Business Economy

Indian Bank profit up despite provisions

Public sector lender Indian Bank has posted a 62.42% increase in its standalone net profit for the third quarter ended December 2019 to ₹247.96 crore despite a surge in provisions. “Earnings of Indian Bank remained good despite the recognition of a huge sum of ₹1,325 crore of Dewan Housing Finance Corporation Ltd. (DHFL) account as […]

Business Economy National

India drop 10 ranks to 51st position in Economist Intelligence Unit’s Democracy Index

The latest edition of the Democracy Index spells gloom for India. The world’s biggest democracy slipped 10 places in the 2019 global ranking to 51st place. The survey published on January 22 attributes the primary cause of “the democratic regression” to “an erosion of civil liberties in the country”. India’s overall score fell from 7.23 […]

Business Economy

SEBI tweaks rights issue timelines

The Securities and Exchange Board of India (SEBI) has reduced certain reporting timelines for rights issues. “The period for advance notice to stock exchange(s) under Regulation 42(2) of LODR Regulations has been reduced from at least 7 working days to at least 3 working days [excluding the date of intimation and the record date], for […]

Business Economy

Citizenship Amendment Act is a law for justice, says Minister Prakash Javadekar

Information and Broadcasting Minister Prakash Javadekar on Wednesday said the Citizenship (Amendment) Act (CAA) was a “just” law to benefit the communities that had fled to India till 2014 facing religious persecution in Pakistan, Bangladesh and Afghanistan   Mr. Javadekar was addressing a press conference on the decisions of the Union Cabinet. When asked to […]

Business Economy

Need to have fairer, more equitable terms in trade relations, says Piyush Goyal

Union Minister Piyush Goyal on January 21 said India is working on ways to have fairer and more equitable terms in its trade relationships with various countries. Speaking in Davos at the World Economic Forum Annual Meeting 2020, the Commerce and Industry Minister also called for greater cooperation among various nations to realise the huge […]