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A USD 2 billion fraud at Indias Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the banks own internal probe has found.

PNB posts Rs 4, 532 crore loss in Sept quarter as bad loans soar

The bank's gross non-performing assets as a proportion of gross advances rose sharply to 17.16 per cent.

2 Nov 2018 1:24 PM IST

Increase in gold imports pushed the countrys trade deficit to USD 94.32 billion in April-September 2018-19.

Gold futures decline Rs 145 on profit-booking, global cues

Gold is trading at Rs 32,000 per ten grams on Friday amid a weak trend overseas.

2 Nov 2018 12:31 PM IST

The 30-share Sensex resumed higher at 27,552.27 and hovered between 27,743.46 and 25,902.45 before concluding the week at 26,818.82, a loss of 455.33 points, or 1.67 per cent.

Sensex reclaims 35,000, zooms over 570 points on easing crude price

NSE Nifty continued to rule above the 10,550 points at 10,553.45 points, with a hefty rise of 173 points or 1.67 per...

2 Nov 2018 12:03 PM IST

NPCI, which currently offers RuPay debit cards, has partnered with 10 banks including public sector and cooperative banks.

Mastercard lodged US protest over Modi's promotion of Indian card...

More than half of India's 1 billion debit and credit cards now go through the RuPay payment system.

2 Nov 2018 11:26 AM IST

Prime Minister Narendra Modi. (Photo: Twitter | ANI)

Why PM Modi wants to increase control over the RBI

Govt has made repeated calls for RBI to hand over more money from the RBI's reserves to help fund its fiscal deficit.

2 Nov 2018 10:42 AM IST

The finance ministry said that the bill is far more depositor-friendly than in many other countries which provide for statutory bail-in without consent of creditors and depositors.

Financial situation fragile, feels Finance Ministry

Govt fears default by NBFCs and HFCs if liquidity crunch is not eased immediately.

2 Nov 2018 10:31 AM IST

1,500 points swing was recorded in Sensex before it settled the day at 279.62 points, or 0.75 per cent lower at 36,841.60.

Sensex rallies over 400 points on strong global cues, falling crude...

The 30-share Sensex climbed 413.15 points, or 1.20 per cent, to quote at 34,845.15.

2 Nov 2018 10:26 AM IST

Ikea, famous for its self-assembly products, faces a tough challenge in India where people are not used to having to put together assemble furniture themselves, analysts say. (Photo: AFP)

IKEA India to create 10000 jobs in Maharashtra

IKEA will offer many co-worker friendly policies to support life situations for women and men.

2 Nov 2018 10:22 AM IST

Higher opening in domestic stock market limited rupee losses. (Photo: PTI).

Rupee rises 31 paise against US dollar on falling crude prices

Rupee is trading at 73.14 against dollar after crude prices fell to seven-month lows in the global market.

2 Nov 2018 10:10 AM 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.

GST collection hits Rs 1L-cr in October after 5 months

This will be a relief to the government which is struggling to stick to the fiscal deficit target.

2 Nov 2018 1:31 AM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

India to win US waiver for oil

Sources, however, said no final decision has been made and an announcement is likely just before sanctions on Iran are...

2 Nov 2018 1:31 AM IST

President Donald Trump

No US sops for 50 Indian goods

Donald Trump issued a presidential proclamation on Tuesday, leading to the removal of these products from the privilege...

2 Nov 2018 1:31 AM IST