Business news

Have an account with Yes Bank? Here's what you can do

Retail depositors with their money with Yes Bank across the country are in a state of panic and have been withdrawing money as much as they can.

Mar 6, 2020

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Nirmala Sitharaman reacts on Yes Bank crisis: FM assures depositors, says 'Money is safe'

"I want to assure all the depositors that their money is safe, I am constantly in touch with the Reserve Bank of India (RBI). The steps that are taken are in the interest of the depositors, the bank & the economy," Sitharaman stated.

Mar 6, 2020

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SBI chief meets FM Sitharaman over Yes Bank crisis: 'Will take a call after RBI plan is in'

Following the meeting, the SBI chairman assured the depositors that the interest of Yes Bank depositors will be protected and there is no need to panic.

Mar 6, 2020

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Yes Bank shares plunge over 70% after RBI caps withdrawals, SBI demands suspension of trading

The State Bank of India, which gave "in-principal" nod to buy a stake in the beleaguered private lender, demanded that trading of Yes Bank's shares should be suspended till the announcement of formal restructuring by the Reserve Bank of India.

Mar 6, 2020

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Yes Bank turns 'No' Bank: RBI takes over board, withdrawals capped at ₹ 50,000; SBI approves investment

A notification issued by the finance ministry on March 5 stayed that the "commencement or continuance of all actions and proceedings" against the bank. The withdrawal limits will remain in effect until April 3, 2020.

Mar 6, 2020

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Interest rate on PF reduced: How does it affect salaried employees?

Salaried employees will get 0.15 per cent lower returns on provident fund deposits as EPFO slashes interest rates from 8.65 per cent in 2018-19 to 8.50 per cent in FY20.

Mar 6, 2020

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OYO clarifies 5,000 job cuts is not due to Coronavirus scare

Oyo issues coronavirus advisory to its employees and announces 5,000 job cuts globally. The job cuts are a part of the company's restructuring announcement in January 2020, and not owing to Covid-19 scare, an OYO spokesperson clarified.

Mar 5, 2020

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Cryptocurrency ban lifted by RBI in India: What the SC ruling means?

The SC lifted the cryptocurrency ban imposed by RBI in early 2018, which prevented financial institutions in India from providing banking services to cryptocurrency companies. Industry experts hail SC's bold move, but advise users on exercising caution trading in crypto and companies to improve AML policies and ensure data privacy.

Mar 5, 2020

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Coronavirus scare: 5,000 Twitter employees encouraged to work from home amid Covid-19 outbreak

The social media company made it mandatory for all employees in Hong Kong, Japan and South Korea to work from home to curb the spread of coronavirus, while employees from other regions can choose to come to work from the office as needed.

Mar 4, 2020

Schemes by Ministry of Finance for Women Empowerment in India

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Women's Day 2020: Women empowerment schemes in India since 2014

Besides allocation of Rs. 16712.72 crore under the Stand-Up India scheme for women empowerment, the Ministry of Finance has launched various schemes with special provisions to benefit women and help them accentuate their dreams in the last six years, since 2014.

Mar 3, 2020

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Huge volatility on Dalal Street as coronavirus reaches India

Last day at the Dalal street witnessed huge volatility in benchmark indices as cases of Coronavirus confirmed across three cities in India.

Mar 3, 2020

Visa granted to spouses of H-IB Visa holders

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EB-5 Visa: Indian startups planning to expand to US must shell out $50,000 extra

Indians looking forward to migrating to the US under the EB-5 or investor visa category will have to pay $50,000 extra from April 1.

Mar 2, 2020

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Government asks banks to process 1.18 lakh pending PMEGP loan applications by March 15

Banks were asked by the Government to release the loans in approved cases immediately. The financial institutions are requested to take up about 1.18 lakh pending PMEGP loan applications latest by March 15, with special emphasis on the North Eastern Region (NER).

Mar 2, 2020

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Government enables farmers secure loan upto Rs 3 lakh at 4% interest through KCC scheme

In an intent to free farmers from the clutches of money lenders, the government introduced the Kisan Credit Card (KCC) scheme to enable farmers to secure loans up to Rs 3 lakh at a 4% interest rate on the condition of timely repayment. The government has set an estimate of Rs 20,000 crore which will be utilized to sanction loans to KCC cardholders.

Mar 2, 2020

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IndiGo launches daily direct flights to connect Northeastern states under UDAN

To facilitate easy travel for passengers and boost connectivity in the Northeastern region, budget airline IndiGo launches daily direct flights on the Agartala-Aizawl-Guwahati route under the UDAN scheme.

Mar 2, 2020

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schools take preventive measures for coronavirus

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