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RBI sets up panel for stressed loans resolution norms

Special Correspondent Names members including ADB’s Gupta, IBA’s Mehta

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Braking hard: The investment in MANA was subject to winning the USPS bid. M&M exited the race due to ‘prevailing conditions’.

M&M drops U.S. capital plan after loss

Special Correspondent Aborts $500 mn investment amid ₹98-cr. Q1 group loss; seeks investor in Mahindra Electric

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The deal may provide synergy, says TIIL. (Above) Dare House, the headquarters of Murugappa Group.

TIIL in ₹700-crore pact to buy CG Power stake

Special Correspondent To get up to 56.6% via shares, warrants

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Watson Assistant ‘speaks’ for ICMR

K. Bharat Kumar ‘The AI engine helps boost response time during COVID-19’

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Debt recast may neither help ailing MSMEs nor lenders, says industry body

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Satyakam Arya, MD and CEO, DICV.

Daimler arm drives into used CV segment

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A view of theBombay Stock Exchange building in Mumbai.

Today's top business news: Stocks end day flat, gold smashes record high as safety rush intensifies, US 10-year bond yield turns negative, and more

The sun is reflected on Apple's Fifth Avenue store in New York.

Apple shines in pandemic with $2 trillion value on horizon

Uber lost $1.8 billion in 2Q as riders stayed home

AP However, itss food delivery business grew as more people ordered in

Silver lining: A good monsoon and a bumper kharif crop could ease food prices, the RBI noted. S. RAMBABU

Inflation to stay elevated: RBI

Special Correspondent Economy to shrink in FY21, says central bank; offers no estimate on contraction

Debt resolution plan to help borrowers, lenders: bankers

Special Correspondent Move will help soften impact of COVID-19, say analysts

Opinion & Analysis

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PARLEY | Comment

Parley: Does the Budget do enough in providing a stimulus to growth?

Suresh Seshadri By not cutting spending despite constraints, the Budget ensures momentum doesn’t backslide

A government that is clueless on the economy

Pulapre Balakrishnan Listening to the Budget speech, one would hardly get any indication of either the economic slowdown or the unemployment rate, which is the highest in decades

A Budget exercise that is designed for stressed times

T.T. Ram Mohan The FM deserves credit for keeping the capital expenditure steady amid receipts shortfall; but her plan does not meet market expectations of sweeping reforms

Markets

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Sensex, Nifty end flat on muted global cues

PTI Asian Paints was the top gainer in the Sensex pack.

Rupee settles nearly flat at 74.93 against US dollar

PTI The rupee ended almost flat at 74.93 (provisional) against the US dollar on Friday due to a caution prevailing in the forex market in view of mounting coronavirus cases and US-China trade tensions. Starting off on a tepid note, the rupee fell to a low of 75.04, but recovered slightly thereafter and moved in a narrow band throughout the session. It finally settled at 74.93, gaining 1 paisa over its previous close. On Thursday too, the rupee had closed steady after the Reserve Bank maintained a

Economy

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RBI sets up panel for stressed loans resolution norms

Special Correspondent Names members including ADB’s Gupta, IBA’s Mehta

4hrs

Debt recast may neither help ailing MSMEs nor lenders, says industry body

Special Correspondent Viability’s meaning changed due to COVID-19: industry body

4hrs

Industry

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INTERVIEW | SUBRAM NATARAJAN Industry

Watson Assistant ‘speaks’ for ICMR

M&M drops U.S. capital plan after loss

Daimler arm drives into used CV segment

Debt recast may neither help ailing MSMEs nor lenders, says industry body

TIIL in ₹700-crore pact to buy CG Power stake

Kia unveils compact SUV Sonet

RBI sets up panel for stressed loans resolution norms

Names members including ADB’s Gupta, IBA’s Mehta

CBI books former ESIC Director-General, 7 others

The agency has alleged that P.C. Chaturvedi in conspiracy with others sanctioned these projects during 2007-09 in violation of CVC guidelines.

Reserve Bank of India reveals nation’s mood: Rahul Gandhi

He also said one can expect more bad news on jobs and the country’s economy.

RBI sets up panel under Kamath to suggest steps to deal with coronavirus-related stressed assets

The Committee will submit its recommendations to the RBI, which will notify them along with modifications, if any, in 30 days.

Exim Bank extends $250 million line of credit to Mozambique

The agreement to this effect was signed on August 3

Sensex, Nifty end flat on muted global cues

Asian Paints was the top gainer in the Sensex pack.

Switzerland signs vaccine deal with Moderna

The Swiss federal government has struck a deal with Moderna to supply Switzerland with 4.5 million doses of COVID-19 vaccine if the US biotech firm

Indian Overseas Bank cuts base rate to 9.35%

State-owned Indian Overseas Bank (IOB) on Friday said it has slashed its base rate by 0.10% to 9.35%.“The asset liability management committee of our

Rupee settles nearly flat at 74.93 against US dollar

The rupee ended almost flat at 74.93 (provisional) against the US dollar on Friday due to a caution prevailing in the forex market in view of

Sensex drops over 200 points in opening trade; Nifty below 11,200

HCL Tech was the top laggard in the Sensex pack.

Rupee edges 4 paise lower to 74.98 against US dollar in early deals

The Indian currency had ended steady on Thursday.

Apple shines in pandemic with $2 trillion value on horizon

Apple has been at the vanguard of a group of Big Tech companies that are increasingly taking over people’s lives and the stock market

Uber lost $1.8 billion in 2Q as riders stayed home

However, itss food delivery business grew as more people ordered in

Coronavirus | Facebook employees to work from home until July 2021, get $1,000 for home offices

The company joins other big technology firms that have taken similar steps recently.

Today's top business news: Stocks end day flat, gold smashes record high as safety rush intensifies, US 10-year bond yield turns negative, and more

Updates from the world of economy, markets, and finance

Nod for banks to invest in debt via MFs

With a view to expanding the bond market, the RBI on Thursday permitted banks to invest in debt instruments through mutual funds (MFs) or exchange

Total, Adani to apply for fuel pump licence

A newly formed joint venture of French supermajor Total and an Adani group firm will soon apply to the government for permission to open petrol pumps

WFH: security product firms have key role

Indian security product companies have a significant opportunity to help address security challenges that have emerged as a number of enterprises

Easy liquidity led to faster monetary transmission: Das

‘Banks passed on 162-basis point rate cuts in 17 months’

Bank, realty, auto stocks see mixed trend

Interest rate-sensitive bank, realty and auto stocks closed on a mixed note on Thursday after the RBI left interest rates unchanged but maintained an

Regulator extends debt recast plan for MSMEs

Scheme extended till March 2021

Inflation to stay elevated: RBI

Economy to shrink in FY21, says central bank; offers no estimate on contraction

NCLAT sets aside bid for Ricoh India

Bid for firm accepted after deadline expired

Debt resolution plan to help borrowers, lenders: bankers

Move will help soften impact of COVID-19, say analysts

Voda-Idea loss widens fivefold

First-quarter revenue declines 5.4% on lockdown woes

Offline retail payments set for fillip

Use of cards, wallets and mobile devices to increase

Two-wheeler sales to contract up to 18% in FY21: ICRA

Firm cites demand-supply constraints, higher cost of ownership

Rane Engine Valve Q1 loss widens to ₹16.3 crore

Rane Engine Valve Ltd, (REVL), a leading manufacturer of engine valves, guides and tappets, net loss for the quarter ended June widened to ₹16.3 crore

Rupee settles flat at 74.94 against US dollar after RBI keeps rates on hold

The rupee pared initial gains and settled for the day on a flat note at 74.94 against US dollar after the Reserve Bank of India (RBI) on Thursday

Sensex surges 369 points post RBI policy; Nifty tops 11,200

Tata Steel was the top gainer in the Sensex pack.

RBI enhances gold loan-to-value ratio to 90%

This is applicable only till March 31, 2021.

RBI revises guidelines for opening Current Accounts

The new rules will be applicable to existing current, CC/OD accounts with various banks.

Canara Bank slashes MCLR by up to 30 bps across various tenors

The six-month MCLR has been cut to 7.40% from 7.50%, the bank said.

RBI keeps key policy rates unchanged

It allows banks to restructure corporate, individual loans

Sensex jumps over 150 points ahead of RBI policy outcome; Nifty tops 11,150

ONGC was the top gainer in the Sensex pack, rising over 3%

Only 0.3% of I-T returns in Tamil Nadu scrutinised for assessment year 2018-19

Data from the Finance Ministry showed that the scrutiny rate in 2018-19 is the lowest over the past four assessment years

Coronavirus | Coronil demand at 10 lakh packs a day, says Baba Ramdev

Earlier in June, the AYUSH Ministry had restricted Patanjali from selling the drug as a cure for the virus instead allowing it to be sold only as an immunity booster.

Rupee surges 16 paise to 74.78 against U.S. dollar ahead of RBI policy decision

Forex traders said investor focus will be on the RBI monetary policy, scheduled for later in the day.

South Indian Bank gets RBI’s in-principle nod to set up non-financial subsidiary

Private sector lender South Indian Bank (SIB) on Wednesday said the RBI has given an in-principle approval for setting up a wholly owned

Byju’s acquires WhiteHat Jr for $300 million

Coding is fast emerging as a key skill for the futures, says the education technology firm

Centre formulating R&D policy to bolster drug discovery

Blueprint to cover medical devices, include incentives for scientists, says official

Canara Bank Q1 profit rises 24% to ₹406 cr.

Canara Bank reported a 24% rise in standalone net profit to ₹406 crore for June quarter 2020-21. The public sector lender had logged a net profit of

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