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State Bank of India Q1 loss at Rs 4,876 crore on higher provisioning for NPAs

The country's largest lender's NPAs during the quarter in review rose to 10.69 percent of its total advances, as compared to 9.97 percent in the same period a year ago.

Aug 11, 2018

Bhushan Steel ex MD Neeraj Singhal arrested for siphoning funds worth Rs 2,000 cr

The investigating team stated that the ex-MD was guilty under Companies Act, 2013.

Aug 10, 2018

New US sanctions hit Russian market; rouble hits two-year low

The Russian currency is on track for its deepest weekly fall since early April when it lost 6.7 percent.

Aug 9, 2018

RBI tightens grip on non-compliant NBFCs; cancels 368 licences

The financial stability report made by the Reserve Bank of India stated that the aggregate balance sheet size of the NBFC sector stood at Rs 22.1 trillion as of March 31.

Aug 8, 2018

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Crackdown on black money? Switzerland govt likely to share HSBC bank data with India in 10 days

The Supreme court of Switzerland has ordered the Swiss government to share HSBC account details of Indian citizens for the Indian government to investigate tax fraud and undisclosed foreign investments.

Aug 8, 2018

ICICI Bank wrote down massive bad loans but didn't tell investors - Report

ICICI Bank wrote off as much as 5,600 crore in corporate loans, helping it present a much lower gross NPA in the year 2016-17, a note sent by CEO Chanda Kochhar to the bank's board showed.

Aug 7, 2018

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In an attempt to stall inflation, RBI likely to raise interest rates

The Reserve Bank of India is likely to raise interest rates on Wednesday while retaining a neutral policy stance as it aims to strike a balance between rising inflationary pressures and still recovering growth.

Aug 1, 2018

The Air India-shaped hole in your pocket: Now cough up another Rs 2,100 crore

Air India has registered a drop in domestic market share to well below 10 percent. The airline has not increased the size of its fleet as much its rivals, especially the low-fare carriers.

Jul 11, 2018

Cryptocurrency finds a new home with Swiss stock exchange

The Swiss stock exchange has announced plans to roll out a new cryptocurrency exchange as it hails a 'new era for capital markets'.

Jul 6, 2018

Life Insurance Corporation to invest Rs 26,000 crore in Indian Railways' finance arm

The state-owned insurance group and investment company headquartered in Mumbai is planning to infuse Rs 26,000 crore through bond subscription.

Jul 5, 2018

CBI grills two former RBI deputy governors in loan fraud investigation

Two ex-deputy governors at RBI are facing investigation in the Kingfisher loan case. Separately, the CBI had quizzed former deputy governors Harun Rashid Khan and KC Chakrabarty as part of its probe into the PNB scam and a forgery case filed by the Indian Overseas Bank.

Jul 5, 2018

Former RBI deputy governor KC Chakrabarty stopped from travelling abroad

KC Chakrabarty, who served as the RBI deputy governor from 2009 to 2014, was stopped when he was travelling to London from Mumbai's Chhatrapati Shivaji International Airport in May.

Jul 4, 2018

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LIC lost 18 out of 21 PSB investments in the past two years

The trend is completely different when it comes to its investment in private sector banks where the value of LIC's investment is up by 50 percent.

Jul 2, 2018

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GST was thrust upon an unprepared nation, says former Finance minister P Chidambaram

According to the Congress leader, the only section that appeared to be happy about the GST was the tax administration that had acquired extraordinary powers that frighten the average business person and the common citizen. "GST has become a bad word" for businesses and commoners alike, he said.

Jul 1, 2018

Who will be next ICICI Bank chairman? Frontrunner loses out; ex-bureaucrat emerges dark horse

ICICI Bank chairman RK Sharma's terms ends tomorrow. In the running are former bureaucrats Shaktikanta Das, D K Mittal, Tapan Ray C B Bhave. Former Bank of Baroda Chairman and Managing Director MD Mallya, a frontrunner in the beginning, has apparently lost out after he was interrogated in the Rotomac loan scam.

Jun 29, 2018

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