Stepping on the Gas: Tata Motors to foray into CNG space

Stepping on the Gas: Tata Motors to foray into CNG space

🕔19:19, 7.Apr 2021

New Delhi, April 7  Automobile major Tata Motors plans to foray into CNG fuelled passenger vehicle segment in FY22. Accordingly, few of the company’s models will be offered with a factory fitted CNG kit. At present, Tata Motors provides an

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PLI push of over Rs 6,000 cr for AC, LED light manufacturing

PLI push of over Rs 6,000 cr for AC, LED light manufacturing

🕔19:18, 7.Apr 2021

New Delhi, April 7  In a move towards boosting the domestic manufacturing sector, the Union Cabinet on Wednesday approved the Production Linked Incentive (PLI) scheme for white goods — air conditioners and LED lights, with a budgetary outlay of Rs

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India becomes fastest Covid vaccinating country, surpasses US

India becomes fastest Covid vaccinating country, surpasses US

🕔19:16, 7.Apr 2021

New Delhi, April 7 India has become the fastest Covid-19 vaccinating country in the world with a daily average of 30,93,861 vaccine doses, the Union Health Ministry said on Wednesday. With this, India has surpassed the US which is vaccinating 30.93

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NCLT admits insolvency plea against OYO arm; Co. moves NCLAT

NCLT admits insolvency plea against OYO arm; Co. moves NCLAT

🕔17:36, 7.Apr 2021

New Delhi, April 7  The Ahmedabad-bench National Company Law Tribunal (NCLT) has admitted the insolvency application against OYO subsidiary, OYO Hotels & Homes Private Ltd (OHHPL). Following the development, OYO has moved the National Company Law Appellate Tribunal (NCLAT) against

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OPPO sells 1 crore ‘F’ series phones in India in 6 years

OPPO sells 1 crore ‘F’ series phones in India in 6 years

🕔17:35, 7.Apr 2021

New Delhi, April 7  As smartphone maker OPPO rides high on success, its F-series has gained major attraction and the company has sold 1 crore units of F-series smartphones in six years, a top company official said on Wednesday. According

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Relaxation for ECB borrowers amid pandemic

Relaxation for ECB borrowers amid pandemic

🕔17:33, 7.Apr 2021

Mumbai, April 7  The Reserve Bank of India (RBI) has relaxed the period of external commercial borrowing (ECB) proceeds in terms deposits. Post the decision, unutilised ECB proceeds drawn down on or before March 1, 2020 can be parked in

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GST should be citizen-friendly, provisional attachment draconian: SC

GST should be citizen-friendly, provisional attachment draconian: SC

🕔17:31, 7.Apr 2021

New Delhi, April 7  The Supreme Court on Wednesday said the taxman cannot see all businesses as fraudulent, as it made sharp observations against the manner in which Goods and Services Tax was implemented by tax authorities. A bench comprising

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IL&FS sells its environment business, reduces debt by Rs 1,200 cr

IL&FS sells its environment business, reduces debt by Rs 1,200 cr

🕔17:28, 7.Apr 2021

Mumbai, April 7  IL&FS has sold its stake in IL&FS Environmental Infrastructure & Services Limited (IEISL) and its subsidiaries to EverEnviro Resource Management Private Limited (EverEnviro), a 100 per cent owned subsidiary of the Green Growth Equity Fund (GGEF), a

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Banks allowed priority sector lending to NBFCs for another 6 months

Banks allowed priority sector lending to NBFCs for another 6 months

🕔17:27, 7.Apr 2021

Mumbai, April 7  With a view to ensure continued availability of credit to agriculture, MSME and housing sectors and aid faster economic recovery, the RBI has extended the priority sector lending (PSL) classification for lending by banks to NBFCs for

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RBI allows farmers enhanced loan on produce pledges

RBI allows farmers enhanced loan on produce pledges

🕔17:25, 7.Apr 2021

Mumbai, April 7  With a view to encourage farm credit, the RBI on Wednesday decided to enhance the loan limit for individual farmers. Individual farmers will now be eligible for an enhanced loan amount of Rs 75 lakh from banks

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RBI to publish Financial Inclusion Index

RBI to publish Financial Inclusion Index

🕔17:24, 7.Apr 2021

Mumbai, April 7  To measure the extent of financial inclusion in the country, the Reserve Bank of India will construct and periodically publish a “Financial Inclusion Index” (FI Index). The FI Index would be based on multiple parameters and shall

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Payments Banks allowed to hold Rs 2L balance per customer

Payments Banks allowed to hold Rs 2L balance per customer

🕔17:21, 7.Apr 2021

Mumbai, April 7  In a major boost to operations of the Payments Banks, the Reserve Bank of India on Wednesday doubled the limit of maximum balance that an individual customer can hold with them. Accordingly, Payments Banks can now hold

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RBI puts in quantitative easing plan to stabilise bond yield curve

RBI puts in quantitative easing plan to stabilise bond yield curve

🕔17:18, 7.Apr 2021

Mumbai, April 7  In order to ensure stable and orderly evolution of the yield curve amidst comfortable liquidity conditions, the Reserve Bank of India on Wednesday decided to put in place a quantitative easing program, pledging to buy up to

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RBI to constitute committee for review of ARC working

RBI to constitute committee for review of ARC working

🕔17:14, 7.Apr 2021

Mumbai, April 7  The Reserve Bank of India (RBI) has proposed to constitute a Committee to undertake a comprehensive review of the working of Asset Reconstruction Companies (ARCs) in the financial sector ecosystem. The committee would recommend suitable measures for

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RBI decides to open up RTGS, NEFT for payment system operators

RBI decides to open up RTGS, NEFT for payment system operators

🕔17:12, 7.Apr 2021

Mumbai, April 7  In a major move in the online payments segments, the Reserve Bank of India (RBI) has decided to allow payment system operators to take direct membership of Centralised Payment Systems (CPS), such as RTGS and NEFT. Membership

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Inflation focused RBI now moves to absorb excess liquidity

Inflation focused RBI now moves to absorb excess liquidity

🕔17:08, 7.Apr 2021

Mumbai, April 7  With an eye on inflation and surplus liquidity in the system, the RBI on Wednesday decided to conduct variable rate reverse repo (VRRR) auctions of longer maturity. The apex bank had recommenced VRRR auctions since January 15,

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RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

RBI announces Rs 50,000 cr for NABARD, NHB, SIDBI

🕔16:59, 7.Apr 2021

Mumbai, April 7  In a liquidity boost to all-India financial institutions such as NABARD and National Housing Bank (NHB), the Reserve Bank of India (RBI) has announced a liquidity support of Rs 50,000 crore to such institutions for fresh lending

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Set up vax centres in RWAs, malls, schools, airports, corporations

Set up vax centres in RWAs, malls, schools, airports, corporations

🕔12:28, 7.Apr 2021

New Delhi, April 7  NATHEALTH-Healthcare Federation of India, an apex body representing the ecosystem of the private healthcare sector, has submitted a set of recommendations to the Union Ministry of Health and Family Welfare and the NITI Aayog on the

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Equitas Small Finance Bank’s Rs 34,287 cr business in FY 21

Equitas Small Finance Bank’s Rs 34,287 cr business in FY 21

🕔12:27, 7.Apr 2021

Chennai, April 7  City based Equitas Small Finance Bank Ltd on Wednesday said it closed last year with a total business of Rs 34,287 crore. In a regulatory filing of unaudited provisional numbers the bank said last fiscal the gross

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RBI extends ‘TLTRO on Tap’ scheme by 6 months

RBI extends ‘TLTRO on Tap’ scheme by 6 months

🕔12:26, 7.Apr 2021

Mumbai, April 7 The Reserve Bank on Wednesday decided to extend the ‘TLTRO on Tap’ liquidity scheme till September 30. The scheme provides liquidity support for revival of activity in specific sectors that have both backward and forward linkages and having

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