ECONOMY & NATION


Japanese conglomerate SoftBank Group Corp (SBG) on Wednesday recognised losses of  USD 1.4 billion in 2016-17 from its India investments -- Snapdeal and Ola.   "SBG recorded loss from financial instruments of 160,419 million Japanese Yen ($1.4 billion) in its consolidated financial...

Read More



Moneylife Digital Team 10 May 2017
Capital First Limited reported a profit after tax of Rs238.9 crore for FY17, an increase of 44% from Rs166.1 crore in FY 16. Capital First reported a profit after tax of Rs70.8 Crores for Q4 FY17, an increase of 49% from Rs47.5 crores in Q4 FY 16. This is the highest ever quarterly profit in...

Read More



Infosys plans to soon "fire" an unspecified number of its techies for "non-performance", over a week after announcing on May 2 that it would hire 10,000 Americans in the US, said the global software major on Wednesday.   "A continued low feedback on performance could lead to certain...

Read More



Aparajita Gupta (IANS) 10 May 2017
The Indian government needs to set up a stable tax framework and reduce the burden of regulation to attract more foreign investments, according to a top executive of Dell Technologies.   "We are hopeful that the new Goods and Services Tax regime should be helpful. What we want the...

Read More



Nitu Poddar  and   Vallari Dubey 10 May 2017
The Joint Lenders’ Forum (JLF) and Corrective Action Plan (CAP) work on the principle of identifying the stress in a borrower and cure it at its nascent stage. The intent is to preserve the economic value of the underlying assets against the loan extended by the creditor.    The RBI...

Read More



In a reprieve for alleged Indian spy Kulbhushan Jadhav, the International Court of Justice has suspended the death sentence on him by a Pakistani military court, External Affairs Minister Sushma Swaraj said on Tuesday.   "I have spoken to the mother of #KulbhushanJadhav and told her...

Read More



Domestic passenger cars' sales rose by 17.36 per cent in April, industry data showed on Tuesday.   As per the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger cars surged to 190,788 units from 162,566 sold in April 2016.   The...

Read More



State-owned lender IDBI Bank on Tuesday evening said that Reserve Bank of India (RBI) has initiated a "prompt corrective action" (PCA) Ain view of its high non-performing assets (NPAs) and negative return on assets (RoAs).   "RBI, vide their letter dated May 05, 2017, has initiated...

Read More



A fast track court on Tuesday pronounced the death sentence for three prime accused in the sensational October 2009 gangrape and murder of software engineer Nayana Phatak-Pujari.   Special Judge L. L. Yenkar, who on Monday convicted Yogesh Ashok Raut, Mahesh Balasaheb Thakur...

Read More



Over two years after the Central government's directive to all states, Maharashtra government has barred all schools from serving 'junk' or 'fast' foods, or those high in fats, salt and sugar content, at their student canteens and offer instead a healthy and hygienic...

Read More



Moneylife Digital Team 09 May 2017
The price of crude oil has plummeted more than 15% in recent weeks, to around $48 per barrel. The easing of crude oil prices will have a positive effect not only on inflation but on India's gross domestic product (GDP) growth, says a research report.   In the note, State Bank of India...

Read More



On 5th May, president Pranab Mukherjee gave his assent to an ordinance to amend Section 35 of the Banking Regulation Act, 1949, empowering the Reserve Bank of India (RBI) to tackle bad loans of public sector banks (PSBs). Since details of the ordinance were not available at the time of...

Read More



The Supreme Court on Tuesday held the Calcutta High Court's Justice C.S. Karnan guilty of contempt and ordered he be jailed for six months.   Holding Justice Karnan guilty of contempt for his utterances against the Chief Justice of India and other judges of the apex court and the...

Read More



Amit Kapoor (IANS) 09 May 2017
India's NPA problem has a flip side to it: the issue of rising corporate debts.   The IMF, in its latest Global Financial Stability Report, warned that rising corporate debts were a risk to growth in emerging markets and pointed out that India's debt is one of the highest among these...

Read More



The Supreme Court on Tuesday held beleaguered liquor baron Vijay Mallya guilty of contempt in a case filed by a consortium of 13 banks he owes money to.   A bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit gave Mallya an opportunity to present his case on July 10, when...

Read More



Moneylife Digital Team 08 May 2017
Gross non-performing assets (NPAs) of nine private banks increased to 3.91% in March 2017 from 1.93% in March 2015 against their total advances. However, during the quarters ended in December 2016 and March 2017, the ratio of gross-NPA to total advances have remained unchanged. Maintenance of...

Read More



In a setback for RJD supremo Lalu Prasad, the Supreme Court on Monday set aside a Ranchi High Court ruling and ordered that he be tried in all the remaining five fodder scam cases.   The Rashtriya Janata Dal chief has already been convicted in one of the fodder scam cases and his...

Read More



Natco Pharma on Monday said it has launched a generic version of sofosbuvir 400 mg/velpatasvir 100 mg tablets in India, which is used for treatment of chronic hepatitis C virus (HCV) infection.   The pharmaceutical company said in a regulatory filing to the BSE that it will market the...

Read More



A day after a video of IPS officer Charu Nigam breaking down in public after being shouted at by a BJP legislator became viral and created a furore, the officer took to her Facebook page to thank everyone for their support.   In a message posted on her social networking site profile,...

Read More



The Delhi Metro Rail Corporation (DMRC) is set to announce new fares on Monday, an official said.   "The Board of Directors is meeting to decide on the hike in fares of Delhi metro," an official told IANS.   "The announcement on the fare hike will be made in the evening," he...

Read More

Free Helpline
Legal Credit
Feedback