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A crore (/krɔːr/; abbreviated cr) denotes ten million (10,000,000 or 107 in scientific notation) and is equal to 100 lakh in the Indian numbering system. It is written as 1,00,00,000 with the local 2,2,3 style of digit group separators (one lakh is equal to one hundred thousand, and is written as 1,00,000).[1]
The word crore derives from the Prakrit word kroḍi, which in turn comes from the Sanskrit koṭi (कट),[3] denoting ten million in the Indian numbering system, which has separate terms for most powers of ten from 100 up to 1019. The crore is known by various regional names.
According to the bulk deal data available with the National Stock Exchange (NSE), BNP Paribas Arbitrage offloaded shares of Suzlon Energy worth Rs 1,331 crore, sold shares of Persistent Systems for Rs 1,174 crore and disposed of shares of APL Apollo Tubes for Rs 1,116 crore.
A senior executive at Infosys in Bengaluru was entrapped in a scam where impostors, posing as officials from the Telecom Regulatory Authority of India (TRAI) and Mumbai police, swindled him of Rs 3.7 crore, the Times of India reported.
The scammer further alleged that the executive's Aadhar card details were linked to a money laundering case. Over the next 48 hours, the victim, under pressure, transferred Rs 3.7 crore to various bank accounts, believing it would settle legal matters and prevent arrest.
Lifestyle diseases are on a constant rise. While we ensure to follow a healthy lifestyle and healthy diet, it is crucial to be financially prepared for any health emergency. Medical conditions are not always due to poor lifestyle. It may be due to hereditary factors as well. Thus, a health insurance policy with higher coverage, for instance, Rs 6 to 1 Crore Health insurance plans, would serve as a financial cushion. All your major expenses entailing hospitalisation, daycare treatment, as well as pre and post hospitalisation medical expenses, will be covered under your health insurance of 1 crore. You get coverage for certain specific ailments and pre-existing diseases after the waiting period is over, subject to policy terms and conditions.
India uses a number system that differs from the international number system. This report presents numbers in the international system and, in parentheses, the Indian system. The Indian number system uses units such as lakhs and crores and places commas at different intervals than the international system. Some examples of equivalents:
Though religious groups grew at uneven rates between 1951 and 2011, every major religion in India saw its numbers rise. For example, Hindus increased from 304 million (30.4 crore) to 966 million (96.6 crore), Muslims grew from 35 million (3.5 crore) to 172 million (17.2 crore), and the number of Indians who say they are Christian rose from 8 million (0.8 crore) to 28 million (2.8 crore).
Bengaluru: Nine high-density corridors in Bengaluru, including the Outer Ring Road, will get a Rs 400-crore facelift that promises to make life better for the tech hub's vehicle users and pedestrians.
The project was approved by the previous Basavaraj Bommai government after it was revised to Rs 400 crore. After the change of guard, the BBMP received approval from Deputy Chief Minister D K Shivakumar to begin the work.
In the numbering system, the terms rupees, lakhs, crores and millions are generally used to write the large amount of currency in a simple and understandable way so that everyone can use them efficiently. The conversion of currency from millions to crores involves the conversion from the International to Indian numeral system. However, the place value of digits varies from the Indian numbering system to International numbering system.
Soon enough, our country achieved the extraordinary milestone of administrating 100 crore COVID-19 vaccines, the credit to which goes to our COVID warriors including doctors, nurses and all those who worked to achieve this feat.
This mega economic booster package amounting to INR 20 lakh crore ($ 265 Bn) is the second largest in Asia after Japan and is equivalent to 10 per cent of the Indian economy. This package covers all the major sectors of the Indian economy such as Agriculture, Manufacturing, MSMEs, among many others.
1. INR 3 lakh crore collateral-free automatic loans for businesses, including MSMEs. Emergency credit line to businesses/MSMEs from banks and NBFCs up to 20 per cent of the entire outstanding credit as on 29th February 2020.
1. EPF contribution from government extended for 3 months: This support will be extended by another three months to salary months of June, July and August 2020. It will provide liquidity relief of INR 2500 crore to 3.67 lakh establishments and covers about 72.22 lakh employees.
2. EPF contribution reduced for business and workers for 3 months amounting to a relief of INR 6,750 crores: CPSUs and state PSUs will, however, continue to contribute 12% as employer contributions.This will provide relief to about 6.5 lakh establishments covered under EPFO and about 4.3 crore such employees.
1. INR 30,000 crore special liquidity scheme for NBFCs/HFCs/MFIs: Under this scheme, investment will be made in both primary and secondary market transactions in investments grade debt papers of NBFCs/HFIs/MFIs. Such secturities will be fully guaranteed by the Indian government.
2. INR 45,000 crore partial credit guarantee scheme 2.0 for NBFCs: First 20 per cent of loss will be borne by the Guarantor, i.e, Government of India, resulting in a liquidity of INR 45,000 crore.
INR 90,000 crore liquidity injection for DISCOMs: PFC/REC to infuse liquidity of INR 90,000 crore to DISCOMs against their receivables. Loans will be given against state guarantees for the exclusive purpose of discharging the liabilities of DISCOMs to generation companies.
1. INR 50,000 crore liquidity through TDS/TCS rate reduced by 25 per cent: Payment for contract, professional fees, interest, rent, dividend, commission, brokerage etc will be eligible for this reduced TDS rates. This reduction will be applicable from tomorrow (14th May 2020) to 31st March, 2021.
Term insurance plans come as a huge financial safety net for a family in times of need, such as financial hiccups or the demise of the breadwinner. However, how big an amount should you take to secure your family? In one of our previous articles, we told you how having a second insurance policy or a critical illness policy can help. However, considering the rising cost of livelihood in the cities, buying an insurance policy with a coverage of Rs 1 crore becomes as important.
1 crore term insurance policy offers a sum assured of 1 crore to the nominee in case something happens to the insured individual. These policies offer a high sum assured to help family members deal with the financial repercussions of loss.
If you are in the age group of 30-35 years and have more earning years, or if you are the only earning member of the family, a Rs 1 crore term insurance plan will be beneficial for your family after your death.
Several insurers offer term insurance plans with a cover of Rs 1 crore. Earlier the premiums would keep fluctuating based on what the others are charging. With IRDA's new regulations, insurance companies have reduced the premium rates. When comparing various insurers, do a due check of the underwriting norms as many insurers give lower premiums with stringent rules.
ABB India achieved a significant milestone in order booking by reaching INR 10,028 crore in CY2022 and INR 2,335 crore for Q4 CY2022. The growth during the quarter (Q4 CY2022) was led by large value orders in industrial solutions and segments like data centers in Electrification. In Motion, better penetration in segments like railways, metals, rubber and food and beverage and enhanced presence tier 1 and 2 cities spurred growth. Process Automation held steady with opportunities from paint industry and energy companies. Robotics received significant traction in paint orders from automotive and auto component companies.
ABB India posted a revenue of INR 8,568 crore for CY2022, the highest in the last five years. For Q4 CY 2022, the Company posted a revenue of INR 2,427 crore with solid double-digit growth across business areas. Seamless execution of a solid order backlog, complemented by higher revenue from export and services and focused supply chain actions contributed to the revenue growth during the quarter and the year. Utilities followed by metals, mining, transport, chemicals, energy, buildings are some of the sectors for the augmented revenue stream.
Profit and cash flow from operating activities
For CY2022 profit before tax (before exceptional items and one-offs) was at INR 1,024 crore and the profit after tax was at INR 1,026 crore. The PAT for CY2022 includes an exceptional item of INR 339 crore from the profit on the sale of the turbocharger business. For Q4 CY 2022, profit before tax (before exceptional items and one-offs) was at INR 400 crore, up 83 percent Y-o-Y and profit after tax was INR 306 crore, up by 58 percent Y-o-Y. Volume growth, strong price realizations, cost optimization, and improved revenue mix were key factors which aided growth throughout the year.
Earlier, phase I applied to the e invoice turnover limit of more than Rs.500 crore from 1st October 2020. During phase II, businesses with a yearly turnover of over Rs.100 crore started to issue e-invoices from 1st January 2021.
Phase III extended to businesses with an annual turnover of more than Rs.50 crore beginning from 1st April 2021. A year later, the government reduced the e invoice limit to more than Rs.20 crore as phase IV. Phase V has been implemented recently from 1st October 2022 for businesses with an annual turnover of over Rs.10 crore.
Larger chunk of taxpayer companies fall in the Rs.5-10 crore annual turnover category as compared to the previous phase. Moreover, these small businesses also tend to have a greater transactional magnitude inviting fresh compliance challenges.
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