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BusinessToday.In
New Delhi, May 7, 2021
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, said State Bank of India Managing Director Swaminathan; India has welcomed the US support for a relaxation in the norms of the TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement to ensure quick and affordable access to Covid-19 vaccines and medicines for developing countries; Jindal Steel and Power Ltd (JSPL) said it has ramped up its daily oxygen supply limit to 120 tonne/day for the treatment of COVID-19 patients. Watch this and more news on News Blast.Also Read: Covid second wave to have muted impact on economy: Finance Ministry


Reuters
May 7, 2021
Cairn was awarded damages of more than $1.2 billion plus interest and costs in December in a long drawn-out tussle with the Indian government over its retrospective tax claims


BusinessToday.In
May 7, 2021
SBI's digital platforms- INB, YONO, YONO Lite and Unified Payments Interface (UPI) services will also remain impacted during this period


Rashi Bisaria
New Delhi, May 7, 2021
COVID-19 in India: Centre issues guidelines for vaccination of aviation staffThe Centre on Thursday, issued an advisory to facilitate swift COVID-19 vaccination of aviation personnel working in government as well as private entities. As per the guidelines, civil aviation community provided unhindered services for the movement of people in need and essential cargo including critical medical cargo like vaccines, medicines, Oxygen Concentrators, etc., thus their vaccination remains a priority....


PTI
May 6, 2021
If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans


Ashutosh Kumar
May 6, 2021
Several tax provisions contained in Budget 2020 are impacting donations and relief measures. For instance, welfare trusts and other organisations involved in arranging relief materials are facing difficulty in raising funds from donors as they lack power to issue tax exemption certificates


BusinessToday.In
May 6, 2021
Report says second wave can lead to potentially larger impact on work, incomes, food security, health and education because it's coming on the back of depleted savings, debt, and reduced fallback options


BusinessToday.In
May 6, 2021
RBI Governor Shaktikanta Das announced had a Rs 50,000 lending programme to ramp up COVID-19-related healthcare infrastructure amid massive second wave ravaging India


BusinessToday.In
May 6, 2021
The macro impact of the scheme can be gauged from the fact that Rs 50,000 crore is roughly 9% of India's total health expenditure of Rs 6 lakh crore under private final consumption expenditure in 2019-20, according to SBI Ecowrap


BusinessToday.In
May 5, 2021
While granting the bail to the directors -- Mukti Bavisi, Trupti Suhas Bane and Ranjeet Tara Singh Nandrajog, the court asked them to submit their passports to it.


PTI
May 5, 2021
Shaktikanta Das said the quarantine facilities of the RBI continue to operate with over 250 RBI personnel and service providers to ensure continuity of various segments of financial markets and RBI operations


BusinessToday.In
May 3, 2021
Uday Kotak said, \"Given the current pandemic situation, safeguarding lives is of utmost priority and nationwide maximal response measure at the highest level is called for to cut the transmission links\"


Anand Adhikari
New Delhi, May 3, 2021
The two-decade-old asset reconstruction industry with over two dozen players will now have the first public sector Asset Reconstruction Company ( ARC), to be set up by the state-owned banks. The government felt the need for setting up a new ARC to clean up the books of the public sector banks (PSBs), which are saddled with bad loans. While more players in the bad loan market are always welcome, there is also a need for empowering the ARCs for faster resolution. The recovery track record of existing private ARCs is not very encouraging. Partly, capital constraints come in the way. The regulatory framework, which restricts ARCs in many areas, is also one of the reasons for ARCs to grow and resolve the bad loans.  In a timely move, the RBI has decided to review the existing legal and regulatory framework. Anand Adhikari, Executive Editor, Business Today shares a checklist of measures and regulatory relaxations that are a must for making ARCs more effective.Also Read: Maintain business resilience, manage risks wisely: RBI Guv tells NBFCs


BusinessToday.In
May 3, 2021
Das advised the NBFCs and MFIs to pay focussed attention to strict adherence to fair practices code, improve customer grievance redress mechanism and strengthen their IT systems


BusinessToday.In
May 3, 2021
Amara Raja Batteries stock opened with a loss of 2.47% at Rs 790.70 on BSE. It further fell up to 6.37% to Rs 759.05


BusinessToday.In
May 3, 2021
Coronavirus in India: Kotak added that even though healthcare and frontline workers are giving their best efforts, it might not be possible for them to manage the escalating caseloads


Reuters
May 3, 2021
The United Arab Emirates' economy shrank 6.1% last year as the coronavirus crisis hit several key sectors


BusinessToday.In
May 2, 2021
Dinesh Kumar Khara, chairman at State Bank of India added that as the lockdown was not pan-India, one will have to wait and watch to assess its impact on the banking sector


BusinessToday.In
May 1, 2021
The bank will also offer a concession of 5 basis points to women borrowers and customers applying for loan through YONO app.


BusinessToday.In
April 30, 2021
Sensex crashed 983 points to close at 48,782 and Nifty tanked 263 points to 14,631


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