LIC board gives approval to acquire 51% stake in debtridden IDBI Bank

6 days ago
Life Insurance Corporation of India (LIC) came a step closer in acquiring a majority stake in the governmentowned IDBI Bank as its board gave an approval to the deal on Monday. LIC's shareholding in IDBI Bank will stand at 51 per cent after it takes a ... ...

Slide in states' fiscal position; capital outlay to grow slower, says RBI

1 week ago
The Reserve Bank of India (RBI) in its report on state finances finds these governments have overshot their revenue expenditures, leading to deteriorating fiscal deficit balances over the past three to four years. Despite these signs, there is no ... ...

Technology, not people, led to GST disruption, says Hasmukh Adhia

2 weeks ago
Technology failed the smooth transition to the goods and services tax (GST) regime, even as officers did a marvelous job, Finance Secretary Hasmukh Adhia said on Friday. Talking to reporters on 'one year journey of GST' at industry chamber FICCI, Adhia  ... ...

Govt rules out 'kneejerk' reaction to tackle rupee fall

3 weeks ago
The government today ruled out any "kneejerk reaction" to tackle the fall in rupee and said appropriate measures would be taken after taking into consideration the global situation. Against the backdrop of the rupee breaching the 69mark versus the US Tumbling ru ... ...

Will have data on money parked abroad by Indians soon: Goyal

3 weeks ago
Interim Finance Minister Piyush Goyal said that an agreement between India and Switzerland will provide them with all data on black money by the end of the next accounting year. "All the data will be made available to us from February 1, 2018, to the Swiss Bank deposits information ... ...

Rupee depreciates 0.55% to near its lowest ever on ChinaUS trade war

4 weeks ago
The rupee on Wednesday neared its alltime low, as most emerging market (EM) currencies fell to protect their relative competitive advantage visàvis the Chinese renminbi after it depreciated, reacting to US tariff on Chinese goods. The rupee closed ... ...

Fortis probe finds systemic lapses, moves to recover Rs 500 cr from Singh bros

4 weeks ago
Fortis Healthcare today said it has initiated legal action to recover about Rs 500 crore of funds allegedly taken out of the company by its founders Malvinder and Shivinder Singh after an external investigation found "systemic lapses and override of ... ...

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