Moneycontrol BureauThe Reserve Bank of India (RBI) left the repo rate unchanged in its December policy review while maintaining accommodative stance, as it expects past monetary easing and measures taken by the government to feed into the real economy gradually.All six members of Monetary Policy Committee (MPC) voted in favour of a pause, the central bank said in a statement on December 5.Close To catch all the action from the Monetary Policy Meet, click here related news RBI Credit Policy | To issue draft norms for cooperative banks to strengthen safety of deposits Households expect inflation to rise, businesses see weak demand: RBI survey RBI Credit Policy | Monetary Policy Committee raises consumer inflation target for October-March to 4.7-5.1% Following are the key takeaways from the monetary policy:On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 5, 2019) decided to:- … [Read more...] about RBI Monetary Policy: A quick read of the policy document
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Lenders to Jet Airways have hit brakes on the Rs 1500 crore emergency funding that was earlier agreed upon, as hopes of keeping the troubled airline operational are dwindling by the day.The decision to pump in additional funding would also depend on the interest of potential buyers. Also, not all lenders were in favor of pouring in more cash when the debt resolution plan was firmed up in the first place.The airline, founded by erstwhile promoter Naresh Goyal, has been grounding more and more planes every week raising concerns on it's eligibility to keep functioning as per aviation norms.Close The operational fleet of Jet Airways is now down to just 26, from 119 earlier. In the latest round on April 2, the airline grounded 15 planes due to lease rental defaults. related news Market Headstart: Nifty50 seen opening lower; SBI, Bharti Airtel in focus SBI to sell 8.25% stake in UTI AMC via IPO Never gave assurance to Parliament about providing jobs to Jet Airways' employees: … [Read more...] about Emergency funding for Jet Airways put on hold until further clarity
SBI Capital Markets is said to have shortlisted four prospective bidders for the stake sale in Jet Airways as a part of the debt resolution process. These include TPG Capital, Indigo Partners, Etihad Airways and NIIF. The qualified bidders are expected to submit their binding bids latest by May 10. It is a crucial process for Jet Airways that is battling a number of issues on multiple fronts to stay operational.Here's a quick look at the bidders that are hoping to revive the troubled airline:TPG CapitalThe 27-year-old US-based private equity firm has investments in a wide range of sectors from industrials and financial services to healthcare, technology and real estate. Interestingly, it's first ever major investment was in then-bankrupt Continental Airlines in 1993. The Texas-headquartered airline, in 2013, merged into United Airlines. In 1994, the PE firm created an Asia-dedicated fund-TPG Capital Asia, which is now being led by Puneet Bhatia in India. The firm marked its presence in … [Read more...] about Jet Airways stake sale: Who are the bidders?
advertisement advertisement The leak late last week of an angry email from rapper Nas to the folks running the label that may or may not be putting out his new record this winter, Def Jam (subject: “Put my shit out!” — text below), is shocking mostly because it was leaked at all. You hear plenty of rumblings in the press these days about artists battling their labels (Lupe Fiasco’s Twitter-fueled protest outside of his label, Atlantic, for example), but you rarely get to see the explosion up close. Then again, it’s a volatile time. Labels aren’t making as much money, the musicians aren’t making as much money, and they scream at one another as they flame out. Or until the artist breaks free, a la OK Go or Nine Inch Nails—and still, with rare exceptions, doesn’t make the money they would have made under the old system. There’s a third way to go, the compromise route, which is what Somali rapper K’naan is trying … [Read more...] about K’Naan and Nas: Two Ways to “Manage” a Music Career
advertisement advertisement Advertising Age), announced that Alex Bogusky, perhaps the most influential figure in American advertising today, has resigned from MDC. The announcement, in the form of an innocuous press release, shocked the ad world. Indeed, Bogusky told me this morning, “I have severed all ties with MDC and Crispin.” Elvis has left the ad business. Bogusky, whom I first wrote about for Fast Company’s June 2008 cover story, has built Crispin in his image and seemed inextricably entwined with the agency. But he has been edging away from advertising for some time. Five months ago he left his full-time post at Crispin for a part-time job as “Chief Creative Insurgent” of MDC. The announcement of that move was barely a whisper. When I visited him a couple of weeks ago in Boulder, Colorado, Bogusky told me, “There was no going away party, no gold watch ceremony. It would have freaked people out.” But he also told me that he … [Read more...] about Alex Bogusky, Advertising’s Elvis, Tells Fast Company Why He Quit MDC and the Ad Biz