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Maha to inspect outlets of global fast-food chains after McDonald’s cheese crackdown
McDonald's biggest India franchisee, Westlife Foodworld, has been...
NCLT approves Hinduja Group firm IndusInd International Holdings’ resolution plan for Reliance Capital
However, no final decision on the matter can be taken by the...
27 out of top 100 companies can’t sustain current wage bill: Deloitte study
A nationwide lockdown imposed from March 25 to contain the spread of COVID-19 has resulted in the shutting down of businesses and factories, suspension of flights and trains and restrictions on the movement of people and goods. This has led to a slump in consumption, denting revenues of many companies.
“The situation appears less comfortable after considering that other current liabilities also need to be serviced from the same cash and cash equivalents cover. Thus, even if shareholders were to take the most generous view of foregoing their share of value adds for the current year, wage bill cuts are imminent for even some of the largest of the companies in India,” said.
BSE puts in place penalty structure for non-submission of cyber security report
Non-submission of the report after three months will attract disablement of trading terminals across segments after giving two weeks’ notice, the exchange said.
BSE, further, said “disablement notice issued to the member would be shared with all the exchanges for information” and member will be enabled only after submission of the report.
Coronavirus Pandemic:Cases rise to 31787 ,death toll at 1008
Highlighting India’s approach in combating COVID-19,Union Health Minister Dr Harsh Vardhan said,“This time the hallmark of our approach has been fivefold: Maintaining a continuous situation awareness; Pre-emptive and proactive approach; Graded response as per continuously evolving scenario; Inter-sectoral coordination at all levels; and lastly, but most importantly creating a people’s movement to combat this disease.
The home ministry in a tweet has communicated that new guidelines to fight the coronavirus pandemic shall come into effect from May 4. The guidelines will give considerable relaxations to districts that have done well to combat the virus so far.
Govt extends easier ‘work from home’ connectivity norms for IT, BPO firms Jul 31
Industry body Nasscom said the decision to extend the timelines on relaxed norms for other service providers (OSPs) to facilitate ‘work from home’ will help IT and BPO firms plan their strategy of bringing back workforce to offices, in a gradual and phased manner.
Bharti AXA General launches ‘Usage-based Motor cover for private car owners
Under this product, a customer pre-declares vehicle usage for a period of one year. Accordingly, the insurance premium will be calculated dynamically as per the pre-declared distance in km. The customer can choose from three slabs – 2500 km., 5000 km. and 7500 km – as per his/her usage need.
COVID-19 death toll rises to 934 in India; cases climb to 29,435: Health ministry
Of the 934 deaths, Maharashtra tops the tally with 369 fatalities, followed by Gujarat at 162, Madhya Pradesh at 110, Delhi at 54, Rajasthan at 46 and Andhra Pradesh and Uttar Pradesh at 31 each
Moody’s slashes India growth forecast to 0.2% for 2020
“India extended a nationwide lockdown to 40 days from 21 days, but relaxed restrictions in rural areas to facilitate agricultural harvesting in the second half of April. The country has determined that many of these areas are free of the virus. India also plans a phased opening of different regions while continuing to carry out identification and contract tracing, Moody’s said.
In an all-cash deal,Axis Bank to acquire 29% of Max Life Insurance
Deal marks coming together of 3rd largest private bank and 4th largest private life insurer
Strategic transaction to strengthen the franchise and bring long term orientation to the
relationship
Axis Bank to own 30% stake in Max Life post transaction closure
Max Life to include Axis Bank logo in its brand tag line to demonstrate the close knit partnership
RBI announces Rs 50,000 cr special liquidity facility for mutual funds
In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
COVID-19 death toll rises to 872 in country; cases climb to 27,892: Health ministry
Of the 872 deaths, Maharashtra tops the tally with 342 fatalities, followed by Gujarat at 151, Madhya Pradesh at 103, Delhi at 54, Rajasthan at 33 and Andhra Pradesh at 31.