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Setback for Telcos on AGR: No relief as SC rejects review plea, asked to pay Rs 4-lakh-crore dues

Telecom operators and non-telecom PSUs together now need to pay over Rs 4-lakh-crore dues within a week.
bharti airtel, airtel News

December data: Power use shrinks for fifth month

The development takes place at a time when state-run electricity distribution companies’ (discoms') dues to power producers stood at Rs 80,930 crore at the end of November, 2019, up as much as 45% f

As such, the financial losses of discoms had jumped about 70% annually to Rs 27,000 crore in FY19. News

Under-reporting of fiscal deficit? Former Finance Secretary trashes deficit figure, defended it while in finmin

Garg said small savings schemes should be discontinued since they disrupted monetary policy transmission.

Subhash Chandra Garg, GDP for FY20, private sector, fiscal deficit, fiscal deficit goal, financial savings of households News

Trade woes: Exports contract for fifth straight month in December

Exports dropped 1.8% y-o-y in December to $27.36 billion, the fifth straight month of contraction, despite a favourable base, as external headwinds, on top of subdued domestic manufacturing, continue

But trade deficit still dropped to $11.3 billion in December from $12.1 billion in November News

No promising buyers: Jet Airways lenders working to monetise assets

The committee of creditors (CoC) to Jet Airways on Monday passed a resolution to sell one aircraft and two erstwhile slots of Jet Airways at the Schiphol airport to KLM Royal Dutch Airlines.

Jet Airways, Jet Airways netherlands, Jet Airways KLM, jet airways insolvency, jet airways klm news, jet airways klm alliance, jet airways netherlands insolvency News

Facing protests, Amazons’ Jeff Bezos offers olive branch to traders; Vows $1 billion to digitise SMEs

Amazon currently hosts over 5 lakh domestic sellers on its India marketplace while over 60,000 local manufacturers and brands are exporting their Make in India products to customers worldwide on Amazo

Amazons, Jeff Bezos, Make in India, CAIT, Amazon Wholesale, Amazon Pay News

Dollar Bonds: Drop in US yields, stable market boost India rush

Among those who have picked up money include Exim Bank of India, Manappuram Finance, Shriram Transport and Future Retail.

Dollar Bonds, US yields, Manappuram Finance, Exim Bank of India, Kishore Biyani, Future Retail, Power Finance Corporation News

Bharti Airtel raises $3 billion via QIP, FCCBs

The company needs to pay Rs 35,585 crore as AGR dues by Jan 23

Markets News

Modi magic wanes: Back to square one?

CPI inflation has trended to the levels it was at the time Modi came to power in May 2014.

P Chidambaram, CPI inflation, narendra modi, indian economy, Former finance mi News

Inflation Surge: Bond yields jump to over three-week high

In the weeks following the announcement of Operation Twist, the benchmark yield had fallen to as low as 6.503%

Inflation Surge, Bond yields, Operation Twist, RBI, onion prices, CPI inflation, December CPI inflation News

Ramnath Goenka Excellence in Journalism Awards: President Kovind to present RNG Awards next week

“Like every year, judging the winners turned out to be a difficult job. The standard of entries is very high, and the documentation is really good. It was an interesting and educative experience,”

President Ram Nath Kovind (File image) News

WhatsApp to comply with data norms for BHIM UPI-compliant payment service

India is an important market for WhatsApp, which accounts for 400 million of its total 1.5 billion users across the globe

For WhatsApp, it seems they will take a little longer as they are yet to comply. Their service should ideally be operational during the first half of this year.” News

Bharat Bond ETF: Fresh tranche of Rs 3,000-crore likely in March

The debt ETF, a move by the Centre to help the CPSEs mobilise a part of their annual borrowings in a cost-efficient manner, could have annual issuance calendars from FY21 onward, sources told FE.

Bharat Bond ETF, CPSE, CPSE debt ETF, Nifty BHARAT Bond Index, Edelweiss, CPSE bonds News

Kerala govt says CAA ‘discriminatory’; First state to move SC against Citizenship Amendment Act

Kerala has also challenged the Passport (Entry to India) Amendment Rules, 2015; Foreigners (Amendment) Order, 2015; Passport (Entry to India) Amendment Rules, 2016; and, Foreigners (Amendment) Order,

The petition was filed two weeks after the Kerala Assembly passed a resolution demanding that the new citizenship law be scrapped. News

Sebi gives India Inc. breather! Companies get two more years to split CMD post

Experts believe that the deferment announced on Monday was a bit surprising considering the regulator’s strong stand on the issue back in 2018.

The earlier directive to implement the split in the roles was done following recommendations by the Sebi-appointed Kotak committee on corporate governance. (Illustration: rohnit phore) News

Funds continue to chase internet firms! Over $10 billion raised in 2019, see 17% y-o-y jump

Total losses for a clutch of e-commerce players — Grofers, Paytm, Oyo, Delhivery, Swiggy and Zomato — rose to Rs 11,489.48 crore in FY19 compared to losses of Rs 3,257.04 in FY18, an increase of 2

Cheap data tariffs and a deluge of low-priced smartphones have empowered more customers to use services of technology companies. News

No respite from price-rise! Retail inflation spikes to over 5-year high in December

The inflation surge could spoil chances of a repo rate cut in February, even as economic growth is estimated to hit an 11-year low of 5% in FY20.

Inflation in vegetables jumped to as much as 60.5%. News

Data Analytics: Government detects 931 GST fraud cases

In the current year itself, refunds of over Rs 28,000 crore have been filed by over 27,000 taxpayers on account of an inverted duty structure, a senior tax official said.

Inverted duty structure means the final product attracts a lower GST rate while inputs are taxed at higher rates. News

Deadline extension: IndiGo has time till May 31 to replace all P&W engines

IndiGo has already placed at least one modified engine in each of its A320neo fleet, a DGCA statement said.

indigo flight emergency landing, indigo flight emergency landing today, indigo flight diverted, indigo jaipur flight diverted, indigo jaipur flight emergency landing News

Bad loans: RBI finds fault with banks’ reporting to CRILC

The study raises questions about the quality of banks’ reporting to the RBI-constituted Central Repository of Information on Large Credits (CRILC).

Banking & Finance News

No fair play? Women cricketers gain popularity but still on a sticky wicket with brands

The Indian women’s cricket team gained widespread attention when it made it to the World Cup final of One Day Internationals (ODIs) in 2017.

Women cricketers, Indian women cricket team, female cricket players, Mithali Raj, Smriti Mandhana, Harmanpreet Kaur, Rohit Sharma, Shikhar Dhawan, Smriti Mandhana, POWER, Amstrad India, ITC Vivel, Alcon Laboratories News

Discoms’ dues to power producers rise by 45% to Rs 81,000 crore

The dues include those to independent power producers (about 30% of the total) and state-run utilities such as NTPC, DVC and NHPC.

Trend contradicts govt’s claim that no new dues were created after Aug ’19 decision making LCs must for purchases News

Forex scam: No relation with Capstone Forex, says Edelweiss CEO Rashesh Shah

Shah’s statement further said, as per media reports Sanjay Nathalal Shah, chartered accountant and an independent director of few of Edelweiss Group of companies, is alleged to be connected to Capst

Rashesh Shah, chairman and CEO, Edelweiss News

Transparency matters! Sebi likely to fine-tune disclosure norms soon

The regulator is believed to be taking a relook at the regulations under the ‘Listing Obligations and Disclosure Requirements’ and is understood to be working on guidelines that clearly define mat

Sebi, Diageo, Nishat Shailesh Gupte, sebi trading case, sebi insider trading case News
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