Finance

YES Bank seeks police probe over fake news; woos Microsoft for investment

Private lender YES Bank seeks multidisciplinary team to investigate the spread of alleged false news that has hit the bank's market cap; bank seeks strategic investment from Microsoft or one of the two other tech firms it is in talks with

Oct 7, 2019

Will RBI cut rates further as market takes hit from fifth successive reduction?

Markets slumped on weak sentiment after RBI cut the repo rate by an expected 25 basis points to 5.15%; the central bank maintains accommodative guidance as it adjusts economic growth estimates for the full year to 6.1% from 6.9%.

Oct 5, 2019

Will slugfest of Vodafone, Jio and Airtel over ring duration affect your calls?

Trai intervenes after bare-knuckle slugfest breaks out over mismatch of interconnect usage charges after Jio cuts ringer duration hitting Vodafone-Idea and Airtel revenues.

Oct 2, 2019

PMC bank created more than 21,000 fraudulent account to conceal loans

The complaint has accused the bank's Chairman, Waryam Singh, and its Managing Director Joy Thomas, along with other bank officials of criminal breach of trust, forgery and falsification of records.

Oct 2, 2019

Mukesh Ambani helped his younger brother Anil Ambani to pay off debt owed to Sweden's Ericsson

Anil Ambani takes a leaf from Mukesh Ambani's playbook of leaner businesses

Reliance Infrastructure focuses on reducing its Rs 6,000-crore debt even as group firms' order books swell on government contracts.

Oct 1, 2019

Will RBI cut interest rate by 40 bps for 5th successive time this year?

Most experts expect a rate cut though they differ on the quantum ranging between 15 and 40 basis points; Finance Minister Nirmala Sitharaman's growth push is likely to guide RBI's monetary policy

Sep 29, 2019

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

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

FM Sitharaman announces steps to boost liquidity, demand

FM Sitharaman's liquidity drive gives the economy a booster shot of demand rise

Credit fairs by public sector banks will bring early festival cheer to consumers as corporate tax bonanza will put on steroids PM Modi's FDI push after Howdy Modi.

Sep 20, 2019