FE Bureau

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21072 Articles

Modi govt expects to meet 1.2 crore houses target under PMAY

Speaking to reporters on sidelines of the event, he said there are around 48-50 lakh houses which are currently grounded (construction starting), but this number will also rise to 75 lakh.

house, PMAY, Pradhan Mantri Awas Yojana, Awas Yojana, MoHUA, economy news, National Real Estate Development Council News

UBI: Current DHFL resolution plan best under circumstances

The resolution process in the case of DHFL is a complex one as it is the first financial company being resolved under the RBI’s June 7 circular and there are multiple categories of creditors involved — banks, insurance co

UBI, DHFL, DHFL resolution, DHFL share, DHFL  news, DHFL nse, industry news, Ficci, Union Bank of India News

General insurers report 13 pct premium growth in April-July

Among the 25 general insurers, New India Assurance, Bajaj Allianz General Insurance, SBI General Insurance and Tata AIG General Insurance, among others, saw a positive growth in the April-July period, showed the data from Ins

General insurer, insurance company,  New India Assurance, Bajaj Allianz General Insurance, SBI General Insurance, Tata AIG General Insurance, industry news, ICICI Lombard  News

Mahindra Finance to acquire a majority stake in Lankan firm

The joint venture will capitalise on Mahindra Finance’s expertise in financial services and Ideal Finance’s domestic market knowledge to build a market leading financial services business in Sri Lanka.

Mahindra Finance, Lankan firm, industry news, Ideal Finance, IFL, Mahindra & Mahindra News

Painless taxation: DTC panel proposes cut in income tax, corporation tax

The report and the draft law also contain suggestions on inter alia faceless assessment, litigation management, process simplification and sharing of information among the GST department, Customs, CBDT and Financial Intellige

Government, tax panel, income tax, lower corporation tax, tax cut, DTC, DDT, Nirmala Sitharaman, Akhilesh Ranjan,Financial Intelligence Unit, FIU News

Cheaper loans: RBI Governor Shaktikanta Das for linking lending rates to repo

The RBI governor was speaking at Fibac 2019, an annual event organised by the Federation of Indian Chambers of Commerce & Industry (Ficci) and Indian Banks’ Association (IBA).

More transmission, RBI, repo rate, loan rate, Shaktikanta Das,NBFC, economy news, rbi, IBA, ficci News

FM Nirmala Sitharaman promises cut in corporate income tax to 25%

As part of this drive, she visited Ahmedabad on August 16 and is planning to go to Varanasi next.  The Budget lowered the tax rate to 25% for all companies having an annual turnover of up to Rs 400 crore, instead of Rs 250 c

Tax, Tax compliance, industry, revenue, Direct Tax Code, tax GDP ratio, GDP, tax revenue, CSR, financial express, financial express editorial News

Monnet Ispat: NCLAT rules against operational creditors

A plea filed by Industrial Financial Corporation of India (IFCI), a financial creditor, against treating of its secured loans as unsecured debt was also dismissed by the NCLAT. Monnet Ispat owes IFCI around Rs 158 crore.

Monnet Ispat, NCLAT, operational creditors, IFCI, industry news

NTPC to set up 5,000-MW ultra mega solar park in Gujarat, Rajasthan

NTPC is likely to sell around 60-70% of power produced on merchant sale basis and keep only around 30% on PPA basis to begin with, the company management told analysts in a meet. The UMSP comes after the not so successful la

NTPC, ultra mega solar park, Gujarat, Rajasthan, NTPC share, industry news, solar power News

Ex-auditor Deloitte Haskins moves NCLAT against NCLT order

The NCLAT is likely to hear the pleas on Tuesday. The Mumbai bench of NCLT had on August 9 dismissed the plea made by the former auditors of IL&FS group challenging the tribunal’s jurisdiction to ban them under Section 140

risk, opportunity, multiple outcome, personal finance, money, bank, market, growth  News

Brickwork downgrades Essel Group’s NCDs worth Rs 425 crores to ‘BBB-‘

Zee Entertainment Enterprises (ZEEL) promoters informed the stock exchanges on July 31, 2019, that Invesco Oppenheimer Developing Markets Fund (IODMF; existing investor in ZEEL for 7.74% stake) has agreed to buy up to 11% sta

Brickwork, Essel Group, NCD, BBB-, rating, industry news, ZEEL, Zee Entertainment Enterprises News

Ravinder Takkar takes over as Vodafone Idea new MD-CEO, Balesh Sharma calls it quits

Vodafone Idea’s financials remain stretched as the benefits of a merger are yet to flow through at the financial level. The company’s total debt/ Ebitda stands at 27.41x as of March 2019.

Ravinder Takkar, Vodafone Idea, MD, CEO, Balesh Sharma, industry news, VIL,Indian telecom industry News

Coal ministry panel approves fuel supply to Tamil Nadu power plants

Although the North Chennai unit was originally scheduled to be commissioned in December 2019, it is now expected to be ready only by March 2020.

Coal ministry, Coal ministry panel, Tamil Nadu power plant, power, economy news, Thermal Power Project, Khagra mine, NTPC News

WhatsApp issue: Facebook moves SC for transfer of four petitions

Senior counsel Mukul Rohatgi, appearing for Facebook, argued that this mandatory linking of Aadhar or any other government authorised identity proof is also contrary to the principles set forth by the Constitution Bench in th

WhatsApp,WhatsApp issue, Facebook, SC, petition, Aadhar, industry news, supreme court, WhatsApp traceability issue, social media News

Reliance Jio adds 8.26 million users in June; Vodafone Idea, Airtel face churn

Vodafone Idea and Bharti Airtel have been losing subscribers ever since the companies announced minimum recharge plan of Rs 35 every month.

Vodafone Idea, Airtel, Reliance Jio, subscriber base, Trai, BSNL ,  mtnl News

Cut taxes to reduce entrepreneurs’ burden: Kotak Mahindra AMC MD Nilesh Shah

Our market is currently compartmentalised in four parts. Super large-caps are trading above their historical average. Large-caps are trading around their historical average.

 tax cut, entrepreneur, Kotak Mahindra, AMC MD, Nilesh Shah, economy, economy news, PMS, SIP, banking news,  News

Plan to charge zero MDR for large merchants is faulty, says expert

Finance minister Nirmala Sitharaman in the FY20 Budget abolished MDR charges for all merchants having a turnover of over Rs 50 crore which would lead the payment companies taking a hit on their margins.

zero MDR, MDR, VISA, FIBAC, IBA, Indian Banks’ Association, economy news

Bankers see opportunity in MSMEs – here’s how

The extent to which banks are using data to lend to SMEs can grow dramatically as almost every bank is working towards this initiative as there is a big opportunity, said the SBI chairman.

Banker, MSME, banking news, industry news, sme News

Easy loans: Banks to sanction retail loans through portal

Industry members claim that the turnaround time after loan sanctions through the portal has been long. In a meeting with finance minister Nirmala Sitharaman earlier this month, an industry association raised a complaint to th

PSB, exercise, bank, operations,  India, MSME, agriculture credit, export credit, industry news, banking news

Govt, RBI done all that they could for NBFCs: SBI chief Rajnish Kumar

There is nothing further the government can do, Kumar said, adding that there is liquidity, partial credit enhancement and interest rates have moderated. Asked about the progress made in the resolution of stressed NBFC Dewan

Government, RBI, NBFC, SBI chief, Rajnish Kumar, banking news, industry news, Reserve Bank of India, RBI,  NBFC sector News

Rains put price pressure on Kerala’s banana, veggie exports

Banana accounts for as much as 60-65% of the green exports from Kerala and the rest are vegetables. Of the banana varieties, nenthran plantain leads the food preferences of Kerala’s 20 lakh diaspora families fanning out in

Rain, price pressure, Kerala, banana, veggie, export, import, economy news

Gujarat textile units want cap on solar machinery be raised

Under the Solar Energy Credit initiative, an integral part of the scheme, the central government is providing a subsidy of 50% to power loom units having maximum eight looms for adopting solar energy for captive use either in

Gujarat textile unit, solar power, Gujarat, textile industry News

Weak exports, uncompetitive prices to hit cotton spinners, says report

With India exporting roughly one-third of its cotton yarn production every year, trends in export demand play a crucial role in determining the overall performance of the domestic spinning sector. 

Weak export, cotton spinner, economy news, export, import, cotton, cotton yarn export, cotton yarn, domestic market News

PSU banks launch joint plan to boost economic growth

There are eight specific areas in which these banks are expected to focus, which include credit growth, infrastructure financing, financial inclusion, digital transactions and CSR activities, among others.

PSB, exercise, bank, operations,  India, MSME, agriculture credit, export credit, industry news, banking news

Google Files: clean up space on your phone

Files was built for people with low phone storage, many of whom live in places like India, Nigeria and Brazil and often run out of space on a daily basis.

Google Files, clean up space, clean up space phone, tech news, Google, industry news

Demonetisation: Income tax department to make checklists to classify suspicious cases

The verification checklist aims to break down thousands of such cases into a few categories, the Central Board of Direct Taxes (CBDT) said in a letter to zonal chiefs.

In March, CBDT had asked senior I-T officials to go after over 87,000 people who were yet to file I-T returns in response to the notices issued to them. News

TVS Motors Singapore arm buys stake in Predictronics

Earlier in April, TVS' Singapore arm picked up little over 14% stake in the US-based Altizon, an industrial IoT company, for an investment of $25,00,000.

Predictronics is the third such company in the US, where TVS Motor’s Singapore subsidiary invests for a considerable stake News