New Delhi [India], November 9 (ANI/NewsVoir): Moneyboxx Finance Limited - a BSE-listed NBFC that provides small-ticket business loans to micro entrepreneurs in Tier-III cities and below, secured Rs 50 crores term loan from SBI for a period of 4 years.

New Delhi [India], September 13 (ANI/ATK): Personal loan is among the most preferred loan options for individuals requiring quick loan disbursals. Personal loans come with benefits like minimal paperwork, quicker disbursal, no requirement of collateral and zero restrictions in terms of end usage of funds. However, banks and Non-Banking Financial Companies (NBFCs) need to exercise caution while evaluating personal loan applications because of the unsecured nature of these loans. Some of the most important factors that lenders consider while evaluating the personal loan eligibility of a loan applicant are listed below.

New Delhi [India], June 25 (ANI): Tata Power Solar Systems Limited (Tata Power Solar), a wholly-owned subsidiary of Tata Power, said on Saturday it has commissioned India's largest floating solar power project in Kerala.

New Delhi [India], May 30 (ANI): The Supreme Court on Monday said that it will hear on May 31 a plea challenging the order of the Orissa High Court refusing to restrain the state government from carrying out excavation work around Shree Jagannath temple at Puri, Odisha.

Mumbai (Maharashtra) [India], May 30 (ANI/TPT): Rashtriya Chemicals and Fertilizers Ltd. and CFTI and are working in tandem to drive a campaign that focuses on training women in rural areas to become proficient in the art of tailoring.

Bhubaneswar (Odisha) [India], May 22 (ANI): Chief Minister Naveen Patnaik on Sunday lauded the state construction behemoth Odisha Construction Corporation Ltd (OCCL) on its 60th foundation day for its contribution to building a 'modern Odisha'.

New Delhi Apr 18 PTI RailTel Corporation of India a Mini Ratna central government PSU under the Ministry of Railways has received a work order from Rail Vikas Nigam Limited RVNL worth Rs 1157 crore for the installation of multi-protocol label switching MPLS virtual private networks VPNs at 33 locations across the countryAccording to the work order agreement the MPLS VPN network services will be created and maintained by RailTel at 33 locations of the RVNLThe services will be provided for a period of five years RailTel shall provide 24x7 customer care support as a part of the service according to a statement issued by the companyMPLS VPN is a flexible method to transport and route several types of network traffic using MPLS backbone These services have now assumed more importance as enterprises are turning to cloud-based applicationsVPNs based on MPLS are an excellent option for connecting to cloud-based services because of their inherent security characteristics scalability availability of infrastructure and capabilities for prioritising trafficIt is more reliable and secure than the public internet and is an optimum way to connect to the cloudThis MPLS VPN network will enable digitalisation of RVNL offices by making them more secure efficient transparent and contributing towards enhanced productivityRailTel has a pan-India high-capacity OFC network and using this network it delivers MPLS VPN services The MPLS VPN network is contributing towards enhancing productivity and helping to synergise the total operational processes Users of MPLS VPN are assured of a high Quality of Service QoS for their internet connectivity and as a result the apps and software that are on the cloud perform seamlessly Puneet Chawla CMD RailTel saidAs enterprises are turning to cloud-based applications and services MPLS VPN is the best way to connect them with better security We expect a further revenue growth from these kind of services given the digitalisation thrust across all enterprises he addedRailTel is also providing MPLS VPN network services in a very big way at various locations of all the subsidiaries of Coal India Limited Apart from MPLS VPN RailTel also provides internet lease line ILL services internet bandwidth CCTV implementation HD video conferencing and LAN or WAN connectivity solutions to its clients Chawla saidRailTel is a prominent information and communications technology ICT provider and one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fibre network of 61000 plus route km on exclusive right of way ROW along railway tracks PTI ASG RC

New Delhi Mar 28 PTI Union Finance Minister Nirmala Sitharaman on Monday attacked the previous UPA regime for its alleged failure to recover money from those who turned their loan accounts into non performing assets and said under the Modi government banks for the first time got back money from defaulters Sitharaman also said in the Lok Sabha that actions have been taken including registration of FIRs against those who have cheated small savings depositors through various fraudulent activitiesShe said the Reserve Bank of India is also monitoring activities of App based financial companiesResponding to questions by DMKs T R Baalu about the governments action against loan defaulters and NPAs the minister said writing off loans does not mean complete waive off and the banks are following every loan to recover the outstanding amountOver Rs 10000 crore I am saying over as I dont want to disclose the actual figure have been recovered by PSU banks from loan defaulters after taking over their assetsFor the first time in the country under the Modi government the banks got back money from many NPAs While during the UPA government no money was recovered from the NPAs she saidSitharamans remarks invited sharp reaction and protests from Congress leader in Lok Sabha Adhir Ranjan ChowdhuryThe finance minister said the opposition party must listen to the bitter truth and alleged that the loans were given during the previous UPA regime due to political considerationsEarlier the minister said the Financial Resolution and Deposit Insurance Bill 2017 FRDI Bill was introduced in the Lok Sabha in August 2017 and thereafter was referred to the Joint Committee of Parliament for examination and report thereon The main objective of the FRDI Bill was to create a specialised resolution mechanism for select financial sector entitiesThe government had withdrawn the FRDI Bill in August 2018 for further comprehensive examination and reconsideration of the subjectThe government has not taken a decision to bring a new law to provide for a legal framework for resolution of financial firms she saidSitharaman said with a view to provide a greater measure of protection to depositors in banks the Deposit Insurance and Credit Guarantee Corporation DICGC has raised the limit of insurance cover for depositors in insured banks from the level of Rs 1 lakh to Rs 5 lakh per depositor with effect from February 4 2020 with the approval of the central governmentThe minister said the government has already notified the Insolvency and Bankruptcy Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority Rules 2019 on November 15 2019 to provide a generic framework for insolvency and liquidation proceedings of systemically important Financial Service Providers FSPs other than banksSubsequently she said the government has also notified on November 18 2019 that the insolvency resolution and liquidation proceedings of the Non-Banking Finance Companies including housing finance companies with asset size of Rs 500 crore or more shall be undertaken in accordance with the provisions of the Insolvency and Bankruptcy Code 2016 IBC 2016Accordingly the framework to deal with the select Non-Banking Finance Companies is already in place under IBC 2016 she said PTI ACB DV DV

New Delhi Mar 20 PTI The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices but retail rates at petrol pumps remain unchanged sources said Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies widening the losses of retailers Worst hit are private retailers like Nayara Energy Jio-bp and Shell who have so far refused to curtail any volume despite a surge in sales But now closure of pumps is a more viable solution than continuing to sell more fuel at rates that have been on freeze for a record 136 days three sources with direct knowledge of the development said In 2008 Reliance Industries had shut all of its 1432 petrol pumps in the country after sales dropped to almost nil as it could not match the subsidized price offered by the public sector competition A similar scenario may unfold again as retailers losses widen from bulk users being diverted to petrol pumps they said Price of diesel sold to bulk users has been hiked to Rs 12205 per litre in Mumbai This compares to Rs 9414 a litre price of the same fuel sold at petrol pumps In Delhi diesel costs Rs 8667 a litre at the petrol pump but for bulk or industrial users it is priced at about Rs 115 PSU oil companies have not raised retail prices of petrol and diesel since November 4 2021 despite a surge in global oil and fuel prices a move seen as aiding the Bharatiya Janata Party BJP in crucial state assembly elections Prices were supposed to start aligning with cost after counting of votes on March 10 but the ensuing start of the second half of the Budget Session meant that the price increases didnt happen Private fuel retailers like Nayara Energy Jio-bp and Shell were forced to hold petrol and diesel prices as they would have lost customers if rates at their petrol pumps were higher than those of Indian Oil Corporation IOC Bharat Petroleum Corporation Ltd BPCL and Hindustan Petroleum Corporation Ltd HPCL But now the PSU retailers have hiked rates for bulk users such as state bus fleets and malls and airports which use diesel for generating back up electricity sources said There is hardly any bulk or industrial user of petrol diesel is widely used in industries The wide difference of about Rs 25 per litre between the bulk user rate and petrol pump price has prompted bulk users to refuel at petrol pumps rather than book tankers directly from oil companies they said This has led to widening losses of oil companies who were already bleeding from selling petrol and diesel at way below the cost While Nayara Energy did not reply to an email sent for comments Jio-bp -- the fuel retail joint venture of Reliance and UKs bp -- said there is a massive surge of demand at fuel stations retail outlets due to increased delta of Rs 25 per cent between retail and industrial price of diesel leading to heavy diversion of bulk diesel direct customers to retail outlets There is also a very heavy lifting of fuel by dealers and both B2B B2C customers who have advanced their purchases to top up their tanks and capacities in anticipation of price increase which is overdue Due to this immediate surge there have been record sales in March 2022 which is putting strain on the entire logistics and supply infrastructure Jio-bp spokesperson said This is further exacerbated by shortage of Tank Trucks and rakes due to sudden surge in demand along with limited availability of TT crew during the festive period across the industry the spokesperson added While private retailers have not disclosed sales PSU retailers have sold 353 million tonnes of diesel from March 1 to 15 up 328 per cent from a month earlier The sales were 237 per cent higher year-on-year and 173 per cent higher than sales in March 1-15 2019 Oil Minister Hardeep Singh Puri last week said that fuel sales had jumped 20 per cent due to hoarding in anticipation of price increase but sources insisted the sales also increased because of bulk users queuing at petrol pumps A Jio-bp spokesperson said in spite of challenges Reliance is fully committed to meet the demand of its retail customers While Nayara has 6510 petrol pumps in the country Jio-bp has 1454 PSUs control 90 per cent of the 81699 petrol pumps in the country In 2008 PSU retailers were paid government subsidies for selling petrol and diesel at below cost but private retailers were kept out of such a scheme This time around PSU retailers have been asked to square up their losses from inventory gains and higher refining margins they are earning now But private retailers do not have refineries to cover up for retail losses PTI ANZ DRR

Thiruvananthapuram (Kerala) [India], March 12 (ANI): Preventing state government from participating in an opening bidding process of Hindustan Lifecare Ltd, a central PSU, is against the principles of cooperative federalism, said Kerala Chief Minister Pinarayi Vijayan.