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New Delhi sources stated that Prime Minister Narendra Modi said the country’s telecom sector has revived from its period of “darkness” and are among the fastest growing sectors in the country. Meanwhile when speaking at the foundation stone laying ceremony of the India International Convention and Expo Centre here
Accordingly with flood relief pouring in from all quarters in the form of cash, food, water and other basic supplies, public sector insurance companies, too, have jumped on board to address one of the worst crises facing Kerala. Presently to mitigate the loss, four insurance companies National Insurance Co Ltd, New India Assurance Co Ltd
Due to the massive increase in bad loans, the most prominent private sector bank of India, ICICI Bank has reportedly incurred a huge loss to the tunes of Rs 119.5 crore in a standalone basis during the June quarter.
Accordingly recently budget hotel chain Oyo Hotels has signed MoUs with State Bank of India and Bank of Baroda to extend support to budget hotels and creating jobs across levels. Meanwhile when signed under the aegis of the Pradhan Mantri Mudra Yojna, the MoUs will enable financial support for Oyo’s existing and potential hotel partners to be able to transform and standardize their properties.
Brick & Mortar retail is one of the biggest contributors to India's GDP as it comprises nearly 92% of total retail trade in the country which is worth $660 billion. However, this sector is under constant threat because consumers are preferring online shopping due to the convenience offered by e-commerce websites.
Chennai sources reported that the doctor population ratio of India seems unhealthy as against WHO recommendation of 1:1000. As per report the recent statistics by health ministry under National Health Profile-2018 shows that a government doctor serves a population of 11,082. Meanwhile with the current population of around 127 crore
Shocking revelations are coming one after the other, following the insurance company LIC, and getting ready to invest in the loss making IDBI Bank. In the past 25 years, of the 21 investments LIC has made in public sector industries, 18 have faced huge losses. LIC has a minimum of 1 percent share in almost all the public sector banks, and of these, only 3 banks have their share values good after December 2015.
Chennai sources added that the goods and services tax (GST) introduced to track the trail of transaction has in fact increased illegal activities in terms of billing by multiple times. ‘Bill selling’, a practice common in the construction sector among those who inflate cost of projects, has gone up four to five times after the launch of GST. Meanwhile in case of ‘bill selling’ a dealer or a distributor would buy the goods from a construction material manufacturer paying taxes and would get a
New Delhi sources stated that Prime Minister Narendra Modi on Wednesday interacted with thousands of youngsters who have made it big in the start-up sector and said it is the youth who have turned out to be the "job creators" of the nation. Meanwhile when describing India as a "youthful nation", Modi said the government is committed to "harnessing of the demographic dividend".
Risk Review Report on Indian Banking Sector by Alea Consulting Alea Consulting has come up with a risk review report on Indian Banking Sector. The Indian banking system emerged safe out of the credit crisis of 2008-09, however, the relief was short-lived as Indian banks are swamped by two major challenges - bank frauds and NPA crises leading to stressed balance-sheets at these banks.
