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

SBI to auction 12 bad accounts this month to recover over Rs 1325 cr

The lender's gross non-performing assets or bad loans as on March 31, 2018, reached Rs 2.23 lakh crore.

10 Jun 2018 12:58 PM IST

A huge police force has been deployed in the area to prevent further outbreak of violence.

Violence cost India's GDP over USD 1 trillion, per person cost at Rs...

The economic impact of violence to the global economy was USD 14.76 trillion in 2017, in PPP terms.

10 Jun 2018 12:45 PM IST

Income tax inquiries with Kodanad estate manager revealed that huge amount has been distributed to voters from Kodanad estate during last TN assembly polls.

Currency with public hits record at over Rs 18 lakh crore

After the recent cash crunch, the government had announced that printing of Rs 500 notes would be stepped up.

10 Jun 2018 12:18 PM IST

In its first board meeting after a controversy erupted involving Chanda Kochhar and the Videocon Group, leading private lender ICICI Bank examined insolvency cases pending before the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016.

Indian agencies may seek foreign help in ICICI bank fraud case

Piyush Goyal said the law will take its own course in the alleged case of nepotism at ICICI Bank.

10 Jun 2018 11:57 AM IST

The Reserve Bank of Indias regional office here on Friday received 14 tonnes of new Rs 500 notes worth crores of rupees to be dispatched to banks across the state.

Tax dept clears Rs 7,000 crore GST refunds of exporters

About Rs 14,000 crore of refunds of exporters were stuck due to various mismatches.

9 Jun 2018 11:26 AM IST

The countrys vast coastline provides huge potential for the domestic industry in terms of exploiting marine products and promoting exports, Commerce and Industry Minister Suresh Prabhu said on Tuesday.

Economic growth may cross 8 per cent in next 2 years, says Prabhu

India's GDP grew at the fastest pace in seven quarters at 7.7 per cent in the January-March quarter of last fiscal.

8 Jun 2018 4:52 PM IST

Following peers, state-owned Bank of India has hiked lending rates based on MCLR by 0.10 per cent for various tenors.

Bank of India hikes lending rate based on MCLR by 0.10 per cent

The bank has increased MCLR rates by 10 bps for various tenors, it said in a statement.

8 Jun 2018 1:33 PM IST

Foreign direct investment in India increased to USD 61.96 billion in 2017-18, DIPP Secretary Ramesh Abhishek said on Friday.

FDI in India rises to USD 61.96 billion in 2017-18, says govt

FDI inflows stood at USD 60 billion in the previous fiscal.

8 Jun 2018 1:06 PM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

Notice shot off to businesses for less IGST input credit claim

The analytics was conducted based on data between July to March - the first nine months of GST rollout.

8 Jun 2018 12:58 PM IST

Union finance minister Arun Jaitley listens to Chief economic advisor Arvind Subramaniam as minister of state for finance Shiv Pratap Shukla looks on, at the 22nd meeting of the GST council, in New Delhi on Friday. (Photo: PTI)

Working to rationalise GST rates, says Shiv Pratap Shukla

The MoS Finance said a big announcement from the government regarding GST is imminent.

8 Jun 2018 12:00 PM IST

IMF Spokesman Gerry Rice.

Important for India to address banking crisis to support investment:...

Indian banks have made progress in addressing stock of NPAs and were taking further measures to deal with flow problem.

8 Jun 2018 9:57 AM IST

The IMF downgraded its outlook for advanced economies this year by 0.2 percentage points to 1.6 percent but raised it slightly for emerging and developing economies to 4.2 percent.

IMF welcomes RBI decision to hike interest rates

In January 2014 RBI had increased the repo rate to eight per cent to keep the inflation under check.

8 Jun 2018 9:40 AM IST