BUSINESS
Final stage of Budget 2021-22 commences with Halwa ceremony
A customary Halwa ceremony is performed every year before the "lock-in" process of the Budget preparations gets underway. This normally happens around middle of January when the exercise to finalise and print budget details starts in the basement of North Block. This year, as the budget is going paperless, the ceremony got delayed since the need for lock-in is not required.
Fiscal support for growth in 2020 decade likely to be lower, says report
The likely lower support will be caused due to Centre's efforts for fiscal consolidation. Notably, the report pointed out that government has shown 'remarkable' resistance to any major stimulus, which provides further confidence that Centre's finances could improve consistently over the next decade.
Fuel dearer again: Petrol prices up by 22-25 p/l, diesel by 24-26
With this, petrol is now priced at Rs 85.70/litre in Delhi as against Rs 85.45 a litre previously. Similarly, in Mumbai petrol prices increased to Rs 92.28 a litre, a 24 paisa increase from Friday's price of Rs 92.04 a litre. In Chennai and Kolkata, petrol is now priced at Rs 88.29 and 87.11 a litre respectively, an increase of 22 and 24 paisa per litre from the previous day's.
Gujarat govt inks pact with Adani for largest logistics park
The proposed 1,450 acre park will have a dedicated air cargo complex with 4.6 km long runway to handle even large sized cargo aircraft and will offer direct air, rail and road connectivity. It will also have a provision of direct rail connectivity with dedicated freight corridor which is part of the Delhi-Mumbai Industrial Corridor (DMIC).
DHFL CoC declares Piramal as successful bidder
The implementation of the resolution plan is subject to the terms of the LOI and requisite approvals from the Reserve Bank of India, the National Company Law Tribunal's Mumbai Bench and other approvals by regulatory bodies, and courts of tribunals.
Reliance Jio's October-December net profit grows to Rs 3,489 crore on quarter-on-quarter basis
During the July-September quarter, the company's net profit stood at Rs 3,020 crore. The telecom major's operating revenue during the period under review stood at 19,475 crore, higher by 5.3 per cent on QoQ basis, the company said in a statement.
RBI proposes multilayer system, stricter norms for non-banking finance companies
The RBI, in a discussion paper, proposed to differentiate between NBFCs depending upon the layer they belong to, such as base and middle. As per the discussion paper, NBFCs in the lower layer will be known as 'NBFC-Base Layer' (NBFC-BL), and for the middle layer as 'NBFC-Middle Layer' (NBFC-ML).
Yes Bank logs net profit of Rs 151 crore in October-December quarter
The net interest income of the restructured bank increased by 29.7 per cent on quarter-on-quarter basis to Rs 2,560 crore. Besides, the bank reported a total step up in provisioning of Rs 2,935 crore, consisting of additional Rs 765 crore towards Covid-19 related provisioning and the balance majorly towards increasing 'PCR' of both 'NPA and NPI'.
GoAir commences 'Freedom Sale', offers 1 million seats for booking
As part of its "Freedom Sale", the airline has made available "one million seats" to book on its domestic network. "Starting at an all-inclusive lowest fare of INR 859, the eight-day freedom sale is effective from January 22 to January 29, 2021, and will be valid on one-way fares for travel from April 1 until December 31, 2021 on airline's domestic network," the airline said in a statement.
Several companies took part in virtual roadshow of Rail Land Development Authority
According to RLDA, the week-long event witnessed the participation of representatives from renowned companies such as Macquarie Group, Ontario Teachers' Pension Plan, Brookfield, I Squared Capital, Mahindra Group, Mecef International, Infrastructure Asia, among 30-35 others.
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