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MSME worst hit by GST, Demonetisation, says RBI study

3 days ago
A recent study by the Reserve Bank of India (RBI) has noted that the Micro, Small and Medium Enterprises (MSMEs) have been adversely hit by the Goods and Services Tax (GST) rollout and Demonetisation, which had a significant impact on the overall  ... ...

US tariffs to stay on Turkey, Qatar offers Ankara aid

6 days ago
By Daren Butler, Humeyra Pamuk and Jeff Mason. ISTANBUL/WASHINGTON () The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged  ... ...

Qatar to aid Turkey, currency rallies but US says tariffs to stay

6 days ago
By Daren Butler, Humeyra Pamuk and Jeff Mason. ISTANBUL/WASHINGTON () The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged  ... ...

Turkish lira pulls back from record low, markets rattled

1 week ago
By Daren Butler. ISTANBUL () Turkey's lira pulled back from a record low of 7.24 to the dollar on Monday after the central bank pledged to provide liquidity and cut reserve requirements for Turkish banks, but its meltdown continued to rattle Turkish l ... ...

Fraudhit lender PNB plots revival after second straight quarterly loss

2 weeks ago
By Devidutta Tripathy and Chris Thomas. BENGALURU/NEW DELHI () India's Punjab National Bank reported a second straight quarterly loss on Tuesday as it earmarked more funds to cover a massive fraud, but expects faster bad loan recovery to  ... ...

Banks collect Rs 5000cr from customers in FY18 for breaching min balance

2 weeks ago
As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for nonmaintenance of minimum balance in their accounts in 201718, according to banking data. India's largest lender State ... ...

Banks collect Rs 5000 crore as minimum balance penalty in FY 201718

2 weeks ago
As many as 21 public sector banks (PSBs) and three major private sector lenders have collected a whopping Rs 5,000 crore from customers for nonmaintenance of minimum balance in their accounts in 201718. Among the PSBs, the State Bank of India  ... ...

RBI hikes interest rate for 2nd time in two months on inflation concerns

3 weeks ago
For the second time in as many months, RBI today raised the key interest rate by 0.25 per cent to the highest level in two years as it battled inflation without looking to harm growth, but the move may result in costlier home, auto and other loans ... ...

Sensex, Nifty hit fresh intraday low

3 weeks ago
Key barometers reversed trend and hit fresh intraday low in midmorning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 43.22 points or 0.11% at 37,563.36. The Nifty 50 index was down 2.60 points or 0.02% at 11,353.90.Marke ... ...

Panel seeks changes in passport Act to prevent fraudsters from fleeing India

3 weeks ago
An interministerial panel has submitted recommendations to the Home Ministry to tighten the Passport law to prevent defaulting promoters and fraudsters like Vijay Mallya, Nirav Modi and Mehul Choksi from fleeing the country. The home ministry had  ... ...

Finmin likely to infuse about Rs 10K cr soon in PSU banks

1 month ago
The finance ministry is likely to infuse about Rs 10,000 crore within a few days in some stateowned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement, sources said. Some of these banks  ... ...

LIC gets board's nod to buy majority stake in IDBI Bank

1 month ago
The LIC board today gave approval to the insurance behemoth to acquire IDBI Bank by raising stake to 51 per cent via preferential shares, Economic Affairs Secretary S C Garg said today. The debt laden bank will issue preferential shares to stateowned ... ...

June retail inflation at 5%, May industrial output declines (Roundup)

1 month ago
Retail inflation in India touched the 5 per cent mark in June, compared to 4.87 per cent in May, even as industrial output in May grew at 3.2 per cent over the same month last year but declined as compared to rise of 4.9 per cent in April mainly on ... ...

Ahmedabad: CBI arrests 2 retd. bank officials in a loan fraud case

2 months ago
The Central Bureau of Investigation (CBI) on Friday arrested two senior retired officers of Bank of India in an alleged loan fraud of approximately Rs. 2,654 crore by a Vadodarabased firm. Both the arrested accused will be produced on Saturday before  ... ...

China blames US for 'largestscale trade war' as tariffs kick in

2 months ago
By Michael Martina and David Lawder. BEIJING/WASHINGTON () The United States and China slapped titfortat duties on $34 billion worth of each other's imports on Friday, with Beijing accusing Washington of triggering the "largestscale trade ... ...

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