Page 117 - Business Finance

Sabrimala Industries India reports standalone net loss of Rs 2.21 crore in the March 2019 quarter

Sales decline 94.74% to Rs 0.07 crore

Trombo Extractions reports standalone nil net profit/loss in the March 2019 quarter

Sales decline 33.33% to Rs 0.02 crore

R T Exports reports standalone net loss of Rs 0.31 crore in the March 2019 quarter

Sales decline 52.68% to Rs 1.50 crore

Jayshree Chemicals reports standalone net loss of Rs 1.42 crore in the March 2019 quarter

Sales rise 113.08% to Rs 2.28 crore

Alan Scott Industries reports standalone nil net profit/loss in the March 2019 quarter

Sales reported at Rs 0.02 crore

Rishab Special Yarns reports standalone net profit of Rs 0.07 crore in the March 2019 quarter

Reported sales nil

Shree Narmada Aluminium Industries reports standalone net loss of Rs 0.02 crore in the March 2019 quarter

Reported sales nil

PH Trading reports standalone net loss of Rs 0.11 crore in the March 2019 quarter

Sales decline 75.96% to Rs 3.80 crore

Modern Threads (I) standalone net profit declines 53.28% in the March 2019 quarter

Sales rise 19.59% to Rs 60.43 crore

Apt Packaging reports standalone nil net profit/loss in the March 2019 quarter

Sales decline 36.81% to Rs 5.39 crore

Sabrimala Industries India reports consolidated net loss of Rs 2.53 crore in the March 2019 quarter

Sales decline 93.64% to Rs 0.07 crore

Natural Capsules consolidated net profit rises 44.44% in the March 2019 quarter

Sales rise 11.47% to Rs 15.84 crore

Fiberweb (India) reports consolidated net loss of Rs 12.20 crore in the March 2019 quarter

Sales decline 57.92% to Rs 37.25 crore

Parnax Lab reports consolidated net loss of Rs 0.70 crore in the March 2019 quarter

Sales decline 7.02% to Rs 20.14 crore

RBI to issue on tap licence guidelines on small finance banks in Aug

The Reserve Bank of India (RBI) said Thursday it will come out with guidelines for issuance of licences to small finance banks 'on tap' basis in August 2019 for promoting banking facility for small borrowers and encourage competition. The RBI had given in-principle approval to 10 entities for entering the small finance banking space in September 2015. On tap licensing will enable entities to approach the central bank for obtaining licences for small finance banks on meeting laid-down criteria. Eligible entities would not have to wait for licences as it would be available on-demand basis. The RBI in its statement on developmental and regulatory policies said it was notified in the Guidelines for Licensing of "Payments Banks" and "Small Finance Banks" in the private sector on November 27, 2014. After gaining experience in dealing with these banks, the Reserve Bank will consider on tap' licensing of these banks, it said. "In the case of Small Finance Banks, licence was issued to 10 such .

Biz2Credit announces USD 52 million Series B investments from WestBridge Capital

Biz2Credit Inc., the leading online lending platform that helps banks and other financial institutions manage small and medium enterprises (SMEs) lending processes and makes it easier and faster for SMEs to access working capital, announced that it has completed a Series B capital financing round of USD 52 million led by WestBridge Capital. This is the second round of equity financing for Biz2Credit; the company was initially funded by Nexus Venture Partners.The funds will be deployed to drive further growth in Biz2Credit's marketplace lending business and support the continued expansion of Biz2X, the company's state-of-the-art digital lending platform, through SaaS partnerships with global financial institutions. With live deployments of the Biz2X Platform in four major markets worldwide, the funding will help accelerate the adoption of Biz2X globally.Biz2X's cutting-edge software enables banks and other financial institutions to streamline SME and commercial lending while providing .

Rate cut hat-trick: RBI turns accommodative to boost growth (4th Lead)

Home and auto loans are set to become cheaper as the Reserve Bank of India (RBI) went for a hat-trick of rate cut on Thursday as it lowered its key lending rate for commercial banks by 25 basis points (bps) to 5.75 per cent.

UK insurer Aviva says to cut 1,800 jobs

British insurer Aviva on Thursday said it plans to cut about 1,800 jobs over the next three years as new chief executive Maurice Tulloch looks to slash costs. Aviva said in a statement that it planned "approximately 1,800 role reductions across the group over the next three years, out of a total workforce of around 30,000". Aviva is seeking to cut costs by 300 million pounds (USD 380 million, 339 million euros) per year by 2022. "Cost savings will be achieved through lower central costs, savings in contractor and consultant spend, reduction in project expenditure and other efficiencies," it added. Coinciding with Tulloch's start as chief executive, Aviva had in March warned that the company's outlook would be weakened by economic uncertainty surrounding Brexit. In Thursday's statement, Tulloch said the jobs reduction announcement was a first step "to make Aviva simpler, more competitive and more commercial". He added: "Reducing Aviva's costs is essential to remain competitive and this

Govt considering rolling out 2nd phase of fertiliser DBT

The government is seriously thinking of giving fertiliser subsidy directly to farmers under the second phase of implementation of direct benefit transfer (DBT) scheme, a senior fertiliser ministry official said Thursday. In October 2017, the first phase of fertiliser DBT was rolled out, under which subsidy is being transferred to companies after checking retail sales data captured through the Point of Sale (PoS) machines. The transfer of fertiliser subsidy directly into farmers' bank accounts was to be taken up in the second phase after taking inputs from Niti Aayog. The government bears over Rs 70,000 crore annually as fertiliser subsidy to provide cheaper farm nutrient to farmers. "We want to try giving fertiliser subsidy directly into farmers' bank accounts. Now, there is a thinking in this line. Now, we are ready for the phase two implementation. When and how -- that is under discussion," the official told PTI. Besides, the government is planning to bring some improvement in the ..

Nickel futures up 0.06% on spot demand

Nickel futures traded 0.06 per cent higher at Rs 853.70 per kg on Thursday as speculators created fresh positions on spot demand. On the Multi Commodity Exchange, nickel for delivery in June contracts rose 50 paise, or 0.06 per cent, to Rs 853.70 per kg in business turnover of 6,766 lots. Market analysts attributed the rise in nickel futures to widening of positions built up by participants following rising demand from alloy-makers.