RBI creates ‘Vision 2021’ for payment system to improve digital transactions

Aiming at a ‘cash-lite’ society, the Reserve Bank of India Wednesday curated a vision document for ensuring a safe, secure, convenient, quick and affordable e-payment system as it expects... Read more »

ArcelorMittal resolution plan violative of IBC: Essar Steel’s Ruia to NCLAT

Prashant Ruia, the promotor of debt-ridden Essar Steel, Wednesday submitted before the National Company Law Appellate Tribunal that the resolution plan moved by ArcelorMittal is in violation of the... Read more »

Passenger vehicle sales drop 17 percent in April, worst dip since 8 years

Passenger vehicle (PV) sales in India dropped by 17.07 percent in April, the sharpest decline since October 2011, as weak customer sentiment led by liquidity crunch, uncertainty revolving elections... Read more »

BSE gets certified with International Standard for Business Continuity Management System, India’s first Indian stock exchange to do so.

BSE, Asia’s oldest exchange and currently the world’s fastest exchange with the speed of 6 microseconds has become India’s first ever stock exchange to get certified with International Standard... Read more »

Impending crisis to be seen in the NBFC sector, says corporate affairs secretary

There is a turmoil in the non-banking financial companies (NBFCs) sector as inefficiencies by some large entities and credit squeeze present a perfect recipe for disaster, a senior government... Read more »

India’s fiscal deficit reaches 4.52% of GDP in February-end says report

India’s fiscal deficit was at Rs 8.51 lakh crore in February-end reaching 4.52 per cent of GDP, a senior Finance Ministry source told a news agency. The receipts are... Read more »

Yes Bank share jumps 6%, even after a downgrade by India Ratings

Yes Bank shares went up 6 per cent in late morning deals on Thursday after slipping nearly 2 per cent in early trade after ratings agency India Ratings (Ind-Ra)... Read more »

Financial creditors to see a peak in realisation because of IBC in FY2020

ICRA Ratings has estimated that the financial creditors would realise more than Rs. 800 billion in FY2020 from the Insolvency and Bankruptcy Code (IBC), compared to about Rs. 660... Read more »

Vedanta FY19 PAT drops 29% to Rs 9,698 crore, revenue up 1% at Rs Rs 90,901 cr

The Anil Agarwal-led Vedanta secured a 29 per cent year-on-year decline in consolidated profit after taxes (PAT) at Rs 9,698 crore in the financial year 2018-19. The mining company... Read more »

Gold imports to India witness a 27% spike in March quarter

The net import of gold by India went up by 27 per cent during the March quarter of calendar year 2019 on the back of fall in prices and... Read more »