Tuesday , 10 December 2019
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BIZ SCAN

Jan Utkarsh vehicle loan scheme Mapusa: In view of the festive season, Jan Utkarsh Urban Co-operative Credit Society Ltd has launched ‘festival vehicle dhamaka’ scheme for purchase of two-wheelers and four-wheelers. The society will advance up to 90 per cent of the invoice price at 11 per cent rate of interest. Addressing media persons in the presence of vice chairman …

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Govt for fresh legal opinion on BPCL privatization

New Delhi: It may still be a long road ahead for privatisation of public sector oil refiner Bharat Petroleum Corporation Ltd (BPCL). The possibility of legal challenge over any plan to sell the government stake in the oil PSU has pushed executives and government officials to seek fresh legal opinion on the proposed disinvestment move. “BPCL and HPCL were acquired …

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‘RBI not looking at liquidity facility for NBFCs’

Mumbai: Reserve Bank of India (RBI) has ruled out any special liquidity facility for Non Banking Financial Institutions (NBFCs) saying there is enough in the system to meet their needs for borrowings and it is for the lenders to take a call on lending to the NBFCs. “Reserve Bank’s position is that there is adequate liquidity in the system and it …

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Banning Huawei may raise Indian telcos’ capex on 5G: Fitch

New Delhi: If the Indian government does not allow Huawei to build a fifth-generation (5G) network in the country, then Indian telecom operators may have to spend more on 5G infrastructure, US Rating agency Fitch has said in a report. “We are of the opinion that Indian telcos may need to invest more on 5G capex –especially on the equipment if Huawei …

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Vedanta’s Value Added Business bags 2 Safety Awards

PANAJI: Vedanta Sesa Goa Iron Ore’s Value Added Business was awarded 2 prestigious safety awards- “Gomant Sarvocha Suraksha Puraskar” and “Gomant Suraksha Puraskar” organised by Green Triangle Society in association with the Inspectorate of Factories and Boilers. These awards are conferred to recognise exemplary performances by companies in maintaining consistent and meritorious Occupational Safety and Health (OSH) performance.  Vedanta’s Value …

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BIZ SCAN

Vespa and Aprilia announce funtabulous festive offer PANAJI: Piaggio India is back with its festive offer and has announced a fun-filled and lucrative ‘Funtabulous Offer’ on its Vespa and Aprilia range of two-wheelers. Aimed at the festive season, customers can avail this unique offer from August to October and earn benefits worth INR 10,000 on both the brands.  Aligned to …

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Fresh raids in Mumbai in PMC Bank scam

IANS New Delhi Enforcement Directorate said on Monday it is carrying out raids at two places in Mumbai of Housing Development and Infrastructure Limited (HDIL) Chairman Rakesh Wadhawan and his son Sarang Wadhawan following fresh revelations in the Punjab & Maharashtra Cooperative (PMC) Bank fraud case, as the ED found another jet and a yatch registered in the names of the …

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Samsung heir in India, likely to meet Modi, Mukesh Ambani

IANS Mumbai Samsung Electronics Vice Chairman Lee Jae-yong is currently in India, provoking speculation that the South Korean tech giant may make further investments to expand its presence in the country, industry sources said on Monday. Lee is likely to meet Prime Minister Narendra Modi and Reliance Industries Chairman Mukesh Ambani this week, reports Yonhap news agency. Lee arrived in India on Sunday and …

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India’s deposit insurance coverage among the lowest: SBI

IANS Mumbai A state-run State Bank of India (SBI) report on Monday said that the deposit insurance coverage in India is one of the lowest in the world. A deposit insurance coverage ensures that the depositor gets a certain amount, before the bank pays other parties at the time of liquidation. In India, deposits are insured up to Rs 1 lakh, while …

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SpiceJet allowed to self-handle cargo, private firms fume

IANS New Delhi The Civil Aviation Ministry has allowed Ajay Singh-led SpiceJet to carry out self-handing of cargo from “off-airport facilities”, causing heartburn among private airport operators. The order has been issued in accordance with ground-handling regulations (GHA), 2018 but has left some of the private airport operators miffed as this means loss of revenue for them. The private airport …

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