BUSINESS
No violation of SEBI Takeover Regulations: RIL promoter group
The RIL promoter group has also said that an appeal will be referred to the Securities Appellate Tribunal and it remains confident of vindicating its position, as per an RIL filing.As per a regulatory filing, RIL had issued debentures with convertible warrants in the year 1994 and allotted equity shares against the warrants in the year 2000.
Rising Covid cases to subdue securitisation market: ICRA
"On a positive front, the lockdowns announced by a few state governments at present are less restrictive in comparison to the nationwide lockdown seen last year. Nevertheless, an unabated increase in the Covid cases is likely to bring about fears of harsher lockdowns which could impact the asset quality of retail loans especially for unsecured loans such as in the microfinance sector."
Driven exports worth $3B, created 1M jobs in India: Amazon
Since January 2020 alone, nearly 2.5 lakh new sellers have joined Amazon.in, and the number of direct and indirect jobs the company helped create reached nearly 3 lakh during this period which saw widspread disruptions due to Covid-19.The company said that there is a strong demand from global customers for a range of "Made in India" products including toys, jewellery, bed linen, healthcare products, tea, leather products and others.
More Indian SMBs shut up shop amid ongoing pandemic: Facebook
The SMBs in India and Pakistan reported higher rates of closure, with 32 per cent (rising from 24 per cent in October and dropping from 46 per cent in May) and 28 per cent (rising from 23 per cent in October and dropping from 38 per cent in May) reporting they were closed at the time of the survey, respectively.
Bharti AXA Life Insurance, Fincare Small Finance Bank join hands
Under this arrangement, Bharti AXA Life Insurance will offer its comprehensive suite of life insurance products, including protection, savings and investment plans, to the customers of Fincare Small Finance Bank across its 747 branches and digital network presence across the country.
CBI files 3 chargesheets in UBI frauds of Rs 150 cr
The accused include senior officials of Union Bank of India (UBI), private companies and their top directors, financial consultants and others.Following a complaint from UBI, the CBI had lodged three separate cases in June 2019 and later in March 2020 involving the individuals and companies in collusion with bank officers who allegedly perpetrated the huge fraud.
YoY vehicle registrations plunged by over 28% in March: FADA
However, the data released by the Federation of Automobile Dealers Associations (FADA) showed a sequential growth of 10.5 per cent in March. Accordingly, vehicle registration stood at over 16.49 lakh in March 2021, compared to over 23.11 lakh units reported for the corresponding period of last year and around 14.99 lakh in February 2021.
'Covid resurgence likely to delay airport passenger recovery'
Before the recent resurgence, India had contained the spread of the virus and infection numbers had fallen after the previous peak in mid-September 2020. The steady decline over that time had allowed for a gradual increase in total airline seat capacity and for domestic passenger traffic to recover to around 60 per cent of the 2019 level by the end of February 2021, the agency said.
Excess liquidity in US pushing PE/VC investment in India
Though, private equity and venture capital (PE and VC) investments in 2021 have gotten off to a slow start, with January-February 2021 investments being 11 per cent lesser than January-February 2020 and almost 66 per cent lesser than the previous two-month period Nov-Dec 2020, it is expected to pick up in a bigger way in coming months with most of the uncertainties that plagued markets in 2020 on the decline.
SBI, NPCI launch UPI awareness campaign for YONO users
The joint initiative aims at encouraging users of SBI's banking and lifestyle platform YONO to opt for UPI payments which is easy, safe and instantaneous.Since its inception in 2017, YONO has observed 34 lakh UPI registrations with over 62.5 lakh transactions worth more than Rs. 2,520 crore at current daily average of nearly 27,000 transactions (in last 30 days).
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