RBI to issue revised circular on NPA resolution before Lok Sabha election results : Bulletin: Business Today
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RBI to issue revised circular on NPA resolution before Lok Sabha election results

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BusinessToday.In | April 29, 2019

RBI to issue revised circular on NPA resolution before Lok Sabha election results

The Reserve Bank of India is expected to issue a revised circular over resolution framework of stressed assets before the results of the 2019 Lok Sabha election are declared. The revised circular is unlikely to attract any action on account of the Model Code of Conduct as the central bank's monetary policy is out of its purview.

Politicians favour shares of Mukesh Ambani's Reliance Industries, Kingfisher Airlines for investments

Fixed deposits and tax-free bonds seem to be among the most favoured financial investments for the political leaders fighting the 2019 Lok Sabha polls, while mutual funds and stocks also adorn the portfolios of many and some even have got shares of long-defunct firms like Kingfisher Airlines. Shares of Mukesh Ambani-led Reliance Industries Ltd (RIL), the country's most valued company with a market capitalization of over Rs 8.82 lakh crore, can be found in the portfolios of several leaders.

Sri Lanka's $4.4 bn tourism industry takes a beating after suicide attacks

The cancellations started before the dust had settled on the hotels and churches hit by suicide bombers in Sri Lanka as tourists and operators pressed the panic button.Many holidaymakers got the first plane out of Colombo after the blasts -- at least 40 foreigners were among the dead -- raising fears for a tourism industry that had managed to move on from the shadows of a decades-long civil war.

Ask SBI to release one month's salary to Jet Airways staff: NAG to PM Modi

The National Aviator's Guild (NAG), which represents pilots of the grounded carrier Jet Airways, Saturday requested Prime Minister Narendra Modi to "direct" the airline's lender State Bank of India to release one month's salary of all the employees.The guild also sought to expedite the binding bid date for the Jet Airways stake to "preserve" enterprise value of the airline

BigBasket to invest $100mn to strengthen supply chain

Alibaba-backed company BigBasket is pumping in USD 100 million (about Rs 698 crore) to strengthen its supply chain by setting up vending machines and smaller distribution centres across various cities it operates in. The online grocery platform -- which is registered as Supermarket Grocery Supplies -- had recently raised USD 150 million in funding

US considered grounding some Boeing 737 Max planes last year: source

 US regulators considered grounding some Boeing 737 MAX planes last year after learning belatedly of a problem with a system that is now the main suspect in two deadly crashes, a source has said. Investigators probing the Lion Air crash in October and the Ethiopia Airlines disaster in March have zeroed in on the planes' anti-stall system, called the Maneuvering Characteristics Augmentation System, or MCAS.

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