Business

Business units of Gujarat have got highest cumulative sanction of Rs 4,156 crore from banks, while disbursement was to the tune of Rs 1,657 crore at the end of June 18.

According to the Mumbai Metropolitan Region Development Authority, the decision to scrap the tender process was taken as the Chinese firms were "dictating" the authority to change its terms.

The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank's 235,000 staff worldwide.

VR Sharma, managing director of Jindal Steel and Power said India is already capable of producing the required amount and grade of steel for the needs of the oil and gas industry.

Prices rebounded from early losses after the energy minister of the United Arab Emirates voiced confidence that OPEC+ countries with poor compliance to agreed cuts would meet their commitments and reported signs oil demand was picking up.

India is expanding its gas infrastructure, including connecting households with expanding gas pipe network, as it aims to raise the share of gas in its energy mix to 15% by 2030 from the current 6.2%.

The paper proposed to limit the tenure of bank Chief Executive Officers (CEOs) and Whole Time Directors (WTDs) to 10 years if the person is from the promoter group, and 15 years if from non-promoter group.

The interest rate is linked to an external benchmark, which is the repo rate, with a cap of 7.50 per cent per annum. It has also fully waived the processing charges for these loans.

HCL Infosystems dipped 4.96 per cent, Tech Mahindra 2.96 per cent, Wipro 2.26 per cent, Infosys 1.63 per cent and TCS 1.41 per cent on the BSE.

Commerce and Industry Minister Piyush Goyal said the country's non-oil exports, excluding POL (petroleum oil and lubricant) exports, were down only 30 per cent.

Ambani now holds 80.52 lakh shares or 0.12 per cent of RIL, up from 75 lakh shares held before the rights issue.

The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April, Fitch Ratings said.

In the third trance, the RBI has fixed the issue price of the Sovereign Gold Bond Scheme 2020-2 at Rs 4,677 per gram of gold. Those who are using digital mode to purchase and pay will get a discount of Rs 50 per gram.

During the period of restraint, the existing holding of securities, including the units of mutual funds, will remain under freeze, the regulator said in an order.

Gasoline and gasoil sales in May are still down by about 36% and 31% respectively from a year earlier, after contracting more than 50% in April year on year.

The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.