Top 10 biz headlines: Budget 2019, DHFL fallout, 5G spectrum, and more

Budget 2019: FM Sitharaman may retain fiscal deficit target at 3.4% of GDP

When Finance Minister Nirmala Sitharaman presents her first Union Budget in the Lok Sabha on July 5, she is highly likely to forecast a fiscal deficit target for 2019-20 (FY20) at 3.4 per cent of gross domestic product (GDP), retaining the figure of the FY20 interim Budget presented on February 1. READ ON...

Raise 5G spectrum sale bar, hike base price for select bands: DoT to Trai

The Department of Telecommunications (DoT) has asked the Telecom Regulatory Authority of India (Trai) to review its recommendations on 5G spectrum auctions. The DoT wants the telecom regulator to increase the quantum of airwaves on sale and hike the base price for some frequency bands, it is learnt. READ ON...

DHFL aims to clear all dues by the end of 'cure period', rescale business

Dewan Housing Finance Corporation (DHFL) is confident of honouring its repayment obligations by the close of the seventh working day (June 13). READ ON...

RIL-BP wins first block under OALP rounds, Oil India, Vedanta bag the most

Global major BP Plc and its partner Reliance Industries (RIL) have jointly emerged as the winner of a block in the fresh round of auction under the Open Acreage Licensing Policy (OALP). READ ON...

RBI's new circular on stressed assets may not hit lenders' provisions hard

The revision in stress resolution guidelines is unlikely to have a significant impact on the provisioning and earnings of corporate lenders, as banks have already recognised a major chunk of such accounts under the Reserve Bank of India’s (RBI’s) February 12 circular. READ ON...

Banks opting for one-time settlement as NCLT waiting time goes up

Delay in admitting cases to the National Company Law Tribunal (NCLT) is prompting banks to opt for one-time settlements for small- and mid-sized companies. READ ON...

Transactions of debt-ridden Educomp Solutions come under SFIO scanner

Suspect transactions of debt-ridden Educomp Solutions have come under the lens of Serious Fraud Investigation Office (SFIO), which is probing the company for alleged fund-diversion and inflated land deals, people in the know of the development said. READ ON...

Cash-strapped Urban Ladder lays off hundreds of employees

Omnichannel furniture retailer Urban Ladder has been trimming flab to sustain its operations, but its leadership team claims it is just a couple of months away from turning EBITDA (earnings before interest, tax, depreciation and amortisation) positive, reports The Hindu BusinessLine.

Troubled NBFC sector likely to further starve realty

Funds flow from non-banking finance companies (NBFCs) to the liquidity-starved real estate sector is expected to dry up further after DHFL’s recent downgrade, as other NBFCs wait out the latest uncertainty, reports Economic Times.

Royal Enfield pins hopes on new bikes to push sales

New 650cc bikes and a renewed thrust on ramping up its sales and distribution network in India will spearhead the turnaround plan of Eicher Motors Ltd, the maker of the iconic Royal Enfield motorcycles, according to the plan unveiled by the company in an investor meet in the UK earlier this month, reports LiveMint.

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