Business highlights

DEL7 BIZ-PETROL-PRICEPetrol price cut by 12 paise/litre, diesel by 14 paiseNew Delhi: Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.DCM8 BIZ-YES BANKYes Bank says NPA troubles to continue in FY21; capital infusion makes CEO-designate confident of surviving stormMumbai: Yes Bank expects pressures from sour loans, which led it to declare the highest loss for any private sector lender at Rs 18,654 crore for the December quarter, to continue even in FY21, but CEO-designate Prashant Kumar is confident of its survival after a Rs 10,000-crore capital infusion.

DEL29 BIZ-AUDITORSIndia's audit space cannot have 'one-size fits all' approach: Corp Affairs SecyNew Delhi: Asserting that "one-size fits all" approach cannot be put in place for the complex audit industry, Corporate Affairs Secretary Injeti Srinivas has said the potential of conflict of interest needs to be addressed and made it clear that whoever is practising audit in India will have to be regulated under the country's regulations.DCM1 BIZ-FPI-OUTFLOWCorona scare: FPIs press panic button, withdraw Rs 37,976 cr from Indian mktsNew Delhi: Foreign portfolio investors (FPIs) have withdrawn a whopping Rs 37,976 crore on a net basis from the Indian markets in March so far amid the coronavirus pandemic triggering fears of a global recession.BIZ-IDFC BANK-YES BANKIDFC First to invest Rs 250 cr in Yes BankNew Delhi: IDFC First Bank on Sunday said it will make an equity investment of Rs 250 crore in beleaguered Yes Bank to acquire 25 crore equity shares.

DCM14 BIZ-RENEWABLENow RE developers' letter of comfort from PFC, REC, IREDA at par with bank guaranteeNew Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking firms PFC, REC and IREDA at par with bank guarantees. DCM13 BIZ-CALL-DATA-RECORDDoT units seeking bulk call data record in routine, telcos raise concernNew Delhi: Some units of the telecom department are seeking huge call data records of people in some circles on a routine basis which is alleged to be in deviation from the standard operating procedure laid down by the government, according to sources.