Economy - Page 276

State Bank of India, SBI, had earlier reduced minimum balance requirement. (Photo: PTI)

SBI shares tumble over 5 per cent on Q1 hefty loss of Rs 4,876 cr

The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal.

10 Aug 2018 3:36 PM IST

$With multiple agencies probing the alleged Rs 13,000-crore fraud at state-run Punjab National Bank, the Reserve Bank of India (RBI) says it has conducted its scrutiny and the matter is currently under examination for \enforcement action\.$ Business

RBI likely intervenes to stem rupee fall: traders

Since April RBI has sold $21 billion in spot and $10 billion in forwards, according to traders.

10 Aug 2018 1:03 PM IST

Global ratings agency Fitch on Monday said it is doubtful about the strength of corporate governance at ICICI Bank, amid allegations of impropriety against its MD and Chief Executive Officer Chanda Kochhar.

Business

ICICI Bank shares soar nearly 9 pc; m-cap rises by Rs 9,519 crore

Buying was also seen in other bank stocks, with Axis Bank surging 3.86 per cent and SBI rising 2.53 per cent on BSE.

9 Aug 2018 6:33 PM IST

ICICI Banks tier-I capital adequacy ratio stood at 15.92 per cent and the total capital adequacy at 18.42 per cent by end-March 2018.

Business

ICICI bank to disburse Rs 10,000 cr retail loan in Punjab, Haryana

The bank will reach the target by expanding its consumer-personal, vehicle and two-wheeler-loans.

9 Aug 2018 5:30 PM IST

PayPal signed deals with Mastercard Inc and Visa Inc earlier this year for store payments, leading to some concerns that they would result in higher transaction expenses for the company.

Business

PayPal, HDFC Bank partner to offer seamless payment experiences

This agreement will take effect immediately, with new experiences available to customers.

9 Aug 2018 2:12 PM IST

Despite IMFs downward revision of Indias growth rate and a slight upward revision of Chinas growth projections, India continues to be the fastest growing countries among emerging economies.

Business

IMF forecasts India's GDP to grow at 7.5 per cent in 2019-20

Current account deficit is projected to widen further to 2.6 per cent of GDP on rising oil prices.

9 Aug 2018 9:27 AM IST

The RBI has asked Axis Banks board to re-consider the decision to re-appoint Shikha Sharma as its MD and CEO for a fourth term.

Business

Reserve Bank to pay Rs 50,000 crore dividend to govt for FY18

The RBI made a dividend payout of Rs 30,659 crore for the financial year ended June 2017.

9 Aug 2018 8:50 AM IST

Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.

Business

PNB in talks with I-T, excise departments to sell erstwhile...

The lender expects to raise nearly Rs 700-800 crore from the sale of its earlier head office in the national capital.

8 Aug 2018 7:32 PM IST

IDBI shares fell as much as 3.5 per cent to 73.6 rupees.

Business

IDBI Bank gets govt nod for acquisition by LIC

Post the transaction, IDBI Bank would become a subsidiary of LIC, which will have 51 per cent stake in it.

8 Aug 2018 5:37 PM IST

The Reserve Bank of India (RBI) late on Monday dropped Axis Bank from a list of banks it has cleared to import gold and silver in the current financial year that began April 1.

Business

Axis Bank likely to add 350-400 branches in current fiscal

In Telangana, the country's third largest private sector bank, currently has 123 branches and 731 ATMs.

8 Aug 2018 5:28 PM IST

Business

SBI plans to increase Yono user base to 250 million in 2 years

At present 2.5 million users are registered under Yono.

8 Aug 2018 4:55 PM IST

Race stewards said Force India, whose cars have a striking pink livery but no prominent numbers, had failed to comply. (Photo: AP)

Business

Force India secure future with rescue deal, Mallya's reign ends

Force India have gone on to become a strong midfield team, finishing fourth in the past two seasons.

8 Aug 2018 9:45 AM IST