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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 to shutter most operations at fraud-hit Mumbai branch, say sources

India's second-largest state lender seeks to tighten controls and restore its reputation.

3 July 2018 5:48 PM IST

Commerce & industry minister Suresh Prabhu.

Exports seem to have good performance in June: Prabhu

The country's manufacturing sector activity in June grew at the strongest pace this year.

3 July 2018 9:23 AM IST

Employees of public sector banks have threatened to go on two-day nation-wide strike from May 30.

India bankers panel suggests steps to tackle bad loans

The bad loans problem, driven largely by infrastructure sectors including power.

3 July 2018 9:16 AM IST

State Bank of India

Arijit Basu takes charge as Managing Director of SBI

During his tenure, the company successfully listed on the Stock Exchanges in October, 2017.

2 July 2018 3:50 PM IST

The Mumbai zone of the Central GST Commissionerate has mopped up revenue of Rs 72,509 crore till February this year, tax officials said.

GST collection hits Rs 95,610 crore in June

The total number of GSTR 3B returns filed for the month of May upto June 2018 is 64.69 lakhs.

2 July 2018 12:32 AM IST

Finance minister Piyush Goyal and chairman of Central Board of Indirect Taxes and Customs S. Ramesh arrive at the GST Day celebration on completing one year at Ambedkar International Centre in New Delhi. (Photo: PTI)

GST collection to touch Rs 13 lakh crore in current fiscal, says...

Mr Goyal said that historically the three month from April to June are lean periods of tax collection.

2 July 2018 12:29 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.

Higher tax mop up due to reforms

Statistics available in the public domain suggest that the tax-payer base has widened by 26 per cent in FY 18 compared...

2 July 2018 12:25 AM IST

Finance ministry said that the domestic investment of the private sector continued to be affected by the growing contamination of loans advanced in the past, which have now become unsustainable.

PE investment in real estate up 15 pc in Jan-March to Rs 16,530 cr

PE investment in real estate stood at Rs 14,340 crore in the year-ago period.

30 April 2018 1:35 PM IST

The South Asian countries are free to have ties with any country including China, Indias Ambassador in Beijing Bambawale said. (Photo: PTI/Representational)

Modi-Xi summit: India, China to step up policy coordination

India's name was conspicuously absent from the list of countries that endorsed BRI of which CPEC is a part.

30 April 2018 9:23 AM IST

Indias forex reserves have shot up considerably.

Forex reserves fall USD 2.49 billion to USD 423.58 billion

After touching a life-time high, the country's foreign exchange reserves fell by a whopping USD 2.499 billion.

27 April 2018 6:12 PM IST

The Directorate General of Safeguards (DGS) has slapped a profiteering notice on Jubilant FoodWorks for allegedly not passing on GST rate cut benefit to consumers at its Dominos Pizza outlets.

Rs 20,000 cr surplus in GST compensation cess fund as of end-Mar

For 2018-19, the government has budgeted to collect Rs 61,331 crore as GST compensation cess.

27 April 2018 4:09 PM 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, note ban brought 1.8 mn more people into I-T net: India

GST has led to a 50 per cent increase in the number of indirect taxpayers.

27 April 2018 12:27 PM IST