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Recovering dues: Most MFs may not sign ICA but still back resolution plan for DHFL

Most Mutual Funds that have an exposure to Dewan Housing Finance (DHFL) are unlikely to sign the inter-creditor agreement (ICA) but will nonetheless lend their support to a resolution plan.

DHFL, draft resolution plan, debt, equity, industry news, Resolution Plan, IL&FS bankruptcy News

Hobson’s choice: GST cut for auto industry to cost Rs 30,000 crore to govt

Tax relief may push sales in short term, but to hit revenue hard; rate cuts may be limited to certain segments.

While automobiles, including two-wheelers, attract 28% GST, they also are subjected to cesses that vary from 1-22% depending on the make of the vehicle News

Chandrayaan-2 lander spotted on moon, but no contact yet: ISRO

The lost lander module of the Chandrayaan-2 mission has been located on the surface of the moon with the help of its orbiter, Isro chairman K Sivan said on Sunday, adding that they had not been able t

Sivan was quoted by ANI news agency as saying the Chandrayaan-2 orbiter had managed to click a “thermal” image of the lander News

Sweetening the deal: Farmers may get Rs 6,000 per acre to shun sugarcane farming

Given the ever-rising fiscal burden and depletion of water tables owing to farmers in areas with low irrigation coverage choosing to cultivate water-guzzling crops, a government panel is considering r

Economy News

5G auction: Telecom panel to meet on September 19 to finalise spectrum price

The Digital Communications Commission (DCC) is scheduled to meet on September 19 to finalise the pricing and other modalities for the upcoming spectrum auction.

Industry News

Slow speed, powerless network push BharatNet users to Reliance Jio

The government’s showpiece project related to Digital India — BharatNet — which aims at connecting 2.5 lakh gram panchayats with wired broadband connectivity at 100 Mbps speed — isn’t workin

Industry News

PV Sindhu is now the highest-paid woman athlete in India

After her recent record-breaking achievement of bagging India’s first gold at the BWF World Championships, 24-year-old PV Sindhu is taking her time to pick and choose new brand endorsement deals.

Industry News

Uber in trouble: SC orders probe into anti-trust practices by taxi-hailing app

The Supreme Court has ordered a probe into the alleged abuse of dominance and anti-competitive practices by popular taxi-hailing app operator Uber India Systems.

It was alleged that Uber is spending about $885 million to generate a revenue of $415 million News

Job loss: Zomato lays off 541, says tech advances led to redundancies

Zomato on Saturday said it let go of 541 employees across customer, merchant and delivery partner support teams, saying “growing business and improvement in services cut down on the need to service

Industry News

Lipstick Index shows full colour in India

The lipstick index — women splurging on the lower cost cosmetic instead of bags and shoes during a slowdown — might be discredited globally, having been replaced by the nail polish index in the cu

The domestic market size (in terms of sales) of lipstick reached Rs 34.80 billion in 2018 from Rs 27.02 billion in 2016, data from Euromonitor International showed News

Economic slowdown: Govt fast-tracks public spending, asks PSUs, ministries to pitch in

The government has devised a multi-pronged approach for providing a boost to the economy.

India growth, India growth RATE, India gdp growth, India gdp growth rate 2019, india economic growth, economic slowdown, india economic , News

Sterling Biotech: NCLAT sets conditions for promoters to take back control

Preconditions are ED-certified clean money and timely payment to creditors

Sterling Biotech case, Sterling Biotech case summary, Sterling Biotech court case, Sterling Biotech money laundering case News

FEMA violations: Jet Airways founder Naresh Goyal questioned by Enforcement Directorate

Last month, the ED raided offices of Jet Airways, Goyal and his associate Hasmukh Gardi. Raids were also conducted in Goyal’s residence.

Jet Airways insolvency, Jet Airways crisis, Jet Airways founder, Jet Airways ceo, naresh goyal, Jet Airways insolvency news, Jet Airways insolvency case, Jet Airways insolvency plea, Jet Airways insolvency process, Jet Airways insolvency india, Jet Airways insolvency proceedings News

Suzlon scraps $1.2 billion debt repayments; stock slides

The Indian wind-turbine maker has been struggling since 2017 after the government shifted to auctions as the preferred method to install wind projects.

Suzlon default, bond payment, CARE Ratings, market news, Suzlon Energy, Tulsi Tanti, market news, industry news,  News

Slowdown: Government to make one more announcement to support economy

Sitharaman said the government’s revenue targets were set after due consideration and if there was any shortfall in realising those, it would be dealt with as situation evolved.

Nirmala Sitharaman, GST, DRI, Tax Evasion, Fake GST Invoice News

Donald Trump has a favourite number when he makes big claims

Trump on Wednesday predicted the Dow would be up — another 10,000 points — if he hadn’t embarked on a trade war with China. “If I wanted to do nothing with China, my stock market – our stock

Donald Trump, United States, us economy, us china, trump dow jones, us stocks, global stocks, share market News

INX Media Case: P Chidambaram goes to Tihar, to spend 14 days behind bars

The provision for anticipatory bail, the bench said, should only be invoked in exceptional cases where the case alleged is frivolous or groundless.

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Mukesh Ambani’s Reliance Jio looks to shake up wired broadband market

Company launches offers with attractive tariffs & speeds; not enough to disrupt market, say analysts

JioFibre launch today: know full details of registration, Jio Fiber launch, broadband connection, Reliance Jio, cable TV customers, Mukesh Ambani, free HD TV set,  JioFiber customers News

Carmakers demand GST cut before festive season

The industry has been for long seeking reduction in GST rates. Guenter Butschek, CEO and managing director at Tata Motors, said while the GST cut is extremely important to combat the slowdown, it’s

Auto industry, Auto industry news, Auto industry slowdown, Auto industry news 2019 News

Brexit: Boris Johnson’s brother quits on eve of poll campaign

An election before Brexit would allow Johnson, if he won, to repeal the blocking bill. The law will pass the upper house, the Lords, by Friday evening.

World News

Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

rbi, digital payment, digital payment fraud, cash, digital india, digital payment boost News

Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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Slowdown pangs: Maruti Suzuki to shut operations at 2 plants for 2 days

This is the first time Maruti has officially announced shutdown of operations at its two plants apart from the regular annual maintenance shutdown twice a year — in December and June.

Auto industry, Auto industry news, Auto industry slowdown, Auto industry news 2019, auto sector, economic slowdown, maruti suzuki, tata motors News

No truce at IndiGo: Rakesh Gangwal shoots off fresh letter to Sebi

Gangwal’s main grouse regarding the board expansion to 10 was that if a position of an independent director falls vacant at any time, the size of the board will be in favour of IGE which can during

IndiGo airlines, IndiGo news, IndiGo, Rakesh Gangwal, EGM, industry news, IndiGo crisis News

Aditya Birla Real Estate Fund: AMC to provide investors an exit option

The real estate fund has returned a total amount of `601 crore, which is approximately 57% of the initial investment to its investors.

Aditya Birla fund, Aditya Birla fund amc, Aditya Birla real estate fund, Aditya Birla Fashion, Finesse International, Aditya Birla, industry news, Aditya Birla group News

IL&FS case: Bombay HC orders interim stay in proceedings against BSR

The petition also sought a stay on the ongoing proceedings against BSR in relation to the IL&FS case.

IL&FS case, IL&FS scam, IL&FS group, IFIN, industry news, SFIO, CARE, Fitch Ratings News

NHAI must make monetisation a structured programme: Vijay Chibber, former secretary, ministry of highways

Borrowing is not an independent activity of the NHAI. It is a part of the government’s borrowing activity, says former secretary at the ministry of highways Vijay Chibber

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