The licence to NARCL, dubbed as bad bank, was granted by the central bank on Monday, said an official. The approval to the entity has been accorded under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.
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At Record ₹20,000 Cr, Airlines May See 44% Rise In FY22 Loss: CRISIL
Indian airlines are expected to post a record loss of over ₹20,000 crore in the current financial year (April 2021-March 2022, or FY22) because of the third wave of the Covid19 pandemic and higher aviation turbine fuel prices, rating agency CRISIL said on Friday.
Adani Wilmar cuts IPO size to ₹3,600 crore
Edible oil major Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to ₹3,600 crore from the ₹4,500 crore planned earlier, people familiar with the development said on Friday. The company, which sells cooking oils under the Fortune brand, is expected to float its initial public offering (IPO) this month, they added.
AMID RAGING THIRD WAVE - FMCG firms go all out to ensure last-mile delivery
Take orders via calls, push retailers to use B2B apps to reduce boots on ground
Govt to pilot-launch e-com network in Apr
A small-scale implementation of the government's ambitious Open Network for Digital Commerce (ONDC) will be rolled out across two cities by April to see how the technology-enabled infrastructure works before it is officially launched.
Tradebody moves CCI to block Amazon deal to buy Cloudtail
Domestic traders' body CAIT on Friday said it has filed a petition before the Competition Commission of India (CCI) to block the transaction that has been entered into by Amazon where they will acquire 100 per cent shareholding in Cloudtail.
TSMC raises revenue growth projections due to chip shortage
Taiwan Semiconductor Manufacturing Co. raised its revenue growth projections and unveiled plans to spend as much as $44 billion expanding in 2022, signaling confidence that voracious demand for iPhones and chips will persist for years.
Tesla not in India due to challenges with govt: Musk
Elon Musk has wanted to sell Tesla cars in India as early as 2019. Three years later, the US electric vehicle pioneer isn't really much closer.
Motherson Sumito expand non-auto biz
India's largest automotive manufacturing company Motherson Sumi Systems (MSSL) is looking to expand business in four key non-automotive areas. These are aerospace, logistics, technology and industrial solutions and health and medical.
India's new Covid rules aim to free up resources but carry risks
India has eased its Covid rules on testing, quarantine and hospital admissions in a bid to free up resources for its neediest people, a strategy hailed by experts even though it carries the risk of a heavy undercount of infections and deaths.
5 killed as train derails in Bengal, PM takes stock
At least five people were killed and more than 45 injured when 12 coaches of the Bikaner-Guwahati Express train derailed and some overturned near Domohani in West Bengal's Jalpaiguri on Thursday, officials said.
India's Stressed Banks
“This is the classic crisis of confidence”
Atul Kumar joins PNB as Officer on Special Duty
Atul Kumar Goeljoined the Punjab National Bank (PNB) on Saturday and will serve as Officer on Special Duty (OSD) in PNB until the end of January 2022. He is slated to take over as the new MD and CEO of PNB with effect from February 1, 2022.
Modi to fugitive economic offenders: Return to country
PM Modi calls on democratic nations to ensure that cryptocurrency does not end up in the ‘wrong hands’
कई कंपनियों के कर्ज बेचेंगे बैंक
वीडियोकॉन ऑयल, एमटेक ऑटो और रिलायंस नेवल के कर्ज की होगी बिक्री
अमेरिकी अदालत ने नीरव मोदी और सहयोगियों की याचिका खारिज की
नीरव मोदी को झटका देते हुए अमेरिका की अदालत ने भगोड़े हीरा कारोबारी और उसके दो साथियों की उस याचिका को ठुकरा दिया जिसमें उन्होंने तीन कंपनियों के एक न्यासी द्वारा उनके खिलाफ लगाए गए धोखाधड़ी के आरोपों को खारिज करने के अनुरोध किया था।
BANKING ON BANK
Banks after underperforming year till date are likely to outperform once again and continue with their long term trend.
Carlyle withdraws open offer for PNB Housing
US-based private equity investor Carlyle Group company Pluto Investments Sarl has withdrawn the open offer to acquire 26.1% stake in PNB Housing Finance Ltd, after the latter decided to scrap the contentious 40-bin-rupee fundraising plan.
Evergrande, with a debt burden of around $ 300 billion, is the world’s most indebted real estate developer, and its position has sent shivers down the spine of the world’s financial markets
'देश को एसबीआई जैसे 4-5 बैंकों की दरकार'
महामारी के बाद की दुनिया की जरूरतों पर बात करते हुए केंद्रीय वित्त मंत्री निर्मला सीतारमण ने आज कहा कि देश में भारतीय स्टेट बैंक (एसबीआई) के आकार के कम से कम चार-पांच बैंक होने चाहिए जो बदलती और बढ़ती आवश्यकताएं पूरी कर सकें।
'बैड बैंक' के लिए 30,600 करोड़ की सरकारी गारंटी मंजूर
वित्त मंत्री ने कहा, बैंकों की हालत लगातार सुधर रही है