BUSINESS
Personal loans portfolio doubled in value in past 5 fiscals
Titled 'How India Lends, FY 2021', the report said: "The overall personal loans portfolio witnessed 2.3x growth in originations by value and 3.8x by volume from FY17 to FY21, while the same for Small Ticket Personal Loans is 3x growth in originations by value and 11.5x by volume" Further, credit cards witnessed 2.4x growth in new card originations from FY17 to FY20 followed by a drop in FY21.
SBI raises Rs 4K cr via AT1 bonds
This is the first AT1 Bond issuance in the domestic market post the new SEBI regulations. The regulations have come after regulator created a storm putting restrictions on MF investment in such bonds which are most popular among banks to raise funds. "This also very clearly demonstrates the maturity of the Indian investors in their selection of Issuers for such instruments" the SBI said.
SpiceJet denies ex-staff's financial stress charge, lists his 'indiscipline' during service
"We refer to the email communication being circulated by one Captain Vinod Loganathan alleging flight safety hazard at SpiceJet and giving an unfounded colour of being an unsafe airline due to financial stress caused to certain unnamed employees. The allegations are completely false, baseless and we deny them all strongly," the company said in a statement.
Path to recovery: GST collection for Aug at over Rs 1.12 lakh cr
The GST revenues during August 2021 were a tad lower than the over Rs 1.16 lakh crore collections recorded in the previous month, it had maintained pace after the fall witnessed in June when collections fell to Rs 92,849 crore. So far this year, collections touched record high of Rs 1.41 lakh crore collection in April and Rs 1.04 lakh crore in May.
Non-subsidized LPG cylinder gets costlier by Rs 25
In Delhi, the 14.2-kilogram non-subsidized cylinder will now cost Rs 884.50. Price in Kolkata is the highest among the four metro cities at Rs 911 per cylinder, while that in Chennai and Mumbai stood at Rs 900.5 and Rs 884.50 per cylinder.
Pandemic affect: Wage bill of small Cos falls up to 5% on salary, job cuts in Q1
A large number of companies with a turnover of up to Rs 500 crore have reduced their employee expenses between 1-5 per cent in the April- June quarter of the current financial year. The expenses have fallen on account wage and job cuts as companies, particularly smaller ones, continue to face shrinking businesses with Q1 revenue falling up to 14 per cent.
Peak secures $75 mn in SoftBank-led Series C funding
Peak's total funding has been raised to date to $119 million, said a company statement. Peak's software platform enables companies to embed AI into the core of their decision-making and operations.
Maruti Suzuki India's August sales rise to 1.31L units
Accordingly, total sales in the month include domestic sales of 1,05,775 units, off-take to other original equipment manufacturer (OEM) of 4,305 units and exports of 20,619 units. "Sales volume of the company in August 2021 was affected due to electronic components' shortage. The company took all possible measures to limit the adverse impact," the company said in a statement.
GST revenue collection for Aug at over Rs 1.12 lakh cr
Though the GST revenues during August 2021 are a tad lower than the over Rs 1.16 lakh crore collections recorded in the previous month, it had maintained pace after the fall witnessed in June when collections fell to Rs 92,849 crore after a record high of Rs 1.41 lakh crore collection made in April and another over Rs 1 lakh collection in May.
India on course for 9% GDP growth in FY22, 3rd wave still a concern
The data released by the Union Ministry of Statistics on Tuesday showed that the country's GDP has recovered swiftly to clock a growth of 20.1 percent in the April-June quarter of FY22 as against a contraction of 24.4 percent seen in the same period of the previous year.
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