Indian

Air tickets booked during Mar 25-May 3 to be fully refunded: DGCA to SC

Sep 6, 2020

The aviation regulator in its affidavit said that if airlines are not able to refund the amount on account of financial distress, they shall provide a credit shell equal to the amount of fare collected and this shall be issued in the name of the passenger who has booked the ticket for domestic travel directly or through an agent including online platforms.

Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors

Sep 6, 2020

Companies in about half-a-dozen vulnerable sectors — hospitality, aviation, entertainment, commercial real estate and travel & tourism — whose businesses have been impacted severely due to the Covid-19 crisis will make a beeline for the scheme.

Centre close to finalising automobile scrappage policy: Nitin Gadkari

Sep 5, 2020

The policy is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles.

Significantly, the move is considered to be the most vital element of any further package to prop-up the sector’s growth.

Fintech the way forward for Indian banking, payment system: SBI MD

Sep 5, 2020

Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago.

“We believe that this 91 per cent will become 100 per cent. For a bank like State Bank of India, and other banks obviously, everything is going to move digitally. There is no doubt about that. Penetration of smartphones is also going to increase,” he said at a virtual conference organised by the Confederation of Indian Industry (CII).
Going forward, he said, branches are going to become nothing but distribution points like what has happened in Europe and other places

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