Latest Stock Market News

"Our digital capabilities have helped us serve our customers seamlessly even during the pandemic in all our markets, including India. Our suite of digital offerings helped MSMEs (Micro, Small and Medium-sized Enterprises) in India meet working capital needs and operational liabilities," underlined the tech-savvy banking veteran. DBS also helped MSMEs in India to navigate the challenging business environment by disbursing loans to the segment during the lockdown months.

The revamp will include an option of filing complaints in regional languages. This can be attributed to making the process of complaint redressal more efficient. The Integrated Grievance Redressal System (IGMS), launched in 2011, is being upgraded to make it more convenient for customers. It is to be renamed as Bima Bharosa.

The development comes at the time when the resolution is at an advanced stage, and financial bids are expected to be submitted latest by August 10 for taking over debt-ridden Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL).

The takeover of the Gujarat plant will offer much-needed capacity for Tata Motors, which has set its sights on crossing half a million annual sales this financial year, up from 370,400 in FY22. The company is currently operating at 85-90% capacity and to sustain this momentum it will need fresh capacity.

The provision coverage ratio of the PSBs, a measure of health that captures amounts set aside to cover bad loans, has improved to 86.9% at the end of March 2022 from 46% at the end of March 2015. The state-run banks have recovered ₹5.17 lakh crore in non-performing assets (NPAs) and ₹1.24 lakh crore in written-off accounts since FY15.

A capital reduction is done when companies want to decrease their shareholding. This could be done through either a share cancellation or a share buyback. In the ruling, NCLAT said that the capital reduction was approved by all the shareholders with the objective of reducing the overall weighted average cost of capital and improving the earnings per share, and there were no objections from any of the creditors of the appellant.

Meanwhile, Zanmai Labs, which operates WazirX in India, is exploring the legal route amid an ownership dispute with the world’s largest exchange by volume, according to sources.

He said online education, despite all its advantages, is not the solution to all problems and as the world goes back to normalcy, the industry has started going back to a hybrid mode of learning - the schools have albeit started going back to classrooms.

On July 6, the Reserve Bank of India (RBI) permitted banks to garner FCNR (B) and NRE deposits from the Indian diaspora without any interest rate cap. Such relaxations are available until October 31 and November 4, respectively. The central bank also relaxed rules for external commercial borrowings, seeking to arrest the outflow of funds and ease pressure on the rupee.

"We have forecast double-digit growth this festive season over the festive months of 2019," said Vishal Chaturvedi, vice-president (South Asia), The Body Shop. "This includes gifting across various upcoming festivals, Diwali and the wedding season. People are also coming back to physical stores after the last two years of stress, which were bad for us as well."