Synopsis
The lender has also appointed Abhay Bhutada as its managing director and Vijay Deshwal as chief executive officer. Deshwal, currently a business head at ICICI Bank, will assume charge at Magma from the first week of July. He will also be the Group CEO of Poonawalla Group’s financial services business.
Agencies
Magma on Monday also reported widening of net losses to Rs 626 crore in the March quarter compared with Rs 35 crore loss in the year ago period on account of aggressive provisioning to cover stressed assets.
Magma Fincorp has appointed Adar Poonawalla as its chairman as part of a management overhaul following the Poonawala-controlled Rising Sun Holdings acquiring a controlling stake in it.
કોરોનાની બીજી લહેરમાં જેને ફટકો પડયો છે તેવા નાના વેપાર-ઉદ્યોગો અને MSME માટે સરકાર દ્વારા ઈમરજન્સી ક્રેડિટ લાઈન ગેરંટી સ્કીમનો વ્યાપ વિસ્તારવામાં આવ્યો છે
From an economy perspective, high frequency indicators are currently presenting a mixed picture. While mobility and sentiment indicators have moderated, activity indicators are showing resilience.
BEFORE the pandemic, the e-commerce sector was already set on a growth trajectory. Logistics players, eager to capitalise on the growth, had drawn up expansion plans and set aside investment allocations for a longer term.