Category «Economy»

Sebi prohibits Maitreya Services from disposing assets

Sebi board approves budget for next fiscal 2016-17

Sebi has prohibited Maitreya Services from selling various immovable properties, including seven assets in Maharashtra and Gujarat, as part of its efforts to recover over Rs 82 crore in an illegal money pooling case. On January 22, Sebi had asked the company as well as its two directors — Varsha Madhusudan Satpalkar and Janardan Arvind …

Karur Vysya Bank Q2 net down 11.18% at Rs 126.31 cr

karur vysya bank profit

Private sector lender Karur Vysya Bank today reported a 11.18 per cent decline in net profit at Rs 126.31 crore for the second quarter ended September 30, mainly due to higher expenses. The bank had recorded a net profit of Rs 142.22 crore in the corresponding quarter last fiscal. The total income of the lender …

Bourses seek response from Tata firms on Mistry’s disclosures

cyrus mistry

Indian stock exchanges BSE and NSE on Wednesday sought clarification from Tata group’s leading listed firms on startling disclosures Tata Sons’ ousted Chairman Cyrus Mistry made in a letter to its directors. “The Exchange has sought clarification from the company with respect to news article appearing on Bloomberg on October 26, 2016 titled ‘Ousted Tata …

Modi asks top bureaucrats to act for better ‘ease of doing business’ rank

ease of doing business

Apparently disappointed at India’s persistent low ranking in the World Bank’s ‘ease of doing business’ index, Prime Minister Narendra Modi on Wednesday asked top bureaucrats to study the report and give their feedback within a month. Chairing the 16th PRAGATI (Pro-Active Governance and Timely Implementation) meet, he asked the Chief Secretaries of the states and …

Enormous potential for trade with India, says New Zealand PM

enormous-potential-for-trade-with-india-says-new-zealand-pm

New Zealand Prime Minister John Key on Wednesday said that there is enormous potential for trade between his country and India that can be tapped to the benefit of both and called for an early conclusion of the bilateral Free Trade Agreement. Key’s remarks came at a business meet here, organised by Confederation of Indian …

Bad loans, not interest rates impeded lending to industries

bad-loans-not-interest rates-impeded-lending-to-industries

It is the non-performing loans built by government banks that has impeded lending to industries and not the high interest rates charged by the bankers, marketing research and analysis consultancy Frost & Sullivan said on Wednesday. In a statement, Frost & Sullivan said the steady fall in non-food credit from 20.7 per cent in fiscal …

World bank disregard 12 Key reforms undertaken by India in Doing Business report 2017

world doing business report 2017

India’s rank remained unchanged vis-a-vis last year’s original ranking of 130 among the 190 economies assessed on various parameters in the World Doing Business report 2017 released on Tuesday. With last year’s ranking, however, being revised to 131, India has, effectively, improved its place by one spot for 2017. India, thus, continues to rank 130th, …

Wipro net down in Q2; revenue outlook flat for Q3

wipro-net-down-in-q2-revenue-outlook-flat-for-q3

Unlike its peers TCS and Infosys, India’s third-largest software firm Wipro on Friday reported a lower net profit for the second quarter and projected flat revenue from its IT services for the third quarter of this fiscal (2016-17) due to weak demand and uncertainty in technology spend. For the second consecutive quarter (July-September) the company’s …