Business highlights

Following are the top business stories at 1920 hours:

DCM20 BIZ-LSQ-FINANCECOMMISSION Govt has no plans to give permanent status to finance commission: Thakur

New Delhi: The government has no plans to give permanent status to the finance commission, Union Minister Anurag Singh Thakur said on Monday.

DCM4 BIZ-LD AUTO SALES-SIAM Domestic passenger vehicle sales drop 6.2 pc in January

Greater Noida: Domestic passenger vehicle sales declined 6.2 per cent in January as vehicle demand continued to be stressed by rising cost of ownership and slower GDP growth, automobile industry body SIAM said on Monday.

DEL30 RS-2NDLD BUDGET Economy perilously close to collapse, being attended by incompetent doctors: Chidambaram

New Delhi: Former Finance Minister P Chidambaram on Monday tore into Narendra Modi government's handling of the economy, saying it was "perilously close to a collapse" and was being attended to by "incompetent doctors".

DCM31 LSQ-PSB-BAD LOANS Bad loans of public sector banks fall to Rs 7.27 lakh crore at end of Sept 2019: Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Monday said public sector banks' (PSBs) bad loans came down to Rs 7.27 lakh crore at the end of September 2019, on host of measures taken by the government to improve financial health of the banks in the country.

DCM42 BIZ-FITCH-RBI MSME restructuring extension signify RBI's shift in stance on asset quality, transparency: Fitch

New Delhi: The RBI extending the MSME loan restructuring scheme and allowing relaxation in asset classification for certain real-estate projects signify a gradual shift away from the regulator's earlier effort to enhance quality and transparency of asset classification by banks, Fitch Ratings said on Monday.

DCM39 BIZ-MUTUAL FUND Mutual funds' asset base hits all-time high of Rs 27.85 lakh crore in Jan-end

New Delhi: The mutual fund industry saw its asset base rise to an all-time high of Rs 27.85 lakh crore at the end of January, on the back of inflows in equity and debt-oriented schemes including liquid funds.

DCM7 BIZ-PROCUREMENT Govt clocks Rs 40,000 cr in public procurement transactions through GeM portal

New Delhi: Public procurement worth Rs 40,000 crore has taken place through the government's online marketplace GeM, Expenditure Secretary T V Somanathan said on Monday.

DEL38 BIZ-RUPEE-CLOSE Rupee settles 10 paise higher at 71.30 against USD on easing crude prices, weak dollar

Mumbai: The rupee on Monday rose by 10 paise to close at 71.30 (provisional) against the US dollar amid easing crude oil prices and weakening of the American currency in the overseas market.

DCM28 BIZ-RESULTS-GAIL GAIL Q3 net dips 25 pc as marketing margins drop

New Delhi: State-owned gas utility GAIL India on Monday reported 25 per cent drop in third-quarter net profit due to slump in margins on natural gas marketing as well as LPG and liquid hydrocarbons.

DEL34 BIZ-LD STOCKS Market falls for second day as coronavirus worries persist

Mumbai: Indian equities fell for the second straight session on Monday in line with global markets that continued to reel under mounting death toll and economic damage from the deadly coronavirus.

DCM27 BIZ-ILFS-CLAIMS IL&FS gets govt approval for Rs 2,700 crore claims towards stuck road projects

New Delhi: Crisis-hit IL&FS Group has received approvals from various government authorities for claims worth about Rs 2,700 crore towards stuck or incomplete road projects, officials said.

DCM17 BIZ-YUM BRANDS-DIL RJ Corp firm DIL to invest Rs 1,000 cr in 5 yrs; Yum! Restaurants picks stake

New Delhi: Devyani International Ltd (DIL), which operates Quick Service Restaurants of global brands KFC, Pizza Hut, Taco Bell, Costa Coffee, besides its own brand Vaango, will invest around Rs 1,000 crore in next five years for growing these brands.