Day: July 5, 2020

DHFL defaults on NCD repayments of Rs 50 cr; says can’t pay due to moratorium restrictions

3:28 pm July 5, 2020

New Delhi: DHFL has defaulted on payment of Rs 50 crore on bonds, saying the company is not in a position to make payments to the lenders as it is under moratorium since last November. The payment has not been made by the company to the respective investors of the secured NCDs (non-convertible debentures) for a principal […]

Need robust global cooperation to fight cross-border tax evasion, avoidance: FM

TMC MP calls FM “venomous snake”, BJP says he’s talking “nonsense”

3:24 pm July 5, 2020

Kolkata: In controversial remarks, TMC MP Kalyan Banerjee has equated Union Finance Minister Nirmala Sitharaman with a “venomous snake” for her handling of the economy, drawing a sharp reaction from the BJP which said Mamata Banerjee has lost control over her party leaders who are “uttering nonsense” out of frustration. Addressing a protest rally at Bankura against rising fuel prices and the proposed privatization of trains on […]

Rains drench Delhi, more expected

3:20 pm July 5, 2020

New Delhi: Afresh bout of rain and high-velocity winds lashed the national capital on Sunday night, bringing the mercury down by several notches. The Met department has predicted more rain, thunderstorm and strong surface winds during the day. The Safdarjung Observatory, which provides representative figures for Delhi, recorded 33.6 mm rainfall till 8:30 am. The Palam station gauged […]

Federal Bank bets on gold loans to drive credit demand in sluggish economy

3:17 pm July 5, 2020

Mumbai: Federal Bank is focusing on safer gold loans amid the COVID-19 pandemic and hopes to grow faster than last year in the segment as demand for other credit slows down, a top official has said. The nod by the bank‘s board to raise up to Rs 12,000 crore capital is only an enabling resolution […]

India to save 20 pc logistic cost in supplies to CIS countries via Chabahar: Mandaviya

3:13 pm July 5, 2020

New Delhi: By developing strategic Chabahar Port in Iran, Indian will reduce logistics cost by 20 per cent in container transport to CIS countries, bypassing China or Europe, Union Minister Mansukh Lal Mandaviya has said. So far, CIS countries could be reached only via China or Europe, he said. Chabahar port, located in the Sistan-Balochistan province at energy-rich Iran’s southern coast, lies outside the Persian Gulf and is easily accessed from India’s western coast, […]

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