L&T Finance Holdings slipped 3% to Rs 101.95 after the company s consolidated net profit fell 51.4% to Rs 287.75 crore on 3% decline in total income to Rs 3622 crore in Q3 December 2020 over Q3 December 2019.The NBFC s profit before tax fell 52% to Rs 348.67 crore in Q3 December 2020 over Q3 December 2019. Total tax expense in Q3 December 2020 stood at Rs 60.92 crore as compared to Rs 133.75 crore paid in Q3 December 2019. The result was announced after market hours on Friday, 15 January 2021.
L&T Finance said that the quarter saw a strong economic recovery across sectors led by rural and infrastructure. Higher farmer income, positive rural sentiment, combined with the festive season helped maintain market share in farm equipment and two-wheeler finance.
Read more about Sensex, Nifty trim losses; Nifty reclaims 14,300 on Business Standard. Key benchmark indices pared losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, declined 324.37 points or 0.66% at 48,710.30. The Nifty 50 index lost 119.50 points or 0.83% at 14,314.20.
Read more about Sensex tanks 470 pts; Nifty ends below 14,300 on Business Standard. As per provisional closing data, the barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.67. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.70.
Benchmark indices ended with steep losses on Monday, extending fall for the second straight session. All the sectoral indices on NSE ended in red. Metal shares corrected sharply. Rising coronavirus cases across US, Europe and China weighed on investors sentiment.
The barometer index, the S&P BSE Sensex, dropped 470.40 points or 0.96% to 48,564.27. The Nifty 50 index lost 152.40 points or 1.06% at 14,281.30.
Reliance Industries (up 2.37%), HDFC Bank (up 1.15%) and ITC (up 0.76%) supported the indices. Axis Bank (down 2.79%), Infosys (down 2.49%), HDFC (down 2.49%) and ICICI Bank (down 1.94%) dragged.
In the broader market, the BSE Mid-Cap index fell 2.01% and the BSE Small-Cap index lost 1.89%. Both the indices underperformed the benchmark indices.
A year marked by COVID-specific regulations still included victories for credit unions
January 07, 2021
WASHINGTON World Council of Credit Unions continued in 2020 to successfully advocate before international standard setting bodies on behalf of the global financial cooperative movement. Here are World Council’s Top 10 International Advocacy Success Stories of the year.
1. Basel AML/CFT Guidance includes World Council Recommendations on Proportionality/Financial Inclusion
The Basel Committee on Banking Supervision issued an updated version of its guidelines on
, with guides on the interaction and cooperation between prudential, and anti-money laundering and combatting the financing of terrorism (AML/CFT) supervisors. The issuance specifically included World Council-recommended language stating that AML/CFT burdens should be proportional and risk-based, informed by banks’ own risk assessment of ML/FT risks. Further, with respect to member/customer due diligence, the gu