Live Markets »News & Advice»Market News»Market News Details
Market News Details
Back

News Digest: Funding for airlines, BS Fund Cafe, RBI dividend, and more

BS Web Team/New Delhi 09 Aug 18 | 02:37 AM

Airlines may get nod to tap foreign loans; govt mulls external borrowing

Distressed Indian airlines may get a new line of funding from foreign lenders, as the government is mulling opening up the external commercial borrowing (ECB) route for them to raise working capital. The civil aviation ministry has sought the intervention of the finance ministry to allow airlines to tap foreign funds.

Related Stories

    No Related Stories Found
Widgets Magazine

“Airlines, in their correspondence with the government, have requested that since aviation has become a primary mode of transport and an essential part of the infrastructure, they should be given benefits such as access to ECB for working capital. We have written to the finance ministry asking for it," said a senior ministry official. Read more

India's MF industry one of the costliest globally: Ex-Sebi chief UK Sinha

The asset management industry in India is one of the most expensive globally and there is scope for bringing down the cost of investing, said U K Sinha, former chairman of the Securities and Exchange Board of India (Sebi).

While delivering his speech as the chief guest at Business Standard Fund Café 2018, Sinha said due to high costs, we are seeing assets moving away from actively managed funds to exchange-traded funds (ETFs).

“Very serious focus on cost reduction is required, without which the industry may face some serious bumps," he said. Sinha added high cost was one of the reasons why pension money was going towards passive funds. Read more 

Govt gets fiscal deficit cushion, RBI to pay Rs 500-bn dividend for FY18

The Reserve Bank of India (RBI) will pay Rs500 billion dividend to the government for its financial year ended June 2018, giving it a cushion to manage the fiscal deficit. However, it is not clear if this includes the interim dividend of Rs100 billion the central bank paid the government in March 2018.

“The central board of directors of the RBI, at its meeting on August 8, approved the transfer of the surplus, amounting to Rs500 billion for the year ended June 30, 2018, to the Government of India," the central bank said in a statement. The RBI’s financial year extends from July to June. Read more 

Windfall commission perks up income of commodity world CEOs

These chief executive officers (CEOs) from the commodity world may not be making headlines often. But the remuneration earned by each of them will leave you amazed. In most cases, there has been a sharp surge due to a much higher profit linked commission, bringing a windfall for these executives, who also happen to be promoters.

Ravi Jhunjhunwala, the chairman and managing director (CMD) of graphite manufacturer HEG, according to the firm's annual report, took home a remuneration of Rs 433.2 million last year (against just Rs 23.3 million in FY17), thanks to a commission of Rs 410 million against no commission in FY17 as company was making losses. Rising prices and demand for graphite electrode, which finds application in steel making, helped the LNJ Bhilwara Group company report a handsome profit of Rs 10.81 billion in FY18 compared to a loss of Rs 500 million in the previous year. Read more 

Widgets Magazine

Sensex

Company Price Gain (%)
Larsen & Toubro1,323.956.74
Tata Motors269.554.74
O N G C168.553.34
Tata Steel599.403.24
Vedanta221.803.16

Poll

Currently No Poll Available.

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine