Business Blogs News - Page 26

IndiGo promoter feud: Rahul Bhatia, InterGlobe Enterprises seek arbitration proceedings in London

InterGlobe Aviation is the parent of IndiGo, the country's largest airline in terms of domestic market share

Core sector growth in negative zone for first time in 4 years: Economy is slowing, but here are four ways government can arrest slowdown

There is a likelihood that there will be some revival in the consumer spending in the next two months on account of the festive season demand, which could offer some relief to the economy.

Ahead of Assembly elections, 12th tranche of electoral bonds to be issued from today

Electoral bonds are being pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding

PMC Bank crisis: Economic Offences Wing files case against bank management, promoters of HDIL; SIT to probe case

The bank, which has 137 branches and over Rs 11,000 crore in deposits, has been put under restrictions since last week after the RBI discovered certain financial irregularities in the functioning of the multi-state lender.

Index of 8 core industries for August shrink, RBI bonanza keeps fiscal deficit in check; all this and more in Moneycontrol Pro

The index of eight core industries for August 2019 fell by 0.47 percent from a year ago

Sensex rebounds 250 points, Nifty above 11,500 in early trade; bank, auto, infra stocks among major gainers

Sensex recovered 250.06 points or 0.65% to trade at 38,917.39, while the broader Nifty was up 69.30 points or 0.60% at 11,543.75 in opening trade

In a first, Anil Ambani threatened with class action suit at AGM after massive erosion of wealth, frequent rating downgrades irk shareholders

"If I do not get satisfactory replies to my questions, in the next two-three months I will file a class action suit against RPower," a shareholder warned Anil Ambani.

PMC Bank saw massive cash withdrawals before RBI clamp down; some large depositors got whiff of whistleblower complaint: Report

The whistleblower report has detailed the massive misreporting of NPAs by PMC Bank, primarily because of its huge exposure to crippled developer HDIL that owes around Rs 6,500 crore to the bank

Core sector output growth declines to 45-month low of 0.5% in August; coal, crude oil, cement among major industries worst hit

During April-August, growth in the eight core industries grew by 2.4 percent from 5.7 percent in the year-ago period

Lasalgaon onion producers refuse to sell produce in wholesale market; prices down post-ban on exports, govt imposing stock limit on traders

The wholesale price of onions have fallen down to Rs 3,400 to Rs 3,200 per quintal in Lasalgaon, the largest wholesale market for onions in the country

Low-price fashion chain Forever 21 files for bankruptcy; to close up to 178 international stores

Forever 21 joins Barneys New York and Diesel USA in a growing list of retailers seeking bankruptcy protection as they battle online competitors

DHFL lenders led by State Bank of India expected to complete debt resolution plan quickly

DHFL said, the company, in the past 12 months has repaid obligations of nearly Rs 45,000 crore, which is nearly 40 percent of its current balance sheet size.

Sensex tumbles over 310 points, Nifty slips below 11,500-mark; Yes Bank, IndusInd Bank, Tata Steel among top losers

Sensex plunged over 310 points in opening trade on Monday due to sell-offs mainly in financial, metal and auto stocks amid subdued global cues

In a first, RCom AGM to be chaired by resolution professional today; firms in diversified group to hold their AGMs

RCom itself sought bankruptcy early February after its efforts to sell spectrum to Reliance Jio failed due to regulatory delays

China September factory activity shrinks for fifth straight month; analysts expect growth could slow further this quarter

China's manufacturing sector has done poorly in recent months due to weak domestic demand and higher trade tariffs

We need builders to build new India; HDFC keen to contribute to govt's Rs 20k cr realty fund, says Deepak Parekh

The government fund will help good developers finish their pending projects, which are non-NPA and non-NCLT, said HDFC's Deepak Parekh.

Govt may seek Rs 30,000 cr interim dividend from RBI to meet fiscal deficit target for 2019-20; last fiscal central bank paid Rs 28,000 cr

Apart from the RBI dividend, there are other means of bridging any shortfall, including mop-up from disinvestment and higher utilisation of National Small Saving Fund.

Saudi Arabia eyes long-term partnership with India; to invest $100 bn in petrochemicals, infra, mining

Saudi Arabia is a key pillar of India's energy security, being a source of 17 percent or more of crude oil and 32 percent of LPG requirements of India

PMC Bank's actual exposure to HDIL at over Rs 6,500 cr or 73% of total loan book, says suspended MD Thomas in letter to RBI

In the confession letter, Thomas also put the actual NPA number at 60-70 percent as against a reported net NPA of 2.19 percent as of 31 March 2019, the source said.

PMC Bank crisis: RBI had recommended removal of chairman Waryam Singh in 2018, says report

According to the source, of the Rs 8,880-crore loan book (as of 19 September 2019) that PMC Bank had, more than Rs 6,500 crore or over 73 percent of the assets are with the bankrupt HDIL group only.

To boost economic growth from 6-year low, govt asks PSUs to clear vendor, contractor dues by 15 October

PSUs have been asked to detail lifespan of arbitrations that lock payments after disputes with vendors and contractors

RBI places Lakshmi Vilas Bank under prompt corrective action; directors probed for alleged fraud

The Lakshmi Vilas Bank on Saturday received shareholders' approval to raise up to Rs 1,000 crore by issuance of securities

Retail sector cannot grow with protectionism, says BS Nagesh; asks offline retailers to use Internet to widen reach

There is access to 120 million consumers and reach across the country, which offline retailers must use, BS Nagesh said

RBI move caused lot of harm to depositors; could have managed the situation better, says suspended PMC Bank MD

The now-suspended management did not report the matter to the board that its largest customer has been an NPA from the past two-three years

RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line

If there was an expectation that the new repo-rate linked loan rate-setting mechanism will lower the EMI burden on borrowers, it has been proved wrong.

Paytm appoints Abhinav Kumar as Vice President-Product Marketing; will contribute to firm's next stage of growth, says Trivago posterboy

Also known as ‘Trivago Guy’ on social media, Abhinav is a digital marketing strategist and expert

Narendra Modi best person to bring about change, but it can’t be at pace people expect, says economist Jagdish Bhagwati