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GOLD LOANS GREW DURING THE PANDEMIC
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FRIDAY, JULY 2, 2021 773.526.8353 he pandemic brought along with itself some of the worst cash crunch and emergency expenses many of us had seen in our lifetimes. The lockdowns during pandemic seem to have prompted people to go for gold loans. The gold loan segment recorded the highest credit growth of 33.8 per cent among all sectors during the 12 months ended The convention May 2021. Gold loan outstanding with banks will have an rose by Rs 15,686 crore to Rs 62,101 crore as address by of May 2021 from Rs 46,415 crore in May 2020, His according to the latest RBI data. Since March
The first ever virtual JAINA Convention to be held from July 1-6
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Holiness the 14th Dalai Lama
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NATIONAL EDITION | Volume 13 • Issue No. 625 JULY 2, 2021 | THE COMMUNITY FIRST | hiindia.com - News Update 24X7
PARUL KHAKHAR “The pain will get unbearable, but you shall not speak/ Even if your heart screams, you shall not speak.”
The Indian stay-athome mum trolled for poem on Covid dead
A legacy: India’s oldest and first ever print newspaper turns 200
DEBT-RIDDEN, AIR INDIA SUED BY DEVAS TO RECOVER $1.5 BILLION
Last month Cairn Energy sued the national carrier to enforce a $1.2 billion arbitration award. The new move by Devas further dents airlines’ reputation
India Ltd.’s assets abroad. Devas has filed a petition in New York asking Air India to pay the amount and if its unable to do so then forfeit its us assets including planes, equipment and cargo handling. The company called the country’s flagship airline an “alter ego” of the Indian state and hence liable for the sovereign debts. The move comes at a time when India’s plans to sell the much-in-debt, loss making carrier are already TAXATION – ACCOUNTING – FINANCE delayed. This new development poses a newer risk of Financial Advisory & Business Consulting negatively impacting India’s prospects as a promising IRS/AUDIT REPRESENTATION – Domestic &Int'l Issues investment destination. OVDP Representation Direct: 847.877.9362 It may be noted that, when it comes to international
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won in international arbitration from India. Devas has now joined Cairn Energy Plc in pursuance to seize Air
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arbitration, last year too, India had seen two big setbacks........ Continued on page No. 9
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