With sales subdued and inventory with dealers piling up, two-wheeler makers like Bajaj Auto and TVS Motor have started facilitating zero-interest loans in select states to woo buyers. Meanwhile, Hero MotoCorp has dropped the interest on loans to 7% from the prevailing 10-12%. Manufacturers are offering these soft loans via their finance arms — TVS Credit, Hero FinCorp and Bajaj Auto Finance. The offer is currently available in some markets.

Rating agency Icra on Monday downgraded non-convertible debenture programme, long-term loans, long-term fund-based facilities and long-term non-fund-based facilities to (Icra) AA- (negative) from (Icra) AA (negative).

While short-term debt programme, commercial paper programme and short-term non-fund-based facilities have been reaffirmed at (Icra) A1+. Data from Bloomberg showed that, total debt of Tata Motors stood at `1.06 lakh crore as on March 2019.

State Bank of India (SBI) has sought expressions of interest (EoIs) for the sale of overseas oil and gas assets owned by Videocon Oil Ventures (VOVL) on behalf of a consortium of lenders, according to a public notice. This is the second time since October 2018 that banks have sought EoIs for these assets.

The overall slump in consumption has impacted cigarette sales of ITC Ltd. The diversified business conglomerate has reported around 3% volume growth in the April-June quarter, against 7-8% in the past three consecutive quarters. This growth slowed despite no hike in cigarette taxes for two years now.

Focus on data subscribers and weeding out low revenue customers have helped Bharti Airtel, while its peer Vodafone Idea could not implement the strategy.

However, network and content costs are on the rise for Bharti as it witnesses a steady rise in mobile data customers.

India's central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive.

The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.5 per cent, according to almost all of the 36 economists surveyed by Bloomberg.

India’s space agency on Sunday released the first set of pictures of Earth captured by a camera aboard the Moon-bound Chandrayaan-2 spacecraft still in orbit around the planet awaiting its next orbit-raising manoeuvre.

The Indian Space Research Organisation (Isro) released at least three pictures showing Earth from different perspectives, calling them “the first set of beautiful pictures of the Earth” from Chandrayaan-2.

Cigarette-to-soap maker, ITC’s June quarter results were not particularly encouraging. The cigarette business, which is ITC’s mainstay, disappointed.

Varun Lohchab, analyst at Jefferies India Pvt. Ltd, points out that “ITC’s Q1FY20 missed slightly operationally as cigarette volumes grew 3% year-on-year (versus our 4% expectation)."

New Delhi: State Bank of India (SBI) on Saturday said the Reserve Bank has imposed a penalty of ₹50 lakh on it for non-compliance relating to reporting of frauds.

RBI in exercise of the powers conferred under various sections of the Banking Regulations Act, has slapped penalties on eight commercial banks, including, Punjab National Bank and Bank of Baroda, for a host of violations, including delay on the reporting of fraud in the account of Kingfisher Airlines in case of two lenders.

Markets regulator Securities and Exchange Board of India (Sebi) is scanning InterGlobe Aviation Ltd’s shareholders’ agreement (SHA) to check for any violation of the rights of minority investors and individual shareholders, a person with direct knowledge of the matter said.

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