Tuesday, May 11, 2021

anjali mahto

Govt cancels plan of merging three public sector general insurers, to focus on their profitability instead

On July 8, the Indian government announced that it has halted the process of merger of three stressed public sector general insurance companies to rather focus on making them profitable. It also announced the approval of capital infusion of Rs...

SBI decreases MCLR to provide cheaper home loans to customers

On July 8, SBI announced that it has lowered its benchmark lending rates across shorter tenors. The bank said that its marginal cost of funds-based lending rate (MCLR) will be decreased by 5-10 basis points (5-10 percentage point). The...

Bharat Biotech’s develops COVID-19 vaccine ‘COVAXIN’, to start phase I & II human clinical trials soon

Bharat Biotech with the help of Indian Council of Medical Research (ICMR) and National Institute of Virology (NIV)  has developed India's 1st vaccine for COVID-19 which is named as COVAXIN. To develop this vaccine first SARS-CoV-2 strain was isolated...

Government to allow PSU insurance firms and pension funds to invest in government’s Fund-of-funds

Various government agencies like the Department for Promotion of Industry and Internal Trade (DPIIT) and industry regulators including the Insurance Regulatory and Development Authority of India (Irda) and Securities and Exchange Board of India (Sebi) are planning to allow...

ICICI Bank to offer 8% salary increment to 80,000 employees for work amid Covid-19

On July 7, sources said the country's second-largest private sector bank, "ICICI Bank has decided to reward over 80,000 of its frontline employees with a salary hike of up to 8 per cent". They added, "These employees form over 80...

Yes Bank to raise Rs 15,000 crore through FPO of its shares

On July 7, Yes Bank's Board of Directors decided to approve the decision of making a Further Public Offering (FPO) of Yes Bank shares. The bank plans to raise around Rs 15,000 crore and enhance its capital adequacy to...

Corporate Stress expected to grow to 18.21% of outstanding quantum, says Ind-Ra report

India Ratings and Research (Ind-Ra) in one of its note said, "The impact of coronavirus (COVID-19) pandemic and the associated policy response is likely to result in an additional Rs1.67 trillion of debt from the top-500 debt-heavy private sector...

Adani Transmission to acquire Kalpataru’s Power transmission subsidiary for Rs 1,286 crore

On July 6, Adani Transmission announced its decision to purchase a transmission subsidiary from Kalpataru Power Transmission for an enterprise value of Rs 1,286 crore. The company issued a statement in which it said," Adani Transmission has signed definitive agreements...

Indian government reviewing around 50 investment proposals from Chinese companies

According to some sources, the Indian Government is reviewing around 50 investment proposals involving Chinese companies under a new screening policy. In April, the government announced its decision that there will be a prior requirement of approval by the...

HDFC Bank deposits increase to Rs 11,89,500 Crores in Q1 of current fiscal

On July 4, HDFC Bank said that its advances have increased 21 per cent year-on-year in the April-June quarter to Rs 10,04,500 crore. While its advances were Rs 8,29,700 crore in the year-ago period. In the Quarter 4 of...

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Subject-wise question bank now available for Class 12 Maharashtra board Students; Check here to know more

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Kindred Group’s 32Red to continue sponsoring Rangers FC

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