India Blog News - Page 19

Cash crunch: Currency stocks have not kept pace with the demand; Indians apathy for digital transactions also to be blamed

Currency stocks should have been adequate for country's average requirements–if Indians had adopted digital transactions at the scale Prime Minister Narendra Modi’s government envisaged after demonetisation

Sensex declines by 80 points, Nifty down as RBI MPC indicates hawkish stance; Rupee hits 13-month low of 66-mark

Rupee weakened by 25 paise to breach the 66-level and hit its 13-month low of 66.05 against the US dollar in the early trade today due to appreciation of the US currency overseas

Air India disinvestment: PE, VC funds can bid for national carrier, 'not looking only for an airline to takeover', says govt

The government has "received lot of queries from airlines and non-airlines" for proposed divestment of Air India

Fortis gets fifth suitor: Takeover battle intensifies with unsolicited offer from KKR-backed Radiant Life Care

Radiant, the fifth suitor, proposed a demerger of the hospital from Fortis Healthcare (FHL) into a new company, excluding FHL’s stake in Indian diagnostics chain SRL Ltd.

RBI should wait for some more time before withdrawing monetary accomodation, says deputy governor Viral Acharya

RBI Deputy Governor Viral Acharya favoured withdrawal of monetary accommodation in the next policy review meeting scheduled on 4-5 June.

With ATM's running dry, SBI customers can withdraw cash from 4.78 lakh PoS machines free of charge

As per the RBI guidelines, the withdrawal limit from PoS machines at retail outlets in Tier 1 and 2 cities is Rs 1,000 per card, per day and Rs 2,000 in smaller towns.

RBI to recoup forex reserves despite being put on US currency manipulator watch list: Report

RBI will follow an asymmetric forex policy of buying forex when the US dollar is weakening and allowing Rs 65-66/US dollar when it strengthens.

Uber 'doubling down' on investments in India after exit from SE Asia; to expand tech resources

India accounts for more than 10 percent of Uber rides globally and the US company has a more than 35 percent share of the taxi market here

IMF says unexpected rise in US inflation post-Donald Trump's aggressive fiscal stimulus could unleash financial turmoil

The IMF also said that a hike in inflation in the US could lead the Federal Reserve to raise interest rates faster than has been expected to date,

Fortis stake sale: Sunil Munjal's Hero Enterprise, Dabur's Burman raise bid to Rs 1,500 cr from Rs 1,250 cr last week

Fortis, which runs about 30 hospitals across India, has become the target of a takeover battle, with Malaysia’s IHH Healthcare Bhd, local rival Manipal Health Enterprises Pvt Ltd and China’s Fosun International Ltd vying for the cash-strapped company

ICICI Bank loan case: Chairman MK Sharma meets MF investors over CEO succession plan; is Chanda Kochhar on her way out?

Harried fund houses, which have a huge exposure to ICICI Bank, have met non-executive chairman MK Sharma after a litany of allegations surfaced against Chanda Kochhar and have discussed all the issues, including succession planning,

ATM operators demand higher 'interchange rates' for transactions; customers may be hit

Presently, all banks charge a fee of Rs 15 for each cash and Rs 5 for all non-cash transactions from each other for use of their ATMs by other banks' customers -- which is recovered from the (user) customers -- beyond the five minimum free transactions.

Insider trading: In the age of social media, SEBI finds co-conspirators using Facebook connection

SEBI has examined Facebook profiles of suspects to gather information about connection in a few cases.

Patanjali expects online sales to grow in coming months; to invest in food processing

In January this year, Patanjali has forayed into e-commerce for its FMCG items, partnering major players in the space, including Amazon and Flipkart.

State Bank of India most trusted bank in country, ICICI tops in private sector, reveals brand trust report

The report, however clarified, the survey was carried out during November-January and did not take into account the recent reports of irregularities involving the ICICI Bank.

Cash crunch: Cashless economy is still far away; govt hasn't done enough to push digital transactions

The steps thus far taken by the government are few and unsubstantial like 0.75 percent cash back on card payments in petrol bunks, waiver of user charges for online booking of rail tickets, etc.

Gold purchases shine 15-20 percent on Akshaya Tritiya; demand seen for coins, light weight jewellery

Freebies and the absence of deterrents boost demand. Purchases were relatively lower last year, in the aftermath of the demonetisation drive, announced in late 2016.

ATMs run dry: RBI, finance ministry were warned of cash crunch in March, but bank didn't act on Andhra tipoff

Questions are also being raised about vanishing Rs 2,000 notes with Madhya Pradesh chief minister Shivraj Singh Chauhan calling it a conspiracy.

ATMs run dry: From cropping season demand to election funding needs, theories abound on cash crunch

With banks giving their service providers almost 40-50 percent less cash for ATMs, currency is rationed to ATMs depending on the locality and the demand for money

Lenders welcome hybrid annuity model for NHAI projects, but other options could lessen burden on govt

Narendra Modi in Sweden: India, Nordic nations agree to deepen cooperation in innovation, climate change

India and the five Nordic nations of Sweden, Denmark, Iceland, Norway and Finland on Tuesday agreed to deepen cooperation in innovation and climate change in the first India-Nordic Summit held here during the course of Indian Prime Minister Narendra Modi's visit here

IMF urges India to strengthen ability of banks to go after debtors, warns that debts negatively impact investments

"The corporate debt overhang and associated banking sector credit quality concerns exert a drag on investment in India," the IMF's World Economic Outlook report released on Tuesday said.

Sensex rises over 100 points on sustained buying by DIIs, Nifty nears 10,600; Re falls to 7-month low

The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the US dollar in early trade at the interbank forex market

Empty ATMs: No clear reason given for cash crunch but Centre says RBI will ensure adequate supply of currency notes

While it is difficult to trace any specific reason for such massive cash withdrawals this year, analysts say that concerns over the health of banking system has also triggered savers to withdraw cash.

ATMs run dry: Lessons learnt from demonetisation seem to be forgotten as cash becomes king again

People fear that cash is safer at home than in banks and this is further fueled by the string of scams and frauds that have hit banks

Rs 2,000 notes go missing: Shivraj Chouhan doesn’t get it; killing high value pink notes was govt-RBI plan post-demonetisation

Shivraj Chauhan didn’t take the names of potential hoarders of Rs 2,000 notes, but one can assume that the chief minster’s ire is aimed at political rivals.

Govt issues minimum FDI requirement for unregistered financial services entities

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