getting enough sleep and eating healthily to prevent signs of aging. Brands have the opportunity to tap into the mind-body connection trend, with products that promote holistic wellness. Studies show that sleep deprivation affects facial skin parameters. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/w9y4ULr

FDI into India expected to increase in 2024 due to healthy macroeconomic numbers, better industrial output, and attractive PLI schemes. The government reviews FDI policy regularly to ensure India remains investor friendly. Inflow of FDI declined in 2023, but India is still the preferred destination for foreign players. Production linked incentive schemes have attracted foreign investors, and steps to improve ease of doing business and infrastructure are being taken. Despite global challenges, India's fundamentals make it an attractive investment destination. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cm5bv1g

Foreign portfolio investors (FPIs) inject over Rs 57,300 crore into Indian equity markets this month due to political stability, robust economic growth, and declining US bond yields. Total FPI investment exceeds Rs 1.62 lakh crore this year. In 2024, FPIs are expected to increase purchases as US interest rates decline. FPIs made a net investment of Rs 57,313 crore in Indian equities this month, the highest monthly inflow in a year. FPIs were big buyers in financial services and also showed interest in autos, capital goods, and telecom sectors. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/o0RjaJe

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The New York Mets, owned by Steve Cohen, have been hit with a record luxury tax bill of nearly $101 million after finishing in fourth place in the NL East. This marks their first time owing tax money. The final amount owed by the Mets would have been slightly higher, but they received a tax credit under a provision in the latest collective bargaining agreement. The total spending on luxury tax payrolls in MLB rose to a record high. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Pv1ScD0

This article discusses the initiatives by Amazon Web Services (AWS) in government departments in India, as shared by Shalini Kapoor, director and chief technologist of AWS India public sector business, during AWS re:Invent 2023. AWS has supported the Indian government in rolling out CoWin, DigiLocker, and DigiYatra, and is focused on building national digital platforms. They are also working with state governments and organizations to enable e-governance services and support the agriculture sector. CEO Adam Selipsky's announcements at the event can help develop a digital ecosystem in India. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/68ikcQP

China's raft of new measures limiting players' spending on video games sent ripples through stock markets globally. Prosus and Naspers slumped in Amsterdam and Johannesburg due to the regulator's draft rules, impacting their holdings in Tencent. The Nasdaq Golden Dragon China Index declined, with NetEase leading losses. Ubisoft and Unity Software also fell. China's gaming regulator published draft rules targeting practices that encourage excessive spending in online games, sparking fears of an industry crackdown. Prosus's sensitivity to factors beyond its control, such as its Tencent stake, is evident in its stock performance. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tH6FIZl

The Mumbai Metropolitan Region (MMR at 20%), National Capital Region (NCR at 19%) and Bengaluru (19%) have emerged as India's most searched regions for properties in 2023, according to a report by Magicbricks. Multi-storey apartments remain the top choice (80%) of homebuyers, followed by builder floors. Over 56% of home-seekers preferred 3 BHK and larger units, evidencing a strong preference towards spacious apartments. NRIs looking for properties rose to 9.4% of total demand this year from 6.2% in 2022. MMR (63%) and NCR (34%) led the demand in the luxury segment. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/9umrGsF

Tata Motors, with over 70% market share in India's electric car market, is set to launch three new green vehicles: the Curvv coupe, electric versions of the Harrier premium off-roader, and the Punch mini SUV. Shailesh Chandra, MD of Tata Motors' passenger vehicles and electric mobility divisions, emphasized that only 'zero emission vehicles' should receive benefits, not hybrids that offer only 'fuel efficiency improvement technologies'. Tata Motors aims to expand aggressively in the electric vehicle sector, with retail sales expected to reach 65,000-70,000 units this year, growing between 60% and 70%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nTiOJIZ

A paper by the finance ministry's economic division calls for reform in the credit rating process of global agencies like Moody's, Fitch, and Standard & Poor's. The paper highlights the opaqueness and disadvantage faced by developing countries due to the rating methodologies. It criticizes the weighting of foreign ownership of banks and the lack of transparency in selecting experts. The review of the credit rating methodologies of the officials showed that there was considerable reliance on qualitative variables to capture 'willingness to pay'. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Oe3pwhr

The Centre is set to miss its privatisation target for state-run companies this year due to stalled progress and limited appetite before elections. Roadblocks, including bureaucratic sloth, have hindered the process, affecting big-ticket enterprises like IDBI Bank. Stake sales in state-run banks and an insurance company recommended for privatisation by NITI Aayog have not moved forward. The privatisation of Pawan Hans has been scrapped, and the large public sector policy has not taken off. The disinvestment process is now awaiting the new government for a fresh start. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LaMxizo

Sensex correction due to profit-taking and selling by speculators resulted in a 1,610 point crash from the day's high. Short selling and margin calls led to forced liquidation, contributing to the market slide. Crude oil prices spiked due to attacks on commercial ships in the Red Sea area. The rise in Covid infections and hike in margins for derivatives trades were additional factors. Market capitalisation decreased by Rs 9 lakh crore. Foreign funds sold Rs 1,322 crore while domestic funds bought Rs 4,754 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VgBwfUS

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The IMF expects India's economy to grow above 6% over the next five years, driven by strong investment, private consumption, and digitalisation-driven productivity gains. The report commends India's macroeconomic policies and reforms, resulting in a strong and resilient economy. India is on track to be one of the fastest-growing major economies. The IMF calls for continued appropriate policies to sustain economic stability and further progress in key structural reforms. The report also praises RBI's proactive monetary policy actions and commitment to price stability. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/7Y3qzD4

States are adopting a 'just in time release' of funds to improve efficiency and reduce borrowing. The Centre's move to rework fund release saved around Rs 10,000 crore last year and is expected to save more this year. However, banks that relied on government cash flow are now affected. The Centre implemented a Treasury Single Account and two other accounts to reduce fragmented banking arrangements. The new system releases funds promptly, tracks transactions in real-time, and improves delivery efficiency. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/q9XIce3

Remittances to India are estimated to rise over 11% to $125 billion in 2023, helping it retain the top spot ahead of Mexico and China. Flows to South Asia are estimated to have grown 7.2% in 2023 to reach $189 billion. Remittances from highly skilled Indians in the US, the UK, and Singapore account for 36% of total remittance flows to India. The UAE is the second-largest source of remittances to India after the US, accounting for 18% of the total. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5Gzl2Eg

​Amid demands from European spirits and wine manufacturers to lower tariffs in India under the proposed free trade agreement (FTA), the Confederation of India Alcoholic Beverage Companies (CIABC) has sought better market access for the Indian products into the European Union. The lobby group has pointed to "non-tariff barriers" such as its definition of whisky and brandy to argue for their dismantling. For a product to be classified as "whisky" in the EU, it has to have a maturity period of three years or more, and one year to be categorized as "brandy". from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/utABIz4

Sri Lankan President Ranil Wickremesinghe defends the IMF program as the only option to address the island nation's economic bankruptcy. He emphasizes the need for tough decisions and debt restructuring to correct past economic wrongs. Wickremesinghe highlights negotiations with India, China, and the Paris Club for debt concessions. He calls for credible alternative plans from critics and warns against misleading statements. The IMF reforms and high cost of living will impact the 2024 election year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WN1IK2f

As of now, the foreign portfolio investors (FPIs) have made a net investment of around Rs 1.5 lakh crore in the Indian equity markets and around Rs 60,000 crore in the debt market. Collectively, they pumped over Rs 2 lakh crore into the capital market, according to data available from the depositories. Of Rs 1.5 lakh crore net equity market inflow, close to Rs 43,000 crore have been invested in the first two weeks of December following the enhanced political stability, owing to the BJP's success in recent elections from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/oWAzuY4

Facebook-owner Meta and China's TikTok restricted a record number of social media posts and accounts in Malaysia in the first six months of 2023, data published by the firms showed, amid a jump in government requests to remove content. Malaysia PM Anwar Ibrahim's administration, which came to power in November 2022 on a reformist platform, has faced accusations of backpedalling on its promises to protect freedom of speech amid increased scrutiny of online content in recent months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/njwAtDk

India's ambition to march into `Amrit Kaal’ by 2047 is an important one but the current pace of growth is not enough to get us there as we will still remain a lower middle-income economy by then, former RBI governor Raghuram Rajan said here on Saturday. Speaking at an interactive session organised by Manthan, Rajan mooted a focus on high-value added services instead of manufacturing to productively harness the country’s demographic dividend and propel the country into 'Amrit Kaal' because if India does not grow faster, it would grow older demographically before it gets richer. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/m3PSX0f

Former RBI governor warns that India will remain a lower middle-income country by 2047 if the growth rate remains at 6% annually without population rise. The country will reach the end of its demographic dividend and face the burden of an aging population. The per capita income will only quadruple to $10,000 if the current growth rate continues. Some southern states are experiencing a decline in fertility rate, leading to a slower population growth. The current pace of growth is insufficient to employ new labor force entrants and make the country richer before it gets older. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/RBYizhU

The rupee witnessed a surprise rally on Friday, breaking the 83 levels against the dollar to trade at an intraday high of 82.93 - up 40 paise in a day. The domestic currency closed at 83, gaining 33 paise from its previous close. Dealers attributed the unexpected rally to a sudden inflow of dollars into the market which was seen to be due to overseas fund-raising by an Indian corporate in addition to foreign portfolio purchase in equity markets. Dealers said that the corporate that raised dollar internationally could be the Adani group. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/G1KN3zA

India's trade deficit in November narrowed to $20.6 billion as goods exports and imports fell. Goods exports declined due to a shrinkage in key product categories, including engineering goods, petroleum products, and garments. The fall in imports was driven by oil and coal. Despite the global economic slowdown and high inflation, India's exports numbers are healthy, according to Commerce Secretary Sunil Barthwal. Services exports increased, resulting in a trade surplus and helping narrow the overall trade deficit. However, exports remain weak due to sluggish global demand. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/NEeBrXt

Cyber watchdog CERT-In has warned against multiple security-related vulnerabilities in the products and operating systems of Samsung and Apple devices, which could allow hackers to break into them and get access to sensitive information. CERT-In, which periodically issues advisories about weaknesses in digital products, operating systems and softwares, has issued the alert for users so that they could guard against possible hacks, or update the software on the devices to the latest versions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UPoFZmS

The sensex capped a strong winning week with a 970-point rally on Friday to close above the 71,000-mark for the first time in history. It closed at 71,484 points as software exporters led the rally. The US central bank's announcement late Wednesday that it could start cutting interest rates in 2024 in the world's largest market led to a global rally which continued Friday. In the domestic market, foreign funds remained net buyers with a Rs 9,239-crore net inflow Friday that took the month's tally to about Rs 52,000cr. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/GwR6oLi

CBIC warns field employees about the increasing number of GST-demand notices served on Indian companies due to the deputation of overseas staff. The notices are being issued based on a Supreme Court judgment that held the secondment of employees as a taxable service. However, CBIC cautions against a 'one-size fit all' approach and emphasizes the need for a nuanced examination of each specific arrangement. The tax implications may differ based on the nature of the contract and terms and conditions. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/HB4OTaj

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