Top 10 business headlines: NBFC crisis, mobile user base dips, and more

From NBFC crisis to Ola suspending Foodpanda delivery, Business Standard brings you top 10 stories that made news on Tuesday

RBI rules out credit line for NBFCs, discusses revised bad loan circular

The Reserve Bank of India (RBI) board on Tuesday suggested not extending a credit line to struggling non-banking financial companies (NBFCs) because it felt there was no systemic liquidity issue but there were solvency concerns in some large entities. Read on...

Liquidity-starved DHFL stops fresh deposits, premature withdrawals

Liquidity-starved Dewan Housing Finance Ltd (DHFL) has said it won’t allow premature withdrawals of its deposits, with immediate effect, in order to reorganise its liability management. Read on...

PNB could take control of OBC, Andhra Bank, Allahabad Bank: Reports

Punjab National Bank (PNB) could take control of two or three small state-run banks, that could include Oriental Bank of Commerce, Andhra Bank and Allahabad Bank. New Delhi has been trying to merge smaller regional state-run banks with better managed larger government-owned lenders. Read on...

After a long wait, Sebi notifies rules for MFs to enter commodity space

Sebi has permitted mutual funds to participate in all exchange-traded commodities except the ‘Sensitive Commodities’. Essential commodities in the agri segment are regarded as sensitive. Along with MFs, gold exchange-traded funds also have been allowed to participate, but only in gold derivatives. Read on...

Mobile user base dips 22 mn in March, suffers biggest fall since April 2018

The number of mobile users in the country dipped by 21.87 million in March this year in the space of one month, the biggest decline since April 2018, mainly on account of operators weeding out their low-revenue subscribers. Read on...

Explained: Why food and grocery retail looks like a tough nut to crack

A combination of high rentals and overheads, as well as competition from organised, traditional and e-commerce majors, is pushing fringe players out of the food and grocery retail market. Constituting two-third of the $820-billion retail market in India, the food and grocery segment does have takers such as Reliance Retail, Future and RP-Sanjiv Goenka. Read on...

Sensex, Nifty slip from record high as exit poll euphoria subsides

The benchmark indices on Tuesday came off their record highs as investors took profits after judging recent gains as excessive. The Sensex and the Nifty50 had ended at new all-time highs in the previous session after rallying close to 4 per cent, after exit polls predicted that the Modi government was set to retain power. Read on...

Ola drops Foodpanda delivery, lays off several employees

About 18 months after acquiring Foodpanda India, ANI Technologies Pvt. Ltd-owned Ola has suspended the company’s food delivery business, laid off about 40 mid- to entry-level employees and terminated the contracts of most of its 1,500 food delivery executives, reported Livemint. Read on...

Commercial vehicles may end up in slow lane, too

After a year of rapid growth, the Indian commercial vehicle market is set to witness a modest pace of expansion this fiscal, ahead of the industry’s adoption of stricter emission standards from April 2020, reported Economic Times.

India on road to ‘car registration portability’

Owners of cars or other vehicles relocating from one State to another will be spared the tedium of re-registering their vehicles and changing the vehicle number plates, if a planned move of the Road Ministry takes off, reported Hindu Business Line.