Finance

Govt mulls Rs 3-lakh crore loan guarantee for small businesses, reveals report

Small businesses will be eligible for an additional 20% of their outstanding credit limit, which will be fully backed by the government.

Apr 27, 2020

What RBI's Special Liquidity Facility mean for the mutual funds industry?

The Covid-19 outbreak and the Franklin Templeton fund closure has necessitated RBI to step in and ease liquidity pressures on mutual funds by announcing Rs 50,000 crore Special Liquidity Facility.

Apr 27, 2020

Coronavirus impact: Dearness Allowance for Central govt employees, pensioners frozen till July 2021

The decision, which will affect around 50 lakh central govt employees and 61 lakh pensioners, comes after the Union Cabinet approved a 4% hike in DA to 21% in a bonanza for 1.13 cr employees and pensioners applicable from January, 2020.

Apr 23, 2020

Center to put Rs 5,000 crore in EPF accounts of employees and employers | Details inside

To help companies tide over the COVID-19 crisis, the Government of India will pay EPF contributions of both employer and employee (12 percent each), 24 percent altogether for the next three months, such that nobody suffers due to loss of continuity in the EPF contribution.

Apr 20, 2020

Meet the top three contenders, next in line for the HDFC Bank CEO throne

The process to select the successor of the bank's longest-serving CEO Aditya started in November last year whose tenure will end on 26th October this year.

Apr 19, 2020

Whose money is it, Yes Bank? Rs 10 crore to PM CARES draws criticism

In response to Yes Bank's pledge to donate Rs 10 crore to PM CARES emergency relief fund to fight coronavirus, netizens had some hard-hitting questions for the debt-ridden bank.

Apr 7, 2020

Ministry of Civil Aviation Secretary Pradeep Singh Kharola

Post lockdown, Indian aviation sector to take a phased approach of opening up travel gates

Post the nationwide lockdown is lifted on April 14, the top 10 airports of India will be made operational first and the International travel will open up last.

Apr 3, 2020

Respite on EMI payments: Here's how deferring your installment re-payment will cost you dearly

Deferment in paying the EMI installments for the coming three months will put up an additional burden on the total loan amount.

Apr 1, 2020

PSB merger and Covid-19 impact on bank stocks: SBI and PNB dip up to 6%, Indian Bank up by 7.6%

Even as the Indian financial system is grappling with the after-effects of the Covid-19 pandemic, the RBI went ahead with planned PSU mergers from April 1.

Apr 1, 2020

Covid-19 relief package on EPFO withdrawal to cover only 16% of total subscribers

The burden to fund the wages of employees still lies on the employers as the government will support them in the form of reimbursement.

Mar 27, 2020

Covid-19 relief package: Center allows PF withdrawal for individuals to fight lockdown

An individual can withdraw the Provident fund by submitting a physical application to the EPFO office or filing an online application on the EPFO official website.

Mar 26, 2020

Mobile Phone prices in India to get dearer: Here are the new GST rates

At the 39th GST Council meeting held in New Delhi, Finance Minister Nirmala Sitharaman announced rationalization of tax rates on five sectors - mobile phones, fertilizers, footwear, renewable energy equipment, and man-made textiles. The GST rate on mobile phones will be hiked from the current 12% to 18%.

Mar 14, 2020

Good news for depositors as Moratorium on Yes Bank to be removed on March 18

On March 5, the Reserve Bank of India superseded the board of Yes Bank after it was unable to raise fresh capital.

Mar 14, 2020

SBI, ICICI Bank, HDFC Bank, LIC, others to invest Rs 11,700 crore to revive Yes Bank

Public-sector undertaking State Bank of India will be joined by seven other private lenders namely HDFC Bank, ICICI Bank, Kotak Bank, Axis Bank, Damani, Jhunjhunwala, and Azim Premji Trust to pick up stake and support revival of Yes Bank. LIC has also been roped in by the RBI to revive the private-sector lender

Mar 13, 2020

Here's why SBI cut interest rate on its saving banks account to 3%, issued AMB waiver

State Bank of India (SBI) has cut the interest rates on its savings bank account to 3 per cent and has also done away with the need for customers to maintain an average quarterly balance.