Stock Market Updates: A sharp drop in IT and private bank stocks dragged domestic indices lower on Tuesday, even as PSU banks and metals stocks continued their northward march. From its new record high of 52,517 reached today, the S&P BSE Sensex plunged 650 points to hit a low of …
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India’s economy is poised for its biggest annual contraction in records dating back to 1952, as the rapid spread of coronavirus cases and measures to contain them hurt businesses and households. Gross domestic product will contract 7.7% in the financial year ending March 2021, the statistics ministry said in its …
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BENGALURÚ: BharatPe business payments startup and financial services company Centrum Grupo has submitted a joint expression of interest (EoI) to the Reserve Bank of India (RBI) to take over the Punjab and Maharashtra Cooperative (PMC) Bank, a source familiar with the matter. Centrum Group is co-promoted by Jaspal Bindra, a …
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MUMBAI / NEW DELHI: The Reserve Bank of India (RBI) on Friday celebrated stable interest rates, forecast a lower GDP contraction for the second half of the year, and strongly elevated inflation projections, stating that growth will return to positive territory in the third and fourth quarters of fiscal year …
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MUMBAI: The Banking Association of India signed the XI bipartite wage agreement with a representative of the bank’s employees paving the way for a 15% salary increase. The agreement applies to public sector banks, some old generation private banks and some foreign banks. The IBA in a statement said that …
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NEW DELHI: The Supreme Court said Wednesday that it was a “welcome move” by the Center to waive compound interest on loan installments of up to Rs 2 million payable during the six-month moratorium period from March 1 to March 31. August, but disapproved of the time of more than …
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Jayanth R Varma, one of the three economists on the panel, is a professor of finance and accounting at the first institute. Professor at the Indian Institute of Management Ahmedabad (IIMA) Jayanth R Varma is among the three eminent economists appointed as members of the Monetary Policy Committee (MPC) of …
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NEW DELHI – A great relief to people and MSME Borrowers, the Center informed the Supreme Court on Friday that it has decided to waive “interest on interest” on loans of up to Rs 2 million during the six-month payment moratorium, with the benefit also available to those who pay …
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The Central Bureau of Investigation (CBI) filed a fraud case on Monday against Kwality Ltd, which makes dairy products, for misleading a consortium of banks led by the Bank of India. The company is charged with Rs 1,400 million fraud. The agency registered the case following a complaint from the …
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The Central Bureau of Investigation (CBI) has registered two separate cases against two companies for allegedly cheating two public sector banks out of several million rupees. In the first case, a Mumbai-based private company M / s Spanco Ltd and its directors were arrested by the investigating agency in a …
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