Industry

Ensure no power tripping in all district headquarters: UP Minister Shrikant Sharma to UPPCL

Uttar Pradesh Power Minister Shrikant Sharma on Saturday directed officials to ensure there was no power tripping in all district headquarters, including those in the National Capital Region (NCR), by

The fuel cost for Q2FY21 fell to Rs 3,161.8 crore from Rs 3,926.4 crore a year ago as electricity sales volume fell 13% annually to 12.6 billion units (BU).

Infibeam Avenues gets NCLT nod for demerger of SME E-commerce Services, marketplace biz

Fintech firm Infibeam Avenues Ltd (IAL) on Saturday said it has received approval from the National Company Law Tribunal (NCLT), Ahmedabad, for demerger of its various entities, including SME e-commer

Why traditional banks need to partner with fintech firms for delivering essential banking solutions

Many traditional banks have realised that rather than compete, it's better to collaborate and leverage the potential through collaborative strategy.

Banks are losing money everyday due to these restrictions and the same should be lifted as the need for such protection no longer existed, he argued, adding that “banks are rendered helpless against defaulting borrowers”, Salve contended.

“Big Basket lost 80 pc of workforce within 2 days of lockdown, bounced back with resilience”

The program brought together over 300 business leaders and top CEOs from nearly 30 different industries, it said.

Paytm to not charge any fee on wallet payments for merchants; move to benefit 1.70 crore users

Paytm said that its move to allow merchants to receive unlimited payments through Paytm Wallet will provide them with a single point of reconciliation for all their payments

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Baba Ramdev on board of Ruchi Soya; brother Ram Bharat to be MD

Ruchi Soya Industries Ltd in a notice to shareholders sought approval for appointment of Ram Bharat, 41, as the Managing Director of the company.

Morbi clock makers want Gujarat govt to set up toy park in town

Apart from Gujarat, states like Uttar Pradesh, Karnataka and Rajasthan are mulling dedicated toy parks. The Gujarat Industrial Development Corporation (GIDC) is already in the process of conducting a

The Gujarat Industrial Development Corporation (GIDC) is already in the process of conducting a feasibility study for such a project. (Representative image)

Let us declare NPAs, banks to Supreme Court; govt pleads against sector-specific relief

Meanwhile, the SC disposed of various petitions filed by individual borrowers who had expressed their satisfaction on the measures taken by the Centre to redress their grievances, including waiver of

Banks are losing money everyday due to these restrictions and the same should be lifted as the need for such protection no longer existed, he argued, adding that “banks are rendered helpless against defaulting borrowers”, Salve contended.

Bengaluru key growth driver, share from other markets to rise in 2-3 years: JC Sharma, vice-chairman and MD, Sobha

Volumes from markets other than Bengaluru should keep improving in the foreseeable future at a faster pace on a lower base, while Bengaluru will grow on a higher base, but at a lower pace.

JC Sharma, vice-chairman and MD, Sobha

DHFL: Lenders open to consideration of bids in the third round

Lenders have also specified evaluation mechanism for the resolution applicants who have already submitted bids in the third round and will submit bids in the fourth round as well.

DHFL’s voting resolution document further says, “On December 10, 2020, the CoC shall open all revised resolution plans received on November 17, 2020, (through any medium) by the existing PRAs as well as all resolution plans submitted on December 10, 2020.”

Manappuram Finance mulls options to raise funds via borrowings

The Kerala-based lender has reported a good growth in its gold loan portfolio, with consolidated assets under management increasing 18.6% year-on-year to Rs 26,902.73 crore.

The lender in a regulatory filing with the exchanges said the company may consider and approve issuances of debt securities during December.

Govt proposes capping surge pricing by cab aggregators like Ola & Uber at 1.5 times of base fare

"The aggregator shall be permitted to charge a fare 50 per cent lower than the base fare and a maximum surge pricing of 1.5 times the base fare," said the Motor Vehicle Aggregators Guidelines, 2020 is

Offload unsold inventories, don’t hang on to it: Union minister Hardeep Singh Puri tells builders

Puri said the finance ministry has recently relaxed income tax rules increasing differential between circle rate and transaction value to 20 per cent.

Irdai gives in-principle approval for Bharti AXA-ICICI Lombard deal

Post demerger, Bharti AXA General Insurance will cease to be a going concern and both Bharti and AXA will be public shareholders.

Lakshmi Vilas Bank becomes DBS India; 94-year old bank part of history now

The RBI had superseded LVB's board on November 17 after the private sector lender was placed under a 30-day moratorium restricting cash withdrawals at Rs 25,000 per depositor.

Besides, the shares of the bank are going to be delisted as per the Scheme of Amalgamation -- Lakshmi Vilas Bank Limited (Amalgamation with DBS Bank India Limited) Scheme, 2020.

Ratan Tata on TCS founder FC Kohli: He defined vision for ‘outstandingly successful’ TCS

He said the early vision played an important role in creating the "outstandingly successful" global IT company that TCS has become.

Tata said Kohli was driven in recent years to use technology to enable literacy to those who have not been fortunate enough to receive formal education.

Around 83 pc of Indian workforce nervous to go back to office without COVID-19 vaccine: Survey

The survey, conducted in October, found that around 86 per cent of employees in India thought the members of their team feel closer to each other now and 75 per cent thought their team worked better t

Now is the opportunity to use the insights the company has been presented with to adapt for the better, guided by the experiences of employees around the world, he added.

Adani Transmission acquires 49 per cent stake in Alipurduar

The acquisition is in sync with ATL's strategy to enhance the value for its stakeholders, through organic as well as inorganic opportunities.

ATL has acquired 49 pe cent stake, with agreement to acquire 51 per cent too, in Alipurduar Transmission Ltd pursuant to definitive agreements signed in July 2020.

Adani tops DHFL bid, says its bid gives maximum to lenders; rivals want it out of race

Four entities - Adani Group, Piramal Group, US-based asset management company Oaktree Capital Management and SC Lowy - submitted bids for DHFL in October, sources with DHFL lenders and industry said.

Adani has countered the move, writing a detailed letter to the DHFL administrator, who is overseeing the sale, saying it had originally put in an expression of interest (EoI) for both - full book and wholesale and SRA portfolio.

RBI has set precedence in LVB bond write-off, will hurt other banks: Report

During the Yes Bank rescue earlier this year also, there was an over Rs 7,000-crore bond write-off, but that involved a different instrument called additional tier-I bonds.

The RBI superseded LVB's board on November 17 after the private sector lender was placed under a 30-day moratorium restricting cash withdrawals at Rs 25,000 per depositor.

Sino-US trade war: Foxconn to shift some Apple production from China to Vietnam

Foxconn will set up a new subsidiary called FuKang Technology Co Ltd as a part of their $270 million investment to diversify production beyond China.

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SC directs govt to ensure implementation of decision to forego interest during loan moratorium period

The Supreme Court Friday directed the government to ensure that all steps be taken to implement its decision to forego interest on eight specified categories of loans paid upto Rs two crore in view of

Keeping off RCEP good for domestic steel companies, says report

In a big boost to China, 15 nations on November 15 inked the RCEP, which provides for progressively lower tariffs across many areas over the years. The RCEP is the world's biggest trade pact involving

The RCEP covers a market of 2.2 billion people and USD 26.2 trillion of global economic output and accounts for about 30 per cent of the population as well as the global economy.

Heranba Industries eyes Rs 1,200 cr revenue in FY21; to enter capital markets to raise Rs 700 cr

Agrochemical company Heranba Industries, which is planning to enter the capital markets soon, is expecting Rs 1,150-1,200 crore revenue in 2020-21 as the economic activities are improving gradually af

This country will soon start rating gadgets on their durability and repairability aspects

France has already become the first country to announce that it will introduce repairability scores to gadgets sold there from January 2021

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Xiaomi gives Redmi Note 9 Pro a major upgrade, adds 5G and whopping 108MP camera

Also tagging along are Redmi Note 9 5G and "new" Redmi Note 9 4G.

Vodafone Idea’s digital education, healthcare, wellness plan; teams up with 1mg, upGrad, Udemy, more for offers

The move would enable the telecom operator to enhance digital engagement, build a future stream of revenue and create a brand differentiation, besides positioning it as a larger platform of digital se

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