Corporate News - Page 17

SBI refers SpaceX chief Elon Musk's newborn child's name for giving tips to customers

What prompted SBI to suggest its customers to maintain a safe password was the unique name of the new born newborn son of SpaceX chief Elon Musk.

Rupee settles 19 paise lower at 75.73 on strong dollar, rising coronavirus cases; positive domestic equities back local unit

The rupee opened at 75.55, then lost further ground and finally settled at 75.73 against the greenback, down 19 paise over its previous close.

Agriculture Minister Narendra Singh Tomar says 117 more mandis join eNAM platform; total number reaches 962 across India

Integration of APMC mandis with eNAM will strengthen and facilitate farmers to sell their harvested produce through the online portal, he said.

Expect a financial package from govt in 2-3 days, situation 'very bad', says Nitin Gadkari to industry

Nitin Gadkari said the government stands with the industry but it also needs to understand the government''s limitations.

Saudi Arabia triples taxes on basic goods, cuts $26 bn in costs; coronavirus pandemic, low oil prices hit economy

Saudi Arabia's new measures are the most drastic yet by a major Gulf Arab oil producer since oil prices plunged by more than half in March, signalling that neighbouring countries may also seek to impose higher taxes on residents this year.

Coronavirus Lockdown: Maruti Suzuki India to resume operations at Manesar plant from 12 May

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it would resume operations at its Manesar plant from 12 May

Royal Enfield resumes operations at Oragadam unit in Tamil Nadu with minimal staff; two more facilities to restart works soon

Royal Enfield said those employees and shop-floor staff residing near the facilities would be ''aligned'' to work in the respective units to avoid long-distance travel and minimise contact during transportation.

Coroanvirus Lockdown: EPFO allows employers to register digital signatures through e-mail

Retirement fund body EPFO on Wednesday allowed employers to register their digital signatures online through e-mail, in view of the lockdown to combat COVID-19, according to a labour ministry statement

Lockdown 3.0: Some auto companies resume production, others prepare to restart manufacturing

Automobile majors, including Maruti Suzuki India, Mercedes-Benz, TVS Motor, and Royal Enfield, on Wednesday announced the resumption of or plans to restart production at their respective manufacturing units following the relaxation of guidelines by the government for the third phase of lockdown

Coronavirus Outbreak: BMC allows reopening of single electronics, hardware shops

The Brihanmumbai Municipal Corporation (BMC) has amended its previous order and allowed reopening of standalone electronics and hardware shops in the city during the lockdown, saying there is an urgent need to keep such shops open to some extent

Govt to roll out COVID-19 app for JioPhone in bid to increase reach of system; testing underway, says official

Within a week, a version of the app will be rolled out to more than 100 million users of the $9 JioPhone.

SBI to extend moratorium to NBFCs to tide over coronavirus pandemic crisis, says MD Dinesh Kumar Khara

The country's largest lender SBI has decided to extend the RBI-approved moratorium to the cash-strapped NBFC sector to help them tide over the crisis, its MD Dinesh Kumar Khara said on Thursday

Micro enterprises best placed to help economy come out of COVID-19 crisis; eligible to get financial aid from credit institutions: Report

The state-run lenders gained market share in 2019, adding that public sector banks now account for 49% of the MSME lending and over 59% of the lending to the micro enterprises.

Tata Consumer Products ties up with Domino's Pizza, Zomato to deliver essential goods

Tata Consumer Products (TCPL) on Thursday said it has partnered with food delivery platforms like Domino's Pizza and Zomato to strengthen its direct distribution model and ensure steady supply of its essential products

State Bank of India hikes home loan rates by up to 30 basis points; other lenders may follow suit

State Bank of India (SBI) has raised its home loan rates that are linked to repo rate by up to 30 basis points, a move which may be followed by other lenders

Coronavirus Lockdown: JK Tyre resumes partial operations at manufacturing plants across country

JK Tyre and Industries on Friday said it has resumed partial operations at various manufacturing facilities across the country

Coronavirus Outbreak: Facebook extends work from home policy; employees to work remotely until year-end

Facebook Inc said on Friday it would allow its workers who are able to work remotely to do so until the end of the year as the coronavirus pandemic forces governments to extend stay-at-home orders to curb the spread of the disease, Reuters reported

Coronavirus Lockdown: PSBs have sanctioned loans worth Rs 42,000 cr to MSMEs, corporates so far

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown

Hyundai rolls out 200 vehicles from Chennai plant on first day of resuming operations

The auto major has commenced production at the facility adhering to 100 percent compliance of safety and social distancing norms, Hyundai Motor India said

Reliance Jio's new pre-paid plans: Offers work-from-home top-ups, annual plans with cheaper, additional data

Reliance Jio has brought three new "work-from-home" top-up plans that are available at the denominations of Rs 151 (30 GB), Rs 201 (40 GB) and Rs 251 (50 GB), which supplement usage once the daily limit is exhausted, as per the company's website.

Coronavirus Outbreak: Pandemic to hit investments up to 30% in construction-related projects, says KPMG

Construction-related GVA and employment are expected to reduce between 15 to 34% and 11 to 25% respectively when compared to pre-crisis projections for FY21, it said on Friday.

US unemployment rate spikes to 14.7% in April, highest since Great Depression; 20.5 million jobs vanish

The government's report Friday noted that many people who lost jobs in April but didn't look for another one weren't even counted in the unemployment rate.

Coronavirus Lockdown: Industry body CII bats for immediate stimulus package of Rs 15 lakh cr

Industry body CII on Friday suggested that the government should immediately announce a stimulus package of Rs 15 lakh crore, or 7.5 percent of the GDP, observing that the COVID-19 pandemic has led to "deep distress" in the Indian economy

Food minister Ram Vilas Paswan says 20 states getting ready for launch of ration card portability from 1 June

Food Minister Ram Vilas Paswan on Friday said as many as 20 states and union territories are getting ready for implementation of the ambitious ration card portability service 'One Nation-One Ration Card' from 1 June

Indian economy may contract 0.4% in FY21 on coronavirus pandemic, says two foreign brokerages

Two foreign brokerages on Friday predicted a contraction of 0.4 percent of India's GDP in the current financial year due to the impact of the COVID-19 pandemic

AGR row: GAIL says DoT's Rs 1.83 lakh cr demand notice not material event, legally untenable

GAIL said it had refuted the provisional assessment orders of DoT and sought its withdrawal.

SBI Cards Q4 net profit plunges 66% to Rs 84 cr on COVID-19 provisions, rise in expenses

SBI Cards and Payment Services on Friday reported a 66 percent decline in net profit at Rs 84 crore for the March quarter on additional provisions due to the COVID-19 crisis as well as rise in total expenses