Indian companies are staring at substantial pay cuts and delay in increments this year as coronavirus continues its rampage across the world. Yes Bank founder Rana Kapoor has been sent to judicial custtody after his ED custody ended on Friday. Recovering from 4 sessions of straight fall, BSE and NSE indices closed 5.8 per cent higher on Friday. Read for more top stories from the world of business and economy:
IndiGo CEO Ranojoy Dutta, has announced that he would be taking a 25 per cent pay cut, while his other senior colleagues would be taking a 20 per cent hit in their salaries.
Loan outstanding against trade (import and export industries) is the highest at Rs 5.19 lakh crore followed by MSMEs, Rs 4.73 lakh crore.
Rana Kapoor, former managing director and CEO of Yes Bank, was under the Enforcement Directorate (ED) custody till March 20.
CRISIL has assigned its 'CRISIL A2' rating to the Rs 20,000 crore certificate of deposit programme of Yes Bank on expectation of continued extraordinary systemic support from key stakeholders, including SBI.
Recovering from 4 sessions of straight fall, BSE and NSE indices closed 5.8% higher today. The 30-share index ended at 29,915, rising 1,629 points and the 50-share barometer closed 483 points higher at 8,745.