Jalan panel suggests fund transfer in tranches over 3-5 years

New Delhi (IANS) The Bimal Jalan panel on Wednesday finalised the report on RBI surplus capital and though not unanimous on the quantum of transfer, it has recommended 3-5 year formula for transfer of surplus in tranches to the government.

Sources…

Government to amend IBC, raise resolution time frame limit to 330 days

New Delhi (IANS) The government on Wednesday cleared the introduction of seven amendments to the Insolvency and Bankruptcy Code (IBC) in the Parliament, including raising maximum resolution time frame limit to 330 days from the current 270 days.

Trump says US tariffs on China having 'major effect'

Washington (IANS) US President Donald Trump has said that the tariffs imposed by his administration were taking a toll on China's economy, causing the Asian giant's growth rate to slow.

"China's 2nd Quarter…

Tight liquidity dents June PV retail sales: FADA

New Delhi, July 16 (IANS) Tight liquidity conditions, along with a delay in Monsoon, dented consumer sentiment and dragged passenger vehicle (PV) retail sales lower by 4.6 per cent on a year-on-year basis in June.

According to data furnished…

Sensex ends 234 pts higher, Yes Bank gains 12%

Mumbai (IANS) Recovery in auto stocks and earning optimism over select stocks drove the markets higher for the second day in a row.

Sensex extended gains after opening a tad higher and ended Tuesday's session 234.33 points higher at…

Bhushan Power fraud: Allahabad Bank down 11%

Mumbai (IANS) In reaction to the Rs 1,774.82 crore Bhushan Power & Steel Ltd (BPSL) fraud that Allahabad Bank reported in the weekend, its scrips fell by over 11 per cent during the early trade on Monday.

At 9.22 a.m., the state-run…

Slowdown woes: Ashok Leyland temporarily shuts Pantnagar plant

Mumbai (IANS) Commercial vehicle maker Ashok Leyland on Monday said that owing to the "weak demand and outlook for the industry", it will close its Pantnagar plant in Uttarakhand for 9 days.

"The Company's Plant situated…

Jalan Panel may recommend Rs 50Kcr transfer from contingency fund

New Delhi (IANS) The Bimal Jalan panel, which is looking into the size of capital reserve that the Reserve Bank of India should hold, may recommend transfer of Rs 50,000 crore to the Centre from the contingency fund. The panel will submit its report…

IGE says Gangwal limited his financial risks in IndiGo

New Delhi (IANS) InterGlobe Enterprises (IGE), a promoter of IndiGo, said on Sunday that Rakesh Gangwal has always limited his financial risk in the airline and also alleged that he pushed for selling the business at difficult times.

In a bid…

Infosys net up 5.1% yearly, down 6.8% quarterly

Bengaluru (IANS) Global software major Infosys on Friday reported Rs 3,798-crore consolidated net profit for the first quarter (Q1) of fiscal 2019-20, registering 5.1 per cent annual growth from Rs 3.612 crore in the same period a year ago.

Sequentially,…