RBI pushes crisis-hit NBFCs to maintain more high-quality liquid assets
The Reserve Bank of India (RBI) on Friday said from April 1 next year large non-banking financial companies (NBFCs) should maintain a liquidity coverage ratio (LCR) in line with banks and carry enough collateral that can be used for liquidity needs.
Even as the draft offered no hint of a possible liquidity window for the troubled NBFC sector, the central bank said it remained “committed to promote a robust, vibrant and well-functioning NBFC sector”.
From investment cap to pension funds, Sebi moots changes to FPI rules
A Securities and Exchange Board of India (Sebi)-constituted committee has proposed wide-ranging changes to the foreign portfolio investment (FPI) regime, aimed at boosting capital flows into the country by improving ease to doing business, especially for large and well-regulated global institutions.
Hinduja group confirms evaluating options for Jet Airways stake
The Hinduja Group is evaluating options to pick up a stake in crisis-ridden Jet Airways, said Dheeraj G Hinduja, chairman of commercial vehicle maker Ashok Leyland, which is part of the business conglomerate. Hinduja's confirmation comes after reports that the group is in talks with various stakeholders, including Abu Dhabi-based Etihad Airways.
Sensex, Nifty end at record closing high as investors cheer BJP's victory
The benchmark indices ended at record closing highs on Friday, surpassing the previous closing high that was touched on Monday. A sharp slide in global crude oil prices boosted domestic equities and the rupee on Friday. Investor sentiment has been buoyant, following the Narendra Modi-led Bharatiya Janata Party's landslide victory in the general election, said experts.
In a first, Titan goes for in-house movements to boost premium range
More than 30 years after it started business, Titan Company, the country’s largest watchmaker, will shift gear and move up the value chain by making its mechanical movements in-house for the very first time, in a bid to give a booster shot to its premium range of products. The plan, which has been in the works for at least a couple of years, represents a leap in engineering.
DHFL Pramerica Mutual Fund merges two schemes exposed to sponsor
DHFL Pramerica Mutual Fund (MF), which has seen some of its schemes’ exposure to its sponsor Dewan Housing Finance (DHFL) rise sharply due to a fall in asset size, has decided to merge two such schemes with larger schemes. The floating rate fund, which at the end of April was just Rs 13 crore in size, had 31.9 per cent of its assets to DHFL.
Vistara leases six planes, plans to start new domestic routes
Vistara is inducting six planes, including four Boeing 737s, to fuel its expansion plan. These Boeing 737s were earlier flown by Jet Airways and will have two class configurations (12 business and 156 economy seats). Vistara will use the planes on domestic routes and will open three new destinations, it is learnt.
GoAir offers one million seats for fares starting at Rs 899
GoAir Friday put one million seats up for grabs with fares starting at Rs 899 across its domestic network. The bookings under the three-day sale will start from May 27. GoAir under its three-day sale offers one million seats at fares starting Rs 899 for travel from June 15 to December 31, said a report by the Economic Times
Mango exports may take a hit due to lower production
Mango production in the main growing regions of Uttar Pradesh, Maharashtra, Gujarat and South India is likely to to be hit due to uneven weather. Faced with climatic adversities and competition from neighbouring countries, India is set to lose the export market for its famed mangoes, a report by the Hindu BusinessLine reported.
Liquor firms cheer end of poll dry days
Alcohol companies, nursing a hangover from a spate of dry days that marked the six weeks of polling in the middle of summer, are hoping for a respite, now that the elections are finally over, a report by the Livemint said. Sale of alcohol was barred at stores, bars, restaurants and hotels 48 hours before polling ended across towns and cities, according to the directives of the Election Commission.