BUSINESS
Why did Chinese shoppers hold back spending even ahead of Covid wave?
Analysts said that for Beijing, the real challenge would lie in addressing the stagnant unemployment problem, ageing population and the youth who have taken to "lying flat" phenomenon. China's unemployment rate has remained at just over 5 per cent for many months now.
One principal object of IBC to revive debtor, liquidation last resort: SC
A bench of Justices L. Nageswara Rao, B.R. Gavai and B.V. Nagarathna said: "It could thus be seen that one of the principal objects of the IBC is providing for revival of the corporate debtor and to make it a going concern. Every attempt has to be first made to revive the concern and make it a going concern, liquidation being the last resort."
Rs 14 lakh cr loans given under KCC so far: Agriculture Minister
Stating that the benefits of Central government's schemes for the agriculture sector should reach the correct farmers, he said, although funds are not a constraint, "it is the implementation of the scheme which should be proper". Addressing the conference of Lt Governors/Administrators of all Union Territories, Tomar, emphasising on the KCC drive, said the Kisan Credit Card cover has been provided to farmers even under the shadow of Covid.
Delhiites can soon skip visiting banks for hypothecating vehicle loans
"Directions have been issued to ensure no physical documents will be received regarding hypothecation addition and termination after October 31. Further, we've also clarified that banks or lending institutions will have to submit all the documents and NOC digitally through OTP generated on Aadhaar linked mobile number, and hence do away with any requirement of a physical signature," said a statement quoting Delhi Transport Minister Kailash Gahlot, who convened a meeting with all the major banks offering vehicles loans on Wednesday.
Industry hails 'path breaking' telecom reforms
Cellular Operators Association of India Director General S.P. Kochhar said the measures show the government's intent for the much-needed structural reforms in the telecommunications sector, in scripting the success of Digital India, and in accelerating the journey to meet Digital India goals which will ultimately deliver ample benefit to the individual consumers.
Adani Transmission to strengthen power transmission system in MP with capex of Rs 1.2K cr
ATL won the project through the tariff-based competitive bidding (TBCB) process and received the LoI on September 14. ATL will build, own, operate and maintain the transmission project in the state of Madhya Pradesh for a period of 35 years. The project, ‘MP Power Transmission Package-II Limited', consists of approximately 850 ckt km of transmission lines and air insulated substations of various voltage levels.
No leadership structural changes on the anvil: Tata Sons Chairman
On Tuesday, a source-based report by a newswire stated that Tata Sons is considering "historic revamp of its leadership structure by creating a Chief Executive Officer's role to help improve corporate governance". Chandrasekaran's tenure as the Chairman of Tata Sons is coming to an end in February next year. The vacancy created after him fuelled speculation of a revamp in the leadership structure at the conglomerate.
CAIT launches campaign against arbitrariness of big foreign e-tailers
As part of launching the movement, the Secretary General of CAIT, Praveen Khandelwal, took out a protest march from Delhi to Agra, enroute which he participated in dharnas in eight different cities and towns, including Noida, Faridabad, Ballabhgarh, Palwal, Nodal, Kosi and Mathura.
Tatas among multiple bidders for Air India
"Tatas have submitted a financial bid for Air India," a Tata Sons spokesperson said. Taking to Twitter, DIPAM Secretary, Tuhin Kanta Pandey said that the disinvestment process now moves to the concluding stage. "Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," he posted.
Cabinet okay PLI scheme for auto, auto components
The scheme will also be applicable for the drone industry. The overall budgetary outlay for the scheme for these sectors will be Rs 26,058 crore. According to the government, the scheme will incentivise emergence of advanced automotive technologies global supply chain in India and bring fresh investments of over Rs 42,500 crore in five years.
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