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Government to decide on Subhash Chandra Garg’s successor, panel to meet again: Bimal Jalan

FE had reported last week that although the Jalan panel’s report was being edited after recommendations were finalised in its last meeting on July 17, it might seek views of the finance ministry aga

Economy News

Uday scheme: Discoms’ losses rise 89% in FY19

Power min data shows losses last fiscal were Rs 28,369 crore, reversing declining trend in previous two fiscals.

Economy News

Cheaper loans: SBI hints at rate cut as it trims interest on deposits

State Bank of India (SBI) on Monday cut interest rates on bulk and retail term deposits, signalling it could soon make credit cheaper for borrowers.

G-Secs, T-Bills News

Ground realty: Investors in property funds need to wait

Unable to exit from investments, a clutch of real estate funds has been informing investors the tenure of the schemes would be extended by a year.

Industry News

Hyundai Motor India dealers feel squeeze as loan norms tightened

Come October, some dealers of Hyundai Motor India may need to furnish collateral of anywhere between 25% and 50% of the loan amount taken from State Bank of India, depending upon the lender’s intern

Industry News

Q1 results: India Inc under pressure as revenue growth remains sluggish, margins shrink

Managements are cautious and don’t expect an upturn soon

Q1 results, India Inc, India Inc P&L account, Revenue growth, TCS, Reliance Industries, telecom sector, Vodafone Idea, FMCG firm News

Big relief for foreign firms! Govt panel says no need to mirror personal data in India

Dilution of Srikrishna panel recommendations which had said firms need to store a copy locally

foreign firms, personal data, Srikrishna panel, data localisation, personal data, NITI Aayog, financial data, Amazon, American Express, amstercard, Paypal, European Union News

Number crunching: Actual fiscal deficit in FY19 was 6.1 per cent

Budget 2019 India: So, as many experts have pointed out, there is actually upward spiral in the general government deficit, while the official line is that the prescribed glide path is being adhered t

fiscal deficit, fiscal deficit in FY19, GDP, CAG, NHAI, SC Garg, oil PSUs, fiscal targets, economy news

Real estate crisis: Homebuyers stay away, builders left with big inventory

Experts at Liases Foras put the average cost of an apartment at Rs 60 lakh, but in cities such as Mumbai, Delhi or even Bengaluru, it is well above this.

Real estate crisis, real estate, Homebuyers, Liases Foras, luxury apartments in Mumbai, ANAROCK Property, Bengauluru, New Delhi News

Power-less: More transmission towers collapse as winds turn ferocious

A senior PGCIL official told FE that “upgrading all 2.75 lakh existing towers of the company based on the probabilities of high-wind events warrants significant due diligence”. 

Power less, transmission towers collapse, power transmission sector, electricity transmission towers, Power Grid Corporation, Essel Infra, L&T, Adani Transmission News

GST Council meet: Electric vehicles get push despite crisis in auto sector

GST rate on EVs cut to 5% from 12%; tax on EV chargers down from 18% to 5%

GST Council meet, Electric vehicles, auto sector crisis, gst cut rates on electric vehicles, hybrid vehicles, ICE vehicles, Nirmala Sitharaman News

ICICI Bank posts Rs 1908 crore profit in Q1

NII is the difference between interest earned and interest expended.

ICICI Bank, ICICI Bank Q1 profit, ICICI Bank gross NPA ratio, CASA deposits, Basel III norms News

Will not allow any monopoly: Ravi Shankar Prasad tells telecom CEOs

On his part, Prasad, while informing them that he’s already seized of the matter and has formed a committee under the department of telecommunications secretary to look into the matter, asking them

Ravi Shankar Prasad, telecom CEO, finance ministry, Bharti Airtel, Reliance Jio, BSNL, Vodafone Idea, telecom operators, 5G innovation News

Brand matters: How Hima Das is an alternative to over-exposed cricketers

l Sprint runner Hima Das is the latest sports star who is a brand’s alternative to over-exposed cricketers

Industry News

Vodafone Idea loss widens to Rs 4,908 crore in Q1

High-Arpu customers downtrading to lower packs, lower-paying users not recharging

Telecom sector, Vodafone Idea, Vodafone Idea Q1 result, Vodafone Idea loss, Balesh Sharma, ‘service validity vouchers, Ebitda News

Offshore sovereign bond plan under review amid calls for caution

New DEA secretary set to re-examine proposal, hold talks with RBI and brief PMO

Atanu Chakraborty, finance ministry, department of economic affairs, Subhash Chandra Garg, foreign investors, offshore sovereign bonds News

Maruti’s net profit falls 27.32% in Q1

Revenue from operations fell 12.19% y-o-y to Rs 19,719.8 crore, though realisations were better.

Auto sector, Maruti Q1 net profit, Maruti Suzuki, Ajay Seth, Maruti ebitda, Maruti stock, BSE, Retail sales News

WhatsApp told to trace origin of mischievous messages

“I have conveyed to them that traceability shall be their job. A mechanism should be developed by them and the request for that will also come from appropriately high level so that there is no tinke

Ravi Shankar Prasad, WhatsApp, WhatsApp global head, Will Cathcart, Telecom and IT minister, latest news on whatsapp News

DHFL exposure: MFs refuse to take out of turn haircut

In this case, lenders do not wish to give a haircut to the Employees’ Provident Fund Organisation, PF Trust and retail investors.

DHFL exposure, DHFL resolution plan, equity shareholders, Tier II bond holders, EPFO, retail investors, SBI Caps News

DHFL to soon submit proposed plan to all lenders

The cash-strapped home loan financier has a cumulative debt of Rs 1 lakh crore, of which it owes Rs 38,000 crore to banks and Rs 34,000 crore to bondholders.

DHFL, DHFL resolution plan, DHFL via NCD, RBI, SBI Caps, Companies Act, Reserve Bank of India News

Amazon seeks stable e-commerce policy

It also disallowed them from asking a seller to sell any product exclusively on their platforms.

Amazon, ecommerce policy, cross border data flows, FDI policy, Cloudtail, ecommerce sector, Amazon Prime, flipkart News

PPAs for renewables: Andhra Pradesh move to hit sector’s growth, RK Singh tells Amit Shah

The copy of the letter, reviewed by FE, warned that “if this is not corrected, the FDI will stop coming, the banks will stop financing, and the growth in the renewable energy sector will come to a h

PPA for renewables, Andhra Pradesh government, RK Singh, Amit Shah, FDI in renewable energy sector, YS Jaganmohan Reddy, AP discoms News

Subhash Chandra Garg’s exit may delay Jalan panel report, offshore bond plan

Panel may seek opinion of new DEA secy; Garg opts for VRS after Oct 31

Economy News

Tata Motors posts Rs 3,679 crore loss in Q1

Consolidated net sales fell 8% y-o-y to rS 61,466 crore, above analyst estimates.

Tata Motors, Tata Motors  Q1 result, CFO PB Balaji,  JLR, Ebitda, BSE, CV passenger, M&HCV trucks, auto industry News

Trade remedies often help biggies, hit economy: Commerce secretary Anup Wadhawan to cabinet secretary

Manufacturers ‘game the system’ at the cost of consumers, commerce secy Wadhawan writes to Cabinet secy Sinha

Trade remedies, Anup Wadhawan, Pradeep Kumar Sinha, industrial users, DGTR, extra tariff barrier, PTA News

Car sales slump hurts dealers, 200 showrooms shut

Typically, a big dealer has around 12-15 showrooms while a small dealer will have under five.

Poor car sales, sales of passenger vehicles, PV manufacturers, NBFC financing, DHFL, I&LFS, vehicles prices News

Discoms’ losses mount, so do their dues to gencos

In what underlines the urgency of revamping the UDAY scheme, power distribution entities' (discoms) losses are again mounting, after declining over two years till FY18 — at FY19 end, the losses were

Discoms, Discoms loss, UDAY scheme,  power distribution entities, latest news on Uday scheme News
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