State-owned Bank of Maharashtra (BoM) on Wednesday said it has posted a credit growth of 29.59 per cent at Rs 1.75 lakh crore for the March quarter. The outstanding credit was Rs 1.35 lakh crore at the end of March 31, 2022, BoM said in a regulatory filing. The Pune-headquartered lender registered a 21.28 growth [...]
Motilal Oswal Alternatives (MOA) on Wednesday said its investee company IKF Finance has raised Rs 250 crore in a funding round led by Accion's Digital Transformation Fund. The south-based non-bank lender has been operational since the 1990s and focuses on the commercial vehicle, small business and affordable housing segments. MOA had invested in the company [...]
Small and medium IT companies are yet to recover from the impact of the Covid-19 induced lockdown because of the high attrition rate of their employees after upskilling, according to a survey. According to the survey by Micro Small and Medium Enterprises -Export Promotion Council (MSME-EPC), the highest attrition rate of 35 per cent is [...]
Consumer demand remained "steady" through the March quarter and the FMCG sector is expected to witness a gradual recovery in growth rates, said Godrej Consumer Products Ltd (GCPL) on Wednesday. The performance of the Godrej group FMCG arm in the Indian market has "exceeded expectations, especially on the volume front". "We expect to deliver double-digit [...]
Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp on Wednesday said its total disbursement grew 151 per cent year-on-year to record Rs 6,370 crore in the March 2023 quarter. Its assets under management (AUM) increased by 37 per cent year-on-year and 16 per cent quarter-on-quarter to about Rs 16,120 crore at March-end 2023, despite a sharp [...]
The country may look at importing dairy products if needed as there is a supply constraint for such items due to milk production remaining stagnant in the last fiscal, a top government official said on Wednesday. The government will intervene to import dairy products like butter and ghee, if required, after assessing the stock position [...]
Britannia Industries Ltd shares are trading flat today at Rs 4,322.50 in comparison to the previous closing price of Rs 4,324.05. In the past week, the scrip gained around 3 percent. In a recent filing with the exchange, the company informed that the Board of Directors have declared an Interim Dividend at 7200%, i.e., Rs [...]
Fantasy sports segment revenue is expected to grow in the range of 30-35 per cent to Rs 2,900-3,100 crore during the ongoing IPL 2023 cricket tournament season over the last year, market research firm Redseer Strategy Consultants said on Wednesday. The data estimates show 6.5-7 crore users are expected to transact on gaming platforms. Redseer [...]
Sensex and Nifty rallied nearly 1 per cent on Wednesday as the benchmark indices closed in the positive territory for the fourth straight trading session on the back of gains in IT and financial shares. A day ahead of the Reserve Bank of India's monetary policy review, the 30-share BSE Sensex surged 582.87 points or [...]
The unemployment rate in Jammu and Kashmir declined from 6.7 per cent in 2019-20 to 5.2 per cent in 2021-22 while the urban unemployment rate dipped by 1.1 percentage points, according to the Economic Survey Report 2022-23. The report, released by Jammu and Kashmir Chief Secretary Arun Kumar Mehta recently, stated that the labour force [...]
