Centre Advises Coal India, NLC India to Cut Supply Costs
The Indian government has issued a directive to Coal India and NLC India, the country’s leading coal producers, urging them to explore avenues to reduce coal supply costs by 10-15%. This move comes amidst growing concerns over the rising cost of coal, which is squeezing power generation companies and pushing electricity prices upwards for consumers. […]
FPIs’ March Investments: Rs 50,000 Cr in Equity, Debt
Foreign Portfolio Investors (FPIs) have exhibited sustained optimism in the Indian economy by injecting a net investment of Rs 50,493 crore ($6.3 billion) into the Indian stock and debt markets during March 2024. This positive stance comes in the face of significant volatility that roiled the stock market throughout the month. Data gleaned from the […]
BSNL Plans Two 10-Year Govt-Guaranteed Bonds
Faced with a substantial debt burden, India’s state-owned telecom operator, Bharat Sanchar Nigam Limited (BSNL), is taking a proactive step towards financial recovery. The company has announced plans to issue two separate 10-year bonds with a government guarantee, aiming to raise a total of ₹24.06 billion. This initiative follows the Indian government’s revival package unveiled […]
Meeting MPS Norms: 5 PSU Banks to Reduce Govt Holding
The Indian government is accelerating its efforts to bring public sector banks under the purview of SEBI’s minimum public shareholding norms. This regulatory requirement mandates that all listed companies maintain at least 25% public shareholding. While four PSBs – State Bank of India, Punjab National Bank, Bank of Baroda, and Bank of India – achieved […]
Public Sector Banks to Present 3-Year Business Plans by March
India’s public sector banks (PSBs) are burning the midnight oil to meet a critical deadline set by the government. As per recent directives, all PSBs must submit comprehensive business plans for the period 2024-27 by March 31st, 2024. This directive applies to all state-owned lenders, encompassing giants like State Bank of India (SBI), Punjab National […]
Flipkart Ordered to Pay ₹10K for Cancelled iPhone Order
A recent order by the District Consumer Disputes Redressal Commission (DCDRC) in Mumbai has shed light on the importance of consumer rights and transparency in e-commerce transactions. The commission directed e-commerce giant Flipkart to pay ₹10,000 to a customer for mental harassment caused by the unexpected cancellation of their iPhone order. Case Details and Chronology […]