The Big Bank of India Catch the Glitter in Gold loans
KOLKATA: A new wave is catching on to the banking sector of India amidst the global health crisis. Gold loans seem to be the order of the day for the…
RIL to use 75% of ₹53000 Crores raised via Rights Issue to Repay Debts
KOLKATA: A few weeks ago, the board of Mukesh Ambani-led Reliance Industries Limited (RIL) announced the approval of a plan to raise ₹53,125 Crore. The board proposed to do this…
Farmers Rejoice as NABARD disburses ₹20.5-Crore COVID-19 liquidity to coop banks, RRBs
KOLKATA: On Monday, National Bank for Agriculture and Rural Development (NABARD) announced the disbursal of ₹20,500 Crores worth of special liquidity facility, to cooperative banks and regional rural banks (RRBs).…
SoftBank’s Vision Fund reports ₹1.4L Cr Loss as Tech Bets Nosedive; Jack Ma Quits Co. Board
A few years ago, CEO of Japanese conglomerate SoftBank, Masayoshi Son, unveiled a 100 Billion dollar fund named the SoftBank Vision Fund 1. He had shared his plans of raising…
COVID-19 impact : Govt Revises EPF Contribution Cut
On Monday, Ministry of Labour and Employment, announced a revision in the rate of provident fund contribution. Now, employees and employers, have to pay 10% of their salaries to the…
Biopharma Co. Biocon Posts a Q4FY20 Profit fall of 42% at ₹123 Cr
KOLKATA: India-based biopharmaceutical company, Biocon posted a 42.3% year-on-year (YoY) fall in its net profut for the march-end quarter(Q4) of the last fiscal(FY2019-20). Its net profit stood at ₹123.4 Crore…
Paytm Payments Bank launches cash at home facility for senior citizens in Delhi NCR
KOLKATA: On Friday, Paytm Payments Bank (PPBL) launched a ‘cash-at-home’ initiative which would be only limited for senior and different-abled Indians. This scheme comes amid the nationwide pandemic that has…
COVID-19: Supreme Court asks Centre, RBI to clarify Loan Moratorium Issue
On Friday, a Supreme Court bench, led by Justice L Nageswara Rao, issued a notice to the Reserve Bank of India and the Ministry of Finance asking whether it is…
COVID-19 Lockdown: Merchandise Imports and Exports goes down by 60% in April
On Friday, data released by the Indian Ministry of Commerce show that merchandise exports fell sharply down to 60.3% while imports shrunk by 58.7%. This fall has led to a…
COVID-19 Lockdown: States stare at major revenue losses worth ₹97K Cr for April
KOLKATA: Leading states, all over India, have reported that they are collectively looking at about ₹97,100 Crore in losses of revenue for the month of April, 2020. Moreover, the administrations…