Economy

The West Bengal government has signed pacts with BSE and NSE to raise awareness among the State’s MSMEs to tap the capital market as an alternate funding source. The State has the highest number of micro, small and medium enterprises — 52.7 lakh in 2016-17, employing about 1.1 crore people, …

Company developing more than 11 electric vehicle projects globally: Bhade Tata Technologies Ltd. has emerged as a leading end-to-end developer of electric vehicles (EVs) for global original equipment manufacturers (OEMs) and start-ups, a top executive said.“We reinvented the company to be ready for the EV play,” said Anand Bhade, president, …

Fund inflows into segment plunge to Rs. 22 cr. from Rs. 5,650 cr. The capital markets regulator’s decision last year to reclassify mutual fund schemes to help bring uniformity in investment strategy and asset allocation seems to have made the small cap universe a big casualty, with a bulk of …

R&M’s Bengaluru unit marks its first Asia Pacific investment R&M (Reichle & De-Massari AG), a Swiss cabling solutions provider, has set up a manufacturing facility in Bengaluru as it aims to tap a surge in demand from communication networks and data centres in the country. The company plans to set …

Scheme will enable States to choose routes, provide subsidy to airlines State governments will be able to encourage tourism on preferred international air routes by offering subsidy to domestic airlines for a period of three years. The Ministry of Civil Aviation has prepared a draft scheme document for “UDAN International” …

Expects a positive response from RBI on the formation of the bank The State government is expecting a positive response from the Reserve Bank of India on the formation Kerala Bank, Cooperation Minister Kadakampally Surendran has said. Mr. Surendran said in a clarification issued here on Tuesday that the government …

Special Assembly session on August 30 to discuss flood havoc The Kerala government is looking forward to imposition of a 10% cess on State GST and rise in its borrowing limit from the present 3% to 4.5% of the Gross State Domestic Product (GSDP) to raise sufficient resources for the …

Consumption of non-coking coal is forecast to climb to 1,076 million tonnes in fiscal 2023, from 826 million tonnes in fiscal 2018, Crisil Research said in a report. In a sectoral study, Crisil Research also said that non-coking coal imports would decline to 145 million tonnes in fiscal 2023 from …

Consortium lending often led to inordinate delays in loan appraisal and resulted in swelling non-performing assets (NPAs) in the banking system, according to Rajnish Kumar, Chairman, State Bank of India. Consortium banking, as it was called till mid-90s, later became multiple banking following complaints of delay in appraisal process but …

The benchmark indices of South Korea, Indonesia and Taiwan also gained ground amid hopes that the U.S. and China would soon resolve trade disputes. Nikkei, however, lost marginal ground on Monday. Back in India, the overall market breadth also remained slightly on the stronger side with 1,437 advances against 1,307 …