FE Bureau

Mahindra Finance to raise up to Rs 3,500 crore via NCDs

On being asked about the effects of higher borrowing costs due to recent liquidity crisis faced by non-banking finance companies (NBFCs), Ramesh Iyer.

Markets News

RRBs under PNB undergoing amalgamation

The idea behind the merger is to have a strong PSU bank as the sponsor for these banks so that not only can their capital adequacy be increased but also their expansion can be fast-tracked.

Markets News

Economy on track: Industrial credit growth highest in three years

“The capital infusion program and commentary suggests that the focus is also to have more public banks out of the PCA (prompt corrective action) framework and ensure that lending is not constrained by these factors,” the

Markets News

Dena Bank, Vijaya Bank tumble on share-swap ratio announcement

Having said that, we do expect some accelerated recognition to push up credit costs in the next few quarters,” added Nomura.

Markets News

Doubling farmers’ income: Dalwai committee empowered to oversee implementation

The government has asked the Ashok Dalwai committee to oversee the implementation of its recommendations so that the promise of doubling farmers’ income is achieved by 2022.

Markets News

Good news on economy front: December manufacturing clocks solid growth

Meanwhile, job creation weakened, with companies perhaps cautious about making hiring decisions ahead of next year’s elections and a less upbeat optimism towards the outlook, said Pollyanna De Lima, principal economist at

Industry News

Rs 600-crore sops for exporters; nod for 3-way bank merger and other key takeaways from CCEA meet

The cabinet also approved a scheme for the proposed amalgamation of Bank of Baroda (BoB), Vijaya Bank and Dena Bank to create the country’s second-largest public sector lender (after SBI).

Economy News

Headwinds for Jet: Icra further downgrades airline’s rating

Jet Airways shares on Wednesday fell over 6% to close at Rs 263.75 on the BSE.

Industry News

Oman Air, Go Air pitch for Gulf segment flights from Kannur

Oman Air and Go Air have initiated discussions on connecting Kannur and Gulf by air, since North Kerala, Mysore and Coorg witness a large number of expats travelling to and from GCC countries.

Industry News

HC stays ban on online pharma sales

The same division bench had on December 20 provided temporary relief to online pharma companies by suspending the ban while hearing an appeal filed by a clutch of online pharma companies.

Industry News

Tamil Nadu pollution control board rejects Vedanta’s plea for consent to operate

Such action plan and progress achieved in implementation of said plan may also be uploaded on the said website for the purpose of dissemination,” NGT said in the order.

Industry News

Bank MCLR sees upward spike amid slower deposit growth

Top banks including SBI, HDFC Bank and ICICI Bank have hiked MCLR by 5-10 basis points in December. ICICI bank and PNB left its MCLR rates unchanged as on January 1 2019.

Markets News

PNB Housing Finance raises $265 million through ECBs

Apart from CPs, all the other fresh borrowings in this quarter are of long term in nature, thereby helping the Company in further strengthening the ALM profile,” said Sanjaya Gupta, MD & CEO, PNB Housing Finance.

Markets News

Eicher Motors shares decline over 9% on weak December sales

According to Motilal Oswal, while the company’s sales were affected by external factors starting July 2018, this was the first month when no such factor was at play.

Industry News

OMCs stop taking Rs 1/litre hit due to subsidy on fuel

Excise revenue from petro products fell 5.6% on-year in FY18 to `2.29 lakh cr due to `2 cut in excise duty on auto fuels in Oct, 2017.

Industry News

Revving up: Carmakers expect turnaround in fourth quarter after tepid festive season

The company posted a 27% y-o-y decline in M&HCV segment and 5% y-o-y dip in light vehicles segment.

Industry News

BigBasket’s wholesale arm reports 34.54% revenue jump in FY18

The company’s revenue from operations stood at `1,583.15 crore in FY18 against Rs 1,176.66 crore recorded in FY17.

Industry News

Rafale verdict: Yashwant Sinha, Arun Shourie move Supreme Court seeking review

It also alleged that the Centre had “blatantly misled” the court and the “court has grossly erred in placing reliance on false averments in the note not even supported by an affidavit”.

India News

Reduction in import duty will hit domestic oil palm cultivation: SEA

However, this concession is not available to palmolein coming from Indonesia or any other Asean nation.

Markets News

Booster shot for MSMEs: RBI allows one-time recast of standard accounts

The Narendra Modi government is keen to salvage the crisis in the MSME sector.

Industry News

PMJAY Ayushman Bharat: Nearly 7 lakh provided treatment in first 100 days

NHA plans to issue about five crore beneficiary cards to inform people and generate hospitalisation demand from rural population.

Economy News

GST revenue drops: Collections at Rs 94,726 crore in December

We should also expect more enforcement and investigations cases in next few months.”

Economy News

Ola to raise Rs 14 crore via preference shares to Eternal Yield International

The company, which raised over $1.1 billion in 2017 from China’s Tencent Holdings and SoftBank, said it was in talks to raise another $1 billion from existing and new investors.

Industry News

On a slippery road: Car sales decline in December despite hefty discounts

Royal Enfield reported a 13% year-on-year decline in wholesale volumes in December.

Industry News

Hemant Bhargava appointed LIC interim chairman

Life Insurance Corporation of India (LIC) on Tuesday gave Hemant Bhargava additional charge as chairman. The announcement to appoint Bhargava, who is currently a managing director, comes after the retirement of VK Sharma on D

Markets News

Cashless India: Monthly UPI transactions cross Rs 1 lakh crore in December

If the upgraded version of UPI is able to meet its stated goals, there is a possibility that more offline merchants may switch to UPI-based payments from POS machines.

Markets News

Future tense: Will 2019 Lok Sabha polls stall Indian economy’s forward march?

While softer crude could correct macro imbalances, growth impulses not strong enough to jumpstart the economy; politics a risk factor too.

Economy News
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