• Mon, Jan 22, 2018
  • ‘Develop a US-style online platform to sell bad loans’

    Updated: Jan, 22, 201812:17 AM

    The Reserve Bank has called for putting in place an online trading platform on the lines of the system in the US, to sell distressed assets to ensure more transparency and better price-discovery.
    ‘Develop a US-style online platform to sell bad loans’
    Deputy governor Viral Acharya has opined that such an online trading platform can help create a thriving market for selling bad loans, which is plaguing the domestic banking system, and asked all the stakeholders to come together to develop such a mechanism. The banking system is saddled with over Rs 10 trillion of bad loans, which is over 10.2 per cent system wide, as of the September 2017 quarter. Following a massive spike in stressed assets, the RBI has since last June identified as many as 40 largest stressed accounts and have asked banks to send them to various debt recovery tribunals. These 40 accounts, which include Essar Steel, Bhushan Steel, Bhushan Power, Amtek Auto, Videocon Industries and JP Infra among others, constitute as much as 40 per cent of this Rs 10 trillion dud loans. In the financial stability report released...
  • Los Angeles saw 1.2 lakh Indian visitors in 2017 Los Angeles saw 1.2 lakh Indian visitors in 2017
    Updated: Jan, 22, 201812:15 AM

    Los Angeles welcomed 48.31 million visitors in 2017, of which 1,21,000 travellers were from India, says a report.

  • Healthcare firm aims for Rs 50 crore business by 2020 Healthcare firm aims for Rs 50 crore business by 2020
    Updated: Jan, 22, 201812:10 AM

    vTitan Corporation, a medical device manufacturing company recently launched its patented Syringe Infusion Pumps for administering medication to patients under critical care. The Accuflow SP-550 and...

  • Telecom sector seeks duty relaxation on network devices Telecom sector seeks duty relaxation on network devices
    Updated: Jan, 21, 201811:45 PM

    Towards improving the financial health of the industry, Cellular Operators Association of India (COAI), as the apex body that represents the telecom sector, will make a number of recommendations to...

  • BigBasket to invest Rs 500 crore on supply chain BigBasket to invest Rs 500 crore on supply chain
    Updated: Jan, 21, 201811:20 PM

    Online grocery store BigBasket expects to spend up to Rs 500 crore to strengthen its technology and back-end farmer supply chain as it looks to more than double its customer base to 20 million by...

  • Nearly 4 per cent of GDP is lost by malnutrition, 50 per cent kids under-nourished: Report Nearly 4 per cent of GDP is lost by malnutrition, 50 per cent kids under-nourished: Report
    Updated: Jan, 21, 201809:07 PM

    India loses about 4 per cent of GDP (gross domestic product) to malnutrition and the trend can be reversed by focusing on production diversity as well as food fortification at a macro level , a...

  • ONGC hikes maiden debt-raising by 40 percent to fund HPCL buy ONGC hikes maiden debt-raising by 40 percent to fund HPCL buy
    Updated: Jan, 21, 201806:41 PM

    State-owned Oil and Natural Gas Corp (ONGC) has increased its first ever debt-raising plans by 40 per cent to as much as Rs 35,000 crore to fund its Rs 36,915-crore acquisition of Hindustan Petroleum...

  • Maruti plans to launch four products in next 12-18 months Maruti plans to launch four products in next 12-18 months
    Updated: Jan, 21, 201801:48 PM

    The company is confident that new products like the upcoming Swift will help in adding more volumes.

  • ONGC buys government's 51.11 pc stake in HPCL ONGC buys government's 51.11 pc stake in HPCL
    Updated: Jan, 20, 201807:22 PM

    State-owned Oil and Natural Gas Corp (ONGC) today announced acquisition of government's entire 51.11 per cent stake in oil refiner HPCL for Rs 36,915 crore, paying a premium of over 10 per cent.

  • Gold breaks 2-day slide, recovers Rs 20 on jewellers' buying Gold breaks 2-day slide, recovers Rs 20 on jewellers' buying
    Updated: Jan, 20, 201802:40 PM

    Traders said besides a firm trend overseas, pick-up in buying by local jewellers to meet wedding season demand at the domestic spot market, mainly led to the rise in gold prices.