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Given the higher NPAs and weak capitalisation of PSBs, ICRA had earlier projected private sector banks market share in the banking sector advances to increase to 38 per cent 40 per cent by 2020 from 27.5 per cent as on March 31, 2017. (Representational image)

Banks ratings under scanner

Fitch noted that losses were big enough to wipe off the $13b fund infused in FY18.

2 Jun 2018 12:38 AM IST

The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas. (Photo: File)

PNB pins hope on asset sale, IBC resolution to raise Rs 13,000 cr

Moody's Investors Service had last month downgraded PNB's rating citing impact of the recent USD 2 billion fraud.

1 Jun 2018 6:49 PM IST

Chinas foreign exchange reserves rose slightly in March as broad U.S. dollar weakness continued.

RBI sets rupee reference rate at 67.1840 against dollar

The exchange rates for the pound and the yen against the rupee were 89.1397 and 61.56 per 100 yens, respectively.

1 Jun 2018 5:56 PM IST

Disinvestment-bound Air India has approached aviation regulator DGCA for renewal of its flying permit, expiring in June.

Tough action needed to revive Air India, says Anand Mahindra

No Expression of Interest was received from any bidder as the deadline ended on May 31.

1 Jun 2018 5:50 PM IST

ONGC may buy all of the governments 51.11 per cent stake in HPCL

CBI books 13 ONGC officials in Rs 80 crore scam case

ONGC's Vigilance wing had approached the CBI, charging that it had detected a fraud of Rs 80 crore.

1 Jun 2018 5:06 PM IST

Bookings for the Redditch series will open on January 7, 2017 at all Royal Enfield stores across India,

Royal Enfield sales up 23 per cent at 74,697 units in May

The company had sold 60,696 units in May last year.

1 Jun 2018 4:42 PM IST

The Income Tax (IT) department on Wednesday announced that a dress code is being imposed upon its employees through the rollout of Operation Dress Code.

Be an informer to I-T department and earn up to Rs 5 crore

This reward scheme is aimed at encouraging people to give information about benami transactions and properties.

1 Jun 2018 4:16 PM IST

Fortis shares gained 4.17 per cent to end at Rs 153.80 on the BSE on Thursday.

Fortis Healthcare shortlists 4 entities for stake sale

Earlier this week, Fortis Healthcare initiated a fresh time-bound bidding process for its sale.

1 Jun 2018 4:05 PM IST

Benchmark Sensex surged 577 points to end at 33,597 on Thursday.

Sensex sheds 95 points; banking, PSU stocks slip

NSE Nifty shed 39.95 points, or 0.37 per cent, to finish at 10,696.20.

1 Jun 2018 4:01 PM IST

Indias GDP growth forecast for the current fiscal to 7 per cent from 7.4 per cent.

GDP to grow at up to 7.5 per cent in FY19, say analysts

Economists at country's largest lender SBI also said that the risk factors to growth continue to remain on the horizon.

1 Jun 2018 3:58 PM IST

Government is planning to phase out LPG susbidy by March 2018. (Photo: PTI)

LPG price up Rs 2 per cylinder, jet fuel hiked by steep 7 per cent

A household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year.

1 Jun 2018 3:48 PM IST

Leading public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 1,063 crore for sale.

State-run banks wiped out the USD 13-billion capital infusion by the...

Around 19 of the 21 state-run banks reported losses for the fiscal, including country's largest lender SBI.

1 Jun 2018 3:36 PM IST