Industry

Axis Bank’s fundraise is India’s second-largest qualified institutional placement, after SBI’s  ₹15,000 crore QIP in 2017. (Aniruddha Chowdhury/Mint)
Photo: Mint
Photo: Mint

SBI to roll out co-lending model with 4-5 NBFCs

  • Under the co-lending model, the bank will have an exposure between 70 and 80% while the rest will be borne by the NBFCs
  • It has been a year since the RBI laid out the framework for co-origination of loans by banks and NBFCs in the priority sector

A liquefied natural gas (LNG) cylindrical storage tank. (Bloomberg)
A liquefied natural gas (LNG) cylindrical storage tank. (Bloomberg)

Big Oil’s future may rest on climate debate over natural gas

On Monday, CEOs of the world’s largest oil companies are expected to speak at an event organized by the Oil and Gas Climate Initiative where they’ll likely defend the idea that gas is integral to a low-carbon future

The company had earlier said that USFDA issued seven observations after conducting a routine 'CGMP inspection'.
The company had earlier said that USFDA issued seven observations after conducting a routine 'CGMP inspection'.

Cipla announces closure of USFDA inspection at Bengaluru facility

  • The company had earlier said that USFDA issued seven observations after conducting a routine 'CGMP inspection'
  • Cipla announced the closure of inspection by the US health regulator at the company's API manufacturing facility in Bengaluru

A general view of the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia. (REUTERS)
A general view of the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia. (REUTERS)

We are committed to meet India's energy security needs: Saudi Arabia

  • A series of drone and missile attacks on oil facilities of Saudi Aramco, the country's national petroleum company, on September 14 knocked out half of its daily oil production
  • Saudi Ambassador Dr. Saud bin Mohammed Al Sati said his country will invite the United Nations and international experts to view the situation

CARE’s downgrade of Reliance Capital debt is a fresh setback to India’s shadow banks
CARE’s downgrade of Reliance Capital debt is a fresh setback to India’s shadow banks

CARE downgrades Reliance Capital’s 17,000 crore debt to default grade

  • CARE Ratings has downgraded Reliance Capital’s 17,000 crore debt to default grade ‘D’ from stable ‘BB’ earlier
  • Reliance Capital said the delay was caused due to 'a technical glitch in bank servers, and the payment went through on the very next bank working day i.e. 11 Sept 2019

Peter Estlin, Lord Mayor of the City of London, was on a tour of India last week to convince local regulators and companies to allow UK-based fintech companies to operate in India
Peter Estlin, Lord Mayor of the City of London, was on a tour of India last week to convince local regulators and companies to allow UK-based fintech companies to operate in India

UK fintechs want to enter Indian start-up sandboxes

  • Peter Estlin, Lord Mayor of the City of London, speaks about the city’s interest to allow its fintech firms to operate in foreign markets and 'allow for a cross-fertilisation of ideas'
  • India and the UK have been among the top five investors in each other’s economies since 2010

India’s energy demand is expected to grow at 4.2% per year over the next 25 years.
The funds mobilised will be used to meet growth requirement (Mint file)
The funds mobilised will be used to meet growth requirement (Mint file)

India Overseas Bank raises 500 crore via bonds

  • The base size of the issue was 500 crore with a greenshoe option of 300 crore
  • The bank received bids worth 855 crore with various coupon rates

NITI Aayog vice-chairman Rajiv Kumar (Ramesh Pathania/Mint file)
'Gully Boy' features Ranveer Singh and Alia Bhatt (IANS file)
A still from 'It's a girl' campaign
Prime Minister Narendra Modi with US President Donald Trump. Photo: Reuters (REUTERS)
Prime Minister Narendra Modi with US President Donald Trump. Photo: Reuters (REUTERS)

India to leverage its Strategic Energy Partnership with US

  • This comes in the backdrop of Prime Minister Narendra Modi’s visit to the energy resource rich country where he will be addressing an energy round table in Houston on Sunday
  • US secretary of state Michael Richard Pompeo has promised India of adequate crude oil supplies even as India

Actor Karan Deol at the screening of his film Pal Pal Dil Ke Paas in Mumbai. Photo: IANS (IANS)
Actor Karan Deol at the screening of his film Pal Pal Dil Ke Paas in Mumbai. Photo: IANS (IANS)

Bollywood pushes nepotism with little success, but persists

  • Since 2000, about 22 eminent names have launched-by either producing or directing (or both)-their children and other relatives
  • While the nepotism debate gains stronger ground in Bollywood, industry experts are quick to point out that names like Ranbir Kapoor and Alia Bhatt have proven their mettle

Revised rates could see firms pass on benefits to consumers. (Mint )
The timeline for auto-reversal has been set at between one day after the transaction to five days. Photo: iStock
The timeline for auto-reversal has been set at between one day after the transaction to five days. Photo: iStock

Failed ATM services: RBI tightens norms for banks, up penalties

  • RBI prescribed a turnaround time (TAT) for banks to settle failed transactions for customers and notified compensations payable for various types of customer complaints
  • The compensation should be done suo motu by the bank, without waiting for a complaint or a claim by a customer

The total number of telephone subscribers in India stands at 1186.63 million as of June end.
Netflix Logo (Photo: Bloomberg)
Paytm Mall said even for marquee products like the newly-launched Apple iPhone 11, there is considerable interest
Paytm Mall said even for marquee products like the newly-launched Apple iPhone 11, there is considerable interest

Millenials leading consumption in smaller cities: Paytm Mall ahead of mega sale

  • Around 50% of Paytm Mall's base that is leading is in the 19-25 year age group. Many of these are people spending their first salaries: Paytm Mall senior vice-president Srinivas Mothey
  • There was a minor 5% dip in consumer electronics, especially in the smartphone category

Earlier in January, the Ministry of Information and Broadcasting had announced a 25% rate hike for government ads in print media (Ramesh Pathania/Mint file)
Earlier in January, the Ministry of Information and Broadcasting had announced a 25% rate hike for government ads in print media (Ramesh Pathania/Mint file)

Media companies set to benefit from cut in corporate tax rate

  • According to media industry experts, this means positive news for the newspaper, television and other segments, which have been struggling with a fall in advertising revenues
  • The share of print in total advertising fell to 32% in FY19, against 35% in FY18: KPMG media and entertainment report 2019