FE Bureau

Monetary policy meet: RBI says more liquidity, cuts repo rate by 25 bps

RBI governor Shaktikanta Das said the RBI was committed to maintaining financial stability and would take whatever steps were necessary.

Monetary policy meet, RBI , NBFC, HFC, HFC, food prices, rate hikes News

Stop relying on subsidies: Piyush Goyal’s message to exporters

The minister’s comments come at a time the country is preparing to weed out most export sops as countries like the US have targeted it at the World Trade Organisation.

Piyush Goyal, subsidies, World Trade Organisation, inflexible labour norms, subsidies,  MEIS, US china, exchange rate index News

DHFL borrowings: Mutual funds stop subscription to some schemes

CARE Ratings has downgraded all of Dewan Housing Finance’s (DHFL) borrowings – worth nearly Rs 1.03 lakh crore — to default grade from BBB- and BB+, citing a recent instance of delay in servicing of obligations with res

DHFL borrowings, Mutual funds, CARE Ratings, DSP MF, BNP Paribas MF, DHFL Pramerica MF,  News

Son rises at Wipro; Azim Premji calls it a day, hands over reins to Rishad

Premji, who turns 74 next month, will however remain associated as non-executive director of the company and as founder chairman.

Azim Premji, Azim Premji to retires, Wipro, Rishad Premji, Wipro Enterprises, Wipro-GE Healthcare, NR Narayana Murthy, Indian IT industry News

Modi 2.0: PMO seeks 100-day, 5-year plans from govt departments

The government on Wednesday set up two Cabinet committees to tackle these issues on a priority basis.

Modi 2.0, Prime Minister Office, BJP, NITI Aayog, narendra modi News

Oriental Bank of Commerce says no specific merger plan now

Media reports, including FE's, had earlier suggested that OBC had floated the idea of combining with Indian Bank and Corporation Bank. 

Oriental Bank of Commerce, public sector lender, BSE filing,  Indian Bank, Corporation bank, OBC shares News

Subscription in some debt plans temporarily suspended by funds

“Investors have been provided 30 days' load-free exit period to redeem from the schemes. The 30 days' load-free exit period will expire on June 14, 2019,” said the release.

debt plans, DHFL, fixed income schemes, NAV, DHFL Pramerica MF, Tata Corporate Bond Fund, Sebi, RBI News

Private thermal power plant utilisation rises in May on election demand growth

Conventional power plants (coal, gas, nuclear and hydro) generated 111.1 billion units (BU), and private power plants seemed to have gained the most with their utilisation levels (PLF) rising by 4.8 percentage points to 61.1%

Private thermal power plant, Conventional power plants, average thermal PLF, Tata Power, Adani Power, Adani Power, renewable energy News

Toyota enters premium hatchback segment with model Glanza

Average monthly sales of premium hatchbacks, which includes cars like Baleno, Hyundai i20 and Volkswagen Polo, is around 40,000 units, with Baleno cornering nearly 28% share.

Toyota, Toyota premium hatchback segment, Toyota model Glanza, Maruti Suzuki Baleno, Hyundai i20, Volkswagen Polo, Kirloskar Motor News

NoBroker.com raises $51 million in Series C funding

Mayank Khanduja, Principal at SAIF Partners said, “With increasing digital penetration, a new creed of real estate customers has emerged in India that wants the transaction to be convenient and fast.”

NoBroker.com, Series C funding, BEENEXT, SAIF Partners, General Atlantic News

Media and entertainment industry may grow to Rs 4,51,373 crore by 2023

Subscription video on demand (SVOD) is estimated reach Rs 10,708 crore in 2023 from an estimated Rs 3,756 crore in 2018 on the back of attractive subscription rates, localised content and bundled packages, according to the re

Indian entertainment and media industry, CAGR, OTT video market, Boston Consulting Group, Amazon Prime Video , Netflix, Amazon Prime video News

Gujarat salt manufacturers facing new lease grant issues

“The salt manufacturers in Gujarat are facing problems related to approval of new leases as well as renewal of salt pan leases due to unclear guidelines. As a result of it, salt manufacturers have to depend solely on the re

Gujarat salt manufacturers, Gujarat, CSMRI, Salt Act, ISMA, salt industry,  Odisha salt News

Draft norms for ‘on-tap’ licensing of small finance banks by August end

RBI seeks to enhance supply of credit to small borrowers and encourage competition

Reserve Bank of India, Small Finance Banks, licensing of Small Finance Banks, RBI Act News

RBI governor says revised circular on resolution of stressed assets in 3-4 days

“It has taken a little more time than we had originally anticipated but it will be issued very shortly. And very shortly means in a matter of 3 or 4 days,” RBI governor Shaktikanta Das told reporters at a post-monetary po

RBI governor, Shaktikanta Das, Supreme Court, Insolvency and Bankruptcy Code, stressed assets, resolution of stressed assets News

Dovish RBI lifts bonds, yields at 18-month low

What cheered the markets was the announcement of a committee to review the liquidity management framework.

RBI, Indian bonds, CPI inflation, MPC, global markets, Banking system liquidity, ICICI Securities News

RBI waives NEFT, RTGS payment charges to promote digital transactions

The RBI has been levying charges ranging between Rs 2.5 and Rs 25 on banks for transactions routed through the NEFT system, depending on the value of the transaction.

RBI, NEFT, RTGS payment charges, digital transactions,  Nandan Nilekani,  digital payments News

RBI pushes for retail participation in state development loans

Treasurers believe there although retail participation in SDLs is a welcome move, it wont have much effect unless these instruments pay higher returns than standard savings products.

Reserve Bank of India,  retail participation, state development loans, sovereign bonds, Indian debt markets News

Take 5: Ashish Mishra, Managing Director, Interbrand India

The Collected Poems by Sylvia Plath. Have always loved her poems for their intensity. After this, I will pick up the social sensation Rupi Kaur’s book

Take 5, Ashish Mishra, Managing Director, Interbrand India News

Around the world: Amazon to open pop-up shops in the UK

The e-commerce giant is expected to open 10 pop-up shops selling everything from food and drinks, to electronics, beauty products and homewares.

Industry News

Modi govt forms two cabinet committees to bolster employment, economic growth

The five-member Cabinet Committee on Investment and Growth includes Amit Shah, Nirmala Sitharaman, road and MSME minister Nitin Gadkari and Piyush Goyal.

Modi govt,  Narendra Modi,  Narendra Modi Cabinet committees, BJP, Piyush Goyal, Amit Shah, Nirmala Sitharaman, Dharmendra Pradhan, Narendra Singh Tomar News

PMI survey: Services sector growth hits 1-year trough in May

Inflows of new business orders at service providers rose at the slowest pace in eight months.

PMI survey, Services sector growth, Nikkei India Services Business Activity Index, IHS Markit, GDP growth, manufacturing industry News

DHFL’s commercial paper rating downgraded to default by Crisil, Icra

The lender’s total borrowings, including deposits, loans from NHB, banks and the debt markets, stood at Rs 1 lakh crore at the end of December 2018, according to a company presentation.

DHFL, DHFL commercial paper rating, Crisil, Icra, non convertible debentures, Mutual fund houses News

Gujarat launches pilot of unique emission trading scheme

The scheme wouldn't change or remove any existing legal and regulatory requirement for industries to meet the prescribed concentration standards for particulate emissions.

emission trading scheme, Emission Trading Scheme, ETS-PM, Gujarat government, GPCB, Vibrant Gujarat Summit  News

Indian Bank opposes merger with OBC, says has well-laid out plan for 3 years

Banking sources had told FE that OBC had sought the finance ministry's approval to combine with Indian Bank and Corporation Bank.

Oriental Bank of Commerce,  Indian Bank and Corporation Bank, OBC shares, Prompt Corrective Action, BSE,Corporation Bank News

Major setback to NHAI: Delhi HC directs it to pay Rs 142 crore to JV

Pursuant to the HC’s directions, the NHAI had deposited the award money in the court on January 25.

NHAI, Delhi High Court, PNC Infratech, PNC-BEL JV, Uttar Pradesh News

Delhi International Airport’s loss at Rs 112 crore in 2018-19

Aero revenues, which include passenger service fee, landing and parking charges for airlines, were down 42% year-on-year to Rs 987.8 crore due to low airport tariffs for the ongoing control period — a five-year period for w

Delhi International Airport, Delhi International Airport revenue, DIAL, GMR Infra subsidiary, Ebitda, GMR group, Indira Gandhi International airport News

Greener future: JLR in pact with BMW to develop electric vehicle technology

The companies will jointly invest in research & development, engineering and procurement, which will provide the necessary economies of scale to support increased consumer adoption of electric vehicles

Tata Motors, Jaguar Land Rover, BMW Group, electric vehicle technology, BMW Group, Nick Rogers News
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