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Costly bailout: Rs 1.7 lakh cr infused into public sector banks; Rs 3.3 lakh cr notional loss in market cap

Compared to a situation where PSBs retained their share in bank m-cap, it would mean a notional loss of Rs 3.28 lakh crore.

Markets News

Airtel to sell 32% stake in Infratel

The company also named Badal Bagri as its new CFO, who will replace global CFO Nilanjan Roy, who has resigned and is joining Infosys.

Industry News

Breather! PSBs to get Rs 41,000 cr extra capital this fiscal

Jaitley said as much as Rs 83,000 crore will be released to PSBs in the rest of the fiscal, as bonds worth roughly Rs 23,000 crore were already been provided to them.

Banking & Finance News

JioPhone without riders: Mukesh Ambani’s Reliance Jio woos railway employees

Reliance Jio has made an attractive offer to railway staffers, mainly junior grade employees who use feature phones, to shift to its 4G feature phone — JioPhone.

Infrastructure News

Meet with RBI: Banks want to keep NPAs out of court

Chiefs of State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India, IDBI Bank, Central Bank of India and Dena Bank attended the meeting on December 13.

Banking & Finance News

Soaring high: Boeing ups India projections

Robust traffic growth and expansion of low-cost carriers are fuelling demand for aircraft in the country.

Industry News

Call waiting! Reliance Jio-RCom spectrum deal on hold

With RJio unwilling to pay for previous spectrum-related payments, DoT is holding back the NoC

Industry News

Bad days for shoppers: Deep discounts on Amazon, Flipkart may end

While the policy has clearly barred such discounts by e-tailers, the perception has been that the designated agencies –RBI and Enforcement Directorate – have been lax in enforcing it.

Industry News

Riding pillion! Ola to invest $100 million in start-up Vogo

Fund will help the scooter-sharing company to expand fleet by 100,000, allow it to grow without borrowing

Industry News

IPL Auction 2019: Jaydev Unadkat, Varun Chakravarthy score big, but there are some unsold players too

With 351 players to choose from in the auction, 8 IPL teams started with a maximum combined kitty of Rs 145 crore on Tuesday.

Sports News

PE Play: Carlyle eyes PNB’s stake in PNB Housing Finance

Carlyle Group is seeking to double its holding in mortgage lender PNB Housing Finance, people familiar with the matter said, reversing an earlier attempt to pare its stake in the company.

Markets News

Making waves! Telecom department to meet Huawei for 5G trials today

Huawei got permission from DoT to conduct 5G trials in India in October. The company is already working with Bharti Airtel for a laboratory test on 5G technology.

Industry News

Regulatory rectitude: ‘Capital norms for banks can’t dilute’ – What former CEA Subramanian has to say about PSU mergers

Former CEA Subramanian sees PSU mergers like PFC-REC as signs of ‘state is back’; votes for a separate fiscal council & only-advisory role for RBI board.

Banking & Finance News

Vicious cycle? MP unveils Rs 38,000 crore agriculture loan waiver

Such largesses till 2019 polls seen at Rs 2.8 lakh crore, pose a threat to fiscal and credit discipline.

Economy News

No respite for Kotak Mahindra Bank : Bombay High Court upholds December 31 deadline for stake reduction

On August 2, the bank announced completion of the PNCPS issue on that day resulting in dilution of its promoter stake to 19.7% of paid-up capital.

Banking & Finance News

Debt trap: Modi government to borrow Rs 27,000 cr to service earlier loan to FCI

To raise another Rs 27,000 crore from NSSF to service earlier loan; similar amount raised in 2017-18 too.

fci, modi government, National Small Savings Fund News

PFC may approach foreign banks to fund REC stake buy

Power Finance Corporation (PFC) may have to approach foreign banks to raise part of the Rs 7,000 crore it needs to buy out the central government’s stake in REC as public sector banks (PSBs) may hit

rbi, pfc, rec News

Lok Sabha election concerns: Modi government asks top ministers to speed up spending

With the interim Budget barely one-and-a-half months away, an election-bound government has asked key departments overseeing labour-intensive and infrastructure sectors not to curb the pace of spendin

economy, modi government News

Ujjwala Yojana: All ration cardholder can avail benefits now

To expand the scope of the flagship LPG-for-cooking scheme, the government has decided to extend it to all ration-card holding households.

ujjwala yojana, cooking gas News

Spectrum reserve price: Trai refuses to share its calculation model with DoT

Regulator may now be asked to come out with a long-term calculation methodology.

trai, spectrum News

IT returns witness massive 50 per cent jump! UP, Bihar, MP top chart with more than 70% growth

While e-returns for income tax saw a big jump this year — in April-November, 6.09 crore returns were filed, up 48% y-o-y, compared with a growth of 20% in the year-ago period — the sharpest increa

income tax, income tax returns News

Macro-economic stability: Government to focus on cut in debt ratio, says Subhash Chandra Garg

Economic affairs secretary says not in talks with RBI on interim dividend; DIPP, commerce secretaries say regulators must be accountable.

Economic affairs secretary Subhash Chandra Garg, economy, indian economy News

NGT quashes Tamil Nadu order to shut Vedanta’s Sterlite plant

In a major relief to the Anil Agarwal-led Vedanta Group, the country’s green court NGT on Saturday set aside the Tamil Nadu government’s order to permanently shut the group’s Sterlite Copper pla

ngt, tamil nadu, vedanta News

Iran Oil: India to sweeten rupee payment terms

To sweeten the deal for Iran regarding purchase of oil from that country, India will allow the Persian Gulf nation to use the payments made by Indian refiners to an escrow account to meet the expenses

oil sector, oil industry, india, iran News

A rough patch: Mercedes, Audi, BMW see sharp dip in sales

In line with subdued passenger vehicle sales during the second half of 2018, the luxury car market has also witnessed a bump post July this year.

automobile sector, automobile industry, auto sector News

Decoding Nefllix’s theatrical debut: Roma, Ballad of Buster Scruggs, Bird Box to release on big screens

It seems Netflix does not want to be stereotyped as only a ‘made for TV’ content house.

netflix, movies News

Big win for Modi government! SC gives clean chit to Rs 58,000-cr Rafale deal

On the back foot after its recent electoral drubbing, the Narendra Modi government on Friday got a shot in the arm at an opportune time, with the Supreme Court dismissing a clutch of pleas challenging

rafale deal, rafale agreement, arun jaitley, supreme court, nirmala sitharaman News
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