Ignoring RBI’s relief, some lenders ask microfinance clients to pay loan instalments

Kolkata: Some lenders — both banks and non-banks — have told their microfinance clients to pay loan instalments which have now fallen due, going against the spirit of Reserve Bank of India’s moratorium relief. These lenders with sizeable loan exposure to NBFC-MFIs have also deducted the installments ignoring the request for moratorium. They said the Read More …

NALCO records more than 100% capacity utilisation at its Panchpatmali mines

Kolkata: National Aluminium Company (Nalco), the country’s leading producer and exporter of alumina and aluminium, said it recorded more than 100% capacity utilisation at its Panchpatmali mines by producing 73.02 lakh tonne of bauxite in fiscal 2019-20, which is the highest ever since company’s inception. Bauxite transportation too went up to 73.02 lakh tonne, also Read More …

Retailers selling cigarettes and liquor in black hike prices

With liquor and cigarettes not classified as essentials in India, prices of these products have shot up with several retailers selling them at black charging 5-10% price premium over their sticker rate. While grocery shops are the only ones selling cigarettes since pan-and-cigarette shops remaining closed for the 21 days lockdown, these retailers are selling Read More …

Dineout steps in with #ReliefForRestaurants petition as the restaurant industry takes a hit amidst COVID-19 lockdown

NEW DELHI: With the outbreak of COVID-19 and a 21-day national lockdown in the country, the restaurant industry has seen a severe hit in their business. As restaurants function on the concept of social gatherings and outings, all of them have decided to shut down their operations till April 15, 2020 to ensure public health Read More …

COVID-19: India likely to ease some drug export curbs after U.S. pressure soon, says sources

NEW DELHI: India will likely relax some export restrictions on pharmaceutical products soon due to intense pressure from the United States which is worried about drug shortages as the number of coronavirus cases surge, two Indian government officials told Reuters. India, which supplies more than a quarter of the world’s generic drugs, last month restricted Read More …

All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches

State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches. The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect from April 1, 2020. The merger will create the second Read More …

Honda commits Rs 11 cr for fight against COVID-19

NEW DELHI: Honda India Foundation, the Corporate Social Responsibility (CSR) arm of Honda group companies in India, on Wednesday pledged Rs 11 crore aid towards COVID-19 relief and prevention measures. As part of the initiative, Honda will immediately supply 2,000 units of high pressure backpack sprayers to various government agencies. These light-weight powerful sprayers will Read More …

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