Indian metal producers with exposure to Europe and the United States warned of increased costs and lower sales with US President Donald Trump signing on Thursday a proclamation levying a 25 per cent duty on steel imports and 10 per cent on aluminium imports.
As soon as Trump signed the proclamation, Tata Steel Europe asked the Dutch government and the European Union to persuade the US not to levy the duty on steel imports. Read more here...
PNB fraud fallout: Loan disbursements to corporate India take a hit
Loan disbursals to India Inc are taking a hit at this crucial time of fiscal year end, as banks, especially public sector lenders, have turned defensive in the aftermath of the Punjab National Bank (PNB) fraud. The assessment of the impact of the new framework for restructuring of stressed assets is also taking bankers’ time.
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