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Finance ministry said that the growth is broad based and has been driven by 8.4 per cent growth in consumption expenditure and 10 per cent growth in fixed investment.(Representional Image)Business
GDP growth hits 2-year high

Higher revenue mop up allows centre to improve finances.

1 Sept 2018 2:08 AM IST

Punjab National Bank (PNB)will take care of problems emanating from Rs 13,000-crore fraud perpetrated by billionaire jeweller Nirav Modi on its own and will not seek any governments assistance, its managing director Sunil Mehta said.Business
Indian Banks Association elects PNB's Sunil Mehta as chairman

Rajnish Kumar and Shyam Srinivasan, will continue as deputy chairmen of IBA.

31 Aug 2018 6:59 PM IST

The rupee struggled at a fresh six-month low of 65.28. Photo: APBusiness
SBI says Rupee still overvalued, no need to panic

The rupee has been the worst among the large emerging market peers, losing over 10 per cent from the beginning of the...

31 Aug 2018 5:06 PM IST

Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.Business
RBI deputy governor Kanungo worried over rising debt levels of states

Kanungo said the time has come for each state to manage its own borrowings.

31 Aug 2018 4:20 PM IST

Ministry official said the deal is half done at this stage and needs closure since the financial condition of IDBI Bank is too weak.Business
IDBI Bank approves issuance preference shares to LIC

The move will eventually lead to acquisition of 51 per cent shareholding by the insurance behemoth in the debt-ridden...

31 Aug 2018 3:24 PM IST

Employee unions of banks and state-run insurance companies will stage a sit-in at Azad Maidan in the city tomorrow to protest against privatisation of banks, allowing foreign direct investment (FDI) in the insurance sector and to expedite wage revision.Business
Bank branches to function normally next week; no need for panic: Fin...

A rumour is circulating in several sections of social media that banks will be closed for 6 days in the first week of...

31 Aug 2018 2:39 PM IST

Midsize private sector lender Yes Bank is aiming to evolve itself into a \technology company in the business of banking\ and has accordingly announced a rejig of its senior management.Business
Yes Bank shares continue to fall; plunge 7 per cent

It has received RBI's approval for continuance of Rana Kapoor as MD and CEO of the company.

31 Aug 2018 1:29 PM IST

In a worrying sign, India reported a fiscal deficit of Rs 6.12 lakh crore for the April-November period.Business
Objective of demonetisation was to reduce cash transactions: Niti...

RBI report revealed that almost all demonetised notes were returned to banks.

31 Aug 2018 12:51 PM IST

The rupee hit a record low of 70.86 a dollar in the intra-day trade before closing the day at 70.74 a dollar, down 0.20 per cent from its previous sessions close of 70.59.Business
Rupee hits new low of Rs 70.74

Oil prices soared higher following reports about fall in US inventory level and likely disruption in supply from Iran...

31 Aug 2018 12:25 AM IST

Finance Minister Arun JaitleyBusiness
More formalisation due to note ban, says Arun Jaitley

Claims rise in taxpayers, higher growth are a result of note ban.

31 Aug 2018 12:15 AM IST

The fluctuating dollar cost only makes life harder as the rupee rate is falling. Every dollar is our 69 plus, making each dollar a crude sum.Business
Rupee slides further to end at fresh lifetime low of 70.74 to dollar

The British pound held firm after making its biggest gains in seven months the previous day.

30 Aug 2018 6:00 PM IST

The LIC board will meet on September 4 to decide on the modalities for increasing stake in debt-ridden IDBI Bank to 51 per cent, a move that will provide insurance behemoth entry into the banking space.Business
LIC Board to meet on Sept 4 to decide on raising stake to 51 pc in...

The board will consider the proposal on August 31.

30 Aug 2018 1:01 PM IST

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