Panel Suggests Relaxing Capital Requirements For Banks To Boost Lending
A parliamentary committee suggested suspending the new international accounting standards for Indian banks and extending time to implement Basel-III norms. The Parliamentary Standing Committee on Finance has said that the higher than global capital norms for Indian banks are unrealistic…
BSNL only Telco after Reliance Jio to add subscribers in October: TRAI
State-run Bharat Sanchar Nigam Ltd (BSNL) was the only telecom service provider after Jio to witness an addition in its subscriber base during the month. It added around 3.64 lakh subscribers to take its total subscription base to 11.34 crore….
MSME Debt Worth Rs 10,000 Crore Could Be Restructured
Banks and non-bank lenders could restructure up to Rs 10,000 crore in loans to micro, small and medium enterprises without classifying them as bad debt, according to an estimate by rating agency ICRA. This, after the Reserve Bank of India…
Cabinet Clears Vijaya Bank, Dena Bank, Bank Of Baroda Merger
Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank. All permanent and regular officials of Vijaya Banks and Dena Bank will also be transferred to the merged entity….
GOOD NEWS : SMEs set to get GST relief ahead of 2019 Lok Sabha elections
GST Council is set to further ease the compliance burden for small businesses at its meeting later this month. With Lok Sabha elections due by May 2019 council will plan to make more simplified process of GST. The GST Council, chaired…
Rupee up by 34 Paise to end at 69.43 against Dollar rises to 5-month high
Indian rupee today strengthened against the US dollar, tracking gains in some Asian currencies. The rupee today settled at 69.43, up 34 paise from its previous close of 69.77. This was the highest close of the rupee since early August….
Your Debit card may not work from Today
f you have an old debit card, brace for some inconvenient time in New Year from January 1, 2019. If you are using an old credit or Debit/ATM card, chances are it may not work from tomorrow. This is because…
RBI expects bad loans in the system to fall by March
Reserve Bank of India expects bad loans in the system to fall by March, suggesting that the stress Indian lenders have been facing will start to ease after three years. The gross non-performing ratio of Indian banking system will drop…
HAPPY NEW YEAR : LPG price cut, check out price for Subsidised- non-subsidised
In a big relief to consumers, the domestic cooking gas (LPG) price was cut by Rs 5.91 per cylinder.This is the second straight reduction in a month’s time due to tax impact on the reduced market rate of the fuel. Indian…
Petrol, diesel price continue to fall on Sunday
Petrol, diesel prices continued to fall in all major cities across the country on Sunday. Petrol prices were slashed by 22-24 paise. Diesel, on the other hand, witnessed a price cut of 23-25 paise. After today’s price, petrol Delhi is retailing…
Government to infuse Rs 10,086 crore in Bank of India
State-owned Bank of India Saturday said the government has decided to infuse Rs 10,086 crore in the bank as part of Rs 28,615 crore capital infusion to be done in about half a dozen public sector lenders. The finance Ministry…
Latest Government Rules For Amazon, Walmart Seen To Hurt Online Shoppers
Government’s latest rules for foreign e-commerce platforms may be designed to protect local companies from Amazon and Walmart, but consumers are likely to suffer the collateral damage. Online marketplaces must treat all vendors equally by providing the same terms, the…
Rupee Moves Above 70-Mark Against Dollar
The rupee jumped 40 paise Friday to finish at an over one-week high of 69.95 against the US currency on strong dollar buying by banks and exporters amid the greenback’s weakness overseas. Domestic stock markets extending gains for the third…
TRAI assures no blackout of subscribed TV channels on December 29
Telecom Regulatory Authority of India (TRAI) on Wednesday advised all broadcasters and local cable operators to ensure that any channel available today is not discontinued on December 29. In a circular on Wednesday, TRAI said, “This is keeping in view…
Rupee slips 19 paise against US dollar in Early Trade
Rupee weakened by 19 paise to 70.25 against the US dollar in early trade on Thursday due to fresh buying of the American currency by importers and banks. At the Interbank Foreign Exchange, the rupee opened sharp lower at 70.27…
Bank strike hits services; back to normal from today, another strike on 8, 9 January 2019
Banking operations were impacted due to a day-long nationwide strike called by all unions to protest the proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. However, banking operations would be restored from December 27. This was…
Bimal Jalan to head panel to decide on RBI’s surplus transfer
Former RBI governor Bimal Jalan will chair a panel, which will decide on the ideal level of reserves for the central bank and how much can be transferred to the government. On Wednesday, RBI said the decision to appoint Jalan,…
Flipkart, Amazon hit as Government Looks to ban Online Exclusives
India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the government also said that the companies will be prevented from entering into…
Ola to invest 700 crore rs in scooter-sharing startup Vogo
Bengaluru-based Ola said it is investing in the dockless scooter sharing startup, Vogo. “As part of this partnership, Ola will boost Vogo’s supply by investing in 100,000 scooters on the Vogo platform, worth $100 million (around Rs700 crore),” the company…
Indian rupee up by 112 paise best single-day gains in over five years
Indian rupee rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar on yesterday end of the day after softening crude oil prices eased concerns over India’s current…
1 lakh jobs in SBI, Bank of Baroda, Canara Bank
To increase their digital transformation and adoption of new-age banking practices, public sector banks (PSBs) like SBI, Bank of Baroda, Canara Bank and Syndicate Bank are reportedly in the process of recruiting as many as one lakh people in this…
Rupee settles 34 paise higher at 71.56 against US dollar
The Indian rupee Monday recovered by 34 paise to close at 71.56 against the US dollar as forex market sentiments were driven by the country’s narrowing trade deficit in November as also smart gains in domestic equities. Besides, the American…
Reliance Jio to join hands with US handset company Flex for smartphone production
Reliance Jio Infocomm is in talks with US contract manufacturer Flex for locally producing about 100 million mobile phone handsets. Mukesh Ambani-owned telco seeks to rapidly enhance its market share by signing on the majority of those users now using…
Petrol price hiked, Diesel price at reduced
Petrol price witnessed a 5 paise raise on Saturday while diesel prices dropped to the lowest level in this fiscal year. International crude oil prices are now stabilising after nearly 30 per cent fall in last two months. In the…
Maintain 25000 to get unlimited ATM transactions or just settle for 8 transaction per month with SBI
State Bank of India (SBI) allows free transactions to its customers at ATMs for 8-10 times in a month. Maintaining a certain minimum balance in your account, you can do unlimited transactions at SBI ATMs and even at other bank…
‘Johnson & Johnson knew for decades about asbestos in its baby powder’
Global pharmaceutical giant Johnson & Johnson knew for decades that its baby powder contained asbestos, leading news agency said in a report on Friday. According to leading news agency investigation, comes in the backdrop of the multiple lawsuits that the…
Formar RBI governer Raghuram Rajan provides solution for ‘farm loan problems’
Former Reserve Bank of India governor and economist Raghuram Rajan says it is not a solution to the long-festering distress in the sector. Fiscal transfers in terms of loan waivers, Mr Rajan suggests, are not the best way of addressing…
Nifty hovers around 10,800, Rupee opens at 71.68 per dollar
Indian stocks saw a smooth landing for the third straight day, as easing inflation and a robust IIP print cheered market players.Benchmark indices are trading flat with Nifty is below 10,800 level. At 11:03 hrs IST, the Sensex is up 7.45…
Income Tax Department warns of phishing attacks via fake IT returns SMS
Income Tax department of India has warned people about a new phishing scam being shared via SMS, which promises a refund for tax returns. The income tax department has also sent out emails to all registered users, warning them to…
FM Arun Jaitley admits areas of differences’ between Centre, RBI
Finance minister Arun Jaitley Thursday accepted about the differences with RBI He accepted that there are two-three areas of differences with the Reserve Bank (RBI), but questioned how a mere discussion on its functioning could be considered “destruction” of an…