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ILFS auditors under scanner. Accused of wrong doings by MCA

ILFS auditors under scanner. Accused of wrong doings by MCA

IL&FS seems to have a never-ending saga. After witnessing the liquidity crunch and the NBFC crisis, now the preceding two auditors are being debarred. Ministry of Corporate Affairs (MCA) filed...
Bharti Airtel to settle ownership row with Tanzania by paying $26.2 million

Bharti Airtel to settle ownership row with Tanzania by paying $26.2 million

Bharti Airtel agreed to pay 60 billion shillings ($26.2 million) for the settlement of ownership disputes to Tanzanian government over a period of five years. Airtel connects millions of people all...
Jet plunges 14.8% after Hinduja Group and Etihad Airways reconsider investment

Jet plunges 14.8% after Hinduja Group and Etihad Airways reconsider investment

Jet Airways Ltd. was a day late and a dollar short in striking a negotiation with Hinduja Group and Etihad Airways. The debt-ridden airline was forced to terminate the flight...
Larson & Toubro set to construct Navi Mumbai airport, likely to finish by mid 2020.

Larson & Toubro set to construct Navi Mumbai airport, likely to finish by mid 2020.

Larson & Toubro is about to become a leading player in the airport construction segment. They have bagged the contract of Navi Mumbai International Airport. On 7th June 2019, the...
Mutual funds shed their exposure in NBFC sector by ₹67000 crores

Mutual funds shed their exposure in NBFC sector by ₹67000 crores

As soon as the liquidity crisis was unfolded in the Non-banking Financial Service (NBFC) sector, numerous mutual funds, Provident funds, banks, etc resorted towards safeguarding their portfolios. Lenders initiated to...
Shaman and Gaggar drag Jet Airways to NCLT

Shaman wheels and Gaggar Enterprises drag Jet Airways to NCLT

It seems like there is no resurrection for debt-laden Jet Airways in the near future. The airline is going down the hill day by day with troubles not leaving their...
Surge in gold buying widens India's trade deficit to record $15.3 billion

Surge in gold buying widens India's trade deficit to record $15.3 billion

The trade deficit of India surged to $15.3 billion reaching to a five-month peak in April 2019. During the same period, India's gold imports jumped over 50% and gold led...
BMW X5 zooms in India at Rs 72.9L

BMW X5 zooms in India at Rs 72.9L

German auto firm BMW on 16th May 2019 launched its fourth generation Sports Vehicle in diesel variant. BMWX5 starts with the price of Rs 72.9 lakhs onwards in India. The...
CII launches Fiscal Performance Index to gauge government budgets

CII launches Fiscal Performance Index to gauge government budgets

The Confederation of Indian Industry (CII) works to maintain the environment propitious for the development of India.   CII is an industry-managed organization, which works with the non-profit objective. It...
Bank of Baroda to rationalise up to 900 branches post-merger

Bank of Baroda to rationalize newly merged branches

On April 1, 2019, Bank of Baroda merged with Dena Bank & Vijaya Bank to become the third largest bank in India. Bank of Baroda is now next to State...