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Banks sanction Rs 1.38 trn loans to MSMEs under credit guarantee scheme

The Finance Ministry on Tuesday reported banking companies have sanctioned financial loans of about Rs one,37,586 crore less than the Rs three-trillion Emergency Credit score Line Assurance Plan (ECLGS) for MSME sector, hit really hard by the economic slowdown owing to Covid-19 pandemic.

On the other hand, disbursements from this stood at Rs 92,090.24 crore till August three less than the 100 for every cent ECLGS for micro, modest and medium enterprises (MSMEs).

The plan is the major fiscal ingredient of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan deal announced by Finance Minister Nirmala Sitharaman in May well.

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ICICI Bank June quarter net profit up 36.2 per cent to Rs 2,599 crore

Non-public sector loan company ICICI Financial institution has posted fourteen per cent rise in profit in advance of tax (PBT) at Rs three,183 crore in the quarter ended June 2020 (Q1FY21) on robust progress in internet curiosity income and monetisation of stake in subsidiaries.

It had posted a PBT of Rs two,793 crore in quarter ended June 2019 (Q1FY20).

Its internet profit for reporting quarter rose by 36.two to Rs two,599 crore from internet profit of Rs 1,908 crore in Q1FY20.

The Net Fascination Profits (NII) grew by 19.nine per cent on a Yr-on-Yr basis from Rs 7,737 crore in

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Yes Bank allots 3.41 bn shares to anchor investors, raises Rs 4,100 cr

Of course Financial institution on Tuesday allotted shares truly worth Rs 4,100 crore to fourteen institutional traders in the ‘anchor’ group of its follow-on general public presenting (FPO).

All over 3.41 billion shares were being allotted at Rs twelve apiece. Far more than half of the shares in the anchor e book were being subscribed by US-primarily based asset manager Tilden Park (underneath account name Bay Tree India). HDFC Lifestyle and Amansa subscribed shares truly worth almost Rs four hundred crore each. Jupiter India, Bajaj Allianz, ICICI Lombard, Reliance Common Insurance and RBL Financial institution are among some of the

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Bank of Baroda posts Q4 net profit of Rs 506 cr; stock ends 2% higher

Financial institution of Baroda on Tuesday noted a standalone internet earnings of Rs 506.fifty nine crore for the March 2020 quarter.

The lender had posted a internet earnings of Rs 991.37 crore in the January-March quarter of the preceding fiscal finished March 2019.

The figures for the quarter are not comparable calendar year-on-calendar year because of to amalgamation of Vijaya Financial institution and Dena Financial institution into it with impact from April 2019.

The Governing administration of India through a gazette notification dated January two, 2019 permitted the scheme of amalgamation between Financial institution of Baroda, Dena Financial institution and

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Mukesh Ambani keeps salary capped at Rs 15 cr for 12th straight year

Richest Indian Mukesh Ambani has kept his once-a-year income from his flagship agency Reliance Industries capped at Rs fifteen crore for twelfth yr on the trot in the fiscal finished March 31 and has thereafter determined to forego the entire remuneration in look at of the Covid-19 pandemic.

Ambani has kept income, perquisites, allowances and fee together at Rs fifteen crore because 2008-09, forgoing more than Rs 24 crore per annum.

This is at a time when remunerations of all whole-time administrators of the enterprise, like cousins Nikhil and Hital Meswani, noticed a handsome raise in the fiscal yr finished

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