It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Posts tagged Rediff
Power stocks to stay charged as heat wave sweeps India (05-05-2023)
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India’s electricity demand touched a new high of 216 gigawatts.
RBI updates KYC instructions on wire transfers (04-05-2023)
The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). “All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information…,” as per the updated instructions in the Master Direction.
ED freezes Rs 143-cr assets of Manappuram Finance MD (04-05-2023)
The Enforcement Directorate on Thursday said it has frozen assets worth Rs 143 crore of prominent Kerala-based NBFC Manappuram Finance Ltd’s MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation. A total of six premises in Thrissur, where the company is headquartered, were covered during the searches that were launched on Wednesday. The case pertains to allegations of money laundering through “illegal” collection of deposits from the public, the agency said in a statement.
Electronics manufacturing: Only $225 bn value by FY26 (04-05-2023)
The government’s ambitious vision document that aims at achieving electronics manufacturing with a value of $300 billion by FY26 (including exports of $105-130 billion) could end up far lower than the target, according to a reality check this month. The reality check came from the Indian Cellular and Electronics Association (ICEA), which partnered with the government in preparing the document. The members of the ICEA are mobile and electronics companies, and its assessment, based on current trends, indicates that the total electronics production in FY26 will be around $225 billion.
NCLT reserves order on Go First’s plea for insolvency (04-05-2023)
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First’s plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Markets rebound; Sensex surges 556 points (04-05-2023)
From the Sensex firms, Bajaj Finance, HDFC, HDFC Bank, Bajaj Finserv, Asian Paint, State Bank of India, Tata Consultancy Services, Bharti Airtel, Reliance Industries and Tata Steel were the biggest gainers. HDFC climbed 2.59 per cent after the housing finance major on Thursday reported a 20 per cent growth in standalone net profit to Rs 4,425 crore for the quarter ending March 2023 on the back of higher interest income. IndusInd Bank, Nestle, Power Grid, ITC, Tata Motors and Mahindra and Mahindra were the major laggards.
Govt likely to tweak SEZ rules for better land use (04-05-2023)
With the fate of the Development Enterprise and Services Hub (DESH) Bill in limbo, the commerce department is working towards tweaking some rules under the existing special economic zone (SEZ) law to allow use of unutilised spaces in IT/ITES for non-SEZ purposes. The move, when implemented, will free-up the land area that is not in demand through partial de-notification of certain floors or buildings, thereby allowing easier exit. “The department of commerce is discussing the matter with the revenue department before making changes in the Special Economic Zone Act, 2005,” a person aware of the matter
Go First suspends ticket sale; no flights till May 9 (04-05-2023)
Crisis-hit airline Go First has suspended sale of tickets till May 15 and is working to refund or reschedule existing bookings for future dates, aviation regulator DGCA said on Thursday. The Directorate General of Civil Aviation (DGCA) had issued a show cause notice to the airline after it suddenly decided to cancel flights for three days starting May 3. “Go First has intimated that they have suspended sale of their flights till 15 May 2023 and are working to refund or reschedule for future dates, the passengers already booked to fly with them,” the regulator said in a statement.
Go First suspends ticket sale; no flights till May 9 (04-05-2023)
Crisis-hit airline Go First has suspended sale of tickets till May 15 and is working to refund or reschedule existing bookings for future dates, aviation regulator DGCA said on Thursday. The Directorate General of Civil Aviation (DGCA) had issued a show cause notice to the airline after it suddenly decided to cancel flights for three days starting May 3. “Go First has intimated that they have suspended sale of their flights till 15 May 2023 and are working to refund or reschedule for future dates, the passengers already booked to fly with them,” the regulator said in a statement.