Business

The SC said cooperative banks cannot carry on any activity without compliance of the provisions of the Banking Regulation Act, 1949 and any other legislation applicable to such banks relatable to 'Banking'.

An American financial organisation has agreed to sanction USD 15 million loan to an Indian education start-up to expand the access to quality education by providing critical financing to schools that serve low-income students in India.

In commodity markets, US crude futures sank in early trade on worries about oil oversupply, even as some US states start to ease coronavirus pandemic restrictions.

The coronavirus has infected workers at dozens of locations, igniting small protests and prompting labour organisers to demand site closures

A committee headed by the state’s chief secretary that also includes representatives from South Korea and Japan will submit a report within one month.

A study by Deloitte found that 27 companies of the 100 listed on the NSE, won't be able to sustain current wage bill from cash profits, if their revenue dips by 30 per cent or more.

IndusInd Bank's total income during 2019-20 march quarter rose to Rs 9,158.57 crore as against Rs 7,550.43 crore in the same period of the preceding fiscal year.

The finance ministry, sources said, has directed the CBDT Chairman to seek an explanation from these officers for writing such 'ill-conceived views' in public.

The country's crude steel output declined 14 per cent to 8.65 million tonne (MT) during March, according to a report by the World Steel Association.

Calling the partnership between Facebook and Jio unprecedented in many ways, RIL said this is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India.

According to a study, China has created a significant place for itself in India in the past five years in the technology domain through venture investments in start-ups and the online ecosystem.

IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti.

An industry expert said any country should not take advantage of this pandemic as domestic industries are facing severe credit flow issues due to lockdown on account of COVID-19 disease.

Despite reporting net profit of $78.2 million for the business year ended in October, “HLT has not been earning profits over the last few years,” Lim said in the filing, which has not been made public.

HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, after the lender posted a 15.4 per cent rise in consolidated net profit at Rs 7,280.22 crore for the March quarter on healthy interest income.

Moody's Investors Service Vice-President (Financial Institutions Group) Alka Anbarasu said the measures will soften the near-term credit negative impact on non-banking financial companies' (NBFCs) funding and liquidity.