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Asserting that all its loans are fully secured, suspended PMC Bank managing director Joy Thomas stated that one large account - HDIL - was the sole reason for the present crisis that led to the regulatory action on Tuesday. (Photo: PTI)

PMC's HDIL loan at Rs 6,500 cr, or 73 pc of total loan book: Ex-MD...

The admission came in after a board member leaked the actual balancesheet details to the RBI, said a source.

29 Sept 2019 6:02 PM IST

The Union government, or for that matter, the ministry of finance should not interfere in the functioning and decision-making powers of the RBI. (Photo: AFP)

RBI may go for another rate cut on Oct 4: Experts

RBI has already slashed the repo rate (short-term borrowing rate) four times aggregating to 1.10 percentage points since...

29 Sept 2019 4:33 PM IST

Thanks to the GST rate cut, consumer durables, which have been witnessing a slower growth for the past six quarters, are expected to return to double-digit growth with the sentiments improving during the festival season.

Consumer durable manufacturers look forward to festive season for...

Manufacturers expect factors like good monsoon and recent stimulus measures by the government will have positive impact...

29 Sept 2019 3:50 PM IST

Onion prices crashed by Rs 321 to Rs 250 per quintal on Wednesday.

Govt bans export of onion with immediate effect

Export of all varieties of onions...is prohibited with immediate effect, said Directorate General of Foreign Trade.

29 Sept 2019 2:50 PM IST

The belief is this would force departments to show efficiency and necessity for funds.

Govt may seek Rs 30,000 cr interim dividend from RBI

Government finances have come under pressure due to moderation in revenue collection and a slew of measures taken to...

29 Sept 2019 2:38 PM IST

The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November US deadline.

Govt plan to privatise BPCL needs Parliament nod

Even a 26 per cent stake sale at this valuation would fetch the government Rs 26,500.

29 Sept 2019 12:32 PM IST

Meanwhile, DoT said it will take a call on next round of auction of 5G spectrum.

Telcos war: COAI hopes industry's IUC discussion will be reasonable,...

Typically, a telecom operator pays for connecting calls of its subscribers to the company on whose network a call...

29 Sept 2019 11:50 AM IST

NSE Nifty reclaimed the 9,900-level and BSE Sensex climbed over 167 points in early trade on Thursday. Photo: PTI

RBI rate decision, macro data to steer markets in holiday-shortened...

Markets would remain closed on Wednesday for 'Mahatma Gandhi Jayanti'.

29 Sept 2019 11:06 AM IST

The Union government, or for that matter, the ministry of finance should not interfere in the functioning and decision-making powers of the RBI. (Photo: AFP)

RBI initiates prompt corrective action against Lakshmi Vilas Bank

PCA is aimed at improving the performance of the bank and will not have any adverse impact on the day-to-day operations

28 Sept 2019 3:40 PM IST

Prime Minister Narendra Modi unveiled a slew of incentives to boost startup businesses, offering them a tax holiday, inspector raj-free regime and capital gains tax exemption as part of the startup action plan.

The start-up ecosystem and emerging entrepreneurship!

India is the new poster-child for world markets due to its vast commercial potential for start-ups.

28 Sept 2019 11:36 AM IST

The number of differently abled whose artificial limbs & calipers were measured amounted to 190 in Mombasa, 114 in Nairobi, 55 in Durban and 16 in Lenasia.

Narayan Seva Sansthan organised artificial limb measurement camp in...

Narayan Seva Sansthan is also running smart schools for economically and socially underprivileged children.

28 Sept 2019 11:31 AM IST

Early this year, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance Ltd in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach.

India probes Lakshmi Vilas Bank directors for alleged fraud

Religare Finvest has accused Lakshmi Vilas of misappropriating 7.9 billion rupees it kept with the bank as a fixed...

28 Sept 2019 10:41 AM IST