Business

One year after being hit by a $2 billion scam, Punjab National Bank (PNB) is set to return to annual profits and strong loan growth in fiscal year 2020 even as investigations continue into the country's biggest banking fraud.

State-run PNB has already

Domestic stock markets started the week on a lower note amid cautious trade on Monday. After opening higher for the day, the Sensex shed as much as 239 points to hit 35,569 in early trade. The Nifty declined as much as 71 points to touch 10,653. Losses in auto and information technology stocks dragged the markets lower however some advances in met

The indigenously built, high-speed Vande Bharat Express began its first commercial run from here on Sunday as per schedule, a day after it suffered a break down while on its way to Delhi from Varanasi.

The train left for Varanasi from the New Delhi Railway

The government has started the registration process under the PM-SYM (Pradhan Mantri Shram Yogi Maan-Dhan) scheme, reported news agency Indo-Asian News Service (IANS). Announced in the Interim Budget, the pension scheme is aimed at persons engaged

Petrol price stood at Rs 70.91 per litre in Delhi on Monday, while diesel rate was at Rs 66.11 per litre. The price of petrol in the national capital was less than 10 paise from Rs 71 per litre, a level last seen on January 31 this year. According to data

Most of the banks across the country require customers to maintain a monthly average balance (MAB) in their regular savings accounts. Monthly Average Balance (MAB) is the sum of all the end of day (EOD) closing balance divided by the number of days in that month. St

The central bank will consider an early transfer of a part of its profit to the government, which is desperate for cash to fund populist pledges ahead of a national election.

The Reserve Bank of India's central board will decide on the interim dividend, Governor Shaktikanta Das said after a meeting where Finance Minister Arun Jaitley briefed

Fixed deposit (FDs), also known as term deposits, are secure financial instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. Small finance banks pay higher interest

No application is required to be submitted by the subscriber for final payment from GPF.

Dewan Housing Finance Corp Ltd is yet to take a decision on bringing in strategic investors, the debt-laden housing finance company said on Monday after a report that it was in talks about selling stake.

Earlier this month, the home loan provider said it was keen to sell assets and some of its businesses to improve liquidity, however, it clarified

The Anil Ambani-led Reliance Group has reached an in-principle "standstill understanding" with more than 90 per cent of its lenders, the company said on Sunday. A Reliance Group statement said that as per the understanding reached, 90 per

State Bank of India or SBI offers various types of fixed deposit (FD) accounts. A fixed deposit is considered as a secure form of investment that gives guaranteed returns. Reinvestment plan, one of such product offered by the lender, also works like a fixed deposit (FD). The

Power Finance Corp Ltd said on Monday the company was not considering extending the open offer to the minority stakeholders for its deal with REC Ltd.

There has been no finalisation on the deal value, the non-banking finance company said.

The Indian government had approved a plan in December by one state-owned lender to the power industry, Power

Informal sector workers will now be able to subscribe to the Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) scheme and get an assured monthly pension of Rs 3,000 at 3.13 lakh Common Service Centres (CSCs) across the country.

CSC e-Governance Services India Ltd, a special purpose vehicle of the government, has started the registration

Post offices across the country provide a host of saving schemes with different rates of interest. Kisan Vikas Patra (KVP), one such product offered by post offices, at present grant an interest rate of 7.7 per cent. Post office KVP certificates can be purchased by

Reserve Bank Governor Shaktikanta Das on Monday said he will meet heads of public and private sector banks this week to discuss transmission of interest rate cut to borrowers. Speaking to reporters after Finance Minister Arun Jaitley addressed the bo

The Finance Ministry will take up the issue of dividend and Prompt Corrective Action (PCA) and easing of SME (small and medium enterprises) loan norms by public sector banks banks with the RBI when Finance Minister Arun Jaitley will address the Board of

Major American IT player Cognizant will pay $25 million to the US Security and Exchange Commission to settle its India bribery charges, as Department of Justice filed criminal cases against two if its former top executives. The two former executives have been charged for their roles in facilitating the payment of millions of dollars in

The rupee declined by as much as 23 paise on Monday. The rupee opened lower at 71.35 on Monday and weakened to hit an intraday low of 71.46 against the dollar in morning deals, compared with its previous close of 71.23. Rising crude oil prices along with foreign fund outflows and subdued equity markets led to weakness in the rupee against the

Immediate Payment Service (IMPS) is an instant payments service that enables round-the-clock money transfer through the use of mobile app, mobile banking or internet banking. One can transfer money through IMPS at any time or day, irrespective of holidays, under

Fixed deposit (FD), a secure investment instrument, offers higher interest rates than the deposits in savings accounts. Fixed deposits can be started for specific period, which can be as short as 7 days. FD interest rates of most banks are higher for senior

Former billionaire Malvinder Singh has filed a criminal complaint accusing his younger brother of siphoning funds from their family holding company and fraudulently diverting them to a renowned spiritual guru, the latest twist in the unraveling of a $2

India Post or Department of Posts, the postal system of the country, offers several savings schemes with different interest rates. The Sukanya Samriddhi Yojana, one such savings scheme offered by India Post, is a deposit scheme for the girl child and can be opened

IDBI Bank has sounded out to its new owner LIC seeking another tranche of up to Rs 12,000 crore to meet its huge provisioning requirements amid mounting losses.

The fresh support is required to cover for non-performing assets (NPAs) in the January-March quarter.

Life

Domestic equity benchmark indices extended declines and bucked the strong trend seen in other Asian markets paced by losses in Asian Paints, Bajaj Finserv, Yes Bank, HPCL and Coal India. The S-P BSE Sensex fell as much as 283 points or 0.8 per cent to 35,525.96 and the NSE Nifty 50 index tumbled 85 points or 0.79 per cent to 10,639.50.

Asian

The Reserve Bank of India (RBI) may impose monetary penalty on Yes Bank for breaching the confidentiality norms of its communications exchange with the private bank which the central bank is said to be treating as a market-related information slip aimed at boosting the stock.

Sources said this calls for penalty as in other regulatory

India's foreign exchange (forex) reserves declined by $2.12 billion during the week ended February 8, official data showed on Friday.

According to the Reserve Bank of India (RBI)'s weekly statistical supplement, the overall forex reserves decreased to $398.12 billion from $400.24 billion reported for the week ended February 1.

India's forex reserves

Yes Bank Ltd. fell after the Reserve Bank of India (RBI) reprimanded it for selectively revealing a "confidential" report by the regulator that led to a 30 percent surge in the lender's shares Thursday. The regulator called the disclosure a "deliberate attempt"

The key domestic equity indices may slide further in the coming week as the prevailing India-Pakistan tensions along with high global crude oil prices are expected to weigh heavy on investors' sentiments. Analysts predict, continuation of

The rupee slipped by 7 paise to close at 71.23 against the dollar on Friday, pressured by heavy foreign capital outflows and firming oil prices. This is the third straight session of loss for the domestic currency, during which it has depreciated by 53 paise.

On a