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Sunday, May 24, 2020

Asim Dasgupta: ‘We have to move away from market-based solution to giving a welfare role to the government’

May 25, 2020 2:10:31 am

In a situation where there’s inadequate demand, the need is to increase the demand itself. It will not lead to inflation but will help recover the economy.

Irdai to extend renewal dates of health, motor third-party policies

May 25, 2020 2:01:07 am

Irdai’s forthcoming decision will also include its stand on the continuation of cover, Standard Fire and Special Perils Policy (commonly known as property policy) by the general insurers to the “unoccupied properties” for more than one month.

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FPI flow to equity turns positive; debt outflows of Rs 19.8K crore in May

May 25, 2020 1:58:49 am

Debt markets have witnessed FPI outflows of Rs 19,892 crore in May so far, taking the total FPI outflows from debt to Rs 1,02,371 crore in the January-May period.

Sluggish growth in bank credit to industry since FY16, micro & small sectors worst hit

May 25, 2020 1:56:59 am

While the government last week announced a credit guarantee scheme for bank lending to the MSME sector and others, data shows that micro and small industries have, over the last four years, witnessed an even slower credit expansion.

CII cautions cos not to violate Competition Act amid COVID crisis

May 25, 2020 2:12:48 am

Ordinarily, companies are not allowed to collaborate as concerted actions between competitors are presumed to cause an appreciable adverse effect on competition.

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IBM is latest tech giant to lay off employees in midst of Covid-19 pandemic

May 24, 2020 4:45:31 pm

Based on a review of IBM internal communications on the Slack corporate messaging service, the number of affected employees is likely to be in the thousands, said a North Carolina-based worker who lost his job along with his entire team of 12.

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Reliance estimates 200-400 million dollar liability in KG-D6 cost recovery dispute

May 24, 2020 11:01:02 am

Natural gas output from Dhirubhai-1 and 3 gas fields in the KG-D6 block in the Bay of Bengal started to lag company projections from the second year of production itself in 2010 and the field ceased to produce in February this year much ahead of its projected life.

‘I am confident migrant labourers will return but we need to create confidence in their minds’

Nitin Gadkari: I am confident migrant labourers will return but we need to create confidence in their minds

May 24, 2020 9:15:57 am

In an e-Adda hosted by The Indian Express, Nitin Gadkari, Union Minister of Road, Transport & Highways and MSME, spoke on clearance of dues to MSMEs, how to get demand back in the market and restarting industry.

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Essel Infra defaulted on bonds: Franklin Templeton MF

May 24, 2020 1:15:16 am

The fund house said four of its fixed income schemes have invested in zero per cent Essel Infra Series 1 and zero per cent Essel Infra Series 2, which matured on May 22, 2020.

States compete to bring in sweeping changes to labour laws, ‘competition to attract capital’, say analysts

States compete to bring in sweeping changes to labour laws, ‘competition to attract capital’, say analysts

May 24, 2020 8:13:44 am

A blanket suspension of labour laws, as has been in the case of UP, however, may not find favour, with the Centre leaning towards putting caveats in order to protect the rights of bonded labour, children and women.

Hopeful of starting good percentage of international ops before Aug-Sept: Hardeep Puri

May 24, 2020 12:58:23 am

A senior government official, on condition of anonymity, said that the Civil Aviation Ministry has been monitoring the situation in countries like the US, the UK, Italy, the UAE, Singapore, Thailand, etc to assess whether it will be safe to resume commercial operations to these destinations.

Future actions to stimulate economy will depend on how COVID crisis pans out: FM

May 23, 2020 7:34:30 pm

The government has already announced a Rs 20.97 lakh crore economic package, which includes Reserve Bank's Rs 8.01 lakh crore worth of liquidity measures till May 17.

Bombay HC allows Air India pilot to challenge new rule that does not mandate vacant seat between two passengers

HC allows Air India pilot to challenge new rule that does not mandate vacant middle seat

May 23, 2020 5:36:29 pm

The plea, filed by Commander Deven Kanani, stated that during the Vande Bharat Mission flights, Air India did not maintain physical distancing norms and filled all seats, endangering lives of the passengers.

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Canara Bank announces credit support for borrowers affected by COVID

May 23, 2020 11:28:51 am

Canara Bank's MD and CEO, L V Prabhakar, said: We are sure that once the lockdown is completely lifted, our customers would be able to avail the sanctioned facilities to the full extent and improve their business.

Hertz Files for Bankruptcy After Rental-Car Demand Vanishes

Hertz files for bankruptcy after rental-car demand vanishes

May 23, 2020 10:23:38 am

After the coronavirus pandemic decimated revenue, the car renter sought relief from lenders and a bailout from the U.S. Treasury Department.

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Atmanirbhar Bharat: PSBs asked to implement measures for each sector

May 23, 2020 6:45:19 am

In order to push credit into the economy, the government has also clarified to bankers that no action will be taken against them for commercial decisions gone wrong.

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‘Health may emerge as basic need along with food, shelter in post-Covid world’: Nielsen

May 23, 2020 2:25:31 am

In the survey, most respondents said that they would gravitate towards familiar products in a post-COVID-19 world; about 66 per cent would hold on to money rather than going ahead with their plan to buy new items.

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KKR to buy 2.32% stake in Jio Platforms for Rs 11,367 crore

May 23, 2020 2:13:15 am

The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

CBDT announces postings of 14 Principal Chief Commissioners of I-T

CBDT: Rs 26,242 crore of I-T refunds released till May 21 this fiscal

May 23, 2020 2:10:01 am

The amount includes corporate tax refunds of Rs 11,610 crore to over one lakh taxpayers and Rs 14,632 crore to 15.8 lakh assessees from other categories, including salaried individuals.

Amid worries over high level of pulses inflation, RBI Guv calls for re-appraisal of import duties

May 23, 2020 2:01:50 am

Food inflation — which had eased in February and March — had “suddenly reversed” and surged 8.6 per cent in April “as supply disruptions took their toll immune to the ongoing demand compression”, said Shaktikant Das.