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 more…
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…
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 Read more…
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 more…
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 more…
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 more…
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 Read more…
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 more…
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 more…
‘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 more…