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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 plans to sell non-core assets of over Rs 8,000 crore this fiscal

The bank has already sold some of the fixed assets and have realised Rs 400 crore from these assets.

15 Oct 2018 6:26 PM 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.

High crude prices hurting global growth: Modi to oil producers

The prime minister said crude oil prices at a four-year high was hurting global growth.

15 Oct 2018 5:49 PM IST

Prime Minister Narendra Modi on Thursday allayed fears of job loss due to technological development, saying the 4th Industrial Revolution will change the nature of jobs and provide more opportunities. (Photo: Youtube)

PM pitches for partnership of oil producers, consumers to stabilise...

He said the oil market was producer driven and quantity and prices were determined by oil producing countries.

15 Oct 2018 5:04 PM IST

According to the trade data for August, 2018 while exports have shown a growth of about 19 per cent in dollar terms, the rupee realisations for the export shipments went up close to 30 per cent, said Assocham.

Exports enter negative zone, decline 2.15 per cent in September

The overall deficit stood at USD 94.32 billion in the first six months of the current fiscal.

15 Oct 2018 5:01 PM IST

PM Narendra Modi

Labour unrest in manufacturing hubs may undermine Modi's jobs push

A wave of labour stoppages could put additional pressure on the profitability of companies.

15 Oct 2018 4:20 PM IST

Sensex climbed 122 points to finish the day on high

Sensex up 132 points despite weak macro data

BSE Sensex settled 131.52 points, or 0.38 per cent, higher at 34,865.10.

15 Oct 2018 4:10 PM IST

Kreditech has been licensed by the RBI to operate as an NBFC with the first-of-its-kind licence in Indian financial history for digital lending business and app-based financing, the Germany-based company said in a release on Monday.

Kreditech gets first-of-its-kind licence for digital lending business

The consumer lending industry in India is witnessing major disruption through technological innovation.

15 Oct 2018 4:03 PM IST

Telecom Minister Manoj Sinha

Bharat Net project will be completed by March 2019: Telecom Minister...

The project is aimed at facilitating delivery of e-governance, e-health, e-education, e-banking and other services.

15 Oct 2018 3:33 PM IST

President Ram Nath Kovind (Photo: PTI)

India needs more young women in engineering, tech space: President...

He said these are exciting times for India which is a country on the rise and the world's fastest-growing large economy.

15 Oct 2018 3:24 PM IST

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second biggest oil client.

Govt hopes to finalise partners for strategic oil reserves within a...

India's government approved two strategic petroleum reserve sites with a total capacity of 6.5 million tonnes in June.

15 Oct 2018 3:12 PM IST

Deputy Governor S S Mundra

BankBazaar appoints former RBI DG Mundra as advisor

BankBazaar said Mundra's expertise will help in driving 100 per cent paperless and presence-less financing by the...

15 Oct 2018 2:29 PM IST

The scrip of IL&FS Engineering and Construction Company touched its upper circuit limit of Rs 25.32, up 10 per cent.

Saudi-based ICD halts plan for USD 1 billion fund with IL&FS

The ICD is a multilateral development institution that supports the economic development of its 53 member countries.

15 Oct 2018 2:09 PM IST