Monday, Oct 18 2021 | Time 19:42 Hrs(IST)
Business Economy

Anish Mashruwala welcomes govt's announcement of 5 yr sovereign guarantee to NARCL

Mumbai, Sep 16 (UNI) Anish Mashruwala, Partner, J Sagar Associates, on Thursday
welcomed the government's announcement of the five year sovereign guarantee to the NARCL or bad bank.
Commenting on the announcement, he said,“The announcement today of the 5 year sovereign guarantee to the NARCL or bad bank, caps of the planned direction that the Government had envisioned to address the NPA stress. The move, while expected from the promise of the 2021 budget, has come off the back of some of the PSUs showing strength in capital market raising recently. The sovereign guarantee will support the regulatory provisioning requirement of the RBI on the security receipts portion under the structure and allow the banks to free up that capital without the burden of additional provisioning - effectively allowing more participation from the banks to resolve their NPAs through the bad bank.''
''This is a positive move for the banking sector and the Government has ensured that the majority of the PSUs are capable of standing on their own feet before announcing this. The success of the bad bank however will depend on the implementation and management of the transferred NPAs and it is likely that the Government will keep a close eye on the management of the India Debt Resolution Company that will be tasked with the same,'' he added.
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HarperCollins presents verse from Shrimad Rajchandrajis: Atmasiddhi Shastra: Six Spiritual Truths of the Soul

18 Oct 2021 | 7:23 PM

Here are some highly beneficial words that will advance aspirants on the highway of spirituality NEW DELHI, Oct. 18, 2021 /PRNewswire/ - World-renowned spiritual leader and founder of Shrimad Rajchandra Mission Dharampur, Pujya Gurudevshri Rakeshji has authored a lucid commentary in English, simplifying the essence embedded within every verse of Atmasiddhi Shastra for seekers around the world. The book is a step-by-step guide to self-realisation written with great compassion and vision. A universal and indisputable path is presented through an open-hearted, logical dialogue between an experienced Master and an earnest seeker.

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Penna Cement Industries gets Sebi approval for Rs 1,550 crore IPO

18 Oct 2021 | 6:37 PM

Hyderabad, Oct 18 (UNI) Hyderabad-based Penna Cement Industries on Monday announced it has received approval from capital markets regulator Securities and Exchange Board of India (Sebi) to go ahead with its Rs 1,550-crore Initial Public Offering (IPO).

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Mahanadi Coalfields dispatches record 5 47L tonnes of coal to consumers

18 Oct 2021 | 6:35 PM

(Repeating DC32)
Bhubaneswar, Oct 18 (UNI) Leading coal producer Mahanadi Coalfields Limited (MCL) has dispatched over 5.47 lakh tonnes of coal to consumers, breaking its own fortnightly record of 5.45 lakh tonnes.

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Agri10x integrates with Polygon

18 Oct 2021 | 5:21 PM

PUNE, India, Oct. 18, 2021 /PRNewswire/ - India's largest B2B e-marketplace Agri10x today announced its integration with Polygon, a leading ethereum scaling solution provider, aiming to give a facelift to the agriculture sector. Agri10x's AI and blockchain-enabled platform connects farmers with buyers worldwide, whereas Polygon is popularly known for providing ethereum scaling solutions. This integration is expected to fast-track business scalability and immensely benefit the agriculture sector at the grassroots level. Agri10x CEO & co-founder, Mr. Pankajj Ghode stated, "We are pleased to collaborate with the Polygon team and look forward to working together. Our strengths combined with their expertise will help streamline the supply chain process and offer strong support to our expansion plans."

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MSN Labs launches Empagliflozin tablets SGLT2i under brand name 'EMPAONE'

18 Oct 2021 | 5:20 PM

Hyderabad, Oct 18 (UNI) MSN Laboratories Private Limited, India’s leading integrated pharmaceutical company, on Monday announced that it has launched India`s most affordable Empagliflozin tablets (SGLT2i), the promising drug in diabetic management, under the brand name ‘EMPAONE’.

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