Business news

Should RBI's regulatory action on Lakshmi Vilas Bank worry erring lenders?

Lakshmi Vilas Bank became second major private lender to get the rap under 'prompt corrective action' framework of the RBI, after the action against PMC Bank.

Sep 29, 2019

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LPG crisis looming? Cooking gas shortage could worsen during festival season

LPG vendors may begin rationing of LPG cylinders to customers as the effect of Houthi attacks on Saudi oil installations and fire at ONGC's Uran plant affects supplies in Karnataka, Maharashtra, Punjab, and Goa amid domestic shutdowns

Sep 28, 2019

PMC Bank customers panic after RBI restricts withdrawals

PMC becomes latest bank out of 23 others to face RBI action over irregularities

Since the beginning of 2019, the RBI has put 23 more co-operative banks under similar restrictions.

Sep 27, 2019

PMC Bank crisis exposes regulatory failures plaguing cooperative banking space

Reserve Bank of India failed to intervene though PMC Bank chairman Waryam Singh's close links with bankrupt real estate company Housing Development and Infrastructure Ltd was known for long.

Sep 27, 2019

L-R - Mr. Sachin Bansal, Tarun Mehta, CEO and Co-Foun ... r. Swapnil Jain, CTO and Co-Founder, Ather Energy

Sachin Bansal plugs into microfinance growth story with CRIDS investment

Former Flipkart CEO's return to an executive role with a Rs 703-crore investment in CRIDS is expected to help the rural microfinance company scale up operations.

Sep 26, 2019

Customers panic after RBI intervention in PMC Bank

Explainer: What is PMC Bank and why are the customers panicking?

RBI has capped withdrawals to Rs 1,000 for six months to prevent a run on the bank; authorities are probing major accounting issues.

Sep 25, 2019

Markets today: Sensex slips 300 points, Nifty drops below 11,500

The key Indian equity indices opened on a negative note; Sensex was down over 300 points at 38,790, the Nifty50 on the NSE slipped 92 points to breach the 11,500-mark.

Sep 25, 2019

Improving supplies set to trim fuel prices that rose for eighth day in a row

International crude may soften as Houthis talk of halting further attacks and Saudi production gets back to near-normal levels despite reigning geopolitical tensions.

Sep 24, 2019

PSB strike deferred, averting a 4-day bank shutdown; govt to look into merger issues

The strike, along with the planned monthly non-working day of fourth Saturday on September 28 and Sunday, September 29, would have effectively shut PSB operations for four consecutive days

Sep 24, 2019

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