WILMINGTON, MA — The Wilmington-Tewksbury Chamber of Commerce profiles a different member in the local media each week. In this week’s “Chamber Corner,” the Chamber is spotlighting Banyan Treatment Center at 66K Concord Street in town..Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email firstname.lastname@example.org.Share this:TwitterFacebookLike this:Like Loading… RelatedCHAMBER CORNER: Meet Assunta Perez Of DaMore LawIn “Business”CHAMBER CORNER: Learn About Align Credit Union’s Student AccountsIn “Business”CHAMBER CORNER: Learn About Michaela Klofac From AFLACIn “Business”
The Bombay Stock Exchange in Mumbai on Feb 29, 2016 (representational image).IANSShares of Ramco Systems rose as high as 7.6 percent on Tuesday after the Chennai-based enterprise software company informed stock exchanges that air medical service Air Evac SMS Inc. has completed implementation of its aviation software Ramco Aviation V5.7 across its 135 bases in the US. The stock later gave up gains partially to trade at Rs 355 at around 1 pm.Read: Ramco Systems, Jubilant Life shares jump on deal winsAir Evac’s fleet comprises 150 helicopters with about 700 active users and is a subsidiary of Air Medical Group Holdings with which Ramco Systems has a decade-long business relationship.”The implementation of Ramco Aviation suite covers Line, Hangar & Shop Maintenance, Engineering Change Management, Technical Records, Inventory Management, Procurement Management, and Facility Management along with Advance Reporting tools,” Ramco Systems said in a regulatory filing to the Bombay Stock Exchange (BSE).For the quarter ended December 31, 2016, Ramco Systems had reported net profit of Rs 3 crore on total sales of Rs 113 crore.The BSE Sensex was trading in the red at 28,625.
The central bank’s decision not to conduct an asset quality review of non-banking financial companies (NBFC) is driven by market concerns though there are widespread worries about a possible meltdown because of the current liquidity situation and non-performing assets (NPA). The situation of the NBFCs came into public focus after IL&FC, a leading NBFC, defaulted on some of its repayment commitments triggering panic among investors.Worries persist despite Reserve Bank of India (RBI) governor Shaktikanta Das recently shrugging off liquidity concerns pertaining to NBFCs and ruling out an asset quality review. Das contended that such a review could ring alarm bells and might not be well-received by the market.Speaking to a group of foreign portfolio investors (FPIs) in Hong Kong earlier in the week, Das affirmed that the RBI was prepared to step in to meet the liquidity needs of NBFCs, according to a media report. The top banking regulator said the quantum of NPAs had dipped significantly in one year and that the worst seemed to be over for the banking sector, the Business Standard website said citing an unidentified source.FPIs attending the meeting included asset managers such as Templeton, Fidelity, and Blackrock, as well as some hedge funds and distressed asset investors. The IL&FS default led to panic among mutual funds and banks, resulting in a decline in the availability of debt capital and rise of cost of debt capital for NBFCs and housing finance companies (HFCs) and generally creating a liquidity crisis in an election year.The Bharatiya Janata Party-led National Democratic Alliance (NDA) government of Prime Minister Narendra Modi is already under pressure over employment data and a farm crisis that saw three states slip out of the party’s hands in December 2018 elections. The liquidity crisis has hit the micro, small and medium enterprises (MSME) which are considered the mainstay of employment generation and semiurban and rural liquidity. The government has already announced steps to improve the liquidity of MSMEs and farmers through direct benefit transfers. But a crisis of NBFCs that immensely contribute to the rural and semi-urban economy could affect the government’s attempts for returning to power in the general election 2019.”The marginal funding cost for NBFCs/HFCs from various sources have gone up 25-100 basis points. The increase in the cost of borrowing is clearly visible in the 50 bps increase in credit spread for NBFC bonds over government securities since August 2018,” a recent research note by Ambit says.After years of low profitability because of weak asset quality and growth slowdown, analysts expect the Indian banking sector to turn around in FY20. Brokers JM Financial believes the stress from corporate bad debt is subsiding and will reflect in lower slippages.
Kolkata: One thousand people have pledged to donate their eyes during the national eye donation fortnight which concluded on Saturday.The camps were organised by Medical Bank. Bengal ranks 7th in the country in eye donation. In 2017-18, 3,800 eyes were collected from the donors.D Ashis, secretary of Medical Bank, urged the state government to set up eye banks in the districts. “People could not donate their eyes due to lack of facility in the districts.” It may be noted that recently donation of organs of patients, who died in hospitals following the initiative taken by their relatives and parents, has given new lease of lives to patients suffering from kidney and heart related ailments.