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Daily News Podcast: Google makes a play for India's e-commerce market

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BusinessToday.In | August 29, 2018

Gross NPAs of banks may improve to 10% in March 2019 as resolution process picks up pace

The gross non-performing assets (GNPAs) of the banking sector is likely to improve to 10 per cent in March 2019, from 11.52 per cent as on June 30, 2018, as nearly 60 per cent of the bad loans of the sector are under active resolution, a report has said. The net NPA is also expected to decrease to 4.3 per cent, from 5.92 per cent as of June-end this year, ICRA said in its report. The rating agency, however, cautioned that GNPA and NNPA may be higher at 12.2 per cent and 5.6 per cent, respectively, in absence of resolution.
Vedanta bags 41 out of 55 oil blocks in first round of open acreage auction

Billionaire Anil Agarwal-led Vedanta Ltd has bagged 41 of the 55 oil and gas exploration blocks offered in India's maiden open acreage auction, upstream regulator DGH announced on Tuesday. State-owned Oil India Ltd won nine blocks, while its big brother Oil and Natural Gas Corporation (ONGC) managed to bag just two.

Google makes a play for India's e-commerce market

Google will make its debut in India's e-commerce and retail ecosystem this Diwali through its payments platform, Tez, renamed Google Pay as reported by Business Standard. From tying up with more than 2,000 e-commerce companies, including big names such as cab aggregator Uber and movie ticketing platform BookMyShow, to adding about 1.2 million offline merchants, including the likes of Big Bazaar, Google is looking to create an ecosystem where everything will work around the payments app. The company is also going to offer consumers instant loans on its platforms and has partnered four banks for the same.
New Hyundai Santro to be launched during the festive season

The launch date for the much-awaited and talked-about Hyundai Santro has been revealed as reported by auto news website RushLane. It will be out during the upcoming festive season on October 23. It will be the first product to be launched under Hyundai's latest 'Modern Premium' philosophy which aims to offer both, a premium experience and enhanced value. The compact hatchback will be positioned between Eon and Grand i10. Compared to the older Santro, new version will be longer and wider
From food to service, Indian Railways is upgrading Rajdhanis, Shatabdis in full force

According to latest reports, Railway Minister Piyush Goyal has asked the Indian Railway Catering and Tourism Corporation (IRCTC) to come up with a plan to attach fully air-conditioned pantry cars to every train. The AC pantries will have induction cooking systems and will ensure hygienic cooking environment. As of now, only Mumbai's Rajdhani Express has that facility.
A survey in 2015 had revealed the deplorable condition of pantry cars. These pantry cars are equipped with LPG cylinders, raising the stake of fire hazards on trains.

Jet Airways plans to cut non-fuel costs by 12-15% in 2 years

Jet Airways (India) Ltd has said it is on track to cut non-fuel costs by 12-15% over the next 18-24 months, a day after the airline's board outlined a turnaround plan following a second straight quarterly loss, as reported by Mint. Higher fuel costs, subdued yields and an unrealized foreign currency loss hurt Jet Airways in Q1, chief financial officer Amit Agarwal has said. Jet Airways, which had about 13.6% of the domestic market share in July, on 27 August reported a fiscal first quarter loss of ? 1,323 crore, excluding those of its unit.
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