The Reserve Bank of India (RBI) on Wednesday constituted a task force on the development of secondary market for corporate loans.

In India, banks sell their stressed loans to the asset reconstruction companies, but has practically no other alternatives. However, globally, there is a healthy corporate loan market where banks can offload their stressed assets and those get traded. Credit Default Swaps (CDS) against these loans also get developed as a result.

Growth momentum in India may turn out to be a “jobless growth scenario” in the next 3 years, if the manufacturing sector fails to pick up, said brokerage house Kotak Securities.

According to Kamlesh Rao, MD and CEO of the firm, job op­portunities in the services se­c­tor — a key contributor of em­p­loyment — are expected to re­d­uce in the current economic scenario. “The services sector, which fuels job growth, will definitely go down.

San Francisco/New York: Sundar Pichai was, for years, one of the world’s highest-paid corporate executives. Now he’s facing the opposite reality: No big paychecks at all.

The Google chief executive officer hasn’t received an equity award in more than two years. A key reason is that Pichai turned down a big new grant of restricted stock in 2018 because he felt he was already paid generously, according to a person familiar with the decision.

New India: Disinvestment-bound Air India has sought the government's approval to borrow ₹2,400 crore from National Small Savings Fund (NSSF), a pool of small savings from households, to meet its working capital requirements.

South Korean auto major Hyundai will drive in its first electric vehicle 'Kona' SUV into India in July, followed by a brand new 'Grand i10' before the festive season as it looks to increase its share in the auto market here, a top company official said Wednesday.

Besides, the automaker, which is present in India through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL),

Maruti Suzuki India Wednesday said it will invest Rs 24 crore to set up a 5 MW solar power plant at its Gurugram facility.

The company recently laid the foundation stone for the captive solar power plant which is expected to be commissioned in the current financial year, Maruti Suzuki India said in a statement.

Domestic equity benchmarks opened on a negative note on Wednesday amid weak global cues and fresh foreign fund outflow.

After falling over 100 points in opening session, the 30-share index was trading 40.01 points, or 0.10 per cent, lower at 39,709.72. Similarly, the broader NSE Nifty slipped 8.85 points, or 0.07 per cent, to 11,919.90.

The National Company Law Tribunal on Tuesday directed the Securities and Exchange Board of India to wrap up its investigations into the proposed sale of Hotel Leelaventure’s various undertakings to Brookfield by July 8, during a hearing on bankruptcy case against Hotel Leelaventure initiated by JM Financial Asset Reconstruction At Tuesday’s hearing,

Punjab National Bank (PNB) on Tuesday reported a narrowing of its loss by nearly 65% to ₹4,750 crore during the fourth quarter of the fiscal ended March 2019 even after making adequate provisions towards the Nirav Modi fraud and non-performing assets (NPAs).

State Bank of India (SBI) on Tuesday put on sale four non-performing assets (NPAs) worth Rs 230 crore on a 100% cash basis, with reserve prices implying haircuts of up to 79% for the accounts.

The four assets are Lovely International and Lovely Enterprises (Rs 95 crore), Abhijeet Ferrotech (Rs 89 crore), Trichy Tanjavur Expressway (Rs 24 crore) and Madurai Tuticorin Expressway (Rs 22 crore). The reserve prices for the four accounts suggest that the haircuts SBI is prepared to take stand at 79%, 63%, 48% and 43% respectively.

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