Banking & Finance

Industries await further relief measures FICCI and ASSOCHAM welcomed the Government’s tax relief announced on 24 Mar 2020 by Finance Minister Nirmala Sitharaman, especially the halting the IBC procedure for six months "FICCI welcomes the relief measures announced by the...

Development of electronic eco-system The Cabinet has approved to offer financial incentive of 25% of capital expenditure for the manufacturing of goods that constitute the supply chain of an electronic product under the Scheme for Promotion of manufacturing of Electronic...

Thakur says over 91,000 accounts covered The Government has sanctioned Rs.20,466.94 crores of loans have been under the Stand-U-India Scheme for setting up greenfield enterprises in the manufacturing, services or the trading sectors by women and people from schedule caste/schedule...

India-Swiss partnership in action Tech Mahindra Ltd and Zurich-based Innoveo has announced partnership to drive digital transformation to enhance customer experience globally in Insurance, Banking and Wealth Management. The partnership will leverage No-Code Platforms to accelerate the launch of custom-built...

Businesses staring at negligible business activity The expected emergency rate cut by the Reserve Bank of India did not materialize, writes Anuj Puri, chairman of ANAROCK Property Consultants. The question of whether it would have helped the Indian real estate...

Indian hybrid markets shaken The Reserve Bank of India's (RBI) decision to permanently write down Yes Bank Ltd's additional Tier-1 (AT1) instruments contrasts sharply with the approach taken for similar instruments issued by the country's public-sector banks. The Yes Bank...

Otter-Link enter NBFC business The Competition Commision of India (CCI) has approved acquisition of additional equity shares in Hero FinCorp Limited by Mauritius-registered Otter Limited and Link Investment Trust. The proposed combination envisages subscription to additional equity shares in Hero...

Govt+SBI to inject capital S&P Global Ratings believes that a quick resolution of Yes Bank's insolvency will keep the Indian bank-sector contagion at bay, though it poses pain for investors in bank hybrid securities. “As credit markets tighten, we also...

Launch GST 2.0 for taxation issues The rural distress should be addressed through laying emphasis on rural infrastructure development and stimulating demand by increasing the pace of fund transfers under the PM-Kisan and MGNREGA schemes, according to a survey of...

Economy: Low vehicle utilization Shriram Transport Finance Co Ltd’s (STFC) low exposure to Yes Bank's hybrid securities will shield its financial profile, according to S&P Global Ratings. STFC does not hold any Additional Tier 1 (AT1) capital instruments of the...