Economy

Banks sanction over Rs 1 lakh cr loans to 30 lakh MSMEs under credit guarantee scheme

The latest number on ECLGS, as released by the Finance Ministry, comprises all 12 public sector banks (PSBs), 20 private sector banks and 8...

Lockdown hits biz activity: May core sector output shrinks 23.4%

Overall growth has been hit by declining production in most core sectors, save for fertilisers, according to data shared by the Commerce Ministry Tuesday. Production...

Economy re-opening, firms charter aircraft to fly back workers

The chartered flights to Kochi have been carrying mainly blue-collar workers in the hospitality sector, who had returned to their homes in areas around...

‘Requested ComMin to allow export of PPE kits’

“Over two months ago, India imported PPE kits from China through a special flight and now, the country is producing over 5 lakh PPE...

Centre cancels Rs 1,950-cr BharatNet project in Tamil Nadu

The tender got mired in controversy with allegations of corruption and charge raised by Chennai-based Arappor Iyakkam, that changes in the tender were made...

New Tax Regime: CBDT allows individuals to claim exemption on tour, conveyance allowance

Further, blind, deaf and mute or orthopedically handicap employees can also claim ad-hoc exemption of transport allowance of Rs 3,200 per month while computing...

Not an easy task for banks … but methods of lending and quality of lending has to improve: SBI chief

Rajnish Kumar said that evolution of digital technology at banks will play a big role in easier lending to MSMEs as it is making...

Govt to launch floating rate savings bond from July 1

The new scheme has been brought in place of 7.75 per cent Savings (Taxable) Bonds, 2018, which was withdrawn from the close of banking...

RBI board takes stock of economy, rate transmission; no decision on loan recast

Call on transfer of surplus to the Central government likely to be taken in the next meeting. Contrary to expectations, the Central Board of the...

UCO Bank Q4 net profit at Rs 16.78 crore

Income during the March quarter increased to 4,511.21 crore, from Rs 4,148.52 crore in same period of preceding fiscal, UCO Bank said in a...

RBI Governor briefs central board about impact of monetary steps

The RBI had taken a host of steps, including reduction in the key policy rate and measures to support the industry, to deal with...

Market

Sensex rises over 50 points in opening deals, Nifty over 10,300-mark

At 9:15 am, the S&P BSE Sensex was at 34,985.30, up 69.50 points (0.20 per cent) while the Nifty 50 was up 15.10 points...

Sebi seeks clarification on CAMS IPO

The CAMS' IPO will sell 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments, Acsys Investments, HDFC and HDB Employees Welfare...

Raymond shares decline over 4% after Q4 earnings

Raymond stock dipped 4.23 per cent to Rs 275 on the BSE. On the NSE, it declined 3.76 per cent to Rs 276.20. Shares of...

Indices end marginally lower; Sensex slips 46 points, Nifty ends at 10,302

The S&P BSE Sensex slipped 45.72 points (0.13 per cent) to end at 34,915.80, while the broader Nifty 50 settled at 10,302.10, down 10.30...

Sebi invites bids to create ‘data lake’ with analytical capabilities

Data lake is a system that stores vast amount of data in its native form at any scale. To provide 'data lake' solution, the...

Banking And Finance

RBI announces fresh OMO for sale, purchase of govt securities for Rs 10,000 crore each

The RBI undertakes ‘operation twist’ to manage yields in the bond market. In other words, the plan is to raise short-term yields and lower...

SBI report: ‘Card transactions decline 67% post-lockdown’

The total value of credit and debit cards transactions has decelerated from Rs 1.51 lakh crore in January 2020 to merely around Rs 50,000...

Bankers in India are more productive working from home

As banks and asset managers around the world try to figure out how they’ll manage their offices after the coronavirus pandemic, many in Mumbai...

RBI extends higher overnight borrowing facility of banks to September

The RBI, as a temporary measure, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 per...

IDBI Bank to sell 27% in insurance JV, Belgian firm raises stake to 49%

Ageas Insurance will hold 49 per cent in the venture while Federal Bank will have 30 per cent stake, with IDBI Bank holding the...

Govt brings co-op banks under RBI supervision for better regulation

Currently, these banks come under dual regulation of the RBI and the Registrar of Co-operative Societies, resulting in regulatory and supervisory lapses at many...

RBI directs Yes Bank not to pay interest on Upper Tier-II bonds

The bank would not be able to pay interest of 10.25 per cent on the Upper Tier-II Bonds due for payment on June 29,...

Centre not keen to fund IBA’s bad bank plan, one-time loan restructuring likely

The government’s view is that bad loan resolution should happen in a market-led way, a senior government official said. The banks demand for a...

Emergency credit: PSU banks sanction Rs 40,416 crore to MSME sector, highest in Gujarat and Tamil Nadu

Gujarat and Tamil Nadu received the highest sanctions of `4,156 crore and `4,012 crore, respectively, till June 18, according to government data. Twelve public sector...

Fall in bad loans, lower provisioning help PNB cut losses; reports Rs 2,617 cr NPA divergence

The bank has reported a divergence in non-performing assets (NPAs) at Rs 2,617 crore for the year ended March 31, 2019. Aided by a decline...

Banks sanction over Rs 1 lakh cr loans to 30 lakh MSMEs under credit guarantee scheme

The latest number on ECLGS, as released by the Finance Ministry, comprises all 12 public sector banks (PSBs), 20 private sector banks and 8...

Companies

Carlyle to acquire about 25% stake in Airtel’s data centre business for about Rs 1,780 crore

On completion of the deal, Carlyle will hold about 25 per cent stake in the business with Airtel continuing to hold the remaining stake...

Uday Shankar at E-Adda: ‘If anti-China mood persists, broadcasters must rethink’

In 2017, Star India bought the IPL broadcasting rights for Rs 16,347.50 crore in a five-year deal. The BCCI last month said it was...

China data-sharing law a key issue, banned apps get 48 hours to clarify

Chinese apps banned, Embassy spokesperson Ji Rong said his country is “seriously concerned with and firmly opposed to such action”. The Centre’s decision to ban...

NCLT reserves order on SBI plea seeking recovery of Rs 1,200 crore from Anil Ambani

The Mumbai Bench of NCLT will now decide if an RP should be appointed to make a report on the basis of which the...

HUL CMD: Govt should step in if demand doesn’t pick up

The Centre’s efforts in providing relief to the vulnerable and MSMEs, structural reforms in the agricultural sector, and increased FDI limits in defence will...
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