Category Archives: Business

RBI Unlikely To Accept Shadow Banks’ Bad-Loan Exemptions Requests: Report

Shadow banks wanted loans of up to 20 million rupees ($250,000) to be exempt. MUMBAI: India’s central bank is unlikely to give “shadow banks” exemptions from stricter bad-loan rules coming into force, sources told Reuters, essentially ending an advantage the non-bank financial firms have had over standard banks. Non-banking financial companies (NBFCs) have asked the… Read More »

SpiceJet Shares Fall Nearly 15% After CFO Quits On Widening Losses

SpiceJet falls nearly 15% on bigger quarterly loss BENGALURU: Shares of India’s SpiceJet Ltd fell as much as 14.7 per cent on Thursday, after the low-cost carrier posted a bigger loss due to high fuel costs and unfavourable foreign currency rates, and said its chief financial officer had resigned. SpiceJet said on Wednesday Chief Financial… Read More »

Government Targets To Increase Coal Production To 1.23 Billion Tonnes By 2024-25

CCL has a projected production contribution of about 135 million tonnes by FY25. New Delhi: The government targets to increase coal production to 1.23 billion tonnes by 2024-25, the Ministry of Coal said on Wednesday. The Ministry of Coal is in the process of enhancing coal production to an ambitious target of 1.23 billion tonnes… Read More »

Sony-Zee Merger Can Hurt Competition, Scrutiny Needed: Watchdog

NEW DELHI: A merger between the Indian unit of Japan’s Sony and Zee Entertainment to create a $10 billion TV enterprise will potentially hurt competition by having “unparalleled bargaining power”, the country’s antitrust watchdog found in an initial review, according to an official notice seen by Reuters. The Competition Commission of India’s (CCI) Aug. 3… Read More »

Government Warns Industry And Advertising Associations To Comply With Surrogate Advertisement Norms

The government would take stern action against the violators. New Delhi: Concerned over surrogate advertisements on television and social media platforms, the government on Wednesday directed industry bodies CII, Ficci and Assocham and those related to advertising and broadcasting to ensure compliance of the existing guidelines. Otherwise, the government would take stern action against the… Read More »

IndiGo, Virgin Atlantic Announce Codeshare Agreement

The agreement will allow Virgin Atlantic to sell seats to passengers connecting onto IndiGo flights. New Delhi: The country’s largest airline IndiGo and British carrier Virgin Atlantic on Wednesday announced a codeshare agreement. The agreement will allow Virgin Atlantic to sell seats to passengers connecting onto IndiGo flights. The initial codeshare destinations in India include… Read More »