Yes Bank reports Rs 18,564-cr loss for Dec quarter
Mumbai, Mar 14 : Yes Bank reported on Saturday a staggering Rs 18,654-crore loss for the December quarter due to higher recognition of dud assets on the books, and an erosion of capital buffers to the brink. The gross non-performing assets shot-up to Rs 40,709 crore or 18.87 per cent of assets as of December […]
India’s audit space cannot have ‘one-size fits all’ approach: Corp Affairs Secy
New Delhi, Mar 15 : Asserting that “one-size fits all” approach cannot be put in place for the complex audit industry, Corporate Affairs Secretary Injeti Srinivas has said the potential of conflict of interest needs to be addressed and made it clear that whoever is practising audit in India will have to be regulated under […]
Petrol price cut by 12 paise/litre, diesel by 14 paise
New Delhi, Mar 15 : Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government. Petrol in Delhi now costs Rs 69.75 per litre, […]
Excise duty on petrol, diesel hiked by Rs 3/lt; no change in prices; govt to get Rs 39,000 cr
New Delhi, Mar 14 : The government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue as it repeated its 2014-15 act of not passing on gains arising from slump in international oil prices. Retail prices of petrol and […]
Cong slams govt over hike in excise duty on petroleum, diesel
New Delhi, Mar 14: The Congress on Saturday hit out at the government over the hike in excise duty on petrol and diesel and demanded that the benefit of reduced international crude oil prices should be passed on to the people. Congress’ senior spokesperson Ajay Maken said the government should reduce the rates of petrol, […]
Govt notifies Yes Bank reconstruction scheme; moratorium to be lifted by March 18
New Delhi, Mar 14 : The moratorium on Yes Bank will be lifted by March 18 and the new board led by CEO and MD Prashant Kumar will be put in place by the end of this month, the government said. The government notified the Yes Bank Reconstruction Scheme 2020 late on Friday. Under the […]
Govt hikes DA for govt employees, pensioners by 4 pc from Jan 1
New Delhi: The Union Cabinet on Friday approved 4 per cent increase in dearness allowances (DA) for government employees and pensioners to 21 per cent, which will benefit over 1.13 crore people. The move will come into effect retrospectively from January 1, 2020. The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved to […]
Govt, RBI closely monitoring markets: FM
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the government as well as the RBI are “closely monitoring” the domestic and global stock markets, which are facing intense volatility amid mounting coronavirus fears. Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by […]
CBI books Yes Bank founder, wife & others in fresh case
New Delhi: The CBI has booked Yes Bank founder Rana Kapoor, his wife Bindu and Avantha Realty promoter Gautam Thapar in a fresh case, officials said on Friday. The case relates to the Amrita Shergill bungalow deal and alleged bribe for relaxation in realisation of loans worth over Rs 2,000 crore to Thapar’s companies, according […]
Impact of coronavirus on Indian tourism could run into thousands of crores
New Delhi, Mar 12: The coronavirus pandemic could deal a crippling blow to the Indian travel and tourism industry, specially with the government suspending all visas, with the economic impact being assessed to run into thousands of crores of rupees. According to industry chamber CII, this is the one of the worst crises ever to […]
