Top headlines: HDFC Q4 net rises; Pfizer seeks full US approval for vaccine

RBI asks banks to on-lend to healthcare cos in 30 days, SC refuses to interfere in construction of Central Vista amid Covid and other top news of the day

SC refuses to interfere in construction of Central Vista amid Covid
 

The Supreme Court on Friday refused to entertain a plea against deferment of hearing on a PIL seeking direction to halt construction activity at the Central Vista Avenue Redevelopment Project during the prevailing Covid-19 pandemic but gave liberty to petitioners to approach the Delhi High Court for urgent listing of the matter. The apex court was hearing the appeal against the May 4 order of the high court which had listed the PIL for hearing on May 17 saying it wants to first go through what the Supreme Court has deliberated in its judgement of January 5, giving a go ahead to the ambitious project.  Read here

HDFC consolidated net profit up 31%
 

Mortgage lender HDFC Ltd on Friday reported a 31 per cent jump in consolidated net profit at Rs 5,669 crore for the last quarter of the financial year ended March 2021. Total income on the consolidated basis more than doubled to Rs 35,754 crore in January-March period of 2020-21, as against Rs 16,632 crore in same period of 2019-20, HDFC said in a regulatory filing. Read here
 

RBI asks banks to on-lend to healthcare cos in 30 days
 

The RBI on Friday asked the banks seeking funding from the special Rs 50,000-crore on-tap liquidity window to on-lend money to the healthcare service providers within 30 days of availing the credit facility. Earlier this week, the RBI had decided to open an on-tap liquidity window of Rs 50,000 crore with tenures of up to three years at the repo rate till March 31, 2022, to boost liquidity for ramping up Covid-19-related healthcare infrastructure and services. Read here

Pfizer seeks full US approval for vaccine

Pfizer Inc. and its partner BioNTech SE have asked U.S. regulators for full approval of their Covid-19 vaccine, a milestone in their effort to make the shot a sustainable revenue source that goes well beyond its current standing as an emergency product. On Friday, the companies became the first vaccine makers to submit a biologics license application to the U.S. Food and Drug Administration. Read here