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Govt mulling converting India Post Bank to small fin bank

New Delhi: The government on Wednesday told Lok Sabha that it is exploring the possibility of converting India Post and Payments Bank into a small finance bank. “Possibilities of converting it (IPPB) into a small finance bank is being explored. A Task Force has been set up for studying the logistics and feasibility of conversion of IPPB,” said Union IT …

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RBI supersedes DHFL board, to initiate insolvency proceedings

Mumbai: Citing governance concerns, the Reserve Bank of India on Wednesday superseded the Board of Directors of Dewan Housing Finance Corporation Limited (DHFL) and said it intends to shortly initiate the process of resolution of the company. The RBI also appointed the R Subramaniakumar, ex-MD and CEO of Indian Overseas Bank, as the “Administrator under Section 45-IE (2) of the Reserve Bank of …

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Shopping festival starts in Mapusa

Panaji: Goa Shopping Festival, the lifestyle shopping festival exhibition is underway for the first time at Mapusa, opposite Bodgeshwar Temple.  There are lot of exclusive offers on home, office, dining tables, 120 types of imported sofa sets, furniture, furniture, air conditioners, money counting machine, mattress from home fashion, Italian blankets, kitchenware, carpets, toys, invertors, solar heaters, curtains, imported artificial flowers …

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Mallya’s Kingfisher House to go under the hammer again

Mumbai: The Kingfisher House — the erstwhile headquarters of the defunct Kingfisher Airlines Ltd. (KAL) – owned by absconding liquor baron Vijay Mallya, will be up for auction again. The 8th time in barely three years. The Debts Recovery Tribunal (DRT), Bengaluru, has announced a new auction date of November 27 through an online bidding process, for the beleaguered property. From …

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ECONOMIC SCAN

Godrej Locks hold ‘Home Safety Assessment Programme’  Mumbai: On Home Safety Day, Godrej Locks, India’s most trusted locking solutions brand, unveiled free Home Safety Assessment Programme through which citizens can measure the safety strength of their homes. The Home Safety Assessment Programme is part of the first year anniversary of #Har Ghar Surakshit, India’s biggest public awareness campaign driven by Godrej Locks to make …

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Give 2-yr-moratorium: COAI to govt

IANS New Delhi The mobile industry has urged Government to help the telcos restructure their debts with a two-year moratorium, lower interest and longer repayment time to help them come out of the financial crisis which has been aggravated by the AGR order of the Supreme Court. “It will need a 20 per cent increase in ARPU to get the companies …

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India still projected as fastest growing economy: FM

PTI New Delhi Finance Minister Nirmala Sitharaman on Monday said in the Lok Sabha that growth has decelerated, but there is no slump and India is still projected to be the fastest growing economy in FY20 among the G-20 nations. She said the government has been taking several measures to address moderate levels of fixed investment rate in the economy, …

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Bengaluru Tech Summit kicks off

IANS Bengaluru Bengaluru Tech Summit (BTS), one of the premier technology summits of the country kicked off with Karnataka Chief Minister B S Yeddiyurappa inaugurating the same here. «Karnataka is the top state in attracting investment and our ease of doing business environment helps in this. Besides IT revolution, now the state is driving startup revolution for India,» said Yeddiyurappa on Monday …

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New bankruptcy laws for financial services providers

New Delhi: The Ministry of Corporate Affairs (MCA) on Friday notified the rules for resolution of systemically important financial services providers (FSPs) under the bankruptcy law. The new rules will ensure that problems in systematically important NBFCs such as Dewan Housing Finance Corporation (DHFL), IL&FS Financial Services, and India Bulls does not create trouble for the entire sector. The rules …

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Huge reserves of potash found in Rajasthan

Jaipur: A huge reserve of potash deposits has been found in Rajasthan which is expected to bring down its import, government sources said. “Geological studies have confirmed that there are reserves of around 2,400 million tonnes of potash deposits in Nagore-Ganganagar basin of Rajasthan covering parts of Sriganganagar, Hanumangarh and Bikaner districts, which is estimated to be around 5 times …

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