HDFC's pre-tax profit down 27% in Q4 due to higher provisioning for Covid
HDFC has reported a 27 per cent decline in profit before tax at Rs 2,692 crore in the March quarter because of higher provisioning for uncertainties due to the Covid-19. Read more here
Huge scam in YES Bank for many years, says Enforcement Directorate
According to the ED on Monday, a huge scam was brewing for many years during the tenure of YES Bank CEO Rana Kapoor, who knowingly indulged in fraud activities. Read more here
Covid-19 crisis: 80% MSMEs in Sonipat hub await their turn to open
The first of a five-part series captures the restlessness of workers in Haryana's industrial clusters struggling to restart operations. Read it here
ATMs to become virtual bank branches, accept deposits with instant credit
Nearly 95 per cent of replacement orders for ATMs
are for new-age recyclers, which not only dispense cash but also allow deposits that get reflected in the account immediately. Read more here
Direct tax mop-up rises 39% amid sharp decline in disbursement of refunds
Gross direct tax collections recorded a 13 per cent fall up to May 23, compared to the same period last year, due to coronavirus pandemic. Read more here
ILO reaches out to PM Modi over labour law changes in various states
The International Labour Organisation on Monday has taken up with PM Narendra Modi the concerns related to the proposed labour law
amendments by the state governments. Read more here
Home appliances remain immune to Covid, lockdown relaxation boosts demand
According to a survey, 28 per cent consumers in 12 cities across the country were open to the idea of buying a home appliance in the next few weeks. Read more here
Why ITC's Sunrise Foods deal is positive but unlikely to push up valuation
ITC’s acquisition of Kolkata-based Sunrise Foods, will improve the growth outlook of ITC’s FMCG business, which includes popular brands, such as Aashirvaad, Bingo!, Yippee!, and Sunfeast. Read more here
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