BUSINESS
Centre may front load capital provisioning for PSBs this year
Sources said that PSBs may be provided this year just after their first quarter results before October. This would be a departure from the practice of previous year when bank capitalisation was undertaken late in the year and towards the end of fiscal.
No more trading in DHFL shares starting Monday
The BSE and NSE have decided to suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) from Monday. The development follows the approval of the resolution plan of Piramal Capital & Housing Finance Ltd to acquire the bankrupt company.
International prices to help steelmakers tide over 2nd Covid wave: ICRA
Besides, ICRA expects domestic demand to recover in the coming months with the gradual lifting of lockdowns and mobility restrictions in India during June 2021 and improving vaccination coverage. This trend in turn will result in a pick-up in capacity utilisation levels, the agency said.
MoS Finance counters Bengal FM's charge of ignoring dissent, says GST Council reflects collective spirit
In his tweet, Mitra accused the Centre of completely ignoring his voice at the meet, forcing him to take the unprecedented step of recording his dissent by letter. To this, the tweet from the MoS Finance showed the details of what actually transpired at the GST Council meeting organised virtually, trashing all of Mitra's allegations while making it clear that Union Finance Minister Nirmala Sitharaman has never stifled dissent in the GST Council meetings.
Byju's most valuable startup in India, 11th in the world
As per CB Insights data, as of June 2021, Byju's is the 11th most valuable startup in the world. The total number of unicorns worldwide is 708 with a valuation of $ 2319 billion. Chinese company Bytedance, the parent company of TikTok, is the most valuable startup in the world with a valuation of $140 billion.
India to require 400k charging stations for 2 mn EVs by 2026: Report
The Grant Thornton Bharat-Ficci report said for India to reach its vision of 100 per cent EVs by 2030, factors such as increasing government support, decreasing cost of technology, and distressing pollution levels, would be key to accelerate this transition. As per EV industry body - Society of Manufacturers of Electric Vehicles - there are 1,800 charging stations in India as of March 2021 for approximately 16,200 electric cars, including the fleet segment.
IPO-bound LIC warns against misuse of its iconic logo
According to its Twitter handle, the LIC has barred any websites, publishing houses or digital entities from publishing its logo without the prior permission. The 65-year-old LIC, which is soon going for its IPO, has warned stringent legal or civil action against any person found misusing its official logo, in a post on Friday.
GST rates on Covid items slashed; vaccine still taxed at 5%
Addressing the media post the GST Council meet, Finance Minister Nirmala Sitharaman said that the council agreed to go with the recommendations of the Group of Ministers (GoM) that was single point agenda on the council on Saturday.
India asks Cambodia to withdraw meat import ban
India has asked Cambodia to withdraw the temporary ban on import of buffalo meat and other meat products from India immediately, making it clear that the move is harmful for business sentiments, especially when both countries are trying to negotiate a Bilateral Free Trade Agreement.
Low base: India's pharma sector growth accelerates in May
Low base effect accelerated the growth of India's pharma sector in May, India Ratings and Research (Ind-Ra) said. The ratings agency opined that the 47.8 per cent YoY growth in India's pharmaceutical market (IPM) during May 2021 was led by a low base effect. Last year, the IPM declined by 8.5 per cent YoY in May 2020 due to the lockdown.
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