Million dollar business loan

The regulator named KV Kamath as the head of the Expert Panel for loan restructuring last week, along with 4 other members who will submit their recommendations on sector-specific parameters and other considerations within 30 days. The committee is also tasked with reviewing all large resolution plans involving a debt of over Rs 1,500 crores. … [Read more...] about Bank union approaches RBI seeking review of KV Kamath’s appointment as loan restructuring committee head

On the 80 per cent drop in automotive revenue in the first quarter, he said, "With that kind of drop in revenue, anyone would come under pressure. We, though, believe that we have done better than all our peers. Our performance has been pretty robust in context of 80 per cent drop in revenue." … [Read more...] about Mahindra eyeing strategic partnership in electric vehicles business: Pawan Goenka

“In an ideal world, I’d prefer to purchase new textbooks, more technology, allocate more resources to at-promise students,” he says. “It’s not the reality of what we’re dealing with now. Right now, safety first and academics second.” … [Read more...] about The cost of schools reopening? $1.77 million for the average district

Turning to the gig economy as a safety net poses a series of contradictions. Because workers are generally classified by their employers as independent contractors, they lack rights employees have, such as a guaranteed minimum wage, and earned benefits, such as unemployment insurance. At the same time, gig employers create jobs that are relatively easy to enter, which is especially valuable for workers facing financial instability. And many enjoy the schedule flexibility that comes along with being an independent contractor, even when they work largely under the control and direction of their algorithmic managers. This tension, between limited rights and economic opportunity, has direct implications for how gig workers struggle to receive unemployment insurance during the pandemic. As employees, drivers would get state unemployment insurance that can be hundreds of dollars more than pandemic unemployment assistance because of the way it’s calculated. And because gig workers may … [Read more...] about Gig work used to be a recession-proof safety net. Not anymore

In its complaint, Kotak Mahindra Bank alleged that the travel company in “manifold transactions” managed to “siphon off huge sums … from banks, financial institutions and public investors” through subsidiaries and offshore companies. The bank added that it extended financial services to Cox & Kings since 2012 and outstanding amount till June 24, 2019 was Rs 174.3 crore. … [Read more...] about Axis Bank, Kotak Mahindra Bank allege Rs 1,204-crore fraud by Cox & Kings: Report