Wednesday, October 28, 2020

Saunak Chowdhury

Govt. pumps in credit focused stimulus to NBFCs, MFIs and HFCs

KOLKATA: On Wednesday, Finance Minister, Nirmala Sitharaman, announced a bevy of financial measures to provide relief to the cash-strapped Indian non banking sector. A day after Prime Minister Narendra Modi announced the Atmanirbhar Bharat Abhiyan package worth ₹20 Lakh...

COVID-19 Stimulus: Power Discoms get ₹90,000 Crore liquidity Relief

KOLKATA: On Wednesday, PM Narendra Modi, in a national televised address, unveiled a comprehensive economic stimulus worth ₹20 Lakh Crore. One of the measures that the government announced, under this package, is to provide ₹90,000 Crores worth of liquidity...

COVID-19: Govt. Offers MSMEs credit guarantees and equity support

KOLKATA: On Wednesday, PM Narendra Modi, in a national televised address, unveiled a comprehensive economic stimulus worth ₹20 Lakh Crore to boost the Indian economy. On cue, Finance Minister, Nirmala Sitharaman also unveiled the long-awaited economic relief measures for...

COVID-19: IIP shows March ’20 Industrial production at a 16.7% Low

KOLKATA: On May 12, the data from Index of Industrial production, for the month of March, got released by the government. According to its data, the industrial operational output of India has sunk down to 16.7% in March of...

PSB loan sanctions Jump to ₹5.95L Cr in past 2 months; to be disbursed, post-lockdown, says FM

KOLKATA: On Tuesday, Finance Minister Nirmala Sitharaman said that public sector banks (PSB) have sanctioned loans that total up to ₹5.95 Lakh Crore in the course of the last 2 months. She added that these loans will be disbursed...

Q1 Profit of Nestle India at ₹525 Cr, 13% YoY Rise; Stocks fall

KOLKATA: On May 12, makers of Maggi and KitKat, Nestle India Ltd. reported a 13.4% year-on-Year (YoY) rise in their quarterly profit after tax (PAT). Summarily, its Q1FY21 performance report doesn't appear to show any indications of negative  impact...

IndiGo Parent, InterGlobe, looks to Bid for Bankrupt Virgin Australia

InterGlobe Enterprises (IGE), which holds the most shares in the largest Indian airline, IndiGo , is apparently looking to bid for Virgin Australia, Australia's 2nd-largest aviation company. Virgin Australia declared bankruptcy with a debt of around $888 million, about...

Apple to Move 20% Production from China to India; Sets a ₹3L Cr Export Target

In an effort to diversify its production out of China, US tech giant, Apple Inc. may be considering moving one-fifth of its Chinese manufacturing capacity into India through Taiwanese contract manufacturers, Wistron and Foxconn. If this decision is finalised, Apple...

Airtel picks IBM, Red Hat for 5G-Ready Open Hybrid Cloud Network Building

KOLKATA: On Monday, Indian telecom giant, Bharti Airtel announced that in a bid to boost its network performance, for the upcoming age of 5G and edge computing, it has chosen American multinational technology company IBM and Red Hat to...

SBI Gen Insurance’s FY20 net profit rose 23.4% YoY at ₹412 Crore

Private sector non-life insurer, SBI General Insurance, posted a 23.4% year-on-year (YoY) growth in FY20 net profit. It amounted to ₹412 crore and was helped by a healthy top-line growth. However, SBI General Insurance's profit after tax was ₹333.9 crore,...

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