Business

Kolkata: State-run Allahabad Bank, which referred 65 stressed accounts involving around Rs 12,566 crore to the National Company Law Tribunal (NCLT) for IBC resolution during last fiscal, is focusing on recovery and rebalancing its loan book with emphasis on small, micro, agriculture and retail advances.

The lender also said the number of "wilful

Details
Category: Business

Write comment (96 Comments)

Users can now change font size throughout the IRCTC website for comfortable view.

IRCTC (Indian Railway Catering and Tourism Corporation) has revamped its website and come up with host of additional features. Recently, Union Minister of Railways Piyush
Details
Category: Business

Write comment (93 Comments)

Petrol prices came down by 24 paise in Delhi and Kolkata on Sunday, while in Mumbai, the petrol prices came down by 23 paise and by 26 paise in Chennai. The petrol price cut took place for the twelfth day in a row bringing them down to Rs 76.78 in Delhi, Rs 84.61 in Mumbai, Rs 79.44 in Kolkata and Rs 79.69 in
Details
Category: Business

Write comment (96 Comments)

Several banks have announced marginal hikes in their MCLR or marginal cost of fund-based lending rates so far this month. MCLR is the key rate below which a bank cannot lend. State-run banks SBI (State Bank of India) and PNB (Punjab National Bank) and
Details
Category: Business

Write comment (95 Comments)

Y V Reddy headed the Reserve Bank of India from 2003 to 2008.

Kolhapur: Former RBI governor Y V Reddy has slammed the government for the multi-crore fraud at state-run Punjab National Bank (PNB) and said as the owner of public sector lenders, it is answerable to taxpayer losses rising out of such financial scams. In February this year, PNB detected
Details
Category: Business

Write comment (92 Comments)

Jayant Sinha said government will set up more airports in the country to improve air connectivity

Ramgarh (Jharkhand): Union civil aviation Minister Jayant Sinha on Saturday said the number of air passengers in the country has gone up to more than 10 crore, which is higher than railway passengers travelling in AC coaches. The Union Minister of
Details
Category: Business

Write comment (92 Comments)

A total of 92% of CEOs polled expect further increase in consumption demand during 2018-19.

A majority of top CEOs is bullish on economic growth prospects, hoping that the gross domestic product (GDP) will be over 7 per cent in 2018-19, a survey has
Details
Category: Business

Write comment (93 Comments)

Indian rupee's movement, fluctuations in global crude oil prices will also set the market direction

The forthcoming release of major macro-economic data points on industrial production (IIP) and retail inflation (CPI), and monetary policy announcements
Details
Category: Business

Write comment (94 Comments)

Indian Railways' ticketing arm, IRCTC (Indian Railway Catering And Tourism Corporation), offers an array of food items on train seats as well as on railways stations to passengers. The IRCTC meal options vary from a humble janata meal to a lavish
Details
Category: Business

Write comment (93 Comments)

AirAsia offers: Both sales on flight tickets are valid till June 17, 2018.

AirAsia India is offering up to 50 per cent discount on return flight tickets on domestic routes. Separately, it has extended its 'Grand Sale' under which it is offering
Details
Category: Business

Write comment (96 Comments)

Gross NPAs of SBI till December 31, 2016, were Rs 1,12,343 crore.

New Delhi: State Bank of India (SBI), the country's largest public sector lender, recorded its highest non-performing asset (NPAs) of Rs 1.1 lakh crore in 2017-18, almost equal to what it had registered in the decade before, according to information available through RTI and the
Details
Category: Business

Write comment (90 Comments)

State Bank of India (SBI) expects to recover around Rs 30,000 crore from the resolution process under the Insolvency and Bankruptcy Code (IBC) during the current fiscal, an official said on Saturday. From the two stressed assets' list referred for
Details
Category: Business

Write comment (100 Comments)

Petrol and diesel prices today: The rates were at Rs 76.58/litre and Rs 67.95/litre in Delhi respectively

Petrol and diesel prices today were decreased in Delhi, Kolkata, Mumbai and Chennai. While Monday's reduction was in the range of 19-21 paise per
Details
Category: Business

Write comment (99 Comments)

AirAsia, being a Malaysian airline, needed FDI approvals to launch airline in India

The enforcement directorate (ED) has collected documents from the commerce and industry ministry's department of industrial policy and promotion (DIPP) relating to FDI
Details
Category: Business

Write comment (90 Comments)

One can even open an FD with a small finance bank online.

As the fixed deposit (FD) rates of big commercial banks such as State Bank of India (SBI) have now slid below 7 per cent per annum, the small finance banks offer a viable and pragmatic
Details
Category: Business

Write comment (91 Comments)

Oil prices hit a 3-1/2-year high last month.

BENGALURU: Retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the
Details
Category: Business

Write comment (97 Comments)

In US dollar term, gold is likely to be in the range of $1,360 in the upper level, said an expert.

Mumbai: Gold prices are likely to rise up to Rs 34,000 per 10 grams level during Diwali mainly on the back of depreciating rupee and geo-political concerns, according to analysts. Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten
Details
Category: Business

Write comment (90 Comments)

South African police seized documents from Bank of Baroda branches in Johannesburg and Durban

Johannesburg: South African police unit 'Hawks' on Friday raided Bank of Baroda's offices, and seized documents during an ongoing investigation into corruption that was perpetrated carried out under former president of South Africa Jacob Zuma, a police
Details
Category: Business

Write comment (93 Comments)

The S-P 500 futures were down 0.1% after dropping as much as 0.3%.

The S-P BSE Sensex opened the week on Monday on a positive note. At 9:55 am, the 30-share pack was at 35,602.27, up 158.60 points or 0.45 per cent while the broader Nifty50 was
Details
Category: Business

Write comment (96 Comments)

BSBD customers of this account do not need to maintain an average monthly balance.

If you're scared of running short on the minimum balance in your bank account, here's a solution: a Basic Savings Bank Deposit (BSBD) Account should be your pick. A BSBD
Details
Category: Business

Write comment (100 Comments)

Gold prices' rising spree on Saturday recaptured the Rs 32,000-level by gaining Rs 100 to trade at Rs 32,050 per 10 gram at the bullion market. In past three sessions, starting Wednesday, gold prices have gained Rs 350 in the commodities market.
Details
Category: Business

Write comment (92 Comments)

Currency with the public has reached a record high level of over Rs 18.5 lakh crore, more than double from a low of about Rs 7.8 lakh crore it had hit post-demonetisation decision in late 2016, as per RBI data. At the same time, the total currency put in circulation by the Reserve Bank of India (RBI) has also more
Details
Category: Business

Write comment (91 Comments)

SBI's net loss in FY18 stood at Rs 6,547 crore as against a net profit of Rs 10,484 crore in FY17

New Delhi: The combined losses posted by public sector banks (PSBs) in financial year 2017-18 were over Rs 87,357 crore. Scam-hit Punjab National Bank (PNB) topped the list with a hit of nearly Rs 12,283 crore followed by IDBI Bank. Out of 21 state-run
Details
Category: Business

Write comment (97 Comments)

Airtel and Vodafone both have recharge plans priced at Rs 199.

The launch of Reliance Jio in 2016 transformed the competition going among the telecom operators by making 'data offerings' the new focal point. Other telecom incumbents like Bharti Airtel
Details
Category: Business

Write comment (90 Comments)

The minimum sum assured under SBI Life's Grameen Bima is Rs 10,00.

SBI (State Bank of India) offers various insurance schemes and protection plans for individuals and their families. It offers SBI Life Grameen Bima, which is a pure term,
Details
Category: Business

Write comment (99 Comments)

Mudra card is a debit card issued against the Mudra loan account for working capital

Mudra is an NBFC (non-banking finance company) set up by the government that supports development of micro enterprise sector. The purpose of Mudra is to support the small scale businesses that don't have access to formal channel of
Details
Category: Business

Write comment (90 Comments)

June is the hottest month of the year. Even so for the banks' lending rates. Almost all major banks have raised their lending rates in past few days. From the State Bank of India (SBI) to Punjab National Bank (PNB), from ICICI Bank to Kotak Mahindra
Details
Category: Business

Write comment (97 Comments)

Some feel that outright ban on cryptocurrency would foster the creation of black market

As less than a month is left before the RBI's (Reserve Bank of India) three-month deadline given to banks for snapping their ties with cryptocurrency firms expires, the cryptocurrency traders and exchanges are in utter
Details
Category: Business

Write comment (95 Comments)

Depositors are always on the lookout of earning a higher rate of interest in comparison to the State Bank of India (SBI) FD interest rates. When the earnings from a bank fixed deposits (FDs) stay at moderately average level, there are some alternatives such as corporate bonds and fixed deposits (FDs) with small
Details
Category: Business

Write comment (95 Comments)

Jet Airways offer cannot be clubbed with any other offer.

Jet Airways is currently showering discount on flight tickets under various scheme. The carrier is offering a discount of up to Rs 200 on domestic flight tickets and up to Rs 400 off on
Details
Category: Business

Write comment (93 Comments)