Economy

Political sanctions have no place under insolvency code, says NuMetal NuMetal argued in the Supreme Court on Tuesday that international “political sanctions” against Russia’s VTB Bank had no place in the Essar Steel auction under the Insolvency and Bankruptcy Code (IBC). “In foreign policy, friends become foes and foes become …

Capital markets regulator to issue new circular on KYC norms for foreign portfolio investors The Securities and Exchange Board of India (SEBI) has broadly accepted the recommendations of the H.R. Khan Committee on Know-Your-Client requirements for foreign portfolio investors (FPIs), while lowering the total expense ratio (TER) for open-ended equity …

‘As much as Rs. 36,551 cr. cash recovered’ The Finance Ministry said on Monday that the stock of non-performing assets (NPAs) in public sector banks (PSBs) reduced in the April-June quarter. In a presentation, Rajiv Kumar, Secretary, Financial Services, said the stock of NPAs is ‘no longer rising’ as it …

India better in staff engagement: study The presence of automation in the workplace is making work environments “more human,” according to a global study released on Monday. Firms that invest in robotic process automation or Artificial Intelligence (AI) are witnessing higher performance returns, especially if they also invest in people, …

Century Plyboards (India) Ltd. (CPIL) is looking to cut costs and boost profitability by harnessing solar power at its units. It has already set up a one MW power plant at Chennai and is planning to add 4 MW across its various plants. Sajjan Bhajanka, chairman, CPIL, said in a …

Firm’s total water purifier capacity to cross 10 lakh units Kent RO Systems, a healthcare products firm, is planning to set up a second manufacturing plant at Noida at an investment of more than Rs. 150 crore. The facility will be ready in 4-5 years. “Our next expansion would happen …

It will not help recover NPAs: unions The government’s ambitious plan to merge three public sector banks — Bank of Baroda, Vijaya Bank and Dena Bank — could take at least one year to complete, banking industry officials said. The proposal to merge these banks, seen as long overdue, is …

Petition also seeks to empower State governments to take decisions on prohibition of these deadly poisons The Supreme Court on Monday agreed to examine a plea seeking ban on nearly 85 pesticides that are being used in India on the grounds that they pose health hazard. A Bench of Justices …

In response to the report titled ‘Maneka Gandhi bypassed, nutrition norms cleared’ (September 09, 2018), the Ministry of Women and Child Development has issued the following clarification: “The finalisation of Supplementary Nutrition Guidelines is still under the consideration and no final decision has been taken yet. There is no difference …

The Centre on Monday proposed the amalgamation of state-owned Bank of Baroda, Dena Bank and Vijaya Bank to create India’s third-largest bank. The decision was taken at the meeting of a ministerial panel, headed by Finance Minister Arun Jaitley, which oversees merger proposals of state-owned banks. The other members of …