Business

HDFC to consider raising Rs 45,000 cr via issuance of NCDs

Thursday, 03 January 2019 16:34
The HDFC’s Board will consider raising Rs 45,000 crore through issuance of secured redeemable non-convertible debentures (NCDs). Accordingly, the company’s Board will consider the issuance of NCDs on private placement basis in a meeting on January 29, 2019. “The board…

Samsung to supply auto chips to Audi

Thursday, 03 January 2019 16:23
Samsung Electronics Co. said on Thursday it has clinched a deal with German carmaker Audi AG to supply automotive processors designed for in-vehicle information and entertainment systems. The South Korean chipmaker, which first showcased the automotive chip brand in October…

ICRA downgrades Jet Airways’ credit facilities

Thursday, 03 January 2019 10:18
Rating agency ICRA has downgraded financially-troubled Jet Airways’ short and long term credit facilities after the company on Tuesday reported a delay in paying interest and instalment due to banks. The downgrade comes at a time when India’s airline sector…

Day after allowing loan restructure, RBI sets up committee on MSMEs

Thursday, 03 January 2019 09:59
The Reserve Bank of India (RBI) on Wednesday set up an expert committee to propose long-term solutions for the economic and financial sustainability of the micro, small and medium enterprises (MSME) sector currently plagued by liquidity and other issues. An…

Don’t need RBI’s reserves to meet fiscal deficit: Jaitley

Tuesday, 01 January 2019 08:57
Finance Minister Arun Jaitley on Monday made it clear that the government does not need RBI’s reserves to bridge the widening fiscal deficit as the Lok Sabha voted the Supplementary Demands for Grants for 2018-19 to the tune of Rs…

India’s external debt fell to $510.4 bn at end-September

Tuesday, 01 January 2019 08:53
India’s external debt in the first-half of this fiscal fell 3.6 per cent by $19.3 billion to $510.4 billion owing to a decrease in commercial borrowings, non-resident Indian (NRI) deposits and valuation effect, the Reserve Bank of India (RBI) said…

RCOM, Jio extend validity of asset-sale deal to June 28

Tuesday, 01 January 2019 08:49
Reliance Communications (RCOM) and Reliance Jio on Monday announced the extension of their agreement for selling RCOM’s wireless infrastructure including towers, fibres and spectrum to the Mukesh Ambani-led Reliance Jio. The decision comes amidst the pending approval of the Department…

SBI Life Insurance signs ‘bancassurance’ pact with Allahabad Bank

Monday, 31 December 2018 16:37
Leading private insurer SBI Life Insurance on Monday said it has signed a ‘bancassurance’ pact, with state-run Allahabad Bank to offer a financial planning solution to consumers. One of the largest bancassurance partnerships in the country will see 3,238 branches…

India will see strong economic growth in 2019: CII

Sunday, 30 December 2018 17:08
India will witness strong economic growth in the coming year, despite external vulnerabilities arising from rising oil prices, the US-China trade war and America’s monetary tightening, the Confederation of Indian Industry body (CII) said on Sunday. Commenting on the country’s…

Government to infuse more than Rs 10,000 cr into Bank of India

Sunday, 30 December 2018 16:52
The Central government has decided to infuse Rs 10,086 crore into Bank of India. The bank informed the BSE in a regulatory filing on Saturday that the capital infusion in its equity will be done by way of preferential allotment.…