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Finance Ministry ready to do more for NBFCs, says Nirmala Sitharaman

Loknath Das

Will seek details from PSBs on funding to NBFCs, retail customers on Oct 14 Finance Minister Nirmala Sitharaman, on Thursday, said she is “not sitting back” after the recent spate of measures, and will take more steps if required for non-banking finance companies and other sectors. The minister will be meeting the chiefs of public sector banks on October 14, and she said will seek details of funding to NBFCs and retail customers. “I am not sitting back saying I have given some solutions for NBFCs. There may be more…

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Finance Minister Nirmala Sitharaman to Meet CEOs of Public Sector Banks on October 14

Loknath Das

New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) next week to discuss various issues, including progress on credit offtake. The meeting, scheduled to be held on October 14, is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to present report card on partial credit guarantee scheme and fund raising from market to enhance their capital base. The Centre in August issued guidelines on operationalising Rs 1 lakh crore…

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Here Are This Week’s Weirdest Reasons to Travel

Loknath Das

Get ready for some good ol’ wholesome vacation suggestions, my sweet friends. Everybody’s got their reason for traveling, be it for the beautiful locales, incredible cultural experiences, rugged landscapes, et al. But what about those of us with extremely specific interests that reside outside of these (very nice) reasons? We have compiled a list of this week’s weirdest and extremely specific reasons to travel this fall, and approximately five kinds of people who will be very into them (er, one of them, at least). You Never Forgot Lisa Frank and You Never…

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World Tourism Day: Meet these 5 women who choose to travel solo

Loknath Das

Whether it’s going on family trips, making quick getaways with a few friends, we all love to take a break from our routines. Travelling solo is an experience unlike any other. It opens one’s eyes to a very different way of life, boosts confidence, and teaches valuable life lessons. On World Tourism Day, meet these five women who are passionate about travelling solo and exploring the world around them without inhibitions. (L-R) Chandana Rao, Rutavi Mehta, Esha Gupta, Anahita Sriprasad, Priti Vishwakarma Chandana Rao Chandana Rao began travelling solo after quitting a corporate…

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UK travel giant Thomas Cook collapses, Goa set to feel pinch

Loknath Das

More than 600,000 vacationers who booked through tour operator Thomas Cook were on edge Sunday. (AP Photo) Tourist footfalls from the United Kingdom to Goa are expected to take a severe hit after British travel group Thomas CookNSE -2.65 % declared bankruptcy on Monday, an umbrella body of tour and travel operators said here. The 178-year-old operator had been desperately seeking 200 million pounds ($250 million, 227 million euros) from private investors to save it from collapse, but a last-ditch rescue deal failed, triggering the UK’s biggest repatriation since World…

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Travel giant Thomas Cook fails to find private funds to avert collapse: Source

Loknath Das

Iconic British travel firm Thomas Cook has failed to find further private investment to stave off collapse and is now relying on an unlikely government bailout, a source close the matter told AFP on September 21. The operator had said on September 20 that it needed 200 million pounds ($ 250 million) — in addition to the 900-million pound rescue deal secured last month — or else face administration, which could potentially trigger Britain’s largest repatriation since World War II. A source close to the negotiations told AFP that the company had failed to…

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Tata Motors announces Ziptron technology to power its future electric vehicles

Loknath Das

Tata Motors launched an indigenously developed technology for electric vehicles, called Ziptron. The company claims this technology or the platform it provides has been built with the Indian conditions in view and will offer a reliable powertrain for electric vehicles. The highlight of the Ziptron announcement will definitely be the company’s claim that they would be able to offer a massive eight years warranty on the battery and the motor of the vehicles powered by Ziptron. This would be a path-breaking feature for automobiles since the existing vehicles running on fossil fuels…

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Into The Wild: 3 Places To Travel If You Love The Outdoors

Loknath Das

A Taquan Air floatplane glides above Southeast Alaska on a flightseeing tour TAQUAN AIR Though Jon Krakauer rendered the phrase immortal in his nonfiction account of an ill-fated young man who ventured into the Alaskan wilderness, the allure of going ‘into the wild’ predates his book’s 1998 publication date. (Though, of course, Alaska is featured on our list, because—why wouldn’t it be?) This call of the wild (to borrow from another author, Jack London), has been around since time immemorial. It’s a transcendent impulse, memorably chronicled by the late poet,…

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Home, vehicle, other retail loans to become cheaper: Finance Minister

Loknath Das

The government on Friday announced a slew of measures to ensure that loans for home, vehicles and consumer goods become cheaper and widely available through banking and non-banking finance companies. Addressing the media here, Finance Minister Nirmala Sitharaman also said that banks will pass on RBI rate cut benefits to borrowers through MCLR reduction. She said that banks will launch repo rate and external benchmark-linked loan products that will lead to reduced easy monthly instalments for housing, vehicle and other retail loans. The minister also announced additional liquidity support of Rs…

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How To Empower Your Employees To Learn New Technology

Loknath Das

Here’s the irony. Our new “data-driven world” has created unprecedented demand for workers with skills in collecting, processing, analyzing and understanding data. But it has also done the opposite. More than ever, businesses need people with skills at the other end of the spectrum, such as creativity, emotional intelligence, empathy, and collaboration. These were once called soft skills. Now, they’re “power skills.” This is happening because of advances in machine learning and artificial intelligence. As these new technologies take over certain types of jobs, the uniquely human skills built around our ability…

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