Indian-American Abhijit Banerjee, who was educated at the University of Calcutta, Jawaharlal Nehru University and Harvard University, won the 2019 Nobel Economics Prize. Loans worth Rs 81,781 crore were disbursed during the nine-day outreach programme or loan mela organised by banks that began on October 1, according to the Finance Ministry. The NCLAT has asked ED to release the attached properties of Bhushan Power and Steel and directed the agency not to attach any further assets without its permission.
In another major development, mobile phones in Kashmir buzzed back to life on Monday, connecting 40 lakh post-paid subscribers to their families and friends in the country, the Valley and their neighbourhoods after 72 days but without any internet facilities.
Nobel Prize for Abhijit Banerjee
Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize for creating an experimental approach to alleviating global poverty, the Royal Swedish Academy of Sciences said on Monday. "This year's Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty," the academy said in statement.
HUL Q2 net profit up 21% YoY
Hindustan Unilever (HUL) on Monday posted net profit of Rs 1,848 crore, up 21 per cent year-on-year (YoY) for the second quarter of the financial year 2019-20 (FY20). The company had posted profit of Rs 1,525 crore in the year-ago period. Revenue for the quarter came in at Rs 9,852 crore, up 6.7 per cent YoY while EBITDA came in at Rs 2,443 crore, up 21 per cent YoY. EBITDA margin jumped 290 bps YoY to 24.8 per cent YoY from 21.9 per cent in the corresponding quarter of the previous fiscal.
Over Rs 81,700 cr disbursed by banks during loan mela
The Finance Ministry on Monday said loans worth Rs 81,781 crore were disbursed during the nine-day outreach programme or loan mela organised by banks that began on October 1. Finance Secretary Rajeev Kumar said "Rs 81,781 crore was disbursed in the outreach programme. Of these, new loans accounted for Rs 34,342 crore."
NCLAT halts Bhushan Power sale to JSW Steel
The National Company Law Appellate Tribunal (NCLAT) on Monday asked the Enforcement Directorate (ED) to release the attached properties of Bhushan Power and Steel and directed the agency not to attach any further assets without its permission. The appellate tribunal also put the Rs 19,700-crore payout by the JSW Steel to buy the debt-ridden company on hold till further orders.
Postpaid mobile services restored in Kashmir
Services of all post paid mobile phones were resumed on Monday across the Kashmir Valley after remaining suspended since August 5 when Article 370 was abrogated. There was a general sense of relief among the people around 12 noon when parents, relatives and friends started seeking welfare from each other after remaining cut off for over 70 days.
IRCTC makes grand debut
Shares of Indian Railway Catering and Tourism Corporation (IRCTC), the online ticketing, tourism and the catering arm of railways, made a stellar debut on the bourses by listing at Rs 644, a 101 per cent premium to its issue price of Rs 320 per share on the BSE. Since retail investors received shares at a discount of Rs 10 per share, for them the issue price stands at Rs 310 per share.
WPI inflation eases to 0.33% in Sept
Wholesale prices based inflation eased to 0.33 per cent in September, as against 1.08 per cent in August due to fall in prices of non-food articles, government data showed on Monday. The annual rate of inflation, based on monthly wholesale price index (WPI), was at 5.22 per cent in September 2018.