Economy

Concerns related to IL&FS has made investors turn wary of the whole sector The recent sell-off in the shares of non-banking financial companies (NBFCs) and housing finance companies (HFCs) has been so severe that some of the sector constituents are currently trading at a discount of over 50% when compared …

Infrastructure Finance & Leasing Services, which is facing a severe cash crunch, along with 40 other group companies, filed an application with the Mumbai Bench of the National Company Law Tribunal (NCLT), seeking relief under Section 230 of the Companies Act. By moving NCLT, IL&FS can get more time to …

Microsoft, Adobe Systems and SAP have formed an alliance to offer clients using their applications a unified view of data on their respective end-customers. “There is a big data opportunity. But we have a small data challenge,” said Microsoft CEO Satya Nadella at the annual Ignite conference of the IT …

Union Finance Minister Arun Jaitley on Tuesday said public sector banks were expecting stronger credit growth this financial year on the back of stronger growth in the economy. “We are passing through a phase of good growth in the economy,” the Minister said at a press briefing following the annual …

Nationalised banks expect Rs. 1.8 lakh crore recoveries this year, says official Non-performing assets with public sector banks are on the decline, Finance Minister Arun Jaitley said on Tuesday, adding that public sector banks are expecting recoveries of loans to the tune of Rs. 1.8 lakh crore this financial year. …

Petrol prices surpassed the the Rs. 90-mark in Mumbai on Monday. Petrol prices were hiked by 11 paise a litre and diesel by 5 paise. Petrol in Delhi costs Rs. 82.72/litre and diesel to Rs. 74.02. Source : https://www.thehindu.com/todays-paper/tp-national/petrol-crosses-rs-90-mark-in-mumbai-rates-at-all-time-high-across-country/article25032863.ece

The monsoon will likely start withdrawing from the country by the end of the week, the India Meteorological Department (IMD) said in a forecast on Tuesday. “Prevalence of dry weather is likely over western Rajasthan from tomorrow. Reduction in the moisture associated with the monsoon flow and a changeover in …

Prime Minister Narendra Modi on Monday inaugurated the first airport in Sikkim. With this, the number of functional airports in the country went up to 100. “This is a historic day for the State of Sikkim and also an important day for the rest of India. With this inauguration, the …

‘Severely wasted children must befed fresh food’ India’s top nutrition panel has recommended that severely malnourished children must be fed freshly cooked food prepared from locally available cereals, pulses and vegetables, and distributed by anganwadi centres, as part of the country’s first-ever guidelines for nutritional management of children suffering from …

Move is aimed at shoring up the sliding rupee The government has finalised the list of non-essential items on which it will be imposing import tariffs, according to a senior official in the Finance Ministry.The official said the list, to be notified soon, would include electronics, gems, select items of …

Tata Steel’s decision to acquire Usha Martin’s one million-tonne steel business for a cash consideration of up to Rs. 4,700 crore would lift the company’s volume of long products by 24% and expand its product mix, analysts say. Usha Martin’s alloy long steel products cater to higher value-added automotive and …

We can assure the government that all data we have stays in the country, says AWS’ Peter Moore The government has the right to ask that sensitive data be stored locally, a senior official of Amazon Web Services (AWS) has said. The statement comes amid opposition from experts and foreign …

Prime Minister Narendra Modi on Sunday said he would inaugurate the first airport in Sikkim at Paykong on Monday and that it will improve connectivity, benefitting the people of the State. Source : https://www.thehindu.com/todays-paper/tp-national/pm-to-inaugurate-sikkims-first-airport-monday/article25024133.ece

Calls scheme a global ‘game changer’ Prime Minister Narendra Modi launched the mega healthcare scheme Ayushman Bharat, also known as the Pradhan Mantri-Jan Aarogya Yojana (PM-JAY), from Ranchi in Jharkhand on Sunday and declared the scheme would be a “game changer” globally in health insurance. Vote bank He also hit …

Investors can safely ignore glimmers of hope in the trade war between the United States and China. The latest round of U.S. tariffs on $200 billion of Chinese goods, and Beijing’s response, could have been worse, and that buoyed markets. The S&P 500 Index, Dow Jones Industrial Average and Nasdaq …

What is the problem? Former RBI Governor Raghuram Rajan, in his report to Parliament recently, said that while non-performing assets stemming from corporate loans are a current problem, the government should focus on sources of the next crisis. In particular, he warned, the government should refrain from setting ambitious credit …

A study points out that corneal blindness may no longer be the leading cause A recent World Health Organisation (WHO) report has estimated that, across the world, 19 million children are visually impaired and 1.4 million among them are legally blind. According to the National Program for Control of Blindness, …

‘No benefit from Sterlite unit closure’ The trade friction between the U.S. and China is worrisome and can have an impact on India, said Kumar Mangalam Birla, chairman, Aditya Birla Group. Hindalco’s subsidiary Novelis has presence in both the U.S. as well as China and so has Aleris Corporation which …

IRDAI sets uniform Rs. 750 annual premium for the cover The minimum Compulsory Personal Accident (CPA) cover for owner-drivers under the motor insurance policy has been increased to Rs. 15 lakh. The enhanced, mandatory cover that came into force with immediate effect will lead to a higher annual premium of …

NRIs, OCIs, resident Indians allowed to be part of such entities investing in India The Securities and Exchange Board of India (SEBI) has announced the revised guidelines for know your client (KYC) requirement for foreign portfolio investors (FPIs) allowing non-resident Indians (NRIs), resident Indians (RIs) and overseas citizens of India …