BUSINESS
NABARD logs 25% rise in loans and advances in FY21
In its annual report for FY21, G.R. Chintala, the Chairman of NABARD said that half of the total loans outstanding of Rs 6 lakh crore was for credit support of production activities at the grassroots and a third for infrastructure development. The Chairman said that NABARD has been a major player in the infrastructure space with 7.1 lakh projects sanctioned since inception of RIDF under agriculture, irrigation.
Pharma companies lead topline growth in Q1FY22
The report noted that the topline growth was also supported by the resilient IT sector on the back of increasing digital spends, and the resurgent metals space which witnessed firm product realisations. "In Q1FY22, topline growth on a QoQ basis was led by the pharma space, primarily the domestic branded formulations segment," said the recent report.
NABARD extends Rs 24.90 lakh grant for fishing project in TN
A statement from the NABARD on Sunday said the MS Swaminathan Research Foundation (MSSRF) will be implementing the project that is aimed at increasing the adaptive capacity of the fishing community. The project is being implemented at Cuddalore district of Tamil Nadu on 2.1 hectare of land in Mudasalodai village and involves traditional and Irula fishers from Mudosalodai and Kalaignar coastal hamlets mostly from Pichavaram.
GAIL to foray into ethanol & hydrogen production
In his message to the shareholders, in the annual report of GAIL, the Chairman and Managing Director of the company, Manoj Jain said that the energy company will be selectively investing in the renewable energy domain given the future growth potential. He said that to promote new technologies, GAIL has invested in startups that focus on electric vehicles, digitisation among others.
FinMin summons Infosys CEO over glitches in IT e-filing portal
In a tweet, the Income Tax Department also said that the portal is not available since Saturday, August 21. "Ministry of Finance has summoned Sh Salil Parekh, MD & CEO @Infosys on 23/08/2021 to explain to hon'ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved. In fact, since 21/08/2021 the portal itself is not available," the department said.
Finance Minister to launch National Monetisation Pipeline on Monday
The National Monetisation Pipeline (NMP) comprises a four-year pipeline of the Central Government's brownfield infrastructure assets. Besides providing visibility to investors, NMP will also serve as a medium-term roadmap for the Asset Monetisation initiative of the government, said an official statement.
483 infra projects report cost overrun of Rs 4.4 lakh cr
The Flash Report for central sector projects for July released by the Ministry of Statistics and Programme Implementation showed that 504 projects are running behind schedule. The total original cost of implementation of the 1,781 projects was Rs 22,82,160.40 crore and their anticipated completion cost is likely to be Rs 27,25,408.00 crore, which reflects overall cost overruns of Rs 4,43,247.60 crore.
FPIs invest Rs 5,001 cr in Indian equities so far in August
The FPIs have made a comeback after a net outflow of Rs 11,308 crore in July. With the investments in August, the net FPI investment in the equities segment in 2021 now stands at Rs 54,037 crore. During the week which ended on Friday, the Indian stock market scaled new highs, with the BSE Sensex crossing the 56,000 mark.
China's mobile game industry hits $2.8 bn: Report
The sales revenue of China's mobile game market topped 18.2 billion yuan (about $2.8 billion) last month, up 6.62 percent year on year, according to a report released by CNG, a research agency in the sector. On a monthly basis, however, the sales revenue dropped 6.28 percent in July, said CNG, reports Xinhua news agency.
OMCs finally cut petrol price by 15-20 paise after 35 days
Similarly, in Mumbai and Kolkata, the fuel was sold for Rs 107.66 and Rs 101.93 per litre, against the previous levels of Rs 107.83 and Rs 102.08 per litre respectively. In Chennai, petrol price was cut to Rs 99.32, down from Rs 99.47 a litre. In the Tamil Nadu capital, petrol prices fell by almost Rs 3 per litre on August 14 after the state government cut VAT on the fuel.
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