The CEO said that the bank was able to bring down costs by almost 20 percent in the first quarter, and has now appointed a consultant to look at medium and long term cost rationalisation measures. Kumar alluded to the fact that holding a virtual annual general meeting (AGM) had enabled the bank to save as much as Rs 90 lakhs. "It cost us Rs 1 crore to hold the (physical) AGM last year, and this year it only cost us Rs 10 lakhs," he said, adding that the bank would take guidance from its shareholders on whether to continue with this format. … [Read more...] about Yes Bank says no merger plans with SBI, repays entire Rs 50,000 crore to RBI
5 percent meal plan
No-destination flights are among the novel services to come out of the aviation industry in the middle of the pandemic. The airline industry is one of the worst affected due to the coronavirus outbreak. Many have resorted to layoffs, leave without pay and salary cuts to reduce costs. … [Read more...] about Singapore Airlines plans ‘no-destination’ flights to satisfy flyers’ itch: Report
Taking a dig at the government, Congress leader Rahul Gandhi on Saturday said its "well planned fight" against coronavirus has allegedly put India in an "abyss" of GDP reduction of 24 percent, 12 crore job losses, ₹15.5 lakh crore additional stressed loans and globally highest daily COVID-19 cases and deaths. … [Read more...] about Govt’s ‘well planned fight’ against COVID-19 has put India in ‘abyss of GDP reduction’: Rahul Gandhi
Moneycontrol’s takeYou could just as well plan for your child’s future through an existing and even an open-ended fund that comes with a track record.SBI’s fund will now have two variants – equity and debt-oriented – just like most other children-focused mutual fund schemes. It also aims to benefit from investing across asset classes; a strategy that has proved beneficial in recent times. Of course, the scheme is meant for a child’s financial planning and comes with a five year lock-in. Investors can give the new scheme a miss. Instead, the fund house’s other existing open-ended schemes may help reach your financial goals. … [Read more...] about SBI Magnum Children’s Benefit Fund (Investment Plan) NFO: Should you invest?
Krishna Prasad Chigurupati, founder of Granules India, one of the world’s top makers of the popular pain reliever paracetamol, has revived plans of the promoter family to evaluate a potential exit and sell a controlling stake, people familiar with the matter told Moneycontrol. The promoters hold 42.13 percent stake in the Hyderabad-headquartered firm, which set up a paracetamol facility in 1984. … [Read more...] about Promoters of Hyderabad-based Granules India revive exit plans