'Expenditure on gold jewellery in Kerala is the highest in the country.' 'But the robust demand has been affected by the floods.'
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
'It will be like this: If you use the window seat in the first row, next will be the aisle in the second row, to maintain social distancing.' 'So, two-thirds of the aircraft is not going to be used.'
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
Raghavendra Kamath reports on what ails India's real estate sector.
Every housing finance company, and every bank with a large housing finance exposure, will see loss of volumes in this quarter.
'We have to plan for whatever the new normal is.'
The sobering news is that retailers - including big firms like Reliance Retail - and exhibitors are contemplating issuing force majeure notices to shopping malls and real estate owners, and are in discussions with them to formulate an action plan for sharing the financial burden of the lockdown.
India's economy grew at 7.6 per cent in 2015-16.
Buying stocks during bad times can lead to good returns.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
Ashok Leyland's debt increased to Rs 5,500 crore as of June, from Rs 4,300 crore at the end of the March quarter, mainly due to higher working capital.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
In the mid-quarter review on December 18, the Reserve Bank left key policy rates unchanged but said it will hike interest rates if inflation does not subside.
Demonetisation was aimed at removing black money and corruption, but undisclosed income keeps being unearthed from various parts of the country.
'The economy needs to deliver the expected 7.5% growth for the markets to deliver better than single digit returns.' 'Any disappointment in growth can see the markets correcting downwards.'
Captain Sanjay Sudan had filed the suit against Kingfisher Airlines seeking recovery of around Rs 13 lakh (Rs 1.3 million), his outstanding salary for three months from the airline.
The code says the process is intended to balance the interests of all stakeholders and the resolution plan is also required to make a statement as to how it has dealt with these interests.
Jet Airways' engineers, pilots and senior management have not been paid for January and February, besides 87.5 per cent of their December salary is also due.
'Even during the lockdown, we have received many online enquiries and subsequent bookings.'
While selling NPAs, banks are also directed to work out the net present value of estimated cash flows in case of realisation of these assets. The sale price should generally not be lower than the net present value, RBI said.
The cost of paying the subsidy in cash has increased the money spent by the government.
Continuing its probe into covert activities of Lashkar-e-Tayiba, the National Investigation Agency has arrested a man hailing Bihar in the national capital,
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
With state-owned oil marketing companies strapped for cash on account of selling products at subsidised rates, the Oil Ministry last week approached the Finance Ministry seeking oil bonds in advance for the second and third quarters of the current fiscal 2008-09.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
Even as the World Bank has revised India's growth figures by 0.4 percentage points as compared to its January forecast, India remains the fastest growing major economy in the world, the World Bank officials said.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
The investors write to new finance minister; say refunds, not arrests, their priority.
The RBI is exploring ways to allow banks more flexibility in loan restructuring.
'We may have moved back three decades on the fiscal situation,' notes T N Ninan.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
Slight recovery in growth is expected only in July-September.
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like Oil and Natural Gas Corporation.
'The markets could shrug off demonetisation as a one-off extraordinary period.'
Achieving inflation target of 4 per cent, recovery after remonetisation and hardening profile of oil prices are some of the risks which the RBI is watching closely, says Gaurav Kapur.
Justice Manmohan Singh ordered the grounded carrier to pay Rs 28,95,000 to its former pilot, Captain Dinesh Kant Sharma, on his plea seeking payment of his salary for the notice period of five months.
