Business Blogs News - Page 27

RBI places Lakshmi Vilas Bank under prompt corrective action; directors probed for alleged fraud

The Lakshmi Vilas Bank on Saturday received shareholders' approval to raise up to Rs 1,000 crore by issuance of securities

Retail sector cannot grow with protectionism, says BS Nagesh; asks offline retailers to use Internet to widen reach

There is access to 120 million consumers and reach across the country, which offline retailers must use, BS Nagesh said

RBI move caused lot of harm to depositors; could have managed the situation better, says suspended PMC Bank MD

The now-suspended management did not report the matter to the board that its largest customer has been an NPA from the past two-three years

RBI push to link loans to repo rate will not bring cheers to home-loan borrowers; banks have again found a way not to fall in line

If there was an expectation that the new repo-rate linked loan rate-setting mechanism will lower the EMI burden on borrowers, it has been proved wrong.

Paytm appoints Abhinav Kumar as Vice President-Product Marketing; will contribute to firm's next stage of growth, says Trivago posterboy

Also known as ‘Trivago Guy’ on social media, Abhinav is a digital marketing strategist and expert

Narendra Modi best person to bring about change, but it can’t be at pace people expect, says economist Jagdish Bhagwati

Ashwani Mahajan of SJM clarified in a meeting with industry representatives in New York that what it was insistent was for companies coming to India to be law-compliant

Odisha approves investment proposals worth Rs 2,435 cr; to provide employment to 5,432 people in state

Odisha government has approved projects in food processing, chemicals, metal, infrastructure, power, renewable energy and downstream sectors

Market starts on a volatile note on weak global cues; bank stocks, Tata Steel, Asian Paints among major losers

Top losers in the Sensex pack in early trade included Yes Bank, Tata Motors, Vedanta, Tata Steel, Asian Paints, ONGC, ICICI Bank, Kotak Bank, IndusInd Bank and Hero MotoCorp, shedding up to 3%

CRISIL keeps credit rating of Thomas Cook India unchanged; firm to consider transitioning to a new brand

CRISIL has kept the credit rating of Thomas Cook (India) Ltd unchanged, saying it has no linkage with bankrupt Thomas Cook plc in the UK

Economy to start looking up in days ahead, says Nirmala Sitharaman; private banks, financial institutions not facing any liquidity problem

Nirmala Sitharaman said that she had not heard of any liquidity problem after meeting with private banks, MFs, NBFCs and small finance banks

PMC Bank crisis: RBI hikes withdrawal limit from Rs 1,000 to Rs 10,000; over 60% depositors will be able to withdraw full amount

With this relaxation, more than 60 percent of the depositors of the PMC Bank will be able to withdraw their entire account balance.

Auto sales trends, demonetisation and impact on manufacturing sector; all this and more on Moneycontrol Pro

India’s fastest-growing financial subscriptions service, Moneycontrol Pro, is available both on the website and mobile apps.

PMC crisis: Politicising cooperative banking mess is opportunism; RBI has to own up to its mistake of waking up too late

The PMC episode is only the symptom of a deeper malaise plaguing many other loosely regulated cooperative banks in the country.

Sensex surges over 500 points, Nifty hovers around 11,600-mark; auto, bank stocks rally

Sensex was trading 514.33 points, or 1.33% higher at 39,107.85 at 10.15 am, while the broader Nifty rose 169.70 points or 1.48% to 11,609.90

SBI announces linking of new floating rate housing loan scheme to repo rate; to be effective from 1 October

SBI withdrew the earlier scheme a few days ago in order to launch a revamped scheme effective from 1 October

HDFC Bank emerges as India's most valuable brand; Reliance Jio placed 9th among list of top 10 brands

The list of top ten brands, prepared by the world's largest media buyer WPP, includes companies from banking, financial services and insurance, telecom and auto segments

PMC Bank has enough liquidity, depositors' money fully safe; HDIL sole reason for present crisis, says suspended MD

The PMC Bank management admitted that one large account-HDIL--is the sole reason for the present crisis

Sensex tanks over 300 points, Nifty tests 11,500-mark in early session; bank, IT, auto stocks trade negative

BSE Sensex sank over 300 points in early session on Wednesday, dragged by losses in banking, IT and auto stocks amid negative global cues and foreign fund outflow.

JSW Steel raises $400 mn in overseas bond sale, second this fiscal; part of firm's $1 bn fund-raising plan

JSW Steel said proceeds from the $400 million bond sale will be used for capital expenditure and for other corporate purposes

As NPA resolution crawls, banks stare at spike in credit cost in range of 1.9% to 4.6% in second half of current fiscal

In its earlier assessment, India Rating had estimated the system-wide credit cost floor at 1.9% and capped it at 4.4% for the second half of FY19 and whole of FY20

Sign of revival in automobile sector; coming six-week festive season will be decisive, says Mahindra's MD Pawan Goenka

"If the sale remains encouraging, the automobile sector will gather pace," Goenka said

Onion prices set to soar further in coming weeks; expect stability in rates only after Diwali with arrival of new crop, say traders

Onion producing districts and states like Nashik, Pune, Lasalgaon in Maharshtra, Gujart, Andhra Pradesh are unable to send onions partly due to logistical issues

Govt asks states to ensure linking of emission test data with Vahan database; Odisha announces online PUC mandatory from 1 October

The Centre on Monday asked all states to ensure linking of emission test data of vehicles with Vahan database

Festive frenzy has kicked in, will clock strong sales this year with demand driven by Tier II, III markets, says Flipkart CEO Kalyan Krishnamurthy

Kalyan Krishnamurthy said this year's edition of The Big Billion Days (TBBD), which will be held from 29 September to 4 October, will see the company taking its "expansive selection to about 19,000 pin codes in the country".

Industry, stock market experts term Sitharaman's corporate tax cut 'revolutionary', say will make Indian firms globally competitive

In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 percent inclusive of all cess and surcharges for domestic companies.

Sensex opens over 200 points higher, Nifty tops 11,600-mark; RIL, Infosys, TCS, Maruti among top gainers

After hitting a high of 39,306.37 points, the Sensex pared some gains to trade 52.71 points, or 0.13 percent, higher at 39,142.74 at 0945 hours, while the broader Nifty advanced 13.40 points, or 0.12 percent to 11,613.60

Telecom erupts in a war of words amid Trai's review of call connect rates; Airtel, Jio trade charges

Without naming Reliance Jio, a senior Airtel official alleged that "one large 4G-only operator" has arbitrarily slashed ring time for outgoing calls to other networks, thereby converting calls into missed calls and triggering a call back.

NCLAT asks Dighi Port to submit comparative analysis of proposals by Adani Ports SEZ, promoters

The resolution plan by Adani Ports SEZ has already been approved by the Committee of Creditors, while the promoter's offer has been rejected

Low demand and reluctance to invest to blame for slowdown in economy, says Yashwant Sinha

Corporate, PSU sectors have suffered in the last year. The demand in the economy, which is the growth engine, has come crashing down, Sinha said

Corporate tax rate cut: 'Single biggest tax reform', says L&T's SN Subrahmanyan; Rajiv Bajaj calls it 'outstanding' in long-term

The government slashed corporate tax to 22% without exemptions or incentives for domestic and new manufacturing companies