Business

The RBI said the revision in guidelines is an attempt to align the regulatory framework with the Basel guidelines on securitisation that have come into force effective January 1, 2018.

AstraZeneca contacted Gilead last month, but its US rival was not interested in combining with another big pharmaceuticals company.

Reliance Industries on Sunday said it sold 1.16 per cent stake in Jip Platforms to ADIA for Rs 5,683.50 crore, taking the cumulative fund raising to Rs 97,885.65 crore that will help pare debt at the oil-to-telecom conglomerate.

Forum for People's Collective Efforts (FPCE) also expressed disappointment over the six-nine months extension given to builders to complete the projects.

Terming banks as converters, the seasoned banker said, depositors' money is lent to borrowers and money earned from borrowers are paid as interest to savers.

The market capitalisation of Reliance Industries Ltd (RIL), the country's most valued firm, jumped by Rs 73,156.71 crore to Rs 10,02,006.10 crore.

Adding that the choices of individuals cannot be interfered with, he said, “I do not believe that the government is asking or forcing people not to buy from China.”

Wan Zulkiflee will take over as chairman of the national carrier effective on July 1, Muhyiddin said in a statement from the Prime Minister's Office.

Finance Minister Nirmala Sitharaman had announced that there will be a maximum of four public sector companies in strategic sectors while state-owned firms in other segments will eventually be privatised.

In Sensex, Asian Paints, HDFC, Bajaj Finance, IndusInd Bank, Axis Bank and Kotak Bank laggard. Meanwhile, Tech Mahindra, Sun Pharma, Bharti Airtel and HCL Tech were among the gainers.

The managing director of Bajaj Auto was in a dialogue with Congress leader Rahul Gandhi, as part of a series on India's COVID-19 response and the lockdown.

This updation includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seeding for 11.11 lakh subscribers.

In value terms, May imports dropped to $76.31 million from to $4.78 billion a year ago, the source added.

The ratings cut was not driven by the impact of the COVID-19 pandemic but amplifies vulnerabilities in India's credit profile that were present and building prior to the shock, the agency added.

The industry body said retail NBFCs principally finance truck and taxi drivers, marginal farmers and very small businesses who will need working capital support to get back to normalcy after the lockdown.

Uber India's decision comes after the Centre, on May 17, extended the nationwide lockdown until May 31, but allowed several more relaxations outside containment zones to restart economic activity.