Introduction
The article Banking Awareness One Liners November 2019 includes Banking Awareness One Liners with an explanation, analysis, and issues of current events in the month of November. And these One-Liners will help in the Competitive Exams like IBPS, RBI Grade B, SBI PO, RRB and other banking examinations.
Nov 2019
Banking:
- Yes Bank said it is in talks on a deal to sell shares worth $1.2 billion to Canadian billionaire Erwin Singh Braich and Hong Kong-based SPGP Holdings.
- RBI imposes ₹1.50-cr penalty on Corporation Bank
- RBI: Growth concerns to dominate decision making, expect 25bps repo rate cut
- Banks gave about Rs 72,136 crore to non-banking financial companies (NBFCs) from April to October 2019, as against Rs 66,222 crore in same period last year
- The Reserve Bank sent the troubled mortgage lender Dewan Housing FinanceNSE -0.54 % (DHFL) for bankruptcy proceedings, making it the first financial services player to go to NCLT for a possible debt resolution.
- With India's growth tumbling to 4.5% from 8.1% in little more than a year, you’d be surprised to know that Shaktikanta Das has one of the easiest jobs in central banking.
- Amongst the leading small finance banks (SFB) in India, Ujjivan Small Finance Bank has maintained strong Asset quality with lowest GNPA (Gross Non- performing Assets) levels at 0.85 percent and higher provisioning at 72 percent amongst peers during September 2019.
- Chanda Kochhar takes ICICI Bank to Bombay HC; hearing on December 2
- General insurance companies saw a 16 percent growth in gross direct premiums for the April to October period
- One97 Communications, that runs the digital payments platform Paytm, has posted a 165% growth in its losses to ₹3,960 crore in 2018-19
- MyPreferred Transformation and Hospitality, a joint venture set up by OYO and one of its largest backers SoftBank, has secured a ₹50-crore debt financing.
- Indian aviation regulator DGCA has reportedly told IndiGo that its pilots revving the engines on Airbus A320neo at full thrust right after takeoff may have caused issues that led to mid-flight shutdowns.
- Chinese smartphone maker Huawei is planning to sue the US Federal Communications Commission (FCC) over the latest restrictions imposed by it, The Wall Street Journal reported.
- The losses of Bengaluru-based bike taxi startup Rapido grew fivefold to ₹53.29 crores in 2018-19 from ₹10.35 crore in the preceding financial year, as per regulatory filings.
- Govt committed to make India a $5-tn economy by 2024: PK Mishra
- Former prime minister Manmohan Singh said on November 29 the GDP growth rate of 4.5 percent was unacceptable and worrisome
- Slowdown blues: Services sector only bright spot for GVA growth rate
- Senior Congress leader P Chidambaram on Saturday said the lower GDP growth rate of 4.5 percent was as predicted but warned that third-quarter will be worse.
- India's relationship with Japan is a key component of its vision for peace: Modi
- Malayalam poet Akkitham Achuthan Namboothiri has won the 55th Jnanpith Award for his "outstanding contribution towards literature"
- Coal India Limited (CIL) had been urged to enhance coal supply to industries in Chhattisgarh, which accounted for the lion's share in the company’s total output.
- Reliance Industries (RIL) has offered to buy out Reliance Infratel for Rs 3,600 crore, payable in 60 days — the highest bid of upfront cash for the company
- Zurich Airport International, which operates eight airports across the world including one in Zurich, has won the bid to build Jewar airport.
- Apple Inc is "taking a deeper look at how we handle disputed borders" after it referred to the Russian-annexed Crimean Peninsula as part of Russia in its Maps and Weather apps for Russian users
Banking:
- Former RBI governor C Rangarajan suggested that recapitalization of banks should be done through by infusing cash rather than issuing Bonds
- Carlyle Group, which owns 26% of SBI Cards, will sell a 10% stake as part of the IPO process that could value India's second-biggest credit card issuer at ₹60,000 crores.
- The HDFC Board has created a search committee to identify a successor to Managing Director Aditya Puri.
- Yes Bank share price fell 2.6 percent in the morning trade. ahead of the private lender’s board meeting to consider fundraising.
- Former RBI deputy governor becomes chairman of micro-finance panel
- Yes Bank poised to outline crucial fund-raising plans
- HDFC BankNSE 0.76 % unsecured loan portfolio has crossed Rs 1 lakh crore, which is nearly 14 per cent of the bank’s advances portfolio.
- he number of frauds at State Bank of India NSE -2.13 % (SBI), the country’s biggest mass-lender, has nearly trebled in the first seven months of this fiscal year in comparison with the whole of FY19
- Home First Finance Company (HFFC) filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI)
- Biotechnology startup working in immuno-oncology area, Zumutor Biologics, has raised $4 million in a fresh round of funding.
- Tesla's recently launched electric pickup truck Cybertruck will be joining the official fleet of the Dubai Police in 2020.
- The Bruhat Bengaluru Mahanagara Palike (BBMP) has fined Instakart, a subsidiary of Flipkart, ₹1 lakh after the company was caught on camera burning garbage on their property.
- Gold set for volatile ride in 2020 with US-China trade deal, Brexit, US elections key drivers
- Highway developer Dilip Buildcon said it has bagged a road project worth Rs 1,362.06 crore in Uttar Pradesh.
- The Indian rupee has recovered marginally from the day's low but trading lower at 71.79 per dollar
- CCI gives a go ahead to Amazon to acquire 49% in future group-owned future coupons
- Sensex slides 336 pts ahead of Q2 GDP nos, Nifty holds 12,050
- The Lok Sabha passed the National Capital Territory of Delhi (Recognition of Property Rights of Residents in Unauthorised Colonies) Bill, 2019.
- Former Japanese PM Yasuhiro Nakasone passes away aged 101
- Japan is not considering signing the Chinese-backed Regional Comprehensive Economic Partnership (RCEP) without India
- Foreign Minister Jaishankar meets Sri Lankan President Gotabaya Rajapaksa
- The Centre expects to garner Rs 30,000 crore from stake sale and land asset monetisation of THDCIL and North Eastern Electric Power Corporation (NEEPCO)
- Onion prices remain high across the major cities of the country as the average selling price ruled at Rs 70 per kg while the maximum rate of Rs 110 per kg
- The government would soon bring the tax refund scheme for exporters before the Union Cabinet and would notify it, Commerce and Industry minister Piyush Goyal
- Prime Minister Narendra Modi announced financial assistance of $50 million to Sri Lanka to deal with the challenge of terrorism after holding "fruitful" talks with Gotabaya Rajapaksa
- Cut in corporate tax rate important for investments: CEA Subramanian
- Aditya Birla Finance becomes first company to list commercial papers on exchanges
- Shares of Bharti Airtel climbed almost 3 percent on BSE after reports emerged that the company has submitted bids for the assets of Reliance Communications (RCom).
- Shares of Indiabulls Housing Finance surged 12 percent in early trade on BSE after the government affidavit filed in Delhi High Court said it did not find any irregularities in loans given to five companies.
- The Jindal scion plans for the cement and paints businesses will change the very nature of the $14 billion JSW Group that his father Sajjan Jindal founded
- NBCC's rise depends on project execution, analysts slash FY20 estimates
Banking:
- The Reserve Bank of India (RBI) may give mutual funds and non-banking finance companies access to Central Repository of Information on Large Credits (CRILC)
- Bank of Baroda said it has raised Rs 1,650 crore by issuing Basel-III compliant bonds.
- Bank Nifty breaches 32,000, hits record high; YES Bank, PNB, RBL Bank lead
- Capital that we raise will be good for us for the next couple of years: Ujjivan SFB President
- IFFCO Tokio General Insurance to double Emerging Bima Kendra count in two years
- IDBI Bank hopes to come out of PCA based on decline in net NPAs, robust capital adequacy: MD & CEO
- ICICI Bank is likely to file a consent plea for settling a case with the Securities and Exchange Board of India (Sebi) on the alleged violation of listing disclosure norms involving its former chief executive officer and managing director Chanda Kochhar and Videocon group
- Zee Entertainment Enterprises said that OFI Global China Fund LLC has consolidated its stake in the media company with the acquisition of an additional 1.37 crore equity shares.
- Autoline Industries share price was locked in 10 percent upper circuit in the afternoon trade after it signed an agreement with Kinetic Green for e-cycles.
- FMCG major Procter & Gamble (P&G) India on Thursday said it has set up a Rs 200 crore environmental sustainability fund
- 'Fibonacci retracement suggests Nifty may touch 12,250 before bears make an entry'
- ABB India said that the Bengaluru Bench of the National Company Law Tribunal (NCLT) has approved the demerger of its power grids business to ABB Power Products and Systems India Ltd (APPSIL).
- Billionaire Mukesh Ambani is in talks to sell his news media assets to India’s Times Group, as Asia’s richest man plans to unload a business that’s been losing money
- Private equity firm Warburg Pincus LLC is looking to raise up to $1.5 billion for its first fund targeting deals in India
- India's finance ministry wants the Reserve Bank of India to set up a fund to buy out stressed assets of the country's top 25 shadow lenders
- Andhra Pradesh govt hopes to get $60 million loan from World Bank for watershed project
- India's economy seen growing at 4.7% in September quarter
- After $13 billion levy ruling, future of India's tattered telecom sector hinges on government aid
- Govt seeks parliament nod to spend additional $2.7 billion in 2019-20
- Finance Minister Nirmala Sitharaman sought Parliament nod for additional spending of Rs 21,246.16 crore, including over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh, in the first batch of supplementary demands.
- The rise of Asia on the back of its rapid industrialisation will lead to a shift in the balance of global economic power by 2050, economist Deepak Nayyar said.
- Challenges ahead for most Indian non-financial companies in 2020: Moody's
- Reliance Industries (RIL) stole the limelight as it became the first Indian company to surge past Rs 10 lakh crore market capitalisation.
- Slowdown forces aggressive cost cuts at Tata Motors, co may offer VRS to 1,600 employees
- Karvy Group Chairman & MD C Parthasarathy resigns from Karvy Fintech
- The committee of creditors (CoC) of the beleaguered Jet Airways has decided to file an application before the National Company Law Tribunal (NCLT) for extending the corporate insolvency resolution process (CIRP) of the company by 90 days.
Banking:
- There seems no slowdown in the business of law as the country’s legal sector has increased its fee income by more than 62% in two years at $2.1 billion
- Economy set for measured recovery over 12 to 18 months: KVS Manian, Kotak Mahindra Bank
- Ujjivan Small Finance Bank (USFB) said its initial public offer (IPO) to raise up to Rs 750 crore will open on December 2.
- CSB Bank's ₹410 crores Initial Public Offering was subscribed nearly 87 times on the final day. The Kerala-based lender had already raised about ₹184 crores from 24 anchor investors.
- Shares of YES Bank NSE 8.39 % advanced nearly 6 percent after the lender said its board of directors will meet on Friday to consider fundraising
- Private sector lender YES Bank NSE 8.39 % has offloaded over 17 lakh shares of Reliance Capital NSE -3.22 % for Rs 2.8 crore, its third consecutive sell off in the financial servicesNSE 0.64 % firm.
- Shares of State Bank of India gained more than 2 percent on November 27 after its subsidiary SBI Cards and Payment Services
- Mumbai/Hyderabad: Markets regulator Sebi’s ban on Karvy Stock Broking has claimed the first scalp. Bowing to pressure from mutual funds, C Parthasarathy
- Bengaluru-based logistics startup BlackBuck has raised around $7.8 million (₹56 crore) in a debt and equity round from Trifecta Venture at a near-unicorn valuation of $950 million
- With commercial real estate market gaining traction, DLF's portfolio has reached a 33 million sq ft milestone
- Instagram co-founders Kevin Systrom and Mike Krieger have joined a $30-million Series B funding round of work video messenger startup Loom, which was led by Sequoia.
- A Macintosh floppy disk signed by late Apple co-founder Steve Jobs has been put up for auction by RR Auction with an estimated value of $7,500 (over ₹5.35 lakh).
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Economy:
- Only new companies involved in mainstream manufacturing will be eligible for the 15% corporate tax rate, which doesn't include surcharge and cess, according to a bill tabled in Lok Sabha.
- ISRO successfully injected the nation's most powerful civilian satellite 'Cartosat-3' in a 509 km orbit using the PSLV-C47 rocket.
- India's largest electricity trading platform Indian Energy Exchange (IEX) is planning to unveil the country's first natural gas exchange by March 2020.
- The All India Muslim Personal Law Board (AIMPLB) has announced that it will file a review petition against the Ayodhya verdict in the first week of December.
- chief minister Reddy held a meeting of the Capital Region Development Authority, and ordered officials to resume construction works at Amaravati based on priorities and budgets.
- NASA shared that European Space Agency astronaut Luca Parmitano performed initial tests of the second Astrobee robot, named Honey, aboard the International Space Station (ISS).
- Walmart-owned e-commerce company Flipkart has introduced a ‘smart assistive interface’ feature called ‘Flipkart Saathi’ to support first-time e-commerce users
- Ashok Leyland, the flagship of the Hinduja Group, has bagged an order from Tamil Nadu STU (Tamil Nadu State Transport Undertakings) for 1750 buses.
- Biotechnology major Biocon on Wednesday said that US health regulator has approved its and Mylan's supplemental biologics license application for a drug substance
- Amid ongoing turbulence in the telecom sector, Trai chairman on Wednesday met heads of telcos, including Vodafone Idea CEO, to identify priority issues that will be taken up by the regulator in 2020.
Banking:
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RBI has asked banks to link their lending interest rates to any of the four external benchmarks:
- SBI Mutual Fund, India’s largest equity investor among all asset management firms, will stick to its SLR thesis despite the cut-throat competition in the industry, insists Ashwani Bhatia
- RBI Deputy Governor MK Jain said that banks should keep a check on loans under the MUDRA category, over concerns of growing non-performing assets (NPAs) in the segment.
- Private lender YES BankNSE 8.31 % said its board will meet on Friday to consider and approve raising funds by issue of equity or equity-linked securities.
- Initial Public Offering (IPO) by CSB Bank saw heavy demand from all class of investors and was subscribed 86.92 times
- SBI Card, the country's second-largest credit card issuer, and Vistara, a full-service carrier, have joined hands to launch a one-of-its-kind premium credit card for travel-savvy urban Indians.
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i. RBI's repo rate
ii. Government of India 3-months Treasury bill yield published by Financial Benchmarks India Pvt. Ltd. (FBIL)
iii. Government of India 6-months Treasury bill yield published by FBIL
iv. Any other benchmark market interest rate published by FBIL
- Investor wealth rose by ₹1.81 lakh crore as the BSE benchmark index Sensex surged 530 points to hit a fresh closing high of 40,889.23.
- Foreign investment in Pakistan's bonds surged to a record $642.5 million in November, more than what global investors put into the debt in the past four years.
- Finland's Salcomp, a major supplier of chargers to Apple for its iPhone, has bought Nokia's defunct handset factory in Sriperumbudur near Chennai for ₹215 crores.
- The Indian rupee is the only emerging market Asian currency to weaken this quarter. The local currency, which has slumped nearly 5% from this year's high in July, dropped to 72.2425 per dollar earlier this month
- A carpet made using Bengaluru's marigold flowers that were laid out at the Dubai Festival City entered the Guinness World Records as the largest natural flower carpet in the world
- Maharashtra Governor Bhagat Singh Koshyari appointed BJP MLA Kalidas Kolambkar as Pro-tem Speaker of the Assembly.
- Union Minister G Kishan Reddyintroduced a bill in the Lok Sabha to merge the two Union Territories (UTs) of Daman and Diu, and Dadra and Nagar Haveli.
- Union minister Piyush Goyal said India's service sector can help achieve the Central government's target of USD 5 trillion GDP.
- Taking an apparent dig at former Maharashtra CM Devendra Fadnavis after his resignation, Congress leader Shashi Tharoor tweeted the #WordOfTheDay 'Zugzwang'.
- Filmmaker-actor Hemwant Tiwari won the Best Noir Feature award for his film 'The Fox' (Lomad) at the Genre Celebration Festival in Japan.
- Hospitality startup OYO Hotels and Homes' board at Oravel Stays has approved a primary capital infusion of $1.5 billion from two of its institutional stakeholders
- Malaysia's sovereign wealth fund Khazanah Nasional has sold stakes worth $1.36 billion in seven foreign firms including Alibaba Group in the first 16 months of the current government.
- Shares of Reliance Naval and Engineering, part of Anil Ambani-led Reliance Group, have jumped nearly 1000% since hitting a record intra-day low on September 11.
- The shares of Mukesh Ambani-led Reliance Industries (RIL) rose around 1% to reach a record high of ₹1,576 in early trade.
Banking:
- DCB Bank said it has a non-funded exposure of Rs 30 crores in the form of bank guarantees issued on behalf of Karvy Stock Broking Ltd.
- The Reserve Bank of India (RBI) has asked Yes Bank to examine the "fit and proper" status of the lender's audit committee head Uttam Prakash Agarwal
- U GRO Capital, a tech-enabled lender to small businesses, has signed a loan co-origination partnership with State Bank of India (SBI)
- India's GDP growth is likely to slow down further to 4.3 percent in the third quarter of 2019-20 compared to 5 percent in the second quarter, said Singapore's DBS Bank.
- The initial public offering by CSB Bank, which got subscribed on Day 1 itself, received 1.7 times subscription
- We have credit cards, debit cards, prepaid cards and a first of its kind -- an easy EMI card -- for the millennials, says Parag Rao, Country Head - Payments Business & Marketing, HDFC Bank
- Shares of Federal Bank (up 1.42 percent), Kotak Mahindra BankNSE 2.01 % (up 0.89 percent), RBL BankNSE 0.17 % (up 0.88 percent) and IndusInd Bank (up 0.77 percent) were the top performers in the index.
- The inclusion of Non-Banking Finance Institutions (NBFIs) in the Insolvency and Bankruptcy Code (IBC) is credit positive for India’s banks, says Moody’s
- The banks will be in a position to support the growth in the economy to a very greater extent, the Provision coverage ratio of banks has improved to more than 70%: Dinesh Kumar Khara, MD, SBI.
- Shares of State Bank of India (SBI) hit an over three-month high of Rs 335, up 2 percent on the BSE
- RBL Bank is looking to raise as much as Rs 2,000 crore through a qualified institutional placement (QIP), Mint
- Indian economy is firming up, banking system safe: SBI, HDFC Bank chiefs
- The 30-share BSE index Sensex gained over 450 points to hit a new all-time high of 40,857.73 in intra-day trade, Nifty crosses 12,000-mark
- Solar projects developer Avaada Energy said it has secured USD 15 million (around Rs 107.55 crore) funding from French development finance institution Proparco.
- Bahrain-based alternative asset manager Investcorp has closed a ₹323-crore funding round in Hyderabad-based dialysis services and kidney care provider NephroPlus
- Godrej Appliances on Monday said it will invest Rs 700 crore to increase its annual appliance production capacity by 19 lakh units by 2022, taking it up to 65 lakh units per annum.
- ITD Cementation India said it has bagged orders worth over Rs 3,400 crore from various government entities.
- The Department of Telecommunications (DoT) has set up an internal committee to examine the impact of the increase in tariff hikes that Vodafone Idea, Bharti Airtel, and Reliance Jio have announced and will come into effect on December 1.
- The 'phase two' of a US-China trade deal is unlikely to happen soon, as the two nations struggle to reach a preliminary 'phase one' agreement
- chit fund sector now on a firm legal pedestal with the recent passage of the Chit Funds (Amendment) Bill, 2019 At the heart of this growth is the quest for the gold mine of data hidden in the sector, running into several million.
- The government has asked Coal India to produce at least 2 mmscmd of coal bed methane gas in the next two to three years, according to an official.
- Best of BS Opinion: The unedifying drama over government formation in Maharashtra reminds us afresh of the moral bankruptcy of our political leaders.
- The world's leading luxury goods company LVMH Moët Hennessy Louis Vuitton SE is buying US-based jeweler Tiffany & Co for over $16 billion. LVMH's Chairman and CEO Bernard Arnault said
- Noida-based digital payments startup Paytm has raised $1 billion in a Series G round of funding led by US-based asset manager T Rowe Price.
- The board of Oravel Stays, which owns and operates Oyo Hotels & Homes, has cleared a $1.5 billion primary capital infusion into the company by its largest institutional stakeholder, Soft-Bank Vision Fund, and founder Ritesh Agarwal’s RA Hospitality.
- WeWork is in the news, yet again. Barely a day after the co-sharing workspace company earned bad press following the axing of 2,400 people, it has courted controversy.
- Adani Green Energy said its chief financial officer (CFO) Ashish Garg has resigned with immediate effect.
- Tata Steel is looking to raise $1.75 billion (equivalent of about Rs 12,563 crore) in syndicated offshore loans through its European unit
- Amazon.com Inc said it will open a pop-up store on Chinese e-commerce platform Pinduoduo Inc that will run until the end of December and carry a selection of about 1,000 products from overseas.
Banking:
- RBI Enhances Scope Of Non-Resident Rupee Accounts
- To popularise cross-border transactions in Indian rupee, the Reserve Bank of India has enhanced the scope of 'Special Non-resident Rupee'.
- The SBI has reportedly completed the proof-of-concept for Unified Payments Interface (UPI)-based payments through WhatsApp Pay.
- Government plans to amend IBC to ring-fence buyers of stressed assets from prosecution
- EFSL said the public issue of secured redeemable non-convertible debentures (NCDs) aggregating up to ₹500 crores by its non-banking finance company arm
- The Reserve Bank of India, superseded the board of directors of DHFL and appointed former banker R Subramaniakumar as the Administrator.
- Yes Bank disclosed divergence in reporting of non-performing assets (NPAs) at Rs 3,277 crore for the financial year 2018-19
- Strategy set-up: Delta neutral and theta depreciating short straddle in SBI
- BSE, announced the introduction of a non-competitive bidding facility in state development loans (SDLs) to retail investors.
- India's gold imports, which have a bearing on the current account deficit (CAD), dipped 9 percent to USD 17.63 billion
- Italy: Steelmaker ArcelorMittal has agreed to immediately restart talks with the Italian government over the future of the Ilva plant, Prime Minister Giuseppe Conte said
- After Jet Airways' demise, Lufthansa plans to 'strengthen' partnerships with Indian airlines
- Reliance Communications said its lenders have rejected the resignation of Chairman Anil Ambani and four other directors
- Govt's privatization plan may end complex cross-holding in oil PSUs
- The government is considering cutting the reserve price of rice by almost Rs 500 per quintal for bulk buyers to boost its sale through the open market.
- BJP leader and former Madhya Pradesh Chief Minister Kailash Chandra Joshi passed away at the age of 90 due to an age-related ailment in Bhopal
- Tesla CEO Elon Musk revealed that orders have been placed so far for the all-electric 'Cybertruck', amounting to around $14.6 million in deposits.
- Bajaj Auto MD Rajiv Bajaj has said that the creation of electric vehicle (EV) demand is the job of automotive manufacturers and not the government.
- State-run power giant NTPC is likely to raise around Rs 10,000 crore through green bonds for the acquisition of the government's stake in THDCIL and NEEPCO
- After sacking founder, Gautam Thapar as the chairman of the company, fraud-hit CG Power & Industrial Solutions has moved to declassify him as the promoter
- Bharti Airtel has estimated that non-telecom companies including public sector units (PSUs) have to fork out as much as Rs 2.27 trillion of AGR.
Banking:
- India's largest private-sector lender HDFC Bank is investing around ₹7 crores in Pune-based fintech startup Lentra AI.
- Investigators into the Punjab and Maharashtra Cooperative (PMC) Bank fraud have detected another borrower — the Abchal Group
- Gold loan financier Muthoot Finance has agreed to acquire IDBI Mutual Fund to foray into the mutual fund segment. As per the deal, it will acquire 100% shareholding in IDBI Asset Management for ₹215 crores
- An SBI branch in Madhya Pradesh's Bhind district opened two accounts with the same number of two people with the same name.
- The Enforcement Directorate has arrested Sanjay Singal, former CMD of Bhushan Power and Steel (BPSL), in connection to a multi-crore money laundering probe.
- India's first gaming unicorn Dream11 saw its losses double to ₹131.64 crores in 2018-19 from ₹65.12 crores in the previous financial year.
- Flipkart-owned fashion e-tailer Jabong has narrowed its losses by almost 5% to ₹179 crores in the financial year ended March 2019.
- Google announced that it'll pay up to $1 million to security researchers and hackers who find specific bugs
- India's forex reserves rose by $441 million to a fresh lifetime high of $448.249 billion in the week to November 15 on an increase in core currency assets, RBI data
- The country's urban unemployment rate between January and March this year fell to 9.3 per cent, as per an unpublished government report.
- BJP MP from Uttarakhand's Nainital-Udhamsingh Nagar constituency Ajay Bhatt introduced The Population Control Bill, 2019
- The Bill, if passed, will deprive couples with more than two children of the right to apply for government jobs, along with a fine of ₹50,000.
- Researchers from California Institute of Technology (Caltech) and NASA's JPL developed a 'transforming' drone called SQUID that can be launched from moving launchpads.
- Andhra Pradesh government canceled licenses of all 798 bars in the state as part of its promise to implement total prohibition.
- Gross domestic product (GDP) in India at current prices needs to grow by 12.4 percent annually over the next five years for the country to be a $5-trillion economy by 2024-25
- Sowing of the gram, one of the biggest pulses grown during the rabi season, was around 22 percent less than the same period last year
- Care Ratings has downgraded Vodafone Idea's rating on its long-term bank facilities and non-convertible debentures (NCDs) post the SC judgement to pay ₹92,000 crores.
- Amazon filed a lawsuit formally challenging the loss of Pentagon's JEDI defense contract worth up to $10 billion over 10 years, to Microsoft.
- Samsung Heavy Industries has agreed to pay more than $75 million in criminal penalties to resolve a United States
- WeWork outlined a six-point path to profitability, though the money-losing flexible office space operator said it will not be cash flow positive until 2023
- Ashoka Buildcon arm gets NHAI's LOA for highway project worth Rs 1,000-cr
Banking:
- Demand for junk bonds is picking up, mostly from overseas banks such as Barclays and Deutsche Bank, reflecting a surge in the market for high-yield, high-risk paper.
- CSB Bank's initial public offerings (IPO) got subscribed by 30 per cent of offer. The public offer received bids for 34,28,175 shares
- CSB Bank has raised Rs 184.36 crore by allotting 94.54 lakhs shares to 24 anchor investors ahead of its initial public
- Shares of RBL Bank rallied six per cent intraday on November 22 and was, in fact, the second topmost gainer in the BSE Midcap index.
- Indian banks set to take a hit of Rs 36,000 crore from DHFL writeoff
- Shrikant Chouhan of Kotak Securities Limited has a buy call on HDFC Bank NSE -1.45 % Ltd. with a target price of Rs 1345.0. The current price of HDFC Bank Ltd. is Rs 1345.0.
- DHFL: RBI appoints a 3-member advisory panel to support administrator
- Physical branches are an important delivery channel for Kotak Bank: Shanti Ekambaram
- Public sector banks disbursed a record Rs 2.53 lakh crore in loans in October as part of outreach programmes across 374 districts in the country
- Blackstone Group Inc’s Indian sub-prime mortgage lender plans to exit its small builder financing business at a time when the pain from the nations credit crunch abounds, with another victim claimed this week
- The Indian rupee recovered from the lows and trading flat at 71.78 per dollar, with domestic equity market trading lower.
- Eicher Motors share price gained 1.6 per cent intraday on November 22 after Motilal Oswal advised buying the stock with a target of Rs 25,000
- Fitch Ratings says recent relief from the government and tariff hikes will not help telcos offset the impact of dues they have to pay in next three months
- Oil giant Aramco has attracted around $19.47 billion (73 billion riyals) in institutional and retail subscriptions so far, said Saudi Arabia's Samba Financial Group
- Closing Bell: Nifty holds 11,900, Sensex falls 215 pts; metal stocks shine
- ICRA expects India's growth rate to fall to 4.7 percent in Q2 of FY20, amid weak demand and tepid investment.
- The Centre has released Rs 836.64 crore out of the sanctioned allocation of Rs 900 crore under a financial assistance program for vital health projects in Jammu and Kashmir
- China revised up its nominal 2018 gross domestic product (GDP) by 2.1% to 91.93 trillion yuan ($13.08 trillion)
- Sugarcane farmers in UP were trained to conserve water. 275 billion litres was saved in 3 years
- Supply of coal by state-owned CILNSE -4.73 % to the power sector registered a decline of 8.5 percent to 253 million tonnes in the April-October period
- Former RBI Governor C Rangarajan said that India becoming a $5 trillion economy by 2025 at the current growth rate is "simply out of question".
- Installations in the Indian solar market rose by 36 per cent year-on-year during the third quarter of the calendar year 2019, reaching 2,170 Mw from 1,592 Mw a year ago. Compared to the second quarter of 2019
- DHFL: India's bankruptcy-resolution process has just begun to find its feet with recent precedent-setting court rulings, but bankers, lawyers and insolvency experts say the system is about to face a huge test.
- Microsoft said the US government has granted its request for a licence to export "mass-market" software to Chinese telecom equipment maker Huawei.
- The Mahindra Group is reportedly close to taking a final call on the sale of its solar assets. As per reports
- Kumar Mangalam Birla loses $3 bn as Voda-Idea's mounting debt takes toll
Banking:
- CSB Bank’s Rs 410 crore initial public offering (IPO) will open for subscription. The lender, which was founded in 1920, is one of the oldest private sector banks in India.
- Kumbakonam (Tamil Nadu)-headquartered old private sector lender City Union Bank (CUB) will be celebrating its 115 years of operations
- Various bank unions plan to stage dharna on December 10 in front of the Parliament to protest against the government decision to merger 10 public sector banks.
- DBS Bank India Ltd is expanding its footprint. From about 70 touch-points now, DBS expects to have 100 touch-points in the next six to 12 months across 25 cities
- The Reserve Bank of India has imposed a monetary penalty aggregating to ₹1.75 crores on Indian Bank for non-compliance with the directions issued by it on the opening of Savings Bank accounts of a co-operative society
- The Indian rupee is trading marginally higher at 71.78 per dollar, with domestic equity market remain flat.
- In a day of mixed developments at stressed home financier Altico Capital, one of its three owners proposed to infuse up to Rs 1,000 crore as equity capital
- Japan's Sony Corp is in talks to acquire a stake in billionaire RIL Chairman Mukesh Ambani's TV business Network18 Media & Investments
- The NSE Nifty 50 index fell 0.2 per cent to 11,978, while the S&P BSE Sensex was down 0.1 per cent at 40,630.16.
- The Centre approved the Industrial Relation Code Bill, which is the third code under labour reforms.
- Apple announced it has begun the construction of its new $1-billion campus in Austin, US, spread across 3-million-square-foot. The campus will initially house 5,000 employees
- Gold prices held steady, supported by concerns that US legislation on Hong Kong could increase tensions between the United States and China and delay an interim trade deal.
- IOC, other PSUs not to bid for a stake in BPCL: Oil minister Pradhan
- The government’s ambitious Rs 1-trillion station redevelopment program is likely to get funding from the Indian Railway Finance Corporation (IRFC) and the World Bank.
- The government is expected to launch India’s first fixed income Exchange Traded Fund (ETF) in December
- The government doled out a Rs 42,000 crore relief to debt-laden telecom companies after it agreed not to make any payments for the spectrum they use for the next 2 years.
- Govt announces relief for ailing telcos, approves divestment of 5 PSUs including BPCL
- The Union Cabinet has approved the privatization of India's second-largest state oil refiner and fuel retailer Bharat Petroleum Corporation (BPCL), excluding its 61.7% stake in Assam's Numaligarh Refinery.
- The Indian Council of Medical Research (ICMR) successfully completed clinical trials of the world's first injectable male contraceptive RISUG, which is potently effective for about 13 years
- US President Donald Trump's administration has approved the sale of $1 billion worth of naval guns to India. The government had made a request to buy 13 MK 45 naval guns and 3,500 D349 Projectile ammunition
- BJP Lok Sabha member Pragya Singh Thakur has been made part of the Parliamentary Consultative Committee of the Ministry of Defence. The committee, which consists of 21 members
- A group of 214 scholars, largely economists, working around the world have written an open letter asking the Centre to release all reports and data from the National Sample Survey Office that have been internally approved.
- Apple and Intel filed an antitrust case against SoftBank Group-owned Fortress Investment Group.
- The technology giants alleged that Fortress stockpiled patents to hold up technology companies with lawsuits demanding as much as $5.1 billion.
- Oil & Natural Gas Corp (ONGCNSE -1.91 %), India’s largest fuel explorer, plans to raise at least $500 million in a dollar bond sale as soon as next week to refinance part of its debt
- Food delivery major Swiggy said that it will invest Rs 75 crore over two years to expand its network of cloud kitchens across the country.
- Svami, a company that makes non-alcoholic, aerated beverages, has raised Rs 7.5 crore in Pre-Series-A funding.
- Cube Highways has emerged as the highest bidder for the third bundle of the toll-operate-transfer (TOT) projects offered by the National Highways Authority of India (NHAI) by quoting Rs 5,011-crore fee.
Banking:
- NCLAT rejects DBS Bank's plea challenging distribution of funds from Ruchi Soya resolution plan
- NEW DELHI: PSBs reported fraud worth 958 billion rupees ($13.3 billion) from April to end-September of this year, the country's finance minister said
- In a detailed affidavit filed before the Bombay High Court, the Reserve Bank of India (RBI) has virtually admitted that it was 'cheated' by the management of the scam-hit PMC Bank.
- Shares of RBL Bank (up 5.02 percent), IndusInd Bank NSE 5.50 % (up 3.26 percent), Bank of Baroda NSE -0.10 % (up 2.07 percent) and IDFC First Bank (up 1.99 percent) were trading in the green.
- Sagar Doshi of Edelweiss Financial Services NSE 1.87 % has a buy call on Bank of Baroda NSE -0.10 % with a target price of Rs 107.0. The current price of Bank of Baroda is Rs 107.0.
- Fintech startup Aye Financ said it has raised Rs 125 crore from Dutch entrepreneurial development bank FMO through the issuance of non-convertible debentures.
- YES Bank’s adjusted net profit for FY2019 has come down by Rs 636 crore to Rs 1,084 crore following the disclosure of divergence
- The Kerala State Committee of All-India Bank Officers’ Confederation (AIBOC) has demanded an immediate end to frequent obstructions to the discharge of bankers' duty by political parties
- The Reserve Bank employee's unions urged the government to hike the insurance cover on bank deposits from the present Rs 1 lakh to Rs 10 lakh.
- China will step up credit support to the economy and push real lending rates lower, the central bank governor Yi Gang said
- Indian lenders are staring at a provisioning cascade of more than Rs 30,000 crore in the March quarter as they struggle to meet the regulatory deadline on the resolution of companies that failed to repay within the time limit.
- The Sensex gained more than 295 points to hit a new all-time high of 40,769 in early trade, while the Nifty reclaimed the 12,000-mark.
- Delhi-based co-working space provider myHQ has raised $1.5 million in a Pre-Series A funding round led by investment firm India Quotient.
- India's first billion-dollar startup or 'unicorn', Bengaluru-based InMobi, is in talks to acquire Tiger Global-backed video app Roposo, Entrackr reported.
- Microsoft's India-born Chief Executive Officer Satya Nadella has occupied the top spot in Fortune's Businessperson of the Year 2019 list
- Swiggy set up 1,000 cloud kitchens; to expand it in 12 new cities by March 2020
- Railway coach factory in Uttar Pradesh's Rae Bareli tested an indigenously-made humanoid robot 'Sona 1.5' on November 18. The factory aims to employ the robot to transport documents from one spot to another
- The Indian Air Force's (IAF) mobile video game "Indian Air Force: A Cut Above" has been selected by Google to compete for "Best Game-2019" in the "Users' Choice Game" category.
- The Chhattisgarh government has assured state-run National Mineral Development Corporation (NMDC) of renewing mining leases in the Dantewada district for another 20 years.
- The Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) and the Intelligence Bureau (IB) are among 10 central agencies that can intercept citizens' communications, the government has informed the Lok Sabha
- The government is planning to offer incentives to 324 companies including Tesla to build factories in India, according to a document seen by Bloomberg.
- Economic losses in Kashmir have run well over a billion dollars since India revoked its autonomy and statehood in August
- SC rewarded the very violator it named in Ayodhya ruling: Faizan Mustafa
- India's sugar production declined 64 percent to 4.85 lakh tonnes till November 15 in the current marketing year that started last month as mills in Maharashtra
- California-based startup Karma Automotive unveiled its hinge-winged all-electric concept car 'SC2', that can deliver 1,110-horsepower and go from 0 to nearly 100 kmph in 1.9 seconds.
- Asia's richest person Mukesh Ambani-led Reliance Industries has surpassed BP to become the world's sixth most valued oil company. Reliance is now valued at $138 billion
- The new Audi A6 was recently launched in India. The 2-litre TFSI engine generates 180 kW of power and a torque of 370 Nm.
- After BSNL, MTNL's VRS gets a strong response, 13,500 staffers opt for a scheme
- Sun TV Network expects to get 20 million subscribers for its over-the-top (OTT) platform Sun NXT by year-end
- Flipkart invests Rs 30 crore in customer engagement firm EasyRewardz
Banking:
- ICICI Bank is looking to raise around Rs 20,000 crore by selling six-to-seven percent stake to institutional investors and has approached at least 10 investment banks
- SBI Life Insurance Company share price fell 5.6 percent intraday
- Kerala-based CSB Bank (erstwhile Catholic Syrian Bank) will open its initial public offering for subscription on November 22, at a price band of Rs 193-195 per share.
- Yes Bank share price declined more than 4 percent intraday after promoters sold their remaining stake in the private lender.
- Gold loan lender Muthoot Finance is in advanced negotiations to acquire IDBI Bank's mutual fund unit: IDBI Asset Management, reports Mint.
- MUMBAI: The Reserve Bank said Aditya Birla Idea Payments Bank is headed for liquidation post application by the company for voluntarily winding up.
- NEW DELHI: The Reserve Bank can now seek resolution of non-banking financial companies having assets worth of at least Rs 500 crore under the insolvency law, a move that is likely to help in addressing woes in the NBFC sector.
- The RBI has responded by cutting rates by 110 bases to a nine-year-low of 5.40 percent since April courtesy low inflation.
- Performance-linked incentives (PLI) are set to become the buzzword for about eight lakh public sector bank employees which they may receive from the next fiscal over and above of their revised salary which is under negotiation at present.
- NEW DELHI: Rana Kapoor-led promoter entities YES Capital and Morgan Credits have sold their remaining 0.8 percent stake in private lender YES Bank NSE -2.28 %
- PATNA: A study by the Export-Import Bank of India has said that there is an untapped export potential of nearly USD 900 million from Bihar and if it is realized, the shipment from the state could exceed USD 2 billion in the short term.
- Bandhan Bank NSE -4.17 % founder Chandra Shekhar Ghosh was in for a rude shock. The regulator came down heavily on him and the bank he had founded for his failure to pare down the promoter stake to the prescribed 40%.
- MUMBAI: The Supreme Court’s judgment in the Essar Steel case will benefit banks in terms of writebacks but aging-related provisions from old accounts, stress from companies such as DHFL and new stress emerging from sectors like telecom will keep bank provisions elevated
- Dharmesh Shah of ICICI Direct has a buy a call on State Bank of India with a target price of Rs 344.0. The current market price of State Bank of India is Rs 325.2
- CK Narayan of Chart Advise has a buy call on Federal Bank Ltd.NSE 1.15 % with a target price of Rs 91. The current market price of Federal Bank Ltd. is Rs 86.95.
- Independent analyst Kunal Bothra has a buy call on Bank of India with a target price of Rs 76. The current market price of the Bank of India is Rs 71.3.
- The Indian rupee recovered from the day's low and trading flat at 71.85 per dollar, with domestic equity market trading higher.
- Uber Chief Product Officer (CPO) Manik Gupta announced today he is leaving the ride-hailing giant, with December 13 as his last day
- Swiggy and Zomato have revived talks aimed at a merger, people connected with the development told *Tech2*
- Trends on SGX Nifty indicate a negative start for the broader index in India, with a 28 points gain. Nifty futures were trading around 11,895 levels on the Singaporean Exchange.
- Assets worth Rs 21.96 crore were attached under the anti-money laundering law in an alleged corruption case related to the widening of the NH-74 in Uttarakhand and Uttar Pradesh
- ISRO has announced that its PSLV-C47 rocket will launch the 'Cartosat-3' and 13 nanosatellites of the US from Satish Dhawan Space Centre in Sriharikota on November 25
- While speaking about his recent meeting with Bihar CM Nitish Kumar, Microsoft co-founder Bill Gates said he was impressed with Kumar when the latter raised concern over climate change
- The Uttar Pradesh government is planning to rename Agra to Agravan, according to reports.
- Amazon Founder and CEO Jeff Bezos will visit India in January 2020 to flag off the e-commerce giant's annual event around Small and Medium Enterprises (SMEs).
- The Delhi International Airport Ltd (DIAL), a GMR-led consortium, has received the green nod from the Environment Ministry for the development of two commercial buildings in Aerocity at an investment of about Rs 1,310 crore
- Singtel posted a second-quarter loss of S$668 million (USD 491.29 million) hurt by a one-time charge recorded by India’s Bharti Airtel.
- Oil-telecom-to-retail major Reliance Industries became the first company among listed entities on exchanges to hit a market capitalization of Rs 9.5 lakh crore.
- The Securities and Exchange Board of India (SEBI) is mulling a shift from the ‘outdated’ promoter concept to ‘controlling shareholders’ for listed companies
- The share price of IndiGo operator InterGlobe Aviation fell 1.5 percent intraday
- Tata Motors, announced its partnership with electric vehicle (EV) fleet operator, Lithium Urban Technologies
- Following the Supreme Court verdict on the Essar Steel resolution plan, global steel giant ArcelorMittal said expects to complete the acquisition of the debt-ridden company by the end of this year.
Banking:
- Soon after taking over as RBI governor almost a year ago, Shaktikanta Das decorated his 18th floor office overlooking the Arabian Sea with two statues of Lord Jagannath, a form of the Hindu god Vishnu.
- We will see a healthy uptick in the broader markets next year, but stock selection will be critical. Be sure of the business model, management and sustainability before investing, Dhiraj Relli MD & CEO, HDFC
- Bank deposit insurance in the country may be split into two categories, with the retail cover being raised to Rs 5 lakh, from the current level of Rs 1 lakh; and a new scheme being introduced for wholesale depositors at Rs 25 lakh.
- Growing retail participation in equity markets may point to flight from bank deposits: SBI
- Early declaration of quarterly results by some of the large Indian banks could be an indicator of the improvement in asset quality cycle, according to State Bank of India
- ‘This is the best time to switch from MCLR to repo-rate-linked home loans:’ Bank of Baroda
- Inditrade Capital, a digitally-driven lending non-banking finance company, expects its agriculture and micro-finance business to double this year given the general liquidity concern in the industry.
- Seeking to end deep discounting issues on e-commerce platforms, the Confederation of All India Traders (CAIT) has urged the government to introduce a minimum operating price and uniform policy for discounts.
- Foreign institutional investors have shown more confidence in Indian real estate, especially commercial real estate over the past five years, while domestic investors continued to invest largely in the residential space.
- Silicon Valley-based Norwest Venture Partners — an investor in Uber, Spotify and Swiggy — raised $2 billion last week, its largest corpus so far. Promod Haque
- India is looking to lower advance payments and offer larger mining blocks to attract global companies to invest in its coal sector for the first time, but industry sources say the measures may not be enough to draw in big international miners.
- Indian low-cost carrier SpiceJet Ltd. is in talks with Boeing Co. to buy more 737 Max aircraft to feed its expansion plans, a deal that could mark a Dubai Airshow coup for the grounded narrow-body.
- The benchmark Sensex opened higher at 40,431.08, from its Friday's close of 40,356.69. The Nifty also added 35.80 pts to trade at 11,931.25.
- TikTok owner Beijing ByteDance Technology Co Ltd is in talks with big music labels - Universal Music, Sony Music, and Warner Music - for global licensing deals to include their songs on its new music subscription service
- Uttar Pradesh power engineers and employees proceeded on a 48-hour work boycott’ on Monday against the illegal investment of more than Rs 4,100 crore of their provident fund (PF) corpus in scam-hit Dewan Housing Finance Corporation Limited (DHFL).
- “We had asked for Rs 3,000 an acre or Rs 200 for every quintal of paddy so that we could employ more people to uproot the stubble after harvesting the crop.
- The National Energy Policy (NEP), being drafted by the NITI Aayog, will become the guiding policy for all energy ministries. Encompassing regulations for coal and mines, renewable energy, oil and gas, and the environment, the NEP will be put up for the Union Cabinet soon.
- Asian shares ticked higher on Monday after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that further stimulus was on the way for the world's second-largest economy.
- Sharad Arvind Bobde was sworn-in as the 47th Chief Justice of India at the Rashtrapati Bhavan. CJI Bobde has in the past served as Additional Judge at the Bombay High Court
- The International Association of Athletics Federations (IAAF) will now officially be known as World Athletics, a statement said. The IAAF was founded in 1912 as the International Amateur Athletic Federation but changed its name to the International Association of Athletics Federations in 2001.
- The Indian rupee appreciated by 19 paise to 71.59 against the US dollar in early trade tracking gains in the domestic equity market and weakening of the American currency vis-a-vis other currencies overseas.
- WeWork is preparing to cut at least 4,000 people from its workforce as it tries to stabilize itself after the company’s breakneck growth racked up heavy losses and led it to the brink of collapse
- State-run National Mineral Development Corporation (NMDC) Limited heaved a sigh of relief as the Chhattisgarh government decided to renew the lease of four mines that were at stake following development in Karnataka.
- Two-and-a-half years after the Indian central bank took the highly unusual step of directing banks to put 12 large corporate debtors into bankruptcy, the most closely watched of the "distressed dozen" cases has finally been resolved.
- Indian pharmaceutical companies need to rework their chain of work because of the US-China trade war and China exiting polluting sectors like chemicals, said G V Prasad
- Bharti Airtel and Vodafone Idea saw some improvement in the September quarter, led by a fall in operating and capital expenditures. Airtel reported a steep 51 percent dip in consolidated Capex over the year-ago quarter
- Edelweiss Financial Services will transfer wholesale loans worth Rs 2,000 crore to Alternate Asset Fund for real estate completion financing as it shrinks corporate credit portfolio by 50-60 percent over the next two years.
- Standard & Poor’s has revised its outlook on Tata Steel UK Holdings (TSUKH) from “positive” to “stable” in line with parent Tata Steel.
Banking:
- Mortgage lender LIC Housing Finance (LIC HFL) has set a retail loan disbursement target of Rs. 55,000 crore for the current financial year
- State-owned Bank of India and Indian Overseas Bank have reported divergences in their bad loans for the fiscal ended March 2019, resulting into the widening of net losses for the year.
- Nabard has headroom to raise about Rs 35,000 crore from the market during the remaining months of the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the government
- One of the directors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank, Rajneet Singh, son of ex-BJP MLA Sardar Tara Singh, was on November 16 arrested
- West Bengal Finance Minister Amit Mitra on November 16 said the World Bank has prepared and submitted a conceptual master plan for the development of logistics infrastructure within the city metropolitan area.
- Banking wrap: Lenders cheer SC ruling in Essar Steel case; Indian banks add bad loans of Rs 1 lakh cr in H1FY20
- Signature Global to invest Rs 400 cr in 2 affordable housing projects in Gurugram
- New Delhi: Six of the 10 most valuable domestic companies together added a staggering Rs 2.4 lakh crore in market capitalization last week, with TCS grabbing the lion's share.
- In order to boost compliance, the government may reportedly lower fines on startups, smaller entities and farmer producer organizations under the Companies Act.
- Jumbotail, online food and grocery marketplace for wholesale buyers, has raised ₹14.2 crores from its existing investor Nexus Venture Partners, as per the filings accessed by Inc42.
- Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, short of the $2 trillion targets set by Crown Prince Mohammed bin Salman in 2016.
- Days after Stanley Deal took the helm of Boeing Co.’s jetliner business last month, he was winging across the globe to meet with the airline bosses most shaken by the deadly crashes that have plunged the manufacturer into crisis.
- The situation in Jammu and Kashmir, economic slowdown, unemployment and the government's plan to bring the Citizenship Bill in the Winter session of Parliament beginning Monday
- State-owned firms should be subjected to governance standards on par with private players to ensure a level-playing field as "excessive scrutiny" by the CVC, CAG and the threat of a CBI probe often leads to stalled or over-cautious decision-making in PSUs, according to industry body CII.
- Finance Minister Nirmala Sitharaman said the government would wrap up the sale of Air India and Bharat Petroleum Corporation Limited (BPCL) by March 2020
- The Department for Promotion of Industry and Internal Trade (DPIIT) has prepared an initial draft industrial policy which targets to raise value addition in the manufacturing sector to USD 1 trillion by 2025
- Andhra Pradesh CM YS Jagan Mohan Reddy's YSR Congress Party (YSRCP) paid ₹37.5 crore as "service and consultancy charges" to political consultancy Indian Political Action Committee (I-PAC), founded by Prashant Kishor.
- Israel launched airstrikes targeting Hamas in the Gaza strip after two rockets were fired from there. The new attacks on Gaza come days after Israel and the Islamic Jihad militant group agreed to a ceasefire.
- Sales of renewable energy certificates dipped 2.25 percent to 6.87 lakh units in October as compared to 7.03 lakh in the same month a year ago due to lower supply
- The government says the pressure to remove tariffs and provide access to India’s vast untapped domestic market, without getting much in return, ultimately forced India out of the RCEP deal.
- The US will reportedly extend a license, that expires, allowing American companies to continue doing business with Huawei. This would be the third time a waiver is granted to the Chinese firm
- Essar Steel, Adani Group and state-owned GAIL have bought a majority of natural gas from Reliance Industries' newer fields in the KG-D6 block at an indicative price of $5.04 - 5.16 per unit
- With strong fundamentals, India's civil aviation sector is in its "golden age" and there is also healthy competition among domestic carriers, IndiGo CEO Ronojoy Dutta has said
- Telecom operator Bharti Airtel has withdrawn its bid to purchase assets of Reliance Communications (RCom) after terming the move of the committee of creditors to extend the bid submission deadline on the request of Reliance Jio as "extremely unfair" and "biased".
- Vodafone Idea believes the government will not be in conflict with the Supreme Court if it does provide any relief for payments ordered by the apex court
- Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) expects an annual private investment worth $100 million a year in solar and wind projects in India from next month.
- Daimler's Chinese truck venture partner Beiqi Foton Motor aims to sell 200,000 new energy commercial vehicles a year by 2025, its chairman said
Banking:
- Commercial banks such as State Bank of India (SBI) have defined certain rules to ensure sufficient balance in the bank accounts of customers. SBI requires the holders of its regular savings account to maintain a monthly average balance (MAB) to the tune of Rs. 1,000-Rs. 3,000, according to the bank's website - sbi.co.in.
- State Bank of India, Kotak Mahindra Bank and Bank of Baroda offer interest rates to the tune of 3.50-6.50 percent on fixed deposits - also known as term deposits - up to Rs. 2 crores.
- Mumbai: The Asian Infrastructure Investment Bank (AIIB) has approved an investment of $575 million in suburban railways and renewable energy sectors, taking to its total commitment in India to nearly $3 billion.
- NEW DELHI: Finance Minister Nirmala Sitharaman said the government will bring legislation on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks amidst a crisis in PMC Bank affecting lakhs of depositors.
- The adverse fallout of huge losses posted by telecom majors Vodafone Idea and Bharti Airtel in the second quarter, on provisions made for dues in adjusted gross revenue (AGR), has left commercial banks nervous.
- NEW DELHI: Unfavourable trends in tax revenue collections suggest that a fiscal slippage in the current financial year 2019-20 (FY20) appears likely, according to investment information firm ICRA NSE -1.17 %.
- Google is adding a new translator feature to its Maps to speak out a place's name and address in the local language.
- Microsoft co-founder Bill Gatesofficially overtook Amazon Founder Jeff Bezos as the world's richest person with a $110-billion net worth as per Bloomberg Billionaires Index.
- NUVIA, a California-based processor-making startup founded by three former Apple and Google chipmakers, has raised $53 million in a Series A funding round.
- Joaquin Phoenix-starrer 'Joker' has crossed the $1-billion mark at the worldwide box office, making it the first R-rated movie in history to do so.
- Senior journalist Rajat Sharma resigned as President of Delhi and District Cricket Association (DDCA), citing his inability to continue amid "various pulls and pressures" within the organization.
- The Indian Air Force (IAF) has shortlisted 12 pilots from total 60 for India's first human space mission Gaganyaan with help from Russian space experts.
- The average capacity utilization of Indian edible oil refineries has fallen to 46 percent, declined by half the past five years due to stagnant domestic oilseed production and an increase in vegetable oil imports
- The Ministry of Corporate Affairs has found comfort in the fact that the Supreme Court has not struck down the 330-day timeframe for completing the insolvency resolution process
- A partial trade agreement between the United States and China could be signed at the ministerial level, not by the two nations' presidents
- Reliance Jio Infocomm continued to advocate that interconnect usage charges (IUC) should be scrapped, while rivals Vodafone Idea and Bharti AirtelNSE 8.43 % called for the regime to continue for at least three more years.
- Mumbai: The Supreme Court’s verdict will see banks recover almost 92% of the ₹42,000-crore Essar Steel owed them, while operational creditors will get ₹1196 crore, boosting the outlook for December quarter
- SoftBank Group Corp. has quietly completed an initial money-raising push for its second technology fund, at a fraction of its targeted $108 billion.
- Buoyed by its success in smartwatches, Titan Limited has entered the affordable smartwatch category via the Sonata stable.
- Future Lifestyle Fashion, part of the Future Group, said that private equity firm Blackstone had invested Rs 1,750 crore in its holding company, Ryka Commercial Ventures, picking up a 6 percent stake in the firm.
- The Trump administration is set to issue a two-week extension of a license allowing U.S. companies to continue doing business with China's Huawei Technologies Co Ltd
Banking:
- The Central Bureau of Investigation (CBI) will soon file fresh charges in the $2 billion Punjab National Bank (PNB) fraud case
- AIIB clears $375 million loans to Mumbai for boosting investment in renewable energy
- HDFC Bank became the third Indian company and first bank to cross ₹7 lakh crore in market value. The private lender's stock has surged 31% in the past year.
- Kunal Bothra of Independent Analyst has a buy call on Canara Bank NSE 2.55 % with a target price of Rs 220.0. The current market price of Canara Bank is Rs 207.0
- Shrikant Chouhan of Kotak Securities Limited has sell call on Axis BankNSE 0.14 % Ltd. with a target price of Rs 680.0. The current market price of Axis Bank Ltd. is Rs 715.35
- Brussels: The European Union's investment arm has said it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change, in a decision environmental campaigners hailed as a "significant victory".
- Prime Minister Narendra Modi urged for the early opening of the New Development Bank's regional office in India and offered full backing to the multilateral finance institution in promoting global growth.
- RBI calls for fresh applicants ‘on tap’ to grant depositor awareness funds
- EXCLUSIVE: LIC’s equity investment in FY20 likely to reach above Rs 70,000 cr, an all-time high
- The Income Tax Department can impose a penalty of Rs 10,000 on anyone that is found to have submitted an incorrect PAN number under section 272B of the Income Tax Act 1961.
- The chief investment officer of L&T Mutual Fund Soumendra Nath Lahiri has put down his papers, three industry sources told Moneycontrol.
- Harsh Jain, CEO of India's first unicorn (billion-dollar) startup Dream 11, has revealed that before raising Series A funding round, he heard investors say 'no' close to 150 times.
- Wikipedia Co-founder Jimmy Wales is relaunching 'WikiTribune' as "WT:Social", a social-networking and news sharing site. WikiTribune was launched as an online publication meant to combat fake news with original stories by reporters and "citizen journalists".
- Misters, the men's health and wellness brand co-founded by IIM-Calcutta alumnus and Paper Boat Co-founder Suhas Misra, has raised about $1 million in seed funding.
- NEW DELHI: Micro, small and medium enterprises (MSMEs) in the country must understand the needs of the foreign market and design their products accordingly to be able to increase the sector’s share in India's exports to around 60%, union minister of MSMEs Nitin Gadkari said.
- The telecom department has not approached the regulator for any views on floor price for tariffs, Trai Chairman R S Sharma said.
- Congress leader Rahul Gandhi attacked Prime Minister Narendra Modi over an official survey which reportedly points to a fall in consumer spending and said "Modinomics stinks so bad"
- The Indian economy continues to slow. The monthly Index of Industrial Production fell to an eight-year low in the month of September, contracting by over 4 percent.
- Punjab, Haryana announce Rs 2,500 an acre incentive to stop stubble burning
- The Ministry of Corporate Affairs on November 15 has notified the Insolvency and Bankruptcy Rules, 2019, CNBC-Tv18 reports.
- India's vegetable oil imports increased by 3.5 percent to 155.5 lakh tonnes in 2018-19 marketing year ended October
- Govt determined to see 3 pvt players in telecom sector: Vodafone Idea CEO
- Reliance Jio said that delaying the implementation of zero calls connect charges beyond January 2020 will hurt affordability of telecom services in a sector where users have benefited from free voice calls.
- The Supreme Court set aside the July 4 order of the NCLAT approving ArcelorMittal's Rs 42,000-crore bid for acquiring debt-laden Essar Steel.
- ArcelorMittal won approval from India’s top court to complete its $5.8 billion purchase of a bankrupt steel mill, clearing the way for tycoon Lakshmi Mittal to enter the world’s second-biggest market.
- Walmart International reported solid sales growth in the quarter, helped by its Indian investment Flipkart and businesses in China and Mexico.
Banking:
- Paytm has reportedly received a five-year IPO deadline as part of a new $1-billion funding round.
- The terms for the funding reportedly also states that in case the Noida-based fintech giant fails to go public, SoftBank will sell its 19% stake to other investors.
- Hero Corporate Service Chairman Sunil Munjal and DSP Group Founder Hemendra Kothari has reportedly held separate talks with Yes Bank to purchase stakes of up to 10% each.
- China wants to balance functionality with concerns about anonymity as it works toward launching a digital version of the yuan, according to an official from the People’s Bank of China.
- HDFC Bank requires its customers to maintain a certain minimum balance in their regular savings accounts.
- Failure to meet the average monthly balance or AMB requirements leads to penalty charges payable by the customer.
- For regular savings accounts held in HDFC Bank's branches located in metros and urban regions, customers are required to maintain an average monthly balance of Rs. 10,000 to avoid penalty charges
- NEW DELHI: Private sector lender YES Bank NSE 0.81 % advanced 3 per cent in trade after ICRA NSE -0.72 %
- RBI to cut rates by 40 bps by February despite high inflation: Report
- CARE Ratings downgrades Yes Bank’s debt instruments
- 'Micro-finance companies' overseas borrowing doubled to $80 million in H1FY20
- DoT asks telcos to pay AGR dues in 3 months after self-assessment
- Mumbai-based beverage startup Coolberg has raised $3.5 million in Series A funding led by Singapore-based RB Investments and existing investor India Quotient.
- Moody's Investors Service today cut India's economic growth forecast for the current year to 5.6% from 5.8% estimated earlier, saying GDP slowdown is lasting longer than previously expected.
- IIT Madras, in collaboration with the upgrade, has launched an online program 'Advanced Certification in Machine Learning & Cloud' for working professionals
- Google, in a move into banking services, is set to offer checking accounts to consumers starting next year.
- Under the project called "Cache", the technology giant will partner with banks and credit unions to offer the accounts, with the banks handling all financial and compliance activities
- Flipkart Co-founder Sachin Bansal has invested over ₹888 crores into his investment firm Navi Technologies, formerly known as BAC Acquisitions (BACQ).
- Apple launched its new MacBook Pro with a 16-inch Retina display, replacing the older 15-inch model, priced at around ₹1.99 lakh for the base model in India.
- Bengaluru-based grocery delivery platform BigBasket is reportedly set to acquire Sequoia-backed rival DailyNinja in a $20-25 million cash-and-stock deal.
- The Supreme Court dismissed review petitions against its December 2018 judgment rejecting probe into 36 Rafale jets deal, upholding the deal by the Centre.
- NASA has unveiled its 'Rocket Science: Ride 2 Station' app that lets users plan and run simulated commercial missions to space, from spacecraft selection to the actual launch and docking process.
- The Punjab government has decided to give ₹2,500 per acre relief as compensation to farmers for not burning paddy straw. "Small and marginal farmers cultivating non-basmati paddy and owning land up to five-acre would get ₹2,500 per acre compensation
- Brazilian President Jair Bolsonaro has accepted Prime Minister Narendra Modi's invitation to be the chief guest at India's Republic Day celebrations next year.
- Gold prices rose by 0.41 percent to close at $1462.9 per ounce
- Play the Swachh Bharat anthem on board, ask the crew to wear swachhata badge, place Swachh Bharat booklets in seat pockets.
- Beating slowdown blues, unsold residential inventory overhang in top 7 cities has reduced to 30 months as on Q3 2019, against 37 months in the corresponding period of 2018
- India is the world's most "open and investment-friendly" economy, Prime Minister Narendra Modi told business leaders of the BRICS group in Brasalia
- Tata Motors on November 13 said its board has okayed the pricing and tenure of $300 million (over Rs 2,163.37 crore) fund raise
- The National Company Law Appellate Tribunal (NCLAT) had directed the government's Enforcement Directorate (ED) to revoke the properties the latter had attached of Bhushan.
- Facebook said it has nixed 5.4 billion fake accounts already this year, many within moments of being created at the leading social network.
- Shareholders of Vodafone Idea will lose Rs 1.68 trillion of their equity investment in the event of liquidation under the burden of mounting financial liabilities.
- Coffee Day Enterprises (CDEL) reported a net profit of Rs 1,509 crore in the first quarter of this financial year as it booked a one-time gain of Rs 1,659 crore
- SpiceJet reported a loss of Rs 462 crore for the September quarter, its first quarterly loss during the current
- Aurobindo Pharma Limited scrip fell more than 8 percent on Bombay Stock Exchange reacting to the latest adverse inspectional outcome at the company's Unit 4
Banking:
- NEW DELHI: The Banks Board Bureau (BBB) has recommended names of Sanjiv Chadha, L V Prabhakar and Atanu Kumar Das for the post of managing director and chief executive officer (MD & CEO) of three state-owned lenders -- Bank of Baroda, Canara Bank NSE -3.17 % and Bank of India
- Shares of RBL Bank (up 1.75 per cent), YES Bank NSE -6.58 % (up 1.71 per cent), Punjab National Bank NSE -2.27 % (up 0.65 per cent) and Federal Bank (up 0.42 per cent) were the top performers in the index.
- Independent analyst Kunal Bothra has a buy call on Axis Bank Ltd.NSE -3.07 % with a target price of Rs 766. The current market price of Axis Bank Ltd. is Rs 733.6.
- Raise the deposit insurance limits for individuals to ₹5 lakh: Sahakar Bharati
- Sahakar Bharati also recommends increasing the limits for institutions to ₹25 lakh
- Zomato shareholder Info Edge's executives, in the quarterly earnings call, revealed that the Gurugram-based food-delivery giant has reduced its cash burn by over 55% since March.
- Uber India received a fresh capital infusion of over ₹1,767 crores from Netherlands-based entities Uber International Holding and Uber International, filings accessed by paper
- Chiron Behring Vaccines, a part of Bharat Biotech, relaunched its rabies vaccine in the country under the ChiroRab brand.
- Royal Enfield 650 twins have a wait time of 4 months in Europe as region eludes slowdown
- The Indian Rupee plunged to a two-month low level of 72.04 after India's industrial output contracted by the most in almost seven years.
- The industrial production contracted for the second consecutive month, shrinking by 4.3 per cent in September with weakness across sectors
- Issue of the forensic audit of JIL must be taken up at the next CoC meeting: Homebuyers
- Adani Green Energy has posted a profit of Rs 102.3 crore in the September quarter.
- The Supreme Court has ruled that the office of Chief Justice of India is a public authority under the purview of the Right to Information Act
- The Ministry of Defence (MoD) is seeking approvals for a ₹500-crore plan to fund 250 defence startups, aiming to achieve 50 tangible innovations in the next five years.
- A new analysis revealed that pneumonia claimed lives of over 8,00,000 children under the age of five last year, or one child every 39 seconds, UNICEF stated.
- The European Union (EU) has approved an investigational Ebola vaccine known as 'Ervebo' with a "conditional marketing authorisation" in a world first.
- Maharashtra under President's rule for 3rd time in state's 59-yr history
- Prime Minister Narendra Modi arrived in the Brazilian capital on to take part in the BRICS summit
- Strained trade relations between India and Pakistan have severely dented Indian plastic exports to the neighbouring country, with shipment values declining by a staggering 91.3 per cent year-on-year in September.
- Shares of Tata Consultancy Services (TCS) jumped almost 4 per cent intraday on November 13, a day after the company announced an expansion of its long-term partnership with Phoenix Group.
- The share price of Godrej Industries added 6 percent intraday after the company posted better-than-expected numbers for the quarter ended September 2019.
- Tata Group has approached Germany’s BMW AG and China’s Zhejiang Geely Holding Group Co. to partner for its Jaguar Land Rover auto business, Bloomberg
- Google has received a patent for its technology that monitors the quality of the food through sensors on the containers.
- Alibaba-backed Big Basket, the country’s top online grocer, expects to break-even at an operational level in top 10 metro cities this fiscal, co-founder and chief executive officer (CEO) Hari Menon
- Indian Oil Corporation, the country’s top refiner, is in talks with oil major Rosneft to explore the possibility of importing Russian oil, its chairman Sanjiv Singh said
- Facebook has launched a new payments system that will work across its app ecosystem -- Facebook, Messenger, Instagram and WhatsApp.
- Budget carrier SpiceJet was trading flat ahead of its September quarter results (Q2FY20), slated to be announced later
Banking:
- The outperformance of banking has seen in the market so chances of moving closer to 33,200 can be seen. If it sustains above that then further progress will be seen.
- With the ongoing trade war between the US and China increasing the scope for diversion of global foreign direct investment (FDI) and manufacturing away from China: RBI study
- Avanse Financial Services, an education finance-focussed NBFC, is eyeing ₹10,000 crores in assets under management (AUM) by the financial year 2023-24
- Nearly 3,000 fraud cases detected under Ayushman Bharat health insurance scheme
- GDP Growth In Second Quarter May Lower To 4.2%: State Bank Of India
- NEW DELHI: The three months' time period to deposit the outstanding dues by Amrapali buyers ended last month.
- MUMBAI: The Economic Offences Wing (EOW) arrested two auditors in connection with PMC Bank scam and will produce them in Court today
- AI to be critical in APAC cybersecurity market: Frost & Sullivan
- Fresh Complaint Against Infosys CEO From Finance Department Staff: employees accused Mr Parekh and Chief Financial Officer (CFO) Nilanjan Roy of unethical practices.
- The domestic equity, debt and currency markets remained closed on account of 550th Guru Nanak Jayanti (Guru Nanak Gurpurab). The S&P BSE Sensex and NSE Nifty 50 indexes ended on a flat note in trade
- Vodafone Group Plc may have to slash about 1 billion euros ($1.1 billion) of the book value of its Indian venture that's reeling from spectrum payment demands and a ruthless price war.
- Ride-hailing firm Uber has invested Rs 1,767 crore (around $250 million) in its India business
- Industrial output shrinks by 4.3%, steepest decline in eight years
- The male-dominated finance industry is missing out on more than $700 billion a year in revenue by failing to listen to or tailor products for women
- Saudi Arabia labels feminism, atheism, homosexuality as extremist ideas
- North Korea accused the United States of "political and military provocations" and South Korea of "double-dealing behavior."
- CIL's coal allocation under spot e-auction scheme declined 36.4 per cent to 11.25 million tonne in April-September period of the ongoing fiscal.
- The government is well within its rights to hold spectrum auction in the current financial year if it so desires, but old operators, reeling under the impact of SC ruling on statutory dues, are unlikely to participate, industry body COAI said.
- Moody's Investors Service said on Tuesday it has assigned a Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors Ltd (TML).
- Jaguar Land Rover (JLR), a part of Tata Motors, on Tuesday reported a 5.5 percent decline in total retail sales at 41,866 units in October as compared with the year-ago period.
- Microsoft has announced to implement California's digital privacy law, which comes into effect from January 1, 2020, throughout the US.
- Tata Group, the owner of Jaguar Land Rover, has approached carmakers including China’s Zhejiang Geely Holding Group Co. and BMW AG as it seeks partnerships for the beleaguered British automotive business
- Steelmaker ArcelorMittal will shut down a plant in South Africa’s Saldanha town and lay off nearly 1,000 workers after losses, amid a global downturn in the industry.
Banking:
- Axis Bank has revised its interest rates on retail fixed deposits with effect from November 5. The private sector bank offers interest rates to the tune of 3.50-6.85 percent to the general public on fixed deposit (FD) up to Rs. 2 crores
- CK Narayan of Chart Advise has a buy call on YES Bank Ltd.NSE 5.73 % with a target price of Rs 74.0. The current market price of YES Bank Ltd. is Rs 69.
- Shares of Bank of Baroda NSE 3.09 % advanced over 3 percent in Monday’s trade after the lender on Friday posted a 73.2 percent rise in its net profit at Rs 736.68 crore
- Except for the profitability part as of 30th September 2019, we are complying with all the parameters like capital adequacy, CET 1, leveraging part and the net NPA and we will request RBI to take us out of PCA, says Rakesh Sharma, MD & CEO, IDBI BankNSE 1.06 %.
- Returns for equity and debt funds have converged over a 5-year period: Sampath Reddy
- State Bank of India (SBI) plans to raise about Rs 8,000 crore by selling a minority stake in the initial share sale of SBI NSE 0.71 % Cards
- Bengaluru-based Jana Small Finance Bank said it has raised Rs 225 crore equity in the latest funding round from its existing investors
- A billion-dollar dream: Kiran Mazumdar-Shaw feels agriculture sector will be big in India, abroad
- When you look at the Indian data, the slowdown reflects more of a localized issue as opposed to global issues, says Kunal Kapoor, Global CEO, Morningstar Inc
- MUMBAI: Realty developer Lodha Group is aiming to turn debt-free over the next two years, aided by the brisk sales performance in its recently launched affordable housing vertical
- Not just in India but in Europe and the United States also, there is a consensus expectation that growth will rebound in the coming quarter, says Mark Matthews, MD, Julius Baer.
- Digital payments firm Paytm said it plans to invest Rs 500 crore in early-stage startups that build complementary technologies augmenting the digital ecosystem.
- After a decline of three consecutive years, external commercial borrowings (ECBs) showed signs of resurgence in the past year as corporates preferred ECBs to meet their funding needs
- Expect India's growth to return to 7.5% in 2020-21: Arvind Panagariya
- Experts are of the view that investors could use rallies in Gold to go short. Strong support is placed at 37,500 while resistance is placed at 38050.
- Rajya Sabha Chairman Venkaiah Naidu has nominated a former prime minister and senior Congress leader Manmohan Singh to the parliamentary standing committee on finance
- Prompt course corrections have been done to the insolvency law to address the needs of stakeholders, IBBI chief M S Sahoo said as he emphasized that challenges have made the legislation stronger.
- Earlier this year, a NITI Aayog report rang loud alarm bells.
- It claimed that 21 cities in India, including Delhi, Bengaluru, Chennai, and Hyderabad, would run out of groundwater by 2020, affecting around 100 million people.
- The report also said 40 percent of India’s population would have no access to drinking water by 2030.
- The income-tax (I-T) department will ask for a cut of at least Rs 1 trillion in the target for direct tax collection in 2019-20 (FY20) because of growth in the segment sliding to 3 percent as of October 31.
- The lack of data has made difficult the commerce and industry ministry’s plans to expand the Services Exports from India Scheme (SEIS) and provide a crucial leg-up to new sectors.
- Housing sales of nine major players, which are listed on stock exchanges, rose 11 percent to nearly Rs 5,300 crore during the first quarter of this fiscal as home buyers are preferring organized players.
- India’s largest drugmaker, Sun Pharmaceutical Industries, is expanding in the Japanese market when most of its peers have indicated they are not bullish on it.
- India’s Information Technology sector is going through a tough phase. As a matter of fact, many tech giants are looking to layoff almost 5-8 percent of their employees in the coming quarters.
- E-commerce giant Alibaba's Singles' Day sales on Monday hit $10 billion in less than 30 minutes of the event going live.
- India smartphone shipments rise 9.3% in Q3; Xiaomi leads the list
- Public sector general insurance companies, which are slated to be merged, have sought fund infusion from the central government before the amalgamation.
- The Serious Fraud Investigation Office (SFIO) is looking into the “general sales agents” model of Jet Airways in its probe of the aviation company
- Mahindra Group to check into upscale hotel segment to tap burgeoning demand
Banking:
- McKinsey & Co., the elite consulting firm that advises many of the world’s largest and most powerful institutions, is facing a federal criminal investigation of its conduct advising bankrupt companies
- Chennai: Private sector Lakshmi Vilas Bank reported a net loss at Rs 357.17 crore for the quarter ending September 30, 2019.
- YES Bank, the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month.
- Indian banks wrote off over $30 billion worth of bad loans in the year to June 30, according to RBI data reviewed by Reuters.
- Banking wrap: RBI hikes deposit withdrawal limit for PMC Bank customers; lenders count on realty fund for NPA relief
- SRF, ICICI Bank among top 4 stocks which could give 11-23% return in 1-3 months
- No claimants have come forward for about a dozen dormant Swiss bank accounts linked to Indians
- AirAsia India plans to start multiple flights connecting Ahmedabad
- Over 100 Indian CEOs, Deepika Padukone to visit Davos for 50th WEF annual meet
- Thermal coal imports declined by 17.69 percent to 51.10 million tonnes at the country's top 12 major ports during April-October
- SEPC for adding more services under the export incentive scheme to boost shipments
- Nifty started the week on a flat note and traded with extreme volatility on either side within narrow range (12,040-11,850).
- The telecom department has directed all circle heads to treat Bharti Airtel and Tata Teleservices as separate entities
- BSNL mulls biz continuity measures as VRS plan rolls out in full swing; Talks on with DoT
- DLF Apr-Sep sales bookings up 16% at Rs 1,425 cr on demand for completed units
- India's move to allow 100 percent foreign direct investment in coal mining is a "positive move" and a good policy enabler towards the country's long-term ambition of producing 300 million tonnes of steel per annum
- Congress leader Jairam Ramesh criticized the BJP government's plan to revise the base year to calculate the gross domestic product growth from the current 2011-12 to 2017-18, saying it was a "terrible" idea.
- The Shipping Ministry is not opposed to strategic divestment of the Shipping Corporation of India (SCI)
- As many as 355 infrastructure projects, each worth Rs 150 crore or more, have shown cost overruns to the tune of over Rs 3.88 trillion owing to delays
- Commerce and Industry Minister Piyush Goyal will meet his US counterpart Robert Lighthize in Washington
- The word 'secular' appeared 24 times in Supreme Court's 1,045-page judgment in the Ram Janmabhoomi-Babri Masjid title suit.
- Maruti Suzuki India (MSI) reduced its production by 20.7 percent in October, making it the ninth straight month when the country's largest carmaker lowered its output.
- DLF April-September sales bookings in H1FY20 up 16% at Rs 1,425 crore
- As WeWork prepared for what it thought would be a blockbuster initial public offering (IPO), the company built out dozens of new offices and filled them with more than 100,000 desks.
- Coca-Cola, the country’s largest beverage maker, is contemplating the launch of regional water brands as it increases its bottled water bet in a market
- Saudi Aramco targets selling 0.5% to retail investors in IPO: Sources
Banking:
- New Delhi: State-owned Bank of Baroda NSE -2.49 % reported a jump of 73.2 per cent in its net profit to Rs 736.68 crore
- HONG KONG: Alibaba has extended its investment banking syndicate as it works towards a $10 billion to $15 billion listing in Hong Kong
- Kolkata: Moody's Investors Service downgraded its rating outlook to ‘negative’ from ‘stable’ for a number of leading Indian financiers and utilities, such as State Bank of India, HDFC BankNSE -0.64 % and NTPC
- NEW DELHI: An Ahmedabad-based company's assets worth over Rs 56 crore have been attached in connection with a bank fraud and money laundering case
- IDBI Bank narrows Q2 loss to Rs 3,459 crore on higher margins, lower NPAs
- Digital payment companies invest strongly in brand building and are overt in their efforts to deliver an engaging customer experience
- The Reserve Bank of India (RBI) has directed banks not to charge savings bank account customers for online transactions in the NEFT system with effect from January 2020.
- Three Chinese banks have sued Anil Ambani in London for not repaying ₹4,850 crores in loans defaulted by Reliance Communications, allegedly secured by a personal guarantee.
- From November 10, SBI To Pay Lower Interest Rates On These Fixed Deposits
- Amazon's long-serving executive Steve Kessel, who led the launch of Amazon's 'Kindle' and brick-and-mortar stores 'Amazon Go', is leaving the company after 20 years.
- Over 40,000 Bharat Sanchar Nigam Limited (BSNL) employees have opted for Voluntary Retirement Scheme (VRS) within three days since its November 5 launch
- UK spending plans, Brexit paralysis put rating at risk: Moody's
- Shares closed down nearly 1 percent after Moody's Investors Service flagged domestic growth risks and cut its rating outlook for the country
- Tamil Nadu government launches onion sales through farm fresh outlet at subsidised cost
- Twenty-seven years after the demolition of the Babri Masjid on 6 December 1992, the Supreme Court announced its verdict in the title suit over the disputed land earlier today.
- Insight18 | What is RCEP and why India decided not to join the free-trade agreement
- Microsoft Japan recently conducted an experiment wherein it had a trial of a four-day workweek. The idea was to have a work environment challenging employees to work in a short time
- IMF approves $450 million loan tranche for Pakistan
- The Telecom Regulatory Authority of India (Trai) decided to address the issue of interconnection usage charges (IUC)
- Everyone had warned Sanjay Gupta that it would be a fatal blunder to set up an over-the-top channel in the country.
- “Whoever heard of the idea said to me — how can a traditional broadcaster like Star TV run a digital platform
- Air India disinvestment is likely to be delayed as the expression of interest (EoI) for bidders will be issued in the first week of January, a source in the know pointed out.
- WeWork, its Co-founder and former CEO Adam Neumann, SoftBank and its Founder and CEO Masayoshi Son are among 10 defendants sued over the American office space provider's failed IPO.
Banking:
- Indian banks wrote off more than $30 billion worth of bad debt in the year to June 30, helping to lower stressed loans on their books by 8.5%
- NEW DELHI: The government is mulling a special window to address debt woes of stressed non-banking financial companies under the insolvency law
- Indian Bank NSE -2.86 % MD and CEO Padmaja Chunduru has said that the integration of human resources will be accorded priority to ensure smooth amalgamation of Allahabad Bank with the lender.
- Punjab & Maharashtra Cooperative Bank (PMC Bank), among the top 10 urban cooperative banks in the country, was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans.
- Shrikant Chouhan of Kotak Securities has a buy call on HDFC Bank NSE -0.64 % with a target price of Rs 1,320. The current market price of HDFC Bank Ltd. is Rs 1,263.25.
- Independent Analyst Kunal Bothra has a buy call on Axis Bank Ltd.NSE -1.26 % with a target price of Rs 775. The current market price of Axis Bank Ltd. is Rs 734.65.
- Kunal Bothra has buy call on IndusInd BankNSE 2.96 % Ltd. with a target price of Rs 1466.0. The current market price of IndusInd Bank Ltd. is Rs 1413.0 Kunal Bothra
- Almost five years before the actual fraud was unearthed, the RBI had raised red flags on various aspects of PMC Bank lending.
- Three years after the note ban, UPI sees more than Rs 20-lakh cr transactions
- IRDAI has released draft guidelines for health insurers on the modalities.
- Demonetisation has formalized real estate sector, ably supported by policy measures like GST, RERA: Knight Frank India Chairman
- We saw an opportunity in demonetization to go disruptively digital with our product suite: Karthi Marshan
- MFs asset jumps 7 percent on robust debt inflows
- Shares of Allahabad Bank slipped up to 11.2 percent to Rs 23.95 per share in the afternoon trade on the BSE after the bank's standalone loss in the September quarter of FY20 (Q2FY20) widened to Rs 2,114 crore.
- SBI cuts MCLR by 5 bps across all tenors, reduces fixed deposit rates
- GAIL, the state-owned natural gas processing, and distribution company, on Friday posted a consolidated net profit of Rs 1,167.58 crore, down 34.7 percent year-on-year (YoY) for September quarter of FY19
- Shares of Bharat Forge slipped 8 percent to Rs 433 on the BSE on Friday after the company's consolidated profit before tax (PBT) declined 27 percent year on year (YoY) to Rs 251 crore
- Raymond surges 19% on plans to list demerged Lifestyle biz, pare debt
- Bajaj Finserv turns up the heat in broking; BFSL joins a zero-brokerage team
- With Oreo and Cadbury, Mondelez looks to expand the influence of its brands
- Apple raised €2-billion (about $2.2 billion) by selling six and 12-year green bonds on Thursday to reduce its carbon footprint
- Uber co-founder and former CEO Travis Kalanick raised $400 million for his new startup CloudKitchens from Saudi Arabia's Public Investment
- Remya Sreekantan has become the first woman firefighter to join Airports Authority of India (AAI)
- India's credit rating outlook was cut to negative from stable by Moody's Investors Service, citing increasing risks in the country's economic growth.
- The government may impose a provisional safeguard duty of 25 percent on imports of single-mode optical fiber, used for signal transmission, based on a Commerce Ministry investigation
- The alternative investment fund (AIF), approved by the Union Cabinet to cheer beleaguered real estate developers
- Govt asks home buyers to approach lenders for a revival of their loans
- PE investors see profit in India's troubles in shadow banking, real estate
- On November 8, 2016, Prime Minister Narendra Modi announced to the nation that Rs 500 and Rs 1,000 currency notes — 86 percent of all currency notes in circulation in value — would cease to be legal tender.
- Moody's rating action unjustified; experts for an aggressive rate cut by RBI
- Mahindra and Mahindra Ltd reported a 26.5 percent drop in quarterly net profit as the company struggled to sell cars, trucks, and tractors amid a slowdown in Asia's third-largest economy.
- NGC Energy to set up Rs 400 cr LPG import and storage unit at Krishnapatnam
- Sanjay Gupta will be Google India’s new country manager and vice president of sales, the company announced.
- Japanese automaker Nissan sought to clear the air over speculation that it might soon scrap its low-cost brand - Datsun.
- Film exhibition firm PVR announced its foray into the Sri Lankan market with the opening of its first theatre in collaboration with Shangri La Group.
- Real estate major DLF reported a 19.8 percent year-on-year drop in consolidated operating revenue for the July-September quarter, to Rs 1,716 crore.
Banking:
- The country’s largest private sector lender, HDFC Bank, cut its marginal-cost based lending rate (MCLR) for various tenors by up to 10 basis points (bps)
- SoftBank plunged to its first quarterly loss in 14 years, dragged down by an $8.9 billion hit at its giant Vision Fund
- Mumbai: Discovery Capital, UK-based hedge fund Marshall Wace, and others have joined buyout firms Carlyle and Farallon in negotiations for a stake in Yes Bank NSE -3.57 %
- Mumbai: Banks have agreed for a one-time settlement for Tamil Nadu-based Coastal Energen, which owes creditors Rs 6,500 crore
- SBI to contribute up to 10% of the real estate fund announced by FM: Dinesh Kumar Khara
- Bank of Baroda is slated to report its September quarter (Q2FY20) earnings amid expectations of muted loan growth and marginally higher net interest income (NII) on a sequential basis.
- City Union Bank Standalone September 2019 Net Interest Income (NII) at Rs 411.55 crore, up 3.4% Y-o-Y
- PNB Housing Finance said that LIC has invested Rs 2,500 crore in the company
- SBI Life Insurance Company and ICICI Prudential Life Insurance are likely to be included in the MSCI index from December
- The equity benchmark Sensex rallied as much as 207 points to hit a new intra-day high of 40,676 while the Nifty rose up to 55 points.
- 2019 was a washout for auto sector and Bosch India had 26% negative growth: Soumitra Bhattacharya
- Pharma major Sun Pharmaceuticalsnreported a consolidated profit of Rs 1,064.09 crore for the September quarter
- BENGALURU: Infosys NSE 1.12 % is looking to cut costs by $100-$150 million this financial year, as it hires freshers to reduce employee costs
- NEW DELHI: Government’s Rs 25,000 crore plan to revive the sluggish real estate sector cheered the traders as domestic equity markets opened with gains.
- Virgin Orbit, the small satellite launching arm of billionaire Richard Branson's spaceflight firm Virgin Galactic, will receive about $9.5 million from the UK Space Agency to build a spaceport in Cornwall
- New Delhi: Indian Angel Network has made the final close of its maiden fund, IAN Fund, at ₹375 crores, more than two years after the oldest and largest angel investor
- IndiGo said it signed a one-way codeshare agreement with Qatar Airways, letting the Middle Eastern airline get more access to the Indian market.
- Foton PMI to invest Rs 500cr to set up an electric bus manufacturing unit in Pune
- NEW DELHI: Finance Minister Nirmala Sitharaman reviewed the state of the economy including stress in the financial sector at the meeting of the Financial Stability and Development Council (FSDC)
- The dollar was shackled against its major rivals as lingering doubts about when the United States and China will sign a preliminary trade deal
- NASA scientists opened an untouched rock and soil sample from Moon returned to Earth on Apollo 17, the final mission of NASA's Apollo program.
- Gujarat govt buys new private jet worth ₹191 crores for CM, VVIP travel
- Reliance Industries puts off-gas bid for the second time to November 15
- Closely monitoring situation at PMC Bank; forensic audit underway: Shaktikanta Das
- Rajnath Singh in Moscow: 52 Indian defense firms seek deals with OEMs
- The term of the Fifteenth Finance Commission (15th FC) could be extended by around six months
- UAE can play a vital role in PM Modi's vision of $5 trillion economies, says official
- Commerce ministry raises the issue of DRI notices to exporters over IGST with FinMin
- Shares of auto component major Bosch fell nearly 5 percent after the firm reported 76.57 percent drop
- Google parent Alphabet probes executives over relationships at workplace
- Flipkart has obtained a stay order on insolvency proceedings initiated against the e-commerce firm by the National Company Law Tribunal (NCLT)
- AirAsia India has appointed Vikas Agarwal, a Titan executive, as Chief Financial Officer (CFO). The appointment became essential as current CFO Deepak Mahendra
- Tata Steel reports pre-tax loss of Rs 6.5 crore, net sales down 15.4%
- BSNL's VRS open till Dec 3; telco hopes 100,000 staffers will go for the scheme
- WhatsApp rolled out a feature that will let users decide who can add them to WhatsApp groups
Banking:
- TOKYO: Japanese giant SoftBank Group said it suffered an operating loss of $6.4 billion
- Private lender IDFC First Bank will improve the mix of its loan book to at least 70% retail loans in the next few years, says chief executive V Vaidyanathan.
- MUMBAI: The RBIsaid it has imposed a penalty of Rs 5 crore on The Mehsana Urban Co-operative Bank, Gujarat, for contravention of norms on 'loans and advances to directors
- Punjab & Maharashtra Cooperative (PMC) Bank, the Reserve Bank enhanced the withdrawal limit to Rs 50,000 per account
- J&K Bank continues to register growth despite recent events: Financial Commissioner
- Though Punjab National Bank (PNB) posted a rise in profit before tax (PBT) of Rs 633 crore in the September quarter (Q2), its finances showed signs of stress
- The Reserve Bank of India’s (RBI’s) move to ask non-banking financial companies (NBFCs) to maintain liquidity coverage ratio (LCR) may not have any adverse impact on their growth
- New Delhi: India needs a good dose of private investment to make power distribution viable, and a strong regulatory framework to attract foreign investment, Niti Aayog CEO Amitabh Kant said.
- Mumbai: Finance Minister Nirmala Sitharaman flagged concerns over the problems faced by the real estate sector
- Drug major Cipla NSE 3.02 % posted 25 percent year-on-year rise in consolidated profit at Rs 471.35 crore for the quarter ended September 30
- Masayoshi Son is paying the price for bold bets on startups from WeWork to Uber Technologies Inc.
- Uber's ride-sharing and food delivery businesses in India have been collectively valued at $369 million
- Sensex surges 359 points to a new high of 40,607, Nifty hits 12,000
- Boeing CEO Dennis Muilenburg will waive his 2019 bonus and decline equity grants for at least a year until the grounded 737 MAX fleet is flying again "in its entirety", Chairman David Calhoun said
- WhatsApp downloads fell by over 80% in India between October 26 and November 3, relative to the previous nine-day period, as per data from Sensor Tower
- Twitter CEO mocks Facebook's new logo, tweets 'Twitter from TWITTER'
- The Karnataka High Court has stayed the National Company Law Tribunal's (NCLT) order against Flipkart in favor of the company
- Xerox Holdings Corp is considering making a cash-and-stock offer for personal computer maker HP Inc at a premium to its market value of about $27 billion
- Zee Entertainment’s (Zee’s) Managing Director and Chief Executive Officer Punit Goenka has been reappointed to the position
- NSE CEO Vikram Limaye requested Finance Minister Nirmala Sitharaman and SEBI chief Ajay Tyagi to lower taxes on market trading
- Yemen government and southern separatists signed a Saudi-brokered agreement to end a power struggle within the coalition
- India has initiated a probe into alleged exports subsidization by Indonesia, Malaysia, Sri Lanka, Thailand and Vietnam on fibreboards
- The government is on track to meet the target of cutting India's oil import dependence by 10 percent by 2020
- Fitch Solutions raised India's fiscal deficit forecast to 3.6 percent of the GDP for this fiscal year, from 3.4 percent previously
- India gained about $755 million in additional exports, mainly of chemicals, metals, and ore, to the US in the first half of 2019
- India won’t back down from collecting $13 billion of past dues from debt-laden telecom carriers because the industry is not under stress
- China's digital currency will create a "horse race" when it is launched as commercial banks and other institutions compete to provide the best services using the new form of money, a central bank official
- Indian drugmaker Sun Pharmaceutical Industries Ltd said it would introduce some of its cancer treatment drugs in China
- Infosys Ltd., the Indian software maker that’s battling whistle-blower allegations about its finances, sought to assure investors
- India will be the world’s fastest-growing aviation market over the next two decades, according to Boeing Co.,
- Anil Agarwal-led Cairn Oil and Gas, a vertical of Vedanta Ltd, has got a ten-year extension on its production-sharing contract (PSC) for Ravva block in Andhra Pradesh
- As Sun Pharmaceuticals enhances its focus on the Chinese market, the company today said that it has entered into a licensing agreement with AstraZeneca UK Ltd
- Maruti Suzuki and Toyota Tsusho Group announced a joint venture for vehicle dismantling and recycling.
Banking:
- RBI tightens the compensation package rules of private bank CEOs with half remuneration to be variable, performance-linked. Guidelines also cover local-area banks, small finance banks
- Dharmesh Shah of ICICI Direct has bought a call on Axis BankNSE -0.76 % Ltd. with a target price of Rs 1530.0. The current market price of Axis Bank Ltd. is Rs 739.8
- IDFC Securities has an underperformer rating on Bank of India in the long term with a target price of Rs 60. Shares of Bank of India ended up 0.4% at Rs 71.30
- New Delhi: The CBI is conducting searches in 169 locations across the country in connection with 35 bank fraud cases registered by the agency involving funds of over Rs 7,000 crore, officials said
- JP Morgan appointed four local experts to join the corporate client banking team as it aims to strengthen its commercial banking operations
- NEW DELHI: Shares of YES Bank NSE 3.17 % gained nearly 6 percent in early trade after ace stock picker Rakesh Jhunjhunwala bought nearly 1.3 crore shares
- Central Bank will grow without compromising on loan quality: Pallav Mohapatra
- New Delhi: The Bandhan Bank NSE -0.55 % board on Monday approved increasing foreign investment limit to 49 percent
- As growth cools, China's central bank cuts medium-term loan rate for the first time since 2016
- State Bank of India’s (SBI) Chairman, Rajnish Kumar, has reportedly favored the regulation of cryptocurrency in the country
- The Reserve Bank of India (RBI) has asked Non-Banking Financial Companies (NBFCs) to adopt better risk-monitoring tools that will help detect the strains early on
- Facebook has unveiled a new company logo that will also appear on its acquired brands including Instagram and WhatsApp. "
- Uber has posted a net loss of over $1 billion for the quarter ending September, up 18% from the same quarter last year. The ride-hailing giant's quarterly revenue rose to $3.8 billion, up 30% year-over-year from $2.9 billion in 2018.
- Software unicorn Freshworks, which provides businesses with customer engagement solutions, has reportedly raised $150 million in a funding round from existing investors including Google
- A hotelier in Bengaluru has filed an FIR against OYO Founder and CEO Ritesh Agarwal and six other executives over criminal breach of trust, cheating, criminal conspiracy, among others.
- US electronic component maker Flex is looking to shift its operations out of China and is planning to invest $500 million to expand manufacturing in India.
- Buy Jindal Steel and Power; target of Rs 170: Prabhudas Lilladher
- Test preparation start-up Gradeup, which focuses on government services examinations, has raised $7 million from Times Internet
- Facebook has posted an 84% increase in net profit to ₹105 crore from its Indian operations in the financial year ending March 31
- YS Jagan Mohan Reddy-led Andhra Pradesh government has renamed 'Dr APJ Abdul Kalam Pratibha Puraskars' to 'YSR Vidya Puraskars'.
- As many as 233 challans were issued for violations on the first day of the odd-even scheme in Delhi . Delhi Deputy Chief Minister Manish Sisodia had earlier said
- The RCEP agreement was against India's economic interest and national priorities, Commerce and Industry Minister Piyush
- India's October gold imports drop 33% as higher prices curtail festive buying
- Trade economist and former NITI Aayog vice-chairman Arvind Panagariya says that bargaining by India should not close its doors at the RCEP.
- Finance Minister Nirmala Sitharaman unveiled two new information technology initiatives for improved monitoring of clearance of imported goods and making it easier for international passengers to arrive in India.
- Govt seeks the feedback of industry on antibiotics in updated NLEM
- GAP, Arvind's new water treatment facility to save 2.5 bn liters a year
- India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on Nov 7, the two companies said in a statement, sending shares of the budget carrier higher by as much as 4%.
- Mergers and acquisitions (M&A) deals worth more than $52 billion in 2019 despite a slump in the global economy
- Microsoft Japan which spent August 2019 experimenting with a four-day workweek, said that sales per employee rose 40%
- Cadila Healthcare said group firm Zydus Cadila has received final approval from the US health regulator for its generic version of muscle relaxant
- Sale of Rs 37,500 crore worth of BSNL, MTNL assets hits ownership hurdle
- Bajaj Finance launched its Rs 8,500-crore qualified institutional placement (QIP). The shares will be offered in the range between Rs 3,860 and Rs 3,900 apiece.
- Fired McDonald's CEO to keep $37 mn in stock awards, $675,000 severance
Banking:
- MUMBAI: Bankers working on debt resolution at Dewan Housing Finance Corp (DHFLNSE 4.92 %) are likely to reject a revival plan offered earlier by the company
- Atal Pension Yojana has over 1.9 crore subscribers now: PFRDA
- We have been buying mid and smallcap stocks across sectors: Harsha Upadhyaya, Kotak AMC
- Chandan Taparia of Motilal Oswal Securities has bought a call on Axis Bank NSE -0.80 % Ltd. with a target price of Rs 788.0.
- CLSA has retained sell rating on Bank of India in the long term with a target price of Rs 60. Shares of Bank of India ended down 0.4% at Rs 71
- We have pretty much ringfenced all the legacy issues in our book, says Ravneet Gill, CEO & MD, YES Bank NSE 0.68 %
- Bank of India may Sell 27% in Star Union Dai-ichi Life
- YES Bank shares plunge 15% after Q2 net loss; recovers most of the losses later
- Yes Bank's asset quality woes to continue as NPAs jump
- HDFC logs 80% YoY jump in consolidated profit for Sept quarter
- Growth in bank credit may decelerate sharply to 8-8.5 percent during 2019-20 from 13.3 percent last fiscal
- Sensex closes at record high at 40,301, Nifty ends below 11,950
- IndiGo airline systems down across India, likely to hit operations
- Mumbai: The Sajjan Jindal-led JSW Energy NSE 6.69 % is on track to become a 10,000 MW company in the next three to five years and aims to double it to 20,000 MW
- The Confederation of All India Traders (CAIT) will carry out nationwide movement against Flipkart, Amazon, and other e-commerce companies for not complying with FDI policy norms
- KPMG plans to cut about 65 of its 635 UK partners by Christmas following a review of individual performance
- British Airways-owner buys Spain's Air Europa for 1 billion euros
- India Inc opposes SEBI diktat on separating ownership from management: Report
- Shares of Jindal Steel & Power (JSPL) rose 14 percent intraday after the company had emerged as the highest bidder for the coal mine.
- Accumulate Kansai Nerolac Paints; target of Rs 548: Prabhudas Lilladher
- Tata Power said it will create an arm, TP Renewable Microgrid, to set up 10,000 microgrids
- Joint statement on RCEP deal likely after 7 tiring years of negotiations
- India to continue negotiations on RCEP trade deal: Australian minister
- Housing sales declined 9.5 percent during the July-September period across nine major cities to 52,855 units
- Govts tend to suppress data when it is on shaky grounds: Joseph Stiglitz
- Plastic's loss, jute's gain: Demand for 'golden fiber' boosts jute industry
- China, Southeast Asian states push for RCEP pact despite India's doubts
- Indian govt needs to undertake heavy disinvestment program: Viral Acharya
- India ideally needs USD 30 billion investment per year in the renewable sector
- Aditya Birla store fined ₹8,000 for forcing customer to pay ₹9 for carry bag
- Billionaire Ajay Piramal says he will step down from Shriram Capital
- Burger King India to file for Rs 1,000-crore IPO this week
- McDonald’s Corp fired Chief Executive Officer Steve Easterbrook because he had a consensual relationship with an employee
- Rs 800 bn stuck in stalled realty projects; NBFC concerns overdone: Citi
- Indian IT services major Infosys Ltd said it received no evidence to support the allegations in a whistleblower letter.
Banking:
- North American family office eyes Yes Bank stake, plans to buy more than a third for $1.2 billion
- State Bank of India (SBI), the country's largest lender, recently lowered its interest rate on savings accounts with a balance above Rs. 1 lakh.
- From November 1, SBI pays an interest rate equal to 2.75 percentage points less than the repo rate on such savings accounts.
- US Treasury Secretary holds talks with RBI Guv over the economy, regulatory developments
- Singapore-based DBS Bank, on November 2, denied reports claiming that it may acquire a 51 percent stake in Yes Bank.
- Banking wrap: Yes Bank gets offers worth $3 billion for capital infusion, IndusInd Bank picks new MD & CEO
- New Delhi: Spice Jet NSE 2.39 % promoter and chief Ajay Singh has pledged around 2.78 percent shares towards securing a credit facility for the airline.
- Twitter CEO Jack Dorsey, who recently said he would never be involved with Facebook's digital coin Libra, has invested in cryptocurrency startup CoinList's $10 million fundraising round
- India's first cloud kitchen fund launches with $3 mn corpus
- Saudi Prince okays announcement of Aramco IPO on Sunday, expected to raise $20-40 billion
- FPIs remain net buyers for 2nd straight month; infuse Rs 16,464 cr in Oct
- Indian cos are witnessing a sharp spike in demand for dollar bond offerings
- Industrialist and son of Modinagar's founder, K K Modi passes away
- Interest/principal obligations on NCDs due on November 2 delayed, says Reliance Capital
- Minimum wage for workers likely to increase in next three months
- India is committed to further improving its people-friendly tax regime, Prime Minister Narendra Modi said, as Asia’s third-largest economy seeks to attract more overseas investment to spur growth.
- Suspense over RCEP deal continues as India comes up with fresh demands
- Indian ships to ban single-use plastic on board from January 1
- Power gencos' outstanding dues on discoms rise 37% to Rs 70,000 cr in Sept
- Online sales of automobile components steal a march over offline sales
- McNally Bharat pins hope at strategic investors and partners for revival
- Maruti Suzuki 'cautiously optimistic' over sales prospect in coming months
- Experts raise alarm bells on talent flight amid crackdown on audit firms
- Will enter BS-VI emission norms with only petrol vehicles, says Audi India
- Prasad directs BSNL, MTNL to proceed fast on VRS, asset monetisation plans
Banking:
- North American family office eyes Yes Bank stake, plans to buy more than a third for $1.2 billion
- RBI revamps units for effective supervision, regulation of fin sector
- Mumbai: State-run lender Bank of India reported a net profit of Rs 266.3 crore for the quarter ended September 30, on the back of fall in provisions
- YES Bank reports Rs 600-crore Q2 loss on one-time tax hit
- Indian Bank reports Rs 1,004-crore divergence in provisioning for bad loans
- Bank Of India Reports Profit Before Tax Of Rs 400 Crore In Sept Quarter
- YES Bank Gets $3-Bn Offer From Investors Including PEs And Domestic MFs
- Reserve Bank of India rejigs regulatory and supervision departments
- RBI rejects ICICI Bank’s proposal to appoint Sandeep Batra as ED
- 200 million euros to be earmarked for bus sector reform in TN: Angela Merkel
- Realtors see 15-25% rise in sales during Diwali
- Noida gets its first plastic bottle crusher machine to recycle plastic
- Facebook was in talks to buy Fitbit but Google paid double: Report
- Naukri parent invests ₹7.06 crore in test prep platform Adda247
- Ola, Uber to deactivate surge pricing during odd-even scheme in Delhi
- Fosun buys Thomas Cook brand for 11 million pounds
- Unemployment rate in India rose to a three-year high of 8.5% in Oct: CMIE
- India wants 'win-win outcome' from RCEP negotiations, says PM Modi
- Gaps in FM Nirmala Sitharaman's Budget 2020 team have experts worried
- India reiterates its stand to the US on strategic relations with Iran
- Khattar announces ₹1,000 rewards for information on stubble burning
- The Goods and Services Tax (GST) collection in October rose nearly 3.8% to ₹95,380 crores from ₹91,916 crore
- Israeli firm charges ₹4.6 cr to hack 10 phones, ₹3.5 cr for installation
- Jharkhand polls in 5 phases between Nov 30 to Dec 20; result on Dec 23
- the US wants India to open up more sectors for its companies
- Saudi crown prince approves Aramco IPO, announcement likely Sunday
- Strides Pharma likely to launch affordable insulin from Stelis stable
- Replace engines of 98 Airbus A320neo aircraft by Jan 31, DGCA asks IndiGo
- Rs 12,000-cr tax blow: I-T dept cancels the registration of 6 Tata Trusts
- WhatsApp did not disclose information about Pegasus in May, says govt
- Maithan Alloys plans new subsidiary for a greenfield project in Bengal
- iSprout launches its 6th center in Hyderabad
- Maruti Suzuki October sales grow 2 percent YoY
Banking:
- PIL in HC seeks lifting of restriction on cash withdrawal from PMC bank
- IndusInd Bank NSE 5.08 % has finalised a potential candidate to replace Romesh Sobti as the new CEO of the bank
- Mumbai: The Securities and Exchange Board of India (Sebi) has asked banks to disclose any material divergences in their non-performing assets on a continuous basis.
- United Bank of India to allot shares to govt for Rs 1,666 crore infusion
- SBI expects a return on assets to hit 4-year high this fiscal
- New Delhi: State-owned Bank of India (BoI) on Friday reported a net profit of Rs 266.37 crore for the second quarter ending
- New Delhi: Karur Vysya Bank reported a 24.4 percent decline in September quarter net profit at Rs 63.33 crore due to higher provision for bad loans.
- Yes Bank stock jumps 24% on $1.2-billion investment offer
- CK Narayan of Chart Advise has a buy call on State Bank of India NSE 0.37 % with a target price of Rs 324. The current market price of State Bank of India is Rs 309.95.
- Diluting Government Stake Below 50% In Banks No Solution: Unions
- Indian companies take the ECB route, mop up $25 billion in HI
- Dhanlaxmi Bank Q2 profit rises to ₹22 crore
- Tobacco giant Altria cuts value of its JUUL stake by $4.5 billion
- Noida-based co-working startup Smartworks raises ₹177 crore
- ByteDance, which owns TikTok, posts ₹3.4 crore FY19 profit in India
- DGCA asks IndiGo to fix engines in 97 A320neo by January 31
- Vodafone Idea gains 23% after co denies reports of exiting India biz
- Srikalahasthi Standalone September 2019 Net Sales at Rs 457.35 crore, up 4.48% Y-o-Y
- Central GST (CGST) and State GST (SGST) collections stand at Rs 17,582 crore and Rs 23,674 crore, respectively.
- India's October jobless rate at 8.5%, highest since August 2016: CMIE
- Chandrayaan-2 detects noble gas isotope from an altitude of 100 km
- Parliamentary panel to study automobile industry slump, seek revival steps
- Abhijit Banerjee's idea of privatization won't end PSBs' NPA woes: Unions
- India, Germany ink 11 pacts, vow to build 'new India' by 2022, says PM Modi
- AGR verdict: COAI seeks 10 years to pay dues with 2-year moratorium
- Finance Ministry job ended unceremoniously, says Subhash Chandra Garg
- TVS Motor domestic sales down by 25% YoY in October, exports rise 20%
- Auto slowdown: Ashok Leyland M&HCV domestic sales drop by 50% in October
- DGCA threatens to ground IndiGo A320neo planes if PW engines not replaced
- Dr Reddy's Q2 net doubles to Rs 1,092 cr on one-off gains, revenues up 26%
- Pepsico India wins US award for saving more than 17 billion litres of water
- Centrum MicroCredit buys Altura Financial with its Rs 100-crore loan
- Irdai asks insurers to give details on exposure to DHFL, IL&FS, ADAG
- Valued at $1 billion in the heyday, ShopClues sold for just about $100 million
- Getting employee pyramid right for growth: Cognizant CEO Brian Humphries
- Haldiram Snacks wants Lavasa Corporation split into three entities
- Centre wants WhatsApp to explain Israeli spyware breach by November 4
- Maruti Suzuki October sales rise 4.5% YoY to 1.53 lakh units led by compact, UV segments
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