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Flipkart introduces online ‘No Cost EMI’ option

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No Cost EMI

New Delhi, May 31 : E-commerce major Flipkart on Tuesday introduced “No Cost EMI” option to make online shopping affordable for high-end purchases through an attractive financing option of Equated Monthly Installments (EMI) where customers will not bear additional cost.

Flipkart’s “No Cost EMI” entails zero processing fee, zero down payment and zero interest for customers.

“This is the first step towards making shopping truly affordable for masses online and brands have shown great enthusiasm to collaborate with us. This has the potential to disrupt online shopping just like we did with Cash on Delivery a few years ago,” said Mayank Jain, head of digital and consumer financial services, Flipkart, in a statement.

With the introduction of “No Cost EMI” option, Flipkart aims to enable more people to get access to products they aspire for.

The company has partnered with Bajaj Finserv and key brands to create this offering which is available for select products and sellers for now. The offering comes with loan tenures starting 3 months up to 12 months.

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Centre allows movement of persons and goods across borders from June 1

The MHA emphasised that no state/UT shall stop the movement of any type of goods/cargo for cross land border under treaties with neighbouring states.

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New Delhi, May 30 : The Centre on Saturday, while announcing the guidelines for phased re-opening of the lockdown, said that from June 1, there will be no restriction on inter-state and intra-state movement of persons and goods.

In an exit mode from the 68-day nationwide lockdown, the Centre said that restrictions will be limited to only containment zones up to June 30. Applicable from Monday, June 1, the fresh order issued by the Ministry of Home Affairs (MHA) said, “There shall be no restriction on inter-state and intra-state movement of persons and goods. No separate permission/ approval/ e-permit will be required for such movements.”

The MHA emphasised that no state/UT shall stop the movement of any type of goods/cargo for cross land border under treaties with neighbouring states.

However, if a state/ Union Territory based on reasons of public health and its assessment of the situation proposes to regulate movement of persons, it will give wide publicity in advance regarding the restrictions to be placed on such movement, and the related procedures to be followed.

The MHA said, “Movement by passenger trains and Shramik Special trains; domestic passenger air travel; movement of Indian nationals stranded outside the country and of specified persons to travel abroad; evacuation of foreign nationals; and sign-on and sign-off of Indian seafarers will continue to be regulated as per the SOPs issued.”

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‘Unlock 1’: Hotel industry welcomes move, will follow health safety SoPs

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DELHI LOCKDOWN

New Delhi, May 31 : India’s hotel industry has welcomed the Centre’s norms under ‘Unlock 1, which allow them to re-commence operations.

These norms are part of the fifth phase of the nationwide lockdown which was announced on Saturday for the containment zones till June 30, providing relaxations for the hotel industry from June 8 onwards.

This phase relaxes many restrictions on businesses.

Hotel Association of India Vice President K.B. Kachru said: “The pandemic and consequent lockdowns have had disastrous impact on the hotel sector.”

“We welcome the government’s decision to allow restaurants, hotels and malls to open in areas outside the containment zones from June 8. We hope this landmark decision will pave the way for graded resurgence of the hotel industry,” Kachru said.

He urged the Centre to consider setting up of a Tourism COVID 19 Fund for en abling the tourism industry to meet its salary and working capital needs.

Major Industry player such as Ritesh Agarwal, Founder & Group CEO – OYO Hote ls & Homes said: “We welcome the government’s decision to reopen hotels. We are excit ed and prepared to host guests with the new sanitised stay experience.a

Similarly, Nakul Anand, Executive Director, ITC, and Chairman of the Federation of Associations in Indian Tourism & Hospitality (FAITH), thanked the Centre for reallowing the commencement of business operations of hotels, restaurants and other hospitality services under Unlock 1.

“We welcome the government’s decision to reopen hotels. We are excited and prepared to host guests with the new sanitised stay experience. At OYO, our topmost priorities are maintaining health, hygiene & well-being of our guests and staff. Right from our app to hotel teams, we are working to ensure proper sanitisation of hotels as well as maintaining social distancing with the guests. We are displaying a ‘Sanitised Stays’ tag for properties that clear background audit checks for sanitisation, hygiene, and protective equipment. We along with our asset partners, look forward to delivering a safe, secure and comfortable experience for our guests,” said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes.

On its part, Merrill Pereyra, Managing Director, Pizza Hut Indian Subcontinent, said: “This is a welcome announcement from the government and all our stores are fully prepared to serve the valued customers. All our stores are equipped to offer contactless dining wherein right from accessing the menu to making payments, the process will be digital.”

According to Ankur Bhatia, Executive Director, Bird Group: “We are already pushed to the wall. A little more extension of lockdown would have done irreversible economic damage. We welcome the government’s move to allow us to operate.”

In a statement, Zubin Saxena, Managing Director and Vice President, Operations, South Asia, Radisson Hotel Group, said: “We are looking forward to resuming operations within the government guidelines.

“Apart from hygiene, our go forward business model is concentrated on leveraging the synergies of our network which we believe will work in a sustainable manner to ensure business uplift overtime. We remain dedicated to exceeding guest expectations in the new era of hospitality that awaits us.”

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Yashwant Sinha criticises Modi over economy

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Yashwant Sinha

New Delhi: Former Finance Minister Yashwant Sinha, a strong critic of the Narendra Modi government made a satirical remark against Prime Minister over the decline in economic growth rate as GDP growth between Jan 2020-March 2020 is 3.1%, lowest in 11 years.

The former finance and external affairs minister took to Twitter to express his views as the BJP and its leaders celebrated the completion of first year rule of Modi 2.0

“The sharp decline in economic growth rate in the first year of Modi-2 is not because of any fault of this govt but because of Pt Jawaharlal Nehru. If he had not ruled India from 1947 to 1964 India today would be growing at double digit,” former Union Minister Yashwant Sinha tweeted.

“The growth figures of earlier quarters of the last fiscal had to be revised downwards because of the lockdown imposed on March 25. The government cannot be blamed for this. I am warning all critics in advance,” he added.

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