‘RBI to review data storage rules for payment cos’

This post was originally published on this siteThe Reserve Bank of India (RBI) will look into concerns about data storage rules that have been raised by companies, a government statement said on Tuesday, months after entities such as Mastercard and Visa were forced to store more of their data locally in the country. Please follow … Read more‘RBI to review data storage rules for payment cos’

Cognizant promotes 70 assistant vice presidents amid exits galore

This post was originally published on this siteThe 70 promotions are a part of the annual appraisal cycle that comes with increments. When TOI contacted Cognizant, the company said, “Yes, as part of our annual promotion processes, 70 of our AVPs across business units and geographies have been promoted as VPs. Please follow and like … Read moreCognizant promotes 70 assistant vice presidents amid exits galore

Chinese banks demand $2.1 billion from tycoon Anil Ambani’s RCom

This post was originally published on this siteState-owned China Development Bank, with loans worth Rs 9,860 crore ($1.4 billion) was the biggest creditor to the indebted telecom company. Exim Bank of China sought payment of Rs 3,360 crore, while Industrial and Commercial Bank of China claimed Rs 1,554 crore. The bankruptcy court is hearing lenders … Read moreChinese banks demand $2.1 billion from tycoon Anil Ambani’s RCom

Financial stability key for monetary policy: Das

This post was originally published on this siteFinancial stability has emerged as a key consideration for monetary policy formulation in the post-2008 financial crisis world beyond the imperatives of inflation and growth, Reserve Bank Governor Shaktikanta Das said Monday. A healthy financial sector is a pre-requisite to improve growth prospects, he said. Please follow and … Read moreFinancial stability key for monetary policy: Das

IndiGo places engine order worth $20bn

This post was originally published on this siteIndiGo, the world’s largest customer for the Airbus 320/21 new engine option (Neo) aircraft, has opted for CFM engines over the snag-prone Pratt & Whitney (PW) engines for this plane. The low cost carrier has placed an order worth $20 billion for CFM’s LEAP-1A engines for 280 A320 … Read moreIndiGo places engine order worth $20bn

Banks give up on Jet’s revival, send it to NCLT

This post was originally published on this siteState Bank of India-led consortium of lenders on Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders. The airline, which … Read moreBanks give up on Jet’s revival, send it to NCLT

Investors poorer by over Rs 2L cr as markets fall

This post was originally published on this siteInvestor wealth eroded by over Rs 2 lakh crore on Monday after the BSE benchmark index tanked over 491 points following weak sentiments in the broader market. Led by the selling in equity market, the market capitalisation of BSE-listed companies dropped by Rs 2,00,258.81 crore to Rs 1,50,09,329.19 … Read moreInvestors poorer by over Rs 2L cr as markets fall

RCap sells 10.75% stake in RNAM for Rs 1,450 cr

This post was originally published on this siteReliance Capital on Monday said it has sold 10.75 per cent in Reliance Nippon Life Asset Management Ltd (RNAM) for over Rs 1,450 crore. In two successive offers, Reliance Capital has sold 10.75 per cent of its shareholding in RNAM, aggregating over Rs 1,450 crore and has achieved … Read moreRCap sells 10.75% stake in RNAM for Rs 1,450 cr

DCC clears imposing penalty on Airtel, Voda Idea; seeks Trai view on fine amount

This post was originally published on this siteDigital Communications Commission, the apex decision-making body of the telecom department, on Monday approved imposing penalty on Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Jio. However, before imposing the penalty, the Commission has decided to seek Trai’s views on revising Rs 3,050 … Read moreDCC clears imposing penalty on Airtel, Voda Idea; seeks Trai view on fine amount

Amazon India most attractive employer brand: Survey

This post was originally published on this siteE-commerce giant Amazon India is the most attractive employer brand in the country followed by Microsoft India and Sony India, says a survey. According to the Randstad Employer Brand Research (REBR) 2019, released on Monday, Amazon scored high on financial health, utilisation of latest technologies and a strong … Read moreAmazon India most attractive employer brand: Survey

Yash Birla named ‘wilful defaulter’ by UCO Bank

This post was originally published on this siteNotifying Yashovardhan Birla as a wilful defaulter, Kolkata-based lender UCO Bank said the company had a credit limit of Rs 100 crore, of which Rs 67 crore plus interest was due. The loan was classified as a non-performing asset in 2013. Although the group has more than a … Read moreYash Birla named ‘wilful defaulter’ by UCO Bank

Sensex drops over 150 points; Nifty below 11,800

This post was originally published on this siteDomestic equity benchmark BSE sensex fell over 150 points and the NSE Nifty slipped below the 11,800 mark in early trade on Monday tracking dragged down by losses in index heavyweight RIL, ITC and HDFC stocks. The 30-share index was trading 175.29 points, or 0.44 per cent, lower … Read moreSensex drops over 150 points; Nifty below 11,800

Builder pulled up for not passing GST gain to buyers

This post was originally published on this siteNearly two years after the launch of GST, several builders have not passed on the benefit of credits earned for taxes paid on inputs such as steel, cement and paint, arguing that the amount will be settled at the time of delivery. Now, the National Anti-Profiteering Authority has … Read moreBuilder pulled up for not passing GST gain to buyers

Govt plans fresh tax sops for startups in budget

This post was originally published on this siteThe department for promotion of industry and internal trade (DPIIT) and the revenue department have discussed a package of tax sops in the forthcoming budget, including simplified norms for levying a tax on employee stock option schemes (ESOPs) at the time of sale of shares, sources told TOI. … Read moreGovt plans fresh tax sops for startups in budget