Finance

Bank credit growth highest in five years; does that negate lurking credit crunch fears?

The growth registered by the banks is really encouraging with the fact that RBI has put 11 public sector banks under the prompt corrective action (PCA) framework.

Nov 23, 2018

rbi governor, garima kapoor, elara securities, rbi governor urjit patel, rbi repo rate

PM Modi stacks RBI board with allies to turn heat up on governor Urijit Patel

Now stacked with government nominees who can be counted on to support the administration, the board is being transformed from having a passive advisory role into a body that can exert pressure for policy change.

Nov 18, 2018

RBI tightens oversight of NBFCs, cancels registration of 31 firms

West Bengal leads in the number of finance companies suffering central bank's axe while another 17 voluntarily close business.

Nov 11, 2018

RBI vs Modi govt: Finance Ministry remains tight-lipped over invocation of Section 7 of RBI Act [Read full statement]

The Finance Ministry issued a statement amid the ongoing tussle with RBI over the invocation of Section 7 of the RBI Act.

Oct 31, 2018

India gets first-of-its-kind Bitcoin ATM kiosk in Bengaluru; here's all you need to know

The user will be able to withdraw the money he made through the buying and selling of bitcoins with the help of the kiosk.

Oct 20, 2018

Sovereign gold bonds fixed at Rs 3146 per gram; all you need to know

SGBs are denominated in multiples of gram of gold with a minimum unit of one gram and can also be held in demat form.

Oct 13, 2018

Uttar Pradesh: Bank manager arrested for withdrawing Rs 18 lakh from ATM

The manager of Bantikheda village branch was found to be involved in the theft of Rs 18 lakh from an Overseas Bank ATM in Shamli on March 4.

Sep 29, 2018

SBI expects 53% recovery from RBI's first list of 12 stressed accounts

"We have made adequate provisions for this and it will not impact the balance sheet. Our average provisioning for these cases will be around 55 per cent," said State Bank of India (SBI) Managing Director Dinesh Kumar Khara.

Sep 28, 2018

Cabinet approves GST Network to become govt-owned company

The announcement was made by Finance Minister Arun Jaitley on Wednesday, September 26, as he said that the government will now own 100 percent of the GST Network.

Sep 26, 2018

Yes Bank shares dip almost 34%; record-low since market debut

At 10:34 am on Friday, the shares were trading at Rs 256.15 at the BSE, almost 19.58 per cent low since the previous close.

Sep 21, 2018

Increase in interest rates for small saving schemes; investors breathe a sigh of relief

The small savings schemes include the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), and post office time deposits.

Sep 20, 2018

Vijay Mallya extradition case: Detention not required at this stage, said CBI in 2015 look out circular

This was the second LOC. The first LOC was sent out on October 16, 2015, and the CBI had checked the box to "prevent the subject from leaving India". The CBI has now said that this was an error in judgment.

Sep 18, 2018

CBI chargesheet against Mallya likely in a month; bank officials may be named accused

This would be first chargesheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1600 crore.

Sep 16, 2018

Who is Purvi Modi? Nirav Modi's money manager on Interpol list

Nirav Modi had two trusts and a few shell companies through which Purvi Modi, his sister, conducted the transactions.

Sep 11, 2018

Only one third of working Indians save up for retirement: Report

The lack of saving is likely linked to low knowledge of how much money is needed in retirement, as well as many prioritising their immediate financial situation over planning for their older years

Sep 9, 2018

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