Rupee slips 26 paise to 70.18 vs USD in early trade

Rupee slips 26 paise to 70.18 vs USD in early trade

Mumbai, The rupee depreciated by 26 paise to 70.18 against the US dollar in early trade Monday amid US-China trade related concerns and rising crude oil prices. Forex traders said the strengthening of the greenback vis-a-vis other currencies overseas, foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit. At […]

Sensex rises over 100 pts in early trade

Sensex rises over 100 pts in early trade

Mumbai, May 3 (PTI) The benchmark BSE Sensex rose over 100 points Friday led by gains in banking and auto stocks amid sustained foreign fund inflow and easing crude prices. The 30-share index was trading 107.81 points, or 0.28 per cent, higher at 39,089.24. Similarly, the NSE Nifty up 22.45 points, or 0.91 per cent, at […]

India’s GDP expected to grow at 7.3 pc in 2018-19

India’s GDP expected to grow at 7.3 pc in 2018-19

Washington,  India’s GDP is expected to grow at 7.3 per cent in the fiscal year 2018-19, and 7.5 per cent in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment. The bank said India will continue to be the fastest growing major economy in the world. […]

India’s economic growth held back due to demonetisation, GST: Raghuram Rajan

India’s economic growth held back due to demonetisation, GST: Raghuram Rajan

Washington,  Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the current seven per cent growth rate is not enough to meet the country’s needs. Addressing an audience at the University of California in […]

Petrol, diesel get costlier

Petrol, diesel get costlier

New Delhi : In line with the price hike announced earlier, the cost of petrol and diesel across India has been hiked as of 6:00 a.m. this morning.As per the Indian Oil Corporation website, prices of non-branded petrol have been revised to Rs. 75.61 per litre in Delhi, Rs. 76.83 per litre in Bengaluru, Rs. 78.29 per litre in […]

Limit collateral damage from bank frauds, urges ASSOCHAM

New Delhi : Apex trade association ASSOCHAM on Sunday said that all out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the alleged fraud in the Punjab National Bank (PNB) row. The trade body also cautioned that an over-reaction by the banks and the investigative agencies would hurt essential credit […]

RBI slaps Rs 3 cr penalty on Axis Bank, 2 cr on IOB

RBI slaps Rs 3 cr penalty on Axis Bank, 2 cr on IOB

Mumbai:The Reserve Bank today said it has imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms, and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations.RBI said it had carried out a statutory inspection of private sector player Axis Bank with reference to […]

Bank fraud, willful default hampering ease of doing business: Jaitley

Bank fraud, willful default hampering ease of doing business: Jaitley

New Delhi: Finance Minister Arun Jaitley on Saturday said cases of willful default and bank fraud will have a detrimental impact on the government’s objective of ensuring ease of doing business. Speaking at the ET Global Business Summit 2018 here, Jaitley said repeated occurrence of fraud causes major setbacks to efforts for improving ease of doing business, and this subsequently creates […]

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