NCLAT permits lenders to meet, finalise bid for Bhushan Power & Steel

New Delhi, Jul 20: The National Company Law Appellate Tribunal (NCLAT) on Friday gave a go-ahead to the lenders’ meeting of debt-ridden Bhushan Power & Steel (BPSL), directing it to finalise a bid for the company. Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of the company to consider […]

Weak rupee not enough to tip scale in favour of India’s exports

New Delhi, Jul 20: A weak currency is generally good for exports. In India’s case, the script is not so straightforward. While the rupee is Asia’s worst-performing major currency this year, a demand-killing trade war threatens Indian exports that have already been hurt by policy disruptions over the past two years. History shows the currency’s […]

Trade war, higher US interest rate pose capital flight risk for India: S&P

New Delhi, Jul 20: Trade issues and higher US interest rate could create outward capital flow pressure for India, but risks this year are more moderate compared with 2013, S&P Global Ratings said on Friday. In its report APAC Economic Snapshots- July 2018’, S&P said Asia-Pacific region’s macroeconomic growth momentum remains strong despite further trade […]

HDFC Life Q1 profit jumps 20% to Rs 380 cr

New Delhi, July 20: HDFC Life today reported 20.2 per cent rise in net profit to Rs 380.18 crore for the first quarter of the current fiscal. The company had reported Rs 316.37 crore profit in the April-June quarter of last fiscal, 2017-18. Insurance profit (policyholder surplus) comprised 81 per cent of the total Profit […]

RBI gives in-principle nod to LIC for acquiring majority stake in IDBI Bank

New Delhi, Jul 20: The Reserve Bank of India (RBI) has given an in-principle nod to Life Insurance Corporation (LIC) for acquiring a majority stake in IDBI Bank, sources said. The government-owned insurance behemoth had sought the banking regulator’s nod before it had approached the Insurance Regulatory and Development Authority (IRDAI) for seeking regulatory approvals, […]

Infosys includes arbitration clause in CEO’s agreement

Infosys includes arbitration clause in CEO’s agreement

Bengaluru, Jul 20: Infosys will only take the arbitration route to resolve disputes, claims and grievances between its chief executive and the company, should such a situation arise in the future, according to its 20-F report filed with the US Securities and Exchange Commission. CEO Salil Parekh’s employment contract mentions that in such circumstances, the […]

Note ban hit GDP growth by up to 7.3 percentage points: World Bank

Note ban hit GDP growth by up to 7.3 percentage points: World Bank

New Delhi, Jul 19: The government’s demonetisation during the third quarter of 2016-17 took away up to 7.3 percentage points of growth in the country’s Gross Domestic Product (GDP) for that period only, in districts dominated by informal activities, says a new World Bank study. It used unconventional tools to assess the Narendra Modi government’s […]