Engines and power equipment supplier Cummins India is expecting full revival of business in 2022, according to its managing director Ashwath Ram. With FY20 revenue of ₹16,000 crore from seven entities employing 11,000 people across 20 manufacturing sites, the company has been hit hard by the pandemic. Excerpts: How has …
Read moreWe need a scrappage policy, says Cummins India MD Ashwath Ram
The Consortium of Indian Associations termed as a ‘big blow’ to micro, small and medium-sized enterprises (MSMEs) the RBI’s affidavit in the Supreme Court pleading for vacating its stay order on the classification of NPA and the Centre ruling out further relief measures under the loan moratorium scheme. Consortium convener …
Read more‘Centre’s, RBI’s stand in SC on loans is a big blow to MSMEs’
Several airlines have delayed payments, amounting to ₹2,400 crore, to the Airports Authority of India (AAI) for using airports because of losses sustained following the drop in travel demand during COVID-19. The biggest defaulter among all airlines is the Air India (AI) Group which owes more than 80% of these …
Tata Communications is betting on three opportunities that a cautious approach by clients to the pandemic has thrown up, to drive growth. “Our network and security experience will help enable work-from-anywhere for an enterprise employee; our digital expertise will enable e-commerce and video collaboration for superior digital engagement for B2C …
Read moreTata Communications bets on three-pronged approach for growth in post-Covid world
Virgin Hyperloop has set up a global Hyperloop Certification Centre (HCC) in West Virginia in the U.S., and the company said it was a major step towards accelerating its safe-mobility projects around the globe, including those in Karnataka, Maharashtra and Punjab. “The significance of this milestone cannot be overstated. This …
Read moreVirgin Hyperloop sets up global hyperloop certification centre
The government should identify the job creating sectors and address their issues on priority, AIMA said in a release quoting the CEO Mortgage lender HDFC Ltd’s CEO Keki Mistry on Saturday said the “worst is behind us” and the economic recovery has been faster than expected. Stating that the December …
Read moreWorst is over, economic recovery faster than expected: Keki Mistry
Cash-starved private sector lender Lakshmi Vilas Bank Ltd. (LVB) has received a non-binding offer from Clix Group for merger. In June 2020, LVB had entered into a non-binding agreement with the Clix Group for amalgamation. On Thursday, LVB said that it had received an indicative non-binding offer from Clix Group …
Complete waiver of compound interest will destabilise broader financial stability, says central bank The Reserve Bank of India (RBI) has told the Supreme Court that the Centre’s resolve to shoulder the cost of ‘interest on interest’ for MSME loans and personal loans up to ₹2 crore addresses pandemic-induced financial distress …
Read moreRelief on loans up to ₹2 crore addresses borrowers’ distress, RBI tells Supreme Court
Customers are seeking more automation given the success of efforts over the past few years, even as the pandemic-led pause spurred them to cut wasteful expenditure, said N. Ganapathy Subramaniam, COO and ED, Tata Consultancy Services. In an interview, he said the pandemic had not impacted TCS’s campus hiring plans. …
Read moreNumber of campus offers this year will mirror last year’s: TCS
‘Market participants need to take a broader time perspective, bid with sensitivity to signals from RBI’ With large borrowings to be facilitated for the Centre and the States in the second half of 2020-21, RBI Governor Shaktikanta Das on Friday sought market participants’ cooperation and termed ‘the orderly evolution’ of …
Read moreRBI Governor Shaktikanta Das tries tough love with bond market